Samudera Sails Into Yangon Market
As part of its effort to expand its network of services, leading regional container line Samudera Shipping Line, is launching a new service called the Yangon Express (YGX) that will link Myanmar directly with markets in the Southeast Asia region. Dhrubajyoti Das, Executive Director said, “The launch of the YGX service will help us to capitalize on growing trade activities in Yangon. It is a testimony of Samudera’s strong commitment in developing comprehensive service coverage. With the addition of YGX to our existing services, our customers can now enjoy even better coverage, as Samudera will be able to provide connectivity from Yangon to both the east and west coast of the Indian Subcontinent, South East Asia, as well as China; and vice versa.”

Keppel Shipyard Secures $110m Contracts From Repeat Customers
Keppel Shipyard’s excellent track record sees it secure contracts amounting to $110m for the upgrading, modification and conversation of three vessels from as many customers. Executive Director of Keppel Shipyard, Nelson Yeo said, “I am glad that our previous collaborations with various owners and operators have convinced them that Keppel Shipyard is the shipyard for them. We will continue to enhance our partnership with our customers to provide safe and high quality services in the current tight market conditions.”

Dayen Secures 2 New Projects Worth $16m
Catalist-listed, Dayen Environmental, one of Asia’s leading environmental engineering specialists providing integrated systems for water and wastewater treatment, has clinched two contracts which will contribute some $16m to the Group’s revenue FY09. One of the contract, awarded by PUB is expected to be completed by 3Q09 while the other contract, which is based in Papua New Guinea, is expected to be completed by 4Q09.

Oceanus’ 1H08 Sales Surge 349% To Rmb181.4m
Oceanus Group, a marine aquaculture specialist focusing on large-scale, land-based industrialised production and sale of premium Japanese Abalone in China, reported a 349% jump in sales of aquaculture products to Rmb181.4m on robust demand for the seafood delicacy for the six months ended 30 June 2008. This sterling interim performance had resulted in the Group surpassing FY07 sales of Rmb109.6m.

Australand Hit By Revaluation & Writedown
Property revaluation and project writedown have resulted in CapitaLand’s Australian subsidiary, Australand, reporting a 79% year-on-year fall in net profit to A$25.6m for the 1H08. The Company’s investment property assets had been revalued on 30 June, resulting in a net reduction in asset value of A$7.3m while the carrying values of its residential assets had been reviewed in light of the current market conditions resulting in a write-down of A$34.7m. Notwithstanding the unrealised losses from the above, half year operating profit rose 6% on the prior year to A$67.5m. Earnings per stapled security, on an operating profit after tax basis, were 7.3 Australian cents, up from 6.9.

K-REIT’s Distributable Income Up 170% to $25.6m in 1H08
K-REIT Asia’s 1H08 distributable income rose 169.8% to $25.6m, from $9.5m in 2007. DPU for the first six months of the year rose 0.8% to 3.94 cents, from 3.91 cents in 2007. The better showing was mainly due to income from its one-third stake in One Raffles Quay, which was absent in 1H07. K-REIT also saw better rental income, with higher rents achieved for new and renewed leases, as well as improved occupancy. The average gross rental rate for investment property held directly by K-REIT rose to $5.66 psf in June 2008, from $4.28 psf a year earlier.