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Straits Times 3,127.43 -7.28 -0.23%
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Daily Bulletin – 15/12/08
Daily Bulletin | 15 December 2008
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Wall St Losses Pared On Alternative Auto Rescue Hopes
US stocks drew another volatile week to a close on Friday with an afternoon rally after the Bush administration signalled it would use the US$700b bailout fund created for the financial industry to avert a collapse of the car industry. After a choppy session, the benchmark S&P 500 Index closed up 0.7% at 879.73 and the Dow 0.8% higher at 8,629.68. The Nasdaq Composite Index, meanwhile, finished 2.2% stronger at 1,540.72 after strong gains in the technology sector.

Dollar Slides To 13-Year Low Against Yen
The dollar slid to its lowest in 13 years against the yen on Friday as the US Senate failed to agree on a bailout for the three US automakers. The dollar fell to as low as ¥88.40 against the Japanese currency before stabilising at around ¥89.38 in recent trading.

MAP Tech Nets US$32m From Disposal Of Thai Subsidiary
MAP Technology has inked a conditional sale and purchase agreement with Fujilink Technology to dispose of its entire stake in its Thai subsidiary, M&J Technologies for US$32m.

Del Monte Pacific And SunMoon Establish Exclusive Distributorship In Philippines
Mainboard-listed SunMoon Food has, through its unit, United Agro, granted to Del Monte Pacific’s unit, Del Monte Philippines, exclusive rights to distribute, sell and commercially deal with SunMoon’s products in the Philippines.

TMC Education Signs MOU With Myanma Computer
TMC Education Corp has, through its unit, TMC Franchise International, inked a MOU with Myanma Computer to establish an academic link with particular emphasis on academic collaboration through the delivery of TMC Higher Diploma in Business Studies Module Certificate Program in Myanmar.

Zhongguo Jilong Signs Investment Deal With Changjiang Fertilizer
Mainboard-listed Zhongguo Jilong has signed an investment agreement with Changjiang Fertilizer under which, all the shares of the company will be transferred and all its debts will be settled in exchange for new ordinary shares in the latter which are valued at $4m on aggregate. The company will be delisted upon completion of the deal.

JES International In US$30m Divestment Deal
JES International has inked a conditional sale and purchase agreement with Jiangsu Eastern to sell its 49.18% equity interest in JYJJP Eastern Shipyard Accessories Manufacturing of which, Jiangsu Eastern is a substantial shareholder, for US$30m.

Jurong Tech Signs JV With Dewav
Jurong Technologies Industrial has entered into a JV agreement with Dewav pursuant to which, the company will transfer 30% of its entire shareholding in its subsidiary, Jurong HiTech (Suzhou) to Dewav in exchange for 9% in the capital of Dewav worth of $9m.

Iconic Abandons Proposed Acquisition Of Zenna Overseas
Iconic Holdings has abandoned its proposed acquisition of Zenna Overseas pursuant to the Heads of Agreement entered into with Hunan Taihe Group Stock, Phoon Wui Nyen and Zenna Overseas, due to failure to finalise a definitive agreement for the deal after an exclusivity period of 3 months.

Del Monte Pacific  0.125 -0.001 -0.79%   
Business: Co produces processed & non-processed fruit & food pdts, beverages & food ingredients.

Insight: Mar-19, 9M19 turnover fell 10.4% to US$1.5b largel... Read More
Global Dragon  -- -- --   
Business: Provides training & education courses offering tertiary diplomas, degrees & Master degrees.

Insight: Feb-19, 1H19 revenue jumped 167.8% mainly due to t... Read More
JES Int'l Hldgs  -- -- --   
Business: Co engaged in the trading & manufacturing of plastic products, foodstuffs, household insecticides, seasoning, beverages & infant-care products.

Insight: Aug-18, 1H18, Co did not generate any revenue but ... Read More


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