Ann: AGM Chairman and CEO Presentation, page-13

Hi Vango and Bridog, Thanks for the summary and useful comments.This was the same presentation that was presented here: Post #: 53294525. Yet the market has not be been cognizant of the merits of this presentation on 21st May when they sold it down yesterday. Today's rather muted response also doesn't bode well in that the market doesn't seem to have caught on.

What was key in the presentation for me was the mention in pages 15-21 of the case studies in China, Philippines, Cambodia, and the Middle East.

The greatest opportunity lies in these emerging markets where there is alignment between the developer, the water regulator and the town planning authority. In Philippines case, the presentation mentioned Ayala (page 16). Ayala is one of the largest conglomerates in the Philippines!

I must say FLC has many significant customers that the market hasn't caught on or realize. It's very difficult to get relationships at these developers and we have them!

Also, there is more alignment between the developer, the water authority and the town planning authority in emerging countries than, say, a developed country such as Australia or Singapore. FLC has greater chance of cracking in with MABR in the former than the latter group.