Dollar Rises To Six-Month High Against Euro As Oil Price Drops
The dollar rose to its highest since February against the euro on speculation a drop in the price of oil to a four-month low will support economic growth in the world’s largest energy consumer. The US currency advanced to its strongest level in more than two years versus the British pound as Hurricane Gustav weakened before making landfall in Louisiana. The US currency rose to US$1.4557 per euro, the highest since 14 February, before trading at US$1.4578 at 9:30 am in Tokyo from $1.4617 late yesterday (1 September). The dollar advanced to US$1.7863 versus the pound, the strongest since April 2006.

Pan Asian Water Secures $12m Worth Of New Contracts
Pan Asian Water Solutions announced that it has secured new contracts worth $12m in Singapore, Hong Kong and Ireland. These contracts are expected to be substantially fulfilled over the second half of FY08 and contribute positively to the Company’s FY08 earnings. The significant contracts secured include Newater Plant Project in Changi (Singapore), Singapore’s twin integrated resorts, Central Reclamation Phase 3 Project in Hong Kong and Significant piping contract in Ireland.

ST Engineering Wins $112m Contract From LTA
ST Engineering announced that its electronics arm, ST Electronics, has won a $112m contract from LTA for the supply of Half Height Platform Screen Doors (HHPSD) and its associated works for all existing elevated MRT stations. Work will commence in September this year and is expected to be completed in 2012. This contract award is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year. ST Electronics will design, supply, install and commission the HHPSD and deliver associated works for all 36 existing elevated MRT stations. This is the first such HHPSD retrofit project in Singapore and when completed in 2012, will further enhance commuter safety at all elevated MRT stations.

Wilmar Invests US$36m In Fortune Oil’s Integrated Gas Business
Fortune Oil announced that a conditional Subscription Agreement has been signed for an investment in Fortune Gas Investments Holdings, a newly created holding company for Fortune Oil s gas business, for US$72m. Wilmar International and Star Medal, a wholly-owned subsidiary of Kerry Holdings Limited, have each agreed to invest US$36m to acquire new shares in Fortune Gas representing 15% each of the enlarged share capital of Fortune Gas. Fortune Gas is a Hong Kong registered company holding all of the Company s gas operations, including gas distribution and coal bed methane. Fortune Oil will own 70% of the equity of Fortune Gas, thereby retaining control of the gas business. The cash raised from the Investment will be used to finance further expansion of the gas business.

Inter-Roller Secures $5.1m New Projects In India
Inter-Roller Engineering announced that it has been awarded a contract worth $5.1m to provide Baggage Handling Systems (BHS) to Amritsar and Trivandrum Airports in India. These projects involve relocation and installation of arrival and departure systems in both airports. In order to meet the rising passenger traffic, the company has been commissioned to complete these projects within the next 6 months. Inter-Roller’s presence in India has grown steadily over the last few years. Since the beginning of 2007, Inter-Roller has successfully secured contracts, both BHS and Air Cargo Handling Systems, in some 14 airports in India, making it the foreign company with one of the most BHS installations in India over the recent years.