26 March 2007      
Volume `000 
 Gen Int
Weekly movement as at 23 March 2007
 GLD 10US$
 CMProp 100 HK$
Weekly movement as at 23 March 2007

Datacraft: Signs US$7.6m agreement to supply and operate a MPLS network for a global telecommunications carrier
FJ Benjamin: Made exclusive distributor of Celine fashion label in Singapore, Malaysia, Indonesia and Thailand
China Wheel Holdings: Subsidiary enters agreement to supply aluminium alloy wheels for Hyundai Kia Automotive
Yangzijiang Shipbuilding: Signals intent to list on SGX
Cosco Corp: Reports first jack-up rig order from Remedial Cypress Ltd worth US$124m
Sihuan Pharmaceutical: Courted by Dubai Ventures Ltd and Lehman Brothers Securities for anchor IPO investor role
Guangzhao Industrial: Subsidiary enters agreement to sell tropical fruit plantlets and seedlings to M'sia-based Jalur Lipur Sdn Bhd
Nera Electronics: To de-list from Singapore Exchange in light of NE Holdings acquisition last year
Greatronic: Gives up plan to acquire China-based Bai Mei International Group
Sim Lian: Subsidiary to carry out 10-storey entertainment development project worth $85.3m for Jack Investment Pte Ltd


Tiger Airways: Incorporates Australia-based subsidiary Tiger Airways Australia
Boustead: To receive $13.7m from sale of $13.7m long-term leasehold property
Keppel: Subsidiary clinches contracts worth $23m to provide solid waste treatment technology in China provinces
Serial System: Proposes acquisition of 36.2% stake in Taiwan-based Bull Will Co. Limited
Foreland Fabritech Holdings:  Looks to list on Singapore bourse
Raffles Education Corp: Collects $56m in placement proceeds to finance acquisition of Easycall International
Ace Achieve Infocom: Receives China 3G certification to help set up TD-SCDMA network.
Fu Yu Corporation: Reports former chairman Lui Choon Hay to the authorities for alleged contraventions of provisions of the Companies Act
Food Empire: Proposes US$8.7m acquisition of Naturant Systems in quest to expand Russian and Ukrainian market reach
CG Tech: Enters agreement to supply China-based Septwolves Industry Co Ltd with high-margin yard products
Global Voice: Receives a 5-year contract extension from Ireland-based Hosting 365


HOT Off The Press

Sinomem wins RMB 150m Water Recycling Project in China

Sinomem Technology was awarded a 30-year concession to operate a waste water treatment facility in Siping City, Jilin Province.

Additionally, the company has also acquired a licence to sell the treated water to industrial users in the city.

The plant is expected to commence operations in the middle of FY07.

The Group provides integrated process and engineering solutions for separation, purification and cleaner production purposes in diverse industries by the use of advanced membrane technology. The Group's customised membrane systems comprise the "software", being the membrane processes developed in-house by their specialists, and the "hardware", comprising components and equipment, some of which are manufactured in-house by their engineers. The Group, based in Xiamen, China was founded by the Managing Director, Dr Lan Wei Guang. Most of its business operations are located in China.The Group focuses on providing customised solutions to its customers. They install, commission and ensure the seamless integration of their advanced membrane systems with the production processes of their customers. Replacing more traditional separation and purification methods such as rotary vacuum drum filtration, evaporation and centrifuges, the Group's advanced membrane systems enable its customers to enjoy benefits, such as improved product quality, increased production yield, lower consumption of raw materials and energy and minimised waste discharge and pollution. The Group also provides value-added services such as technology innovation services and know-how, as well as after-sales technical support, training and assistance for its customers and the maintenance of these highly-customised advanced membrane systems.

Popular Increases Stake In Taiwan Subsidiary

Popular Holdings Limited has bought shares of subsidiary Popular Yuchen Company Limited from existing shareholders.

The total number of shares acquired was 2,495,000 shares in the issued share capital of Popular Yuchen at a total cash consideration of NT$8,732,500.

With this, Popular owns the remaining 49.9 percent of Yuchen making it a wholly-owned subsidiary.

Popular is a leading regional media powerhouse with an integrated business model strategically built on its core competencies in content creation and publishing, and retail and distribution. The group has more than 20 subsidiaries operating in Singapore, Malaysia, Macau, Taiwan, China and Canada.

Sunvic Incorporates Singapore Subsidiary

Sunvic Chemical Holdings Limited has incorporated a subsidiary in Singapore named Sunvic Asia Pacific Investment Pte Ltd.

