29 Sep 2008      
Volume '000 
China Hongx
Weekly movement as at 26 Sep 2008
DBS Bk 6% NCPS 10
JMH 400US$
Weekly movement as at 26 Sep 2008

M1 : Launches two unlimited data roaming plans for frequent Malaysia and Hong Kong travelers.
SingTel : To provide Infocomm Technology Services to increase revenues
KLW Holdings : Increases distribution period of rights-cum-warrant issue to raise net proceeds up to $3.54 million.
Baida Finance : Takes a 11.1 per cent stake in E3 Holdings for $5.89 million making it the largest single shareholder.
CapitaLand : JV with Mubadala, an Abu Dhabi company, see main construction project for Riham Heights project contracted to JV between Sunway Construction and Silver Coast Construction for US$500 million.
Dayen Environmental : Collaborates with Tanjung Offshore Berhad to sell oil-in-water separation technology in the Malaysian market.
ST Engineering : Subsidiary secures project from Airbus for heavy maintenance checks for A330 aircraft.
Etika International Holdings : Reports its milk products are not affected by the recent China milk troubles.
Thakral Corporation : Confirms EGM for October 15 with regard to the removal of its founding chairman.
CitySpring Infrastructure Trust : Looks to acquire up to  $1 billion in assets.


Chip Eng Seng : Says its JV projects with Lehman Brothers remain unaffected by its bankruptcy filing.
Allgreen Properties : Along with two other companies clinches bid for a RMB 200 million commercial site in Nanjing City for hotel, commercial and office use.
Linair Technologies : Inks MOU for the selling of its shares with UAE-based Ascorp Holdings valued at $20.4 million.
Del Monte Pacific Ltd : Sells Abpak Company Ltd to focus on growing newly acquired S&W brand.
China Kangda Food Company : Announced that tests done by the Hong Kong Food Safety Center showed no melamine in the raw milk used to process its Nissin Retort Pouch Cha Cha Dessert.
 SGX : To de-list Greatronic Limited in light of failure to resume share trading by September 30th.
DBS : States that itd Hong Kong banking operations are sound and will not affect its customers.
Hiap Seng Engineering : Subsidiary inks Letter of Intent with an offshore company for the supply of gas compressor modules for an FPSO vessel building project.
Hsu Fu Chi International : Announced the recall of its puffed rice roll products in light of findings of melamine traces by the Agri-Food and Veterinary Authority.
Hup Soon Global Corporation : In JV with Thailand-based Chewathai for a property development project.


Forbes Best Under A Billion 2008 SMEs 2008

ShareInvestor would like to congratulate these 15 Singapore-listed firms that made it to the Forbes list of Top 200 SMEs with a turnover below US$1 billion in Asia. We are honoured to have these companies as our online investor relations clients and look forward to more of our clients winning top honours in international rankings and awards. Cheers!

Established in 1974, Armstrong Industrial Corporation first started out as a contract supplier of rubber foam parts for the marine industrial sectors. Since then, the company has grown to become a leading precision engineering specialist in various industries and regions. In providing precision engineering solutions in Precision Die-Cut, Rubber Moulding, Metal Stamping, Heat Press Moulding & Vacuum Forming for the support of customers in diverse industries, over 300 multi-national clients have chosen Armstrong as their strategic partner for their long-term requirements and operational needs.

Asia Environment Holdings Limited (ASIAENV) is the Singapore investment holding company with subsidiaries engaged in the provision of integrated water and wastewater treatment solutions in the People’s Republic of China (PRC). Our Grade 1 Certificate for Contracting of Environmental Protection Projects and Grade A Certificate for Special Project Design from PRC’s Ministry of Construction as well as Grade A Certificate for Project Consultancy from the National Development and Reform Commission and Operation Certificate for Environmental Protection Facilities Qualification from China’s State Environmental Protection Administration, recognise our ability in handling projects of any size and complexity. Operating under the Penyao name in PRC, we offer integrated water and wastewater treatment solutions which cover planning and design, manufacture and fabrication, construction, installation, operation and maintenance. We are also well-equipped to undertake Build-Operate-Transfer (BOT) water and wastewater treatment projects, where we invest in, construct and operate water and wastewater treatment facilities for an agreed period.

