Data issued earlier Wednesday showed that the consumer price index - a non-core measure of costs for goods and services - rose 7.5% from a year earlier.

Let us apply the concepts we have discussed over the past few weeks. Table 1 shows the ROE, ROA, PE, NAV and dividend yield of the 3 companies.

Upon completion, the acquisition will not only entrench Sky One’s industry position in China and Hong Kong but also allow the company to gain access into the lucrative Taiwan market.

Due to the huge strides that oil and coal prices have made over the year, energy counters have generally outperformed other sectors of the market.

During the past fortnight from 16 July onwards (I always write on Wednesdays nights), the Dow Jones Industrial Average jumped from a low of 10,918 on 16 July to a high of 11,698 on 23 July before retreating back to 11,100.

The volatility can be attributed to oil prices, which hit another new high while the DJIA traded at a two-year low but once oil prices started to fall, the DJIA began its rally.

We have reduced our estimates and assumed flat prices in 2009 owing to the reduced S’pore residential price momentum and lower AustraLand earnings.

Singapore’s First Ship Lease Trust (FSL) said that it aims to buy up to US$350m worth of vessels a year and that borrowing costs remain reasonable despite the credit crunch.

On a brighter note, oil prices took a breather over the past fortnight, falling below US$125 per barrel on speculation that fuel demand in Asia and the US may slow after near-record prices.

While all eyes are on China and India as promising markets for the future, there is however another huge market that also offers interesting opportunities - Indonesia with a population of 222m people.