US Stocks Plummet, Send Dow To Worst June Since Depression
US stocks tumbled, sending the Dow Jones Industrial Average to its worst June since the Great Depression, as record oil prices, credit-market write-downs and a slowing economy threatened to extend a year-long profit slump. The Standard & Poor’s 500 Index plunged 38.82, or 2.9%, to 1,283.15, its biggest drop in 3 weeks. The Dow decreased 358.41, or 3%, to 11,453.42, its lowest since September 2006. The Nasdaq Composite Index sank 79.89, or 3.3%, to 2,321.37, its worst loss since January.

UOB Buys 15.38% Stake In Evergrowing Bank
United Overseas Bank have signed an agreement for the subscription of 260m ordinary shares in Evergrowing Bank Co., Ltd, China, representing approximately 15.38% of the enlarged issued capital of Evergrowing Bank. The investment in Evergrowing Bank offers UOB an opportunity to participate actively in the growth of the Chinese market.

Penguin Clinches US$200m Logistics Deal In Dubai
Penguin International, through wholly-owned subsidiary, Penguin Marine Offshore Services, has been awarded a logistics management contract to support the development of The World island project in Dubai. The contract is expected to generate potential revenue of US$200m over five years.

Thomson Medical’s Q3 FY08 Net Profit Improves 16%
Thomson Medical Centre announced that its net profit attributable to shareholders for the 3rd quarter of the financial year ending 31 August 2008 rose 16% to $2.85m, and revenue growth of 12.9% to $15.69m. The improved performance of the Group for the Q3 FY08 was attributed to higher revenue contributions of 13.2% and 11.5% by its Hospital Operations and Ancillary Services and Specialized and other Services respectively.

Sembcorp Expands China Water And Centralised Utilities Business
Sembcorp Industries has signed a Heads of Agreement (HoA) to form a benchhead for its utilities business in Qinzhou, China. The HoA between Sembcorp and the Qinzhou municipal government establishes an understanding for the joint development of centralised utilities projects to serve industrial customers in the Qinzhou Port Economic Development Zone. This includes the development of water supply and wastewater treatment projects, water recycling projects, as well as the development of other centralised utilities services.