30 July 2007      
Volume `000 
Weekly movement as at 27 July 2007
KepCorp DBSeCW071005
SPC MBL eCW071109
Weekly movement as at 27 July 2007

SC Global Developments: Is current top bidder for Sentosa Cove at $268.3m
Novena Holdings: Gets go ahead from shareholders to sell off furniture business for over $20m
SembCorp Utilities: Looks to expand industrial wastewater treatment plants in Nanjing and Zhangjiagang
Labroy Marine: Received order confirmation from Swire Pacific Offshore Operations for the delivering of four vessels in 2009 and 2010
Wilmar International: Launches 2 JV companies to acquire manage and operate two corporate Gulfstream jet aircraft for executive use
Xpress Holdings: Incorporates subsidiary in Vietnam to provide specialist financial print services
Amtek: Among first Singapore manufacturers to enter Europe
Midas Holdings: CEO Patrick Chew increase stake to 5.74 percent hence becoming a substantial shareholder
Sunpower Group: Secures RMB 51.84m project to produce and deliver heat pipes


First Reit: Looks to enhance asset portfolio up to $500m via acquisitions
Chemoil Energy:Proposes sinking US$60m in capital into oil storage terminal in Fujairah
ASL Marine: Takes in $102m worth of European projects
SIA: Plans eBay auction for tickets to inaugural A380 flight
Singapore Post: Sells Clementi Central HDB shop unit for $7.9m
China Wheel Holdings: Distributes bonds valued up to US$25m to Lehman Brothers
St James Power Station Pte Ltd: Clinches tender to Anson Road/Enggor Street commercial site
Epure International: To customise a coal to diesel conversion waste water treatment system worth RMB 5.8m
Dayen Environmental: Mulls potential acquisition
Travelite Holdings: In talks to takeover another company
Ariel Singapore Pte Ltd: Will subscribe for 14.9m shares from Enzer Corporation
Advanced Holdings: Proposes 51.7m shares placement to raise up to $26.7m in proceeds


HOT Off The Press

CDI Incorporates Singapore Subsidiary

Communication Design International Ltd is pleased to announce that the Company’s wholly-owned subsidiary, CDI Holding Pte Ltd (incorporated in Singapore), has established a company, Clements & Street (Singapore) Pte Ltd.

Clements & Street (Singapore) is incorporated in Singapore with an issued and paid-up capital of S$2. It is a strategic joint venture that would principally be engaged in exhibitions and events, project management and implementations of projects for clients in the oil and gas as well as the automotive industry.

CDI Holding Pte Ltd holds 50% interest in Clements & Street (Singapore) and the remaining 50% is held by a third party, Clements & Street Limited, a company incorporated in the United Kingdom.

CDI is an international marketing and communications company with operations mainly in Singapore, UK, Germany and the PRC. They provide and manage end-to-end marketing and communications programmes for our clients. Together with our international partners, the Group provides a comprehensive range of marketing and communication services, starting from branding strategies and creative conceptualisation, to implementation and roll-outs.

Soilbuild Clinches Award To Develop Business Space For SMEs At Tuas Crescent

Soilbuild Group Holdings Ltd (Soilbuild) has won the award, following a Request-for-Proposal (RFP) launched by JTC Corporation (JTC) in June 2007, to develop and lease out or sell factories at Tuas Crescent. The 69,031 square metre (743,043 square foot) site, which is the largest development site awarded to Soilbuild to date, is on a 43-year lease and will be developed into 15 units of factories with an estimated net lettable/saleable area of about 700,000 square feet. The development will cater to engineering companies and supporting industries in the oil and gas, and marine clusters in the area. This is the fourth RFP award that Soilbuild has secured from JTC following the successful completion and take-up of the 12-unit Kranji Linc and 15-unit Senoko Food Connection terrace factories for SMEs, and the newly completed 8-storey Eightrium @ Changi Business Park for MNCs. Soilbuild has also developed and sold out the 33-unit Pioneer Lot factories.

The 15-unit development is targeted for completion by 2008 and will be built as 3 clusters of two-storey factories, with units ranging from 3,200 square metres (34,067 square feet) and 4,055 square metres (43,648 square feet). There is the flexibility of combining up to 4 units together if a larger factory space is needed. Each unit has its own private compound 10 car parks and three lorry park lots. Besides the functional, wide span and column free production space on both storeys, there is office space set aside on the second storey to oversee the production and sheltered loading bay areas. The high ceiling height of 12 metres on the first storey provides ample space for overhead cranes, as well as direct drive through access.