Best World International Limited is a company that specializes in the creation of health and wellness products which are distributed through their proprietary direct selling channel. Founded in 1990 with a firm commitment to provide the best quality products to enhance our customers’ lives, Best World International Ltd has since evolved into one of the leading force in the health and wellness industry. Best World has since established a presence in Malaysia, Indonesia, Vietnam, Thailand, Taiwan, Brunei and Australia and will continue to expand outside South East Asia in the future.

Established in 1828, Boustead Singapore has grown into a progressive global Engineering Services & Geo-Spatial Technology Group with transnational operations. Offering an extensive range of specialised engineering services and geo-spatial solutions, we deliver professional answers customised to meet the client's specific requirements in a vast array of industries.

Established in 2000, China Hongxing Sports Limited (China Hongxing or the Group) is one of the leading sports gear enterprises in the PRC. We are primarily engaged in the design, manufacture and sale of an extensive range of sports footwear, as well as the sale of a wide range of sports apparel and sports accessories. The Group successfully listed on the main board of the Singapore Exchange Securities Trading Limited in November 2005. All our products are sold under our "Erke" brand name, which has won several awards and accolades in the PRC. Our products are distributed and sold via an extensive retail sales network spanning more than 3,250 point of sales across the PRC.

China Sky Chemical Fibre Co., Ltd is one of the leading nylon manufacturers in the PRC, supplying high-end quality nylon yarns of consistent quality to our customers. A type of polymer synthesised from petrochemicals, nylon fibres have exceptional tensile strength, are highly elastic, lightweight and easy to dye. The versatility of nylon allows it to be interwoven with natural fibres or other synthetic fibres to produce different types and qualities of textiles and fabrics. These fabrics are used in home furnishing, and other commercial and industrial products such as curtains, tablecloth, upholstery and decorative materials, shoes, bags, luggages, umbrellas, tents, ribbons and nylon webbings.

Courage Marine Group, founded in June 2001, is one of Asia's younger dry bulk shipping companies. It owns and operates 10 bulk carriers, deployed around Greater China, Japan, Russia, Vietnam, Indonesia, Bangladesh, and elsewhere in Asia. The vessels, totalling 444,742 deadweight tonnes, transport dry bulk commodities such as coal, cement, clinker, iron ore, minerals, and wood chips. On board to steer the group are five industry veterans with extensive hands-on experience in dry bulk shipping in Asia, particularly in Greater China. They bring nearly 150 years of combined experience, each excelling in his expertise to complement the others. Profitable since inception, our substantial presence in the region can capitalise on China and Asia-Pacific's continued economic growth. We are well-poised to take advantage of growing demand for dry bulk marine transportation services, especially coal. Industry growth prospects are positive, likewise Courage's outlook.

Epure International Ltd. (Epure) is listed on the main board of the Singapore Exchange Securities Trading Limited. With Beijing Sound Environmental Engineering Co., Ltd (Beijing Sound), a wholly owned subsidiary, as the main operating arm, Epure provides comprehensive services on water and wastewater treatment. Epure’s business models includes Build-Operate-Transfer (BOT), Engineering, Procurement and Construction (EPC), Equipment Integration (EI) and Operations Management (OM) applicable to municipal wastewater treatment, municipal water supply, industrial wastewater treatment, industrial water supply and advance wastewater treatment and recycling. To date, Epure had completed almost 600 water and wastewater treatment and environmental engineering projects.



