tag:blogger.com,1999:blog-5688658469923213562024-03-05T12:20:10.233-08:00IVKLSThese blog is created to review the annual report / quarterly report of public listed company listed in Bursa Malaysia.
All content from these blog is only the views of the owner of these blog.
Invest in the stock recommended by these blog at your own risk. You are advise to do own research before purchase any stocks recommended in this blog.
The author of these blog can be contacted at ivklse2015@gmail.comIVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.comBlogger87125tag:blogger.com,1999:blog-568865846992321356.post-86731536279231604712021-07-29T01:24:00.005-07:002021-07-29T01:24:47.352-07:00Malaysia Mid Cap and Small Cap Mutual Fund Holding<p> <span style="font-family: Arial; font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;">Introduction</span></p><span id="docs-internal-guid-56495a03-7fff-18e1-c4d8-3f4b090017b2"><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">There are many mutual funds or unit trusts in Malaysia which separate into different category, small cap, large cap and etc. Mutual funds are managed by professionals and only invest in stock which they had done sutaincial research on. For normal investors who do not know which stock in Bursa to invest and do not want to pay fees to the unit trust companies can try to invest in stocks where most unit trusts are invested in.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In this post we would look into Stocks held by Malaysia Mid Cap and Small Cap Mutual funds. Top ten holdings of the seven funds which are rated 4 stars and above in morningstar are recorded. The seven funds are:</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Fund Name</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Fund Size (RM)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Fund Manager</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.arecacapital.com/Areca+equityTrust+Fund_41_1.htm" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Areca Equity Trust</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">312,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Danny Wong Teck Meng,</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Areca Capital Sdn Bhd (since Apr 23 2007)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.eastspring.com/my/funds-and-solutions/fund-listing/fund-details?fundcode=E001" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Eastspring Investment Small Cap Fund</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">834,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Rudie Chan Chee Kong, Eastspring Investment Berhad (Since Jul 15, 2017)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.hlam.com.my/funds/value-fund" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value Fund</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,200,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Simon Lim Jiing Liang , Hong Leong Asset Management Bhd (Since Dec 31, 2020)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.kaf.com.my/Portals/0/KIF/Factsheet/KVF%20Jun21.pdf" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KAF Vision Fund</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">70,300,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Tai Suah Fun, Alliance Unit Trust Management Berhad (Since Jan 30 2012)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://my.morningstar.com/my/report/fund/people.aspx?t=0P00008MEM&fundservcode=&lang=en-MY" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Kenanga Growth</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,100,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Lee Sok Yee, Kenaga Investors Berhad (Since Mar 23 2013)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.maybank-am.com.my/documents/191091/580696/MSCTF+Annual+31072020.pdf/e43af1c7-4693-44e7-ac0a-4cb77580dccb" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Maybank Malaysia Small Cap</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">127,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Lim Suet Ling, Maybank Asset Management Sdn Bhd (Since Sep 17 2011)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://my.morningstar.com/my/report/fund/people.aspx?t=0P00008MIN&fundservcode=&lang=en-MY" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Public Small Cap Fund</span></a></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,200,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Lum Ming Jang, Public Mutual Berhad (Since Apr 30 2011)</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Top 5 Stock by Value</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="407"></col><col width="217"></col></colgroup><tbody><tr style="height: 0pt;"><td style="background-color: lime; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Stock</span></p></td><td style="background-color: lime; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Value (RM)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.mpind.my/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Malaysian Pasific Industries Berhad (MPI)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Public Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Eastspring Investment Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision Fund</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">229,179,540</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">112,225,500</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">63,499,400</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">43,781,540</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,600,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,073,100</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.do.com.my/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">D&O Green Technologies Berhad (D&O)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision Fund</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap Fund</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">141,457,500</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">135,072,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,260,500</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,125,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.pressmetal.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Press Metal Aluminium Holdings Berhad (PMETAL)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">120,349,800</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">120,349,800</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://frontken.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Frontken Corporation Berhad (FRONTKN)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Kenanga Growth</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Araca Equity Trust</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">113,265,054</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">91,237,900</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,155,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,424,610</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,447,544</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.inari-amertron.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Inari Amertron Berhad (INARI)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Eastspring Investment Small Cap</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 108,403,667</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">69,120,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39,283,677</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Top 5 Stock by Percentage of Portfolio</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="407"></col><col width="217"></col></colgroup><tbody><tr style="height: 0pt;"><td style="background-color: lime; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Stock</span></p></td><td style="background-color: lime; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Portfolio (%)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.mpind.my/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Malaysian Pasific Industries Berhad (MPI)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Public Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Eastspring Investment Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision Fund</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">29.23</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.40</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.65</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.26</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.76</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.16</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://frontken.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Frontken Corporation Berhad (FRONTKN)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KENAGA Growth</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Areca Equity Trust</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">22.49</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.21</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.88</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.08</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.32</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.do.com.my/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">D&O Green Technologies Berhad (D&O)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision Fund</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap Fund</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">18.05</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.02</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.06</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.97</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.mrdiy.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">MR D.I.Y Group (M) Berhad (MRDIY)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Hong Leong Value</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Areca Equity Trust</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KAF Vision Fund</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">15.90</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.86</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.13</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.91</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.dufutechnology.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">DUFU Technologies Corporation Berhad (DUFU)</span></a></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Areca Equity Trust</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Eastspring Investment Small Cap</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Kenanga Growth</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maybank Small Cap</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">15.51</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.08</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.85</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.87</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.71</span></p></td></tr></tbody></table></div><br /></span><div><div><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="text-align: justify;"><br /></div><div><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-30434399490438664842021-07-27T02:24:00.001-07:002021-07-27T20:22:24.087-07:00Industry Comparison – Packaging<p><br /></p><span id="docs-internal-guid-9e24fa8b-7fff-636b-390e-f39b218035f5"><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Sector<span> </span><span> </span><span> </span><span> </span><span> </span><span> : Industries Products and Services</span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Sub Sector </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">: Packaging Material</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Focus</span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">: Packaging</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Industry Review</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">With the Covid 19 pandemic around the world, more and more people would buy their item online. The increasing demand of transportation of goods has also increased the demand of packaging. In Malaysia packaging manufacturing is considered an essential business and allowed to operate with a strict standard of procedure during the movement control order (MCO) announced by the Government of Malaysia from 18 of March 2020. For the year 2020 the packaging exposure business had been affected by the lockdown around the World and compensated by the increasing packaging demand locally in Malaysia.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This article would compare three packaging companies listed in Bursa Malaysia.</span></p><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5100" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">BP PLASTICS HOLDING BHD</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> (BPPLAS)</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7248" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">SLP RESOURCES BHD</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> (SLP)</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7034" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">THONG GUAN INDUSTRIES BERHAD</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> (TGUAN)</span></p></li></ol><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Location</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS and SLP only had operations in Malaysia. Where BPPLAS operated in Johor and SLP operated in Kedah. Whereas TGUAN had operations in multiple states in Malaysia and even overseas. TGUAN had operation in Kedah, Perak, Johor, Sabah, China, Vietnam and Myamar.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TGUAN had an operational advantage in the East Malaysia because it had an operation plant in Sabah. Asides that TGUAN had operation plant in other country which enable them to had operation advantage as 41 % of the 2020 TGUAN revenue are from the Asia Country.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BPPLAS</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Malaysia</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asia Countries</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Others</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 90,095,106</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 206,109,601</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 39,987,151</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 313,191,858</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 91,383,589</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 187,262,030</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 37,951,878</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 316,597,497</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Malaysia</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asia Countries</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Others</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 67,059,484</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 69,425,191</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 30,364,237</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 166,848,912 </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 78,312,704</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 54,663,847</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 14,016,223</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 146,992,774</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Malaysia</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asia Countries</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Others</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 185,218,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 423,246,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 330,739,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 939,204,000</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 238,543,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 385,618,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 336,420,000</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 960,581,000</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Base on 2020 revenue, TGUAN had the highest market share which is 66.18 % followed by BPPLAS which is 22.07 % and SLP 11.76 %. Compared to 2019 revenue, 2020 revenue had reduced except for BPPLAS which its revenue remained the same.mainly due to reduction of export to other countries. The reduction of export revenue had covered by the increase of revenue generated from Malaysia. TGUAN local revenue for 2020 had increase by 28.79 % followed by SLP 16.78 % and lastly BPPLAS 1.43 %.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Both TGUAN and BPPLAS had 70 % of their 2020 revenue from oversea market which were affected due to the World lock down. While SLP only had 46.72 % of their 2020 revenue from oversea markets.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Sustainability</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Besides TGUAN which had Debt to Equity ratio of 0.22 and interest coverage ratio of 38.28, BPPLAS and SLP does not have any debt.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Assets & Liabilities</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 years </span><a href="https://www.investopedia.com/terms/c/cagr.asp" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Compound Annual Growth Rate (CAGR)</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> of assets and liabilities were calculated to make comparison.</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Assets</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Liabilities</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.56 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 36pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.56 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.96 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.17 %</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.22 %</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.52 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TGUAN had the highest growth in asset amongst the three companies. Besides that TGUAN growth of company asset is supported by growth of company liabilities.</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Non Current Asset in Malaysia 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Non Current Asset in Malaysia 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 78,704,345</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 36pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">100 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 75,408,057</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">100 %</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 258,134,000</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">85.54 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS and SLP had almost the same non current asset in Malaysia while TGUAN is more than 3 times their size. Both BPPLAS and SLP had their non current asset in Malaysia only while 85.54 % of the TGUAN non current asset in Malaysia.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">With the same non current asset in Malaysia between BPPLAS and SLP both companies shall have almost the same revenue however revenue for SLP in 2020 is RM 146,342,946 or 46.73 % lower than BPPLAS.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Price Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Description</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BPPLAS</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Market Cap (27 July 2021)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 339,651,930.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 301,111,999.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 949,504,486.40</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.83</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.42 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.79 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.20 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">50.70 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">105.85 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.14 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the price analysis BPPLAS had lower P/E compared to SLP which had almost the same market cap and lower P/E compared TGUAN which had three times higher market cap than BPPLAS.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had a high dividend yield of 4.42 % with 50.70 % dividend payout ratio, there is extra cash retained for future extension unlike SLP which dividend pay out is more than the earning for year 2020.</span></p><div><span><br /></span></div><span id="docs-internal-guid-5c65c6cf-7fff-3f8e-b617-ca0a3695e068"><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Du Point Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Description</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BPPLAS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Nett Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.35 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.20 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.36 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asset Turnover</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.10</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.68</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.95</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.19</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.51</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ROE</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.39 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.06 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.01 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SLP had the highest net profit margin, however it had low asset turnover of 0.68 which had reduced the return of equity, ROE of SLP to the lowest amongst the three.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had the highest ROE of 14.39 % and asset turnover more than 1.</span></p><div><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div></span><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Summary</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the above comparison BPPLAS is worth for further analysis.</span></p><div><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-family: "Times New Roman"; font-size: medium; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-family: "Times New Roman"; font-size: medium; text-align: justify; white-space: normal;"><br /></div><div style="font-family: "Times New Roman"; font-size: medium; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com3tag:blogger.com,1999:blog-568865846992321356.post-38636825007854598452021-07-22T18:36:00.000-07:002021-07-22T18:36:06.727-07:00Stock Review – BPPLAS (5100) (BP PLASTICS HOLDING BHD) <p> </p><div style="text-align: justify;"><div><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5100" rel="nofollow" target="_blank">5100</a></span></div><div><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/BPP:MK" rel="nofollow" target="_blank">BPP:MK</a></span></div><div><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/BPPL.KL" rel="nofollow" target="_blank">BPPL.KL</a></span></div><div><span style="font-family: arial;">Webpage - <a href="http://www.bpplas.com/new/">http://www.bpplas.com/new/</a></span></div><div><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/5100.KL/" rel="nofollow" target="_blank">5100.kl</a></span></div></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><div style="text-align: left;"><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industrial Products and Services</b></div><div style="text-align: justify;"><b>Sub Sector <span> : Packaging Material</span></b></div></div><div><b>Focus<span> </span><span> </span><span> </span><span>: PE Films and Bag</span></b></div><div><b><span><br /></span></b></div><div><span id="docs-internal-guid-60a0762a-7fff-1852-3abc-c925d14a5119"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BP Plastics Holding Bhd (BPPLAS) is a progressive Polyethylene (PE) Films and Bags manufacturer deploying the latest state of the art machinery with advanced multi layer co extrusion technology that is capable to produce high quality primary, secondary and tertiary packaging solutions for various market segment needs. </span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had 2 manufacturing plants located in Sri Gading Industrial Estate of Batu Pahat Johor which able to manufacture 8,100 metric tons per month. BPPLAS main focus is in Asia Countries 59.15 % of 2020 revenue followed by Malaysia 28.86 % of 2020 revenue.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">71 % of the BPPLAS revenue and 70 % of purchase cost are in foreign currency predominatory in US Dollar.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Capital Expenditure</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had allocated RM 35,600,000 for CAPEX for the year 2021. BPPLAS is investing in a new 9th Cast Stretch Film machine which is expected to complete by the end of 2021.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Closure of factory due to Convid 19</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">One of the manufacturing plants was closed down by Kementerian Kesihatan Malaysia (KKM) from 19 March 2021 to 28 March 2021 due to 14 foreign workers had tested positive for Convid 19.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="88"></col><col width="107"></col><col width="107"></col><col width="107"></col><col width="107"></col><col width="107"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">324,360,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">328,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">333,780,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">331,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">316,600,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">284,490,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">295,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">292,080,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">288,180,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">260,260,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22,870,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25,030,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26,350,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">38,920,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,870,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,830,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,360,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29,660,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.48 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.66 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Despite the revenue of BPPLAS 5 year CAGR of almost stagnant growth, the nett profit of BPPLAS had growth at rate of 10.66 % over the 5 year. This might be a sign of a cost cost management by the management of the company.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="86"></col><col width="108"></col><col width="108"></col><col width="108"></col><col width="108"></col><col width="108"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">46,043,257.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39,779,518.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">37,827,936.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36,904,107.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36,393,137.00</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Account Receivable Past Due</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.49 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.92 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.29 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.82 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19.85 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.51</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.89</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.90</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.07 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29.40 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">35.22 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.22 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">40.23 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPPLAS trade receivable past due between the range of 19.85 % in 2020 and 33.2 % in 2017 over the past year. BPPLAS had no debt and a high current ratio. BPPLAS had also high in cash where RM 56,825,992 or 67.60 % of cash is in short term investment at 2.52 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="132"></col><col width="98"></col><col width="98"></col><col width="98"></col><col width="98"></col><col width="98"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,580,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,070,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36,950,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16,780,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">58,770,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-13,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-24,480,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-10,740,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-4,660,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-16,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-11,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-7,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-11,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-15,010,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,630,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,280,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,440,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">52,500,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.41 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">49.15 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS has positive growth on cash flow from operation and free cash flow of 30.41 % and 49.14 % respectively. In 2020 BPPLAS had increase it cash flow from operation from RM 16,780,000 in 2019 to RM 58,770,000 in 2020 mainly due to increase of trade payable by RM 34,769,197 two times higher than 2019 trade payable.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="118"></col><col width="101"></col><col width="101"></col><col width="101"></col><col width="101"></col><col width="101"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187,650,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 Dec</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.391</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.093</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.984</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.023</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.441</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.88</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.89</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.97</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.10</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.61</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.99</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.64</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.11</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.71 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS price only grew by 0.71 % for the 5 year despite its free cash flow increase by 49.15 %. BPPLAS had low P/E ratio currently.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="139"></col><col width="97"></col><col width="97"></col><col width="97"></col><col width="97"></col><col width="97"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.08</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.04</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.06</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.06</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.08</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">84.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">58.50 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">52.71 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">53.11 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">50.61 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.75 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.66 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.10 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.87 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.55 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had dividend payout policies to distributed at least 40 % of its profit to its shareholder since 2016. BPPLAS had high dividend yield over the past 5 year higher than 10 year Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dupoint Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="135"></col><col width="97"></col><col width="97"></col><col width="97"></col><col width="97"></col><col width="97"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Net Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.51 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.90 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.40 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.40 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.37 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Asset Turnover</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.34</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.48</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.47</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.10</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.45</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.33</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.26</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.23</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.40</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Return of Equity</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.78 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.79 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.09 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.41 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS net profit margin had increase steady over the five year except in 2017 which the net profit margin is lower due to intense competition and pricing pressure in main exporting market.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Growth Rate</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year average ROE (AROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.15 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year average dividend payout ratio (ADPR)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">59.79 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Ground Rate (GR = AROE x (1-ADPR))</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had a growth rate of 4 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Capital Asset Pricing Model (CAPM)</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Beta of BPPLAS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.56</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Risk Free Rate (10 year Malaysia Government Bond)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.12 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Expected Return (ROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.00 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Cost of Equity = Risk Free Rate + Beta (ROE - Risk Free Rate)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.53 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Altman Z Score Model</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Altman Z Score model is use to predict the chance of business going bankrupt in two years. BPPLAS had a Z score of 5.21 in 2020</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Z Score</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Zone</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">< 1.8</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Distress Zone (Likely to bankrupt)</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: white; border-bottom: solid #434343 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.8 to 3.0</span></p></td><td style="background-color: white; border-bottom: solid #434343 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Uncertain Zone</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: lime; border-bottom: solid #434343 1pt; border-left: solid #434343 1pt; border-right: solid #434343 1pt; border-top: solid #434343 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">> 3.0</span></p></td><td style="background-color: lime; border-bottom: solid #434343 1pt; border-left: solid #434343 1pt; border-right: solid #434343 1pt; border-top: solid #434343 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Safe Zone </span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KENAGA INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12 July 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 2.50</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 2.50</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis </span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BPPLAS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">11.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16.47</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.79</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.76</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS is trading at 12% discount from TGUAN P/E and 49 % discount from SLP P/E.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/PL1e32Y3TxaS2BWjm2y5qiBqIj985hnL5ktWozyUfe-LTIlQulXF4NnE8jeWCeHjRhV_EmWyivAi-Qv_38tVkp-tY6z4J9idUDqh8pO4vKCnfx99_2HITAOUpzciDoCF54kq76h2" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS daily chart show an upward trend.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/SuYvkgDIR3SK_wSkUNYtJc-KpxDzxfOnMWJNUtV5irMQ-Q3IZNLKo85X0i58O2j8YePAtbePt7yYfA2fngtTiXpuI8SmqS5q6fNOYXqqqSxISD6GaY14azwTD70fbFrPnP9FpTX2" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS weekly trend shows an upward trend with a support level of RM 1.67.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh5.googleusercontent.com/nuQ4UjHdOGe55vQIGJta66D6CggU6sKmjMtccJ0ILE7OlmVeOsZf4KYrIfLCl50g0WI9SxyYwmn8iFSUEryu8WXZoltZlNOeKBdIKkf3dOFNYcwZYzaVLtxTWohaMeFxinq3TquD" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maximum drawdown for BPPLAS is 59.01 %.</span></p><br /><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KLSE Personal View</span></p><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Convid 19 had increased the world logistic demand hence the demand of PE films and Bag had increased.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS provides PE films and bag for food and beverage which is essential business hence its manufacturing plant is able to operate during Movement Control Order with compliance of SOP set by the Government of Malaysia.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Since 71.14 % of BPPLAS revenue are from export, the increasing of container cost over the world after convid 19 might affect the profit of BPPLAS.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had nett currency exposure of US dollar of - RM 27,538,255, strengthening of USD after March 2021 would decrease the profit of BPPLAS.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Investment on the new 9th Cash Stretch Film Machine expected to be completed by the end of 2021.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">One of the manufacturing plant had close down for 10 day on March 2021 due to Convid 19 cases. This might affect the production and revenue of BPPLAS.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had low growth in revenue over the 5 year period however its net profit is growing at 10.66 % which indicated the management had done well in cost management.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Despite pandemic BPPLAS manage to control its trade receivable past due at 19.85% in 2020.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS has no debt and is cash rich. 67.60 % of the 2020 cash balance is in a short term investment fund earning interest of 2.52 %.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS had increase its trade payable from RM 34,163,325 in 2019 to RM 68,582,231 in 2020 mainly due to increase of their purchase in raw material in 2020. BPPLAS manages to purchase more raw material in 2020 when the raw material price is low. There is less concern on the increase of trade payable because BPPLAS had RM 84,0466,187 in cash and short investment which was able to pay their supplier.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS is trading at 12% discount from TGUAN P/E and 49 % discount from SLP P/E and has a dividend yield higher than 10 years Malaysia Government Bond over the past 5 years.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BPPLAS current price is at upward trend.</span></p></li></ul><div><span style="font-size: 14.6667px; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: left;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div><br /></div><div style="text-align: left;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></div></span></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-27154671432571993502021-07-20T19:30:00.002-07:002021-07-22T17:38:42.026-07:00Stock Review – GFM (0039) (GFM Services Berhad) <p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=0039" rel="nofollow" target="_blank">0039</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/GFM:MK" rel="nofollow" target="_blank">GFM.MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/GFMS.KL">GFMS.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="http://www.analabs.com.my/">http://www.gfmservices.com.my/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/0039.KL/" rel="nofollow" target="_blank">0039.kl</a></span></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><div style="text-align: left;"><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industrial Products and Services</b></div><div style="text-align: justify;"><b>Sub Sector <span> : Industrial Services</span></b></div></div><div><b>Focus<span> </span><span> </span><span> </span><span>: Facilities </span>Maintenance</b></div><div><b><br /></b></div><div><span id="docs-internal-guid-573cb024-7fff-65b4-e070-fd06db0e14f4"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM Services Berhad (GFM) principle activities in integrated facilities management, consultancy service and asset management of concessions. GFM majority managed government building or building of government link companies. Some of the buildings managed by GFM as of year 2020 as follow:</span></p><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://educity.com.my/about-us/" rel="nofollow" style="text-decoration-line: none;" target="_blank"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">EduCity Iskandar Malaysia</span></a></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Integrated facilities management services provider for EduCity Compound, Edu City Hub. EduCity Complex 2, EduCity Village and EduCity Sports Complex at EduCity, Iskandar Puteri Johor</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1 April 2021 to 31 March 2023</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 6,286,350.24</span></p></li></ul><ol start="2" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.petronas.com/flow/technology/pengerang-integrated-complex" rel="nofollow" style="text-decoration-line: none;" target="_blank"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pengerang Integrated Complex</span></a></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Operation and Maintenance Services for PIC Village 1 and 2 and all associated facilities, Non Process Building and Gate House at Pengerang Integrated Complex</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14 September 2020 to 13 September 2023</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Fixed unit rate</span></p></li></ul><ol start="3" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Universiti Teknologi Mara (UiTM)</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">To carry out the Asset Management Service of the facilities and infrastructure until October 2035.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Make up of 37.90 % of 2020 revenue.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Operating asset of RM 312,522,869 with an interest rate of 9.80 %.</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asides building management, GFM also involve in engineering, procurement, construction and commissioning (EPCC) services such as:</span></p><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Installed Solar Generation system for 6 UiTM campus</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1 July 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 30,000,000 for 11,057 kWp (RM 2,713 per kWp)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit share with Atlantic Blue Sdn Bhd, GFM subsidiary receive 10 % (RM 3,000,000)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2 month per campus after notice to proceed.</span></p></li></ul><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Acquisition</span></p><br /><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Proposed acquisition of 49 % in a downstream oil and gas player, Highbase Strategy Sdn Bhd</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Principally involved in the provision of engineering services for the Oil & Gas industry, including clearing, repair and maintenance services of storage tanks, pressure vessels and heat exchangers in Malaysia</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Project value from 31 December 2020 to 31 December 2024 amount RM 261,100,000</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">51 % joint venture with Singapore based O&G integrated solutions provider, Mun Siong Engineering Limited</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM will subscribe for 2,882,352 new HSSB shares for RM 1.00 (49 % of HSSB shares)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM to proposed to subscribe a minimum 15 millions and up to 20 millions of redeemable convertible preference shares (RCPS) based on issued price of RM 1.00 with a fixed dividend of 6 % per annum.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM also enter into a call option to acquire 117,648 of HSSB shares (2 %) for RM 0.51 per share valid until 31 July 2024.</span></p></li></ul><ol start="2" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Propose acquisition 70 % of AMZASS (M) Sdn Bhd </span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Pay RM 500,000 initial deposit in date return if Definitive Agreement not executed</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Stop date extended three time until 30 September 2021</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Upgrade existing facilities of North bound and South bound Benbam lay-by in state of Malaka into a rest and service area.</span></p></li></ul><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Employees Share Option Scheme (ESOS) and Employee’ Share Grant Scheme (ESGS)</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had two ESOS Option 1 exercise price is RM 0.4555 issue on 30-08-2018 while option 2 is RM 0.4041 issue on 17-06-2019. Both ESOS expired in March 2023. As of 31 December 2020 number of exercisable share option units is 2,172,000 (0.42 % of outstanding shares as of 31 December 2020). ESOS is able to exercise anytime.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">As of 31 December 2020, the ESGS has 199,000 numbers of shares granted. THE ESGS had same expiry date with ESOS.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Warrants</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had a warrant with exercise price of RM 0.38 and expiry date of 28 January 2022. As of 31 December 2020 the number of outstanding warrants is 235,456,129.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="130"></col><col width="130"></col><col width="130"></col><col width="130"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">104,370,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">123,090,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">130,590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">117,530,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">74,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">87,440,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">85,530,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">69,590,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,620,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,270,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,730,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,640,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,560,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="4" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.94 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="4" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-3.67 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM revenue had increase 4.94 % over the 4 year period however the nett profit had decrease by - 3.67 %. The decrease of nett profit was mainly due to the increase of interest expense from Rm 1,030,000 in 2017 to RM RM 23,400,000 in 2020. Besides that, GFM also had highest effective tax rate from 32.01 % in 2017 to 51.72 % in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="103"></col><col width="130"></col><col width="130"></col><col width="130"></col><col width="130"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19,319,518.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16,853,648.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,092,287.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,536,278.00</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Account Receivable Past Due</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">44.88 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">50.41 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">65.26 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36.85 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">377,530,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">353,950,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">330,770,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">D/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.27</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.36</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.89</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.04</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.99</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.83</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.52</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">49.47 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">86.26 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">82.60 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">74.22 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had a high debt of RM 330,770,000. Of the debt RM 167,281,659 (50.57 %) is term loan IV which is a floating rate loan, 2020 interest rate is 5.75% compared to 6.35 % in 2019. GFM is repaying a monthly instalment of RM 1,900,928 over 147 months. This loan was taken due to the construction of UiTM campus.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asides that, GFM had issue RM 165,000,000 medium term notes under sukuk on 21 December 2018 which has a coupon payment due every 6 month with the interest rate of 6.2 % to 6.65 %. The Sukuk tranch is repayable from 2028 to 2033. As of December 2020, the SUKUK value is RM 150,248,861 (45.42 %).</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM has a high current ratio of 2.52 and high cash balance of 74.22 % of the total current asset. Of the RM 73,377,766 of deposit, cash and bank balance, RM 47,563,935 or 64.82% of the cash is pledge to certain borrowing and not able to be use.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="128"></col><col width="128"></col><col width="128"></col><col width="128"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,140,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,720,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,910,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24,980,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,710,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-157,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,920,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-7,950,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">158,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-30,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-19,010,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,790,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16,500,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,760,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24,680,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="4" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.29 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="4" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.66 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2018 there is a large cash flow out from investing due to the acquisition of KP Mukah Development Sdn Bhd, the company that had cossesionair with UiTM. The acquisition is to be supported by cash flow from mid term loans which show in the cash flow from financing.