By: musicwhiz The second half of June 2008 was peppered with bits of news from the companies I own. Ezra announced the completion of their first FPSO (under 48.9% owned EOC) and the clinching of a significant charter contract worth US$400 million over 3 years. I remember Ezra first announcing the news of the FPSO back in October 2006 and the buzz surrounding the news at the time. Now, the company is poised to continue growing as it undertakes expansion into the deepwater oil and gas segment. Boustead was also relatively active in announcing news (please refer to the section below on Boustead for more information). With respect to the economy, the flow of data continues to pour in relentlessly from Wall Street, on everything from factory output, unemployment to inflation. It’s a wonder one does not go crazy from the constant influx of information ! The most important and note-worthy piece of news is that the USA Federal Reserve has kept the Federal Funds Rate capped at 2% (which was largely anticipated) due to fears over mounting inflation. Back in sunny Singapore, inflation for May 2008 managed to stay “constant” at 7.5%, despite consensus estimates that inflation would hit close to 8%. Wow, what a relief, I am SO HAPPY that inflation is ONLY 7.5% (mind the sarcasm). The reporting season for 1H FY 2008 will begin in late July 2008, and I am expecting results and dividend announcements for both Suntec REIT and FSL Trust. The rest of the results are expected to flow in during mid to late August 2008, and Annual Reports for Pacific Andes and Boustead should also come in by then and will be separately reviewed on this blog. Below is the summary of my investments and related news as at June 30, 2008 (STI at 2,947.54 points).:- Read more...