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Daily Bulletin – 09/02/09
Daily Bulletin | 09 February 2009
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Wall St Soars On Bank Rally
US financial stocks enjoyed spectacular gains on last Friday as investors looked beyond the latest bleak economic data and focused instead on the Obama administration’s plans to shore up the stricken sector. The S&P 500 closed up 2.7% at 868.60 points, crossing its 50-day moving average on Friday afternoon for the first time during the week. The Dow was 2.7% stronger at 8280.59 points, while the Nasdaq Composite edged into positive territory, up 2.9% at 1,591.71 points.

LMA Enters Worldwide Sales And Distribution Partnership For Urology Products
LMA International has inked an exclusive sales and distribution agreement with Cook Medical, a global healthcare company that is among the world’s best-known and most respected names in medical devices and supplies, to distribute the LMA StoneBreaker and its product range globally. The partnership with Cook is said to provide the company with access to its extensive marketing and sales capability in the urology field to achieve a stronger presence and penetration across the world, therefore significantly improving the performance of its Urology division.

Company Profit Warnings And Updates

China Merchants Holdings has appointed Dong Xue Bo as its new Chairman following the departure of Wang Hong in the wake of a reorganisation of the company board.

Auric Pacific Group advises that its FY08 results ended 31 December 2008 are expected to decline due to unrealised loss on valuation of investments, operating loss from declining food retail sales and impairment loss on intangibles.

Jadason Enterprises expects to incur a loss for 4Q08 ended 31 December due mainly to weak demand for its printed circuit board drilling and PCB mass lamination services.

Kyodo-Allied Industries expects to report a net loss for 1H09 ended 31 December 2008 due to lower profit margins caused by high material costs and intense market competition, as well as impairment loss of $0.23m in its available-for-sale financial assets.

Pacific Healthcare Holdings expects to report a loss for FY08 ended 31 December 2008 mainly as a result of impairment loss of its investment in a subsidiary, Singapore Heart, Stroke & Cancer Centre and its related operations in PRC.

China Diary Group has informed that it expects to record a loss for FY08 ended 31 December 2008.

Sinostar PEC Holdings expects to report less sales and profits for FY08 ended 31 December 2008 compared to previous year, as demand for its products and the products’ selling price have fallen due to the slow-down of the Chinese economy.

Asia-Pacific Strategic Investments expects to incur a loss for 1H09 ended 31 December 2008 due to decrease in revenue, lower gross profit margin and higher operating expenses.

Kinergy expects to report a loss for FY08 after being hit by a significant drop in demand for its Electronic Manufacturing Services and proprietary equipments of its OEM Business Division in 2H08.

Jadason Enterprises  0.034 -0.002 -5.56%   
Business: Distributes machines and materials for the printed circuit board and semi-conductor industries. [FY18 Turnover] Manufacturing & support services (64.6%), equipment & supplies (35.4%).

Insight: May-19, 1Q19 revenue slid 21.7% as both of Co's tw... Read More
Sinostar PEC Hldgs  0.200 -- --   
Business: Producer of oil and downstream petrochemical pdts in the PRC.

Insight: Aug-18, 2Q18 revenue jumped 43.8% to Rmb518.2m mai... Read More

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