SINGAPORE STOCK MARKET NEWS UPDATE 17APR08

- Straits Resources Ltd will split into two units, separating its coal and other assets to improve growth prospects. It said that its Singapore-listed Straits Asia Resources unit will hold the coal assets.

- Singapore’s Infocomm Development Authority has set Friday, June 13 as the day to launch true number portability.

- Sports footwear and apparel maker China Eratat will make its debut on the SGX mainboard at 9am today. The 163m shares offer priced at S$0.30 was about 1.2x subscribed.

- Parkway Life REIT is buying a distributing facility in Japan for S$35m that offers an initial net yield of 5.3%.

- In response to persistent rumors of a deal with German TUI’s Hapag Lloyd, Neptune Orient Lines just said it was looking at “all opportunities available to improve shareholder value”.

- Banyan Tree Holdings may set up more real estate development funds to support expansion in Japan and the Middle East.

- Singapore’s High Court has directed the majority owners of the Regent Garden condominium to complete the en bloc sale agreement with Allgreen Properties.

- Asia Pacific Breweries has launched locally-brewed Tiger beer for the India market.

- CWT has signed a MOU in Malaysia to pursue and develop logistics business opportunities in Malaysia.

- China's sizzling growth continued to slow a little in 1Q08, with GDP expanding 10.6% YoY.

- Singapore is the fifth most expensive location in terms of residential rentals in Asia and ninth globally according to an ECA Intl survey.