You are the finance manager of RotiTalk, a company running a fairly profitable chain of bakery businesses in Singapore. Your boss, Mr Rok, a typical Chinese businessman who co-owns the company with his homemaker wife for the last 20 years, has always harboured the thought of listing the company one day. He claimed that he will be "super-rich" and will not need to work anymore if he can publicly list RotiTalk in the stock exchange. With the IPO goal in mind, he works very hard and for very long hours to make sure the company grows over the years and most importantly, makes profits. For the financial year ending in 2019, the company has finally crossed the one-million-dollar profit goal that Mr Rok have set his sight when he started the company. The following is the latest audited financial highlights of RotiTalk (image of financial highlights attached) As such, he thinks the company is now ready to go for IPO. However, he has no idea how to go about doing it and is now asking you to prepare a report on the feasibility of listing RotiTalk now. Your report will include the following questions that he has given to you. Question 1 There are many advantages of being a public listed company. At the same time, there are many challenges too for being a public listed company. Mr Rok would like you to examine these advantages and challenges for RotiTalk and for him as a founder so that he can decide whether is it worth the while to get RotiTalk listed. (35 marks) Question 2 Although he does not know the listing requirements in Singapore, Mr Rok is very confident that his IPO dreams can be realised because RotiTalk has been profitable for the last 20 years since it was founded. He said his friend told him that 'anyway there are no listing criteria for listing in the Catalist'. In your report, Mr Rok wanted you to demonstrate your understanding by explaining the current listing requirements in Singapore, appraise RotiTalk's latest audited financial information with respect to the listing requirements in Singapore and analyse its chance of getting approved for IPO in Singapore. (35 marks) Question 3 Taking into account the advantages & challenges of being a public listed company, the listing requirements, as well as your understanding of the financial profile of RotiTalk and Mr Rok's IPO dream, determine your recommendations to Mr Rok with respect to seeking IPO for RotiTalk? (30 marks)