Daily Updates

Ascott Group Ltd. (SCOT SP): The biggest operator of serviceapartments in Europe and Asia said it entered into a preliminaryagreement with Bahrain-based Addax Investment Bank, which plansto set up a fund to buy at least 15 serviced residences in theMiddle East and North Africa by 2010. The properties will bemanaged by Ascott, the companies said. Ascott slid 1 Singaporecent, or 1.5 percent, to 67 cents.

AsiaPharm Group Ltd. (APHM SP): The China-based developerand maker of pharmaceuticals said it received approval fromChina's State Food and Drug Administration to start clinicaltrials to produce a drug in a capsule formula. The product isused to treat liver ailments, the company said. AsiaPharm wasunchanged at 61 Singapore cents.

GuocoLand Ltd. (GUOL SP): The Singapore property developercontrolled by Malaysian tycoon Quek Leng Chan said it won agovernment land auction to buy a site in Shanghai for 1.44billion yuan ($178 million). The site is located along the SuzhouRiver and is a 10-minute drive from the international airport.GuocoLand fell 1 cent, or 0.7 percent, to S$1.49.

Keppel Land Ltd. (KPLD SP): Singapore's third-largestdeveloper by assets said it will set up a real-estate investmenttrust known as K-REIT Asia, which will own four propertiesincluding Keppel Towers and Prudential Tower. Keppel will sellthe properties to the trust for S$630.7 million ($373 million) incash and shares. Shareholders of the developer will receive one unit of thetrust for every five shares of Keppel Land, the company said. Thetrust will probably start trading in the first quarter of 2006.Keppel Land rose 4 cents, or 1 percent, to S$3.88.

Midas Holdings Ltd. (MIDAS SP): The metal-products makersaid it set up a subsidiary in Beijing to import and exportaluminum alloy and other related products. Midas rose 1.5Singapore cents, or 4.2 percent, to 37.5 cents.

Linair Technologies Ltd. (LIN SP): The maker ofenvironmentally controlled exhaust systems and parts said full-year profit rose 16 percent to S$2.6 million from a year earlier,helped by increased revenue. Linair rose 1.5 Singapore cents, or8.1 percent, to 20 cents.

Singapore Telecommunications Ltd. (ST SP): Southeast Asia'slargest phone company was cut to ``neutral'' from ``overweight''by JPMorgan Chase & Co. Singapore Telecommunications rose 7 cents,or 2.9 percent, to S$2.47.

Teledata (Singapore) Ltd. (TELE SP): The provider oftelecommunications-related services said it expects to report apretax loss this year. The loss will be ``close'' to its losslast year because of decreased sales and after it set asideprovisions. The company reported a loss of S$4 million for theyear ended Dec. 31, 2004. Teledata climbed half a Singapore cent,or 17 percent, to 3.5 cents.