Yongmao To Acquire 66% Interest In Beijing Yongmao Jiangong Machinery
Yongmao Holdings (Yongmao) announces that its wholly-owned subsidiary, Fushun Yongmao Construction Machinery has entered into a conditional agreement with Fushun Yongmao Industry to acquire 66% of the equity interest in Beijing Yongmao Jiangong Machinery (Beijian) for cash Rmb60m. Yongmao is currently operating at or close to full capacity at the manufacturing facility at which it presently operates. The proposed acquisition will enable Yongmao to increase its own production capacity within a short period of time. It will be able to obtain controlling interest in an established towercrane manufacturer in Beijing and strengthen its position as one of the leading towercrane manufacturers in PRC. Further, the proposed acquisition will allow Yongmao to integrate its operations with that of Beijian’s and enable it to enjoy operational synergies and cost savings.

Jaya Achieves Record $149.8m In Earnings For FY08
Jaya Holdings, a leading offshore shipping and shipbuilding group, set a new record in net attributable profit, raking in $149.8m for FY08 ended 30 June 2008. This represents an increase of 24% yoy despite flattish revenue of $307.2m. Jaya’s CEO, Chan Mun Lye said, “Prospects for Jaya look promising as we head into FY09 as current oil prices underpin extensive exploration work in the offshore sector. We believe demand for OSVs will remain firm. We are gearing up to build a larger and more sophisticated fleet of OSVs including anchor handling tug/supply, platform support and subsea vessels.” Jaya is rewarding its shareholders with a proposed final ordinary tax-exempt dividend of 7.5¢ per share, taking its total dividend per share for FY08 to 13¢. This payout ratio of 67% would provide a dividend yield of 9.8% at the closing price of $1.33 on 18 August.

Jurong Technologies Enters JV To Manufacture Energy Saving Light Bulbs
Jurong Technologies Industrial announces a joint venture with a European partner to design, develop and manufacture the highest lighting density output in the Market for a wide range of energy-saving compact fluorescent (CFL) light bulbs for the western markets. The JV aims to capitalise on initiatives by Europe and America to switch to energy-efficient lighting so as to reduce carbon dioxide emissions that are believed to contribute to global warming. The Company plans to invest up to US$50m in its new 500,000 sq ft Nusajaya, Johor, Malaysia facility, with a target to produce up to 50m light bulbs per month once the plant is completed. The Company has already secured orders for its new CFL products and plans to commence mass production from October 2008. Demand for CFL energy-saving bulbs is expected to accelerate through the efforts of the European Lamp Companies Federation, which has set an ambitious target to phase out conventional incandescent lamps in Europe and replace them with energy-saving CFL bulbs by 2015.

Food Empire’s MacCoffee Voted The Most Hardworking Singapore Brand
MacCoffee, Food Empire’s flagship brand is voted the most productive brand, making the most valuable contribution of 52% to the enterprise value of the Company according to Brand Finance, an international valuation agency based in UK. In the report published on 7 August 2008, MacCoffee was recognized as the most hardworking brand with a brand value of $170m that makes the most valuable contribution to its enterprise value, $326m. MacCoffee was created in 1994 and over the years, with its distinctive brand icon, it has become a household name in the 3-in-1 instant coffees in the core markets of Russia, Eastern Europe and Central Asia. As a result of the Company’s continuous investments in its tireless branding journey with more creative and active marketing, advertising and promotions, the Company has succeeded in building MacCoffee to be the leading brand in its category.