Following Evraz’s offer made in Feb 08 to purchase up to 51% of Delong, Evraz and Best Decade (Delong’s majority shareholder) have further agreed to a lock-up deal, which will become effective upon the final closing date of the offer i.e. 18 Aug 08.

SYNOPSIS: Adjusting for weak confidence associated with the residential property sector, we apply a 30% discount to valuation to arrive at target price of $2.10, down from $2.75 previously.

Like it or not, we should be in a recession by now although the US government has yet to officially admit that we are already in one. We know that it is election year and the Republican government would want to paint as beautiful a picture as possible.

Fortifying its reputation as one of the leading distributors of menswear in Singapore, YGM has over 140 points of sale, including a loyal partnership with leading departmental stores such as Metro, Robinsons, OG, Isetan, Takashimaya and Tangs.

Investors enjoyed a much needed respite on 24 March after returning from the Easter holidays. Spurred by strong gains on Wall Street as well as bargain hunting, the STI rallied by more than 100 points to close higher at 2,927.79.

Now that all of the Singapore companies have reported the financial results, we are also very clear on how the three local banks have handled the subprime mortgage exposure.