Ezra is an integrated offshore support solutions provider for the oil and gas industry. The business was founded in 1992 and is headquartered in Singapore. Ezra was listed on the Singapore Exchange Securities Trading Limited ("SESDAQ") and promoted to Mainboard on 8th December 2005. Ezra also enjoys a good business network and has built strong customer relationships that have enabled us to retain existing customers and secure new businesses.

Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food and confectionery. It also has a wholesale business that trades in frozen seafood. Food Empire Holdings' products are exported to over 50 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina, Australia and the US. The Group has 18 offices (representative and liaison) in countries including Russia, Ukraine, Kazakhstan, Uzbekistan, Iran, Poland, Turkey, Belgium, Bahrain, Mongolia and Vietnam. Food Empire has more than 200 types of products under its own brands - MacCoffee, Klassno, FesAroma, Bésame, OrienBites, MacCandy, Kracks, MacFood, Zinties and Hyson.

Midas Holdings Limited was incorporated on 17 November 2000 as an investment holding company, with initial strategic investments focusing on two emerging product markets in the People’s Republic of China (PRC) large-section aluminium alloy extrusion products and polyethylene pipes, where there is a need for these products in the fast developing and growing PRC transportation, power and infrastructure industries. Our Aluminium Alloy Division has since become one of the leading manufacturers of large-section aluminium alloy extrusion products in the PRC, garnering a significant market share for such products in the transportation and power industries. Our Agency and Procurement Division was set up in November 2005 headquartered in Beijing. Besides its role as a central procurement centre for our business divisions, it also serves to leverage on the existing supplier and customer relationships to expand our product range to both existing and potential customers. In 2006, we invested in a 32.5% equity stake in Nanjing SR Puzhen Rail Transport Co., Ltd which is one of only four rolling stock companies licensed to undertake metro projects in the PRC on a nationwide basis.

Listed on the Mainboard of the Singapore Exchange, RafflesEducationCorp is the largest private education group in Asia. Since establishing its first college in Singapore in 1990, the Group has grown to operate three universities and 19 colleges across nine countries in the Asia-Pacific region: Singapore, China, India, Vietnam, Malaysia, Thailand, Mongolia, Australia and New Zealand. The Group also owns the Oriental University City in Langfang, Hebei Province, China - a 3.31 million square metres self-contained campus. Within this campus, there are 19 colleges with 57,000 students.

Sihuan Pharmaceutical Holdings Group Ltd. (Sihuan) is a leading manufacturer of cardiocerebral vascular (CV) drugs in the PRC. The Group’s 63 drugs, are distributed via an effective and extensive network of more than 2,500 distributors covering 30 provinces, autonomous regions and municipalities. Headquartered in Haikou, the Group currently manufactures 20 drugs using its own production facilities at 100%-owned Beijing Sihuan Pharmaceutical Co., Ltd and engages third party contract manufacturers to produce 22 other drugs. Sihuan is also the exclusive distributor of 21 drugs on behalf of unrelated pharmaceutical companies. CV Drugs account for over 80% of Group revenue, driven by Kelinao, Chuanqing and Anjieli. In fact, Kelinao is the PRC’s best selling peripheral vasolidation drug based on the drug purchases of a sample of 257 hospitals.

Sino-Environment Technology Group Limited (Sino-Env or the Company) and its subsidiaries (the Group) is an environmental protection and waste recovery solutions specialist in the People’s Republic of China (PRC). The Group's business is split into the following main segments: Industrial waste gas treatment, management and recovery of volatile organic compounds (VOC), in particular toluene, dust elimination, industrial waste gas treatment and management of sulphur dioxide (SO2) and oxidised forms of nitrogen (NOx) for independent power plants, in particular coal-fired power plants (desulphurisation and de- nitrogenation) and industrial waste water treatment and management.

