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This circular by Ernst & Young should be issued soon.

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Appointment of Independent Financial Adviser

The Board of Directors (the " Board" ) of the Company refers to the announcement made on

23 January 2013 (the " Offer Announcement" ) by Credit Suisse (Singapore) Limited and

Nomura Singapore Limited, for and on behalf of Fincantieri Oil & Gas S.p.A. (the " Offeror" ), a

direct wholly-owned subsidiary of Fincantieri – Cantieri Navali Italiani S.p.A., in relation to the

mandatory unconditional cash offer (the " Offer" ) by the Offeror to acquire all the issued

ordinary shares (" Shares" ) in the capital of the Company, other than those already owned,

controlled or agreed to be acquired by the Offeror, its related corporations and their

respective nominees.

The Board wishes to inform shareholders of the Company (" Shareholders" ) that it has on

28 January 2013 appointed Ernst & Young Corporate Finance Pte. Ltd. (the " IFA" ) as the

independent financial adviser to advise the Directors of the Company who are considered

independent for the purposes of the Offer (the " Independent Directors" ).

A circular containing, inter alia, the advice of the IFA and the recommendation of the

Independent Directors in relation to the Offer (the " Circular" ) will be sent to Shareholders in

due course.

In the meantime, Shareholders are advised to exercise caution when dealing in their

Shares and to refrain from taking any action in relation to their Shares which may be

prejudicial to their interests until they or their advisers have considered the

information and the recommendations of the Independent Directors as well as the

advice of the IFA set out in the Circular to be issued in due course.

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MADRID (MarketWatch) — U.S. stock futures sagged in early trading on Thursday ahead of weekly jobless claims, which are expected to show a slight fall, as investors continue to question whether recent market gains are overdone.

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LONDON (MarketWatch) -- European stock markets dropped on Thursday, after data showed economic activity in the euro zone shrank a sharper-than-expected 0.6% in the fourth quarter of 2012. The Stoxx Europe 600 index XX:SXXP -0.29% lost 0.3% to 287.37, after wavering around the flat line earlier in the day. Germany's DAX 30 indexDX:DAX -1.05% fell 1.1% to 7,629.29, while France's CAC 40 index FR:PX1 -0.56% fell 0.6% to 3,677.22. Outside the euro zone, the U.K.'s FTSE 100 index UK:UKX -0.53% lost 0.5% to 6,325.22.

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FRANKFURT (MarketWatch) -- The euro-zone economy shrank 0.6% in the fourth quarter compared to the previous three months, marking a steeper-than-expected fall for the 17-nation shared-currency region, data from the European Union statistics agency Eurostat showed Thursday. Compared to the same period in 2011, gross domestic product contracted by 0.9%. Economists surveyed by Dow Jones Newswires had forecast a 0.4% quarterly contraction and a 0.7% year-on-year decline. The euro-zone reading comes after national data released earlier Thursday showed that Germany, Europe's largest economy, and France, the second-largest, each saw GDP shrink more than expected in the final three months of 2012. For the full year, euro-zone GDP shrank by 0.5%, Eurostat said.

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Crude Palm Oil Price

RM2497 ▼ 8 ▼ -0.32%

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Results are out.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_062343375FC33AD448257B12003212A0/$file/14022013AusGroupQ2FY2013ResultsPressReleaseRev10.pdf?openelement

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STX OSV SECURES CONTRACT FOR ONE OFFSHORE SUBSEA CONSTRUCTION VESSEL FOR SOLSTAD OFFSHORE

Singapore, 14 February, 2013 – STX OSV Holdings Limited (“STX OSV”), one of

the major global designers and shipbuilders of offshore and specialized vessels, is

pleased to announce that it has secured a new contract for the design and

construction of one Offshore Subsea Construction Vessel (“OSCV”) for Solstad

Offshore. The value of the contract is approximately NOK 600 million.

