Crude Oil Rises To Above US$144
July 3, crude oil rose to a record above US$144 a barrel in New York after US stockpiles fell unexpectedly to their lowest since January. Russian President Dmitry Medvedev said prices would climb to US$150. Medvedev, whose country is the world’s second-largest oil producer, also said high prices might slow global economic growth. Economists are forecasting the European Central Bank will raise interest rates today, spurring commodity buying as an inflation hedge.

Epure Acquires Water Technology Firm For Rmb208m
Epure International has bought a Chinese water technology firm for Rmb208m, boosting its orderbook to Rmb1.31b from Rmb1.16b. The full acquisition of Beijing Hi-Standard Water Treatment Equipment (HSWTE) will be funded from the proceeds of a placement deal last July, when a net Rmb318m was raised. The consideration is roughly 10 times HSWTE’s net earnings last year. Last year, HSWTE reported a net profit of approximately Rmb20.8m on revenue of about Rmb200m.

Federal Bags Oil Pipeline Deal In Indonesia
Federal International has secured a build, operate and own project for an oil pipeline in Indonesia’s East and Central Java. The project, valued at US$29m, is expected to generate revenue of about US$14m over the contract period of 33 months. Project planning had commenced in May 2008 and is scheduled to complete by January 2009.

Asia Tiger Clinches $19.83m Power Plant Project
Asia Tiger Group, through subsidiary Industrial Power Technology Pte Ltd, has won a $19.83m contract to build a rice husk-fired biomass power plant in Thailand’s Sakeo province. The power plant, to be built for JMJ Enterprise (Thailand), will have a capacity for 9.9 megawatts and will take about 20 to 22 months to complete.

DMX Wins Contract From Chinese Logistics Company
DMX Technologies Group has secured a Managed Security Services contract to provide managed security services for Anji-TNT Automotive Logistics Co. The latter is a leading specialised third-party logistics provider to the automotive market in China.

Yangzijiang Secures US$227m Deals in June
Yangzijiang Shipbuilding Holdings had in June 2008, secured shipbuilding contracts in respect of four vessels with an aggregate contract value of US$226.94m.