12 January 2009
Name Volume
GoldenAgr 874,322,000
China Hongx 338,757,000
StraitsAsia 220,101,000
CoscoCorp 217,170,000
Chartered 211,387,000
Name Value
DBS 915,014,582
Capitaland 507,598,951
DBS R 300,684,120
SingTel 295,582,163
Kep Corp 277,512,710
Name Price Chg
OCBCCap 5.1%NCPS 100 90.500 +3.100
JMH 400US$ 20.500 +2.160
STXPO 100 11.060 +1.290
JSH 500US$ 10.980 +1.070
DBS Bk 6% NCPS 10 97.200 +0.900
Note: Weekly movement as at 09 January 2009
Singapore: Record yearly, monthly activities for share buybacks in 2008
Singapore: Sweeter travel deals as jet fuel price falls
Singapore : Raffles Place Q4 office rents slide 15.8 per cent: DTZ
Singapore : Asian stocks may soar 43% this year
Singapore : SGX posts record derivatives trades
Malaysia : Kuala Lumpur – KL may sell RM73b bonds to fund stimulus package: CIMB
Malaysia : Kuala Lumpur – M’sia preparing second stimulus package
United States : New York – Madoff took in US$10m 6 days before arrest: suit
United Kingdom : London – UK slashes interest rates to lowest in 315 years

United Kingdom : London – Oil, gold, base metals slide in 2008 after record highs

Rickmers Maritime
Rickmers Maritime Welcomes Its First Newbuilding For 2009

Rickmers Trust Management Pte. Ltd., Trustee-Manager of Mainboard-listed Rickmers Maritime (the “Trust”), announced on Janaury 6, 2009 that it had accepted delivery of its 14th vessel, MOL Destiny. Constructed by China’s Dalian Shipbuilding Industry Co. Ltd., the new containership expands the Trust’s current operating fleet to 14 vessels, with another five newbuildings expected to be delivered in the current year.

MOL Destiny is time chartered to Japan’s Mitsui O.S.K. Lines, Ltd. (“Mitsui”) for a period of 10 years. The containership is the fourth in a series of five 4,250 TEU vessels that are chartered to Mitsui, one of the largest and most reputable shipping companies in the world. The fifth vessel, MOL Devotion, is expected to be delivered in the first quarter of 2009.

“We believe our strategy of acquiring vessels with long term charters to leading liner companies will pay off amid the current market instability. Not only are we unaffected by fluctuations in freight rates, we also enjoy a stable and highly predictable revenue stream,” said Mr Thomas Preben Hansen, CEO of Rickmers Trust Management Pte. Ltd. “We look forward to accepting delivery of more vessels this year, which will further expand our fleet of quality containerships, increase our revenue and enhance our returns to Unitholders,” he added.


Courage Marine
Announcement Of Disposal Of MV Panamax Mars

The Board of Directors of Courage Marine Group Limited (the “Company”, together with its subsidiaries, the “Group”) announced that Panamax Mars Marine Co., Ltd. (“Panamax Mars Marine”), a wholly-owned subsidiary of the Company’s wholly owned subsidiary Courage Marine (Holdings) Co., Limited, had on January 3, 2009 effected a disposal of MV Panamax Mars (the “Vessel”) pursuant to a memorandum of agreement dated December 18, 2008 between Panamax Mars Marine and Goldcapital Asia Management Ltd. (the “Buyer”). The consideration for the disposal of the Vessel is US$7,000,000.

The Directors are of the view that the abovementioned disposal would be in the best interests of the Company and the Group as the proposed disposal price is favourable compared to current market prices of ships of equivalent age and size and the Group would be able to use the proceeds obtained for working capital and/or other acquisitions, depending on the market conditions and the opportunities available.


StarHub Appoints Tan Tong Hai as Chief Operating Officer

StarHub Ltd announced the appointment of Mr Tan Tong Hai as Chief Operating Officer (COO) for the Group from 15 January 2009. He will report directly to Mr Terry Clontz, CEO of StarHub. Mr Tan brings with him over 20 years of experience in the regional IT, Internet and ecommerce industries. He has had broad experience at top management levels at both local start-ups and MNCs.

Mr Terry Clontz, CEO of StarHub Ltd, said: “I have known Tong Hai for 10 years, beginning with his appointment in 1999 as the General Manager of StarHub Internet. Over those 10 years, I observed Tong Hai's success with Pacific Internet (PacNet) and Singapore Computer Systems (SCS). With his track record, experience, and industry knowledge, I know he is uniquely qualified to serve as StarHub's COO. Also, his special insight will be critical as we evolve our business to capture the opportunities arising from IDA's Next-Generation National Broadband Network initiative. I am delighted to welcome him back to the StarHub Group, and I look forward to working with him again.”


