Lorenzo

Lorenzo: Company issued a profit warning, as a result of the continued weakening in global demand resulting in poorer export sales; generally weaker consumer demand in core markets that the Company operates; and poor performance of the two factories located in China resulting in the decline in the Group’s revenue. Also, Company terminated the MOU entered into previously dated 3 Oct 2012, where the Company intended to acquire 49% of GPS Alliance Holdings Pte Ltd, with 2 other individuals. The GPS Group is engaged in real estate agency services, corporate leasing services, investment sales, en-bloc sales, Singapore and international project sales, advisory services and home furnishing. Company is now trading at 0.5x P/B, vs peer Cacola Furniture's P/B of 0.2x.