Update...

US

• equity fell 41% in 2008, worst since 1931


• index component profits fell 17%, analyst expect full year drop of 8.5%

Failure of domestic car makers in US

• 3 million jobs will be lost in the 1st year


• personal income will fall by $150 billion


• goverment tax losses will amount to $156 billion over 3 years

Chrsyler do not receive financial support

• forced to declare bankrupcy


• US GDP will fall by 4% with auto production falling by 30-35%


• unemployment will shoot to 8-8.25%

SIA

• premium traffic accounts for 40% of their passenger revenue


• impact as corporate cutting cost and trending of long to short haul flights


• forex losses as revenue from Euro


• benefits in falling oil price offset by hedging costs


• world passenger traffic fall by 2.9% in september

Increase in ship piracy

• affecting routes between europe and asia


• shipping companies and export base companies will be further affected


• commodities like olam, noble, stx, nol

MAS

• GDP growth for 2008 3%


• growth for 2009 4-6%

Insurance next sector to be hit as investment losses rise sharply

synear

• possible turnaround play in next 6 months


• performance deteriorating as relocation of plants in progress

Paulson

• set to leave office end 2008


• question of cash injection reliability

Soros stated "deep recession inevitable"

OPEC

• meeting on 29th november


• market expect cut of 500k to 1.5 billion of supply


• OPEC lost control of pricing and requested non OPEC members to join in meeting


• oil traders active trading of PUT option @30-50 strike delivery feb 09

€China encouraging M&A in infrastructure and construction companies

• ST engg have established market share


• tat hong?

SATS JV with China counterparts to run airports in China

• partner being civil authority of China


• cash rich


• but airports are being owed $6 billion yuan, defaults?

China

• property in Fujian fell by 50% 4Q and 1Q09 expected to be worst


• sports industry are sharply affected by slow down with Chongx and Csports as highlights


• nylons price fall by 18% yoy with Liheng having the largest liquidity and apparel goods industry badly hit, target to fall to 24c before entering