OKP Secures $6.8m JTC Contract
Leading home-grown infrastructure and civil engineering company OKP Holdings has secured a $6.78m contract from the JTC Corporation, through its unit, Eng Lam Contractors for the construction of roads and infrastructure for Tukang Estate Phase 1A. The contract is expected to contribute positively, but has no material impact on the EPS and NTA per share of the company for FY08 ending 31 December 08.

Keppel Corp’s Shipyard Secures Two Conversion Projects Worth $150m
Keppel Corp’s indirect unit, Keppel Shipyard, has secured contracts from repeat customers amounting to $150m for the upgrading, modification and conversion of two vessels. Work on the vessels is expected to commence in October 2008. The contracts are not expected to have material impact on the NTA and EPS of the company for FY08.

Youcan To Dispose Existing Inventory Of Ice Cream In Singapore
Frozen food and ice cream manufacturer in the PRC, Youcan Foods International announced that it will be disposing its inventory of ice cream in Singapore while waiting for AVA’s test results, so as to assure customers that that the its products are freshly produced and adhere to proper guidelines. Elsewhere in PRC, the company’s products have been taken for sample testing and so far these samples have been tested negative for melamine by the NCQSTAP.

Melamine Testing Drives Techcomp Sales up
Mainboard-listed Techcomp, China’s leading manufacturer and distributor for analytical and life science instruments, has experienced a surge in demand for their testing equipment following the China’s recent milk scandal. China’s leading dairy producers, like Mengniu, have purchased additional testing equipment from Techcomp to test for melamine contamination in their dairy products.

Darco Water Enters Into $40m Syndicated Loan Agreement
Mainboard-listed Darco Water Technologies has formally entered into a Syndicated Loan Facility Agreement with an international banking syndicate lead arranged by Raiffeisen Zentralbank Oesterreich AG Singapore Branch for a $40m term loan facility drawn over a span of 4 years. The line of credit will be mainly used to fund the company’s current projects, refinance bank borrowings and working capital requirements. The company’s current order-book stands at $578m with $109m to be delivered in FY08.

Equities Retreat Amid Money Market Freeze
Equities lost ground as bleak economic news in the US added to investor concerns about the continuing strains in the credit markets and caution over the fate of the US$700b US financial rescue package. US data on unemployment claims and factory orders rekindled recession jitters and overshadowed hints of rate cuts by the European Central Bank. The number of people filing for new jobless benefit claims rose to a seven-year high, and factory orders showed a steeper than expected drop in August. Strains in the money markets showed no signs of abating as three-month dollar interbank rates rose to 4.15%, up 5 basis points. The key measure of credit risk, the spread between three-month dollar Libor and expected official rates, also rose to record highs of 260bp, a three-fold jump since the start of September.