Notes taken as i read the AR. Three months Ended 31 Dec 2014 QvQ Comparison

• Revenue : 11% gains. 400k more profit than 2013. A nice 1.43 cents EPS from 1.32 on the backdrop of lower YoY. Do note that the full year revenue reduction actually comes from both Singapore and Malaysia geographical segments. A nice surprise that this Q beats prior year.

• Rental : Increased about 500K. A major cost on profitability.

• Operation: Stable inventory level and operation cash flow. Some capex investment noticeable.

• Management: Propose dividend of 1.25 cents. There's indication management is well grasp of the business climate and trying to innovate.

At 46 cents price level, that's more than 9% earning. Based on 2.35 cent full year dividends, 5.1% dividend yield. Local Stores are pretty numerous now and oversea expansion did not work well. I do not have the indication that ......