1. Cosco (Singapore) has warned that it is likely to suffer a third quarter loss owing to depressed oil prices, a slump in the shipbuilding market as well as the tepid dry bulk shipping market.
2. China Sky Chemical Fibre has clarified that its chairman Wang Zhi Wei has resigned. as the counter resumed trading. He wishes to focus on his other businesses and spend more time with his family.
3. One of the directors of The Hour Glass, Ms Jannie Chan, sold 400,000 shares on Oct 22, yielding $290,000. This brings her deemed and direct stake down to 49.118 per cent.
4. Ipco International is investing in Hai Yang Zhong Huan Natural Gas. Hai Yang is owned by Chinese businessman Xin Rui Zhang, with wide natural gas industry contacts, especially in China's Shandong province.
5. Metech International is acquiring 9.03 per cent of Advance SCT for $1.35 million. This may rise to $2.7 million if certain conditions are met. Advance SCT is a key supplier of copper-based products worldwide.