Ramba

Ramba: FY12 Revenues up 10.6% to $72m, earnings declined 13.3% to a loss of $7.6m; NAV per share at $0.2115; The Group has evolved from a primarily logistics business into a diversified company with distinct segments ; (a) oil and gas , (b) logistics and (c ) commercial real estate. The Group is confident that oil and gas will remain the mainstay of the Group's business, given the importance of the oil and gas industry and how it plays a key role in driving the global economy. The logistics business in Singapore is challenging due to the slow down in the global economy, and rising costs such as manpower and vehicle running costs, including diesel price and parking charges. The Group did note that the oil and gas fields are in the exploration phase of their development, and that the Group expects to continue incurring high capital costs to fund the necessary exploration activities.