October update

After selling Aberdeen China Opportunities Fund and Schroder European Alpha Equity Fund in September, I have decided to sell Aberdeen GEM and Lion Capital Korea Fund in October.  Primary reason is the volatility of the current market and personally do not think this exuberant mood can sustain.  So I have decided to take profit and no longer hold any unit trusts.

Celestial announced on 30^th Oct to begin production on High Protein Nutrient Noodles and High Protein Nutrient Pastries.  The production is expected to begin in last quarter 2008.  The construction will be funded internally (funds raised from convertible bonds).

Kingsmen Creative announced as of 30^th Sept, they have confirmed contracts of approximately $118.1 millions (2006 $86 million).  The confirmed contracts are of a value that is higher than the total revenue of $108.95 mil in 2006.  Hence, it is expected that the group is going to grow its top and bottom line by at least 20% for FY2007.

Food Junction, a F&B group which I used to hold finally opened its food court in Beijing.  They have also brought in Japanese omelet rice Rakeru in Bugis Junction with plan of opening another 2 stores in Singapore.  All these are positive movement by the group and I will probably purchase a small stake of the group next week.

Apex-Pal which operates Sakae Sushi opened its first Sakae in New York.  I like the enthusiasm of Douglas Foo and his bold vision to transform Sakae to a global brand.  The risk comes from the execution and highly competitive market.  Can he do it?  With expected lower bottom line for FY 2007, I will wait for a lower entry price.

OSIM has cut its loss in 3^rd Quarter.  Its core earning is back on track though for months, the company is still suffering a loss.  While it is expected that Brookstone is going to be profitable in Q4, FY2007 will still result in the company still making a loss.  It is time to go back to the group to anticipate a turnaround for FY2008?  This will not be my top priority as I am uncertain of its performance in the near future.