JACKSPEED CORPORATION LIMITED 
By JACKSPEED CORPORATION LIMITED
Registration No. 199300300W (Incorporated in Singapore) (The
"Company")
QUARTERLY UPDATE PURSUANT TO RULE 1313(2) OF THE SGX-ST
LISTING MANUAL
The Company was placed on the watch-list pursuant to Rule
1311 of the SGX-ST Listing Manual on 3 June 2011.
Pursuant to Rule 1313(2) of the SGX-ST Listing Manual, the
Board of Directors of the Company wishes to provide the
following updates relating to the unaudited consolidated
management accounts of the Company and its subsidiaries
(collectively, the "Group") for the first quarter ended 31
May 2012 ("Q1FY2013") as compared to the same period last
year ("Q1FY2012").
The Group recorded a profit after tax of S$53,000 in Q1FY2013
compared to a loss of S$435,000 in Q1FY2012.
The net profit was mainly attributable to the following:
a) A reduction in losses by S$144,000 as a result of disposal
of 2 wholly-owned subsidiaries, Jackson Vehicle (Singapore)
Pte Ltd and Strategic Icon Technologies Pte Ltd, in
Q2FY2012.
b) Legal and professional fees of S$80,000 incurred in
Q1FY2012 in relation to the mandatory cash offer exercise for
the ordinary shares of the Company. There are no such costs
in Q1FY2013.
c) Net profit after tax of S$39,000 contributed by Index
Credit Pte Ltd and its subsidiary (the "Index Group") in
Q1FY2013 as Index Group was only acquired in Q2FY2012.
d) An increase in foreign exchange gain by S$29,000, from a
loss of S$25,000 in
Q1FY2012 to a gain of S$4,000 in Q1FY2013.
e) Cost savings of around S$115,000 from the Group's internal
restructuring exercises to streamline operations.
In Q1FY2013, the Group issued 41,800,000 ordinary shares at
$0.0795 each for general working capital purpose.
The Group will continue its business rationalisation
exercises.
Save for the above, there are no material developments that
may have a significant impact on the financial position of
the Group or any other updates on its future direction.
BY ORDER OF THE BOARD
CHUA SZE CHYI
Joint Company Secretary
10 July 2012
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