now there are sixteen new offices in malaysia, page-8

NBS has had many chances.

it had its chance at ETC with Dykes.
The it had its chance with the Chinese gas tank "deal"
As well as the malaysian "deal"
The maldives "deal"
The vietnamese "deal"
The Trustdefender "deal"

it has had nearly 3 years to put away one of these "deals".
NBS even booked revenue of tens of millions and wrote them off because the "deal" didn't deliver.

There is no way to rationally justify this company's current market cap.

Given it's history, a PE of 8 would be very generous.
At current market cap of 77m, it would need over 9m in profit to justify this price level.

NBS has never delivered a profit of 1m without writing it off it in subsequent quarters. How on earth will they make a profit of 9m?!