Deflation Fears Send Dow Below 8,000
The chilling prospect of a deflationary US economy and collapsed car industry sent Wall Street stocks on Thursday to their lowest levels since the financial crisis began. Investors took fright at labour department data that showed the cost of living plunged the most since records began in 1947, and the first decline in so-called core consumer prices, which exclude food and energy, in more than 25 years. The benchmark S&P 500 index was down 6.1% at 806.58, less than 4% away from an 11-year low. The Dow finished down 5.1% at 7997.28 while the Nasdaq Composite Index fell 6.5% to 1,386.42. The Chicago Board Options Exchange Volatility Index, known as Wall Street’s fear gauge, shot up 10.1% to 74.45, which indicated mounting signs of distress.

Keppel Secures Four Contracts Worth $340m
Keppel Corporation’s unit, Keppel Offshore & Marine, has secured a total of four contracts worth $340m through its subsidiaries for shipbuilding and repairing services. Majority of the contract works are expected to be completed by 2010.

Sino Constructin Wins Rmb219.7m Daqing Saertu Airport Project Contract
Sino Construction has, through its unit, Daqing City Dazheng Building Installation, been awarded a Rmb219.7m contract by Daqing Saertu Airport for the construction of a passenger terminal building and ancillary road infrastructure for the new Saertu Airport in Daqing City. Work has started in 4Q08 and is expected to be completed by 3Q09.

ComfortDelGro Acquires Kefford Group For A$149.2m
ComfortDelGro Corp has, through its unit, ComfortDelGro Cabcharge, inked a sale and purchase agreement to acquire Douglas Kefford, one of the oldest and largest bus operators in the State of Victoria with a share of 16% of the Australian bus market, for A$149.2m.

SGX Introduces Initiatives To Grow And Develop The TR Community
SGX will introduce 3 initiatives to grow and develop the trading representative (TR) community in Singapore. These consist of reductions in new TR fees from $4,050 to $300, new programme for TRs’ professional development and facilitating recruitment of new TRs by member firms.

Yoma Strategic Proposes To Acquire Additional 18.05% Stake In Plantation Resources
Yoma Strategic has, through its unit, Yoma Strategic Investments, proposed to acquire additional 18.05% equity interest in Plantation Resources, a company involved in plantation development and investment in the supply of agricultural crops and produce, on top of the 59.67% the company already owns. The purchase consideraton will be satisfied in full by the allotment and issue of 39.3m new shares in the capital of Yoma at issue price of $0.10 per share.

City Developments Establishes $1b Islamic Trust Certificate Programme
City Development has established a $1b unsecured Islamic Trust Certificate Programme. Under the programme, the company may issue, from time to time, Islamic trust certificates in series under any Shariah financing principles denominated in Singapore dollars and/or any other currencies on a syndicated or non-syndicated basis.

FDS Signs MOU To Acquire $5.4m Stake In Tongji Environment
FDS Networks has inked a non-legally binding Memorandum of Understanding with Belle Forte to acquire 20% equity interest costing $5.4m in the capital of Tongji Environment (Asia), which owns and operates 3 wastewater treatment plants and one sludge treatment plant in the PRC.