Ann: Business and earnings update, page-8

Crazy day (right or wrong), 

From the high of $6.24 4/5 months ago to 3.05 closing price today ( after hitting  52 week low of $2.83 in the morning and closed below the price the company announced MAS aqusitaion last year).

- Mc $450 Mil after strapping cash on hand , gives it a  Pe of 9 ( base on US$36 million or AU$50 million EBIDTA) so it is very cheap compared to others in the financial industry and compared to others in the market on general

- Although the company profit projection is slightly better for 18/19  US$36 Vs US34 , the AU$ Depreciation  last year  makes it better value and give it AU$22.37 cents dividends or 7.33% yield.

- MAS FUM going to integrate and generate profit the following year 

- FUM should be around the 14.5-15.5 Billion US$ IMO or around AU$21 billion so it’s still more than double than last year when all the MAS transition began 

- interesting to see some of the brokers reports out as 3 of them had a buy recommendation of PT between $5.5 and $6 just few days after the AGM early December 

IMO the SP is look very attractive and a cheap entry point but only the Big guys will decided the direction of the SP Up or Down in the next few weeks , 

GLTA

we need it