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM is positive growth of cash flow from operation and free cash flow of 15.29 % and 15.66 % respectively.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="130"></col><col width="130"></col><col width="130"></col><col width="130"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">428,100,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">470,910,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">472,280,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">520,880,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 Dec</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.5</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.43</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.18</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.08</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.10</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.17</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.17</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21.53</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26.50</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.95</span></p></td></tr><tr style="height: 20pt;"><td colspan="4" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-22.54 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM is trading at its lowest P/E value since 2017. GFM price is decreasing at the rate of -22.54 %.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="130"></col><col width="130"></col><col width="130"></col><col width="130"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0091</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.011</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0064</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39.19 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">67.80 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.52 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">38.94 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.82 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.56 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.59 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.56 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM dividend yield is below 10 year Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dupoint Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="134"></col><col width="122"></col><col width="122"></col><col width="122"></col><col width="122"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Net Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.52 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.21 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.55 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.28 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Asset Turnover</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.01</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.24</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.25</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.23</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.58</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.95</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.94</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.51</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Return of Equity</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.31 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.69 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.64 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.48 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2020 GFM ROE had increased from 5.64 % in 2019 to 7.48 % in 2020. The increase of ROE was mainly due to increase of net profit margin by reducing operating cost and cost of sales.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Growth Rate</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4 year average ROE (AROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.28 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4 year average dividend payout ratio (ADPR)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39.86 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Ground Rate (GR = AROE x (1-ADPR))</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had a growth rate of 6 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Capital Asset Pricing Model (CAPM)</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Beta of GFM</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.04</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Risk Free Rate (10 year Malaysia Government Bond)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.26 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Expected Return (ROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.00 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Cost of Equity = Risk Free Rate + Beta (ROE - Risk Free Rate)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.49 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Altman Z Score Model</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Altman Z Score model is use to predict the chance of business going bankrupt in two years. GFM had a Z score of 1.11 in 2020</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Z Score</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Zone</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: red; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">< 1.8</span></p></td><td style="background-color: red; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Distress Zone (Likely to bankrupt)</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.8 to 3.0</span></p></td><td style="background-color: white; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Uncertain Zone</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">> 3.0</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Safe Zone </span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">No recent research report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/GABcWVy7ycb9tCtA4wS6kzY-If9mb34j6ImVsEjfF7L2q0jG8LnFrMFuKSy4rlExd9pcX_CGhA0JlfFtOybMzap568hN9TwzyVM929a7_skV9l8sxR2HxnzKLq_uXSl7P6OL_N_s" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM daily chart shown downward trends support level RM 0.17</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/iTxmTSu-nGMjAilXy1RVwU2IYgGZeiNC_Z9CZRU2HtyXLsSjgDnLQ3SEsJ3FjXSLJBjRO_nXuoWkGoASK7zzO6z6nXc9Vy2vNiHXnBFN8lBxhhsZtH0CzzcgphutvovjQyAwMdiH" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM weekly chart shown a weak upward trend base on ichimoku cloud. Support at RM 0.19 Resistance at RM 0.46.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh5.googleusercontent.com/zkZFLzkiU4DXr_GPbbh42dMH1YPLOvGJ2XYBqbkkZbZVH3iAotP3ucIh9Z7mxBAWMhalu0DKYofottvA3lqIBC_4BCbgQa7l4756_-OcNuZAYieBUmiTsdgyQIAXY9Hr5G_WyKoP" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maximum drawdown for GFM is 90 %.</span></p><br /><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KLSE Personal View</span></p><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM customer mostly are government or government link companies, political unstable might affect the revenue of GFM if their maintenance contract is not extended</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Has operating lease of RM 312,522,869 until 2035 for UiTM. Stable income until 2035. Around RM 45,000,000 of 37.90 % of the 2020 revenue is secured until 2035.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10 % partnership for EPCC contract to build Solar System for 6 number UiTm campus. RM2,713 per kWp which is a reasonable price during the signature of contract however with current increasing and unstable cost of photovoltaic cells the price might be a bit tight. RM 3,000,000 to GFM is completely done</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Acquisition of 49 % in Highbase Strategy Sdn Bhd (HSSB) - O&G downstream company. RM 2,882,359 for 49 % of share. Projected value of HSSB contract until 2024 is RM 261,100,000 (estimated RM 102,351.20 - 0.8 safety factor)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had a call option to purchase 2 % of HSSB share at RM0.51 (49 % discount) until 31 July 2024. GFM management can exercise the option and make HSSB subsidiary of GFM when they think HSSB is profitable for the company</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM plans to subscript Rm 15 million to RM 20 million of RCPS with a fixed 6 % per annum.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM proposal to acquired AMZASS (M) Sdn Bhd which had contract to upgrade existing plus highway north bound and south bound Benbam lay by in state of Malacca into rest area. However it had proposed three time. Latest Stop date is 30 September 2021. RM 500,000 deposit had been paid to AMZASS.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ESOS and Warrant are out of money at the point of writing.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM took out RM 317,530,520 (96 % of 2020 total debt) to support the concessionaire with UiTM which had operating lease of RM 312,522,869 until 2035</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">GFM had positive flow in free cash flow while negative growth in price. The price did not growth with the company's free cash flow.</span></p></li></ul><div><span style="font-size: 14.6667px; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: left;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div><br /></div><div style="text-align: left;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></div></span></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-11423051611561537392021-07-09T20:11:00.003-07:002021-07-12T17:14:41.876-07:00Stock Review – ANALABS (7083) (ANALABS RESOURCES BERHAD)<p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7083" rel="nofollow" target="_blank">7083</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/ALR:MK" rel="nofollow" target="_blank">ALR:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/ANREbi.KL">ANRE.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="http://www.analabs.com.my/">http://www.analabs.com.my/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/7083.KL/">7083.kl</a></span></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><div style="text-align: left;"><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industrial Product & Services</b></div><div style="text-align: justify;"><b>Sub Sector <span> : Industrial Services</span></b></div></div><div><b>Focus<span> </span><span> </span><span> </span><span>: Resin, Chemicals and Building Materials</span></b></div></div><div style="text-align: justify;"><span id="docs-internal-guid-a11750dc-7fff-a447-9acf-3f8696a86712"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Analabs Resources Berhad (ANALABS) has been involved in the environment and industrial related business since 1936 in Singapore and 1965 in Malaysia. ANALABS has diversify into five different segment:</span></p><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing Formulation and Sale of Resin, Chemicals and Building Materials</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Main segment of ANALABS contributed 76.21 % of 2021 total revenue.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Involved in manufacturing, formulation and sale of resin, chemicals and trading of tiles.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Would be affected by high raw materials price and exchange rate fluctuation.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit margin had increase from 12.27 % in 2020 to 16.12 % in 2021</span></p></li></ul><ol start="2" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Recovery and Sale of Recycled Products</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contributed 7.94 % of 2021 total revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Involved in collecting, treating, recovering and recycling of industrial waste and sales of recycled products.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit margin had increase from 1.90 % in 2020 to 19.82 % in 2021</span></p></li></ul><ol start="3" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Culture and Sale of Pawn</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contribute 0.48 % of 2021 total revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Involves in bleeding and selling prawns.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This segment makes losses for most of the time.</span></p></li></ul><ol start="4" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Investing Holding and Property Letting</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contributed 2.41 % of 2021 total revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Involved in investment holding, management services and property letting.</span></p></li></ul><ol start="5" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contract Work, Pipe Laying and Rehabilitation</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Second largest segment of ANALABS which contributed 12.96 % of 2021 total revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Involved in General contracting</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The only segment in ANALABS which does not make loss in Q4 2020 (Quarter end April 2020)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit margin had increased from 17.40 % in 2020 to 20.67 % in 2021.</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">117,490,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">110,860,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">129,780,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">137,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">149,760,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">93,590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">90,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">115,300,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">113,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">120,700,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20,080,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,370,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,030,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,030,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,940,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,690,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,060,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,070,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,190,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-4.74 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.12 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 383px; overflow: hidden; width: 624px;"><img height="383" src="https://lh3.googleusercontent.com/vw1WI9bxLpsCZThHIrf15rLsSU2fNVueWSQoELIfZZINTerXUxewUfOwVAt1__rxA8RM2b_FH40Y73S31cXakSJ8j01c26N_vSwBpmNbFPtK7kKMo2qRL_zVzpmYcL5B9UrpfQq6" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Revenue of ANALABS had decreased over the year with a CAGR of -4.74 %. ALABS had low net profit in 2019 due to surge of raw material cost and currency fluctuation. ANALABS nett profit had increase significantly for year 2021 which increase from RM 8,690,000 in 2020 to RM 17,310,000 in 2021, an increase of 99.19 %. The increase of net profit mainly due to higher profit margin.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="103"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30,760,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20,933,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24,296,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30,231,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29,870,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Account Receivable Past Due</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Pending AR 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">80.99 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">46.54 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.38 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.27 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">75,210,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">53,030,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22,810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,450,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">D/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.27</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.21</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.09</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.07</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.77</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.67</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.79</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.47</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">37.84 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">34.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">51.67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">46.53 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">While waiting for 2021 annual report, ANALABS trade receivable past due for 2020 had raised a red flag by increasing from 46.54 % in 2019 to 80.99 % in 2020. In Addition, the debt for 2021 also increased from RM 53,030,000 in 2020 to RM 75,210,000 in 2021, an increase of 41.83 %. ANALABS current ratio had also dropped to less than 1.0 for 2021 from 1.03 in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,100,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,230,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,040,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,820,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22,870,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-33,820,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-31,640,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-49,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-3,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-8,440,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18,580,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,720,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,410,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,880,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-7,650,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,760,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,170,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,290,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-13.46 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-12.76 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANALABS cash flow from financing is positive since 2018 which means ANALAB had been borrowing since 2018. Besides that, ANALABS 5 year CAGR of Cash Flow from Operation is -13.46 %. ANALABS also had negative growth for free cash flow with CAGR of -12.76 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">108,930,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">108,950,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">108,950,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">112,210,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">112,210,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 30 April</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.16</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.9</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.025</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.125</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.51</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.03</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.30</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.28</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.61 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANALABS price is lower than book value per share, it is trading at 53.78 % discount. Asides that ANALABS has low P/E, the lowest P/E since 2017.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.01</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0325</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.59 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.07 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">53.67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.14 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32,59 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.72 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.22 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.79 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.98 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.89 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.16 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.89 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.81 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.09 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANALABS dividend yield is lower than 10 year Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dupoint Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="134"></col><col width="98"></col><col width="98"></col><col width="98"></col><col width="98"></col><col width="98"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 April 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Net Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.73 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.84 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.13 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.32 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.47 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Asset Turnover</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.38</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.44</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.50</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.43</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.39</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.27</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.24</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.25</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Return of Equity</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.40 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.50 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.71 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Net Profit Margin of ANALABS had increase from 7.84 % in 2020 to 14.73 % in 2021.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asset turnover of ANALABS had decreased over the year from 0.5 in 2017 to 0.29 in 2021.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier or Financial Leverage of ANALABS had increase from 1.25 in 2017 to 1.43 in 2021.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Growth Rate</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year average ROE (AROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.95 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year average dividend payout ratio (ADPR)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.01 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Ground Rate (GR = AROE x (1-ADPR))</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANALABS had a growth rate of 3 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Capital Asset Pricing Model (CAPM)</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Beta of ANALABS</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.29</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Risk Free Rate (10 year Malaysia Government Bond)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.24 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Expected Return (ROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.95 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Cost of Equity = Risk Free Rate + Beta (ROE - Risk Free Rate)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.45 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Altman Z Score Model</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Altman Z Score model is use to predict the chance of business going bankrupt in two years. ANALABS had a Z score of 2.38 in 2020</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Z Score</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Zone</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">< 1.8</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Distress Zone (Likely to bankrupt)</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: yellow; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.8 to 3.0</span></p></td><td style="background-color: yellow; border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Uncertain Zone</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">> 3.0</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Safe Zone </span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">No recent research report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis </span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">ANALABS</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JAG</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TEXCYCL</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">LUXCHEM</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">8.43</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.93</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.36</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">1.74</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.14</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/6J2qzo9wrqaQnNzg6t_9aBVHC7baI6SUqn6S_-6_oHj-mkA2CNpRe1Z4OVLnezLRKezq9HeebKkU_sBR2alUh0F85CCEioLJYWvRq2baZg-aW9W1cZgu-_xZ-XNljfn2POIQ5Abc" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANALABS daily chart does not show any trend.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/afBB9IPMJxcsOXPx6nFSx7ALIPJ7t98x5znulblOG1hxuM5GKJbiEyOKDqJmupvoPB9SUFa4D2i0sAUiXDjm8cjQnI5f3exKCYFdZclez9e2d1tKodQA1VBFT6jiaggKlsvBOAD8" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANALABS weekly chart show ascending triangle, uptrend continuing if price break RM 1.170.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh5.googleusercontent.com/S_RL53liTa_Y1eGEUwdV4ta8rwQaGmGNSJ6QjRe4M1OEtYPlsVfut47TOL83RsF_k7Ykj0ETrwGy4LfagvvDGRuanJbxXOTJUV326r7i_3VlHq-7oSNQ45vwEaunLobKO2RuNBVT" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maximum drawdown for ANALABS is 29.44 %.</span></p><br /><div style="text-align: left;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div><br /></div><div style="text-align: left;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div><br /></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-16451321482587614422021-07-07T20:28:00.001-07:002021-07-12T17:14:18.130-07:00Stock Review – JOHOTIN (7157) (JOHORE TIN BERHAD) <p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7167" rel="nofollow" target="_blank">7167</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/JOHO:MK">JOHO:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/JHTN.KL">JHTN.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="http://www.johoretin.com.my/">http://www.johoretin.com.my/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/7167.KL/">7167.kl</a></span></div><div style="text-align: justify;"><span style="font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Consumer Products & Services</b></div><div style="text-align: justify;"><b>Sub Sector : Food & Beverages</b></div></div><div style="text-align: justify;"><b>Focus<span> </span><span> </span><span> </span><span>: Tin & Dairy Products</span></b></div><div style="text-align: justify;"><b><span><br /></span></b></div><div style="text-align: justify;"><span id="docs-internal-guid-b4aea538-7fff-728c-20f8-3960ed4490ab"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Johore Tin Berhad (JOHOTIN) was incorporated in Malaysia on 22nd November 2020. JOHOTIN involved in two segments:</span></p><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Tin Cans Manufacturing</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21.72 % of 2020 revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing of various tins, cans and other containers and providing tin plate services.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Most customer are locally base, with minor market shares in Singapore</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Customer base consists of various industries mainly in biscuits, paint and chemical, edible oil and food processing industries.</span></p></li></ul><ol start="2" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Food & Beverage </span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">78.28 % of 2020 revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing and selling of milk and other related dairy products, as well as packing and trading of all types of dairy products.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Dairy products comprise of sweetened condensed milk, evaporated milk and milk powder with the brand name Able Farm, Able LAC, Able Mama.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">80 % of the dairy products are exported, mainly to West Africa, South East Asia Region and American Continent.</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">502,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">579,790,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">501,120,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">474,550,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">441,200,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">370,530,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">439,340,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">385,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">377,730,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">331,180,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">53,220,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">60,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">48,350,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33,580,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">46,790,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">48,190,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25,830,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">35,440,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.63 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.37 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 383px; overflow: hidden; width: 624px;"><img height="383" src="https://lh4.googleusercontent.com/hNt7bq50Ls-rsw-EyHXy8eMjPDshWhkrz5jj88eZHu9V_pm696mFisSWBHH73yj4elN1B9cK136CFKADw9CiTrTn_TapjmzvLoUHBKQ8LczahYFhkIni84gNZv12dD8Fv2Re4aQw" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN revenue had increased for the year 2016 to 2019 with a CAGR of 7 % before the Convid 19 pandemic. In 2020 the revenue had dropped from RM 579,790,000 in 2019 to RM 520,260,000, a drop of 10.23 % due to the factory being unable to operate at full capacity during Movement Control Order by Government of Malaysia in March 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the Q1 2021 financial report, JOHOTIN is recovering from the drop in revenue due to pandemic in 2020. Despite lower revenue in Q1 2021 the profit from Q1 2021 is on par with the profit before the pandemic due to higher profit margin.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="103"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">89,092,975</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">97,784,025</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">112,953,453</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">79,567,756</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">83,501,184</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Account Receivable Past Due</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.88 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32.66 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.18 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">44,990,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">49,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32,410,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">43,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">67,660,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">D/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.13</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.10</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.30</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.94</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.79</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.51</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.92</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.14</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32.96 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26.60 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.38 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">31.36 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26.40 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN percentage of account receivable past due had reduced from 33.18 % in 2016 to 25.15 % in 2020. Asides that, JOHOTIN total debt and debt to equity ratio had also reduced. JOHOTIN has a strong current ratio of 2.94 in 2020 while 32.96 % of the current assets are cash.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">48,300,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">43,810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41,580,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20,340,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">81,610,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-29,300,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-31,480,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-17,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-9,750,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-21,110,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-8,150,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-25,970,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,480,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-45,580,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">46,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30,360,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18,180,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,180,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">71,210,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-9.96 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-8.11 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN CAGR of cash flow from operation is -9.96 % and CAGR of free cash flow is - 8.11 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">307,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">310,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">310,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">310,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">248,810,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 Dec</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.01</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.73</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.96</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.21</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.23</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.06</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.98</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.90</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.86</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.52</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.54</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.64</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.32 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN had lower book value per share compared to its current price. Asides that its price had increase with CAGR of 10.32 % while its free cash flow had decrease with CAGR of -8.11 %.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.054</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.064</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.04</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.04</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.69 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.23 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">42.46 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">48.08 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.08 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.69 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.70 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.21 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.31 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.25 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN has a dividend payout of around 40 % and dividend yield match with 10 year Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dupoint Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="148"></col><col width="95"></col><col width="95"></col><col width="95"></col><col width="95"></col><col width="95"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Net Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.93 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.31 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.30 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.44 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.03 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Asset Turnover</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.13</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.27</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.32</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.33</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.41</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.36</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.54</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Return of Equity</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.19 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.16 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.63 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.91 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.78 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Net Profit Margin of JOHOTIN is around 8 % over the 5 years except 2017. Net profit margin for 2020 stayed around 8 % despite convid 19.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asset turnover of JOHOTIN had reduced from 1.28 in 2019 to 1.07 in 2020 maybe due to convid 19. Asset turnover of JOHOTIN might increase after the recovery of the economy.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Equity Multiplier or Financial Leverage of JOHOTIN had decreased from 1.54 in 2016 to 1.32 in 2020 which means the company had reduced its debt over the five year.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Growth Rate</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year average ROE (AROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.33 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year average dividend payout ratio (ADPR)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">40.31 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Ground Rate (GR = AROE x (1-ADPR))</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN had growth rate of 7 %</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Capital Asset Pricing Model (CAPM)</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Beta of JOHOTIN</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.7</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Risk Free Rate (10 year Malaysia Government Bond)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.24 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Expected Return (ROE)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Cost of Equity = Risk Free Rate + Beta (ROE - Risk Free Rate)</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.37 %</span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PUBLIC INVESTMENT BANK</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13 April 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 2.08</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 2.08</span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis </span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DLADY</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">F&N</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">11.04</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">31.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.87</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">3.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.39</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.29</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN had lower P/E compared to its peers. Asides that It had a higher dividend yield.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/gGtsC9LOzXGL2hTYXEUIGEDkMNp9d7jTG7lStARJqY8iv0GsTfrpJxdJTeBbCpvevitMrBN6c6O9vqiHtUEGlpV8mpv9I2aoy9FnI_sHHPMUDRUKvN6fNUKcPg9uDrm7WXUwfyd4" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN daily chart show a downward trend with a support level at RM 1.48. Price might go upward if it is above the Ichimoku cloud at RM 1.625.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/kjASeURCAZczRBlYFnjtwLRYuas7kxuU8janE0PB7i1wQ_eTxe4Cao7JMnlTMkLcolSNv8ogwNmMODVClrqnfe2kEVQjthA-xTRywYQc1_K8bQFo3VSLx4r1d2gDkoej7m2WnQLY" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">JOHOTIN charts is testing it to support RM 1.53. JOHOTIN going downtrend if price is below RM 1.53.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><br /></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh5.googleusercontent.com/iP5tTWZeuFttQDXzDDP59Tc1je_FSQQleXIKsMcQRkp_USdLU2t2MVO7C8IlDhNWOA8p8qw5_fFiVRhNfzfDe1pVfx94hz0le--VJ621Nbu0jaeH8oQ8e3rJqao_GPNtvTg4y243" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span id="docs-internal-guid-37b107c7-7fff-ab44-c023-01f04cbb88ef"></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Maximum drawdown for JOHOTIN is 54 %.</span></p><br /><div style="text-align: left;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div><br /></div><div style="text-align: left;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-44688101221602095522021-07-04T22:35:00.004-07:002021-07-04T22:35:26.746-07:00Stock Review – WPRTS (5246) (WESTPORTS HOLDING BERHAD) <p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5246" rel="nofollow" target="_blank">5246</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/WPRTS:MK" rel="nofollow" target="_blank">WPRTS:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/WPHB.KL" rel="nofollow" target="_blank">WPHB.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="https://www.westportsholdings.com/">https://www.westportsholdings.com/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/5246.KL/" rel="nofollow" target="_blank">5246.kl</a></span></div><div style="text-align: justify;"><span style="font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Transportation and Logistics</b></div><div style="text-align: justify;"><b>Sub Sector : Transportation and Logistics Services</b></div></div><div style="text-align: justify;"><b>Focus<span> </span><span> </span><span> </span><span>: <a href="https://ivkls.blogspot.com/2021/06/industry-comparison-port-operation.html" rel="nofollow" target="_blank">Port Operation</a></span></b></div><div style="text-align: justify;"><b><br /></b></div><div style="text-align: justify;"><span id="docs-internal-guid-c03e1315-7fff-9c1d-121e-bcaeb13716af"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Westports Holding Berhad (WPRTS) primarily manages port operations dealing in container and conventional cargo. Westports is located in Port Klang and it is one of the three main ports in the Strait of Malacca. The other two main ports are in Penang and Johor which are operated by MCC Corporation Berhad which is currently undergoing selective capital reduction (privatisation).</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS is granted a license to provide port service with the Government of Malaysia and Port Klang Authority until the year 2054. </span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Capacity</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Container Throughput (in TEU)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,504,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.861,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,500,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,900,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Conventional Cargo Throughput (Tonnes)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,800,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Container Throughput (in TEU)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.19%</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Conventional Cargo (Tonnes)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1.57 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Despite Convid 19, Westport was able to maintain its container throughput in 2020 and increase its conventional cargo throughput by 1,000,000 tonnes, 10 % increase. WPRTS do not meet it mission of 12 millions TEUs and 12 million tonnes by 2020 as stated in the 2017 annual report.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,974,970,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,782,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,614,690,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,088,610,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,035,020,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">811,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">671,160,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">660,210,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,162,630,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,043,730,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">865,070,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">773,810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">701,220,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">676,880,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">754,820,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">654,490,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">590,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">533,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">651,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">636,980,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.60 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.54 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 383px; overflow: hidden; width: 624px;"><img height="383" src="https://lh4.googleusercontent.com/6PzjEhaf1TXnQ4FCzIa2GYALkTDJ_ekx79iF7FKQmFibbLWiXYCnJolHSYofuHOib_sZV6250jz2rlcAw_FHHUKOlbg-2lvIG_FE-mYapwZqXnfhpAyHVQpttEL8doUv3Mjrssri" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS revenue had drop significantly mainly due to revenue classification in accordance with MFRS 15. Other than that, the revenue of WPRTS had increased steadyly. From 2018 to 2020 WPRTS revenue had increase at a CAGR of 6.94 %. WPRTS also had a consistent net profit margin of 33 % from 2018 to 2020. 12 % of 2020 revenue or RM 235,305,000 is contributed from one major customer.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="103"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">252,147,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">275,653,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">287,615,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">251,315,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">280,919,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Account Receivable Past Due</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">31.19 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">31.89 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.61 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39.82 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.28 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Service Concession obligation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,468,069,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,357,790,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,429,240,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,389,219,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,074,114,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,365,800,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,461,270,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,500,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,500,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,150,000,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">D/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.48</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.57</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.62</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.66</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.56</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.58</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.63</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.60</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">73.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">65.69 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">50.38 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">63.62 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">55.36 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS had concessions to provide port service until 2054 hence RM 2,468,069,000 or 46.91 % of 2020 total assets. Percentage of Account Receivable past due had dropped from 41.61 % in 2018 to 31.19 % in 2020. WPRTS has a high current ratio of 1.58 and high cash reserve which is 73.33 % of the current asset is cash.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS had Debt to equity ratio of 0.48 which is lower than its </span><a href="https://ivkls.blogspot.com/2021/06/industry-comparison-port-operation.html" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">industrial average</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> of 0.62. WPRTS has repayment of Sukuk Musharakah Medium Term Bond (SMTN) of RM 1,150,000,000 where RM 575,000,000 is from 2021 to 2024. In 2020 WPRTS has RM 779,123,000 in cash and short term investment which is sufficient to pay the repayment up to year 2024. Asides that the SMTN hold by WPRTS has an interest rate between 4.15 % to 5.38 % which is high compared to the current 10 year Malaysia Government Bond of 2.68 % only. Currently WPRTS is able to issue new SMTN with a lower interest rate.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,024,720,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">959,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">587,550,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,085,200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">938,670,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-355,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-64,390,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-197,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-798,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-361,120,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-586,710,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-645,330,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-507,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-150,110,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-554,370,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">701,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">879,250,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">377,740,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">273,210,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">448,180,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.77 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.38 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS has a 5 years CAGR of cash flow from operation is 1.77 % and 5 years CAGR of free cash flow is 9.38 %. </span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,410,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,410,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,410,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,410,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,410,000,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 Dec</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.30</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.21</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.62</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.7</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.3</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.11</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.06</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.00</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.14</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19.36</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.02</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.00 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS had low book value as 46.97 % of the assets are concession assets which are identified by intangible assets. WPRTS 5 years CAGR of price is 0 % although its 5 years CAGR of free cash flow is increasing by 9.38 %. Despite revenue reclassification in 2018, WPRTS P/E is lower in 2020 compared to 2016 which had the same price.