On track for supernormal growth -3Insider buying. Mr Seah Hock Thiam, Executive Director of Advance SCT and founder of Green World Holdings, bought 450,000 shares on 7 Jun and another 500,000 shares on 11 Jun. This indicates that the management team has great confidence in future prospects for Advance SCT. Unique integrated business model. Advance SCT captures the full value chain from recycling, smelting, refining and production of copper-based products. Its business model is similar to Belgium-based Cumerio (mkt cap: 602.2m, FY07 PE: 12.5x). Cumerio sources copper from concentrates, anodes, scrap and cathodes. It operates an integrated copper smelter and refinery in Bulgaria and a refinery and copper product facility in Belgium. We have raised our FY07 and FY08 net profit forecast by 5.6% and 28.2% respectively due to strong demand for copper coils at TTM Industries. Reiterate BUY with target price at S$1.50 based on FY08 PE of 12.5x.