Each unit is also designed to be ecologically friendly. There is generous ventilation with natural lighting streaming in through jack roofs over the production areas, to reduce electrical consumption. Other thoughtful features include day-lighting for interior spaces, LED lighting and motion detectors for specific areas, and auto sensors and regulators for water systems. Soilbuild has acquired 100% of the equity shares in SB (TuasLinc) Investment Pte. Ltd., comprising 2 ordinary shares, through its wholly-owned subsidiary SB Development Pte. Ltd. on 6 July 2007. SB (TuasLinc) Investment Pte. Ltd. will act as a single-purpose vehicle to hold and develop the factories. The total investment cost is estimated at about S$68 million. The Group does not expect any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of Soilbuild for the current financial year ending 31 December 2007 arising from this award.

Soilbuild is an integrated property developer with a development portfolio of mid to high-end residential properties and business space properties for MNCs and SMEs. With an established track record of more than 30 years, the Group was listed on the Singapore Exchange in January 2005 and has successfully acquired and developed a range of residential properties mainly in prime urban districts.

Enviro-Hub Enters JV With Ramky Enviro Engineers Ltd

Enviro-Hub Holdings Ltd announced that its wholly-owned subsidiary Cimelia Resource Recovery Pte Ltd has entered into a joint-venture agreement with Ramky Enviro Engineers Ltd, a subsidiary of the Ramky Group of companies, under which Cimelia and REEL will jointly set up a company in Hyderabad, India. The initial paid up share capital of the JV Company will be 18,000,000 Indian Rupees or approximately S$700,000, which will be contributed and held by Cimelia and REEL on a 49:51 basis respectively.

Under the terms of the agreement, Cimelia will build and operate a complete e-waste management and recycling facility in Hyderabad, for the e-waste management, recycling and PGM recovery and refining in India. Apart from the planned facility in Hyderabad, the JV Company will set up 5 collection centres initially within India, namely at Chennai, Bangalore, Mumbai, New Delhi and Kolkata.

REEL is a part of the Ramky Group of companies. The Ramky Group of companies, founded in 1994 at Hyderabad, India, is today India’s largest environmental and waste management organization. It provides solid municipal waste, waste, bio-medical and hazardous waste management services to commercial, industrial and municipal customers including recycling, collection and disposal services in the states of Andhra Pradesh, Maharashtra, Tamilnadu, Karnataka, Kerala, Madhya Pradesh, Gujarat, U.P, Punjab and West Bengal.

Enviro-Hub is today, one of the largest providers of total environmental management solutions and services for the Global Electrical, Electronic and Equipment industries. It provides a whole spectrum of services such as management and recycling of electronic waste, recovery and refining of Platinum Group Metals, ferrous and non-ferrous metals, plastics and chemicals, copper smelting and refining as well as recovery and recycling of engineering plastics and manufacturing of IC trays using recycled engineering plastics. We have a strategic network spanning 20 countries worldwide.

Stark Investments Takes S$131.6 Million Stake In KS Energy

KS Energy Services Limited announced that Stark Investments, a US-based global alternative investment firm, through its three funds - Stark Master Fund Ltd, Stark Asia Master Fund Ltd and Centar Investments (Asia) Limited, has acquired a S$131.6 million strategic stake in the Company.

This strategic S$131.6 million investment will comprise the acquisition of 10 million ordinary shares amounting to $34.9 million and a 5-year S$96.8 million zero-coupon convertible bond issued by KS Energy. The 10 million ordinary shares, when issued by KS Energy, will rank pari passu in all respects and carry all rights similar to existing shares of the Company except that they will not rank for any dividend, right, allotment or other distributions, the record date for which falls on or before 31 August 2007.

Stark Master, Stark Asia and Centar are investment funds held by US domestic and/or international professionals. Stark Master invests in securities worldwide while Stark Asia and Centar focus on investments in Asia. The total assets managed by the three funds amount to approximately US$13 billion.