Started in 1996, Swiber Offshore Ltd (Swiber or the Group) is a niche service provider to the offshore oil and gas industry, with a complementary business in the supply of marine support vessels. The Group offers a full suite of engineering, procurement, construction, installation and commissioning services which are customised to cater to the different needs of its customers in the oil and gas industry. These services include the launching of jackets and the installation of jackets and decks at offshore production sites, the laying of offshore pipelines, and the mooring of FSOs (Floating, Storage and Offloading), FPSOs (Floating, Production, Storage and Offloading) and SPM (Single Point Mooring) buoys.

E3 Holdings Sees Baida Finance Take A 11.1% Stake In E3 Holdings

E3 Holdings Ltd looks to issue subscription shares to Baida Finance Group Company Limited (Baida) to raise proceeds for new business opportunities in real estate and energy efficient, environmentally friendly systems.

Under the proposed agreement, Baida will subscribe to 217,982,000 new ordinary shares in E3 Holdings or around a 11.1 per cent stake in the company. With the subscription, Baida will be the largest individual shareholder of E3 Holdings.

The agreement comes in light of a recent partnership between E3 and Baida in the procurement, development, construction and management of 12 square kilometers of land designated for the construction of an integrated eco-financial city-centre of the JingYue District economic zone of Changchun City in Jilin Province, PRC.

E3 Holdings will be tapping on the extensive networks and experience of Baida in the PRC to grow its real estate development footprint in the Jilin Province. Baida on the other hand will be leveraging on the sound management team of E3 Holdings to develop its real estate projects as well as eco-city projects in the province as well.


Investor Relations Alert

SCS Clinches Top Honours at Infocomm Singapore Awards 2008

Singapore Computer Systems (SCS) has emerged tops at the 2008 Infocomm Singapore Awards (IS Awards) on Friday, 19 September 2008, winning the “e-Government” and “Tools and Infrastructure Applications” categories.

The IS Awards, organised by the Singapore Infocomm Technology Federation (SiTF), are the only industry awards that recognise development of innovative products and solutions by Singapore organisations. In its 7th year, it is a rebrand of the former APICTA Singapore League, of which winners will proceed to represent the Singapore Infocomm industry at the prestigious Asia Pacific ICT Alliance (APICTA) Awards annually.

The winners were chosen from a shortlist of nominated candidates by written submissions. Final selection is made by an independent panel of industry experts following a presentation. SCS outscored other contenders in the presentations to emerge tops. The areas evaluated by the panel of judges included uniqueness of the solution; features; application of technologies; and value to the public/government.

Established in 1980, Singapore Computer Systems (SCS) provides trusted ICT services to enterprise clients across multiple sectors, including Government, Defence, Education, Healthcare, Logistics and Financial Services. It offers an extensive range of services including IT infrastructure, applications management services, business solutions, managed services, converged communications and business continuity management services. SCS has operations in Singapore, Brunei, China, Malaysia, the Philippines and Thailand.

Food Empire One Of Asia's "Best Under A Billion" Companies

Food Empire Holdings (Food Empire) has made its second appearance into Forbes Asia Magazine’s prestigious list of the top 200 firms in Asia with turnover under US$1 billion.

With only 200 companies selected from 24,155 publicly listed companies in Asia, Forbes’ Asia ‘Best Under a Billion’ list identifies companies with consistent sales and profits over a three year period.

Food Empire is one of the only 14 SGX-listed companies to make into this year’s list. The company recorded an average 3-year ROE of 24 per cent and EPS growth of 31 per cent. Its group revenue has more than doubled and net profit almost tripled to $22 million over the last five years.

Food Empire Holdings Limited is a leading food and beverage company headquartered in Singapore. We manufacture and market more than 200 types of instant beverages and food products such as frozen finger food, frozen seafood, candy and snacks under our own brands MacCoffee, Klassno, FesAroma, OrienBites, MacCandy, Zinties and Kracks. Our products are exported and sold in more than 50 countries in major markets such as in Russia, Eastern Europe, Central Asia, Indochina and the US. Food Empire Holdings has 12 offices established worldwide including Russia, Ukraine, Kazakhstan, Uzbekistan, Turkey, Iran, Poland, Belgium, Bahrain, Mongolia and Vietnam. We have 4 manufacturing plants in Singapore, Russia, Vietnam and Malaysia where we exercise strict quality control to produce only the best products. Our competitive advantage is our international network, market knowledge and quality products.

