Ann: Proposed Acquisition of Arte Mobile Technology Pte Ltd, page-7

Just running by more numbers on ICU.

FY14 NPAT*: 1.59M
EPS: 2.07cps (i.e. 1.59M/76.747M shares)
P/E: 10.63
PEG: .43**

* apparently no tax liability, so FY14 NPBT=NPAT
** PEG is based on my NPAT growth estimate of 25%. That's a huge growth rate, but seems to be conservative because:
(a) 53% avg NPAT over past 5 years
(b) 26% avg revenue growth over past 5 years
(c) Nov 2014 guidance: "We looking to maintain historical Y-Y growth"

Although these numbers are amazing, be very cautious. Past growth is a difficult predictor for start-ups and micro businesses. Also, ICU's business model has been very good over the past 2-3 years, but several factors cold derail it. Examples include severed relations with a major partner ( Huawei, Public Bank), entry of a global competitor (e.g. Google or Apple payment systems), and/or sudden shift in consumer preferences (entertainment stars/brands).