Listed on SGX-SESDAQ on 6 August 1999 and upgraded to the Mainboard on 11 March 2002, KS Energy is an energy services group catering to the oil & gas and petrochemical industries around the world. In addition to distributing more than 60,000 oil & gas, marine and tubular related products items that encompass more than three hundred global brands, the Group through a series of acquisitions in the last few years enhanced its expertise in the related services of procurement, distribution, engineering and offshore chartering to support its customers. Over the last two decades, the Group has established very close working relationships with major oil & gas companies in the region. In leveraging its enhanced expertise as a leading one-stop supply and services provider with these long term relationships, KS Energy was able to provide higher value-added services by procuring and supplying upgraded capital assets to CNOOC Group, Maersk, Gulf Drilling International Limited and others under the service contracts it has secured since November 2003. Headquartered in Singapore, the Group has subsidiaries and representative offices in China, Vietnam, Thailand, Qatar, UAE, USA, Indonesia and Malaysia to support its wide base of global oil & gas customers.

Bio-Treat Secures RMB455.28 Million Unsecured Loan Facilities

Bio-Treat Technology Limited is pleased to announce that two loan facilities of RMB390million and RMB65.28 Million have been secured with Industrial and Commercial Bank of China Limited and The Bank of China Holdings Limited, respectively. The Facilities were arranged in the fourth quarter of financial year 2007 and are a direct result of successful negotiations of the Suzhou BOT project financing (RMB390million) as well as refinancing of our Lianyungang City TOT Project that commenced operations in January 2006.

The proceeds of the Facilities will be used for the current operations of BOT and TOT projects.

The aggregate Facilities of RMB 455.28 million have been secured without the requirement of a corporate guarantee being furnished by the Company as well as any asset pledging by the Group. The maturity periods of the two loan facilities range from 6 to 10 years from the date of first drawdown and bear favorable interest rates compared with the national standard rate of 7.2%.

We are principally engaged in:

1) the development of our proprietary technology, known as ``BMS Biological Process Technology''; and

2) the application of our BMS Biological Process Technology in:

(i) the provision of our BMS wastewater treatment services, comprising consultancy and design, installation, commissioning and project management of wastewater treatment systems; and

(ii) the development, manufacture and sale of our BMS wastewater treatment and waste management products; and sale of third party waste and wastewater treatment equipment and accessories after undertaking modification processes.

HLN Subsidiary Made Authorised Distributor For Alcoa in SEA HLN Sales For Q3 Hit S$20 Million Mark

HLN Technologies Limited subsidiary HLN Metal Centre Pte Ltd was appointed as an authorised distributor of Alcoa Europe’s flat roll product of products Sheet and Plate for the South East Asia market. The company received the official certificate of appointment fro Alcoa recently and the distributorship covers the period of appointment for the commencement of business with Alcoa from January 2007 to January 2009.

Alcoa is the world’s leading producer and manager of primary aluminium, fabricated aluminium and alumina facilities and is active in all major aspects of the industry. They serve the aerospace, automotive, packaging, building and construction, commercial transportation, and industrial markets, bringing design, engineering, production, and other capabilities of Alcoa’s businesses as a single solution to customers.

On a separate note, HLN has secured orders amounting to S$20 million for Q3 2007. This order book is approximately 80 % of HLN’s FY 2006 entire revenue. The orders are secured from customers primarily in the Defence and Consumer Electronics sectors. HLN has been on an expansion drive since the beginning of FY 2007 with contracts secured within the past 6 months. These include the US$5.28 million contract with an MP4 Smartphone manufacturer and a S$4 million defence industry contract. The Purchase Orders are expected to have a positive impact on the performance of the Group in the current financial year.

HLN Technologies Limited ("HLN Tech") was incorporated in Singapore on 26 February 2004 and subsequently listed on 25 November 2005. It is involved in the manufacture and sale of a wide range of customized precision metallic, elastomeric and polymeric components, which are used in a variety of industries principally in the office automation, consumer electronics and automotive industries. HLN Tech has in-house material formulation and compounding facilities where it blends the mixture of elastomers and other ingredients to make rubber compound, a raw material used in the production of its precision elastomeric and polymeric components.


Aztech Adds 3 More Surface Mount Technology (SMT) Lines

Aztech Systems Ltd (“Aztech”) announced that the Group would be installing 3 Surface Mount Technology (“SMT”) lines for its current factory to increase production output. The equipments will cost the Group S$2.9 million and is expected to be fully commissioned and operational in September 2007.