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.1152</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.13</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.1173</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.1432</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.14</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">60.02 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">75.02 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">74.98 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">74.95 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">74.95 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.09 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.24 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.87 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.26 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS dividend yield is lower than the 10 years malaysia government bond. Asides that WPRTS had a high dividend payout of around 75 % except in 2020 dividend payout is 60.02 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">No recent research report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis (</span><a href="https://ivkls.blogspot.com/2021/06/industry-comparison-port-operation.html" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Port Operation</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">)</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">WPRTS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MMCCORP</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">20.32</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.86</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.47</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2.72</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.76</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS had the same dividend yield compared with other port operators in Malaysia. However MMCCORP had lower PE compare to WPRTS and BIPORT mainly because MMCCORP is in a more diversify business only 70 % on revenue for MMCCORP are from port operation.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/Wdj7oM02DbRJ66xJ20gW2lkBryxEwLzWetSRE_T0r0_LSPT6bdPwgD12OVU8pCeosFY69Kl1y939JtDtFHaSm2xQB2z0S5bobJf6wOuCX9OJMG7hMBbXK9sTG82DQs4VC10aaQ4H" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS daily chart show a downward trend.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/_8_6EvSnaGupEKiMbW4DNDB5h-lTMtziaretwMY2mCizlRW296w-6NYqalBaiWfu57HQgs53NZCH_8yty_1_esplnXyIwGi5kOsUSStzLmVzMy4SL2fbzoxuDexpeo9u2uP5Z1Dt" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly charts show an upward trend forming an ascending triangle. The breakup point would be RM 4.4 for the trend to continue.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/sgHmvPlgCayuSHiYoqTRsbJfcB1MJWgSypCP2IJYjeWlsUDa_8Qy55sT_fnRIMQPtU6jJ4x_JvQMRWNcea6HTN9tqQiCcL6bcnBtBDBzHhCZUe9xu7Tlh_84ac7eiE8LkPBtLfiq" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Maximum draw-down for WPRTS is 51 %.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; text-align: left; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; text-align: left; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-84102968708079502062021-06-28T23:52:00.001-07:002021-06-28T23:52:19.239-07:00Industry Comparison – Port Operation<p><br /></p><span id="docs-internal-guid-ab647293-7fff-f4e8-0dcc-e7149b891379"><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Sector </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">: Transportation and Logistics</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Sub Sector </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">: Transportation and Logistics Service</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Focus</span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span class="Apple-tab-span" style="white-space: pre;"> </span></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">: Port Operation</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Industry Review</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Base on </span><a href="https://unctad.org/news/unctad-maritime-connectivity-indicators-review-critique-and-proposal" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Linear Shipping Connect Index (LSCI)</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> which measure the maritime connectivity base on five components annually</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The number of shipping lines servicing a country</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The size of the largest vessel used in services (in </span><a href="https://www.freightright.com/kb/teu" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">TEU</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">)</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The number of services connecting from one country to another country</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The total number of vessels deployed in a country</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The total capacity of those vessels (in </span><a href="https://www.freightright.com/kb/teu" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">TEU</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">)</span></p></li></ol><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 548px; overflow: hidden; width: 624px;"><img height="548" src="https://lh6.googleusercontent.com/MMDqWXkYmX3tkOFAgVVGJjz0dfwGhp9IqXVwSDvyudz3PEw-7ekTaBwmBIefqRx5u-_vjOJ0sLKShlSVnpC48Ns64JFCTeaGurBGOe2_zUY1VL28YTapmz1jnxsX8omE5lhg105b" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the table published by </span><a href="https://unctad.org/about" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">UNCTAD</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">, the LSCI around the world does not reduce despite the Covid 19 Pandemic. As of Q3 2020 Malaysia ranked 4th in the Asia region right behind China, Singapore and Korea while ranked 5th in the world behind China, Singapore, Korea and the United States of America.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Malaysia had 3 public listed company listed in BURSA Malaysia which is</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="http://www.bintuluport.com.my/" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Bintulu Port Holdings Berhad (BIPORT)</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> - SARAWAK</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.mmc.com.my/" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">MMC Corporation Berhad (MMCCORP)</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> - Straits of Malacca and Saudi Arabia</span></p></li><li aria-level="1" dir="ltr" style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://www.westportsholdings.com/" style="text-decoration-line: none;"><span style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Westports Holdings Berhad (WPRTS)</span></a><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> - Port Klang</span></p></li></ol><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Business Diversification</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Let look at the business diversification of the company by looking at the percentage of revenue obtained from port operational business.</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue 2020 (Port Operation)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Revenue (Port Operation)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 669,285,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">93.51 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MMCCORP</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 3,261,390,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">69.61 %</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">WPRTS</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 1,974,968,000</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">100.00 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the table above MMCCORP had the highest revenue for financial year 2020 however MMCCORP had diversified into other business such as, energy and construction instead of just focusing on port operation. Both MMCCORP and WPRTS had operations in port klang while WPRTS had around 80 % of market shares in port klang. MMCORP had operated other ports located in Penang, Johor and Saudi Arabia asides port in port Klang.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT operated ports in Bintulu, Sarawak with 93.51 % of the revenue are from port operation while the remaining are from bulking service.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Operation</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><a href="https://efinancemanagement.com/financial-analysis/operating-margin-ratio" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Operational margin ratio</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> is calculated and use as a comparison. Companies with the highest operating ratio have more probability to survive in today's pandemic. The average operational margin ratio of the three companies for 2020 is </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">33.61 %</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Operating Margin Ratio 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Operating Margin Ratio 2019</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.52 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">31.82 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MMCCORP</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.21 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.10 %</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">WPRTS</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">47.11 %</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">47.61 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT operating margin had affected by the pandemic with a reduction from 31.82 % in 2019 to 25.52 % in 2020 which is 19.80 % reduced while the other two companies are not affected much from the pandemic.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS had the highest operating margin ratio compared to the other two companies in 2020 and 2019.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Sustainability</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">For the sustainability of the business, debt of the companies is being reviewed. There are two criteria to look at the </span><a href="https://www.investopedia.com/terms/i/interestcoverageratio.asp" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">interest coverage ratio</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> which is use to determine how easy the companies able to pay off the interest of outstanding debt and </span><a href="https://www.investopedia.com/terms/d/debtequityratio.asp" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">debt to equity ratio</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">. The average of interest coverage ratio for 2020 is </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5.73 </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">and debt to equity ratio is </span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">0.62</span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">.</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Interest Coverage Ratio 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt to Equity Ratio 2020</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.43</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.68</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MMCCORP</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.48</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.71</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">WPRTS</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">11.28</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">0.46</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">WPRTS have the highest interest coverage ratio and lowest debt to equity ratio for the year 2020.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Assets & Liabilities</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 years </span><a href="https://www.investopedia.com/terms/c/cagr.asp" style="text-decoration-line: none;"><span style="color: #1155cc; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Compound Annual Growth Rate (CAGR)</span></a><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> of assets and liabilities were calculated to make comparison.</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Company</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Assets</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Liabilities</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BIPORT</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.11 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 36pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1.12 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MMCCORP</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.52 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.15 %</span></p></td></tr><tr style="height: 0pt;"><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">WPRTS</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">2.52 %</span></p></td><td style="background-color: #93c47d; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;"><span style="background-color: transparent; font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">-3.76 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Summary</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the above comparison WPRTS is worth further detailed analysis.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p></span><div><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="text-align: justify;"><br /></div><div><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-47810699994670973752021-06-23T00:01:00.001-07:002021-06-23T00:01:44.030-07:00Stock Review – REXIT (0106) (REXIT BERHAD) <p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=0106">0106</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/REXI:MK" rel="nofollow" target="_blank">REXI:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/REXT.KL" rel="nofollow" target="_blank">REXT.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="https://www.rexit.com/">https://www.rexit.com/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/0106.KL/" rel="nofollow" target="_blank">0106.kl</a></span></div><div style="text-align: justify;"><span style="font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Technology</b></div><div style="text-align: justify;"><b>Sub Sector : Software</b></div></div><div style="text-align: justify;"><b>Focus<span> </span><span> </span><span> </span><span>: Software (Financial and Insurance)</span></b></div><div style="text-align: justify;"><b><span><br /></span></b></div><div style="text-align: justify;"><span id="docs-internal-guid-0e4b83cc-7fff-eeb0-3c7f-8054fddc395f"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Rexit Berhad (REXIT) is a company that focuses on delivering solutions and services to Financial Service Sector particularly the General Insurance Industry.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT had three product namely:-</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">e-Cover - Enabling online insurance transaction</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Provides electronic link between insurance companies and Malaysia Road Transport Department (“JPJ”)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manage and operate the my Salam portal for eligible members, on 29 July 2019 amended agreement was signed to a five year term subject to regulatory authority approval. Initial approval from 1 January 2019 to 31 December 2020 further extension for 2 years after expiry.</span></p></li></ul><ol start="2" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">e-PPA - Enabling online unit trust investment through EPF</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Industry platform for submission of unit trust investment and redemption applications which are settled electronically using the EPF member’s contribution.</span></p></li></ul><ol start="3" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">InfoGuardian - Enabling online legal documentation</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Is an integrated workflow, case management and document management system specially designed for financial and legal services industries, to provide and facilitate an online information sharing environment for multiple users within and outside customer organication</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">One local bank (RHB Bank) and international bank (Al Rajhi Bank) together with their panel of legal firms and property valuation firms is using the service.</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25,540,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.720.000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20,580,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18,840,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,930,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,610,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,930,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,850,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,270,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,840,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,860,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,550,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,860,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.27 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.77 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 383px; overflow: hidden; width: 624px;"><img height="383" src="https://lh3.googleusercontent.com/QjzMvLd8_MxTH7Jy3ah8Ya7rUY1HOK9uTLpq6TuFgdIQElI04ZpR-AtH-zpPgiJbO4SpBgQ0ykuq5nEkil2KGxa6fyxuIuWVFvGeby773ZMzGDMMALqoJAfOxLETdz-5X6vFs-l2" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT revenue and net profit had increased steadily for the past five years. However after look in the 2020 annual report there is no revenue recognised at the point in time for year 2020. Revenue recorded in the income statement would only be recognised in the future.There is a risk that the customer is unable to pay to REXIT in the future. </span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asides that, 3 major customers had contributed 48.91 % of its 2020 revenue. REXIT is mainly focus in 2 countries Malaysia and Hong Kong, 81.20 % of REXIT 2020 revenue are from customers located in Malaysia while Hong Kong customers contributed 16.43 % of the revenue.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="110"></col><col width="98"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,204,306</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,250,035</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,734,900</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,520,588</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,641,530</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Percentage of Account Receivable Past Due</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">50.80 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">68.76 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18.95 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.20 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29.20 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.98</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.57</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.84</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">65.34 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">82.06 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">90.31 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">89.30 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">88.33 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2019 there is a significant increase in account receivable from RM 2,734,900 in 2018 to RM 5,250,035 in 2019 91.96 % increase mainly due to the My Salam Portal. However the percentage of account receivable past due had also increase to 68.76 % in 2019 from 18.95 in 2018. In 2020, 76 % of account receivable are from 4 major customers.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT had high current ratio and high cash / current asset ratio. In 2020 there is an decrease in cash / current asset ratio mainly because REXIT had invested in other investment which the management would like to hold for a longer term instead of cash fund. For the financial year ending 30 June 2020, RM 17,932,000 had invested into the other investment and only receive RM 63,216 dividend from the investment. Base on Quarter 3 2021 report, the investment had increase its value to RM 18,775,000, 4.7 % increase. This unrealized gain would be recorded in other comprehensive income hence it would not effect the nett profit of REXIT.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,780,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,020,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,850,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,140,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,500,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-17,730,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-290,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">540,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">550,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,430,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-6,150,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-6,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5,770,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5,730,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-4,350,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,450,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,020,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,230,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1.56 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1.75 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT had negative growth for cash flow from operation and free cash flow. Asides that, REXIT had constantly repurchased back its own share, in 2020 RM 865,728 had been spent for share repurchase and 15,071,500 shares (7.96 %) are held as treasury shares.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">174,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">176,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">178,100,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">178,660,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">179,250,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 30 Jun</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.585</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.685</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.645</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.865</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.52</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.23</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.21</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.19</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.18</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.71</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.62</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20.47</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.59</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.38 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT had low P/E ratio. REXIT price is 2.54 times higher than its BV.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 Jun 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">54,91 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">66.92 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">67.98 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">70.99 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">52.26 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.13 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.38 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.65 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.47 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.85 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.03 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.72 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.21 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.91 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.58 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT had high dividend yield higher than 10 year Malaysia Government Bond. For financial year 2021 REXIT had pay out RM 0.04 dividend.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">No recent research report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">REXIT</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">APPASIA</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">CENSOF</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">EFORCE</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">16.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">213.01</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.03</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4.47</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.50</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.85</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT has a high dividend yield compared to others.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/0cUdaGWPRZYcUdfsCsA--m9NUBUHHiNGcLanKCm61rt-4c8WHqguOjSU5SR-JZIXBwYOOLl6PUfTPN7Fb_GsOmoMr26yNy6DJZXod80juZ7kFjo8QxR8MdF3fyN2hwuNqoNAL9Qi" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">REXIT daily chart shows consolidation at 0.89.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/e-JxlsLrEhfDZBRh3xx4EIY5E1Y9GBCe3OaU9lfpwqSAkNp-Yu1jhad5Smi0nmFklPuTmxF9z7yxRoTBJPxffv1ZXaHtHG7EILf4E-AoFt-zeDZ4mLaVRvDghumLbU8oyLFw4k6c" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly chart show downward trend with support at RM 0.63.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; text-align: left; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; text-align: left; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-91202986767913232022021-06-20T22:38:00.003-07:002021-06-20T22:46:19.176-07:00Stock Review – PMETAL (8869) (PRESS METAL ALUMINIUM HOLDINGS BERHAD) <p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=8869" rel="nofollow" target="_blank">8869</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/PMAH:MK" rel="nofollow" target="_blank">PMAH:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/PMET.KL">PMET.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="http://www.pressmetal.com/">http://www.pressmetal.com/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/8869.KL/" rel="nofollow" target="_blank">8869.kl</a></span></div><div style="text-align: justify;"><span style="font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industries Product & Service</b></div><div style="text-align: justify;"><b>Sub Sector : Metals</b></div></div><div style="text-align: justify;"><b>Focus<span> </span><span> </span><span> </span><span>: Aluminium</span></b></div><div style="text-align: justify;"><b><span><br /></span></b></div><div style="text-align: justify;"><span id="docs-internal-guid-184986b4-7fff-31cb-597c-7416804b4c4d"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Press Metal Aluminium Holdings Berhad (PMETAL) is engaged in the manufacturing and trading of aluminium products. In 2020 PMETAL smelted 760,000 tonnes of aluminium from two smelting plants in Sarawak. Aside from that, PMETAL extruded 210,000 tonnes of aluminium product from two extrusion plants in Klang, Malaysia and Guangzhou, China. Last but not least PMETAL manufactured 120,000 tonnes of aluminium alloy ingots, 240,000 tonnes of aluminium billets and 200,000 tonnes of wire rods. </span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL main raw materials are carbon anode and alumina. In January 2018 PMETAL acquired 20 % of Shandong Sunstone & PMB Carbon Ltd. Co which produce carbon anode. PMETAL also acquired 50 % equity in Japan Alumina Associates (Australia) Pty. Ltd in 2019 and 25 % of PT Bintan Alumina Indonesia in 2020. Both companies able to produce 80 % of alumina required by PMETAL.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">On 30 March 2018 PMETAL acquired Leader Universal Aluminium Sdn Bhd which is aluminium wire rod producer for RM 96,000,000. With the increasing price of copper more electrical cable had changed to aluminium cable made from wire rods.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL had three operating segments:</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1)Smelting and Extrusion</span></p><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing and trading smelting and extrusion products</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">87% of 2020 revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Highest profit margin and return of asset segment</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22 % of segment revenue are from one major customer, Sumitomo Corporation Asia and Oceania Pte. Ltd.</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2) Trading</span></p><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Marketing of aluminium and other related products</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.06 % of 2020 revenue</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3) Refinery</span></p><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Refinery of alumina</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">New segment in 2019 after acquisition of Japan Alumina Associates (Astralia) Pty. Ltd</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.80 % of 2020 revenue</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In thousands</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,476,320</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,804,570</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,170,120</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,176,130</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,649,450</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,358,650</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,569,850</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,812,030</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,776,420</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,590,420</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">654,650</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">631,220</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">870,450</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">808,750</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">674,830</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">586,910</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">581,680</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">772,870</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">746,440</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">605,770</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.37 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.63 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 383px; overflow: hidden; width: 624px;"><img height="383" src="https://lh4.googleusercontent.com/A3Foa9R5zp6acn-B_kJWaoRAGg_dyRlnXoDF1bPPz13zEMImqQcFBnkkEVlqLudwxWdaOHteLzBUzuXkSCUF40-a23DBZG6qsSykAQfy1K69Sug9I5nkOdzfgg8kGaWzwPkhMHDI" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL revenue had increased from 2016 to 2018 however in 2019 there is a drop in revenue mainly due to lower aluminium price saw a decrease of profit margin from 13 % in 2018 to 9.96 % 2019. In 2020 recovery of aluminium price, profit margin had increased back to 12.01 % in 2020. Q1 2021 saw an increase of revenue as the recovery of aluminium price.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="110"></col><col width="98"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In Thousands</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,148,410</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,861,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,302,220</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,821,740</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,381,540</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt to Equity</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.92</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.38</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.53</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.88</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.58</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.36</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.77</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16.05 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.12 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.88 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.61 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.13 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2020 PMETAL had an increase its Debt from RM 3,861,000,000 in 2019 to 5,148,410,000 in 2020 increase by 33.34 %. In August 2020, the company made its second issuance of the Sukuk Programme with nominal value RM 700,000,000. PMETAL has a current ratio higher than 1.0. In 2020 PMETAL cash / current assets had increased from 12.12 % in 2019 to 16.05 % in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="106"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col><col width="104"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In Thousands</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,387,760</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,459,440</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,109,860</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">393,970</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">936,400</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,033,690</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1,187,680</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-451,630</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-168,760</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-451,260</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">879,510</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-101,630</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-691,810</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-318,230</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-410,210</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">237,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">728,130</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">817,150</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">207,250</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">511,650</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.19 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-14.27</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL had positive cash flow from financing in 2020 due to drawdown of multiple loans from banks. Aside from that in 2019 and 2020, PMETAL had made large capital investments by acquired companies. Hence the free cash flow for the year 2020 had reduced significantly.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,076,220,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,076,220,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,901,690,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,665,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,395,780,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Adjusted Price 31 Dec</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.195</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.325</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.415</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.695</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.795</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.49</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.45</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.30</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">57.72</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.69</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.68</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.71</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39.47</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL price had adjusted with the bonus issue in April 2021. PMETAL had a high P/E value and increased over the year. PMETAL 5 years CAGR of price is 39.47 % despite the CAGR of free cash flow is -14.27 %.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Adjusted Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02125</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.025</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0325</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29.24 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">34.71 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.23 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.81 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.42 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.51 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.08 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.35 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.11 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.52 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM had low dividend yield as compared to 10 year Malaysia Government Bond</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">HONG LEONG INVESTMENT BANK</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28 MAY 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 7.10</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KENAGA INVESTMENT BANK BHD</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28 MAY 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 6.50</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 6.80</span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">PMETAL</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ALCOM</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ARANK</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">LBALUM</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PA</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">68.89</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.98</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">0.45 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.28 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.06 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.18 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL had high P/E and low dividend yield compare to other peers.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/zXD8Y2xz4bDq3ln55RULQIuIDb5f9UqIeu0Pv9kAr0eYeXZU1piAOtO6CXTzr2zDB4B3IDk9Ng_L8JsJuyx2pxbKeCwXo55F8gN_3huAJdG2pozgF-nuPcOmKRfDTgw7BGrjtYKD" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PMETAL daily chart show retrenchment from upward trend with support level at RM 4 and resistance level at 5.3.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/hgz7c2PWrKtjkAEoibH68lDZIKfdkA3P4wfydgeGoIFFx2N2zVZ6P3j9Aa-P-G_WRZpLoC3B4q-TjVM00u6cw738uSnxt7uu-3-CEn3qR2HL2xA3HPITAfDE_RKAHvreAX_tMVFH" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly chart show downward trend with support at RM 4.00 and resistance at RM 5.3.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; text-align: left; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; text-align: left; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-55762329036335159532021-06-11T05:28:00.003-07:002021-06-11T05:28:24.878-07:00Stock Review – PCHEM (5183) (PETRONAS CHEMICALS GROUP BHD) <p> </p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5183" rel="nofollow" target="_blank">5183</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/PCHEM:MK">PCHEM:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/PCGB.KL">PCGB.KL</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="https://www.petronas.com/pcg/">https://www.petronas.com/pcg/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/5183.KL/">5183.kl</a></span></div><div style="text-align: justify;"><span style="font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industries Product & Service</b></div><div style="text-align: justify;"><b>Sub Sector : Chemicals</b></div></div><div style="text-align: justify;"><b>Focus<span> </span><span> </span><span> </span><span>: Olefins, Fertilisers and Methanol</span></b></div><div style="text-align: justify;"><b><span><br /></span></b></div><div style="text-align: justify;"><span id="docs-internal-guid-eae29a5f-7fff-3cb6-cc65-05bc60f25618"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Petronas Chemicals Group Bhd (PCHEM) is an integral chemicals producer in Malaysia. PCHEM had a combined production capacity of 12.8 million tonnes per annum from 11 production plantation sites in Malaysia, Netherlands, Canada, Singapore and Germany. In September 2019, PCHEM acquired Da Vinci Group for EUR 163,000,000 which focuses on silicone blending facilities. PCHEM is the largest methanol producer in Asia and 4th largest across the world.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM is operated in two major business segments:</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Olefins and Derivatives</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing and marketing of wide range of olefin and polymer products, which are as basic feedback for other products, to intermediate product including basic and high performance chemicals</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contribute the largest percentage of revenue in 2020 57.95 %, which had decrease from 70 % in 2016</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Unstable profit margin with the range of 24.41 % in 2017 to 3.69 % in 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit highly correlated with crude oil price. Profit increase with crude oil price</span></p></li></ul><ol start="2" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Fertilisers and Methanol</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing and marketing methanol and range of nitrogen, phosphate and compound fertiliser.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contribute 36.98 % revenue in 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">More stable income, profit margin around 25 %</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In million</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,362</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16,370</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19,576</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,407</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,860</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,837</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,914</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,702</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,536</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,857</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,155</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,650</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,236</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,110</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,586</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,795</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,058</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,414</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,222</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.71 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-13.22 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM nett profit had drop significantly from RM 2,795,000,000 in 2019 to RM 1,586,000,000 in 2020, a decrease of 43.26 % compared to revenue which dropped 12.27 %. This is mainly due to the low crude oil price in 2020 which will affect the profit margin of Olefins and Derivative segment from 11.82 % in 2019 to 3.69 % in 2020. Q1 2021 showed an increase in the Olefin and Derivative segment profit due to improvement of the crude oil price. Q1 2021 show the highest profit margin for both operating segments since Q2 2018.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 383px; overflow: hidden; width: 624px;"><img height="383" src="https://lh4.googleusercontent.com/YxYfxX_fuJHPFpRR3KraxoDA11arLfLCyH8L4G1U6jicXv1LxERcHMEt3J1RDnT8h9phKYpaescevnEI059-OQVjj-6ML0TxLeCoeM5kAtbFJOAaYffBfdJR2joKrls3k7ATsNK1" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Aside year 2020 which was caused by the Convid 19 pandemic, PCHEM revenue and profit had dropped in 2019.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In million</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,180</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,580</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,160</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">137</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">206</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt to Equity</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.10</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.09</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.01</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.09</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.90</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.23</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.69</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">77.03 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">76.36 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">73.57 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">61,67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">64.41 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM had a low Debt to Equity ratio which means PCHEM balance sheet is healthy and able to sustain for long term. Aside from that PCHEM current ratio is high and in upward direction since 2017. PCHEM is also cash rich where 77.03 % of its current asset is cash.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="100"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In million</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,015</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,544</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,667</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,311</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,958</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1,444</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-3,027</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1,883</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-3,370</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,824</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-792</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,758</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">876</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,545</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,762</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,539</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,193</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,710</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,865</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">530</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5.30 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.76 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Cash Flow from Operation is -2.28 % mainly due to decrease in nett profit. However the 5 year CAGR of free cash flow is at 23,76 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,000,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,000,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,000,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,000,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,000,000,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 Dec</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.43</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.7</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.98</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.71</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.67</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.81</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.48</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.37</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">37.48</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.69</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.96</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17.33</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.26 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM price 5 years CAGR increase at 1.26 while the 5 year CAGR of free cash flow is at 23.76 %. In 2020 PCHEM P/E had increase to 37.48 due to lower profit. Despite lower profit in 2020 PCHEM book value per share had increase from RM 3.67 in 2019 to RM 3.71 in 2020, 1.02 % increase.</span></p><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.18</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.32</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.27</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.19</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">60.53 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">51.52 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">50.61 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">48.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47.18 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.62 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.45 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.44 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.51 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.72 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Despite having high dividend payout ratio, PCHEM had lower dividend yield compare to 10 year Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AMINVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 10.90</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KENAGA INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 8.90</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">HONG LEONG INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 8.75</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MAYBANK INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 8.25</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 9.20</span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="96"></col><col width="88"></col><col width="88"></col><col width="88"></col><col width="88"></col><col width="88"></col><col width="88"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">PCHEM</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ANCOM</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">HEXTAR</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KARYON</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">LUXCHEM</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">LCTITAN</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">25.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">90.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29.18</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.30</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.56</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.42</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">1.49</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.45</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.7</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.77</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.06</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM had higher P/E compared to LUXCHEM and LCTITAN. Asides that PCHEM dividend yield is lower than HEXTAR, KARYON and LUXCHEM.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/bPw0pOAJV6KoopCXkErNilw_PSZq9dwQTS0ABRlduyoOjcEfg4fdQRl8sKbJ6NnNyOUIfIMw2gYHFiE8pUyaonsrbHmjMq1ACf8odUk_id7kG8M27GmxfzumQP8Z_rLuM2Kj7TVw" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PCHEM daily chart show ascending triangle. If the price able to breakout at price RM 8.35 the price can continue to move up.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/0-9vAMrnPMsmPjxRclt51NZwmfbgKOoejsV8xsDZZf7FYAlKgSa1OEXL-q6UPT6J1YhFwsLVFxWH7OL2WMXOAEdO3ez3i5QoKQHSZAFN5gcuF7lnTDklhEjLTrEZP1Iu0p6lSJE1" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly chart show ascending triangle with the price had break out RM 7.70. Price is might continue upward trend.