It is hard to predict market sentiment. However, it should be...

It is hard to predict market sentiment. However, it should be noted that today's weighted average sp is around 3.6c.

There was only very limited last minute panic sell at 3.3, 3.2c. At close, there was only one sell order at 3.3c about 32500 shares, if I recall correctly.

Also, it is reasonable to expect directors to buy in large quantities at such price.

hence, those who intend to sell, pls take this into account.

The bottom line is that, it is a going concern with strong liquidity position. All the non-cash writeoffs are most probably the worst we can see for a while (I mean especially VCS, I am not precluding further writedowns on property valuation at 30 June 2009.)

Valad management despite the unprofessional handling of certain things have taken the right measures ahead of many others, such as: non-core asset sale before market gets worse, liquidity position improvement via cancellation of dividend payment, cost cuttings/headcount reduction, etc.

These have helped its earnings position going forward, thereby boosting the banks' confidence in the company.

By and large, I see this as a small victory on the part of the management, after the big mistake they made in acquiring Scarborough Group in June 2007.

Cunning Macabe, we all hate you! Out of conscience, you should make VPG's life a bit easier by deferring payment due. Don't go one step further taking advantage of VPG via the D2E deal. that's unethical and your Karma will work against you later on.