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Straits Times 3,125.03 -9.68 -0.31%
Hang Seng 26,816.73 +152.45 +0.57%
Dow Jones 27,001.98 -22.82 -0.08%
Shanghai Composite 2,975.38 -3.33 -0.11%
Singapore Daily Bulletin – 12/07/10
Daily Bulletin | 12 July 2010
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US Stocks Had Best Week in a Year – Up 5.1%
Stocks logged their best week in nearly a year, led by commodity and bank stocks, as investors looked to earnings season, which kicks off this week. The Dow Jones Industrial Average gained 59.04, or 0.6%, on 9 July-10 to close at 10,198.03. That brings the Dow’s total gain for the week to 5.1% and marked the best performance since the week ended 17 Jul-09, when the Dow gained 7.3%. Commodity stocks rallied amid signs of global growth and ahead of earnings from Alcoa, due out on Monday. Banks rebounded after being the biggest decliners at the start of Friday’s session. Material and bank stocks were the week’s best performers, up 8% and 7%, respectively. In Europe, European Central Bank President Jean-Claude Trichet said budget cuts by EU countries will not lead the euro zone back into recession. The euro is holding near two-month highs amid Trichet’s comments and the prospect of bank stress test results later this month.

TMC Aims To Expand Foothold Locally, In China And Vietnam
Catalist-Listed TMC Education Corporation (TMC) is looking to expand both locally and in markets such as China and Vietnam, chairman and CEO Chin Kon Yuen said. Consolidation in the private education industry, widely anticipated to result from stricter laws now governing the sector, is now underway, Chin added. TMC itself is considering the possibility of merger with other local firms. ‘We are always looking to expand, but without diluting or degrading the quality of education. This could be through a merger with a partner with whom we feel we have synergies,’ Chin said. TMC Academy is among 62 of the 1,000 private schools here which have qualified so far. It is also one of the 13 which have earned the higher-level Edutrust mark that allows enrolment of foreign students.

Significance: As foreign students make up about 60% of TMC’s current enrolment of 1,400 students, most of whom come from China, Vietnam, Indonesia and other Asian countries, this expansion plan enables TMC to further expand its territory.

ES Group Committed To Operational Plans In Thailand
Despite uncertain market conditions in Thailand, marine and offshore company ES Group is confidently committed to its operational plans in Thailand. The company which listed on Catalist last Friday, has seen its strategic venture into Thailand four years ago pay off. ‘Although there may be doubts about the certainty in Thailand, we are confident in our ability to deliver to our clients,’ said Christopher Low, chief executive officer of ES Group. Despite having encountered three episodes of political unrest since its establishment in Thailand, the group has remained unaffected, he said. It has not ceased operations of its yard despite facing challenges in meeting delivery deadlines.

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
ES Group (Hldgs)  -- -- --   
Business: Co builds, converts, and repairs ships, tankers, and other ocean-going vessels. [FY18 Turnover] New building & repair (76.3%), shipping (23.7%).

Insight: Feb-19, FY18 revenue increased 19.3%, mainly drive... Read More

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