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; text-align: left; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; text-align: left; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-82018475519582356382021-06-09T17:53:00.001-07:002021-06-09T17:59:23.204-07:00Stock Review – ASTRO (6399) (ASTRO MALAYSIA HOLDINGS BHD) <p style="text-align: justify;"><br /></p><div style="text-align: justify;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=6399" rel="nofollow" target="_blank">6399</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/ASTRO:MK" rel="nofollow" target="_blank">ASTRO:MK</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/ASTR.KL">ASTR</a></span><a href="https://www.reuters.com/companies/ASTR.KL">.KL</a></div><div style="text-align: justify;"><span style="font-family: arial;">Webpage - <a href="https://corporate.astro.com.my/">https://corporate.astro.com.my/</a></span></div><div style="text-align: justify;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/6399.KL/">6399.kl</a></span></div><div style="text-align: justify;"><span style="font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div style="text-align: left;"><div style="text-align: justify;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Telecomunication and Media</b></div><div style="text-align: justify;"><b>Sub Sector : Media</b></div></div><div style="text-align: justify;"><b>Focus<span> </span><span> </span><span> </span><span>: Pay TV</span></b></div><div style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt; text-align: justify;"><span id="docs-internal-guid-0621cedc-7fff-79ae-5b02-fac851afc694"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Astro Malaysia Holdings Bhd (ASTRO) is Malaysia leading content and entertainment company.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Astro operate into three main business segment</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">i) Television</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Television segment is a provider of television services including creation, content, aggregation and distribution, magazine publication and distribution and multimedia interactive services.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This is the largest segment of ASTRO contributing 85.74 % of ASTRO 2021 revenue. This segment revenue is reducing at 5 years CAGR of - 5.74 %.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ii) Radio</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The radio segment is a provider of radio broadcasting service and media sales service. This segment is mainly affect by Movement Control Order (MCO). For financial period ending 31 January 2021 it revenue had decrease from RM 273,794,000 in 2020 to RM 160,558,000 in 2021, a decrease of 41.36 %.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">iii) Home Shopping</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This is a relatively new segment of ASTRO business as compared to the other two segments. It operates home shopping business through various platforms including but not limited to TV, internet/ online shopping and mobile shopping. Its 5 years CAGR is 12.01 % and it is in profit for the first time in 2021.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,359,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,911,800,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,479,050,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,530,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,612,650,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,739,860,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,016,240,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,534,270,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,269,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,461,140,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">692,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">862,680,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">651,150,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,073,150,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">845,510,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">527,830,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">644,620,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">460,820,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">763,980,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">616,990,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-4.93 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-3.07 %</span></p></td></tr></tbody></table></div></span></div><div style="text-align: left;"><span style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="white-space: normal;"><span id="docs-internal-guid-b9b51538-7fff-e48e-f4bd-a596a86a08ca"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">With more producer companies; ie Mediacorp (Singapore), TVB (Hong Kong), etc provide free content to the public through online video sharing platform like youtube, ASTRO revenue from television would reduce. It had reduced by almost 5% per annual for the past 5 years. ASTRO is trying to change to digital platform and home shopping.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO 5 years CAGR of net profit also reduced at -3.07 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Goodwill and Intangible Assets</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,140,120,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,140,120,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,140,120,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,075,130,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,075,130,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,384,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,521,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,570,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,965,180,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,405,650,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.59</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.57</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.41</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.47</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.54</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.06</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.97</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.85</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.75</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">63.57 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">56.50 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47.13 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">38.18 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO had high goodwill and intangible assets mainly due to the right of use of satellite transponders. Besides that ASTRO is in high gearing business with the debt ratio of 0.59 in 2021. From 2017 to 2020 three term loan which are RM 300,000,000 in 2020, RM 300,000,000 in 2018 and USD150,000 in 2017.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO has low current ratio. ASTRO cash / current asset has increase over the year from 38.18 % in 2017 to 63.57 % in 2021.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="100"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col><col width="105"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,682,860,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,646,280,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,894,970,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,016170,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,888,190,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-534,020,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-774,590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-239,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-977,350,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-532,760,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1,178,660,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-817,350,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1.639,150,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1,077,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1,659,760,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,646,320,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,627,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,795,590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,920,920,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,796,480,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2.28 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-1.73 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Cash Flow from Operation is -2.28 % and 5 years CAGR of free cash flow also decreases by -1.73 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,214,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,214,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,214,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,213,880,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,209,520,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 Jan</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.85</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.19</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.67</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.55</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.86</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.012</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.055</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.106</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.081</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.087</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.63</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18.90</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.15</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-21.55 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO price had drop significantly with 5 years CAGR of -21.55 %. Its P/E had go below 10 in 2020. ASTRO had negative BV/Share due to high intangible assets.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO had a performance share award (PSU) which would reward its director and employee for good performance base on 3 years performance period 2021,2022 and 2023 which account for 18,281,900 shares, 0.35 % of the share. The PSU able to align the director and employee to the performance of ASTRO. According to the previous PSU only 35.35 % is rewarded.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Jan 2017</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.08</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.075</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.09</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.125</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.125</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">79.03 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">60.67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">101.84 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">85.31 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">105.54 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.41 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.30 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.39 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.90 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.37 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.75 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.16 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.08 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.93 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.16 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO had high dividend yield which is higher than 10 year Malaysia Government Bond which use as reference as risk free rate. However ASTRO had high dividend payout ratio with two years 2019 and 2017 larger than 100 %. This mean ASTRO is paying its shareholder more dividend than its earning.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AFFIN HWANG CAPITAL</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.00</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AMINVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.83</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KENANGA INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">05 MAY 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.12</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MIDF AMANAH BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">05 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.17</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">HONG LEONG INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">05 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.11</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MAYBANK INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">04 May 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.33</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 1.26</span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col width="102"></col><col width="102"></col><col width="102"></col><col width="102"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">ASTRO</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DTV (FRA)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DISH (NASDAQ)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">STAS (NASDAQ)</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">11.11</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.56</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.24</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.33</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">6.96</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">0.54</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.70</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.41</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.23</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO has low P/E and high dividend yield compared to its international competitor. Aside EchoStar Corporation which had lower debt ratio, other companies had high debt ratio.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /></span></div><div style="white-space: normal;"><span id="docs-internal-guid-492b28bd-7fff-74a4-8984-5a5735af6a23"><br /><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/lam24U-TTNLXMvToErlsKhzOJ4sZPMSyuKXUTH5rtEC5Nv5CH-VMjpNi5p_mzNoKqn_jQq-O9FPaWyFeotsvWWg32wRAh3kZeleLVfRL4Fcy-2Gt28YiyjjBD6B7aRCHZCTjHgB2" style="margin-left: 0px; margin-top: 0px;" width="624" /></span><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO daily chart show an upward trench.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/9ng-W3MsqP8SILPnEBVzruR_LZ6LzB3JF8ccLqKTJl_patc6V1tsm8EafmUq0EEXg9U9Thc9OxD3ztZBXsHReBAaJebDeX047SH175sOnpU2kOluR_vXLjVYQkgeRi1UHWd49Pzx" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASTRO weekly chart also shows reversal with the support level at RM 0.75.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div></span></div><div style="white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="text-align: justify; white-space: normal;"><br /></div><div style="white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-59995585512408444432021-06-03T23:12:00.002-07:002021-06-03T23:18:43.978-07:00Stock Review – KOTRA (0002) (KOTRA INDUSTRIES BERHAD) <p><br /></p><div><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=0002" rel="nofollow" target="_blank">0002</a></span></div><div><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/KTRI:MK" rel="nofollow" target="_blank">KTRI:MK</a></span></div><div><span style="font-family: arial;">Reuters - <a href="https://www.reuters.com/companies/KOIN.KL">KOIN</a></span><a href="https://www.reuters.com/companies/KOIN.KL">.KL</a></div><div><span style="font-family: arial;">Webpage - <a href="https://www.dancomech.com.my/">https://kotrapharma.com/</a></span></div><div><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/0002.kl/">0002.kl</a></span></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Healthcare</b></div><div><b>Sub Sector : Pharmaceutical</b></div><div><b>Focus</b><span style="font-weight: bold;"> </span><span style="font-weight: bold;"> </span><b> : </b><b>Pharmaceutical</b></div></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;">Company Profile</span></div><div><span id="docs-internal-guid-249cc5ce-7fff-cfb5-aab2-c1c461034109"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Kotra Industries Berhad (KOTRA) is engaged in pharmaceutical and healthcare products manufacturing and trading business. KOTRA had a research and development facility in Cheng, Melaka. KOTRA has 51 members working in R&D in 2020 which will be able to launch an average of 4 products over the 5 years; 2016 - 6 products, 2017 - 7 products, 2018 - 3 products, 2019 - 3 products and 2020 - 2 products.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KONTRA have 3 brands of products</span></p><ol style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Appeton</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Nutraceutical product focus on preventive healthcare</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">consist s of 21 different health supplement products for children, expectant mothers and senior</span></p></li></ul><ol start="2" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Axcel</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Specialise in paediatric care, anti infective, dermatological and gastroenterology</span></p></li></ul><ol start="3" style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Vaxcel</span></p></li></ol><ul style="margin-bottom: 0px; margin-top: 0px; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Specialise in sterile antibiotic injection</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KONTRA has completed Metered Dosage Inhaler Line and Pre Filled Syringe Manufacturing Line, a pioneer initiative in Malaysia and had obtain approval from National Pharmaceutical Regulatory Agency in 2019, 2 years delay from the expected completion date on 2017.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">171,730,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">172,550,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">178,480,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">166,370,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">160,230,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cost of Goods Sales</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">42,200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">52,370,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">46,200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47,460,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Operating Expense</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">100,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">104,170,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">110,210,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">107,630,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">104,900,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25,930,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,360,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,870,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22,200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,400,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,760,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.40 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.67 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA 5 years CAGR of Nett Profit increased by 30.67 % although the revenue only had a 1.40 % increase. This is mainly because KOTRA managed to reduce its cost of good sales while keeping its operating expense constant around RM 100,000,000 over the 5 year. KOTRA profit margin had increase from 4.84 % in 2016 to 17.21 % in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA revenue is derived 57 % from the local market and 43 % from the overseas market.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Deferred Tax Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4,797,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,034,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivable past due</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10,863,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,376,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,567,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7,720,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,569,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32,300,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">44,450,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">57,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">73,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">96,930,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.65</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.47</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.34</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.97</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.67</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">42.71 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.48 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21.55 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18.00 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA deferred tax assets had increased from RM 1,034,000 in 2019 to RM 4,797,000 in 2020. 43 % of the KOTRA trade receivable in 2020 had past due. KOTRA debt had reduced significantly over the year from RM 96,930,000 in 2016 to RM 32,300,000 in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA had a current ratio above 1 over the past 5 years and increased over the years. KOTRA cash/current ratio had increased </span><span style="font-size: 11pt; white-space: pre-wrap;">from 28.48 % in 2019 to 42.71 % in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">49,910,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36,970,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">35,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32,980,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25,910,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-25,760,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5,910,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,850,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-9,570,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-27,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-17,390,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-25,820,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-29,500,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-11,670,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47,350,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29,280,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29,930,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16,240,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.01 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.86 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA has had positive cash flow from operation for the past 5 years and 5 years CAGR of cash flow from operation is 14.01 %. KOTRA had positive cash flow from investing in 2020 is due to withdrawal of fixed deposits for RM 14,000,000.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asides that, KOTRA has a 5 years CAGR of free cash flow of 23.86 % which is about the same as the 5 years CAGR of price which is 23.75 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">30 June 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">145,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">143,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">133,600,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">133,270,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">132,460,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 30 June</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.96</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.76</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.82</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.08</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.02</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.99</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.57</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.44</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.35</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17.41</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price </span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.75 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">As of 30 June 2020, there are 5,187,600 number of the Employee Share Option Scheme (ESOS) outstanding until 2023 about 3.57 % of the share outstanding.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.09</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.074</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.00</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">44.29 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47.99 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">42.41 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21.50 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.00 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.04 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.20 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.75 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.96 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.00 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA had high dividend payout of 44.29 % for the year 2020. KOTRA start paying out dividend from 2017. KOTRA had increased its dividends every year since it pay dividend in 2017.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">No Recent research report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis (<a href="https://ivkls.blogspot.com/2020/04/industry-comparison-pharmaceuticals.html" rel="nofollow" target="_blank">Pharmaceuticals</a>)</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col width="102"></col><col width="102"></col><col width="102"></col><col width="102"></col><col width="102"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">KOTRA</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AHEALTH</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DPHARMA</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">PHARMA</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">YSPSAH</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">18.48</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.59</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">35.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47.84</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16.21</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">3.63</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.56</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.08</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.13</span></p></td><td style="border-bottom: solid #000000 1pt; border-color: rgb(0, 0, 0); border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-style: solid; border-top: solid #000000 1pt; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.65</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA P/E is quite low compared to its peers. Only YSPSAH had lower P/E compared to KOTRA. Asides that KOTRA had high dividend yield compared to its peer.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/MNOMn2_NIvcnOEBrp47bbImMDYB1-VrX--dKxLmz2xLrI6FaugciFYPd-YAiLHXbEtuS3Zyt_IYRHV6OWpGMzU-GyDFKAjxgYO2E6Fb5PjdYFra4WI7P1HYdh9Q6tbqRFdek7ehs" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA daily chart show a downward trench testing support of RM 2.52. If price break above RM 2.52 there might be a reversal.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/MCnaYf-faVRQTWCWsNRwLRzkj6l_UUe9hZhWkWikkhztxersqamJXlawmEGTitTUXNo4EwXdQzlCxGG1-okVWQc6S5zsgcRX2rVljEefUvR5KqmQqKCcYK6_NAtjFySnE2S9pWCK" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KOTRA weekly chart also shows a support level at RM 2.27.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-89527518354489074442021-06-02T06:44:00.000-07:002021-06-02T06:44:08.135-07:00Stock Review – DANCO (5276) (DANCOMECH HOLDINGS BERHAD) <p> <span style="font-family: arial;"></span></p><div><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5276" rel="nofollow" target="_blank">5276</a></span></div><div><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/DMEC:MK" rel="nofollow" target="_blank">DMEC:MK</a></span></div><div><span style="font-family: arial;">Reuters - </span><a href="https://www.reuters.com/companies/DNCO.KL" rel="nofollow" target="_blank"><span style="font-family: arial;">D</span>NCO.KL</a></div><div><span style="font-family: arial;">Webpage - <a href="https://www.dancomech.com.my/">https://www.dancomech.com.my/</a></span></div><div><span style="font-family: arial;">Yahoo - </span><a href="https://finance.yahoo.com/quote/5276.KL/" rel="nofollow" target="_blank"><span style="font-family: arial;">5</span>276.kl</a></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><div><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industrial Product and Services</b></div><div><b>Sub Sector : Industrial Materials, Components and Equipment</b></div><div><b>Focus</b><span style="font-weight: bold;"> </span><span style="font-weight: bold;"> </span><b> : Trading Process Control Equipment and Metal Stamping</b></div></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;">Company Profile</span></div><div><span id="docs-internal-guid-3f85ab76-7fff-9df7-b242-c35981c38ca2"><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Dancomech Holdings Berhad (DANCO) is primarily involved in the trading and distribution of Process Control Equipment and Measurement Equipment. DANCO primary focus in palm oil and oleochemicals, oil and gas and petrol chemical and water treatment and sewage industries.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO has four operation segment:</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Division</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">72.02 % of 2020 revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Trading and Distribution of process control equipment (such as valves, switches, actuators, busting discs/ explosion protection devices, expansion joints, float/stream traps, etc.) and industrial pump.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Danomech Engineering Sdn Bhd, wholly owned subsidiary, which focus on supplying the products to customer in palm oil and oleochemicals, oil and gas.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Optimis Engineering Sdn Bhd, 55 % owned subsidiary, which focus on supplying the products to customer in water and wastewater industry</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Mechpump Sdn Bhd, 60 % owned subsidiary, which focus on the trading of industrial pump</span></p></li></ul><ol start="2" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Pump Manufacturing Division</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.81 % of 2020 revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacture of Industrial Pump</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Dancomech Pumps Sdn Bhd, 70 % owned subsidiary</span></p></li></ul><ol start="3" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Metal Stamping Division</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">27.16 % of 2020 revenue</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Production of metal stamping parts and components, and design and manufacture of tools and dies</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MTL Engineering Sdn Bhd, 70 % owned subsidiary acquired on 3 August 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Mainly focus on ACMV industries</span></p></li></ul><ol start="4" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MHS Solutions Division</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Contribute no significant revenue for 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Provision of material handling system solution</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Areah Edar(M) Sdn Bhd, 55 % owned subsidiary acquired on 18 July 2018</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Obtain SGD 12,010,901 project in Jurong Port on 7th September 2020 expected to complete in 26 January 2022</span></p></li></ul><p dir="ltr" style="line-height: 1.2; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">118,770,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">80,870,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">79,090,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">63,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">60,000,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19,930,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">20,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,610,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11,220,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,030,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.63 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.14 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Correlation of Revenue to Crude Palm Oil Price</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.58</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO 5 years CAGR of revenue is much higher than 5 years CAGR Nett Profit. This indicates that the profit margin for DANCO is dimishinshing. In August 2020, DANCO successfully acquired 70 % of MTL Engineering Sdn Bhd (MTL) in the Metal Stamping Division which contributed RM 32,255,879 within the three months which represented 27.16 % of the total revenue of 2020. MTL is mainly focus in HVAC business (97 % of revenue) which might be affected by Full Movement Control Order announce by the government from 1 st June 2021 to 14th June 2021 which might be extended further as the business is considered non essential business.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO nett profit for 2020 does not increase much despite 46 % increase in revenue due to decrease of profit margin on trading segment from 23.48 % in 2019 to 15.40 % in 2020. Besides that, the effective tax rate also increase from 24.69 % to 25.44 %.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">As a larger portion of trading segment revenue and from crude palm oil and oil and gas industry, the increase of price of crude palm oil from RM 3660 / MT in Jan 2020 to RM 3952 / MT in Jun 2020 with price reaching as high as RM 4525 / MT in May 2021 might increase the revenue of the trading segment. Aside crude palm oil, crude oil also increase from USD 51.99 per barrel in Jan 2021 to USD 66.68 in Jun 2021 might increase the revenue of trading segment which contribute 72.02 % of 2020 revenue.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.79</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.54</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.12</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.6</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.14</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">57.41</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47.69</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">54.52</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">56.95</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO current ratio had drop from 9.54 in 2019 to 3.79 in 2020 mainly due to the consolidation of MTL liability into the group financial statement. The current liability of DANCO had increase RM 11,690,000 in 2019 to RM 36,080,000 in 2020 almost by 3 times.</span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO cash/current asset ratio had decrease from 57.41 % to 41.14 % due to cash payment for acquisition of MTL. Despite the decrease in cash, DANCO still had a healthy cash balance. The management manage to control the cash balance around 50 % of cash / current asset since 2016.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO debt had increase from RM 1,720,000 in 2019 to RM 11,110,000 in 2020. DANCO is able to use the current low interest environment to expand its business.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,390,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18,470,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,390,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,210,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-3,400,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-19,300,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-20,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-2,800,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5,380,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-4,380,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5,490,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-4,950,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,810,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13,080,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17,890,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,780,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3,140,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,100,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.27 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.57 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO cash flow from operations had not increase much over the past 5 years. Aside from that DANCO free cash flow only increased by 1.57 % annually from 2016 to 2020. This mainly due to continue acquired of new business Arah Edar (M) Sdn Bhd in 2018, Eureka ETA Sdn Bhd in 2018, MTL Engineering Sdn Bhd in 2020 and UTC Engineering Sdn Bhd in 2021. DANCO also share the profit with the shareholders as dividend.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">309,100,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">304,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">298,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">298,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">298,010,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 December</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.63</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.505</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.45</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.425</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.745</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.45</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.36</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.34</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.22</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.70</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17.04</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price (adjusted)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.08 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO 5 year CAGR of adjusted price is 11.08 %. The price had adjusted for 2:1 stock split on 3rd May 2017.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0175</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.0175</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.015</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.015</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">38.73 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">35.44 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.82 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39.84 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">34.31 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.17 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.47 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.89 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.53 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.03 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO had dividend policy to payout 30 % of profit as dividend from 2016 to 2020 where the management had keep their promise. In March 2021, the management had decided to increase the to 40 % of the profit. </span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO dividend yield almost match with 10 year Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Warrant</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Free warrant (Warrant DANCO-WA) had issued to shareholders on 03 May 2017. The warrant had an exercise price of RM 0.30 and an expiry date of 22-05-2022 (1 year maturity). The exercise price is lower than the current price hence the warrant can be exercised and dilute the share. As of 7 April 2021, last conversion of Warrant A, there are still 136,722,000 share remaining for conversion (44 % of current outstanding share)</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Material Litigation</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO had a law case with SGV Builder Sdn Bhd since 2014. On 5 April 2021, DANCO had make the final settlement of RM 1.108,204.79. Currently DANCO had no other material litigation.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> </span><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Acquisition</span></p><br /><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UTC Engineering Sdn Bhd</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15 April 2021</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 2,750,000 for 55 % equity</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit guarantee up to 31 December 2021</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Electrical, Electronic, and Instrumentation Engineering Business for machinery use in industry</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Vertical Integration</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Loss Making company (RM 265,751) in 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Nett asset RM 1,128,751</span></p></li></ul><ol start="2" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MTL Engineering Sdn Bhd</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3 August 2020</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 23,800,000 + 4 dividend for 70 % equity</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Producing metal stamping parts and component and design and manufacturing of tools and dies - HVAC, automotive and metal furniture</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Depend on one customer 97 % of revenue (HVAC)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Absence of long term contract</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Labour intensive depend on foreign worker</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Profit for 2019 - RM 4,972,211</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Nett assets is RM 35,462,168</span></p></li></ul><ol start="3" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Eureka ETA Sdn Bhd</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8 August 2018</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 600 for 60 % equity</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Fertilizer and agro chemical product (plantation highly depend on CPO price)</span></p></li></ul><ol start="4" style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: decimal; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Arah Edar (M) Sdn Bhd</span></p></li></ol><ul style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">18 July 2018</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">55% equity</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Providing material handling system solution (depend on contract)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; margin-left: 36pt; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Obtained Jurong Port Singapore project (SGD 12,010,901) in 7 September 2020. Project completed by 26 January 2022.</span></p></li></ul><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">No Recent research report</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col width="82"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">DANCO</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UNIMECH</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">CBIP</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Turbo</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10.59</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">11.58</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.73</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">3.64</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.24</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.01</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.52</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO had the lowest P/E and highest dividend yield amongst its peers</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh5.googleusercontent.com/97Ei4kfCflkQD7FR1xXophj5FmkiPbbtLfgKN6dxaqlX8GhL6j-aHSsYzJclPmCmT8-OjeJVlLxA0S6WEKIN4ChxFQIMH_ldyx2RBhnrNFRx1UH_Sd12zCSy0xDh5oKrNz9GkTFr" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO Daily chart show a downward trench testing support of RM 0.53.</span></p><br /><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh5.googleusercontent.com/lkY4ysEnY59Zl5cLQF0AbqbX0p7L_VomuezFvcmKwMmVY2mlmn3xlZafIDC73mQoVftmUMnuwqHGpCoRGdH-Pn-Gpb29alGFUowuEqm6-IaieS7iy0WMIm_3EXCHuIdazmF-daZ5" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DANCO weekly chart also shows a support of RM 0.53 and a resistance of RM 0.67.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com1tag:blogger.com,1999:blog-568865846992321356.post-87877864237552682772021-03-23T06:01:00.001-07:002021-03-23T06:02:36.222-07:00Stock Review – UCHITEC (7100) (UCHI TECHNOLOGIES BERHAD) - 2<div style="text-align: left;"><span style="font-family: arial;">Bursa Malaysia -</span><span style="font-family: arial;"> <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7100" rel="nofollow" target="_blank">7100</a></span></div><div><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/UCHI:MK" rel="nofollow" target="_blank">UCHI:MK</a></span></div><div><span style="font-family: arial;">Webpage - <a href="http://www.uchi.net/">http://www.uchi.net/</a></span></div><div><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/7100.KL/" rel="nofollow" target="_blank">7100.kl</a></span></div><div><br /></div><div><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: Industrial Product and Services</b></div><div><b>Sub Sector : Industrial Materials, Components and Equipment</b></div><div><b>Focus</b><span style="font-weight: bold;"> </span><span style="font-weight: bold;"> </span><b> : Original Design Manufacturing (Electronic Control System)</b></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;">Company Profile</span></div><div><span id="docs-internal-guid-49845ca2-7fff-76b0-61ae-dd2f78a7b8bc"><p dir="ltr" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHI Technology Berhad (UCHITEC) is principally involved in Original Design Manufacturing (ODM), specializing in the design of electronic control system. Uchi designs and develops electronic control modules in-house and eventually manufactures and assembles components into semi finished parts and control modules which its customers will insert into their final products. UCHITECH module are used in fully automated coffee machines, precision weighing scales, centrifuges and deep freezers).</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITECH has two operating site</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: lower-alpha; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UOM situated in Malaysia is the main operating plant (>85 % Utilisation as of 2019 annual report)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: lower-alpha; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Uchi Donggguan in Dongguan City, Guang Dong Province China, is the assembly arm of UOM. (<75 % Utilisation as of 2019annual report)</span></p></li></ol><p dir="ltr" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITECH consists of three operating segment which are:</span></p><ol style="margin-bottom: 0; margin-top: 0; padding-inline-start: 48px;"><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: lower-alpha; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Investment holding (includes management services)</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: lower-alpha; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Manufacturing of real time centralised energy measurement and control system, high precision hot fluid temperature control system and ultra low temperature and mass sensing control system for bio-chem equipment, touch screen advance display, high precision light measurement (optoelectronic) equipments, mixed signal control system for centrifuge / laboratory equipments, mixed signal microprocessor based application, system integration products and electronic modules.</span></p></li><li aria-level="1" dir="ltr" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: lower-alpha; vertical-align: baseline; white-space: pre;"><p dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Trading of complete electrical module and saturated paper for PCB lamination.</span></p></li></ol><p dir="ltr" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Of the three operating segments, only the manufacturing segment (70 % of 2019 total revenue)is for the external sales while the two other segments are for inter segment sales.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 12pt; margin-top: 12pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">155,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">156,670,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">139,970,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">136,590,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">120,900,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Earning Before Tax</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">84,650,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">79,040,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">72,540,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">72,150,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">57,090,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">83,830,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">75,950,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">69,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">70,500,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">55,510,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 Years CAGR of Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.13 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Nett Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.19%</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC 5 years CAGR of Nett Profit (8.19 %) is higher than its 5 years CAGR of revenue of 5.13 % mean UNCHITEC might have reduced its operating expense and interest expense over the 5 years. Despite pandemic in 2019 which bad affected the operation of UCHITEC in Malaysia and China on the first half of year 2020, UCHITEC managed to match the 2019 revenue in 2020 and recorded the highest nett profit in 5 years for year 2020. Besides pandemic, the weakening of US dollar would also affect UCHITEC revenue and net profit for the year 2020.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">With the recovery of economy in the world for this year, UCHITEC might perform </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.56</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.30</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.59</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.50</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Current Asset</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">79.28 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">80.00 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">74.10 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">89.20 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">88.37 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC had maintained a high current ratio for the past 5 years. About 80 % of UCHITEC current assets are in cash and short investments. There is a significant drop in cash / current asset ratio from 89.20 % to 74.10 % in 2018 was due to higher interim dividend declared by the management on Dec 2017 which was paid on January 2018.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Asides that, UCHITEC does not have any debt and good will.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">85,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">84,050,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">63,370,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">68,340,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">55,840,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,290,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6,760,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5,720,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,730,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-68,110,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-62,080,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-198,810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-31,260,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-32,220,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">85,020,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">83,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">54,140,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">67,230,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">52,920,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.94 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.95 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC had healthy operating cash flow with a 5 years CAGR of 8.94 %. Besides that, UCHITEC had 5 years CAGR of free cash flow of 9.95 % mainly due to low capital expenditure. Low investment activities over the 5 years also show in the positive cash flow from investing activities. Since UCHITEC had low or no debt, its cash flow from financing is mainly due to paying dividends to shareholders.