2 Years ago when Perennial was snapping up lands in China with MOU JVs with its Chinese partner in China, no one bothers about how the investment would evolve today. With its strong stakeholders being Wilmar's Kwok Khoon Hong, OSIM's Ron Sim and CEO Pua Seck Guan controlling almost 79% of Perennial and strong sharebuyback by its director in the past few months, Perennial seem to be gathering interest lately. It also worthwhile to note that due to the ageing population and low birthrate, healthcare takeovers has seen strong interest given that OUE has targeted on IHC and Healthway medical group. Could M&A action take place for PUA and its group of investors? The past few days trading volumes are a sign of action. Our target for PERENNIAL would be ABOVE $1.00.