The new SMT lines, housed at Group’s Dong Guan plant, will boost the Group’s existing 12 SMT lines to 15 in total.

This equipment purchase will be satisfied by internal resources and finance leasing and is not expected to have any material impact on the Group’s performance for the current financial year.

Incorporated in 1986, and listed on the Main board of the Singapore Stock Exchange, Aztech Systems Ltd specializes in the design and manufacturing of voice and data communications solutions. Headquartered in Singapore, Aztech today has over 2,500 employees worldwide with strong R&D centers in Singapore, Hong Kong and China. Supported by its six sales offices in Singapore, Hong Kong, China, USA, Germany and Malaysia, the Company provides OEM/ODM, contract manufacturing and retail distribution business.

Lion Asiapac Increases Investment In Subsidiary

Lion Asiapac Limited announces that LAP Investment Pte. Ltd., a wholly-owned subsidiary of the Company, has increased its investment in a wholly-owned subsidiary known as Compact Energy Sdn Bhd, by subscribing for an aggregate of 9,800,000 ordinary shares of RM1.00 each in the issued share capital of CESB.

The issued and paid-up capital of CESB has been increased to RM17,000,000 accordingly.

The increase in investment in CESB is funded by internal resources and shall not have any material impact on the earnings per share and net tangible assets of the Company and the Group for the financial year ended 30 June 2007.

The Company was incorporated in Singapore on 6 December 1968 as a private limited company under the name of Metal Containers (Pte) Ltd. On 18 December 1981, it turned public and changed its name to Metal Containers Ltd. In 1996, the Company was acquired by The Lion Group from Malaysia and adopted its present name. The major shareholders are currently Lion Corporation Bhd and Silverstone Corporation Bhd, both of which are listed on Bursa Malaysia. The Group currently operates the electronics business, and holds investments in automotive businesses in China.  

Cambridge Acquires 3 Properties For S$108.5

Cambridge Industrial Trust Management Limited, the Manager of Cambridge Industrial Trust, has identified the following Properties to be acquired by CIT.

- 1 Tuas Avenue for a purchase price of S$32,500,000;

- 120 strata units of Enterprise Hub located at 48 Toh Guan Road East for a purchase price of S$71,000,000; and

- Natural Cool Building located at 81 Defu Lane 10 for a purchase price of S$5,000,000.

In connection with the Acquisitions, RBC Dexia Trust Services Singapore Limited, as trustee of CIT, has entered into three separate conditional put and call option agreements with the following parties to acquire the three Properties.

- C&P Asia Warehousing Pte Ltd for the purchase of 1 Tuas Avenue 3;

- Soon Lee Realty Ltd for the purchase of 120 strata units in Enterprise Hub; and

- Natural Cool Air-conditioning & Engineering Pte Ltd, a subsidiary of Natural Cool Holdings Limited for the purchase of Natural Cool Building.

Upon signing of the Option Agreement, RBC will pay a nominal option fee of S$100,000 to C&P Asia’s solicitors to hold as stakeholders pending completion of the sale. The sale price for the IPT Property is S$32,500,000, comprising of S$26,500,000 for the property with the existing building and structures on the property and S$6,000,000 for the additional works to be carried out with an estimated gross floor area of 5,255.0 square metres. The sale price was arrived at on a willing buyer-willing seller basis and will be satisfied in cash.

Cambridge Industrial Trust ("CIT"), listed on the Singapore Exchange on 25th July 2006, is Singapore's first independent industrial real estate investment trust (REIT), and a conduit for investors to Singapore's high growth industrial sector. The Trust invests in income-producing industrial properties and has an existing portfolio of 32 properties valued at S$662 million. They range from logistics and warehousing properties to light industrial properties, all located across Singapore’s key industrial zones. This provides a secure and stable yield to Unitholders. The management team is anchored by experienced professionals with a breadth of expertise in fund, asset and property management sectors regionally as well as locally.

ASL Marine Wins New Shipbuilding Contracts Worth S$102 Million

ASL Marine Holdings Ltd., announced that it has secured new shipbuilding contracts worth S$102 million from European clients. The contracts are for 1 unit of 90metre DP-2 Subsea Operation Vessel, 2 units of Rotor Tugs and 2 units of Self-propelled Split Hopper Barges. The 2 units of Rotor Tugs are repeat orders from a customer.

