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Straits Times 3,162.28 +3.48 +0.11%
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Daily Bulletin – 10/12/08
Daily Bulletin | 10 December 2008
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Financials Suffer Losses As Wall St Rally Fades
Financial stocks bore the brunt of the losses on Wall Street on Tuesday as a two-day rally fizzled out. Morgan Stanley and Goldman Sachs dropped 8.2% to US$14.97 and 5.7% to US$72.77 respectively, amid nervousness of more write-downs ahead of fourth quarter earnings. Profit warnings and downgrades added to the gloom and pushed the S&P 500 index 2.3% lower to 888.67 points. The Dow closed down 2.7% to 8,691.33 and the Nasdaq Composite Index 1.6% to 1,547.34.

Global Demand For Oil To Plummet
The US energy department said global oil demand will fall this year and next, marking the first two consecutive years’ decline in 30 years. It forecasts that demand would drop 50,000 barrels a day this year and a hefty 450,000 b/d in 2009. US oil demand will drop next year to the lowest level in 11 years.

Sinwa & KS Energy Jointly Sign Charter Contract With Siemens Wind Power
Mainboard-listed Sinwa and KS Energy Services have signed a charter contract using their jointly-owned vessel, KS Titan 2, with Siemens Wind Power A/S to support its offshore wind power operations in the North Sea, as well as to supply consumables and provisions to support the vessel’s operations. KS Titan 2 shall replace KS Titan 1, which was previously scheduled for this project. The two-year contract is expected to commence in 1Q09, with renewal options extending to January 2022.

SGX Upgrades Trading Engine For Derivatives Business
SGX has launched a major upgrade to its trading engine, Quest-DT, for the derivatives market. The upgraded engine will add capacity and capabilities to support new order types and enhanced options trading strategies as well as serve increased demand from algorithmic and high-velocity traders. This upgrade is also an essential pre-requisite to the launch of the new derivatives clearing system (SGXClear) planned for end-2009.

Straits Asia Extends Exploration & Mining Area At Sebuku
Straits Asia Resources has received approval from Indonesia’s Ministry of Energy and Mines for a new area totaling 5,121 hectares for exploration and mining at Sebuku Island. Drilling of this new area will commence in 2009 and will add major long-term value to the company.

Apex-Pal To Open More Outlets For Hei Sushi Restaurant
Apex-Pal International, the Innovative Food People has aimed to expand its growth by tapping the Halal Japanese cuisine food and beverage market segment through its Halal brand, Hei Sushi and plans to open at least two more outlets in Singapore in the next two years.

Sembcorp Marine Secures $200m Contract From MODEC
Sembcorp Marine has, through its unit, Jurong Shipyard, secured an approximately $200m contract to convert a Very Large Crude Carrier tanker to a Floating Production Storage and Offloading vessel for MODEC, an international general contractor specializing in engineering, procurement, construction and installation of floating production systems. Expected delivery date is 1Q11.

Singapore Exchange  8.510 +0.01 +0.12%   
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
Sembcorp Marine  1.250 -0.010 -0.79%   
Business: Co is a leading global marine & offshore engineering group. [FY18 Turnover] rigs & floaters, repairs & upgrades, offshore platforms (98.8%), ship chartering (1%), others activities (0.2%).

Insight: May-19, 1Q19 revenue fell 31.3% to $810.6m due to ... Read More
Sakae Hldgs  -- -- --   
Business: Singapore-based food & beverage company.

Insight: May-19, 9M19 revenue fell 28.4% to $33.9m due to s... Read More
Winas  -- -- --   
Business: A leading marine, offshore supply & logistics co servicing the general marine & offshore industry. [FY17 Turnover] Supply (97.9%), agency & logistics (2%), ppt holding (0.1%).

Insight: Aug-18, 1H18 revenue rose 6% to $89.3m mainly due ... Read More
KS Energy  -- -- --   
Business: An integrated oilfield supply & services providers. [FY18 Turnover] Drilling (98.4%), engineering (1.6%).

Insight: May-19, 1Q19 revenue slid 58.7% due to decreased r... Read More


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