1. Land cost at $1,506 can rightly be adjusted to $1,000/ sqm $18m - $12m gives additional benefit of about $6m $6,000,000 2. Arbitration Recovery . This project has also factored in Arbitration cost recovery at $2.156m $2,156,250 3. Consultants Fees. This will be jointly appointed with potential added benefit to APP $1,000,000 Estimated benefit to APP 30% $300,000 4. Share of Profit Elalan has stated that the profit based on the deductions above and the limited units doesn’t fit into their typical model. They have however confirmed willingness to continue with the project on relationship basis. They have verbally hinted they would tak e a minimum of $5m from the PBT leaving APP with $1,335,387 I am however recommending a minimum of $2,335,287 as a worst case value. The initial model they presented was 50/50 split on a $26m profit. The profit value reduced on the back of reduced units and unit types. $2,335,287 Interest Income on $10m $1,865,164 Projected total Benefit $13,056,701