The Subsea Operation Vessel measures 90 metres in length and 22 metres in breadth. The vessel is designed for subsea operations, offshore construction, diving support and ROV (remotely operated vehicle) services. It will be equipped with a fully furnished accommodation facility for 108 persons and an integrated diesel electric propulsion system generating a total 8.2 megawatts of electrical power, Dynamic Positioning System (DPS2) and a subsea crane of 100-tonne capacity integrated with an advance Active Heave Compensation System.

The one unit of Subsea Operation Vessel and the two units of Self-propelled Split Hopper Barges are expected to be completed in 2009. The two units of Rotor Tugs are expected to be completed in 2010.

ASL Marine is a vertically-integrated marine company principally involved in Shipbuilding, Shiprepair, Shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, the Middle East and Europe.

KS Energy Acquires 300-Feet Jack Up Drilling Rig

KS Energy Services Limited announced that it has approved the acquisition of a 300 feet Jack-up drilling rig known as “SNEFERU” for US$108.1 Million from the Egyptian Drilling Company (EDC).

EDC was formed as a joint venture between the Egyptian General Petroleum Corporation and the A.P. Moller – Maersk Group of Denmark. It is an international drilling company incorporated in the Arab Republic of Egypt.

The Rig is currently operating at the Baltim North Platform in the Mediterranean Sea, offshore Egypt. This acquisition will further strengthen the existing fleet of offshore rigs and vessels. This rig also provides KS Energy with opportunities to offer integrated drilling services to oil companies through its recently acquired subsidiary, Atlantic Oilfield Services Ltd. The Rig is expected to be delivered by 1st Quarter 2008.

KS Energy is an energy services group catering to the oil & gas and petrochemical industries around the world. In addition to distributing more than 60,000 oil & gas, marine and tubular related products items that encompass more than three hundred global brands, the Group through a series of acquisitions in the last few years enhanced its expertise in the related services of procurement, distribution, engineering and offshore chartering to support its customers.

Avi-Tech Electronics IPO 14.60 Times Subscribed

Avi-Tech Electronics Limited announced that its initial public offering (IPO) has been well received, attracting strong response for both the public and placement tranches. Based on the total Invitation size of 88,000,000 new shares and the total valid applications received, the Invitation was approximately 14.60 times subscribed.

In connection with its listing on the Singapore Exchange Securities Trading Limited (the SGX-ST), Avi-Tech offered 88,000,000 new shares at S$0.33 each which comprised a public tranche of approximately 3,000,000 shares and a placement tranche of approximately 85,000,000 shares. The placement tranche included 200,000 internet placement shares offered through the internet website www.ePublicOffer.com, and 8,800,000 reserved shares set aside for Non-Executive Directors, employees, suppliers, business associates and others who have contributed to the success of Avi-Tech. The Invitation represents approximately 25.1% of the enlarged share capital of 350,400,096 shares.

At the close of the public offer at 12 noon on Monday, 23 July 2007, there were 21,741 valid applications for the enlarged 3,805,000 Offer Shares (comprising 3,000,000 Offer Shares, 780,000 Placement Shares and 25,000 Reserved Shares) available to the public for subscription. Total application monies received for the public offer tranche amounted to approximately S$396.32 million. The Placement Shares had garnered strong indicative demand from a number of institutional clients and other strategic investors. Commerzbank (South East Asia) Ltd, Emirates Tarian Asset Management Pte Ltd and Black River Asset Management (Asia) Pte. Ltd. have collectively subscribed for an aggregate of approximately 18.4 million Placement Shares, representing approximately 20.9% of the total Invitation Shares offered. Westcomb Capital Pte Ltd is the issue manager with Westcomb Securities Pte Ltd as the placement agent and underwriter for the IPO of Avi-Tech. Avi-Tech shares will be traded in board lots of 1,000 shares on the Main Board of the SGX-ST. Trading is expected to commence at 9.00 a.m. on Wednesday, 25 July 2007.