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">451,430,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">449,110,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">448,680,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">447,100,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">436,620,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price 31 December</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.6</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.54</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.099</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.619</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">BV/Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.40</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.36</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.34</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.53</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.58</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16.44</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16.51</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">19.65</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.73</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR of Price</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.94 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC book value per share had dropped significantly due to dividend payout. UCHITEC book value per share had growth from 2018 to 2020.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC price had growth at 5 years CAGR of 9.94 % which is faster than its cash flow from operation (8.94 %) and same rate with UCHITEC 5 years CAGR of free cash rate (9.95 %). P/E for 2020 is lower than the 5 years average of 15.86.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Per Share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.16</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.145</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.25</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.11</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">86.61 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">85.74 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">97.52 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">158.55 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">86.52 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.22 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.91 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.07 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.79 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 year Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Aside in 2017 where dividend payout is at 158.55 %, UCHITEC had a dividend payout between 85 % to 97 % for the past 5 years. Besides thatUCHITEC has a dividend yield higher than 10 years Malaysia Government Bond.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AFFIN HWANG CAPITAL</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 3.88</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 3.88</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Only one research house has analysts UCHITEC with the target price of RM 3.88</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col width="82"></col><col width="100"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">UCHITEC</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">EG</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UNISEM</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">VS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">FPGROUP</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">17.76</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-36.71</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">41.23</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">38.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">34.93</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4.88 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.82 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.95 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.63 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC had P/E lower than its peer and dividend yield much higher than its peer which only gave less than 1 % dividend yield.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/L5enEAirdEVswv5Wk8IuEMOPkQM4TrQijSGwdZwOU0y2RwUUt7wD1oV3FJg8OKTy8-fgqJfGrIYGXBZLw1cAyE7zmxb4gI9S25F2QGAvePAGm3614R5fh8v9NYn8x_umV0kZqIS_" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC daily chart is testing resistance RM 3.30.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh4.googleusercontent.com/o47IztIs7ZABCxB_ZU2o9wqinXKdO3LEyfyUU2bmDEpi6rRpC17ujNH8PaJvE0f7D8UZuFNxu0uMOhTj285QwW7ZsjuZ_IGGktORzC3td7adsk9ACjub2wTnAxTIVLKAOj67xagY" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UCHITEC weekly chart also shows a resistance at RM 3.3.</span></p><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div><div><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><div style="font-size: medium; white-space: normal;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="font-size: medium; white-space: normal;"><br /></div><div style="font-size: medium; white-space: normal;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></span></div></span></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-3140266552864868702021-03-05T05:54:00.002-08:002021-03-05T05:54:14.100-08:00Stock Review – SCIENTX (4731) (SCIENTEX BERHAD)<div style="text-align: left;"><span style="font-family: arial;">Bursa Malaysia -</span><span style="font-family: arial;"> <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=4731" rel="nofollow" target="_blank">4731</a></span><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=1818" style="font-family: arial;" target="_blank"><br /></a><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/SCI:MK" rel="nofollow" target="_blank">SCI</a></span><span style="font-family: arial;"><a href="https://www.bloomberg.com/quote/SCI:MK" rel="nofollow" target="_blank">:MK</a></span></div><div style="text-align: left;"><span style="font-family: arial;">Webpage - <a href="https://www.scientex.com.my/">https://www.scientex.com.my/</a></span></div><div style="text-align: left;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/4731.KL/" rel="nofollow" target="_blank">4731.kl</a></span></div><div><br /></div><div><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: </b>Industrial Products and Services</div><div><b>Sub Sector : </b>Packaging Material</div><div><b>Focus</b><span style="font-weight: bold;"> </span><span style="font-weight: bold;"> </span><b> : </b>Packaging and Property</div><div><br /></div><div><span id="docs-internal-guid-8e974035-7fff-79c9-1404-1e4393f04592"><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Company Profile</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Scientex Berhad (SCIENTX) is a producer of industrial stretch film and a property development.. SCIENTX had two segment as follow:</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">i) Packaging Segment</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Mainly focus in manufacturing of various packaging products, Include in this segment also the sales and marketing of laminating polyurethane adhesives.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ii) Property Development</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In the business of constructing and developing residential, commercial and industrial properties and property management.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 385px; overflow: hidden; width: 624px;"><img height="385" src="https://lh3.googleusercontent.com/cSf7N_epSbBzaF3qdL6G8UcG7fzxkpu-VC2j5BQV5eEEaAW7m0hzp88SS8AS71u2nGQhfjOxXPKRYROs2wEpqIzFFJdzbBKsfdaDDS1vByC7I42BmC0hMoa7c9bWp18qirzcYWJp" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">From the bar chart above around 70 % of SCIENTX revenue are derive from the packaging segment and had increased over the year. SCIENTX revenue from packaging segment stands 72.50 % as of 2020 compared to 70.40 % in 2016.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 385px; overflow: hidden; width: 624px;"><img height="385" src="https://lh4.googleusercontent.com/2fbi43zAujwEk4pvustFRxxI4mh7AouarOfZnzn2SbLlxrabdVqTyjHzTdEfnhVJipas3cSI-vHp1CHuthuec_FVKoE_-7J6F0c5Ait2iQF5I7IeF6FXgbO3rK04eqsKj_qfKIsK" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Although the property development segment only takes 30 % of the revenue, the property development segment contributes more profit to SCIENTX over the years compared to the packaging segment mainly due to property development giving a better profit margin. In 2020 there is a drop in property development contribution mainly due to the Movement Control Order (MCO) declared by Malaysia Prime Minister from 18 March 2020 to May 2020 where construction industry consider as non essential and unable to operate.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">As both the operating segments are in different business segment and uncorrelated. Each segment would be analyzed individually.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Packaging Segment</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Segment Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,551,141,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,357,803,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,904,616,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,669,623,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,549,458,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Segment Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">251,015,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">175,233,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">126,876,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">109,307,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">128,960,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Segment Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.84 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.43 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.66 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.55 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.32 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Crude Oil Price 31 July (USD)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">43.15</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">57.97</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">63.63</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">49.73</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">42.14</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Correlation Between Crude Oil Price and Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.70</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Revenue (Packaging)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.49 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Profit (Packaging)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">14.25 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The profit margin of the packing segment is negatively correlated (-0.70) with the crude oil price. Crude Oil price had increased to 60 USD per barrel which might decrease the profit margin of this segment.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2019 there is a spike in revenue 23.79 % compared to the average of 10 % growth year to year due to higher utilisation rate in the manufacturing plant. In 2019, there are two acquisitions in 2019, Mega Printing & Packaging in August 2019 and Daibochi Berhad in April 2019 which would further expand its packaging segment.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2020 despite the pandemic, SCIENTX packaging segment recorded an 43 % increase in profit mainly due to low crude oil price and higher revenue income. Revenue for 2020 had increased by 8.2 % from 2019.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Based on quarterly reports from 2018 to 2020, the packing segment is a non cyclical segment as the revenue is quite consistent at each quarter.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX consists of 19 factories and 6 sales offices worldwide. Besides that SCIENTEX packaging products have been exported to more than 60 countries in the world.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><div class="separator" style="clear: both; text-align: center;"><span style="border: none; display: inline-block; height: 277px; margin-left: 1em; margin-right: 1em; overflow: hidden; width: 402px;"><img height="277" src="https://lh6.googleusercontent.com/a-C6weCTa7NAV35yVzvRV5F2IewN1HPB_7QOIeQQOMq5E_6ZQJSN6xgUN3FR3Tl81qkHgb1pSy2cGEFPiHIxmtoSfq1yZUDcw6zcNM1UVUWeHcd_J95mFy_JF2juSwkIQaiRyX9-" style="margin-left: 0px; margin-top: 0px;" width="402" /></span></div><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><b><u><br /></u></b></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><b><u>Property Development</u></b></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><b><u><br /></u></b></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Segment Revenue</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">967,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">889,639,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">722,151,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">733,528,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">651,522,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Segment Profit</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">298,440,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">286,544,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">237,488,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">227,081,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187,827,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Segment Profit Margin</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.85 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32.21 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">32.89 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.96 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.83 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Malaysia Property Price index Growth</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-0.85 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.74 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.50 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.82 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Revenue (Property Development)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.23 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Profit (Property Development)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.70 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Malaysia Property Price Index growth had slowed down since 2017. In 2020 the price index shows a negative growth mainly due to the convid 19 and MCO. With the negative property price index growth rate and convid 19, SCIENTX profit from the property segment might be reduced.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Property development segment had growth slower 9.70 % 5 year CAGR of profit compared to the packaging segment which is 14.25 % CAGR. </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Property development segment for SCIENTX show a cyclical segment according to the quarterly report from 2018 to 2020. SCIENTX property segment revenue is highest over the year for the Quarter close at 31July which is the Q4 of the SCIENTX financial year. The property development segment shows a consistent profit margin each quarter.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Overall Income Statement</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Interest Coverage Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">31.58</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.85</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">36.55</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26.18</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26.60</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Revenue (Total)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9.84%</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Nett Income (Total)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.12 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX has a healthy interest coverage ratio, SCIENTX is able to use their earnings before interest and tax to cover the interest expense.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX Nett Profit growth is faster than the revenue growth is an indication SCIENTX able to be more efficient in operation throughout the years. </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.34</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.27</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.06</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.07</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash & Short Term Investment</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">413,240,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">257,640,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">172,320,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">191,900,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">100,600,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Goodwills</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">338,080,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">293,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">59,030,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,130,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12,130,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Account Receivables</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">559,790,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">595,780,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">482,690,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">385,100,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">315,890,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Total Debt</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,050,480,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">973,810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">934,310,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">467,690,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">471,610,000</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX current ratio is more than one for the past 5 year.Asides that SCIENTX cash & Short Term Investment had increased by 60.39 % in 2020. 74.63 % of ash and short term investment for 2020 is in Ringgit Malaysia while 23.94 % in USD and 1.43 % in Japanese Yen.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX's goodwill had increased by almost 5 times in 2019 due to the acquisitions of Mega Printing & Packaging in August 2019 and Daibochi Berhad in 2019.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.71 % of the account receivable in 2020 had past to compared to 13.04 % in 2019.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">There is a 2 times increase in total debt in 2018 due to issuance of RM 200,000,000 SUKUK for acquisition of lands and increase in foreign currency revolving credits. In 2018, 53.68% of the total debt is denominated in Ringgit Malaysia and 46.32 % is denominated in USD while in 2020, 46.67 % of the total debt is denominated in Ringgit Malaysia, 39.83 % is US Dollar, 11.95 % in Japanese Yen and 1.55 % in Australia Dollar.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">715,340,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">556,970,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">392,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">322,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">380,300,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">CAPEX</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-134,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-87,550,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-67,860,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-127,810,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-287,060,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">580,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">469,460,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">324,560,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">195,030,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">93,240,000</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.47 %</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 year CAGR of Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">44.18 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX had positive cash flow from operation for the past 5 years with a CAGR of 13.47 %. Aside that , SCIENTX free cash flow has a 5 years CAGR of 44.18 %.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend and Warrants</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Adjusted Dividend </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.08</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.05</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.05</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.40 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">30.00 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33.56 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">29.18 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">28.33 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.53 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.38 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.53 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.85 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.36 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">10 years Malaysia Government Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.10 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.04 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.92 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.60 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Dividends are adjust 2 :1 bonus issue in 2020 and 1:1 bonus issue in 2016. Besides that there is a 1 free warrant issue (SCIENTX-WC) for every 5 existing shares in 2020 with the exercise price of RM 4.3 expiring in 2024.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SCIENTX had paid dividend for the past 10 years. For the past 5 years SCIENTX dividend yield is lower than 10 years Malaysia Government Bond yield. As SCIENTX is considered a growth company, it retains about 70 % of its earnings for future growth.</span></p><br /><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 July 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Share Outstanding</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,546,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,501,730,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,459,020,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,400,010,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,364,960,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price (31 July)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.033</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.807</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.633</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.887</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.12</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price / Earning</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.02</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.63</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">13.26</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.80</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.01</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Book Value per share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.44</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.17</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.09</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.85</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price / BV</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.11</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.18</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.25</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.65</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.49</span></p></td></tr><tr style="height: 20pt;"><td colspan="5" style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR Price</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.43 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In 2020, SCIENTX had P/E of 12.02 which is lower than its 5 year average of 13.14. SCIENTX price is around 2 times its book value. </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5 years CAGR for SCIENTX price is 7.43 % which is lower than its net income CAGR of 10.12 % and 5 years CAGR of cash flow from operation of 13.47 %.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Packaging</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TGUAN</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">DAIBOCI</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SLP</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">10.80</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">15.84</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">16.90</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.42 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.09 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.32 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price / BV</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.24</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.95</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.51</span></p></td></tr></tbody></table></div><br /><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Property Development</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">LBS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SPSETIA</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">UEMS</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SIMEPROP</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">12.71</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-11.5</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-119.95</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-8.31</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.1</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.13</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price / BV</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.46</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.31</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.27</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.44</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Price / BV for SCIENTX is high compared to the peers. As packaging companies had P/BV average of 1.9 and property development companies had P/BV below 1. SCIETX is estimated to have P/BV below 2.0 since it operates in the packaging and property development.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="-webkit-text-decoration-skip: none; background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration-skip-ink: none; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">Research Report</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><b id="docs-internal-guid-23474302-7fff-e165-b3bd-0559091901e5" style="font-weight: normal;"><br /></b></span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">KENAGA INVESTMENT BHD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">18 December 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">3.78</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">AFFIN HWANG CAPITAL</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">18 December 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">4.44</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">AMINVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">18 December 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">4.23</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">RM 4.15</span></p></td></tr></tbody></table></div><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br /></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">Average analyst target price is RM 4.15. </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Daily Chart</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/Fd3TFw6TW_5N-j58iyM7adF1K54V-LkENjcpT9JOMzut8c06q8Xqz7egaLAaQsOEiWSD1poaYXF9JeUfame277I5a3VeP1EDkvvmMwYdEH-b_UaZz6ZoUvt70NStyPh27aRneF3Z" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Daily chart show that SCIENTX price is testing the support level of RM 3.98. 200 days moving average show an uptrend.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly Chart</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh6.googleusercontent.com/JmEwFjjG9pep9qS_Xy1gLG8B3cf2IhGIxt0X10v5wL4lMrNTpBtcE0vYn5pv_3t302YAE_ABoSy3QHWl44e9Jwf78R-D6ZJuKsJZtHPqZAriDyrTAqPetB9y3J4vs9ErmyfS3bus" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly chart show that SCIENTX is testing the resistance level of RM 4.2. SCIENTX price trade at the upper band of the bollinger band which show and upward trend.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Monthly Chart</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 440px; overflow: hidden; width: 624px;"><img height="440" src="https://lh3.googleusercontent.com/BxaFv4aQpqiP3ll3_1wR5MG01kA1mNMFIY3Au4aLvDTN13wvCmcfWsgFd0FIYxJoh8_Cz8ynHo5OKxlMFKzefT5Zakja4Oj6We32M3UDU61s5MuJYEP0QeJhXngYygriWXIbDGPV" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Monthly trend of SCIENTX shows at upward trend.</span></p><br /></span></div><div><div><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div><br /></div><div><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-83585858323565591772021-03-01T06:36:00.000-08:002021-03-01T06:36:40.414-08:00Stock Review – BURSA (1818) (BURSA MALAYSIA BERHAD)<div><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=1818" target="_blank">1818</a></span><span style="font-family: arial;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=0012" target="_blank"><br /></a></span><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/BURSA:MK" rel="nofollow" target="_blank">BURSA</a></span><span style="font-family: arial;"><a href="https://www.bloomberg.com/quote/BURSA:MK" rel="nofollow" target="_blank">:MK</a></span><br /><span style="font-family: arial;">Webpage - <a href="https://www.bursamalaysia.com/">https://www.bursamalaysia.com/</a></span></div><div><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/1818.KL/" target="_blank">1818.kl</a></span></div><div><br /></div><div><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: </b>Financial Services</div><div><b>Sub Sector : </b>Others Financials</div><div><b>Focus</b><span style="font-weight: bold;"> </span><span style="font-weight: bold;"> </span><b> : </b>Exchange</div><p><span style="font-family: Arial; font-size: 11pt; font-weight: 700; text-decoration-line: underline; white-space: pre-wrap;">Company Profile</span></p><span id="docs-internal-guid-fc0ebd3f-7fff-3d8c-479e-bf37d8db68b8"><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Bursa Malaysia Berhad (BURSA) is an exchange holding company. Bursa Malaysia is home of the largest Public listed companies in ASEAN. BURSA operated in four segments as follows</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">i) Securities Market</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This segment mainly comprises the provision and operation of listing, trading, clearing, depository service and provision and dissemination of information relating to equities security quoted on the security exchange.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ii) Derivative Market</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This segment market mainly comprised the provision and operation of trading, clearing, depository services and provision and dissemination of information relating to derivative products quoted on derivation exchange.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Crude Palm Oil Futures price which trade in Bursa Derivative exchange is used as the benchmark for globally crude palm oil price. </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">iii) Exchange Holding Business</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This segment function as investment holding company</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">iv) Other</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">This segment comprise of Shariah compliant commodity trading platform, a reporting platform for bond traders and the provision of exchange for the offshore market</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Income Statement</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 385px; overflow: hidden; width: 624px;"><img height="385" src="https://lh3.googleusercontent.com/GVgujUeuvzL2LoTrGWZ1gxnW9UVCicxjumHZ9jp-vKykRaW6jRqLc9Xl0j2KSQCDYeAXNWMPFXgIz-ISVwyc1aqroV6lNEOaKZhyhKVWdJyK5tQq3fUHSwpCSULQVowa0hRU8EB-" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col width="106"></col><col width="102"></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Operating cost</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">272,170,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">224,770,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">215110,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">216,200,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">202,120,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Effective Tax Rate</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.44 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.89 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.17 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.74 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.10 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">OMT and DBT Average Daily Volume</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">9,130,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,677,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,647,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,639,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,763,000,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Correlation between Revenue and Average Daily Volume </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.99</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA revenue mainly depends on the average daily volume from 2016 to 2020 correlation between revenue and the average daily volume is 0.99. From Q1 2017 to Q4 2020 correlation between the two is 0.98.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA has fixed operating cost, aside Q4 2020 which had operating cost of RM 85,650,000 BURSA had an average operating cost of RM 56,147,800 from Q1 2017 to Q3 2020. BURSA had an average effective tax rate of 25.27 % from 2016 to 2020. Q4 2020 impose higher operating costs due to higher professional fee and one off SST provision.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 551px; overflow: hidden; width: 624px;"><img height="551" src="https://lh3.googleusercontent.com/4aL9B5uvXssIxPMM8CRZIhOdz8MMJRXmFe-5ND3UOUjQaDhJO64wDR5NRHp8lMDs_uk2MtDw4vR2_52bXKjJo0BgR7WopARefGWY_Rd8tHcQ9Sv9V7aoTUQVAx_aadoUzAAdNgWm" style="margin-left: 0px; margin-top: 0px;" title="Chart" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Most BURSA revenue from securities market segment, 84 % in 2020. BURSA revenue from the securities market increased from 73 % in 2016 to 84 % in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Balance Sheet</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash and Short Term Investment</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,658,830,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,786,910,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,763,520,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,594,400,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,847,840,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Trade Payable</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2,068,710,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,395,880,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,375,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,166,020,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1,378,600,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Intangibles</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">33,330,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">39,940,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">40,350,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">40,840,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">47,110,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Current Ratio</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.21</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.20</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.25</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.26</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash / Trade Payable</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.29</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.28</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.37</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.34</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA trade payables comprise derivative trading margins, equity margin and security deposits from Clearing Participants of Bursa Malaysia. An increase in trade payable show an open interest in bursa derivatives and equity. BURSA Cash / Trade Payable ratio is more than one which means BURSA is capable of paying all trade payable if the open interest had decreased.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA had a current ratio of more than one from 2016 to 2020. BURSA current assets is lower than current liabilities. BURSA intangibles had decreased from RM 47,110,000 in 2016 to RM 33,330,000 in 2020.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Cash Flow</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Operation</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">417,240,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">186,630,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">214,290,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">246,110,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">201,930,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Investing</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-90,510,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8,700,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-12,800,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">80,660,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-57,900,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash Flow from Financial</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-225,620,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-177,750,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-281,730,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-292,330,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-194,190,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Capital Expenditure</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-16,220,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-20,450,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-12,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-9,120,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-10,880,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Free Cash Flow</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">401,000,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">166,180,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">201,330,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">236,990,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">191,050,000</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA had significant cash flow from operation and free cash flow from 2016 to 2020. BURSA had high cash flow from financial activities compared to cash flow from operating activities from year 2016 to 2019. Most of cash flow from financial activities are for payment of dividends to the shareholders. Since BURSA does not required much expansion most of the cash from operating activities would distributed back to the shareholders.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Dividend</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA had pay dividends for more than 10 years without failure. Over the years, BURSA had announce dividends at least twice a year.</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.51</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.208</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.336</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.535</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.34</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Payout</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">109.20%</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">88.66%</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">117.56 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">187.17 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">134.77 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.20 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.45 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.96 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.08 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.96 %</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Malaysia 10 years Bond</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.68 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.33 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.01 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.94 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">4.24 %</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Aside from 2019, BURSA has a dividend payout ratio of more than 100 %. Unlike most companies which require retained earnings for future investment, BURSA is an exchange holding company that does not need much CAPEX investment.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">BURSA dividend yield is higher than Malaysia 10 years Bond for the past 5 years.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Per Share Analysis</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2020</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2019</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2018</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2017</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">31 Dec 2016</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Outstanding Share </span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">808,500,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">807,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">806,830,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">805,380,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">803,320,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Outstanding Share (Dilute)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">808,800,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">809,420,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">809,360,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">807,960,000</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">807,808,000</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Price (closing 31 December)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8.228</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.037</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.781</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.62</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.707</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Book Value per share</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.07</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.89</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.03</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.00</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.02</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">EPS (Dilute)</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.467</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0,234</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.285</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.285</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.251</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">17.62</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">25.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.80</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">23.23</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">22.73</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/BV</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">7.67</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.78</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.57</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">6.61</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">5.60</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">For year 2020, BURSA had low P/E as compared to the past 4 year average of 23.88. On average BURSA price is about 6.65 times its book value. In 2020 BURSA P/BV is higher than the average.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Research Report</span></p><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Investment House</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Date</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Target Price</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MAYBANK INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">02 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 10.00</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">HONG LEONG INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">03 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 11.46</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">MIDF AMANAH INVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">03 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 8.90</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">KENANGA INVESTMENT BANK</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">03 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 9.65</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AFFIN HWANG CAPITAL</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">03 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 10.90</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">AMINVESTMENT BANK BERHAD</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">03 February 2021</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">RM 10.30</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Average Price Target</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">RM 10.20</span></p></td></tr></tbody></table></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Average analyst target price is RM 10.20. </span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 341px; overflow: hidden; width: 624px;"><img height="341" src="https://lh3.googleusercontent.com/pU7ZTB8NuYwpH3qCdrZkA0VAuI0DfJcitK3hAlgq04ZkikfHVjngDcOnOLTpIO9eoltnqYi8eMU-Dp0DKhQU_Pz4I1Agn0Pn99KJgIzLaQPCq4FszDOAVvICXu8dhKOn348rJSgf" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Since September 2020, BURSA Daily Chart shows the price is trading around RM 8 and RM 9. Besides that BURSA had traded above 200 moving average since May 2020.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 311px; overflow: hidden; width: 624px;"><img height="311" src="https://lh5.googleusercontent.com/qYl_blRy28qgqcdEnkBnJ8IZ43p8Bmrh37mFE0kq5NkcuiH77wgKczgP-P2SmUbQUNNiSENRZhIEFWzV8seeD6ec-rDqkgeDV1NyQR9lW89JijPzDW7peEFIciD3Q0e6q3ocow6G" style="margin-left: 0px; margin-top: 0px;" width="624" /></span></span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Weekly chart shows symmetrical triangle converge into RM 9.00. From both the daily chart and weekly chart RM 9.00 is providing a strong resistance level for BURSA.</span></p><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Peer Analysis</span></p><br /><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 468pt;"><colgroup><col></col><col></col><col></col><col></col><col></col><col width="73"></col><col width="103"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Bursa</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">HKEx</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">SGX</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">ASX</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">TMX</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">EURONEXT</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">P/E</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">19.42</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">53.87</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">21.58</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">26.23</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">24.74</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">`19.70</span></p></td></tr><tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Dividend Yield</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">4.74 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.67 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.15 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">3.43 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">2.3 %</span></p></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">1.51 %</span></p></td></tr></tbody></table><br /></div><div align="left" dir="ltr" style="margin-left: 0pt;"><div><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div><br /></div><div><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div><div><br /></div></div><br /></span>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-60584790492591453942021-01-02T07:40:00.000-08:002021-01-02T07:40:18.271-08:00IVKLS Quarterly Report 2019 –Q4<div style="text-align: left;"><a href="https://ivkls.blogspot.com/2020/10/stock-review-alaqar-5116-al-aqar.html" rel="nofollow" target="_blank"> <b><span style="font-family: "Times New Roman", serif; line-height: 115%;">1)
ALAQAR (5116) - AQAR:MK</span></b></a><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-table-layout-alt: fixed; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 83.4pt;" width="111">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Date<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 63.75pt;" width="85">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">IVKLS<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 2.0cm;" width="76">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Ref Price<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" width="113">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">31 December
2020 (RM)<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" width="132">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Accumulate
Dividend (RM)<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" width="99">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Gain / Loss
(%)<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="background: red; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 83.4pt;" width="111">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">01 Nov 20<o:p></o:p></span></p>
</td>
<td style="background: red; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 63.75pt;" width="85">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">1.06<o:p></o:p></span></p>
</td>
<td style="background: red; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 2.0cm;" width="76">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">1.31<o:p></o:p></span></p>
</td>
<td style="background: red; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" width="113">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">1.31<o:p></o:p></span></p>
</td>
<td style="background: red; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" width="132">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">0.013<o:p></o:p></span></p>
</td>
<td style="background: red; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" width="99">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">+ 0.99<o:p></o:p></span></p>
</td>
</tr>
</tbody></table><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> </o:p></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Announcement from 1 November 2020 to 31 December
2020</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Date<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Event<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Remark<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">05
Nov 2020<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Approval
of Private Placement of 43,859,649 new shares<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Dilute
the original share price<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">16
and 18 Nov 2020<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">EPF
