1) Share price has fallen to the lows last seen in May 2009 – 9 +year low with negative news, more or less well known. It last trades at $2.20 on 26 Dec 2018. Based on Maybank’s report out this month, SIE management has flagged out challenges in their industry approximately two years ago –> on lower maintenance frequency required by newer aircraft and fleet growth at low cost carriers (“LCC”) requiring SIE to think of new solutions to reduce aircraft downtime at hangars;

2) At $2.20, RSI last trades at 11.9. Since 2001, there are only 3 occasions where RSI is lower than now with the lowest RSI at 7.2;

3) Valuations are at 10 year low. With reference to Chart 1 below, SIE trades at 13.1x PE and 1.67x P/BV vis-a-vis 10 year ...