Update...

S chip property

• performance from commercial property project in ZhengZhou (good traffic and important wholesale center for woman's apparel
• Chongqing and Chengdu (inner cities) are less affected as domestic centered
• Citi: Chengdu property recovery since earthquake
• Hangzhou, capital of Zhejiang deteriorating
• Shanghai most resilient in high end residential as limited supplies

Fed rate going <1%>

• ST interest rates futures price cut in fed rate to 0.5% before dec 16 policy meeting
• May 1958, lowest average effective fed rate at 0.63%

GE in talks with GIC, temasek, CIC & China safe for funding

• GIC has 7% cash @ end march, about $17b

Banks need to call for new capital - Morgan stanley

• dbs, hsbs, standchart, maybank - core equity base must be at least 9% of risk weighted assets, now <9%
• DBS 7.5% needs USD 1.9billion, ocbc 10.4, uob 9.3
• current regulation is 6% but likely to tighten

Auto maker (GM, Ford motor, Chrysler)

• GM, largest US auto maker, has weeks left before running out of cash without fed aid
• GM must put up viability plans by dec 2 before congress decide on dec 8

straits asia gets USD300m loan from Stanchart

• refinance USD230m bridge loan due
• issue 35m warrants to Stanchart for 35m new shares @ $1.095 exercizable before may 2010
• repay installments USD125m within 15 months and remainder in may 2010