In a move that was widely anticipated for weeks – the US government nationalised Fannie Mae and Freddie Mac.

For the past month, speculations had mounted regarding the viability of the mortgage giants in the wake of huge losses. Although the bailout of the Fannie Mae and Freddie Mac brought relief to the financial markets, problems continue to plague the US economy and by-extension, the world.

US jobless rate climbed 6.1% in August, the highest in more than 4 years. A total of 84,000 jobs were lost last month, marking the eight successive months that the US economy had shed jobs. Concurrently, the Beige Book report released by the Fed, also painted a dismal view of the economy with slow consumer spending in most of the 12 Fed’s districts.

Oil prices trended towards US$100 a barrel reducing inflationary pressure, but failed to lift the markets as declining oil futures were assumed to be a result of a sluggish world economy.

Against the backdrop of negative news, volatility permeated regional bourses. The STI dipped below 2,600 before rebounding on news of the takeover of Fannie Mae and Freddie Mac, only to succumb to concerns over Lehman Brothers’ losses.

This issue, we turn the spotlight on China Kunda Technology Holdings. Engaged in the provision of precision moulds, plastic injection parts and IMD products to the electronics, electrical, automobile and specialised devices industries, the company appears set to ride on domestic and external demand for automobiles and high-end electronics.

As we are striving to improve our publications (both printed and on-line), we have included a 2-page survey to solicit the invaluable opinion of our readers. Readers who submit in their completed survey form will stand a chance to win a pair of complimentary movie tickets.

[At press-time, China Kunda Technology Holdings Limited has postponed its IPO. Hence, their IPO article has been removed]