MAH BOW TAN

MAH BOW TAN

Non-Executive Chairman and Independent Director

CHAIRMAN'S MESSAGE

Diversification and Transformation

DEAR SHAREHOLDERS,

Global Yellow Pages Limited (“GYP”) is in the midst of a major strategic transformation to add value to our customers and shareholders by diversifying into new businesses. In addition to our core comprehensive search products, we have expanded our business offerings to stay relevant in the competitive business environment. By diversifying into food and beverage, and real estate, the company is poised to grow in strength and depth.

Building on Strengths: Core Print and Digital Products

Our traditional core business of search print directories is facing challenging times. Our overseas trade directories has been rebranded to Singapore Information Services – a more illustrative name – with their covers redesigned and sizes standardised to provide a cohesive identity across all four books.

On the digital front, we are constantly upgrading and refining our online search directories, and our online portals have been given a fresh new look. Our Internet Yellow Pages® (www.yellowpages.com.sg) recently underwent a major revamp with a new look and enhanced functionality, making it easier to navigate and more user-friendly. Aiming to serve social, commercial and industrial needs, users can easily search for products and services in a particular location or businesses within a specific area. Meanwhile, the online portal of the Singapore Information Services (www.insis.com) overseas trade directories and the Singapore Infocomm Guide (www.infocommguide.com) debuted their brand new look complete with new features and an improved directory search performance. The websites complements the print directories by incorporating social media, news feeds, a consolidated calendar of events and industry news and relevant industry awards. Furthermore, the revamped sites are mobile-friendly and can be viewed anywhere, anytime and on any device.

We are continually improving our print and online products to stay relevant and ahead in this ever-evolving business environment.

Diversifying into New Industries

GYP’s strategy to diversify into the property and food and beverage sectors is gaining traction. Having seen the potential for long term growth in the real estate industry, GYP has recently successfully acquired Pakuranga Plaza, comprising development land and a shopping mall. The property, with a total land area of 39.2 hectares, is freehold and located in the centre of the fast-growing suburb of Pakuranga, Auckland, New Zealand. It provides retail and office space to over 100 tenants including major departmental stores and supermarkets and comprises a shopping mall, an outdoor Warehouse Plaza and a Plaza Business Centre. The property holds significant potential for future development opportunities and plans are underway to maximise this potential.

GYP also made further inroads into the food and beverage industry. The group has successfully completed the A$10 million acquisition of intellectual property rights for the Wendy’s Supa Sundaes brand, a well-established and iconic brand of ice cream and treats with over 150 stores across Australia and New Zealand. GYP aims to review each of these businesses on an on-going basis to see how they can add value to the company.

Next Steps

It is undeniable that the business environment remains tough and GYP will continue to face challenges along the way as we transform and diversify our business. However, I am confident that we will overcome them. This year, as we move forward with our bid to expand into other areas, we will also look into strengthening and refining our core business.

I would like to thank you, our shareholders, for your unwavering support throughout the years and commend our dedicated staff for their hard work and contributions. I would also like to extend my sincerest gratitude to my board members for their staunch support and dedication.

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