Topsy-turvy. This word pretty much sums up the performance of local equities during the past six months, which flew by in an instant.

During this period, companies surrendered billions of dollars in market capitalisation, leaving shareholders sitting on massive paper losses. International financial institutions, once revered, found their reputation dented as the on-going sub-prime crisis forced more write-downs.

Concurrently, oil prices continued to tick upwards on the back of tight supply, coupled with tensions in the Middle East and Nigeria. Stagflation appears more probable in the US economy with each passing day.

One of the few bright spots left in the otherwise bearish market was the hot commodities sector, with companies such as Wilmar International and Noble Group emerging relatively unscathed.

So what can the average investor look forward to in the second half of the year? One thing for sure, volatility is here to stay at least for the near term, whether you like it or not. Even though a lot of companies are currently trading at undemanding valuations, investors must bear in mind that what is low can go even lower. Hence, we would like to reiterate our advice to thoroughly investigate the companies’ fundamentals before making any commitment.

For this issue, we have conducted an exclusive interview with Glenndle Sim, CEO of Mencast Holdings, a leading manufacturer of marine sterngear equipment that is poised to ride on the growth of the buoyant offshore oil and gas and marine industry.

At the same time, discover the future of fabric dyeing in China as we take a close watch at Mainboard newcomer China Fibretech and its expansion plans post-listing.

Onto our education series, we will be introducing the basics about warrants, an alternative investment instrument, which have become increasingly popular but are more suitable for the seasoned trader.