Rowsley Sells Stake In DSM

Rowsley Ltd (the Company) announced the signing of a conditional Sale and Purchase Agreement for the sale of the Company’s 70 per cent interest in DSM Co Ltd (DSM) held by its subsidiary Rowsley Digital Sports Pte Ltd (RDS) to PT Puri Permata Mega and Mr Ong Seng Lee (the Purchasers). Upon completion of the sale and purchase, the Company will cease to have any interest in DSM Co Ltd.

The consideration for the Company’s disposal of its 70 per cent inrerest in DSM Co Ltd is S$1.00. The Sale and Purchase Agreement (the S&P Agreement) provides for the termination of the Agreement on Establishment of the Mongolian-Singaporean Joint Venture Company of 20 September, 2005 entered between RDS and certain individuals for the operation of the business of DSM. The S&P Agreement also provides for the Purchasers to pay a sum of S$111,936.28 being the residue of the shareholder loan provided by the Company to DSM, to RDS. The S&P Agreement further provides that RDS shall enter into a novation agreement (the Novation Agreement) with the Purchasers and DSM to novate the Shareholder Loan Agreement dated 4 October 2005 entered between the Company and DSM from the Company to the Purchasers.

The receipt of the sum of S$111,936.28 by the Company will be written back into the accounts of the Company for the current financial year, upon successful completion.

A Singapore-based investment company, Rowsley Limited is listed on the Singapore Stock Exchange Main Board since 2002. The Company's primary business activity is in investments, investment holding, strategic investments and other related activities. Rowsley's strategy and direction is designed to provide a focused portfolio, which it plans to strengthen with significant investments in the coming years.

COSCO Won Shipbuilding And High-Value Conversion Contracts

COSCO Corporation (Singapore) Limited (COSCO or the Company) announced that its 51 per cent-owned COSCO Shipyard Group (CSG) had won new shipbuilding and high-value conversion contracts totaling US$256.2 million. The new building contracts were awarded by a German customer to CSG’s subsidiary, COSCO Dalian Shipyard, to build 2 Kamsarmax bulk carriers (of 80,000 dwt each) at total value of US$108 million. The first 30 per cent installment payments for the contracts have been received, and the 2 vessels are scheduled for delivery in 2010 and 2011respectively.

Additionally, nine high-value conversion contracts valued at US$148.2 million were secured by CSG through its subsidiaries, Cosco Nantong Shipyard, Cosco Dalian Shipyard, Cosco Zhoushan Shipyard and Cosco Guangdong Shipyard. The contracts were awarded by global customers from the U.S.A., China, Hong Kong, India and Italy.

The contracts comprise 1 oil tanker-to-FPSO conversion from a repeat customer valued at US$60 million, 1 forebody conversion worth US$21.7 million, and 7 oil tanker-to2 bulk carrier conversions totaling US$66.5 million. The projects are slated for progressive completion by 4th quarter 2009.

Listed on the main board of the SGX, COSCO Corporation (Singapore) Ltd (COSCO) is a leading ship repair, shipbuilding & marine engineering and dry bulk shipping group. The Group owns 51 per cent of the largest shipyard group in China, COSCO Shipyard Group, and a fleet of 12 dry bulk carriers. It also operates shipping agencies. COSCO is the listed subsidiary of China Ocean Shipping (Group) Company, the largest shipping group in China.