The Subsidiary is a private company limited by shares incorporated under the Companies Act (Cap.50) with a paid-up capital of S$2.00.

The company will be primarily engaged in the investment holding business.

SunVic Chemical Holdings Limited is one of the pioneer and leading manufacturers of Acrylic Acid (AA) and Acrylate Esters (AE) in the PRC. AA and AE are the fundamental ingredients used in the production of many useful and important industrial and consumer products.

Samudera Launches Chittagong Express

Samudera Shipping Line Ltd has announced the launch of its latest shuttle service to Chittagong on March 21, 2007.

The service will initially comprise of four vessels with a frequency of one sailing in every four to five days between Singapore and Chittagong, as well as enhanced connections with the major East West shipping routes.

This new service would mean increased connectivity for cargo being trans-shipped at Singapore, Samudera's main hub. In addition, it will enable Samudera to extend its network of services in the East Coast of the Indian Sub-continent, where currently it serves the ports of Tuticorin, Chennai, Haldia and Kolkata.

Samudera Shipping Line is primarily engaged in the business of providing container feeder shipping services between the deep-harbour "hub" ports and the outlying "spoke" ports. Singapore continues to remain as the main "hub" port for the Company. Its regular and punctual feeder services connect the ports of South East Asia and the Indian Subcontinent with Singapore.

KSH Wins Contracts in Singapore and Malaysia

KSH Holdings Limited signs two Letters of Award for construction projects in Singapore and Malaysia.

The Singapore project is to build a 5-storey shopping complex in Tampines and the Malaysia project is to build a warehouse and office in Selangor.

With these additional construction projects, the existing order books of the Group's construction business stand at S$287.9 million.

Established in 1979, KSH Holdings Limited is involved in numerous construction projects in Singapore and Malaysia. It is also develops and manages properties in the PRC. The Group enjoys a solid reputation built on its 27 years of experience in the Singapore construction industry.


Raffles Education Takes Bigger Stake in Easycall

Raffles Education Corporation has completed its acquisition of shares in Easycall International Limited.

The total number of shares purchased is 35,000,000.

With this, the company now owns 149,984,784 shares of Easycall amounting to a 50.29 percent stake.

Raffles Education Corporation is a private education provider committed to nurturing creative talents and management expertise for the creative design and management industry. The Group's mission is to develop human resources for society in the field of creative education. This is the foundation of its business. The Group places strong emphasis on curriculum development to keep abreast with industry trends and needs. The Group provides its students with quality education that will equip them with the relevant knowledge and skills to be competent in the industry.

Guangzhao Industrial Forest Unit To Provide Tropical Fruit Seedlings

Guangzhao Industrial Forest Biotechnology Group Limited's subsidiary has entered an agreement to provide tropical fruit seedlings or plantlets to Malaysia-based Jalur Lipur Sdn. Bhd.

The company will provide the seedlings to Jalur for a period of 5 years begging April 2007.

The total number of seedlings provided per year is 10,000,000

The Group is principally engaged in the production and sale of Guangzhao Fast Growing Poplar, a variety of poplar with fast growing characteristics. The Group's business is divided into 3 segments:-sale of Guangzhao Fast Growing Poplar propagated seedlings sale of Guangzhao Fast Growing Poplar grown saplings planned sale of timber from their Guangzhao Fast Growing Poplar.

Cosco Subsidiary Clinches ESV Building Project

Cosco Corporation (Singapore) Limited's shipyard subsidiary has secured a contract from Remedial Cyprus Limited ("Remedial") to build an Elevating Support Vessel (ESV).

The "ESV" is a self elevating unit, designed for 325ft water depth. The unit is specially equipped with three thrusters for maximum maneuverability and three heavy lift cranes.

The project is worth approximately US$124 million and is scheduled for delivery in Q3 2008.

The principal activities of the Company are those of investment holding. The Group owns and operates ships. Its shipping-related businesses provide supporting services to the Cosco group, such as shipping agency services, ship repairs and container depots. The Group owns and develops property and engages in general trading.

Ace Achieve Gets Certified To Build China 3G Network

Ace Achieve Infocom Limited receives certification to participate in the building of China's new 3G network based on the TD-SCDMA standard.

The company was one of the invited candidates to showcase their 3G-related products at the trials, on the back of the impending rollout of 3G by early 2008.

These qualifying tests include the Electromagnetic Compatibility (EMC) qualifications, verifications by China Telecommunication Technology Labs (CTTL) 2 as well as the stringent evaluations by the Wireless Management Committee.