acquired 116,400 shares<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;"><o:p> </o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">26
Nov 2020<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Quarterly
Financial Report as of 30 September 2020<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><u><span style="font-family: "Times New Roman", serif;">Compared
to Preceding year same period<o:p></o:p></span></u></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Net
rental income reduce by 6.9 % <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Total
Expense increase by 6.2 % mainly due to manager fee, trustee fee and
admistration expense <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Earning
per share reduce by 16.1 %<o:p></o:p></span></p>
</td>
</tr>
</tbody></table><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></b><div><span style="line-height: 115%;"><b><a href="https://ivkls.blogspot.com/2020/11/stock-review-3a-0012-three-resources.html" rel="nofollow" target="_blank">2)3A (0012) - TARE:MK</a></b></span></div><div><br /><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-table-layout-alt: fixed; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 83.4pt;" width="111">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Date<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 63.75pt;" width="85">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">IVKLS<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 2.0cm;" width="76">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Ref Price<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" width="113">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">31 December
2020 (RM)<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" width="132">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Accumulate
Dividend (RM)<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" width="99">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Gain / Loss
(%)<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="background: #00B050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 83.4pt;" width="111">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">09 Nov 20<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 63.75pt;" width="85">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">1.30<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 2.0cm;" width="76">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">0.845<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" width="113">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">0.845<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" width="132">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">0.022<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" width="99">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">+ 2.6<o:p></o:p></span></p>
</td>
</tr>
</tbody></table><span style="font-family: "Times New Roman", serif;"><br /></span></div><div>Announcement from 9 November 2020 to 31 December
2020 </div><div>
<br /><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Date<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Event<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Remark<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">09,
12, 16,19, 24, 27 Nov 2020<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Teo
Kwee Hock Acquired 1,707,100 shares<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">38,855,525
units after change (7.92 %)<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 105.5pt;" valign="top" width="141">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">1,
4, 8, 11, 15, 18, 22, 24,29, 31 Dec 2020<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 190.5pt;" valign="top" width="254">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Teo
Kwee Hock Acquired 2,175,900 shares<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 166.1pt;" valign="top" width="221">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">41,031,425
units after change (8.37 %)<o:p></o:p></span></p>
</td>
</tr>
</tbody></table><p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></b></p><div style="text-align: left;"><a href="https://ivkls.blogspot.com/2020/12/stock-review-harison-5008-harrisons.html" rel="nofollow" target="_blank"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3)
HARISON (5008) - HHM:MK</span></b><span style="font-family: "Times New Roman", serif;"> </span></a></div><p></p>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-table-layout-alt: fixed; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 83.4pt;" width="111">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Date<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 63.75pt;" width="85">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">IVKLS<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 2.0cm;" width="76">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Ref Price<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" width="113">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">31 December
2020 (RM)<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" width="132">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Accumulate
Dividend (RM)<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" width="99">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">Gain / Loss
(%)<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="background: #00B050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 83.4pt;" width="111">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">01 Dec 20<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 63.75pt;" width="85">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">2.53<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 2.0cm;" width="76">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">3.97<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" width="113">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">3.92<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" width="132">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">0.0<o:p></o:p></span></p>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" width="99">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><span style="font-family: "Times New Roman", serif;">-1.26<o:p></o:p></span></p>
</td>
</tr>
</tbody></table><span style="font-family: "Times New Roman", serif;"><br /></span></div><div>Announcement from 1 December 2020 to 31 December
2020</div><div><span style="font-family: "Times New Roman", serif;"><br /></span></div><div><span style="font-family: "Times New Roman", serif;"><b><span style="color: red;">Nil</span></b></span></div><div><span style="color: red; font-family: Times New Roman, serif;"><b><br /></b></span><div><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><p class="MsoNormal"><span style="font-family: "Times New Roman", serif; line-height: 115%;"></span></p><div><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-12353365075834928762020-12-01T07:16:00.000-08:002020-12-01T07:16:09.968-08:00Stock Review – HARISON (5008) (HARRISONS HOLDING (M) BHD)<div style="text-align: left;"><span style="font-family: arial;">Bursa Malaysia - <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5008" target="_blank">5008</a></span><span style="font-family: arial;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=0012" target="_blank"><br /></a></span><span style="font-family: arial;">Bloomberg - <a href="https://www.bloomberg.com/quote/HHM:MK" target="_blank">HHM</a></span><span style="font-family: arial;"><a href="https://www.bloomberg.com/quote/HHM:MK" target="_blank">:MK</a></span><br /><span style="font-family: arial;">Webpage - <a href="http://www.harrisons.com.my/">http://www.harrisons.com.my/</a></span></div><div style="text-align: left;"><span style="font-family: arial;">Yahoo - <a href="https://finance.yahoo.com/quote/5008.KL/" target="_blank">5008.kl</a></span></div><div style="text-align: left;"><br /></div><div style="text-align: left;"><b>Sector</b><span style="font-weight: bold;"> </span><b> <span> </span>: </b>Consumer Products and Services</div><div style="text-align: left;"><b>Sub Sector : </b>Consumer Services</div><div style="text-align: left;"><b>Focus</b><span style="font-weight: bold;"> </span><span style="font-weight: bold;"> </span><b> : </b>Trading and Distribution</div><div style="text-align: left;"><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; line-height: 27.6px;"><br /></span></div><div class="MsoNormal" style="text-align: justify;"><span style="line-height: 27.6px;"><div style="font-family: arial;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Company
Profile:</span></u></b></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;">HARISON is one of the largest sales, marketing,
warehousing, distribution and services organisation in Malaysia, especially in
East Malaysia. Besides that, HARISON also has a major presence in shipping
agency industry and travel industry in East Malaysia.</span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;">HARISON business are as follows:</span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="font-family: arial; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">a) East
Malaysia</span></div><div style="text-indent: 0px;"><ul><li style="font-family: arial;"><span style="font-family: "Times New Roman", serif;">Marketing, sales, warehousing and
distribution of fast moving consumer goods, building materials, engineer
products and agriculture chemical.</span></li><li><span style="font-family: inherit;">Operation of shipping and travel
agency in both Sabah and Sarawak.</span></li></ul></div><div style="font-family: arial; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">b) Peninsular
Malaysia</span></div><div style="text-indent: 0px;"><ul><li><span style="font-family: Times New Roman, serif;">M</span><span style="font-family: inherit;">arketing, sales, warehousing and
distribution of building materials, industrial and agriculture chemicals</span></li><li><span style="font-family: inherit;">Import and distribute fine wine</span></li><li><span style="font-family: inherit;">Freight forwarding and shipping
(Cruise Business)</span></li></ul></div>
<div style="font-family: arial;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON business partner are Nestle, GAB, Malex,
Maersline, SCA Hygiene (Drypers), Reckitt Benckiser (Dettol, Shieldox), Kio,
Ngan Yin and Cocoin.</span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;">HARISON had venture into new retail business in 2018
after acquisition of Watts Harrison Sdn Bhd in Penisular Malaysia which
wholesales and retails Komonoya brand in Malaysia and The Famous Amos Chocolate
Chip Cookies Singapore Pte Ltd which wholesale and retails Famous Amos Cookies
in Singapore.</span></div><div style="font-family: arial;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; font-family: arial;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">Shipping agency and Travel agency would
be affect by Convid 19.<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">HARISON had close down 2 Komonoya
outlets in 2020 and plan to close another in 2021.<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal" style="font-family: arial;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br />Revenue:<o:p></o:p></span></u></b></p>
<p class="MsoNormal" style="font-family: arial;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Below is the revenue and operating margin of HARISON.<o:p></o:p></span></p><br /></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcQeWMTLPb_58IVX_34ZVreX3SlkTx2PyeArq-e5EP4BxHADq-k4l7mGbD1K44-Ekx5V3wtuD3OHtsynSCF7L2ahZyv2m8ci3OftGV1cVZO7-Y5JYjRmdcYvC1DnxuyedtYq-TiW8LUH24/s603/Revenue.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="236" data-original-width="603" height="250" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcQeWMTLPb_58IVX_34ZVreX3SlkTx2PyeArq-e5EP4BxHADq-k4l7mGbD1K44-Ekx5V3wtuD3OHtsynSCF7L2ahZyv2m8ci3OftGV1cVZO7-Y5JYjRmdcYvC1DnxuyedtYq-TiW8LUH24/w640-h250/Revenue.png" width="640" /></a></div><div class="separator" style="clear: both; text-align: left;"><p class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"> </span></p>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">5 Years Annualise Growth of Revenue<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><b><span style="font-family: "Times New Roman", serif;">4.06 %<o:p></o:p></span></b></p>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">10 Years Annualise Growth of Revenue<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><b><span style="font-family: "Times New Roman", serif;">5.26 %<o:p></o:p></span></b></p>
</td>
</tr>
</tbody></table>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">HARISON revenue had growth steadily every years, but
the operating margin had reduce from 4.35 % in 2010 to 2.53 % in 2019.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">In year 2014 show almost 0% operating margin. This
is due to settlement of claim to KASTAM Malaysia of RM 31,500,000. Besides that
in 2014, HARISON also stop distributing Coca-Cola in Sabah.</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Nett
Profit</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Bar Chart below shows HARISON nett profit from 2010 –
2019.</span></div></div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRIXaCCzwZGZwjcqF0QDaeiKHrGDKmJSGpY9sEruY_TMd-QS2Vi_L4eR6hZDx-aV9WTBO3j584p75gd6pgtOVZ6hB4TRgE9q7El7c1yaIc7T1kP7imwQAD9cfx5r0o6JIP_ViJY4v6W9V0/s603/nett+profit.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="232" data-original-width="603" height="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRIXaCCzwZGZwjcqF0QDaeiKHrGDKmJSGpY9sEruY_TMd-QS2Vi_L4eR6hZDx-aV9WTBO3j584p75gd6pgtOVZ6hB4TRgE9q7El7c1yaIc7T1kP7imwQAD9cfx5r0o6JIP_ViJY4v6W9V0/w640-h246/nett+profit.png" width="640" /></a></div></div><div style="text-align: left;"><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON had make a loss in 2014 due to the
settlement to KASTAM Malaysia as discussed previously which is consider a one
off event.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">In 2016 nett income had increase by 41 % was due to
compensation of RM 3,088,000 awarded by Sibu Court for damage arising from a
fire in 2013 to a Sibu warehouse rented by Harrisons Sarawak Sdn Bhd.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">One
off settlement to KASTAM Malaysia RM 31,500,000<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;"><o:p> </o:p></span></p>
</td>
</tr>
</tbody></table><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Assets
and Liabilities</span></u></b><br /><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG0IlgUF-qG0Rc98aH2nwRr8H-oitK_Ag1Az46Za9BZbbQwZs4RQxJYqF4jzftiOom04AOCePfJRWPcho9PD-7ai8RWS3y-bNOYprbzpTZF4kU9YhaB__V5W63nRM_IzwkgmFQcEwjXEy7/s603/asset+and+liabilities.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="232" data-original-width="603" height="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG0IlgUF-qG0Rc98aH2nwRr8H-oitK_Ag1Az46Za9BZbbQwZs4RQxJYqF4jzftiOom04AOCePfJRWPcho9PD-7ai8RWS3y-bNOYprbzpTZF4kU9YhaB__V5W63nRM_IzwkgmFQcEwjXEy7/w640-h246/asset+and+liabilities.png" width="640" /></a></div><div style="text-align: left;"><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON liabilities had growth over the period of 10
years.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">HARISON
liability had growth over the period of 10 years<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;"><o:p> </o:p></span></p>
</td>
</tr>
</tbody></table><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Trade
Receivables</span></u></b><br /><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQtYoVkvSubzpOLhONG8Jqo2dplHw2G_DUIKLvvk7u7A2rRv4cTXDUIwvXLLM6k9AS7Tn1Dq3oyr9VPUqx7pTK_aQr9RRxHaxmv0KXWzStNnvFDXgUastssCvjtVLPEHN1OlPzyqxIzqt6/s603/trade+receivable.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="247" data-original-width="603" height="262" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQtYoVkvSubzpOLhONG8Jqo2dplHw2G_DUIKLvvk7u7A2rRv4cTXDUIwvXLLM6k9AS7Tn1Dq3oyr9VPUqx7pTK_aQr9RRxHaxmv0KXWzStNnvFDXgUastssCvjtVLPEHN1OlPzyqxIzqt6/w640-h262/trade+receivable.png" width="640" /></a></div><div><br /></div><p class="MsoNormal"><span style="font-family: "Times New Roman", serif; line-height: 115%;">In 2018 and 2019 HARISON had over 60 % of their
trade receivables past due.<o:p></o:p></span></p>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l1 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">HARISON
had over 60 % of their trade receivables past due<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Financial
Ratio</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">There would be few financial ratios to be look at
here:</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">1) Interest
Coverage Ratio (Green Bar Chart)</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Cash
Ratio (Blue Line Chart)</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Current
Ratio (Red Line Chart)</span></div><div style="text-align: left;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgP4L-HeYhSDs6ZPeAbdN80l7ws-3GdgjAAmsYtUWX5KU_mV29R3jtv2SomkXSXcOIv0WyTFJyZ9wC5vyg-pTf1LFyh5qvBGQb8LKDCJdDdG2J23dXcV2BeyWW-BU3SrfwJbJy5rMh466uD/s603/financial+ratio.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="258" data-original-width="603" height="274" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgP4L-HeYhSDs6ZPeAbdN80l7ws-3GdgjAAmsYtUWX5KU_mV29R3jtv2SomkXSXcOIv0WyTFJyZ9wC5vyg-pTf1LFyh5qvBGQb8LKDCJdDdG2J23dXcV2BeyWW-BU3SrfwJbJy5rMh466uD/w640-h274/financial+ratio.png" width="640" /></a></div><div style="text-align: left;"><p class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo1; text-indent: -18.0pt;"><br /></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">1) Interest Coverage Ratio</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Interest coverage ratio measure how
capable the company pay off the existing debt. With an interest coverage ratio
above one mean the earnings before interest & tax (EBIT) is able to pay of
the full amount of the financial cost of the year.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">HARISON Interest coverage ratio had
reduce over time from 53.35 in 2010 to 3.52 in 2019</span></div>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">2) </span><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">Cash
Ratio</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">As cash is the most liquid assets
of the company, cash ratio is use to determine company ability to pay off short
term liabilities using cash. Cash ratio above one indicates that company able
to settle all current liabilities using available cash.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">HARISON had low cash ratio of less
than 1 for the past 10 years.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">3) </span><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">Current
Ratio</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Current ratio measures ability of
the company to pay off short term obligation (current liabilities). Current
ratio above one means the company able to pay off the current liabilities with
current asset.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">HARISON had current ratio of more
than 1 for the past 10 years.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
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<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #00b050; font-family: "Times New Roman", serif;">Pro:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l1 level1 lfo3; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #00b050; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: #00b050; font-family: "Times New Roman", serif;">HARISON
had current ratio of more than 1 for the past 10 years<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
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<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l1 level1 lfo3; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">HARISON
had low and decresing interest coverage ratio and below 1 cash ratio.<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></p><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Turnover in Days</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Let
look into three types of turn over as follow:</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">1) Inventory
Turnover (Blue Line)</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Trade
Receivables Turnover (Red Line)</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Trade
Payable Turnover (Green Line)</span></div><p></p><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOXFy8aNRXHQQIY4g4xZtkykPmwKmAMHl8B57YTXebI1it2SCFkjT-ULfYfMcqaqbqmXfoi7tepe9GBzlhnFZNXOvj_B-UTQ9NQJYO8366MtiuFIIgeGbKbEA9n2hbFr3PCvZqjT-SUsnJ/s603/Turnover.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="204" data-original-width="603" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOXFy8aNRXHQQIY4g4xZtkykPmwKmAMHl8B57YTXebI1it2SCFkjT-ULfYfMcqaqbqmXfoi7tepe9GBzlhnFZNXOvj_B-UTQ9NQJYO8366MtiuFIIgeGbKbEA9n2hbFr3PCvZqjT-SUsnJ/w640-h216/Turnover.png" width="640" /></a></div><p class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo1; text-indent: -18.0pt;"><br /></p>
<p class="MsoListParagraphCxSpMiddle"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p><b> </b>1) Days Sales of Inventory</o:p></span></p>
<p class="MsoListParagraphCxSpMiddle"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">10
Years Days Sales of Inventory Median (days) – 44.40<o:p></o:p></span></b></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">On average HARISON Days Sales of
Inventory is around the median 44.40.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Trade
Receivable Turnover (Days)</span></div>
<p class="MsoListParagraphCxSpMiddle"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">10
Years Trade Receivable Turnover (Days) – 59.40</span></b></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON trade receivable turnover
had a compound growth rate of 2.56 %</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Trade
Payable Turnover (Days)</span></div>
<p class="MsoListParagraphCxSpMiddle"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;">10
Years Trade Payable Turnover (Days) – 41.08</span></b></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">On Average HARISON had trade
payable turnover around the median of 41.08.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
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<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="height: 28.05pt; mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="height: 28.05pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">Increasing
Trade Receivable Turnover while stable trade payable turnover would made
HARISON need more cash flow to pay their debtors before collecting back the
money customers.<o:p></o:p></span></p>
</td>
</tr>
</tbody></table><p class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Per Share Analysis<span style="font-size: 18pt;"><o:p></o:p></span></span></u></b></p><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHnZI4jH8Im6BiK6cdE3gFrxQdxa7aN8UYTocT6kW5h96HLxbkvTeE0B61YzC37sZ41Lkg6sjirauddIzqdFflFGeBeT-JMSRYICReov5TXiO6NVGsaYlLBSQYYD4qV1b2b5L3rClH7xfi/s603/Per+Share+Analysis.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="322" data-original-width="603" height="342" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHnZI4jH8Im6BiK6cdE3gFrxQdxa7aN8UYTocT6kW5h96HLxbkvTeE0B61YzC37sZ41Lkg6sjirauddIzqdFflFGeBeT-JMSRYICReov5TXiO6NVGsaYlLBSQYYD4qV1b2b5L3rClH7xfi/w640-h342/Per+Share+Analysis.png" width="640" /></a></div><br /><div><div style="text-align: left; text-indent: -18pt;"><br /></div>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p>1) Earnings per share (sen) (Blue Bar)</o:p></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p>2) Dividend per share (sen) (Red Bar)</o:p></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p>3) </o:p></span><span style="font-family: "Times New Roman", serif; text-indent: -24px;">Net total assets per share (Green Line)</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">1) Earnings
per share</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">In 2014 HARISON had negative
earning per shares due to settlement of claim to KASTAM Malaysia. After 2014
HARISON EPS had growth at CAGR of 13.02. In 2019 the EPS is just slightly
higher than EPS in 2013.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Dividends
per share</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;">HARISON had inconsistence dividend
per shares. In 2011, HARISON DPS is higher than EPS.</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Net
total assets per share</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;">After 2014 HARISON net
total asset per share had a growth rate of 22.9 %.</span></div><div style="text-align: left; text-indent: 0px;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left; text-indent: 0px;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Director’s Remuneration</span></u></b></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;">Some
company paid high remuneration to director despite low profit. Let see how much
is HARISON director’s remuneration in comparison to staff fee and operating
profit.</span></div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivHUijqmAvbDt2tbHwqdoChcZmPm2IgiOiYk5gH4GVcjVkCd-990kGfSexOhBCOzJDEpemB_7Stnesq0q_muqrT885yAuEqYn1DQ5a324LTqEQfggbMx90g_fJ1srZZ7RrZZUAL6cuJAs2/s603/director+remuneration.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="204" data-original-width="603" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivHUijqmAvbDt2tbHwqdoChcZmPm2IgiOiYk5gH4GVcjVkCd-990kGfSexOhBCOzJDEpemB_7Stnesq0q_muqrT885yAuEqYn1DQ5a324LTqEQfggbMx90g_fJ1srZZ7RrZZUAL6cuJAs2/w640-h216/director+remuneration.png" width="640" /></a></div><br /><div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">If
2014 is taken out from the graph, HARISON percentage of director remuneration
against total salaries expense is low which around 4% and around 6.5 % of
operating income</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div>
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<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #00b050; font-family: "Times New Roman", serif;">Pro:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #00b050; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: #00b050; font-family: "Times New Roman", serif;">HARISON
had low director remuneration it is just 4 % of total salaries expense and
6.5 % of the operating income.<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> </o:p></span></div><div style="margin-left: 0cm; text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">ESOS and Warrant</span></u></b></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">No
ESOS and Warrant</span></div><div style="margin-left: 0cm; text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="margin-left: 0cm; text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Material Ligation</span></u></b></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">HARISON
had no material ligation as of 27th November 2020.</span></div><div style="margin-left: 0cm; text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="margin-left: 0cm; text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Return on Equity</span></u></b></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">Return
of equity can be calculated through Du Point Analysis which uses:</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><ul style="text-align: left;"><li><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">Net
Profit Margin to measure operating efficiency, how much money gets out from its
revenue</span></li><li>Asset
Turn Over to measure asset efficiency, how effective the company make use of
its asset</li><li>Equity
Multiplier measure of financial leverage.</li></ul><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi66UKuSi1Qf8OLHGTfIC_9dwxByiMv_1JHPuaX6Us5tIh41HZ4P5gumq76SvaWN9GLcdhSvwVezqYNVwi-P1jMyC3pcunEASsw_Eog3TAk0xEyrNhawjZB0_0WfliE2FgJELu-lHkV3j9E/s603/ROE.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="226" data-original-width="603" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi66UKuSi1Qf8OLHGTfIC_9dwxByiMv_1JHPuaX6Us5tIh41HZ4P5gumq76SvaWN9GLcdhSvwVezqYNVwi-P1jMyC3pcunEASsw_Eog3TAk0xEyrNhawjZB0_0WfliE2FgJELu-lHkV3j9E/w640-h240/ROE.png" width="640" /></a></div><br /><div><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">5 Years Return on Equity Average<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">6.84 %<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">10 Years Return on Equity Average<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">7.66 %<o:p></o:p></span></b></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal" style="tab-stops: 77.35pt;"><span style="font-family: "Times New Roman", serif;">In 2019 ROE of HARISON
is much depend on Equity Multiplier which mean HARISON had high financial
leverage.</span></p>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="height: 28.05pt; mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="height: 28.05pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">HARISON
ROE in 2019 is depends on Equity Multiplier<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Altman
Z Score</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Companies with Altman Z
score < 1.8 is likely headed for bankruptcy while Z score > 3 is unlikely
headed for bankruptcy.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihXVZRGySlFjM1jaqgUO8_AhQzRjoZWLxhhnRWh8qZcdrAlkY3KqHsdWysPQWhotQGsD90btkcWex4oytpLp-HVYYjiv6x-iA1N8Ujh7vqxEFGsAeRVR9uBQ7NIygcYN3bkjfEWzG4l579/s603/Altman+Z+Score.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="273" data-original-width="603" height="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihXVZRGySlFjM1jaqgUO8_AhQzRjoZWLxhhnRWh8qZcdrAlkY3KqHsdWysPQWhotQGsD90btkcWex4oytpLp-HVYYjiv6x-iA1N8Ujh7vqxEFGsAeRVR9uBQ7NIygcYN3bkjfEWzG4l579/w640-h290/Altman+Z+Score.png" width="640" /></a></div><br /><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3A Altman Z-Score above
3 hence unlikely to headed for bankruptcy.</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Convid
19</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Convid 19 had affect
the retail segment of HARISON which their just venture into in 2018. Two
numbers of Komonoya outlets in Malaysia had close in 2020 and one more will be
closing in 2021.</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Market
Research</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">No market research</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">IVKLS
Value</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">2.53</span></div><div style="text-align: left;"><br /></div><div style="text-align: left;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></div><div style="text-align: left;"><br /></div><div style="text-align: left;"><b style="font-family: "times new roman", serif; text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html">Summary of Industry Comparison</a></b></div></div><br /></div></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-10995337460478263402020-11-19T01:53:00.000-08:002020-11-19T01:53:07.610-08:00Harrison Holdings (M) Bhd (HARISON 5008) Vs DKSH Holding (M) Bhd (DKSH 5908)<div style="margin-left: 54pt; text-align: left;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;">Sector : </span></b><span style="font-family: "Times New Roman", serif; line-height: 115%;">Consumer
Products and Services<br /></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Sub
Sector <span style="mso-tab-count: 1;"> </span>:</span></b><span style="font-family: "Times New Roman", serif; line-height: 115%;">
Consumer Services</span></div><div style="margin-left: 54pt; text-align: left;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Focus
<span style="mso-tab-count: 2;"> </span>: </span></b><span style="font-family: "Times New Roman", serif; line-height: 115%;">Trading
and Distribution<br /><o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> <br /></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Harrison Holding (M) Bhd (HARISON) and
DKSH Holding (M) Bhd (DKSH) are the only two large trading and distribution
public listed company in Malaysia. Both company are owned by foreign company
HARISON major shareholder is Bumi Raya International Holding Company Limited
which incorporate in Cayman Islands while DKSH major shareholder is Diethelm
Keller Siber Hegner from Swizerland. Both company coincidentally owned Famous
Amos, HARISON operate Famaous Amos in Singapore while DKSH owned Famous Amos in
Malaysia. HARISON focus in East Malaysia while DKSH focus in Peninsular
Malaysia.<br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> <br /></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">This blog would compare the two
companies in term of:<br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> <br /></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">1)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Operating
Segment<br /><o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">2)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Income
Sheet Item<br /><o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">3)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Balance
Sheet Item<br /><o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">4)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Market
Ratio</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /><o:p></o:p></span><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Operating
Segment</span></u></b></div><div style="margin-left: 54pt; text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON had separate it operation in three segment</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">i)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Trading and Distribution</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /> <o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">This
Segment contribute 95 % of the 2019 profit. It comprised of trading and
distribution of consumer products, building material and agricultural chemical
products and liquor products.</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">ii)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Retail</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /><o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">This
is a new segment for HARISON which show a separated reporting segment after
acquisition of Watts Harrison Sdn Bhd in Penisular Malaysia which wholesale and
retails Komonoya brand inMalaysia and The Famous Amos Chocolate Chip Cookies
Singapore Pte Ltd which wholesale and retails the Famous Amos Cookies in
Singapore.</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="mso-list: Ignore;">iii)<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">Others</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /><o:p></o:p></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Other
segment include engineering, insurance, shipping, travel agency service and
rental of property.</span></div><div style="margin-left: 54pt; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="margin-left: 54pt; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6l8exZNYnctEeUtGW0Y3CzApsWRboC1jADuzNfwdkWaS8dsMBV5Dv1yqL293-HSjnFjnkhC0Z31XPeuVJgWRvMMZwyVqTSfZVny2D5zIoQdc4rGM2qLIgedXMr2Onl84UvcG4tOlQFvUK/s617/HARISON+Segment.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="337" data-original-width="617" height="218" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6l8exZNYnctEeUtGW0Y3CzApsWRboC1jADuzNfwdkWaS8dsMBV5Dv1yqL293-HSjnFjnkhC0Z31XPeuVJgWRvMMZwyVqTSfZVny2D5zIoQdc4rGM2qLIgedXMr2Onl84UvcG4tOlQFvUK/w400-h218/HARISON+Segment.png" width="400" /></a></div></div><div style="margin-left: 54pt; text-align: left;"><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
had separate into three reported segment:</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;">i)<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;">Marketing and Distribution</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">This
segment includes Fast Moving Consumer Goods (“FMCG”) business and Performance
Material business.</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;">ii)<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;">Logistics service</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">This
segment includes the Healthcare business and supply chain focused
telecommunication business</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;">iii)<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -36pt;">Other</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">The
key business in this segment is the Famous Amos Chocolate Chip Cookies chain of
retails outlets.</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4OvvFffmpXQ20YW0hU1EWX7dUNNGF381incpKORM8YIUMbqf6K4hnawmk9bZpqsRszRssnSHCdFwImIUeK6FoGDVM4__hKMggPYypIXYyRLrnu_dkF54G87TF4ZbIpgrZpxCordLCbygB/s579/DKSH+Segment.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="337" data-original-width="579" height="233" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4OvvFffmpXQ20YW0hU1EWX7dUNNGF381incpKORM8YIUMbqf6K4hnawmk9bZpqsRszRssnSHCdFwImIUeK6FoGDVM4__hKMggPYypIXYyRLrnu_dkF54G87TF4ZbIpgrZpxCordLCbygB/w400-h233/DKSH+Segment.png" width="400" /></a></div><br /></div></div><div style="margin-left: 54pt; text-align: left;"><div style="margin-left: 0cm; text-align: left;"><div style="text-align: left; text-indent: -18pt;"><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span><span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
Marketing and Distribution Service and Logistics Services segment can be
classified as Trade and Distribution Segment. Hence both company make almost
all their profit from Trade and Distribution Segment.<o:p></o:p></span></div></div></div><div style="margin-left: 54pt; text-align: left;"><div style="margin-left: 0cm; text-align: left;">
<p class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Both
company did not make much on the retail segment. HARISON only make 1% and DKSH
is making loss in their retail segment for the year 2019.<o:p></o:p></span></p><p class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></p>
<p class="MsoNormal"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Income
Statement<o:p></o:p></span></u></b></p><p class="MsoNormal"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></p>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td rowspan="2" style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.3pt;" valign="top" width="123">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">Ratio<o:p></o:p></span></b></p>
</td>
<td colspan="2" style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 184.9pt;" valign="top" width="247">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">HARISON</span></b><span style="font-family: "Times New Roman", serif;"><o:p></o:p></span></p>
</td>
<td colspan="2" style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 184.9pt;" valign="top" width="247">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">DKSH</span></b><span style="font-family: "Times New Roman", serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2018<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2019<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2018<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2019<o:p></o:p></span></b></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.3pt;" valign="top" width="123">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Gross
Profit Margin<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">10 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">11 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">8 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">9 %<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.3pt;" valign="top" width="123">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Operating
Margin<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">3 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2 %<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.3pt;" valign="top" width="123">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Nett
Profit Margin<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1 %<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.3pt;" valign="top" width="123">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Degree
of Operating Leverage<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2.23<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 92.45pt;" valign="top" width="123">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">5.83<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal"><span style="font-family: "Times New Roman", serif; line-height: 115%;"> </span></p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l3 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Both
companies had one percent higher gross profit margin and operating margin for
the year 2019 compared to 2018. <o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
nett profit margin did not increase for the year 2019 because of high financial
cost for the year 2019. <o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
financial cost had increase by 457 % for the year 2019. <o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="mso-list: l3 level1 lfo2; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON
had better gross profit margin, operating margin and nett profit margin
compared to DKSH.</span></p>
<p class="MsoNormal"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Balance
Sheet <o:p></o:p></span></u></b></p><p class="MsoNormal"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></p>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td rowspan="2" style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">Ratio<o:p></o:p></span></b></p>
</td>
<td colspan="2" style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 164.55pt;" valign="top" width="219">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">HARISON</span></b><span style="font-family: "Times New Roman", serif;"><o:p></o:p></span></p>
</td>
<td colspan="2" style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 164.55pt;" valign="top" width="219">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">DKSH</span></b><span style="font-family: "Times New Roman", serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2018<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2019<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2018<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">2019<o:p></o:p></span></b></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">Solvency Ratio<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Current
Ratio<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1.63<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1.59<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1.39<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1.48<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Quick
Ratio<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1.07<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">1.09<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.91<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.97<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Cash
Ratio<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.22<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.22<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.07<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.02<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Total
Debt / Equity<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.65<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.46<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.10<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.85<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">Liquidity Ratio<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;"> </span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Cash
Conversion Cycle<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">76.50<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">60.02<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">27.73<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">36.28<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Intangible
to Book Value<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2.50 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2.41 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.03 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">63.51 %<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.0pt;" valign="top" width="177">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Inventory
to Sales<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.13<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.12<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.25pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.12<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 82.3pt;" valign="top" width="110">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">0.11<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal"><br /></p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo3; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON
has better solvency ratio compared to DKSH<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
total debt to equity ratio had increase from 0.10 in 2018 to 0.85 in 2019<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
had lower cash conversion cycle (36.28 in 2019) compared to HARISON (60.02 in 2019)<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">DKSH
had intangible to book value had increase from 0.03 % in 2018 to 63.51 % in
2019<o:p></o:p></span></p>
</div></div><div style="margin-left: 54pt; text-align: left;"><div style="margin-left: 0cm; text-align: left;"><div style="text-align: left; text-indent: -18pt;"><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Both
HARISON and DKSH had similar inventory to sales ratio</span></div><div style="text-align: left; text-indent: -18pt;"><b style="text-indent: -18pt;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left; text-indent: -18pt;"><b style="text-indent: -18pt;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Market
Ratio</span></u></b></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif;">As of 19 November 2020</span></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif;"><br /></span></div></div></div><div style="margin-left: 54pt; text-align: left;"><div style="margin-left: 0cm; text-align: left;">
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">Ratio<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">HARISON<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;"><b><span style="font-family: "Times New Roman", serif;">DKSH<o:p></o:p></span></b></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Market
Cap<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">253,000,000<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">563,000,000<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">P/E<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">11.03<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">12.24<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Dividend
Yield<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">5.41<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">2.80<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;">Dividend
Pay out<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">59.70 %<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;"><span style="font-family: "Times New Roman", serif;">34.28%<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal"><br /></p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo4; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON
is the smaller company in term of market cap compare to DKSH<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l2 level1 lfo4; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON
had lower P/E ratio which is 11.03 compare to DKSH which is 12.24<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l2 level1 lfo4; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON
had higher dividend yield of 5.41 %
compared to DKSH which is 2.8 %<o:p></o:p></span></p>
</div></div><div style="margin-left: 54pt; text-align: left;"><div style="margin-left: 0cm; text-align: left;"><div style="text-align: left; text-indent: -18pt;"><span style="font-family: Symbol; line-height: 115%;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">HARISON
had higher dividend payout compared to DKSH</span></div><div style="text-align: left; text-indent: -18pt;"><b style="text-indent: -18pt;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left; text-indent: -18pt;"><b style="text-indent: -18pt;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Conclusion</span></u></b></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Of the two company, </span><span style="font-family: "Times New Roman", serif;">HARISON is worth to further analysis.</span></div><div style="text-align: left; text-indent: -18pt;"><br /></div><div style="text-align: left; text-indent: -18pt;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify; text-indent: 0px;">Summary of Stock Reviews</a></div><div style="text-align: left; text-indent: -18pt;"><br /></div><div style="text-align: left; text-indent: -18pt;"><b style="font-family: "times new roman", serif; text-align: justify; text-indent: 0px;"><a href="https://ivkls.blogspot.com/p/blog-page.html" style="font-family: "times new roman", serif; text-align: justify; text-indent: 0px;">Summary of Industry Comparison</a></b></div></div></div><div style="margin-left: 54pt; text-align: left;">
<p class="MsoListParagraphCxSpLast" style="margin-left: 54.0pt; mso-add-space: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 16.0pt; line-height: 115%;"> </span></p><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div>
IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-66400836155525974802020-11-09T06:47:00.001-08:002020-11-09T06:58:51.944-08:00Stock Review – 3A (0012) (THREE-A RESOURCES BERHAD)<div style="text-align: left;"><span style="font-family: arial;">Bursa Malaysia - </span><span style="font-family: arial;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=0012" target="_blank">0012</a></span></div><div style="text-align: left;"><span style="font-family: arial;">Bloomberg - </span><a href="https://www.bloomberg.com/quote/TARE:MK" style="font-family: arial;" target="_blank">TARE:MK</a></div><div style="text-align: left;"><span style="font-family: arial;">Yahoo - </span><a href="https://finance.yahoo.com/quote/0012.KL/" style="font-family: arial;" target="_blank">0012. KL<br /></a><span style="font-family: arial;">Webpage - </span><a href="http://www.three-a.com.my/" style="font-family: arial;">http://www.three-a.com.my/</a></div><div style="text-align: left;"><br /></div><div style="text-align: left;"><div style="margin: 0px;"><span style="font-family: arial; line-height: 27.6px;">Sector : Consumer Product & Service<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial;"><span face=""arial" , "helvetica" , sans-serif" style="line-height: 27.6px;">Sub Sector : </span><span style="text-align: left;">Food and Beverages</span></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; line-height: 27.6px;">Focus : Sauces and Vinegar</span></div><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Company
Profile:</span></u></b></div><div style="text-align: left;"><span style="font-family: Times New Roman, serif;"><b><u><br /></u></b></span><span style="font-family: "Times New Roman", serif;">Three A Resources Berhad, 3A is focused in
manufacturing and trading of food and beverage ingredient. The company’s
product portfolio include Liquid Caramel, Caramel Colour, Natural Fermented
Vinegar, Distilled Vinegar. Rice Vineger, Glucose Syrup, High Maltose Syrup,
Soya Protein Sauce, Hydrolyzed Vegetable Protein (HVP) Power, Caramel Powder,
Soya Sauce Powder and Maltodextrin.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span><span style="font-family: "Times New Roman", serif;">3A mainly focus in Malaysia (49 %), Singapore (11 %)
and Other Countries (40 %). The Group assets and liabilities are mainly located
in Malaysia.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Revenue:</span></u></b></div><div style="text-align: left;"><span style="font-family: Times New Roman, serif;"><b><u><br /></u></b></span><span style="font-family: arial; font-size: medium; line-height: 27.6px;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Below is the revenue
and operating margin of 3A</span></span></div><div class="MsoNormal" style="text-align: left;"><span style="font-family: arial; font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYXESdgwV74IOZxsc66H10iTYeWpf2oncLkzzwc13sGiPS9R4dQfbfdPu225eDJwleYw0FNtoWcX9j-Hck3BZqAX6JpMzPxuee6LKaoPv7KMsIZve77gomMYEGqlQ2GxMHR5_-RhSvTSeP/s603/Revenue+and+Operating+Margin.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="250" data-original-width="603" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYXESdgwV74IOZxsc66H10iTYeWpf2oncLkzzwc13sGiPS9R4dQfbfdPu225eDJwleYw0FNtoWcX9j-Hck3BZqAX6JpMzPxuee6LKaoPv7KMsIZve77gomMYEGqlQ2GxMHR5_-RhSvTSeP/w640-h266/Revenue+and+Operating+Margin.png" width="640" /></a></div><br /><div style="margin: 0px;"><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">5 Years Annualise Growth of Revenue<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: right;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">6.97 %<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">10 Years Annualise Growth of Revenue<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p align="right" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: right;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">9.34 %<o:p></o:p></span></b></p>
</td>
</tr>
