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Straits Times 3,159.68 +0.88 +0.03%
Hang Seng 26,435.67 -33.28 -0.13%
Dow Jones 26,935.07 -159.73 -0.59%
Shanghai Composite 3,006.45 +7.17 +0.24%
Daily Bulletin – 16/10/08
Daily Bulletin | 16 October 2008
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Global Stocks Fall Sharply
Stock markets in Asia Pacific fell sharply on Thursday, a day after US markets were pummeled by growing fears of a worldwide recession. Japan’s Nikkei index fell nearly 10%. Australia’s market was down nearly 6%. Hong Kong’s Hang Seng and South Korea’s KOSPI index slumped 7%. Wall Street was hit hard on Wednesday as recession fears mounted. The Dow Jones industrial average plummeted nearly 8%, or 733 points, marking its second biggest one-day point loss ever. The jitters were prompted by a dismal report on retail sales, a bleak outlook by the Federal Reserve and sober remarks by Fed Chairman Ben Bernanke.

Jurong Tech Signs Term Sheet With Global Emerging Markets
Jurong Technologies Industrial has signed a non-binding term sheet with Global Emerging Markets (GEM) pursuant to which, a special purpose vehicle or utilization of a special purpose acquisition company will be formed in the equity interest ratio of 30:70 to acquire a significant interest in selected electronic manufacturing services businesses and assets of the company. The proposed disposal, if proceeded with, may constitute a major transaction. Further announcements will be made at the appropriate time.

Laviani Increases Offer Price For Cityneon Shares
In relation to the voluntary conditional cash offer for all the issued ordinary shares of Cityneon Holdings, Laviani has increased its cash offer price per share from $0.58 to $0.61. All the other terms and conditions of the offer as set out in the initial offer announcement remains unchanged.

SGX Business Remains Robust And Profitable
Singapore Exchange (SGX) has reported a net profit of $84.5m in 1Q09, 35% lower compared to a year ago when SGX recorded its highest quarterly profit since listing. Operating revenue, although bolstered by increase of 23.6% in net derivatives clearing revenue, was down 28% to $158.2m as securities market revenue and stable revenue were both down on year-on-year basis. In line with its new dividend policy, the company has declared an interim base dividend of 3.5 cents per share on a tax exempt one-tier basis.

Biosensors’ Drug-Eluting Stent Demonstrates Superior Strut Coverage
In the first study of its kind, a new medical imaging technique showed that lesions treated with a Biosensors’ biolimus drug-eluting stent were more than 10 times more likely to have nearly-complete stent-strut coverage at 9 months than those treated with the industry standard drug-eluting stent. These stents are believed to represent true next generation drug-eluting stent technology.

KTL To Expand Business Through Milestone Winch Venture
KTL Global has set up a strategic winch design and manufacturing venture, KTL Logan which will not only expand its product range and capabilities but also move it a step closer to becoming an integrated rigging equipment specialist. In addition, the company and its partners in the joint venture, has proposed to set up an exclusive joint marketing alliance to market and distribute winches manufactured by KTL Logan, in Southeast Asia, China, Japan, Korea and Australia.

CWT Acquires $12m SM Integrated Transware
CWT has through its unit OCWS Logistics, acquired a 100% stake in SM Integrated Transware (SMIT) for $12m cash. A pioneer in providing logistics services to the chemical industry in Singapore, SMIT specializes in the transportation, distribution and storage of bulk chemicals for leading multi-national chemical companies. The strategic acquisition of SMIT will complement and further extend the company’s comprehensive chemical logistics solutions, thereby strengthening its leading market position in chemical logistics.

Singapore Exchange  8.400 -0.10 -1.18%   
Business: [FY18 Turnover] Equities & fixed income (48.2%), derivatives (40.2%), mkt data & connectivity (11.6%).

Insight: Jan-19, 1H19 operating revenue increased 5.7% to $... Read More
KTL Global  -- -- --   
Business: Co is a supplier of rigging equipment and related services.

Insight: Feb-19, FY18, revenue for the 18 months ended 31 D... Read More
DBS Group Hldgs  25.150 +0.15 +0.60%   
Business: [FY18 Total Income] Institutional banking (43.7%), consumer banking/wealth management (42.9%), treasury markets and others (13.4%).

Insight: Apr-19, 1Q19 net profit rose 9% to a record $1.7b.... Read More

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