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Singapore Daily Bulletin – 04/05/10
Daily Bulletin | 04 May 2010
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Dow’s Best Day In Over 2 Months
The Dow rose more than 140 points, or 1.3%, its biggest gain since the middle of February, to close at 11,151.83 on the first trading day of May. Industrials were among the day’s best performers, but materials stocks such as Alcoa and ExxonMobil dropped as the dollar gained following the ISM report. Oil topped US$86 a barrel, gaining for a fourth session, supported by positive economic reports and concerns about the oil spill in the Gulf of Mexico. Gold hit another 2010 high, settling above $1,180 an ounce. Consumer-discretionary stocks, along with financials got a boost after Warren Buffett defended Goldman Sachs. Consumer spending rose for a sixth straight month in March and household savings fell to a 1.5 year low. European countries agreed to an aid package worth 110b-euro (US$146.5b) for Greece, the biggest-ever bailout of a country.

Swiber Secures US$148m Deal In South Asia
Swiber successfully secured an award worth US$148m ($203 million) from an oil and gas operator in South Asia. The EPIC (engineering, procurement, installation and construction) contract involves the installation of several pipelines in South Asia, as well as platform modifications. Offshore work will start in the last quarter of this year and should be completed by 2Q11. ‘South Asia continues to be a key market for the group,’ said Raymond Goh, executive chairman and group chief executive. ‘With firming oil prices, investments in production activities are expected to increase,’ Goh added.

Raffles Medical Targets 15-20% Revenue Growth
Raffles Medical Group (Raffles Medical) aims to post 15-20% revenue growth in 2010, banking on an aging population and growing wealth in the city-state. The company, which generates about a third of its revenue from overseas patients in Singapore, is also planning to grow revenues from other Asian countries and is opening two more clinics in Hong Kong this year. ‘We are looking for opportunity to grow our business in China, Vietnam, Malaysia, and Hong Kong though plans are still exploratory at the moment,’ said Raffles Medical chairman Loo Choon Yong to Reuters.

C&G Secures 3rd Waste-To-Energy BOT Project
C&G Industrial (C&G) has secured a $110.6m (Rmb550m) build, operate and transfer (BOT) project for a new waste-to-energy (WTE) plant in Xiaogan City, located in Hubei province, China, for a concessionary period of 27 years. The Xiaogan plant will be completed in two phases, with phase 1 set to commence operations in 1H12, and phase 2 to commence operations in 1-2 years after phase 1 starts operations. Both phases of the plant can generate up to 76m kWh of electricity per annum after completion. The green nature from which electricity is produced enables C&G to tap into a series of PRC Government subsidies to spur renewable energy use. With the addition of the new project, C&G will have a total of 10 WTE projects across Fujian, Hubei, Liaoning and Hebei, with an aggregate municipal solid waste treatment capacity of 10,050 tons per day.

C&G Environmental Protection Hldgs  -- -- --   
Business: Co develops and operates waste to energy plants in China.

Insight: Mar-19, FY18 Co remains a cash company and no rev... Read More


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