Latest Update (30 Nov 2005)

The general market is not looking right. Decided to cut down some riskier positions...

LATEST PURCHASE:

+2,000 ICAP (1.11)

LATEST DISPOSALS:

-3,000 SCOMIMR (1.11). Bought during recent run-up 'cos thought the market had caught on. Got trapped and didnt reverse trade when it started going south, didnt expect it to fall so much. Closed at 1.06 today... if it keeps falling at this rate, will be buying more soon. Balance: 12,000

-5,000 SCOMI (1.03) Balance: 10,000

-20,000 APLI (0.405)Balance: 0 (decided to take small profit & cut positions)

Am sitting on quite substantial losses for SCOMIMR at the moment. Hope the contribution from latest acquisition of shipping business is reflected soon in next quarterly earnings announcement. Plus, it would be good if they could secure some coal carrying contracts for the coming Tg Bin power plant. Meanwhile acquisition of PT Tender Rigs completed.