To start with, i have position in this and need to assess my risk level. With the AR just published is time to do a quick review.QvQ Results Rev up 5.1%, Profit 10.1%, FCF 48.7 M (tripled up) FY14 - FCF 333.3 M (~14% Increase) - Finance Expenses $22.6 M Annual Dividend : 20 cents (S$347 M) Borrowing : $687.5 M (~3.29% interests using Finance expenses) Shares : 1,733,188,000 "As at 31 December 2014, the Group’s cash and cash equivalents amounted to S$264.2 million, slightly lower than S$266.9 million a year ago." Thoughts The increase in FCF means they could well afford to pay out the annual 20 cents dividends. In fact higher dividends are within realm of possibility considering the reserve they have. Personally i think management is right to be conservative. This may implied a more stable increment ...  ...