M1 remains committed to providing the investment community, shareholders and other interested parties with timely, relevant, clear and accurate information with which to form an informed opinion of the Company and its prospects. Through two-way open communication, M1 seeks to foster long-term relationships with all
its stakeholders.

In recognition of its Investor Relations (IR) efforts, M1 was awarded a Certificate of Excellence at the IR Magazine South East Asia Awards 2009.

For FY2009, M1 continued to release quarterly, interim and full-year results to the public within one month of period end. All materials relating to the Company’s results, including presentation slides, were made available immediately on the M1 website, after mandatory posting with the Singapore Exchange (SGX). Quarterly conference calls, followed by question and answer sessions for analysts, investors and the media were held jointly on the same day of every results announcement. For the FY2009 full-year results, an in-person briefing was conducted at a centrally located venue. Audio webcasts of these events were also made available on the M1 website.

Apart from the quarterly results announcements, senior management and the IR team also provide regular updates on the Company's performance, strategy, developments and outlook through various channels. These include phone calls, conference calls, ad-hoc meetings, non-deal roadshows (NDRs) and investor conferences, both locally and abroad. As at 23 February 2010, the free float1 of M1 shares was 36.5%, with the majority shares held by institutional investors across Asia, UK and USA. As such, M1 continued to focus its IR efforts in these regions. In 2009, M1 undertook two NDRs to UK, USA and Hong Kong to engage current investors and meet potential ones. Locally, M1 participated in three investor conferences, namely the CLSA Regional Forum, UBS Pan Asia Telco Conference and the BNP Paribas Singapore Corporate Day, as well as the Morgan Stanley Asia Telecoms Tour.

Through the IR team, M1 welcomes queries and feedback from the investing public and seeks to consistently respond in an efficient and prompt manner. Email queries can be posted to the IR team at ir@m1.com.sg, and shareholders and interested parties are encouraged to access M1’s corporate website at www.m1.com.sg for the latest updates.

The Annual General Meeting (AGM) remains a key platform for retail shareholders to engage in open dialogue with the Board and members of the senior management team. In this regard, M1 continues to hold its AGMs at a central and accessible location, convenient to shareholders. In addition, all Board members and members of the senior management team make their best effort to attend each AGM to interact with shareholders. Our seventh AGM, held on 7 April 2009 at The Raffles City Convention Centre, was well attended by shareholders.

M1 is committed to creating long-term value for its shareholders. In terms of capital distributions, M1 seeks to maintain a sustainable dividend policy and strives to return excess cash to shareholders in the absence of value-enhancing opportunities. The Board and senior management review the Group’s capital structure regularly, taking into account the need to balance operational requirements with the flexibility to pursue strategic business opportunities for future growth, as well as consideration of the economic climate.

For the past 6 years, we have guided and maintained a dividend policy of paying out a fixed percentage of net profit after tax. In FY2009, we continued to distribute 80% of net profit after tax, a payout ratio that has been maintained since FY2005. The total dividend declared to shareholders for FY2009 amounted to 13.4 cents per share, same as the cash payout for FY2008.