directors buy more, page-23

basically said ...

1. they were surprised by the low Malaysia number and high china number given Malaysian priinting started first.
2. touching base with management revealed Malaysia going slower than expected. Was no specific budget allocaiton and was going to be paid form a general fund which ran out of $$$.
3. expect a resolution in the next few weeks assisted by the chairman.
4. Expect the $25m china invoice to be paid as soon as 60th anniversary holidays are over (8 Oct.). To date the chinese have paid smaller invoices on time.
5. Worst case if Malaysia is cancelled Sapio and China still put the stock on 3x PER but no share price appreciation is expected until the Malaysian issue is resolved.
6. Expect more news soon esp. as AGM coming up.