Wellcall Holdings Bhd (Company No: W) (Stock Code: 7231) By : KC Lim 17 th December 2013 Rule #1: Don’t Lose Money and Rule # 2: Don’t forget Rule #1

Investment Principles Margin of Safety Right Management Right Business Model Right Valuation Vs Price Knowing you will make money comes from buying a wonderful business at an attractive price

Business Model Owns 100% of WELLCALL HOSE (M) SDN BHD (Company No: A) PRINCIPAL ACTIVITIES Manufacturing of rubber hose and related products

Economic moat Cost Advantage ◦ Low operating cost and high margins ◦ In house designed and built production equipment. ◦ Lower operational costs (eg. Labour and location) Customers ◦ Has a strong customer base with more than 10 years business relationship ◦ Customers from a total of more than 60 countries ◦ Expanded from 3 to 6 application markets (air and water, welding and gas, oil and fuel, automobile, ship building and food and beverage.)

Right Management Owner-Oriented or Driven…… to change the world in some small or cool way!! DATUK NG PENG NG PENG HAY, D.M.S.M., D.S.M., P.J.K. Age : 60 Nationality : Malaysian Qualification : Malaysian Certificate of Education Occupation : Company Director Position : Independent Non-Executive Chairman Other Directorships of Public Companies : Bonia Corporation Berhad Farm’s Best Berhad Ta Win Holdings Berhad Komarkcorp Berhad ICapital.Biz Berhad The Date He Was First Appointed to the Board : 17 April 2006

Right Management Owner-Oriented or Driven…… to change the world in some small or cool way!! HUANG SHA, PMP Age : 57 Nationality : Taiwanese (Malaysian Permanent Resident) Qualification : Secondary Education, Taiwan Occupation : Company Director Position : Non-Independent Managing Director Other Directorships of Public Companies : Nil The Date He Was First Appointed to the Board : 17 April 2006

Management - Remuneration

Right Valuation Income Statement Magic Numbers Shareholdings Information Earnings Per Share= Largest Shareholder Return On Equity (%)= Largest Shareholder % Gross Profit Margins (%)= CEO Net Profit Margins (%)= Other Notable Shareholders Balance Sheet Magic Numbers Current Ratio= 6.19 Cash Per Share Less Debt ($)=0.31 Cash Ratio= 3.97 Price Earnings Ratio (PE)=19.6 Stock Turnover (Days)= Price Equity Ratio=5.6 Stock Turnover Ratio= 6.98 Price Earnings Growth Ratio=1.3 Debtors (Days)= Share Price Less Cash=3.14 Creditors (Days)= Borrowings / NPAT= 0.00 Margin of Safety=1.51% Borrowings / Operating Cash Flow= 0.00 Gearing= 0.00 Intrinsic Value (IV) $3.18 Valuation Magic Numbers Free Cash Flow ($mil)=639.40Discounted Earnings Model Market Capitalisation ($mil)= Growth Rate15%Risk Free Rate4% Dividend Yield (%)=4.49%Yr *Source Legend Earnings ISIncome Statement (Profit & Loss, Statement of Consolidated Income)Discount Rate BSBalance Sheet Discounted Earnings CFCash Flow Statement Cumulative Earnings