FSL Trust Proposes Distribution Reinvestment Scheme

FSL Trust Management Pte. Ltd. (FSLTM), trustee-manager of First Ship Lease Trust (FSL Trust), announced that FSL Trust is proposing the adoption of the First Ship Lease Trust Distribution Reinvestment Scheme (the Scheme). The proposed Scheme, if adopted, will enable Unitholders to elect to receive their distributions in the form of new units (New Units) in lieu of cash. Unitholders will have the flexibility to elect for part of their distribution to be received in the form of New Units with the remaining distribution to be paid in cash. Unitholders who do not choose to participate in the Scheme will continue to receive their distribution in cash.

The Scheme enables Unitholders to acquire additional units in FSL Trust and thus increase their unitholding incrementally without incurring brokerage or other transaction costs. With the issue of New Units in lieu of cash, the capital base of FSL Trust will be enlarged incrementally and this is expected to enhance the trading liquidity of the units in the long run. The cash retained, which would otherwise have been paid as distribution, could be deployed to fund the continuing growth and expansion of FSL Trust.

The Board of Directors of FSLTM (The Board) will determine the applicability of the Scheme for every distribution declared for FSL Trust. If the Scheme for a particular distribution is applicable, the Board will determine and set the issue price of the New Units, at a no more than 10 per cent discount to the volume-weighted average traded price per unit on the Singapore Exchange Securities Trading Limited (SGX-ST) during the Price Determination Period(1). Both the applicability and the issue price of the New Units will be announced as soon as practicable. In the event that the Scheme is not applicable for a particular distribution, the distribution will be paid in cash in the usual way. For practical reasons and to avoid any violation of the securities laws in foreign countries, the Scheme is only offered to Unitholders with registered addresses in Singapore. Overseas Unitholders(2) who are eligible to participate in the Scheme and wish to do so must provide an address in Singapore for the service of notices and documents by notifying CDP(3) not later than five Market Days prior to the Books Closure Date.

First Ship Lease Trust (Reuters: FSLT.SI; Bloomberg: FSLT SP) is a provider of leasing services on a bareboat charter basis to the international shipping industry. Upon successful closing of the third Yang Ming vessel in October 2008, FSL Trust will have a diversified portfolio of 23 modern and high quality vessels, consisting of seven containerships, nine product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. These vessels have an average age of approximately 3.2 years^, and an average remaining lease period of approximately 9.2 years^ (excluding extension periods and early buy-out options). FSL Trust is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) and is managed by FSL Trust Management Pte. Ltd. (“FSLTM”), the Trustee-Manager. FSLTM is focused on growing the vessel portfolio of FSL Trust through accretive acquisitions with long-term bareboat charters. With the Yang Ming acquisitions, it would have doubled the asset size of its portfolio since its listing in March 2007. More details on FSL Trust are available at www.firstshipleasetrust.com.



Midas Secures Prestigious Preferred Partnership Agreement With Alstom Transport

that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd (Jilin Midas), has signed a collaborative agreement with Alstom Transport SA (Alstom Transport) to be included in Alstom Transport’s “Leading Partners 150” (LP150) programme. Chosen based on an assessment of its performance in innovation, quality, financial health and organisation, Jilin Midas is the first supplier in China to be included in the LP150 programme.

Designed to establish long-term preferred partnerships with 150 key global strategic suppliers, the LP150 programme was launched by Alstom Transport in June 2007. More than 60 suppliers will join the LP150 programme by March 2009 with the full 150 suppliers taking part eventually. Under the terms of the agreement, Jilin Midas will be considered a preferred supplier for all of Alstom Transport’s new and re-sourcing projects globally. Jilin Midas will also receive resources and technology support from Alstom Transport to develop key new products and improve industrial quality standards.

Jilin Midas’ inclusion in the LP150 programme will also enable both parties to share their views on markets and research and development policies, as well as to review action plans together to improve competitiveness, quality and organisation.

