Global Yellow Pages (“GYP”) stock is one of the stocks which I have been keeping a tab on for the following reasons. Firstly, the business of GYP is in the traditional business of the iconic telephone directories and I am always curious as to how GYP will align its business in today’s modern times of the internet, especially when other traditional information companies like Singtel and Singpost have successfully revamped their business models for the digital era. Secondly, the low stock prices of GYP at just slightly more than four cents a share always appeal to me as I could not but help wondering whether the low price could be a base where GYP could become a multi-bagger from, especially when GYP already has an established business. To answer these questions, it is instrumental to look at the year 2014 annual report of GYP. True to my expectations, GYP seems ......