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GoldenAgr: BUY - TP $0.82 - OSK-DMG

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The next trigger period should be within these 2 weeks.

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As investors push equities and other risk assets to multi-year highs, one question being raised by analysts is whether upbeat markets are becoming too complacent. Lim Say Boon, chief investment officer at DBS Private Bank in Singapore, says while markets are probably not pricing in long-term structural problems such as huge debt levels in many major economies, the sharp and swift move into stocks this year do not reflect complacency. Instead, the rally in risk assets shows investors are finally taking a step back from high levels of fear and anxiety that ruled last year. In the past three months, shares in the U.S. and Asia have rallied more than 6 percent, while stocks in Europe have gained 4 percent, as fears about U.S. fiscal worries subside and economic data paint a brighter outlook for global growth. It's a sharp contrast to the middle of last year, when a surge in Spanish government bonds yields and worries about a break-up of the euro zone triggered a sharp fall in the euro and equity markets globally.

CNBC

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Maybank Kim Eng says Midas already has an order book worth RMB500 million. " If they can expand that to RMB1 billion, the share price will go up to $1."

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Crude Palm Oil Price

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Crude Palm Oil Price

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Consolidating at the moment.

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Stocks could continue their sideways drift Thursday, as investors watch a few big earnings, jobless claims and an anticipated merger agreement for American Airlines.

But traders are also looking for will decide the next big directional move for stocks, after the market's near 7 percent climb since the start of the year. " We've made a very rapid move very quickly. Consolidation is not surprising," said Wedbush Securities' Steve Massocca. " I think in lieu of correction, we're going to have sideways action."

CNBC

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Crude Palm Oil Ends Down Easing Stockpiles Support

Crude palm oil futures on Malaysia’s derivatives exchange ended lower Wednesday, pressured by an improved weather outlook for rival soy crops in South America.

The benchmark April contract at Bursa Malaysia Derivatives ended 2.2% lower at 2,504 ringgit a metric ton after moving in a MYR2,504-MYR2,558 range.

Losses in CBOT soyoil due to improving South American crop prospects dragged values lower, market participants said, although they noted that easing palm oil stockpiles in Malaysia, the world's no. 2 producer, and improving export demand provided some underlying support.

CBOT March soyoil is down 0.5% at 50.83 cents a pound in screen trade.

Data from industry regulator the Malaysian Palm Oil Board showed that stockpiles at the end of January eased 1.9% to 2.58 million tons, well below December's all-time record of 2.63 million tons. It also said CPO production in January fell 10% on month to 1.60 million tons.

" Improving export demand in February and expectations for another low production month could further reduce stockpiles to 2.50 million tons [by the end of February]," a trading executive at a Kuala Lumpur-based foreign commodities brokerage said.

On Saturday, cargo surveyor Intertek Agri Services said palm oil shipments in the first 10 days of February from Malaysia rose 18% to 440,830 tons. Another surveyor, SGS (Malaysia) Bhd., earlier said outbound sales for the same period surged 25% to 429,070 tons.

" Vessel line-up [at Malaysian ports] is decent," a shipping executive in Kuala Lumpur said, tipping overall exports in February to be higher thanks to increased shipments to major palm oil consuming countries China and India.

Trading volumes, however, were subdued as many investors and refiners are still away from their desks after the extended Lunar New Year weekend.

A total of 18,873 lots were traded compared with the usual 25,000-30,000 lots. Volume was 18,142 lots Friday. One lot is equivalent to 25 tons.

Open interest on the BMD was 175,403 lots versus 177,268 lots Friday.

In the cash market, refined palm olein for March shipment was offered around $855/ton, free on board Malaysian ports, said a Singapore-based physical market broker.

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The Year of The Long Snakes Where Shorts Will Be Squeezzzeeeee.........

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FSSTI now needs to trade above 3,305 for further upside towards 3,400 - UOBKH

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Ready to move up soon after squeezing until boh chun for the syndicates.