Ann: Singapore Government Provides Financial and , page-4

re: Ann: Singapore Government Provides Financ...
Kosenar,

There is really is a significant amount of information on the Singapharm fractionation facility and the enormous potential in the S-E Asian region. Some of this is in very early stages of development so that all is not yet precisely defined, e.g. serious discussions were held with the Director General of Health of Malaysia who offered the 'waste' plasma to NSP free of charge. United Laboratories in the Philippines are keen to provide support in Singapore with expectation of access to processed plasma.

Much of this cannot be said in formal ASX announcements but the anecdotes given at the last few meeting demonstrate progress and consolidation. A$2M has now been spent and another A$2M is needed (present SPO) to bring NSP the desired equity in Singapharm. This is now expected to reach 60% and keeps NSP in control.

The detail of the Singapore Gov't's financial and economic support will not be made public at S G's insistence because of the precedence that might set. However, the details are broadly that a S$1M soft loan will be available to NSP, as well as tax relief (no tax payable, for how long?), specialist training will be provided at Gov't expense, etc.

The issue of salary reductions is a difficult one as it would require a colossal campaign to get through and this is time we don't have.

[Aside] Apparently 'non appropriately utilised blood plasma' is the more acceptable form of terminology to be used when in the presence of very senior officials, departmental heads and politicians, after all we never 'waste' anything, do we, even if we pour it down the drain.

After attending several meetings the detail of establishing the niche separations facility in Singapore become much clearer. NSP is in a unique position to cater for the surrounding markets. It will take time to pass the regulatory frameworks but they are safety mechanisms.

I will be taking up shares in the SPO.

Juke