</tbody></table>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3A revenue had average growth rate of 6.97 % from
2015 – 2019 which slow down base on 9.34 % growth rate of 9.34 % from 2010 –
2019. In year 2019 3A revenue had slight decrease compare to 2018 revenue, a
drop of revenue of RM 1,911,000 which is less than 0 % of the 2018 revenue.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Despite lower revenue, 3A had higher operating
margin which is 9.44 % compared to 8.08 % in 2018. 3A able to achieve a better
operating margin due to relatively stable raw material costs couple with
effective mix and product pricing strategies.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Nett
Profit</span></u></b></div><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b><span style="font-family: "Times New Roman", serif; line-height: 115%;">Bar Chart below shows 3A nett profit from 2010 –
2019.</span></div>
<br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9N3ByUy7xNbYJ_xjUHIeQr_bpLllj4h4ZWfHsP-9_dKaHDX44znindnSJ5fdxBUs0yGEzOIQJCPwb_oQ-6fg4YuOXXJ4Vfo4eYXnSKmsXTzvbAGPEeVPpEfoZOk9DM6NyhQq6l4uLGelt/s603/nett+profit.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="250" data-original-width="603" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9N3ByUy7xNbYJ_xjUHIeQr_bpLllj4h4ZWfHsP-9_dKaHDX44znindnSJ5fdxBUs0yGEzOIQJCPwb_oQ-6fg4YuOXXJ4Vfo4eYXnSKmsXTzvbAGPEeVPpEfoZOk9DM6NyhQq6l4uLGelt/w640-h266/nett+profit.png" width="640" /></a></div><br /><div style="margin: 0px; text-align: left;"><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">5 Years Annualise Growth of Nett
Profit<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt; text-align: left;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">10.06 %<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">10 Years Annualise Growth of Nett
Profit<o:p></o:p></span></b></p>
</td>
<td style="padding: 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt; text-align: left;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;">6.36 %<o:p></o:p></span></b></p>
</td>
</tr>
</tbody></table>
<div><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">The 30 % drop of Nett Profit in 2018 compared to
2017 was mainly due to increase of raw material price. The raw material in the
inventories had increase from Rm 22,907,000 to RM 46,281,000, 202% increase.
However in 2019 the price is drop back to RM 27,481,000, 60 % decrease.</span></div><div><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">Until 30<sup>th</sup> June 2020, 3A Nett Profit had
increase by 12.95 % compared to same period of 2019.</span></div><div><span style="font-family: Times New Roman, serif;"><br /></span><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;"><span style="color: #04ff00;">Pro:<o:p></o:p></span></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -18pt;"></p><span style="color: #04ff00;"> - Raw material price had drop by 60 %
compared to 2019.<br /> - Nett Profit for 2020 is expected to
growth at 12.95 %</span><p></p>
</td>
</tr>
</tbody></table><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> <br /></o:p></span><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Assets
and Liabilities</span></u></b></div><div><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div><b style="mso-bidi-font-weight: normal;"><u><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM8NY9rqegZ3QdCD1GSVmHV3YIgKBv2T9dhbweci-XQbbE95fmJIOS93kKkpw1nSLYtIk1yk7ixtIM7EK-_v7dyVQdAatJtO6qyhyE9wZhScqMKg5zRMWfI8l26oSYGFDSUfnbe4UWvM6X/s603/Assets+and+Liabilities.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="250" data-original-width="603" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM8NY9rqegZ3QdCD1GSVmHV3YIgKBv2T9dhbweci-XQbbE95fmJIOS93kKkpw1nSLYtIk1yk7ixtIM7EK-_v7dyVQdAatJtO6qyhyE9wZhScqMKg5zRMWfI8l26oSYGFDSUfnbe4UWvM6X/w640-h266/Assets+and+Liabilities.png" width="640" /></a></div><br /></u></b><p class="MsoNormal"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3A asset grows over the period of 2010 to 2019.
Besides that it liabilities also reduced over the period.</span></p>
<div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Trade
Receivables</span></u></b></div></div>
<br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-dKsHyRb6nrP24Jb_Lb34mxeE0DVsn2diZ6Ayk1rzfXNHU4452xtpnI4FnFnNB0Ck2In3mYsytRo5BoZRw-SW0m2MlbeiLdVDOnp456OMVeQsLnAdjtFm-Q6FRqA-MZh7kjOsciyWQQYO/s603/Trade+Receivables.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="250" data-original-width="603" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-dKsHyRb6nrP24Jb_Lb34mxeE0DVsn2diZ6Ayk1rzfXNHU4452xtpnI4FnFnNB0Ck2In3mYsytRo5BoZRw-SW0m2MlbeiLdVDOnp456OMVeQsLnAdjtFm-Q6FRqA-MZh7kjOsciyWQQYO/w640-h266/Trade+Receivables.png" width="640" /></a></div><br /><div style="margin: 0px; text-align: left;"><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3A had low trade receivable past due for the past 10
year. Highest percentage of trade receivable past due compared to total trade
receivable is in 2010 which is around 10%. 3A managed to keep the trade
receivable past due low despite increase of trade receivable over the year.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span style="color: #00b050; font-family: "Times New Roman", serif;">Pro:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l1 level1 lfo2; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: #00b050; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> - </span></span></span><!--[endif]--><span style="color: #00b050; font-family: "Times New Roman", serif;">Low
Trade receivable past due<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></p><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Financial
Ratio</span></u></b></div><p></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman", serif; line-height: 115%;">There would be few financial ratios to be look at
here:</span></p><p class="MsoNormal"></p><ol style="text-align: left;"><li><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">Interest
Coverage Ratio (Green Bar Chart)</span></li><li>Cash
Ratio (Blue Line Chart)</li><li>Current
Ratio (Red Line Chart)</li></ol><p></p><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLbNv3FBPhFn01QO52GHjXyx350o8IBo-zXRS9wTij_gzAzAjSyYnaNk0tjNd-jmvdL_bx5MPjpQe9hK2z1AWpa0xE26Faow2d2j4rfIcuQA7gG07FvgiCEZ5QLFDwfx1x8rGkUm1Tlh-2/s603/Financial+Ratio.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="277" data-original-width="603" height="294" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLbNv3FBPhFn01QO52GHjXyx350o8IBo-zXRS9wTij_gzAzAjSyYnaNk0tjNd-jmvdL_bx5MPjpQe9hK2z1AWpa0xE26Faow2d2j4rfIcuQA7gG07FvgiCEZ5QLFDwfx1x8rGkUm1Tlh-2/w640-h294/Financial+Ratio.png" width="640" /></a></div></div><p> <span style="font-family: "Times New Roman", serif; text-indent: -18pt;">1) Interest
Coverage Ratio</span></p><div class="MsoNormal" style="text-align: left;">
<p class="MsoListParagraphCxSpMiddle"><span style="font-family: "Times New Roman", serif; line-height: 115%;">Interest coverage ratio measure how
capable the company pay off the existing debt. With an interest coverage ratio
above one mean the earnings before interest & tax (EBIT) is able to pay of
the full amount of the financial cost of the year.</span></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3A manage to keep the interest
coverage ratio above one for the past 10 years. In 2019 3A interest coverage
ratio is at 48.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Cash
Ratio</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div></div><div class="MsoNormal" style="text-align: left;">
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">As cash is the most liquid assets
of the company, cash ratio is use to determine company ability to pay off short
term liabilities using cash. Cash ratio above one indicates that company able
to settle all current liabilities using available cash.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">3A had low cash ratio which only
manage to get above one for 2 years in the last 10 years which is 2017 and
2019.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Current
Ratio</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Current ratio measures ability of
the company to pay off short term obligation (current liabilities). Current
ratio above one means the company able to pay off the current liabilities with
current asset.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Despite low cash ratio, 3A having
high current ratio which means 3A consist higher current asset than current
liability. In 2019 55 % of the current asset are trade receivable and 3A had
low trade receivable past due (0.47 % in 2019) hence 3A had no problem to pay
off it current liability.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span style="font-family: "Times New Roman", serif;"><span style="color: #04ff00;">Pro:<o:p></o:p></span></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l1 level1 lfo3; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: #04ff00;"><span style="font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> - </span></span></span><!--[endif]--></span><span style="font-family: "Times New Roman", serif;"><span style="color: #04ff00;">3A
having high interest coverage ratio (48) and high current ratio (6.67) for
the year 2019</span><span style="color: #00b050;"><o:p></o:p></span></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></p><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Turnover in Days</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Let
look into three types of turn over as follow:</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><ol style="text-align: left;"><li><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">Inventory
Turnover (Blue Line)</span></li><li>Trade
Receivables Turnover (Red Line)</li><li>Trade
Payable Turnover (Green Line)</li></ol></div><p></p><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguLeJLR-A2OIbS1fTc9_aSADF0bLuYSTz1HOtL__O2UmXPY5hooZOt5B6BaUo0CMPnDki0N2FQNIkoOIanCo2H-L9URFGknx4X-UyXlWYMzqXsSvw48OTqrIcw3rSe9eCcvnEWLUxqBWJO/s603/Turnover.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="603" height="218" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguLeJLR-A2OIbS1fTc9_aSADF0bLuYSTz1HOtL__O2UmXPY5hooZOt5B6BaUo0CMPnDki0N2FQNIkoOIanCo2H-L9URFGknx4X-UyXlWYMzqXsSvw48OTqrIcw3rSe9eCcvnEWLUxqBWJO/w640-h218/Turnover.png" width="640" /></a></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: -18pt;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><span> </span><span> 1) </span>Days
Sales of Inventory</span></div><div style="text-align: left; text-indent: -18pt;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span> </span><span> </span></span></b></div><div style="text-align: left; text-indent: -18pt;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span> </span><span> </span>10
Years Days Sales of Inventory Median (days) – 75.20</span></b></div>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">On average 3A Days Sales of
Inventory is around the median 75.2 days except in year 2014 (421.15) and 2015
(377.21)</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Trade
Receivable Turnover (Days)</span></div><div style="text-align: left; text-indent: 0px;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></b></div><div style="text-align: left; text-indent: 0px;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;">10
Years Trade Receivable Turnover (Days) – 82.50</span></b></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;">On average 3A trade receivable
turnover is 82.50 days.</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Trade
Payable Turnover (Days)</span></div><div style="text-align: left; text-indent: 0px;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></b></div><div style="text-align: left; text-indent: 0px;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;">10
Years Trade Payable Turnover (Days) – 12.39</span></b></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;">3A had </span><span style="font-family: "Times New Roman", serif;"> </span><span style="font-family: "Times New Roman", serif;">low trade payable turnover which means it pay
it debtor 6.65 times faster than collect back from creditors. Except in 2015 3A
had negative trade payable turnover which mean 3A was buying less stock because
it has high stock pile in 2014 and 2015.</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraph" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo2; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">3A have
to pay bad it debtor 6.65 times faster than collect back from creditor<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;"></p><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Per Share Analysis</span></u></b></div><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1wQF6I897DwMBPHs_UGQ1QtSUdlgo24frgT14Ccq42TdRFmrfwk4aL7DiYBS6ggn_NV6QOf03tw8x4Nx0VCJM-lA5wI6tZY-AOHlHi4T3wPN91dS8s_GIao_Q_8XYx9DvN-3oOsWoDbHC/s603/Per+Share.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="332" data-original-width="603" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1wQF6I897DwMBPHs_UGQ1QtSUdlgo24frgT14Ccq42TdRFmrfwk4aL7DiYBS6ggn_NV6QOf03tw8x4Nx0VCJM-lA5wI6tZY-AOHlHi4T3wPN91dS8s_GIao_Q_8XYx9DvN-3oOsWoDbHC/w640-h352/Per+Share.png" width="640" /></a></div></u></b><p class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo1; text-indent: -18pt;"></p><ol style="text-align: left;"><li><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span> . </span>Earnings
per share (sen) (Blue Bar)</span></li><li> Dividend
per share (sen) (Red Bar)</li><li><span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span><span style="font-family: "Times New Roman", serif; line-height: 115%; text-indent: -18pt;">Net
total assets per share (Green Line)</span></li></ol><p></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">1) Earnings
per share</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">3A Earning per share is following
16 % trend line for the past 10 years except in 2013 (-36 %) and 2016 (70%).</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">2) Dividends
per share</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">3A dividend had growth every two
years 1.2 sen for (2012&2013), 1.4 sen for (2014&2015), </span><span style="font-family: "Times New Roman", serif;"> </span><span style="font-family: "Times New Roman", serif;">1.8 sen for (2016&2017) and 2.0 sen for
(2018&2019).</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Besides that 3A had issue 1 bonus shares
for every 4 3A shares on 23 may 2017.</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">3) Net
total assets per share</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;">3A net total assets per
share is following the trend of 14.2 % growth rate for the past 10 year.</span></div><div style="text-align: left; text-indent: 0px;"><span style="font-family: "Times New Roman", serif;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span style="color: #00b050; font-family: "Times New Roman", serif;">Pro:<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo3; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: #00b050; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> - </span></span></span><!--[endif]--><span style="color: #00b050; font-family: "Times New Roman", serif;">3A has growing earning per share for
the past 10 years<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo3; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: #00b050; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> - </span></span></span><!--[endif]--><span style="color: #00b050; font-family: "Times New Roman", serif;">3A has growing dividend for the past
10 year despite issues bonus shares<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo3; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: #00b050; font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> - </span></span></span><!--[endif]--><span style="color: #00b050; font-family: "Times New Roman", serif;">3A has growing net total assets per
share for the past 10 years<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><o:p> </o:p></span></div>
<div style="margin-left: 0cm; text-align: left;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Director’s Remuneration</span></u></b></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;">Some
company paid high remuneration to director despite low profit. Let see how much
is 3A director’s remuneration in comparison to staff fee and operating profit.</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikJMp0z-3QVBj233AT-9RzR3MtyMmGOXNrRJkWCkhweYATUGDiR9ZYUYGeXBlOVOUEZljEbzQirFLo29vbjsdd-849yLbxv_GiYnG6w2tWwG7-27_g94UUgaE369xbsOVOrkdyR-q26TlP/s603/Director+Remuneration.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="603" height="218" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikJMp0z-3QVBj233AT-9RzR3MtyMmGOXNrRJkWCkhweYATUGDiR9ZYUYGeXBlOVOUEZljEbzQirFLo29vbjsdd-849yLbxv_GiYnG6w2tWwG7-27_g94UUgaE369xbsOVOrkdyR-q26TlP/w640-h218/Director+Remuneration.png" width="640" /></a></div><div style="margin-left: 0cm; text-align: left;"><br /></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">The
director remuneration maintain at 25 % of the total salaries expense since 2016
which is slightly high. The director remuneration did not decrease despite
lower operating profit in 2018 and 2019</span></div><div style="margin-left: 0cm; text-align: left;"><span style="font-family: "Times New Roman", serif;"> </span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td style="padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span style="color: red; font-family: "Times New Roman", serif;">Cons:<o:p></o:p></span></p>
</td>
</tr>
<tr style="height: 16.05pt; mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="height: 16.05pt; padding: 0cm 5.4pt; width: 462.1pt;" valign="top" width="616">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo2; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> - </span></span><!--[endif]--><span style="color: red; font-family: "Times New Roman", serif;">High director remuneration (25 %) of
total salaries expenses<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo2; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: red; font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> - </span></span><span style="color: red; font-family: "Times New Roman", serif;">Director remuneration did not reduce
despite lower operating profit.<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
<p class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></p><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">ESOS and Warrant</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">No
ESOS and Warrant</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Material Ligation</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">3A
had no material ligation as of 3th November 2020.</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Return on Equity</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">Return
of equity can be calculated through Du Point Analysis which uses:</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><ul style="text-align: left;"><li><span style="font-family: "Times New Roman", serif; text-indent: -18pt;">Net
Profit Margin to measure operating efficiency, how much money gets out from its
revenue</span></li><li>Asset
Turn Over to measure asset efficiency, how effective the company make use of
its asset</li><li>Equity
Multiplier measure of financial leverage.</li></ul></div><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiItf15SPT2DMHvCRbUDfPJU3xJMuQpryYKG2675WNjoUhYB0NFyrP7ZXvG4R95SQ5QuTu-i5HmpgBOaFJObg95t2e0q6Dkv_f_bowhLRzZDz_Nf3eaatrXRRrUSXejB0MnlqqzvfJjuQSZ/s603/ROE.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="243" data-original-width="603" height="258" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiItf15SPT2DMHvCRbUDfPJU3xJMuQpryYKG2675WNjoUhYB0NFyrP7ZXvG4R95SQ5QuTu-i5HmpgBOaFJObg95t2e0q6Dkv_f_bowhLRzZDz_Nf3eaatrXRRrUSXejB0MnlqqzvfJjuQSZ/w640-h258/ROE.png" width="640" /></a></div><br /><div><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr>
<td style="padding: 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<div style="line-height: normal; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">5 Years Return on Equity Average</span></b></div>
</td>
<td style="padding: 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<div style="line-height: normal; margin-bottom: 0cm; text-align: right;"><b><span style="font-family: "Times New Roman", serif;">10.56 %</span></b></div>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<div style="line-height: normal; margin-bottom: 0cm;"><b><span style="font-family: "Times New Roman", serif;">10 Years Return on Equity Average</span></b></div>
</td>
<td style="padding: 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<div style="line-height: normal; margin-bottom: 0cm; text-align: right;"><b><span style="font-family: "Times New Roman", serif;">8.95 %</span></b></div>
</td>
</tr>
</tbody></table><span style="font-family: "Times New Roman", serif; line-height: 115%;"> <br /></span><span style="font-family: "Times New Roman", serif; line-height: 115%;">From the chart, 3A
return on equity is mainly follow the trend of the profit margin.</span></div><div><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Altman
Z Score</span></u></b></div><div><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b><span style="font-family: "Times New Roman", serif; line-height: 115%;">Companies with Altman Z
score < 1.8 is likely headed for bankruptcy while Z score > 3 is unlikely
headed for bankruptcy.</span></div><div><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKgRD8gR15VbmEb7VpGuwLI5KrpshbKF-8PUTOsrxoNo43IFEGdpcRbOxsfqPJEEHQwMLhLQSHTR1cHWYGhgK_JN2vBm41eXeudd5mONm8JDPmmPUloswjw440-5lgINGNzNUhqIVfiYBj/s603/Altman+Score.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="284" data-original-width="603" height="302" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKgRD8gR15VbmEb7VpGuwLI5KrpshbKF-8PUTOsrxoNo43IFEGdpcRbOxsfqPJEEHQwMLhLQSHTR1cHWYGhgK_JN2vBm41eXeudd5mONm8JDPmmPUloswjw440-5lgINGNzNUhqIVfiYBj/w640-h302/Altman+Score.png" width="640" /></a></div><p class="MsoNormal"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Convid
19<o:p></o:p></span></u></b></p>
<div style="text-align: left;"><span style="font-family: "Times New Roman", serif; line-height: 115%;">3A operation is not
affect by Movement Control Order by Malaysia Government since 18 March 2020 to
fight Convid 19. 3A is classified as essential services. Despite the Convid 19,
3A earning per share for the first 6 months of 2020 had increase by 12.95 %
compared to same period last year.</span></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;"><br /></span></u></b></div><div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">Market
Research</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-align: justify;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-align: justify;"><a href="https://drive.google.com/file/d/1CjpfC1g_8T8yN8d402aKMe9yJppNvJcn/view?usp=sharing" target="_blank">PUBLIC INVESTMENT BANKBHD</a> (25 August 2020)</span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-align: justify;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif; text-align: justify;">Price Target : RM 0.98</span></div><div style="text-align: left;"><span style="color: red; font-family: "Times New Roman", serif; text-indent: -18pt;"><br /></span></div><div style="text-align: left;"><ul style="text-align: left;"><li><span style="color: red; font-family: "Times New Roman", serif; text-indent: -18pt;">2QFY20 revenue down 0.9 % YOY</span></li><li><span style="color: #04ff00;">2QFY20 PBT grew by 14.3% YOY</span></li></ul></div>
<div style="text-align: left;"><b><u><span style="font-family: "Times New Roman", serif; line-height: 115%;">IVKLS
Value</span></u></b></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;">1.30</span></div></div><div style="text-align: left;"><span style="font-family: "Times New Roman", serif;"><br /></span></div><div style="text-align: left;"><div style="margin: 0px; text-align: justify;"><span style="line-height: 24.5333px;"><span style="color: #0000ee; font-family: arial; font-size: medium; font-weight: 700;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html">Summary of Stock Reviews</a></span></span></div><div class="MsoNormal" style="text-align: justify;"></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; font-size: medium; line-height: 27.6px;"></span></div><div class="MsoListParagraph" style="margin-left: 0cm; text-align: justify;"><span><span style="font-family: arial; font-size: medium; line-height: 27.6px;"></span></span></div><div style="text-align: justify;"><span style="font-family: arial; font-size: medium;"><span><br /></span><span></span><span><a href="https://ivkls.blogspot.com/p/blog-page.html"><b>Summary of Industry Comparison</b></a></span></span></div></div>
</div><b style="mso-bidi-font-weight: normal;"><u></u></b></div><p></p>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com3tag:blogger.com,1999:blog-568865846992321356.post-6822432947736797352020-10-31T23:25:00.004-07:002020-10-31T23:26:15.916-07:00Stock Review – ALAQAR (5116) (AL-AQAR HEALTHCARE REIT)<div style="text-align: left;"><span style="font-size: medium;"><span style="font-family: arial;">Bursa Malaysia - <span face=""arial" , "helvetica" , sans-serif"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5116" target="_blank">5116<br /></a></span></span><span style="font-family: arial;">Bloomberg - </span><a href="https://www.bloomberg.com/quote/AQAR:MK" style="font-family: arial;" target="_blank">AQAR:MK<br /></a><span style="font-family: arial;"><span><span face=""arial" , "helvetica" , sans-serif" style="line-height: 24.5333px;">Yahoo - <a href="https://finance.yahoo.com/quote/5116.KL/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIRJGznrg1SNqmwG2mHaiLpSAHbmzo9uBAa22KH32BGm_r6SyOYjLwOYT_E0e3682BpOXN3kPhDTRfJRQWw1Co0NgYm5RQBTa-AFH0HX2ElPZQt9gEbvQ-TNrEpxCzd2-0rv3PP1mjcuU5dpSVUGkOpXnn52usPIFbWHjTYI_21O" target="_blank">5116 .kl<br /></a></span></span></span><span style="font-family: arial;"><span face=""arial" , "helvetica" , sans-serif">Webpage - <a href="http://www.alaqar.com.my/">http://www.alaqar.com.my/</a></span></span></span></div><div class="MsoNormal"><span style="font-family: arial; font-size: medium;"><br /></span><div style="margin: 0px;"><span style="font-family: arial; font-size: medium; line-height: 27.6px;">Sector : Real Estate Investment Trust<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; font-size: medium;"><span face=""arial" , "helvetica" , sans-serif" style="line-height: 27.6px;">Sub Sector : </span><span style="text-align: left;">Real Estate Investment Trust</span></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; font-size: medium; line-height: 27.6px;">Focus : Healthcare</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; font-size: medium; line-height: 27.6px;"><p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;">Company
Profile:<o:p></o:p></span></u></b></p>
<p class="MsoNormal"><span style="line-height: 115%;">ALAQAR is managed by Damansara REIT Managers Sdn
Bhd, a wholly-owned subsidiary of Johor Corporation Group (JCorp) and support
by <a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=5878" target="_blank">KPJ Healthcare Berhad</a>.</span></p>
<p class="MsoNormal"><span style="line-height: 115%;">As of December 2019, ALAQAR consists of 23
properties comprising of 17 hospitals, 3 wellness/ healthcare centres, 2
colleges and 1 aged care and retirement village. One of them is located in
Queensland Australia.<o:p></o:p></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;">Properties:</span></u></b></p><p class="MsoNormal" style="text-indent: 0px;"><span style="text-indent: -18pt;">a) </span><span style="text-indent: -18pt;">Hospitals</span></p>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; width: 637px;">
<tbody><tr style="height: 62.35pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Property Name<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Location<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Tenancy Expiry<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA (2018)<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2019)<o:p></o:p></b></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 1;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ AMPANG PUTERI SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Ampang, Selangor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">24.95<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">25.45<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 2;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ DAMANSARA SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Petaling Jaya, Selangor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">19.25<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">19.64<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 3;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ JOHOR SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Johor Bharu, Johor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.45<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.66<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 4;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ PUTERI SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Johor Bharu, Johor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">23.69<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">24.16<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 5;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ SELANGOR SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Shah Alam, Selangor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">18.01<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">18.37<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 6;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ IPOH SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Ipoh, Perak<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">13.99<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">14.11<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 7;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ PERDANA SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kota Bharu, Kelantan<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">February 2020<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">22.02<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">22.46<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 8;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">SENTOSA MEDICAL CENTRE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kuala Lumpur<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">24.41<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">24.90<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 9;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ KAJANG SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kajang, Selangor<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">February 2020<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.45<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.80<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 10;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KEDAH MEDICAL CENTRE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Alor Setar, Kedah<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">February 2020<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.33<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.68<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 11;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ PENANG SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Bukit Mertajam, Pulau Pinang<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">October 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">25.69<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">25.26<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 12;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ TAWAKKAL SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kuala Lumpur<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">July 2022<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">25.44<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">25.69<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 13;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ SEREMBAN SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Seremban, Negeri Sembilan<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">October 2024<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">26.08<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">26.77<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 14;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">TAIPING MEDICAL CENTRE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Taiping, Perak<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">April 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.75<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">17.87<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 15;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KLUANG UTAMA SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kluang, Johor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">January 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">9.30<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">9.49<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 16;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ KLANG SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Klang, Selangor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">20.63<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">20.60<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 17; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ BATU PAHAT SPECIALIST HOSPITAL<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Batu Pahat, Johor<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">December 2022<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><o:p> </o:p></p>
</td>
<td style="background: rgb(146, 208, 80); border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">0.15<o:p></o:p></p>
</td>
</tr>
</tbody></table>
<p class="MsoNormal"><span style="line-height: 115%;"><o:p><br /></o:p></span></p><p class="MsoNormal"><span style="line-height: 115%;"><o:p> b) </o:p></span><span style="text-indent: -18pt;">Wellness
/ Healthcare Centre</span></p>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-table-layout-alt: fixed; mso-yfti-tbllook: 1184; width: 637px;">
<tbody><tr style="height: 62.35pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Property Name<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Location<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Tenancy Expiry<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2018)<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2019)<o:p></o:p></b></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 1;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KUANTAN WELLNESS CENTRE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kuantan, Pahang<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">20.38<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">20.79<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 2;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">DAMAIN WELLNESS CENTRE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kota Kinabalu, Sabah<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">June 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">25.15<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">20.72<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">TAWAKKAL HEALTH CENTRE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Kuala Lumpur<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">May 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.9pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">26.22<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 65.95pt;" valign="top" width="88">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">26.74<o:p></o:p></p>
</td>
</tr>
</tbody></table><span style="line-height: 115%; text-indent: -18pt;"><div style="text-align: start; text-indent: 0px;"><span style="line-height: 115%; text-indent: -18pt;"><span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"><br /></span></span></div><div style="text-align: start; text-indent: 0px;"><span style="line-height: 115%; text-indent: -18pt;"><span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"><br /></span></span></div><div style="text-align: start; text-indent: 0px;"><span style="line-height: 115%; text-indent: -18pt;">c) College</span> </div><div style="text-align: start; text-indent: 0px;"><br /></div></span><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; width: 637px;">
<tbody><tr style="height: 62.35pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Property Name<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Location<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 78pt;" valign="top" width="104">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Tenancy Expiry<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 69.45pt;" valign="top" width="93">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2018)<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 69.45pt;" valign="top" width="93">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2019)<o:p></o:p></b></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 1;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ HEALTHCARE UNIVERSITY COLLEGE,
NILAI<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Nilai, Negeri Sembilan<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 78pt;" valign="top" width="104">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><o:p> </o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 69.45pt;" valign="top" width="93">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">9.68<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 69.45pt;" valign="top" width="93">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">15.68<o:p></o:p></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 2; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">KPJ INTERNATIONAL COLLEGE, PENANG<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 3cm;" valign="top" width="113">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Bukit Mertajam, Pulau Pinang<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 78pt;" valign="top" width="104">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">October 2021<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 69.45pt;" valign="top" width="93">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">27.84<o:p></o:p></p>
</td>
<td style="background: red; border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 69.45pt;" valign="top" width="93">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">26.64<o:p></o:p></p>
</td>
</tr>
</tbody></table><p class="MsoListParagraphCxSpFirst" style="text-indent: 0px;"><span style="text-indent: -18pt;"><br />d) </span><span style="text-indent: -18pt;">Aged
and retirement village</span></p>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; width: 637px;">
<tbody><tr style="height: 62.35pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Property Name<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 99.25pt;" valign="top" width="132">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Location<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 77.95pt;" valign="top" width="104">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Tenancy Expiry<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 62.35pt;" valign="top" width="83">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2018)<o:p></o:p></b></p>
</td>
<td style="border-left: none; border: 1pt solid windowtext; height: 62.35pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 62.4pt;" valign="top" width="83">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Rental / GFA
(2019)<o:p></o:p></b></p>
</td>
</tr>
<tr style="height: 20.8pt; mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: 1pt solid windowtext; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 175.5pt;" valign="top" width="234">
<p class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">JETA GARDENS AGED CARE &
RETIREMENT VILLAGE<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 99.25pt;" valign="top" width="132">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">Queensland, Australia<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 77.95pt;" valign="top" width="104">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;"><o:p> </o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 62.35pt;" valign="top" width="83">
<p class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">9.68<o:p></o:p></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; height: 20.8pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 62.4pt;" valign="top" width="83">
<p class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">15.68<o:p></o:p></p>
</td>
</tr>
</tbody></table>
<p class="MsoListParagraph"><span style="line-height: 115%;"><o:p> </o:p></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;">Fee<o:p></o:p></span></u></b></p>
<p class="MsoNormal"><span style="line-height: 115%;">ALAQAR maintenance fee had increase from RM 599,810
in 2016 to RM 2,113,889 in 2019 which is Compound annual growth rate of 37.01
%. This made the maintenance fee / rental increase from 0.61 % to 2.11 %.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="line-height: 115%;">For the year 2009 to 2019, the management fee is
range 1.40 % – 2.36 % of total rental income while the total fee is range<span style="mso-spacerun: yes;"> </span>2.47% - 4.41 %.<o:p></o:p></span></p><br /></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhzgHUTfeWSeLp9ALZRFltaaJc-Hk_vU5ypKC3-0Z5R5xDNJJu3hssa1o0UV8EBzmH4s3T2nLKHIZI_Wmtn1USzcXz6avtYhPmXYG3CYzQhmd1P-W9UHdtylMKOmXLRQFfH30PfNTRXmdU_/s603/ratio.png" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial; font-size: medium;"><img border="0" data-original-height="286" data-original-width="603" height="304" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhzgHUTfeWSeLp9ALZRFltaaJc-Hk_vU5ypKC3-0Z5R5xDNJJu3hssa1o0UV8EBzmH4s3T2nLKHIZI_Wmtn1USzcXz6avtYhPmXYG3CYzQhmd1P-W9UHdtylMKOmXLRQFfH30PfNTRXmdU_/w640-h304/ratio.png" width="640" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><div style="text-align: left;"><b><u><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Income</span></span></u></b></div></div><span style="font-family: arial; font-size: medium;"><br /></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7SI_sRHmeTYqR2W_365J7d0yvJl7U_Kw2K-MlU2t0XQIhwjucjaWu2k7OqGJzwvoNSDmnujnPjak01GzWGttld7GnN4M-5If6RwOV0ibPb1hIpxf2X6LM4vGnR6qz70Yj5vwBoqhwjRfS/s603/gross+income+vs+nett+income.png" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial; font-size: medium;"><img border="0" data-original-height="286" data-original-width="603" height="304" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7SI_sRHmeTYqR2W_365J7d0yvJl7U_Kw2K-MlU2t0XQIhwjucjaWu2k7OqGJzwvoNSDmnujnPjak01GzWGttld7GnN4M-5If6RwOV0ibPb1hIpxf2X6LM4vGnR6qz70Yj5vwBoqhwjRfS/w640-h304/gross+income+vs+nett+income.png" width="640" /></span></a></div><span style="font-family: arial; font-size: medium;"><br /></span><div class="MsoNormal" style="text-align: justify;"><p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">From the chart above, the gross income for ALAQAR
had drop significantly in 2016 and slight more in 2017. This is because of
disposal of Rumah Sakit Bumi Serpong Damai and Rumah Sakit Medika Permata Hijau
from Indonesia in 2016 and further disposal of Selesa Tower, Johor Bharu in
2017.<o:p></o:p></span></span></p><p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;"><br /></span></span></p>
<p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">However there is an increase in nett income in 2017
and 2018, this is mainly because of higher gain on fair value on investment properties
which is RM 24,791,923 and RM 30,341,920 which is paper gain. The REIT does not
have any benefit from the gain on fair value on investment properties besides
increase the value of asset. ALAQAR also had to pay more tax due to the profit
recorded in the income statement. The same go to year 2011 where the nett
profit is higher than the gross profit. In 2011 ALAQAR recorded fair value gain
of RM 38,794,262.<o:p></o:p></span></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Market
Capitalisation vs Nett Asset<o:p></o:p></span></span></u></b></p><span style="font-family: arial; font-size: medium;"><br /></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgC4esXFoUXkyUQci2s28UxMC6XsGBTP7f1HyOS3zkOuUSAvWzQFaFs25xiwOrv-X9Y2UMvSm3YfKpphny_zL5xnHpAOuQm3mNefNIQepOmCS7Lva2Iaz4Z6lfJUdRzOQ_C6-suqJi9Av4j/s603/market+capotalisation+ve+net+asset.png" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial; font-size: medium;"><img border="0" data-original-height="286" data-original-width="603" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgC4esXFoUXkyUQci2s28UxMC6XsGBTP7f1HyOS3zkOuUSAvWzQFaFs25xiwOrv-X9Y2UMvSm3YfKpphny_zL5xnHpAOuQm3mNefNIQepOmCS7Lva2Iaz4Z6lfJUdRzOQ_C6-suqJi9Av4j/s16000/market+capotalisation+ve+net+asset.png" /></span></a></div><p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">From the chart, ALAQAR had trade at a premium during
2012 to 2017. <o:p></o:p></span></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Dividend
<o:p></o:p></span></span></u></b></p>
<p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Over the past<span style="mso-spacerun: yes;">
</span>year 2010 to 2019, ALAQAR had pay to shareholder an average dividend of
7.51 sen which is 5.73 % of the today price 1.31 (i November 2020).<o:p></o:p></span></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Convid
19<o:p></o:p></span></span></u></b></p>
<p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">During the pandemic, ALAQAR had provide assistance
to its tenants in the form of rental rebate. From the quarter report for
financial end 30 June 2020, the gross revenue from the first six month of 2020
had decrease by 6.4 % compared to first 6 month of 2019 besides that the
property expense had increase by 10 %.<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Besides that the trust expense had also increase by
5 % compare to the first 6 months of 2019. The net earning per share for the
first 6 month had reduce from 4.24 sen in 2019 to 3.54 sen in 2020<span style="mso-spacerun: yes;"> </span>which is 16.5 % decrease.<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">With the government of Malaysia declare Conditional
MCO in Sabah, Selangor, Kuala Lumpur, Putrajaya and recently Johor Bharu, these
would further affect the tenant of ALAQAR. Further discount on the rental rate
might be given to the tenants.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Market
Research<o:p></o:p></span></span></u></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;"><a href="https://drive.google.com/file/d/1TfjF4Q9NhpIj6F41tJPE9WTlan5_x2rL/view?usp=sharing" target="_blank">MIDF AMANAH INVESTMENTBANK BHD (1 September 2020)</a><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">Price Target : RM 1.42</span></span></p><p class="MsoNormal" style="text-align: justify;"></p><ul><li><span style="text-align: left; text-indent: -18pt;"><span style="font-family: arial; font-size: medium;">1HFY20
earning below expectation</span></span></li><li><span style="font-family: arial; font-size: medium;">Earning
weight by rental rebate</span></li><li><span style="font-family: arial; font-size: medium;">Earning
drag by higher financial cost</span></li><li><span style="font-family: arial; font-size: medium;">Earning
forecast reduce</span></li></ul><p></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">IVKLS
Value<o:p></o:p></span></span></u></b></p>
<p class="MsoNormal"><span style="line-height: 115%;"><span style="font-family: arial; font-size: medium;">1.06<o:p></o:p></span></span></p><div style="margin: 0px; text-align: justify;"><span style="line-height: 24.5333px;"><span style="color: #0000ee; font-family: arial; font-size: medium; font-weight: 700;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html">Summary of Stock Reviews</a></span></span></div><div class="MsoNormal" style="text-align: justify;"></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: arial; font-size: medium; line-height: 27.6px;"></span></div><div class="MsoListParagraph" style="margin-left: 0cm; text-align: justify;"><span><span style="font-family: arial; font-size: medium; line-height: 27.6px;"></span></span></div><div style="text-align: justify;"><span style="font-family: arial; font-size: medium;"><span><br /></span><span></span><span><a href="https://ivkls.blogspot.com/p/blog-page.html"><b>Summary of Industry Comparison</b></a></span></span></div></div>IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-70081997218558266862020-07-13T07:36:00.000-07:002020-07-13T07:37:27.656-07:00Stock Review – ARANK (7214) (A-RANK BHD) - 2<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Bursa Malaysia - <span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7214">7214</a></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Bloomberg - <a href="https://www.bloomberg.com/quote/ARNK:MK">ARNK:MK</a></span><br />
<div class="MsoNormal">
<span style="font-family: "times new roman" , serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 24.5333px;">Yahoo - <a href="https://finance.yahoo.com/quote/7214.KL/">7214 .kl</a></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Webpage - </span><span style="font-size: large;"><a href="https://www.arank.com.my/">https://www.arank.com.my/</a></span><br />
<br />
<div style="margin: 0px;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">Sector : Industrial Products and Services<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">Sub Sector : Metals</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">Focus : Aluminium</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><br /></span></div>
<br />
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Company
Profile:<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">ARANK is principally
involved in manufacturing and marketing of aluminium billets. ARANK is
currently the largest manufacturer and supplier of aluminium billets in
Malaysia and one of Asia’s leading suppliers of aluminium extrusion billets.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Revenue:<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Below is the revenue and operating margin of ARANK.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9AswLAbV0ay72zYqbWiQe0kGiwLQKGVHtM8L7fhoZUtIA0RyYgsq2Pn6A1kvVJhlEY_l9eADDUvjeO6tZRxgc1_OrvW-owjc_Ng7V94PJu-q5cKNZzQP7jOdDDeI8Xi5nMmS6eUAnayTU/s1600/revenue.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="262" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9AswLAbV0ay72zYqbWiQe0kGiwLQKGVHtM8L7fhoZUtIA0RyYgsq2Pn6A1kvVJhlEY_l9eADDUvjeO6tZRxgc1_OrvW-owjc_Ng7V94PJu-q5cKNZzQP7jOdDDeI8Xi5nMmS6eUAnayTU/s640/revenue.png" width="640" /></a></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<br /></div>
<div class="MsoNormal">
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">5 Years Annualise Growth of Revenue<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">-0.21 %<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">10 Years Annualise Growth of Revenue<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">3.53 %<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK revenue had slow down for the past five year compare
to the previous 10 years. Despite lower revenue ARANK operating margin had
increase from around 2.5 % before 2016 to 3.5 % in 2019.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Nett
Profit<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Bar Chart below shows ARANK nett profit from 2010 –
2019.<o:p></o:p></span></div>
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje460Jjh4NCOiG9Ff8vhY2WGrVV27784YZgtCl2-eVqFvzPYmyKhgaRwcD1TgTdN6b-mI2ZNw5f042I6FOEe_z85CA84UY3iA1tuOB2Nokkg_stixkMoAdtxAWW-gXwkepjPkIY_KzmmpI/s1600/net+profit.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="262" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje460Jjh4NCOiG9Ff8vhY2WGrVV27784YZgtCl2-eVqFvzPYmyKhgaRwcD1TgTdN6b-mI2ZNw5f042I6FOEe_z85CA84UY3iA1tuOB2Nokkg_stixkMoAdtxAWW-gXwkepjPkIY_KzmmpI/s640/net+profit.png" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">5 Years Annualise Growth of Nett
Profit<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">2.61 %<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">10 Years Annualise Growth of Nett
Profit<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">16.22 %<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Year 2016 recorded the highest nett profit growth of
53 % mainly due to higher profit margin.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">In 2017 ARANK had dispose 55 % of Hong Lee Group Sdn
Bhd with a total cash consideration of RM 2,105,400 which ARANK had acquired in
2013.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Assets
and Liabilities<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK asset grows over the period of 2010 to 2019.
Besides that it liabilities also reduced over the period.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Trade
Receivables<o:p></o:p></span></u></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNUwt6cAg7ZjAcwxl7wlbJfY-2C4Du4YaOCWexJN4WxEzAFfzbxZNm12wk8XqgTaROLkPvf-33TZ10XMaSTFZuvlMeZIJshwqG7QTlgvNDE3hPENpev_dPvd5-x3a1MMLfnkZeYxWIior4/s1600/trade+receivables.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="262" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNUwt6cAg7ZjAcwxl7wlbJfY-2C4Du4YaOCWexJN4WxEzAFfzbxZNm12wk8XqgTaROLkPvf-33TZ10XMaSTFZuvlMeZIJshwqG7QTlgvNDE3hPENpev_dPvd5-x3a1MMLfnkZeYxWIior4/s640/trade+receivables.png" width="640" /></a></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Prior 2014 there is no trade receivable past due.
