Hi All,I spoke with Mr. Teng this morning and found him to be...

Hi All,

I spoke with Mr. Teng this morning and found him to be very clear and forthright in his views regarding the Company and SP.

It has emboldened my belief that the Company is headed in the direction, and that, in his words, "we know for a fact that ICP is now on the radar of institutional/sophisticated investors, all we can do is keep building profits and improving the business model, which is what we're doing."

He seemed to be aware of a seller/s exiting, a holder/s who had voiced that he/she doesn't share the international view of the directors.

Assuringly, he is acutely aware of the need to tighten up the registry by bringing on board larger shareholders, and the company believes the continual growth of the bottom line will achieve that objective.

He doesn't believe there is much value in chasing the "deployer contract model" in Australia. Margins are too small and too many players, of which he believes rationalization will see the smaller fries eliminated over the course of next 18 months or so. He knows of competitors "buying" contracts with no profitability attached to them, just so they can announce a win.

To borrow Tony's metaphor in regards to current and future SP: "Management is focussed on building the airplane. It doesn't matter how big or cargo ladened the plane is, if the physics are right, at the right speed it has to take off."

I know that's more poetry than substance, but when you examine what the Company has achieved from being nothing more than a business plan in 2006 with little or no revenues, to being significantly profitable with low debt structures today, then the metaphor fits.

He did say there were exciting product/technology developments they believe will be ready to tell the market in early new year. Obviously, no details were provided. Just that they're working on expanding the products base of the business, and that these products will help them open new international markets.

Merry Christmas.