Ace Achieve is a provider of telecommunications solutions and products in China, focusing on the design and development of customized telecommunications solutions and products that are suitable for various telecommunication networks such as fixed line, GSM, CDMA, CDMA2000 and PHS. Its telecommunications solutions and products enable its customers to establish and/or enhance the efficiency and efficacy of their telecommunications networks as well as capture new markets and gain a competitive advantage through the provision of resources and capabilities for new products and services beyond basic telephony.

Food Empire Proposes Acquisition of Russian Coffeemix Brand

Food Empire Holdings Limited's subsidiary signs agreement to acquire Naturant Systems Inc.

Naturant owns the Petrovskaya Sloboda brand of popular instant coffee mixes in Russia which has a 22 percent market share in Ukraine and 6 percent market share in Russia.

The acquisition will be at a price of US$8,711,355.

Its principal activity is that of manufacture instant beverages and food products, such as frozen convenience food and snacks under its proprietary brands MacCoffee, Klassno, FesAroma, OrienBites, MacCandy and Kracks.

CEO's Walk The Talk

"..According to a 2004 study by the Food and Agriculture Organization of the United Nations ("FAO"), 3.6 billion people worldwide consume fish for at least 20% of their animal protein intake and global potential demand for fish is expected to grow by 50 million metric tons ("MT") from 133 million MT in 2001 to 183 million MT by 2015. However, it is highly improbable that this increase in potential demand could be totally satisfied through increases in the wild catch quantities and aquaculture production. This irreversible imbalance between demand and supply is reflected in the continual increase in the price level of fishery products and the shifting in the utilisation of under-utilised fish species from animal/agricultural feed to direct human consumption. Therefore, the Group's strategy is to continue widening our existing vertically integrated supply chain which starts from the harvesting of marine resources, to managing logistics, marketing and direct distribution of different fishery products harvested or sourced globally..."
Ng Swee Hong, Chairman
Pacific Andes (Holdings) Limited

Highlighted Company

The Company was incorporated in Bermuda on 3 January 2006 under the name of Huafeng Energy Holdings Limited. The Company adopted its present name on 25 April 2006.

The Group is principally engaged in importing raw materials such as butane and propane into port terminals onsite, and processing them into Liquefied Petroleum Gas ("LPG") according to customers' specified requirements. The processed LPG is then delivered to customers by land or sea.

Since 2003, the Group's customer base has grown to more than 200 companies which consist of contracted and non-contracted tier-two and tier-three distributors. These distributors supply the Group's LPG to a spectrum of industrial, commercial and residential end-users in southern and eastern China. In 2006, the Group increased its annual production designed capacity to approximately 900,000 tonnes per annum to meet rising demand from its clients.

Its office and production facility are located at Long Wan Suo Cheng Town, Raoping district, Chaozhou City in Guangdong, China which is located for its business as it has natural deep waters that can accommodate berthing of large LPG ship tankers. Its sales and marketing network covers mainly the Guangdong, Jiangxi, Zhejiang, Fujian and Hainan in China.

Historical Price Data
 Date Open High Low Close
21Mar 2007 0.405 0.405 0.400 0.400
20 Mar 2007 0.410 0.415 0.405 0.405
19 Mar 2007 0.400 0.405 0.395 0.405
16 Mar 2007
15 Mar 2007 0.365 0.380 0.365 0.380

Historial EPS ($) a
Rolling EPS ($) e
NAV ($) b
Historical PE
Rolling PE f
Price / NAV b
Dividend ($) d
52 Weeks High
Par Value ($)
  USD 0.050
Dividend Yield (%) d
52 Weeks Low
Market Cap (M)
Issued & Paid-up Units c
a Based on latest Full Year Results Announcement
b Based on latest Results Announcement (Full Year, Half Year or Interim)
c Rounded to the nearest thousand. Updated on 01/03/2007. Please click here for more information.
d Dividend is based on latest Full Year results announcement and excludes special dividend.
e Summation of the earnings from the latest 4 Quarter (or 2 Half Year) results announcement, adjusted for the current number of shares.
f Based on rolling EPS

01 Mar 2007 FY2006 Financial Results Briefing
28 Feb 2007 Ouhua Energy Achieves 25.3% Growth In FY06 Net Profit To RMB93.1m On Revenue Of RMB3.05b
28 Feb 2007 Report Of Persons Occupying Managerial Positions Who Are Related To A Director, CEO Or Substantial Shareholders
28 Feb 2007 Report Of Persons Occupying Managerial Positions Who Are Related To A Director, CEO Or Substantial Shareholder
28 Feb 2007 Full Year Financial Statement And Dividend Announcement

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