Use Of IPO Proceeds And Re-Allocation Of IPO Proceeds

The Board of Directors of Travelite Holdings Ltd. (the “Company”, and together with its subsidiaries, the “Group”) refers to the issue of 20,000,000 new shares at S$0.30 each in the capital of the Company pursuant to the initial public offering of its shares on May 16, 2007 (the “IPO”).

Further to the announcements made on February 15, 2008 and June 19, 2008, the Company wishes to update that it had further utilised approximately S$576,200 of the net proceeds raised from the IPO (the “IPO Proceeds”) to grow its chain of specialty stores in Singapore and Malaysia. Accordingly, the Company had utilised a total of approximately S$895,100 for such purpose.

In view of the current economic conditions and reduction in customer spending, the Company wishes to re-allocate the balance of the IPO proceeds of approximately S$104,900 allocated to grow its chain of specialty stores in Singapore and Malaysia as general working capital of the Group.

The Company will continue to make periodic announcements on the use of the balance of the IPO Proceeds.


Acquisition And Subscription Of Shares In Nice Rhythms Limited

The Board of Directors of Sunshine Holdings Limited (the “Company”) announced that it had acquired the entire share capital of Nice Rhythms Limited, a company incorporated in the British Virgin Islands, comprising one share at an issued price of US$1 for a consideration of US$1/-.

Upon completion of the above acquisition of share, Nice Rhythms Limited would become a wholly-owned subsidiary of the Company. In addition, the Company had subscribed for ninety nine shares at an issued price of US$1 each in the capital of Nice Rhythms Limited for a consideration of US$99/-.


Disposal Of Shares In Associated Company

WBL Corporation Limited (”Wearnes”) announced that its wholly-owned subsidiary, Speedling Investment Pte Ltd (“Speedling Investment”), had disposed of its entire 30 per cent registered capital in Shenzhen Guangming Speedling Co., Ltd (“SZ Guangming Speedling”) for a cash consideration of RMB1.8 million which will result in a gain of S$0.37 million.

The purchase consideration was arrived at on a willing buyer and a willing seller basis.

SZ Guangming Speedling was a joint venture company formed by Speedling Investment and Shenzhen Guangming Group Co., Ltd and is engaged in the production and distribution of agricultural seedlings in Shenzhen, People’s Republic of China. Following the disposal, SZ Guangming Speedling shall no longer be an associated company of Wearnes.


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 a PRC certified supplier to the world’s largest train manufacturers, ALSTOM SA, Siemens and Changchun Bombardier. The Group’s customers included MNCs and PRC state-owned companies such as ALSTOM Transport SA, Siemens Transportation Systems Group, CNR Changchun Railway Vehicles Co., Ltd, CNR Tangshan Rolling Stock Works, Nanjing SR Puzhen Rail Transport Co., Ltd, CSR Zhuzhou Electric Locomotives, etc.

The Group is also involved in high profile projects such as the Beijing – Tianjin High Speed Train Project, Regional Line Phase 1 Project, Shanghai MRT Line 1 Extension Project, Shanghai MRT Line 1 Extension 2 Project, Shanghai Line 2 Extension 1 Project, Shanghai Yangpu MRT Line Phase 1, Shanghai Metro Lines 6, 7, 8, 9, 10 and 11 Projects, Shanghai Pearl Line Project, Shenzhen MRT Line 1 Extension Project, Guangzhou MRT Lines 2, 3 and 8 Projects, Tianjin MRT, Nanjing Metro Lines 1 and 2 Projects, the Circle Line project in Singapore, Metro Oslo MRT in Norway, Valero Rus Project in Russia, Desiro Mainline Project in Germany, Helsinki-St. Petersburg Project, Beijing Airport Terminal 3 and the Shenzhen Exhibition Centre. Midas also has a 32.5 per cent equity stake in a Sino-foreign joint venture, Nanjing SR Puzhen Rail Transport Co., Ltd, to engage in the development, manufacturing and sale of metro trains, bogies and their related parts.

In September 2007, Midas was named “2007 China’s Top Brand” by the General Administration of Quality Supervision, Inspection and Quarantine of the People’s Republic of China (“AQSIQ”). Midas was also included in Forbes Asia’s “Best Under A Billion” list for three years consecutively from 2006 to 2008.

 Date Open High Low Close Volume  
09 Jan 2009 0.520 0.535 0.515 0.525 11,511,000
08 Jan 2009 0.510 0.520 0.505 0.520 9,463,000
07 Jan 2009 0.545 0.550 0.515 0.520 21,968,000
06 Jan 2009 0.535 0.535 0.515 0.535 29,923,000
05 Jan 2009 0.505 0.535 0.505 0.530 44,917,000

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 10/11/2008.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
g Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares. Cash value does not include bank loans or other borrowings.

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