US Stocks Plummet On Grim Economic Outlook
Fresh signs of the serious difficulties facing corporate America pushed Wall street stocks sharply lower for a second straight session. A host of big names such as General Motors and Ford neared or surpassed yearly lows in a heavy sell-off that took in all sectors and extended the losses endured in the market’s worst ever post-election day drop. The S&P 500 closed down 5% at 904.88 points while the Dow Jones Industrial Average tumbled 4.9% at 8,695.79. The Nasdaq Composite index fell 4.3% to 1,608.70.

Raffles Education Achieves 100% Growth In 1Q09 Net Profit
Mainboard-listed Raffles Education Corporation, the largest private education group in Asia-Pacific region, has achieved a 100% growth in 1Q09 net profit to $31.8m, on the back of a 36% increase in revenue to $53.2m. The company has proposed a first interim, tax-exempt dividend of 1.0 cent per share, to be paid in cash, or through an allotment of ordinary shares via the Scrip Dividend Scheme.

Wilmar Invests US$2.2m In Vietnamese Raw Rice Bran Processing Business
Wilmar International has, through its newly incorporated indirect subsidiary, Cam Vang, bought the remaining 32% of equity interest in Can Tho Branch from its JV partner, the National Company for Vegetables, Oils, Aromas and Cosmetics of Vietnam for US$2.2m. Can Tho Branch, which owns an ongoing raw rice bran processing business, will become 100% owned by Wilmar International after the transaction.

BH Global Marine Selected As Best Performer By ST Marine
BH Global Marine, a supply chain management company specialising in premium lightings, cables and electrical equipment for the marine and oil & gas industries, has been selected as one of the best performing company in ST Marine Annual Suppliers Performance Evaluation Survey. The company will be awarded privileges under the Preferred Suppliers’ Program.

Bonvests Proposes To Privatise Colex
Bonvests Holdings has proposed to privatise Colex Holdings, whom it currently holds equity interest of approximately 77.36%, by way of offering $0.14 per share to acquire the remaining shares of Colex from all its shareholders, its related corporations and their respective nominees. Upon completion of the above, Colex will be delisted and fully owned by Bonvests.

M1 Introduces Faster Mobile Broadband Speeds
M1 has become the first in Singapore and Asia to offer mobile broadband speeds of up to 14.4 Mbps (downlink) and 5.76 Mbps (uplink) with its newly upgraded High-Speed Packet Access network. The company will launch two new and related mobile broadband plans on 8 November at $51.36 and $69.30 per month.

China Merchants Reports 11% Growth In 3Q08 Net Profit
Mainboard-listed China Merchants Holdings (Pacific), has reported a 11% growth in 3Q08 to HK$253m. Profit contribution has mainly come from the company’s core business – toll roads in PRC. Net asset value per share also rose from HK$4.21 as at 31 December 2007 to HK$4.58 as at 30 September 2008.

City Developments Subsidiary Announces Profit Warning
City Developments’ Hong Kong listed subsidiary, City e-Solutions, has issued a profit warning in respect of its upcoming 3Q08 results. The company is expected to record unaudited net unrealised forex losses and unrealised losses on trading securities of about HK$59.1m. A further loss of about HK$35.9m arising from the same source is also expected to be recorded for October 2008.