ARANK impaired all their trade receivable past due. Between 2015 to 2019 ARANK
trade receivables past due is between 10% to 20 %.<o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Financial
Ratio<o:p></o:p></span></u></b></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">There would be few financial ratios to be look at
here:</span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">1) </span><span style="font-family: "times new roman" , serif; font-size: 18pt; text-indent: -18pt;">Interest
Coverage Ratio (Green Bar Chart)</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">2)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Cash
Ratio (Blue Line Chart)</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">3)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Current
Ratio (Red Line Chart)</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;"><br /></span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; text-indent: -18pt;"><br /></span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; text-indent: -18pt;">1) </span><span style="font-family: "times new roman" , serif; font-size: 18pt; text-indent: -18pt;">Interest
Coverage Ratio</span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Interest coverage ratio measure how
capable the company pay off the existing debt. With an interest coverage ratio
above one mean the earnings before interest & tax (EBIT) is able to pay of
the full amount of the financial cost of the year. <o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK had interest coverage ratio more
than one for the past 10 years. In 2017 ARANK interest coverage ratio is at 35
which is the highest and drop to 12 in 2019.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">2) </span><span style="font-family: "times new roman" , serif; font-size: 18pt; text-indent: -18pt;">Cash
Ratio</span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">As cash is the most liquid assets
of the company, cash ratio is use to determine company ability to pay off short
term liabilities using cash. Cash ratio above one indicates that company able
to settle all current liabilities using available cash.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK had low cash ratio from 2010
to 2018, however in 2019 the cash ratio is above 1 for the first time over the
last ten years.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">3) </span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Current
Ratio</span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Current ratio measures ability of
the company to pay off short term obligation (current liabilities). Current
ratio above one means the company able to pay off the current liabilities with
current asset.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Despite low cash ratio, ARANK
current ratio is above from 2011 onward.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Turnover in Days<o:p></o:p></span></u></b></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Let
look into three types of turn over as follow:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">1)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Inventory
Turnover (Blue Line)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">2)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Trade
Receivables Turnover (Red Line)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">3)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Trade
Payable Turnover (Green Line)</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;"><img alt="" height="217" src="data:image/png;base64,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" width="640" /></span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;"><br /></span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">1) </span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Days
Sales of Inventory</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">10
Years Days Sales of Inventory Median (days) – 28.23<o:p></o:p></span></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK days sales of inventory had
increase from 26.55 days in 2010 to 44 day in 2018 before drop to 33. ARANK
inventories had took longer time to sell out compared to 2010.<o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><o:p>2) </o:p></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Trade
Receivable Turnover (Days)</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">10
Years Trade Receivable Turnover (Days) – 24.36<o:p></o:p></span></b></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK trade receivable turn over
had also increase from 10 days in 2010 to 24 days in 2019. ARANK took longer
time to collect back the debt.<o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><o:p>3)</o:p></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Trade
Payable Turnover (Days)</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">10
Years Trade Payable Turnover (Days) – 4.33<o:p></o:p></span></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK had very low trade payable
turnover which means it pay it debtor 6 times faster than collect back from
creditors.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Per Share Analysis<o:p></o:p></span></u></b></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGBXEUU9FA3aE76YNovhvq9cmUpVNiijR3Pxxxp4FPI4NI9wM7ff08HlM4hVMc4DY1l13P_fTNKsVzGh86s2jA2CFSu0vYTlivt-WfbQEpj2qe8mwVfleGgabgZ4m4UwwMyoA6JCYqSAmt/s1600/Per+Share+Analysis.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="338" data-original-width="603" height="358" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGBXEUU9FA3aE76YNovhvq9cmUpVNiijR3Pxxxp4FPI4NI9wM7ff08HlM4hVMc4DY1l13P_fTNKsVzGh86s2jA2CFSu0vYTlivt-WfbQEpj2qe8mwVfleGgabgZ4m4UwwMyoA6JCYqSAmt/s640/Per+Share+Analysis.png" width="640" /></a></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">1)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Earnings
per share (sen) (Blue Bar)</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">2)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Dividend
per share (sen) (Red Bar)</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">3)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Net
total assets per share (Green Line)</span></div>
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<div class="MsoNormal">
<br /></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">1)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Earnings
per share</span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Other thank year 2016 and year 2017
ARANK had quite consistence earning per share around 8 sen.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">2)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Dividends
per share</span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK had consistence dividend per
year of 3 sen. ARANK had issue bonus shares twice over the past 10 years. 1:2
Bonus in year 2012 and 2:5 bonus in year 2019.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">3)<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span style="font-family: "times new roman" , serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Net
total assets per share</span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "times new roman" , serif; font-size: 18pt;">There is a significant
drop in net asset per share in 2016 and 2017 due to impaired the goodwill of
Hong Lee Group Sdn Bhd in 2016 and disposal of Hong Lee Group Sdn Bhd in 2017.</span></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Director’s Remuneration<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Some
company paid high remuneration to director despite low profit. Let see how much
is ARANK director’s remuneration in comparison to staff fee and operating
profit.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh31MIZteww-tu5p3Bpoel4A7IByGiEMQYLajpI7BT6ow73uld5t8AtkwfK4PFQg-gQw5-gOgltFY4pAHOdwlA-B6NfGzg_prBKrmsKTsmCcsPGjGp0-0jLIqnIa5KWBQK2yKKLXBUWwhZj/s1600/Director+Remuneration.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="204" data-original-width="603" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh31MIZteww-tu5p3Bpoel4A7IByGiEMQYLajpI7BT6ow73uld5t8AtkwfK4PFQg-gQw5-gOgltFY4pAHOdwlA-B6NfGzg_prBKrmsKTsmCcsPGjGp0-0jLIqnIa5KWBQK2yKKLXBUWwhZj/s640/Director+Remuneration.png" width="640" /></a></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">There
is slightly higher director remuneration expense in 2016 and 2017 where the
nett profit of the companies is high.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Datuk
Leow Chong Hwa, major shareholder of ARANK is also major shareholder of LBALUM
and City Data Limited via his spouse.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ESOS and Warrant<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Five
years ESOS from 27 August 2018 until 26 August 2023 are granted to the eligible
employees and director at 0.65.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">As
of 31<sup>st</sup> July 2019 ARANK granted 10,492,400 options to eligible
director and employee. The option price had adjusted to 0.46 due to bonus issue
on 18 January 2019.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Material Ligation<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK
had no material ligation as of 30<sup>th</sup> April 2020.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Return on Equity<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Return
of equity can be calculated through Du Point Analysis which uses:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
</div>
<ul>
<li><span style="font-family: "times new roman" , serif; text-indent: -18pt;"><span style="font-size: large;">Net
Profit Margin to measure operating efficiency, how much money gets out from its
revenue</span></span></li>
<li><span style="font-size: large;">Asset
Turn Over to measure asset efficiency, how effective the company make use of
its asset</span></li>
<li><span style="font-size: large;">Equity
Multiplier measure of financial leverage.</span></li>
</ul>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_k0xo-QNB_xJQRnheNjIdCA0QjwHJ7qP0FMOLL1yMy05XHpGe_PdZBm3iMKFDPaQzhCtZVnMnZJbr0Jkmk4sz0w7PRmPQEcoBdXyNNXI5jg5aVdRL5jPjjocBVs-zNqeSP9nKv64Z9WrO/s1600/ROE.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="262" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_k0xo-QNB_xJQRnheNjIdCA0QjwHJ7qP0FMOLL1yMy05XHpGe_PdZBm3iMKFDPaQzhCtZVnMnZJbr0Jkmk4sz0w7PRmPQEcoBdXyNNXI5jg5aVdRL5jPjjocBVs-zNqeSP9nKv64Z9WrO/s640/ROE.png" width="640" /></a></div>
<div>
<span style="font-size: large;"><br /></span></div>
<br />
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">5 Years Return on Equity Average<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">12.08 %<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">10 Years Return on Equity Average<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt;">11.53 %<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
<div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK equity multiplier
had decrease over the period from 2010 to 2019. While asset turnover and net
profit margin remain almost constant except in 2016 and 2017 which see increase
in net profit margin which increase the return on equity to above 14 %. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<b><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Altman
Z Score<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b><u><span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">Companies with Altman Z
score < 1.8 is likely headed for bankruptcy while Z score > 3 is unlikely
headed for bankruptcy.<o:p></o:p></span></div>
</div>
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgspGiI-8o1M_t8pnr-XzCyDq0Anoi_OhhHov3qk-o_CwGbkd_N2qjMbJRNt9ve8GqA_5g7yHLTNCQF_KucYjn64qJhsED4rWXasAkfFcxTb5UOaUvWbuFmTV538VCZleaVbQHAzDCUydhp/s1600/Altman+Z+Score.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="286" data-original-width="571" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgspGiI-8o1M_t8pnr-XzCyDq0Anoi_OhhHov3qk-o_CwGbkd_N2qjMbJRNt9ve8GqA_5g7yHLTNCQF_KucYjn64qJhsED4rWXasAkfFcxTb5UOaUvWbuFmTV538VCZleaVbQHAzDCUydhp/s640/Altman+Z+Score.png" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<div class="MsoNormal" style="tab-stops: 77.35pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 18.0pt; line-height: 115%;">ARANK Altman Z-Score
above 3 hence unlikely to headed for bankruptcy.<o:p></o:p></span></div>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<div style="margin: 0px; text-align: justify;">
<span style="line-height: 24.5333px;"><span style="color: #0000ee; font-family: "arial" , "helvetica" , sans-serif; font-size: large; font-weight: 700;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html">Summary of Stock Reviews</a></span></span></div>
<div class="MsoNormal" style="text-align: justify;">
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"></span></div>
<div class="MsoListParagraph" style="margin-left: 0cm; text-align: justify;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"></span></span></div>
<div style="text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><span style="text-align: justify;"><br /></span><span style="text-align: justify;"></span><span style="text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html"><b>Summary of Industry Comparison</b></a></span></span></div>
</div>
IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com2tag:blogger.com,1999:blog-568865846992321356.post-80142973247840754872020-06-08T01:55:00.000-07:002020-06-08T01:55:05.940-07:00Stock Review – PWF (7134) (PWF CORPORATION BERHAD)<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Bursa Malaysia - <span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.bursamalaysia.com/trade/trading_resources/listing_directory/company-profile?stock_code=7134">7134</a></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Bloomberg - <a href="https://www.bloomberg.com/quote/PW:MK">PW:MK</a></span><br />
<div class="MsoNormal">
<span style="font-family: "times new roman" , serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 24.5333px;">Yahoo - <a href="https://finance.yahoo.com/quote/7134.KL/">7134 .kl</a></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Webpage - </span><a href="http://www.pwconsolidated.com.my/"><span style="font-size: large;">http://www.pwconsolidated.com.my/</span></a><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<div style="margin: 0px;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">Sector : Consumer Products and Services<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">Sub Sector : Agriculture Products</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">Focus : Poultry</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"></span><br />
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Company
Profile:<o:p></o:p></span></u></b></span></div>
<div class="MsoNormal">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF core business is integrated poultry farming. PWF
had it headquarter in Penang. PWF involves in feed manufacturing with a maximum
capacity of 26,000 metric tonnes per month. The feed manufacturing process is
fully automated.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF main products are boiler, table eggs and process
chicken. PWF able to produce over 5 million kgs of boiler per year, 3 million
birds of day old chicken per month, and 700,000 eggs per day.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Revenue:<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF only had one operating segment and only operated
in Malaysia. Below is the revenue and operating margin of PWF.<o:p></o:p></span></div>
</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFmn_Z3uBioR3MlULVsZx7djYSL-TNwo8zKgjhFlR1n3vi72StKS7Qx8tvMQdCgUEQbspg0BBdmlQqmG-kJ6qE8p-G7JKbN_bTuORr_mqcb2UuUY-nZVXN8E97ruVDJ-EzwzctTLXwp6EY/s1600/revenue.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="163" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFmn_Z3uBioR3MlULVsZx7djYSL-TNwo8zKgjhFlR1n3vi72StKS7Qx8tvMQdCgUEQbspg0BBdmlQqmG-kJ6qE8p-G7JKbN_bTuORr_mqcb2UuUY-nZVXN8E97ruVDJ-EzwzctTLXwp6EY/s400/revenue.png" width="400" /></a></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">5 Years Annualise Growth of Revenue<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">6.30 %<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">9 Years Annualise Growth of Revenue<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">3.94 %<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
</span><br />
<div class="MsoNormal">
<br /></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;">
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">In 2012, PWF operating margin had drop to the lowest
over the past 10 years at 2.3 %. This is due to oversupply of broiler in the
Malaysia market and increase of commodity price, soya and corn, the main
ingredient for poultry feed.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Nett
Profit<o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Bar Chart below shows PWF nett profit from 2010 –
2018.<o:p></o:p></span></div>
</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgenb5UBfjRGyZyGy8tWmOhgM8SLwH4sl5RBqljA0h9jBn6X1EfQfXWZq4HPwW8E4gr98Kpyqa715mQDZdm5hMtOMAwTuBgtuSN0VF-zK4W0oU7xhzzIPXJeaV595bCd5AXf16HbUsvPDFr/s1600/nett+profit.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="163" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgenb5UBfjRGyZyGy8tWmOhgM8SLwH4sl5RBqljA0h9jBn6X1EfQfXWZq4HPwW8E4gr98Kpyqa715mQDZdm5hMtOMAwTuBgtuSN0VF-zK4W0oU7xhzzIPXJeaV595bCd5AXf16HbUsvPDFr/s400/nett+profit.png" width="400" /></a></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"><br /></span>
<span style="font-size: large; line-height: 27.6px;"><table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; font-family: arial, helvetica, sans-serif;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">5 Years Annualise Growth of Nett
Profit<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">18.83 %<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 352.7pt;" valign="top" width="470">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">9 Years Annualise Growth of Nett
Profit<o:p></o:p></span></b></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.4pt;" valign="top" width="146">
<div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">20.58 %<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
</span><br />
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<br /></div>
<span style="font-size: large; line-height: 27.6px;">
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">From 2010 to 2012 PWF had done a corporate
restructure and report discontinue of operation in the annual report which
cause the significant low nett profit.<o:p></o:p></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">The discontinue operation are mainly from the acquisition
of companies from 2004 to 2008 by PWF. Some of companies acquired by PWF over
the year are Nayang Prosper Sdn Bhd, Liang Hwa Farm Sdn Bhd, Evergreen Breeding
Farm Sdn Bhd, Din-Hin Farm Sdn Bhd, Lean<span style="mso-spacerun: yes;">
</span>Hong Duckfeed Sdn Bhd.<o:p></o:p></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">In 28 March 2013 three subsidiaries had wind up:</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">1) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Everay
Agritect Sdn Bhd</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">2) PW
Tyres & Auto Service formerly known as Gold Star Tyre Mart Sdn Bhd which is
a subsidiaries of Liang Hwa Farms Sdn Bhd.</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">3) PW
Breeder (Taiping) Sdn Bhd formerly known as Evergreen Breeding Farm Sdn Bhd.</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Other subsidiary wind up over the year are:</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">1) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">In
2019 Pin Wee Food Processing Sdn Bhd</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">2) In
2019 Pin Wee Chicken Trading Sdn Bhd formerly know as PinWee Food Industries
(KL) Sdn Bhd</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">3) In
2017 PW Nutri Processing Sdn Bhd formerly known as Di Hin Chicken Processing
Farms Sdn Bhd</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">4) In
2015 PW Properties Sdn Bhd formerly known as Liang Hwa Farms Sdn Bhd</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">There is a spike in 2017 revenue was mainly due to
revaluation of non current asset with a revaluation surplus of RM 61,288,579.<o:p></o:p></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Assets
and Liabilities<o:p></o:p></span></u></b></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRUyAgFhgDNXtOxwqpVRaig8M35lU0-AsbpiWgstD-rUBd1kwRGrkeOLjgZD4b0mTseI6ew-ncASBn2uHwragQV-MsoZo_ZvVdcTn-C1Hy6Y2mFeLcc8OWcFhb-Tp2PMmr_ijgfKx4MNEs/s1600/asset.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="163" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRUyAgFhgDNXtOxwqpVRaig8M35lU0-AsbpiWgstD-rUBd1kwRGrkeOLjgZD4b0mTseI6ew-ncASBn2uHwragQV-MsoZo_ZvVdcTn-C1Hy6Y2mFeLcc8OWcFhb-Tp2PMmr_ijgfKx4MNEs/s400/asset.png" width="400" /></a></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Although PWF undergo restructure from 2010 to 2012
the asset value of the companies is maintain and PWF manage to reduce the
liability and hence the debt ratio of thought out the period. PWF manage to
grow their asset value over time while maintaining the liabilities. Most asset
value gain are mainly through revaluation of non current asset<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
</span><br />
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 231.05pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Year<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 231.05pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Revaluation Surplus (RM)<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 231.05pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">2017<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 231.05pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">61,288,597<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 231.05pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">2012<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 231.05pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">89,800,000<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="font-family: arial, helvetica, sans-serif;">
</div>
<div class="MsoNormal">
<b><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Trade
Receivables<o:p></o:p></span></u></b></div>
<span style="font-size: large; line-height: 27.6px;"><br /></span>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiadCgqfQ-TZ53-5ckOFwOSecOTqcBNAMZzqyqg0lQMMpqOVZU-eFXDe3s2sFkdXtxjhe3iUoqgAuVptsujMzmn6jztM-xZ2YBV467ngLBKawHzk9T9GusRcTOuT79rIwdvG4EuDZU2_xm/s1600/trade+receivable.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="603" height="163" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiadCgqfQ-TZ53-5ckOFwOSecOTqcBNAMZzqyqg0lQMMpqOVZU-eFXDe3s2sFkdXtxjhe3iUoqgAuVptsujMzmn6jztM-xZ2YBV467ngLBKawHzk9T9GusRcTOuT79rIwdvG4EuDZU2_xm/s400/trade+receivable.png" width="400" /></a></div>
<span style="font-size: large; line-height: 27.6px;"><br /></span>
<span style="line-height: 27.6px;"></span><br />
<div class="MsoNormal" style="font-size: x-large;">
<span style="line-height: 27.6px;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">After 2012, PWF trade receivable past due had decrease
to around 30 %.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="font-size: x-large;">
<span style="line-height: 27.6px;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></span></div>
<span style="line-height: 27.6px;">
<div class="MsoNormal" style="font-size: x-large;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Financial
Ratio<o:p></o:p></span></u></b></div>
<div class="MsoNormal" style="font-size: x-large;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal" style="font-size: x-large;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">There would be few financial ratios to be look at
here:</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="line-height: 115%; text-indent: -18pt;"><span style="font-size: 24px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"><span style="font-family: Times New Roman, serif;">1) </span></span><span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Interest
Coverage Ratio (Green Bar Chart)</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">2) Cash
Ratio (Blue Line Chart)</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="line-height: 115%; text-indent: -18pt;"><span style="font-size: 24px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"><span style="font-family: Times New Roman, serif;">3) </span></span><span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Current
Ratio (Red Line Chart)</span></div>
</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_X1WMs7iXOvMOaKlD2EQyygt04eQwlSwfxO7Rdxs3WHGFFL-VDD4p2jSpeBKl8hOUlzEfbSnM2IlWbcprqm8JusFaXWVt8x1aUxs67ituKDLZ7K2m3i8KLU7GglXbeGX5nb4IUtdkn1pf/s1600/financial+ratio.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="281" data-original-width="603" height="186" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_X1WMs7iXOvMOaKlD2EQyygt04eQwlSwfxO7Rdxs3WHGFFL-VDD4p2jSpeBKl8hOUlzEfbSnM2IlWbcprqm8JusFaXWVt8x1aUxs67ituKDLZ7K2m3i8KLU7GglXbeGX5nb4IUtdkn1pf/s400/financial+ratio.png" width="400" /></a></div>
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span>
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">1) Interest
Coverage Ratio</span><br />
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span>
<span style="line-height: 27.6px;">
</span><br />
<div class="MsoListParagraphCxSpMiddle">
<span style="line-height: 27.6px;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Interest coverage ratio measure how
capable the company pay off the existing debt. With an interest coverage ratio
above one mean the earnings before interest & tax (EBIT) is able to pay of
the full amount of the financial cost of the year. <o:p></o:p></span></span></div>
<span style="line-height: 27.6px;">
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Despite lower EBIT in the recent
year, PWF had maintain interest coverage ratio above one after 2012 and
recently had increase the interest coverage ratio to 4 in 2018.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">2) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Cash
Ratio</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">As cash is the most liquid assets
of the company, cash ratio is use to determine company ability to pay off short
term liabilities using cash. Cash ratio above one indicates that company able
to settle all current liabilities using available cash.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF had low cash ratio less than
0.10. PWF operate in low cash reserve as most reserve is use for expandsion as
a few acquisitions and investment in properties had done over the period.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">3) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Current
Ratio</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Current ratio measures ability of
the company to pay off short term obligation (current liabilities). Current
ratio above one means the company able to pay off the current liabilities with
current asset.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF current ratio is maintain
around 0.9 which is 10% below one. Despite low cash ratio, PWF had substantial
amount of current asset to have a current ratio about 0.9.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Turnover in Days<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Let
look into three types of turn over as follow:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">1) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Inventory
Turnover (Blue Line)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">2) Trade
Receivables Turnover (Red Line)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">3) Trade
Payable Turnover (Green Line)</span></div>
</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfaR_q89OLUhSuSOk5fAI6AyzUkkION0jrMUR28luTt82txf_fOX8Hdm_1HjBi5nByecaI-k3cl5TB0CejUlHOJiL0L0iWQArEmE1XvYQhMPNtdbBJqMEZlc_Fk9mVlALrsn7Lp-epNWYL/s1600/Turnover.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="212" data-original-width="603" height="140" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfaR_q89OLUhSuSOk5fAI6AyzUkkION0jrMUR28luTt82txf_fOX8Hdm_1HjBi5nByecaI-k3cl5TB0CejUlHOJiL0L0iWQArEmE1XvYQhMPNtdbBJqMEZlc_Fk9mVlALrsn7Lp-epNWYL/s400/Turnover.png" width="400" /></a></div>
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span>
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">1) Days
Sales of Inventory</span><br />
<span style="line-height: 27.6px;">
</span><br />
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<span style="line-height: 27.6px;">
<div class="MsoListParagraphCxSpMiddle">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">9
Years Days Sales of Inventory Median (days) – 75<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF days of sales of inventory had
drop significantly from 100 days to 40 days. This mean PWF manage to sell their
inventories faster in 2018 compared to 2010.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">2) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Trade
Receivable Turnover (Days)</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">9
Years Trade Receivable Turnover (Days) – 30<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF trade receivable turnover is
quite constant at around 30 days.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">3) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Trade
Payable Turnover (Days)</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">9
Years Trade Payable Turnover (Days) – 30<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">After 2014 PWF to maintain it trade
payable turnover above the receivable turnover. This indicated PWF manage
collect money from its receivable and use the money to paid its payable<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Per Share Analysis<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF
per share analysis is adjusted to 2:1 split in 11 July 2016<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">1) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Earnings
per share (sen) (Blue Bar)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">2) Dividend
per share (sen) (Red Bar)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">3) Net
total assets per share (Green Line)</span></div>
</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFQzk-XAt_KCni-uv6Dt225PHo3Tyfqcxx_099mwOgMhBR9KfVZSaMwNllA3xnmk5DpYdNpzw9EYSQIvXqsF2SOQUYaTK8xDeqPRfKIxv2gubC4qJJBcnqXR9msUhaT-uPtUIeFU-NfGtB/s1600/per+share.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="349" data-original-width="603" height="231" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFQzk-XAt_KCni-uv6Dt225PHo3Tyfqcxx_099mwOgMhBR9KfVZSaMwNllA3xnmk5DpYdNpzw9EYSQIvXqsF2SOQUYaTK8xDeqPRfKIxv2gubC4qJJBcnqXR9msUhaT-uPtUIeFU-NfGtB/s400/per+share.png" width="400" /></a></div>
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;"><br /></span>
<span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">1) Earnings
per share</span><br />
<span style="line-height: 27.6px;">
</span><br />
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<span style="line-height: 27.6px;">
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF had inconsistent earning per
share. This is mainly due to disposal of non current asset and revaluation of
non current asset.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">In 2015 there is a drop in Earning
per share because in 2015 ESOS is introduce and dilute the share outstanding.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="line-height: 115%; text-indent: -18pt;"><span style="font-size: 24px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"><span style="font-family: Times New Roman, serif;">2) </span></span><span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; line-height: 115%; text-indent: -18pt;">Dividends
per share</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWF did not give out dividend consistently.
After 2015 there is a consistent annual dividend pay-out however the dividend
payment amount is varies.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-size: 18pt; text-indent: -18pt;"><span style="font-family: Times New Roman, serif;">3) </span></span><span style="font-family: "Times New Roman", serif; font-size: 18pt; text-indent: -18pt;">Net
total assets per share</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="font-family: "Times New Roman", serif; font-size: 18pt;">There is a significant
drop in net total assets per share in 2015 because ESOS is introduce and
diluted the share outstanding. Share outstanding in 2014 after adjustment is
118,116,128 while in 2015 the share outstanding increase to 143,287,548 which
is 21 % increase.</span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Director’s Remuneration<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Some
company paid high remuneration to director despite low profit. Let see how much
is PWS director’s remuneration in comparison to staff fee and operating profit.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaJ5hUlzSfad20WKSc1V1D9RhH-00v01y23sh3GxcI5pLIMH3IlJlYFbmoGgUDojrGT8ryfQYjheNXKeLC3x2f08GLYHZL16E6kmo3apwj6Xg-w0xOGbnXQKQIhB2d85GP5-He2Kr-Roc8/s1600/director+remuneration.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="212" data-original-width="603" height="140" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaJ5hUlzSfad20WKSc1V1D9RhH-00v01y23sh3GxcI5pLIMH3IlJlYFbmoGgUDojrGT8ryfQYjheNXKeLC3x2f08GLYHZL16E6kmo3apwj6Xg-w0xOGbnXQKQIhB2d85GP5-He2Kr-Roc8/s400/director+remuneration.png" width="400" /></a></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">On
average PWF director remuneration is around 12.30 % of the total salaries
expenses.<o:p></o:p></span></div>
</span><br />
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Except
2012 where the operation profit is low, PWF director remuneration around 14 %
of the operating profit.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">ESOS and Warrant<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">As
of 31<sup>st</sup> December 2018 the ESOS are as follows:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">ESOS<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Exercise Price<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Balance<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">I<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">0.575<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">656,000<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">II<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">0.62<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">100,000<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">III<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">0.96<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">1,600,000<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.0pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">IV<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">0.81<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">3,325,000<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">On
13<sup>th</sup> April 2016, three free warrants is issued to every ten ordinary
shares. As of 31<sup>st</sup> December 2018 the warrant details as follows:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.5pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Warrant<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.5pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Exercised
Price<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.55pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Expiring Date<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.55pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">Balance<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.5pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">2016/2021<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.5pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">0.62<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.55pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">20<sup>th</sup> July 2021<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 115.55pt;" valign="top" width="154">
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt;">43,807,863<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<b><u><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">Material Ligation<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">On
28 November 2017, PWF subsidiaries PW
NutriEgg Sdn Bhd (PWNSB) had commerce legal proceedings against Dehias holding
Sdn Bhd (Dehias) on refund of the RM 7,148,087 paid to Dehias for a
bumiputraland which unable to registered under the name of PWNSB. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">PWNSB
also commerce legal procedures against Ong Teik Beng (“OTB”) for the refund of
breakage fee of RM 1,429,790 which they withdraw later on 5<sup>th</sup>
November 2018.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">The
land purchase had cause PWNSB RM 8,577,877 which unable to transfer name of the
company. RM 7,148,087 which is still under the book under other receivable as
of 31th December 2018.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; line-height: 115%;">
</span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 0cm; mso-add-space: auto;">
<br /></div>
<div style="margin: 0px;">
<span style="line-height: 24.5333px;"><span style="color: #0000ee; font-family: "arial" , "helvetica" , sans-serif; font-size: large; font-weight: 700;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html">Summary of Stock Reviews</a></span></span></div>
<div class="MsoNormal" style="text-align: start;">
</div>
<div class="MsoNormal" style="text-align: start;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"></span></div>
<div class="MsoListParagraph" style="margin-left: 0cm; mso-add-space: auto;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large; line-height: 27.6px;"></span></span></div>
<div style="text-align: start;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><span style="text-align: justify;"><br /></span><span style="text-align: justify;"></span><span style="text-align: justify;"><a href="https://ivkls.blogspot.com/p/blog-page.html"><b>Summary of Industry Comparison</b></a></span></span></div>
<span style="line-height: 27.6px;"><br /></span></div>
</div>
IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0tag:blogger.com,1999:blog-568865846992321356.post-40247660856342520322020-05-25T23:54:00.000-07:002020-05-26T01:11:01.899-07:00Industry Comparison – Palm Oil Part IV<br />
<div class="MsoNormalCxSpFirst">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Sector<span style="mso-tab-count: 2;"> </span>: </span></b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Plantation<b style="mso-bidi-font-weight: normal;"><o:p></o:p></b></span></div>
<div class="MsoNormalCxSpMiddle">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Sub
Sector <span style="mso-tab-count: 1;"> </span>:</span></b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">
Plantation<o:p></o:p></span></div>
<br />
<br />
<div class="MsoNormalCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 16pt; line-height: 24.5333px;"><a href="https://ivkls.blogspot.com/2020/05/industry-comparison-palm-oil-part-1.html">Part I – Top 10 palm oil companies interm of 2018 revenue</a></span></div>
<div class="MsoNormalCxSpMiddle">
<a href="https://ivkls.blogspot.com/2020/05/industry-comparison-palm-oil-part-ii.html" style="font-family: "Times New Roman", serif; font-size: 16pt;">Part II –11 – 20 palm oil companies interm of 2018 revenue</a></div>
<div class="MsoNormalCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 16pt; line-height: 24.5333px;"><a href="https://ivkls.blogspot.com/2020/05/industry-comparison-palm-oil-part-iii.html">Part III – 21 – 30 palm oil companies in term of 2018 revenue</a><o:p></o:p></span></div>
<div class="MsoNormalCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 16pt; line-height: 24.5333px;">Part IV – Summary of comparison based on 2018</span><br />
<span style="font-family: "times new roman" , "serif"; font-size: 16pt; line-height: 24.5333px;"><br /></span>
<br />
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">In summary a point is given to each company to
evaluate each company competitiveness, operational and sustainability. Points
given are as follows:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<u><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Competitiveness<o:p></o:p></span></u></div>
<div class="MsoNormal">
<u><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></u></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Criteria<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Point<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Greater
than 10 % Market Shares<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">5<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">8.01
% - 10.00 % Market shares<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">4<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">6.01
% - 8.00 % Market shares <o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">3<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">3.01
% - 6.00 % Market shares <o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">2<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">1.00
% - 3.00 % Market shares <o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">1<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Less
than 1%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<u><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Operational<o:p></o:p></span></u></div>
<div class="MsoNormal">
<u><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></u></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Operation Margin for the top 30 oil palm company had
a median of 10.18 %<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Criteria<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Point<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Greater
than 15.00 Operating Margin<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">5<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">12.00
– 15.00 Operating Margin<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">4<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">8.01
– 12.00 Operating Margin <o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">3<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">5.01
– 8.00 Operating Margin <o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">2<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">1.00
– 5.00 Operating Margin <o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">1<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0.00
– 1.00 Operating Margin<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Less
than 0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Disqualified<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<u><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Sustainability<o:p></o:p></span></u></div>
<div class="MsoNormal">
<u><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></u></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Criteria<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Point<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">No
Financial Cost<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">2<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Greater
than 5 Interest Coverage Ratio<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">1<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Less
than 5 Interest Coverage Ratio<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">Average Debt ratio for top 30 oil palm companies in
Malaysia is 0.37<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Criteria<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Point<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Less
than 0.30<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">3<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0.31
– 0.40<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">2<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0.41
– 0.50<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">1<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 359.8pt;" valign="top" width="480"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; tab-stops: 240.0pt;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">Greater
than 0.50<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt;">0<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormalCxSpMiddle">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-table-layout-alt: fixed; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif";">COMPANY<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif";">Competitiveness<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif";">Operational<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif";">Sustainability<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "times new roman" , "serif";">Total<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="background: #92D050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">SIMEPLT<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">(5285)<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">12<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">FGV<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5222)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="background: #92D050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">BKAWAN<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">(1899)<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">10<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="background: #92D050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">IOICORP<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">(1961)<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">11<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">KLK<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(2445)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">9<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">SOP<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5126)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">BLDPLNT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5069)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">GENP<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(2291)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">7<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="background: #92D050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">UTDPLT<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">(2089)<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">10<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">KMLOONG<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5027)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">9<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">TSH<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(9059)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">6<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">KWANTAS<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(6572)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">IJMPLNT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(2216)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">7<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">BPLANT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5254)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">TAANN<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5012)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">9<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">THPLANT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5112)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">KRETAM<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(1996)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">JTIASA<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(4383)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">HSPLANT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5138)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">8<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="background: #92D050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">FAREAST<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">(5029)<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">10<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">RSAWIT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5113)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">MHC<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5026)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">6<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">SWKPLNT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5135)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">UMCCA<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(2593)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">7<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">CEPAT<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(8982)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">NPC<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(5047)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">TDM<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(2054)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">DIS<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">HARNLEN<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(7501)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="background: #92D050; border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">CHINTEK<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="font-family: "times new roman" , "serif";">(1929)<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></b></div>
</td>
<td style="background: #92D050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="font-family: "times new roman" , "serif";">10<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 90.45pt;" valign="top" width="121"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">INNO<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "times new roman" , "serif";">(6262)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 4.0cm;" valign="top" width="151"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">0<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 3.0cm;" valign="top" width="113"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 73.95pt;" valign="top" width="99"><div align="right" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<span style="font-family: "times new roman" , "serif";">9<span style="font-size: 14pt;"><o:p></o:p></span></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormalCxSpMiddle">
<br /></div>
<span style="font-family: "times new roman" , "serif"; font-size: 16pt; line-height: 24.5333px;">
<span style="font-family: "times new roman" , "serif"; font-size: 16.0pt; line-height: 115%;">From the evaluation above,
SIMEPLT (12 points), BKAWAN (10 points), IOICORP (11 Points), UTDPLNT (10
points), FAREAST (10 points), CHINTEK (10 points) </span></span><span style="font-family: "times new roman" , serif; font-size: 16pt;"> </span><span style="font-family: "times new roman" , serif; font-size: 16pt;">is worth
for further evaluation.</span><br />
<span style="font-family: "times new roman" , serif; font-size: 16pt;"><br /></span>
<br />
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: large; line-height: 27.6px;"><a href="https://ivkls.blogspot.com/p/summary-of-stock-review.html" style="font-family: "times new roman", serif; font-weight: 700; text-align: justify;">Summary of Stock Reviews</a></span></div>
<div class="MsoNormalCxSpMiddle">
<span style="font-family: "times new roman" , "serif"; font-size: 16pt; line-height: 24.5333px;"></span></div>
<span style="font-size: large;"><span style="text-align: justify;"><br /></span><span style="text-align: justify;"></span><span style="text-align: justify;"><span style="font-family: "times new roman" , serif;"><a href="https://ivkls.blogspot.com/p/blog-page.html"><b>Summary of Industry Comparison</b></a></span></span></span></div>
IVKLSEhttp://www.blogger.com/profile/11285919501244722538noreply@blogger.com0