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Straits Times 3,169.89 +9.17 +0.29%
Hang Seng 27,353.93 +86.80 +0.32%
Dow Jones 25,585.69 +95.22 +0.37%
Shanghai Composite 2,852.99 +0.48 +0.02%
Daily Bulletin – 24/12/08
Daily Bulletin | 24 December 2008
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Wall St Falls On Gloomy Economic Data
US stocks ended lower, after an earlier rally in thin volume on Tuesday, as investors digested the government’s final and unchanged figure on third-quarter GDP and more data on the housing market. By the close in New York, the S&P 500 index was down 1% at 863.16 while the Nasdaq Composite was down 0.7% at 1,521.54. The Dow was down 1.2% as well, at 8,419.49.

Asian Shares Down On Signs Of Deepening Recession
Chinese shares had their worst day in more than a month despite the central bank cutting interest rates for the fifth time in three months. The Shanghai Composite index dropped to a three-week closing low of 1,897.23. On the broader market, the Hang Seng index closed 2.7% lower at 14,220.79 while local STI was also down by 1.2% to close at 1724.54.

ASTI Invests $2.8m In Semicon Packaging Business
ASTI Holdings has inked a conditional sale and purchase agreement with certain shareholders to acquire a total of 56.9m shares in APS investments for $2.8m, to be satisfied through the issue of 20.3m ASTI treasury shares. APS investments is a technology company with R&D capability for advanced packages for the semiconductor manufacturing industries.

F&N Terminates $30m Acquisition Deal
Fraser and Neave has inked a Termination agreement with Kotak India Real Estate Fund-I for the $30m acquisition of 74% shareholding interest in KS Realty due to condition precedent not being met.

Armarda Acquires Remaining 20% In BTL For HK$27.2m
Armarda Group has inked a sale and purchase agreement with Lee Mun Lung, Vincent to acquire the remaining 20% stake in Brilliant Time Limited (BTL) for HK$27.2m, turning it into an indirect wholly-owned subsidiary.

Communication Design Acquires C&S For £0.6m
Communication Design International has inked a sale and purchase of shares agreement to acquire Clements and Street (C&S) for £0.6m. The deal is expected to increase the company’s clientele and expand its services into other industries.

China Great Land Issues FY08 Profit Warning
China Great Land expects to record a significant loss for its FY08 results due to significant slow down in Hainan construction market in 2H08, high costs of production, loss suffered by subsidiary and appreciation of Chinese yuan against Singapore dollar.

China Paper Expands Production Capacity With Rmb80m
China Paper has informed that it intends to expand the production capacity of its existing paper chemical products facility at a cost of Rmb80m. When completed in June 2009, existing production capacity for paper chemical products is expected to double.

PSC Takes Thai Companies To Court For Default Payment
PSC Corporation has commenced an litigation charge in Thailand against Potara and Potalai for approximately US$39.2m mainly in default on payments and termination of contract.

ASTI Hldgs  0.032 +0.001 +3.23%   
Business: [FY17 Turnover] Backend equipment solutions and technologies (97.8%), distribution & services (2.2%).

Insight: Mar-19, Co requested for extension of results anno... Read More
Fraser & Neave  1.780 +0.050 +2.89%   
Business: [FY18 Turnover] Dairies (60%), beverages (25.4%), printing & publishing (14.6%).

Insight: Apr-19, 1H19 revenue inched 1.9% to $931.8m underp... Read More
SinoCloud Group  0.001 -0.001 -50.00%   
Business: Co provides Internet data centre management services.

Insight: Feb-19, 9M19 revenue fell 22.3% to HK$41m mainly d... Read More
Imperium Crown  -- -- --   
Business: Co engages in the activities of property development and investment in Japan and Singapore.

Insight: Feb-19, 1H19 revenue slid 91.6% following the dive... Read More
China Great Land Hldgs  -- -- --   
Business: Co is a cash company.

Insight: Aug-18, 1H18, No revenue generated as no project w... Read More
China Paper Hldgs  -- -- --   
Business: [FY12 Turnover] Paper mfg (89.9%), paper chemicals mfg (10.1%)

Insight: Aug-13, as represented in the 4Q12 results, Co's r... Read More
Hanwell Hldgs  0.225 -0.005 -2.17%   
Business: Supply of provisions and household consumer products. [FY18 Turnover] Packaging (66.4%), consumer essentials (33.5%), others (0.1%).

Insight: May-19, 1Q19 revenue slid 6.8% due to lower revenu... Read More

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