Founded in 2000, Midas is today a leading manufacturer of aluminium alloy extrusion products and PE pipes, primarily for the transportation and infrastructure sectors in the PRC. The Group operates three business divisions; namely, Aluminium Alloy, PE Pipe and Agency and Procurement. Midas is the only PRC certified supplier to the world’s largest train manufacturers, ALSTOM, Siemens and Changchun Bombardier.

Sino-Env Awarded Class A Project Design Certificate

Environment Technology Group Limited (the Group or Sino-Env) announced that the Group’s fully owned subsidiary, Thumb-Env-Tech Group (Fujian) Co., Ltd. (Fujian Thumb) has been awarded Class A Project Design Certificate from People’s Republic of China (PRC) Ministry of Construction.

This certificate permits Fujian Thumb to undertake the design, construction and implementation of waste water, waste gas treatment, desulphurisation and other environmental projects throughout the PRC without any limitation as to contract size or capacity.

Sino-Environment Technology Group Limited (Sino-Env or the 'Company) and its subsidiaries (the Group) is an environmental protection and waste recovery solutions specialist in the People’s Republic of China (PRC). The Group's business is split into the following main segments:

  1. Industrial waste gas treatment, management and recovery of volatile organic compounds (VOC), in particular toluene
  2. Dust elimination
  3. Industrial waste gas treatment and management of sulphur dioxide (SO2) and oxidised forms of nitrogen (NOx) for independent power plants, in particular coal-fired power plants (desulphurisation and de- nitrogenation)
  4. Industrial waste water treatment and management

FB150 To Bring Large Vessel Connectivity To Small Vessels

Inmarsat announced that it is to expand its FleetBroadband family to offer an entry-level, globally deployable, combined voice and data service targeted at small vessels. The new service, FB150, will deliver voice, IP data up to 150kbps and SMS, and is planned to be available by mid-2009.

Inmarsat has developed the new service to address the needs of smaller leisure, fishing and commercial vessels with lower data requirements than the high performance FB250 and FB500. FB150 will offer a voice connection at landline quality, accessible simultaneously with internet-capable IP data and simple-to-use SMS. The first manufacturers of FB150 hardware will be Thrane & Thrane and AddValue, which is partnering with SpaceCom for antenna production. FB150 hardware costs and service charges will be priced competitively for the target markets.

The FB150 above-deck antenna unit, as with the FB250, will be highly compact and easy to install. The below decks unit will be similarly scaled and offer standard interfaces to allow quick and easy connection to PCs and ‘off the shelf’ peripheral services.

Addvalue is a Singapore-based public listed company ( www.addvaluetech.com) and is one of the developer and supplier of the Inmarsat BGAN land portable terminal. Addvalue is currently developing a FB250 maritime terminal which is expected to be commercialised in 1Q ’09.

Armstrong’s ranks amongst Forbes Asia 200 “Best Under A Billion” in 2008

Armstrong Industrial Corporation Limited (Armstrong or the Group) has been selected by Forbes Asia to be amongst “200 Best Companies Under a Billion” in Asia Pacific in 2008.

These 200 companies highlighted are seen as the most successful smaller public companies in Asia and the Pacific. In all, the annual Forbes Asia’s “Best Under a Billion” list drew over 24,155 listed companies in the Asia Pacific region.

Shortlisted Asian companies must have revenues between US$5 million and US$1 billion a year. They are further assessed by having pretax margin of at least 5 per cent in the latest fiscal year, three-year average return on equity (ROE) of at least 5 per cent and positive earnings per share (EPS) growth for three years.

Established in 1974 and listed on the Main Board of the Stock Exchange of Singapore in 1995, Armstrong Industrial Corporation specializes in manufacturing rubber and foam parts that reduce Noise, Vibration and Harshness (NVH) for the electronics and automotive industries. It provides innovative solutions for insulation, dampening, cushioning, sealing and related applications. Armstrong produces high performance precision die-cut, rubber molding, stamping, vacuum and heat press molding components for the data storage, office automation, consumer electronics and automotive industries. Major customers are world-class multi-national corporations. Armstrong’s operations are housed in its Singapore corporate HQ and factories across Singapore, Thailand, China, Malaysia, Indonesia and Vietnam.

