This project is about Litespeed Education Technologies Berhad, which later change its name to Eduspec Holdings Berhad (code number 0107), a company facing financial problems and was identified by Bursa Malaysia as a General Note 3 (GN3) company on 30^th June, 2009. Information about events related to the financial problems are discussed in the General Announcements of Company Announcements in the Bursa Malaysias website. Annual reports could be obtained from Company Announcements in the Bursa Malaysias website or from Datastream.

1.Look at the THREE major shareholders of the company for the last three years before the restructuring or from 2006-2008 (if available, if not just use as many years as possible). What are their percentage of ownership each year for these three years? Do you see any downward trend? What does that imply?

2.Analyze financial statements of the company over thew period 2004 to 2008 (if available, if not just use as many years as possible) using the appropriate ratios that you learned in Financial Management and Investment courses. When do you first see any indication that the company was facing financial problems? What are the reasons that these financial problems occurred? If there is no financial problems, why did this company was put under GN3?

3. Following the restructuring, what is the percentage of shares allocated to the old shareholders? (Old shareholders refer to shareholders before the restructuring). What is the percentage of shares owned by new shareholders? (New shareholders refer to shareholders that are brought in subsequent to the restructuring). Who control the company after the restructuring? Is it the same as the major shareholders in question 2?

4. What happened to the accounting performance of the company for a three-year period after the restructuring (or from 2010 to 2012)? Does the performance improve? Do you think that this company will survive five years from now (or in 2025)?

5.Look at the share prices for a period of three years before the restructuring ( from June 2006 to June 2009) to the three-year period after the restructuring (from June 2009 to June 2012). Do you observe any improvement in the share price performance? Should you add this company to your portfolio based on the accounting evaluation in question 4 and the share price performance)?