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Daily Bulletin – 20/01/09
Daily Bulletin | 20 January 2009
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London FTSE Rattled By RBS Record Loss
Britain’s banks hit their lowest in at least two decades as investors were spooked by the government’s moves to offer insurance on toxic assets. Expectations that Royal Bank of Scotland (RBS), poised to announce its biggest loss ever in its upcoming earnings report, will end under total state control sent it tumbling 66.6% to 11.6p, a record drop. The London FTSE 100 closed down 0.9%, losing 38.59 points to 4,108.47. Banks took 57 points off the benchmark, which is down 7.3% for the year so far.

Jurong Technologies Hit By Originating Summons and Statutory Demands To Pay Up
Jurong Technologies Industrial Corporation has received a copy of originating summons by DBS Bank to place the company’s unit, Jurong Hi-Tech Industries into judicial management for failure to settle outstanding debts of approximately $30m and US$44m; KBC Bank has also served a statutory demands against the company and its unit to seek repayment of approximately US$12m and $2m.

Cityneon Plans To Expand Staff Strength
Cityneon Holdings plans to expand its current staff strength of 140, following its firm order book for 2009 to 2012 at $52m to date.

Craft Print International Proposes Rights Issue To Raise Up To $2.8m
Craft Print International has proposed to undertake a renounceable non-underwritten one-for-two rights issue of up to 56m new company shares at $0.05 per share to raise up to a maximum of $2.8m in estimated gross proceeds.

Technics Oil & Gas Lands $23m Middle East Gas Compression Project
Technics Oil & Gas has secured a natural gas compression project worth $23m from a new client in the Middle East to supply seven units of reciprocating gas compressor packages.

Jade Signs MOU For New Coal Mine In Indonesia; Discontinues Mt Galugua Coal Mining Project
Jade Technologies has signed a binding MOU with PT Lipan Kokindo and two other investors to cooperate in the exploration and development of a coal mine located at IV Koto Sitingkai Agung, Riau Province, Indonesia. Meanwhile, the company has discontinued its current Mt Galugua coal mining project based on reason of economic unviability.

AsiaMedic Partners Mubadala Healthcare To Establish Wellness & Diagnostic Centre In Abu Dhabi
AsiaMedic and Mubadala Healthcare have signed an agreement to establish and manage a wellness and diagnostic centre in Abu Dhabi for 10 years, with option to renew for another 10 years.

Global Voice Signs Agreement With globalnet GmbH
Global Voice Group has signed an agreement with service provider globalnet GmbH, under which Global Voice will deploy a secure gaming platform consisting of high-performance Ethernet connectivity and IP solutions for the latter.

Company Profit Guidances and Warnings Updates
1. New Lakeside Holdings expects to report a consolidated pre-tax loss for 1H09 ended 31 December 2008 due to weak demand for its product, apple juice concentrate.
2. TPV Technology expects its FY08 results to decline significantly compared to previous year due to the deteriorating market conditions in 2H08 and foreign exchange losses suffered.
3. HLN Technologies expects to be profitable for FY08 ended 31 December 2008, in line with earlier forecast. However, the profits are expected to be substantially lower compared to previous year, mainly due to lower sales, disposal loss and impairment charges.

Abundance Int'l  -- -- --   
Business: Co engages in the trading of chemical products.

Insight: Feb-19, FY18 revenue decreased 21.1% to US$413.4m ... Read More
Technics Oil & Gas  -- -- --   
Business: Co is a full service integrator of compression systems & process modules serving mainly the O&G sector. [FY14 Turnover] Contract engrg (46.4%), procurement svcs (33%), engrg, procurement, construction & commissioning (20.6%).

Insight: Nov-15, FY15, Co rebounded strongly back to the bl... Read More
AsiaMedic  -- -- --   
Business: Co provides healthcare, and healthcare consultancy and management services in Singapore.

Insight: Feb-19, FY18 revenue fell by 1% due mainly to lowe... Read More
Zhongxin Fruit & Juice  -- -- --   
Business: Pdtn and sales of apple juice concentrate.

Insight: Jan-19, 1H19 revenue sank 10.9% to Rmb47.1m due to... Read More
TPV Technology  0.645 -- --   
Business: Co designs, manufactures, and distributes computer monitors, flat TV products, and other display products. [FY18 Turnover] Monitors (55.5%), TVs (39.9%), others (4.6%).

Insight: May-19, 1Q19 revenue fell 8.6% to US$2b due to low... Read More
Sinjia Land  -- -- --   
Business: Co's businesses includes property development & manufacturing of customised elastomeric & polymeric components.

Insight: Feb-18, FY17 revenue grew multi-fold to $0.5m due ... Read More

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