Singapore Stock Market News 2july08

Accoding to Dow Jones report, singapore listed stock Dayen Environmental (5BT.SG) fell 26.2% to record low of S$0.155, as investors convinced water treatment firm's planned foray into coal mining business all but over after company said Indonesian partner PT ATPK Resources (ATPK.JK) unable to carry out obligations under mining rights agreement signed in December. Announcement comes just weeks after Dayen unveiled new management team and business units, including a coal mining arm. While company says ATPK still committed to entering new coal mining contract, investors taking no chances, sending share price into tailspin. Stock has been on sustained decline since late May, likely to remain below S$0.20 until company comes out with more reassuring news.

other singapore share market related news :
- SIA has sold five Boeing 777 aircraft in its fleet to Pembroke Group, a unit of Standard Chartered, and leased these back.

- Olam International and Wilmar International have joined forces to acquire a one-fifth stake in PureCircle Ltd - a leading producer of natural sweeteners - for US$106.2m.

- Keppel Corp has entered into a S$794m joint venture with Tianjin Eco-City Investment and Development Co.

- SembCorp Marine has won a US$400m contract from AP Moller-Maersk to build a harsh environment offshore platform to be installed in the Danish sector of the North Sea.

- Parkway Hldgs' 40% Pantai Irama Ventures has agreed to buy a 50% in Gleneagles Hospital (Kuala Lumpur) for S$71.6m.

- DBS has entered into an agreement to invest a maximum of US$8.7m in Raffles Fund 1 Ltd. As part of its private equity portfolio, DBS will own no more than 29% of the company, which will invest primarily in technology-related venture capital funds.

- Epure International acquired water treatment equipment provider Beijing Hi-Standard Water Treatment Equipment Co., Ltd for RMB208m.

- Inflation is taking a toll on China's businesses, as two manufacturing surveys show that input prices are rising and weighing on commercial activity.

- Del Monte Pacific has found itself embroiled in controversy over the use of a highly toxic and regulated pesticide.