The S refer to 4 things. Silverlake axis, Singpost, Situation at work and Scolding.

Silverlake and Singpost should see better times ahead. Silverlake recognition of Project services rev will pick up fromQ4 onwards. But the golden Goose of GIT is slayed. It stake is less than 5% now, and the accounting profits already captured in this quarter.

There could be further loss or gain depending on OTC, but overall it’s game over.

So while the core operating no. Might be doing better, it might be offset by the volality of market prices. Also, according to RHB analyst, captured in the edge, the contracts win that will be recognize are small contracts.

I however, beg to differ. Personally, I do not think ICT capex can be deferred for too long before a overhaul. Especially with the recent global malware scare. Of course, competitors made be taking the pie. …