Incorporated in Singapore in 1981, Avi-Tech Electronics Limited is one of the region’s leading ‘one-stop’ total Burn-In solutions provider to the semi-conductor industry. Our principal business activities involve the provision of Burn-In and Related Services, Design and Manufacture of Burn-In Boards and Boards Related Products and Engineering Services and Equipment Distribution.


CEO's Walk The Talk

“..The price of crude oil continued to climb throughout the year in review. With prices at record highs, oil companies have looked to invest in the exploration and production activities (E&P) to increase reserves. With increased drilling activities in markets we currently operate, the supply vessel demand remains buoyant. Our vessels are expected to be in good demand and charter rates should remain firm. In addition, the expected delivery of our deep water vessels will place Chuan Hup Offshore in the position to meet the increased vessel demand.”

Tan Sri Datuk Asmat Bin Kamaludin, Non-executive Chairman, Chuan Hup Offshore.

Highlighted Company

Our Company was incorporated on 31 March 1976 as Mico Line Pte Ltd and in April 1976 became a wholly owned subsidiary of Chuan Hup Marine Pte Ltd. The present name was adopted in September 1990.

Under the Chuan Hup Group, involvement in the oil and gas industry began in the early 1970s in Indonesia, the largest oil producer in South East Asia. In the early 1970s, oil exploration and production activities started onshore with major customers being Caltex Indonesia in Sumatra, Tesoro in Tarakan and Unocal in Balikpapan. As oil production progressively moved offshore, our involvement increased to meet demand and requirements of the oil customers. The consequential rise in demand for offshore support services led to an expansion to our offshore fleet. From 1981 to 1983, we acquired a total of 24 units of AHTS and maintenance vessels plus one tender assisted work-over rig.

Since then, in parallel to the development of the oil and gas industry, our Group has proactively continued to maintain an offshore support fleet which remains relevant to our customers’ need through upgrade, acquisition and renewal of vessels.

In the second half of 2002, Chuan Hup decided to reorganise its marine business into separate and distinct operations according to industry focus, offshore support services to the oil and gas industry, marine logistics services and transportation for the coal and other aggregate industries and other non-marine investments. CH Offshore became the corporate vehicle to 'house' assets and companies of the Chuan Hup Group that provided offshore support services to the oil and gas industry.

The Company became a public limited company, changed its name to CH Offshore Ltd (“CHO”) and was listed on the Singapore Stock Exchange by introduction on 28 February 2003. In October 2005, Habib Corporation Berhad (“Habib”), a public listed company on the Bursa Malaysia acquired 29.07% stake in CH Offshore from Chuan Hup Holdings Limited. Habib subsequently changed its name to Scomi Marine Berhad, reflecting the change of ownership at the company.

The CHO Group currently operates a fleet of 20 vessels, comprising AHTS and one maintenance vessel. It also co-owns two AHTS with Malaysian partners, enabling the Group access to operate in Malaysia. There are also six units of 12,240 bhp AHTS that are being constructed in Japan with expected delivery commencing September 2006 to end 2008. These vessels are deepwater capable and with its delivery would provide the Group with the diversity in products and capabilities to better service the customers.

Building on our strength and expertise, the Group has operations in a multitude of areas. Since 1980, we have served most oil majors and other customers in Malaysia, the Philippines, Brunei, Thailand, Vietnam, Australia and most recently the Middle East. With over 30 years of experience in almost every facet of offshore support services, we have forged excellent relationships with our customers through our firm commitment to quality, reliability and high service standards.

Historical Price Data
 Date Open High Low Close
26 July 2007 0.995 1.030 0.975 1.010
25 July 2007 0.975 0.990 0.930 0.970
24 July 2007 1.010 1.030 0.975 0.970
23 July 2007
20 July 2007 0.885 0.885 0.860 0.865

Historial EPS ($) a
Rolling EPS ($) e
NAV ($) b
Historical PE
Rolling PE f
Price / NAV b
Dividend ($) d
52 Weeks High
Par Value ($)
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 09/05/2007. 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

09 Jul 2007 Disposal Of Vessel
08 May 2007 Third Quarter Financial Statement And Dividend Announcement
12 Feb 2007 Half Year Financial Statement And Dividend Announcement
28 Dec 2006 Announcement Of Appointment Of Chief Financial Officer
28 Dec 2006 Announcement Of Appointment Of Chief Executive Officer

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