a note of caution, page-12

March09 the data on page 63 & 64 is clearly based on different categorisation! Page 63 is "based on geographical segments" & page 64 is "based on business segments"

That is on page 63 we can see that 99% of all revenue comes from entity Nexbis Sdn Bhd or similar.

On page 64 we can see for example that 94% of revenue came from Chinese tank contract. In respect to this latter matter Foresight Securities has this interpretation & in small part inferred by NBS in its announcement 1/10/09.

Regarding the loan to other entity some have made much of this. In fact on the face of it it looks like a performance bond in respect to the Chinese Contract. This is not an unusual business/contract requirement. The prelim report on page 10 has a note & it logically can only refer to the loan to other entity, ... "This is a bond UDS $5,000,000 issued by CITP Holdings Hong Kong Ltd repayable in 5 years" (ie repayable at end of contract ... provided of course NBS has delivered on their contractual obligations! If you/someone wants to investigate this you can start by doing a search CITP Holdings in Hong Kong Coy registry for a few dollars (onlineservice).