Thanks, doing ok but still in a submarine.Just to add to your 3...

Like you @vango, I had sold some other "dead wood" and plough the proceed into FLC at 16.5 -17.5c in the last couple of months. And similarly, still under water. I am now just too overweight here and hoping to breath a bit easier soon.

I had observed in the last 2 mornings before market opens, there was a presence of a hidden buyer, 108,656 to be exact at 20c this morning. It is nice for a change as in the past, I had noticed bigger funds exiting with hidden sell queue, this is a pleasant change.

Thanks, doing ok but still in a submarine.

Just to add to your 3 points, this is an article from the latest Asia Week Magazine:



"In the face of the economic challenge in 2023, it was rumored that the central government said, "Whoever is not dedicated to revitalizing the economy will step down!", and issued death orders and death indicators to Li Qiang's new team. The authorities turned over the previously suppressed Internet platform, education and training industry and real estate. Some policies are almost 180 degrees. Turn around. All parties expect "retaliatory growth" this year. The international investment bank predicts a growth rate of about 5%, and the Ministry of Finance estimates that it will be about 6%. The future variables are new infrastructure, innovation ability and population aging. Real estate is difficult to warm up in the short term, and systemic risks should be prevented."

Richard in the last 2 years had mentioned about the troublesome quarantine restrictions and lockdowns that had affected our sales teams, and the deliveries in China. I think it would be a similar situations like what we had experienced in the last one year of "living with Covid" around the world, there will still be hospitalizations, deaths from Covid etc, but it would be difficult to re-implement lockdowns and quarantine restrictions.It would be more in the direction of relaxing towards pre-Covid normality. So I think it would be more likely that our backlog from the last couple of years will be a major contributor to our revenue this year.

While we wait for our USA teams to convert some calls to sales, which the earliest could come in the next 4 to10 months, the half year of Ivory Coast contribution, the China backlog, South East Asian and South American contributions would be the main contributors this year. And yes, the recurring side of business is getting a bit higher too.