MTQ Corporation

[Musicwhiz]

Still need to monitor the FCF, so far it is kind of -ve due to the early stage of expansion (correct me if i am wrong).

It will probably be so for FY 2011, as they are spending on capex and staff training for the new facility in Bahrain. Take it as a one-off "hit", and FY 2012 and beyond should look smoother.

There is a chance of spillover of expenses into FY 2012 as well, so do take note (depending on timing of Phase II).