severely undervalued and new jv

this is so undervalued i think should be worth a lot more than it is ! i think -new JV as pasted below.

next/last 1/4 report should read great with a nice profit increase . with all the new contracts

DULHUNTY IN MALAYSIAN JOINT VENTURE


The Directors of Dulhunty Power Limited (ASX:DUL) are pleased to announce that it
has formed a Joint Venture (JV) in Malaysia through which it will establish a
manufacturing facility to service the local market for transmission system products. The
JV company, Dulhunty Power (M) Sdn Bhd has achieved early success in winning four
contracts with a value of $4.08 million Ringit (approximately A$1.5 million).

The Joint Venture will be formed with a highly experienced local manager who will
manage the day to day operations in Malaysia. Dulhunty Power will own 51% of the JV.

Dulhunty Power’s Managing Director Alfred Chown said,

“In 2006, we won and successfully completed our first contract in Malaysia. The
market for insulators and fittings in Malaysia is worth about $20 million. Therefore this
JV, with a strong local partner, is a logical step for us in targeting further opportunities
in this growing and increasingly significant market.”

The manufacturing facility will be located in Kuala Lumpur and is expected to be
operational by mid-March.

Reflecting the well established reputations of both Dulhunty Power and its local partner
the JV company has been awarded four contracts to supply insulators, fittings and
spacers from transmission systems in Sarawak and Sabah provinces of Malaysia. All of
the contracts will be completed by the end of May 2007.

Mr Chown said ” we are thrilled to have had this early success which bodes well for our
business in Malaysia. As a result of these contracts our Malaysian joint venture is
significantly ahead of its budget for 2007.”

Dulhunty Power expects to release its interim 2007 financial results towards the end of
February 2007.


ALFRED CHOWN
Managing Director