Good Morning Friends,

DJI plunged 248.42 points or 2.94% on weak retail sales data and concerns over steeper losses at banks worldwide.

Yesterday, STI closed up 2.9 points at 1764.72. Credit Suisse maintained ‘underweight’ on equities, remains cautious on domestic plays and especially banks. Phillip stated support for STI is at 1718, followed by 1600. JurTech shares dive 56% on news of OCBC demanding debt repayment within 3 weeks.

Our outlook for STI is generally bearish with 1st support at 1711, followed by 1638.

Results:
1. Ezra 1Q09 revenue up 149% while earnings dip 93%
2. Jets Technics 1H09 revenue up 12.6% but still in net loss position
3. Van Der Horst 1H09 revenue down 16% while earnings spike 285%
Others:
1. Tuan Sing expects 4Q08 to be in the red
2. Superbowl warns FY08 to record net loss