Hello investor,

Today i went to the AGM. Mr Chua KL, the exceutive board member put it very simple and funny( easy for layman to understand). Leader trials is different from other trial. He says most of the time the trial is against BSX taxus but Bio is daring to take on the best of the best which is Cypher of J&J at that time 3 years back. He used analogy like soccer team. West Ham take on the champion of the champion like Manchestor United. As for the scope of the trial, he used the analogy of basketball game and soccer game. It is easy to scored goals in basketball beacuse of the court size. The scope of the trial for other trials has a lot of  limitation(patient conditions). But for leaders trials, it is real life trial with scope that is bigger than a basketball ball court like the football field. You are absolutely right!

Just checked .. the website had been updated liao ... finally .....

Cheers .....

Thanks AK,

Do update us for any developement if you do attend the AGM .... and do make some noise on the recent dissappointing price movement..... but dun get thrown out .. haha ...

Lastly, maybe you can ask the marketing team to wake up cos the website had not even updated the new CEO name in place ..... si bei chia luck .... like tat oso can overlook .....  ( I dun know if they have updated it but late last month it was not lor ...). If this happened in my current working place, the marketing team head will roll .....

Cheers.

Me vested too ... tats why bui ta han the way they do their IR .... or may be dun have at all.

May Ti Gong bless us all ......

Chief Operating Officer

Singapore, 21 July 2008

“Jack has been one of Biosensors’ most important resources for many years,” commented Mike Kleine, President and Chief Executive Officer of Biosensors. Kleine continued, “Under Jack’s direction, JWMS has become a major factor in the China stent market, as he has been the driving force of that operation since its inception. As we now prepare for accelerated business growth, we need someone of Jack’s capabilities to lead our operations. We also expect that Jack’s product development experience and vision will greatly accelerate the commercialization of our new product pipeline.” Dr. Wang said, “I am very excited at the prospect of increased responsibility at Biosensors. While I will continue to function as CEO of JWMS, we have laid a strong foundation at JWMS over the past several years and I am confident that our China team is capable of continued growth, as I shift a significant portion of my time to Biosensors global operating activities. We also have a great operating team at Biosensors and I look forward to the challenges of the BioMatrix launch.” Prior to joining Biosensors in 2001, Dr. Wang served as Manager in new product development for Johnson & Johnson (Cordis) and as Project Group Leader in stent delivery systems for Guidant Corporation. Dr. Wang has been granted more than 20 US and European patents in medical devices and technology and has published more than 30 scientific papers on polymer materials and processing. Dr. Wang received his doctorate in polymer science from Case Western Reserve University, Cleveland, Masters Degree from Clarkson University, Potsdam and Bachelor of Science degree in Chemistry and Chemical Engineering from Tsinghua University, Beijing.– Biosensors International Group, Ltd. (“Biosensors”, “Company”, Bloomberg: BIG SP), announced the appointment of Dr. Jack Wang as Chief Operating Officer, effective today. Dr. Wang has been involved in Biosensors’ operating activities and product development efforts since 2001, most recently serving as the Chief Executive Officer of JW Medical Systems (“JWMS”), the Company’s China-based joint venture with Shandong Weigao Group Medical Polymer Company Limited. Under his leadership, JWMS became one of the top three providers of drug-eluting stents in China within two years of the launch its Excel drug-eluting stent. Dr. Wang will remain as the senior officer of JWMS and will assume responsibility for all operating activities of Biosensors, including manufacturing, quality and product development.

tomorrow is the AGM, Chairman, Mr Yoh or CEO Mr Mic Kleine may post some lights on the results.

If 2nite DJ swee swee, then 2morrow AK may attend the AGM. Can't expect good goodies or door gifts liao. AK will against issue extra shares, if other share holders also against the resolution.

Buffet lunch should hv lah, as AGM is at 0945am at Marina Mandrin Hotel.

>a. IF Bio performs well in the Leaders' trial, Do you believe that it is a matter of time before Bio is bought over?

 

Linking a trial result to a potential takeover is quite a difficult thing to do. But certainly stunning results, like a clear (TKO) knockout by Biomatrix on Cypher will certainly help the cause. There are certain parameters that the medical fraternity is eying when they choose one stent over another. It is unclear which parameters are the most important but Bengster once posted (maybe about a month ago) about 5 key ones (like MACE, TLR, etc..). So these are the ones that we need to look out to make a judgment on how clear a winner Biomatrix is. It’s like Cristiano Ronaldo banging in 30+ goals and suddenly he is the most sought after player. The results have to be solid and proven. So the same can be said for the Leaders trial. The results must be stunning and must have the potential to knock out any rivals as well. If these ingredients are there, then the potential company that wants to buyout knows it can garner a large market share given that the right amount of marketing and lobbying is done. I mention marketing and lobbying because as we know, BIG is not that big in cash so it has a difficult time marketing to get a larger market share and lobbying as bengster pointed is sometimes clouded with some “kelong issues”. Leaders is a large scale trial and the larger it is the more credible the results are. So far, Stealth trials and Nobori numbers are relatively lower. So a stunning result in Leaders is more credible and will certainly carry more weight in M&A decision making.

I believe that there are other major factors besides Leaders alone that a potential company taking over has to decide upon. One of them is the pipeline of IPs that BIG has. Another is the market share that it has built. Capturing a large china market will certainly be a plus. I have checked BIGs patents/filings etc. and tried to study the other technologies in the pipeline. I must say that, BIG has some fantastic stuff after Biomatrix. Biomatrix Freedom is one of them and I like the scientific rigor that these guys have put in to ensure that it works well. In summary, it’s no use just buying a company for just one of its product but potentially the other products that they have to ensure market sustainability in the longer term future.

> b. If Bio is to stay independent, do you believe that at current price, this stock is undervalued?

 There are several ways to assess if the stock is overvalued or undervalued. I am not an expert on this. Those who are using FA and current earnings will probably tell you that it is overvalued… since it is still loss making. Going by the DCF method that Investor mentioned, it is undervalued. To me, I am assessing the value of this company based on the better technology it has compared to their rivals. I think that this company has some solid technology and there are some early clinical results to prove this. In comparing technology, we should also avoid mixing up our comparisons between technologies that touches on healthcare with non-healthcare ones. I believe in healthcare stocks, technology that shows safety and efficacy through clinical trials will almost always capture the market (I am saying “almost always” provided that good marketing is done). Come on!, we are playing with people lifes here….so logically the better technology will prevail. This is unlike non-healthcare stocks, for example stocks like Microsoft and Apple. One had the better technology long time ago but could not capture the market. The CE approval was just around the corner. So this is a turnaround period for BIG. We should wait for Q1 & Q2 figures to show what impact the past (smaller) clinical results has on Biomatrix. If the sales numbers are good prior to Leaders, then we know how the general medical community views the Biomatrix technology. And if Leaders shows a stunning result, then like what bengster mentioned, the sales figure will shoot up immediately. In summary, I think this stock is undervalued for the fact that it has a superior technology when compared to its rivals. I believe analyst also believe this and have used their DCF method to give an overperform rating on this stock.    

> What attracts you to BIo? 

It’s superior technology! The fact that it can innovate and stay ahead of the rest. I think it’s a hidden gem and I myself cannot believe that such a company is listed here in Singapore. I thought companies with this kind of technology only exist in US and Europe..!