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Daily Bulletin – 03/11/08
Daily Bulletin | 03 November 2008
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Volatility Reigns As Rate Cuts End Torrid October
Volatile trading characterised the final week of a torrid month for investors in equities, currencies, bonds and commodities as data showed the global economy facing a protracted recession. Many central banks sliced borrowing rates, led by the US Federal Reserve with its second half-a-percentage point cut in October. The Fed also set up dollar swap lines with Brazil, South Korea, Singapore and Mexico, a move that extended a dramatic rebound in emerging markets. The round of rate cuts came as data showed that the US economy shrank 0.3% in the 3rd quarter, led by a 3.1% plunge in consumer spending, the sharpest decline since 1980, which was the longest post-war recession.

Tritech Wins $3.48m Consultancy Contract
Tritech Group has, through its subsidiary, Tritech Consultants, been awarded a $3.48m consultancy contract to provide “Qualified Person (Supervision) Services for Contract 1590” by LTA. The contract, which lasts approximately 30 months, starts on 31 October 2008 and the defects liability period is 18 months.

Lee Kim Tah Secures Rs1.69b Construction Contracts In India
Lee Kim Tah has, through its 50% JV company with Woh Hup, L&W Construction, secured a Rs1.69b (approximately $55.96m) construction contract from Ascendas IT Park (Chennai) for the construction of a 14-storey IT building with an adjoining 10-storey multi-storey car park in International Tech Park Chennai, India. Work is expected to commence in November this year and scheduled for completion iin early 2010.

Hyflux Sells 4 Water-related Infrastruture Assets For $88m
Hyflux has inked 4 sale and purchase agreements with Hyflux Water Trust for the sale of 4 water-related infrastructures in PRC for a total of $88m. Sale transactions for 3 of the infrastructures are expected to be completed in December 2008 while the last one will be completed in December 2009. Hyflux’s subsidiaries will continue to provide operation and maintenance services and certain management services to the infrastructures.

Asia Pacifc Breweries Divests Liquorland For NZ$4.7m
Asia Pacific Breweries has, through its unit, DB Breweries, inked an agreement to sell its 100% stake in Liquorland to Foodstuffs Liquor New Zealand for approximately NZ$4.7m (approximately $4.5m) in cash.

Longcheer Reports 9% 1Q09 Revenue Increase As Diversification Efforts Paid off
Mainboard-listed Longcheer, a leading designer of mobile phones in PRC, has maintained its growth with a 9% increase in its 1Q09 revenue to Rmb905.3m as efforts in product and market diversification continue to pay off. Gross profit margin for 1Q09 also improved by one percentage point to 12.5%. Net profit, however, decreased 18% to Rmb 48.9m due to a drop in non-operating income.

Rickmers Maritime Sustains Strong Financial Performance In 3Q08 Results
Mainboard-listed Rickmers Maritime has reported strong growth in all financial indicators in its 3Q08 results, supported by the growth in its portfolio of modern and high quality containerships and positive underlying business fundamentals. Its revenue grew 97% while net profit increased 15%. Cash flow from operating activities also rose by 89%. The company is maintaining its DPU at an attractive US$0.0225 for the 2nd consecutive quarter.

Eucon Posts 8% Growth Revenue But Cautions Against Possible FY08 Losses
Eucon, an integrated PCB Solutions provider in PRC and leading independent PCB laser driller in Taiwan, has posted a revenue increase of 8% to $35.3m in its 3Q08 results. However, gross profit was lower by 42% at $4.6m and net profit declined 94% to $0.5m The company looks forward to a fairly slow recovery next quarter and has warned that its FY08 results are likely to see losses.

Hyflux  -- -- --   
Business: Provides integrated water management & environmental solutions. [FY17 Turnover] Municipal (82.5%), industrial (16%), others (1.5%).

Insight: Mar-19, 9M18 revenue sank 75% due to lower enginee... Read More
The Place Hldgs  0.018 -- --   
Business: Co provides printed circuit boards and related services.

Insight: Jan-19, Co recorded FY18 revenue of $1.8m (FY17: $... Read More


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