Tung Lok To Strike Off A 50% Joint Venture Company

Tung Lok Restaurants (2000) Ltd (the Company) announced that its 50 per cent joint venture company with Nova Leisure Pte Ltd, “Imperium Fine Dining And Entertainment Pte Ltd” (Imperium), a dormant company, has applied to the Accounting and Corporate Regulatory Authority in Singapore to strike off its name from the Register of Companies pursuant to Section 344 of the Companies Act, Cap. 50.

The above striking off of Imperium is not expected to have any material impact on the net earnings per share or net tangible assets per share of the Company for the year ending 31 March 2009.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the aforesaid transaction save for their shareholdings in the Company.

Tung Lok Restaurants (2000) Ltd is Singapore's leading innovative restaurant chain. Offering a distinct and multi-sensory dining experience at each of its restaurants, the Tung Lok group of restaurants has grown to become popular dining venues for discerning local and international diners.


CEO's Walk The Talk

“…With infrastructural and transportation development as integral parts of the PRC's 11th five-year plan, we are optimistic about the industry outlook for Midas as the PRC government accelerates investments in public railways and metro networks to support the country's economic growth. With growing urbanisation and increasing population in cities, major cities in the PRC are building new metro lines or expanding their existing metro networks to facilitate urban transportation. In addition, the improvement of inter-city transportation is also leading to more opportunities for railway projects across the country.”

Chew Hwa Kwang, Patrick
Chief Executive Officer
Midas Holdings Limited

Singapore's Most Promising Company Profile

China Energy Limited (China Energy) is believed to be China's largest producer of Dimethyl Ether (DME) based on our production capacity as of December 31, 2007.

The Group is a pioneer in DME production and has a patented technology in DME production which enabled us to lower our capital expenditure thereby providing our product with a cost advantage.

DME is used as an economical blend stock for liquefied petroleum gas (LPG) and is a potential clean, safe and economical alternative fuel for automotive. Presently, most of our DME are sold to LPG distributors, who blend it with LPG to improve the LPG combustion properties and reduce their average cost. Such fuel blend is sold to end-consumers for household and industrial uses.

As DME is an environmentally-friendly fuel with lower smoke emission rates compared to certain other conventional fuels, we believe DME has the potential to become a widely accepted alternative fuel in the future.

Our Group also produces methyl alcohol (Methanol) which is primarily used for production of other chemicals, including as a feedstock for DME production. Besides using Methanol as a feedstock for our DME production, we also sell Methanol to third party chemical producers.

The Group's existing facilities are currently located in Linyi, Shandong Province, Nansha, Guangdong Province, and Zhangjiagang, Jiangsu Province. As at 31 December 2007, our DME capacity is 600,000 metric tonnes per annum.




Historical Price Data
 Date Open High Low Close
26 Sep 2008 0.245 0.245 0.225 0.235
25 Sep 2008 0.250 0.250 0.235 0.245
24 Sep 2008 0.230 0.255 0.230 0.255
23 Sep 2008 0.225 0.235 0.220 0.235
22 Sep 2008 0.240 0.255 0.230 0.235

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 Shares c
a Based on latest Full Year results announcement, adjusted for the current number of shares.
b Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares.
c Rounded to the nearest thousand. Updated on 20/08/2008. 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


13 Sep 2008

China Energy Renews Board Of Directors

13 Sep 2008

Matters Pertaining To The Company's Annual General Meeting On 29 September 2008

13 Sep 2008

Audited Financial Statements For The Financial Year Ended 31 December 2007

13 Sep 2008

Notice Of Annual General Meeting

9 Sep 2008

Announcement Of Cessation As Chief Financial Officer

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