There have been changes in management in our Australian operations and we will continue our focus to grow in the Australian and New Zealand markets, via a wider representation of brand and product range.

While I believe that we have become more resilient, we will still need to strengthen our operations further, especially in Australia and New Zealand. I believe that our prudence in our cashflow management will place us in a stronger financial position and facilitate future growth on a sustainable basis
 

Business and Prospects Ahead

Since listing, we have made some progress in new markets though there was a slight setback in 2008 due to the economic crisis.

We will continue our push to become Asia’s premium brand name leading the fashion in Tech savvy products and services. We firmly believe in the fundamentals of getting the right product to the right place at the right time. Asia Pacific is a market that readily embraces new technologies. With the digital convergent of Consumer Electronics and IT that have already happened, I also see the opportunities in the convergent of mobile and IT, which we will be expanding our range of mobile accessories. We have offered the largest breadth of products in the IT industry. Our wide range of peripherals allow us to better serve our customers, as well as mitigate risks associated with the market volatility and reliance upon a small base of products. We continuously refresh our business with new and innovative products from our suppliers, strive to ensure that we will continue to be an essential partner in the future technological innovations. We are focusing and expanding our product range in IT, Apple, Gaming, Consumer Electronics, Mobility, Ecogreen solutions, Fitness and Healthcare digital devices.

With the changes in Australia, we intend to grow the range of brands and products in the Australian markets, followed by the New Zealand markets. We are taking actions to improve our operations and implementing new procedures and controls. We remain committed to improving the Australia and New Zealand business and driving the overall region to greater performance.

The South East Asian markets is also expected to be relatively stable, with new IT gadgets and products expected to be introduce by the global IT companies. These should present a steady flow of opportunities to our business. We intend to work hard to drive sales growth, improve productivity wherever possible, keep a tight hold on costs and remain focused on profit targets. Every step of the way, we do so with a commitment to generate strong returns on invested capital and maximizing total shareholder value.
 

Dividends

As mentioned in previous annual reports, we believe in sharing our profits with our shareholders. We would like to reiterate that with continued prudence management of our cash flow, we will continue to recommend and declare dividends to our shareholders. This year, after taking into consideration our financial position, the Board is pleased to recommend a final dividend of 0.5cent per share. I am also pleased to mention that since listing, we have declared dividends every year.

Appreciation

On behalf of the Board, I would like to offer my thanks and gratitude to all partners of Ban Leong Technologies Ltd, from our dedicated staff, our bankers, business associates, suppliers and customers to of course, our shareholders.

Thank you for your confidence and support in us and I look forward to your continued support.