Portfolio Results Update – Favco, Green Packet, Manulife. Success, Stemlfe, Lay Hong, Inari, UMS

Favco – Lower qtr but solid performance for year. PE 5 times with estimated 4% Yield
Green Packet – Narrowed losses and target to launch LTE in 2013
Manulfe – Improved yoy but still fall short to our expectatin
Success – Flat revenue with improved profit, still traded highly undervalued
Stemlfe – Improved revenue with falt pofit growth, still a hold for its industry
Lay Hong – Flat revenue that registered losses – Closely monitor another quarter in 2013
Inari and UMS – We will start monitor these two companies due to its performance and valuation.