Transaction of My Portfolio

Bought

Pacific Shipping Trust @ US$0.13

Transactions of My Portfolio

I have made the following changes to my portfolio over the past week:

Sold:

China XLX
China Energy
Babcock & Brown

Bought:
First Shipping Trust
Raffles Edu (averaging down)
Swiber (averaging down)

Sihuan Pharmaceutical earns spot in Forbes Asia’s list of 200 “Best under a billion” companies

Award recognises Sihuan’s achievement of consistent sales and earnings growth

Group will continue to widen its marketing network to enhance its leadership in China’s CV drug sector

SINGAPORE, 3 November 2008

SGX mainboard-listed Sihuan Pharmaceutical Holdings Group Ltd (Sihuan, the Group, 四环医药控股集团有限公司), a leading manufacturer of cardiocerebral vascular (CV) drugsin China, has earned a place in Forbes Asia Magazine’s list of 200 “Best under a billion”companies. It is the only Singapore-listed pharmaceutical company selected in 2008. The list is independently compiled by Forbes and updated yearly, as a means of recognising Asia’s top 200 public-listed companies with sales of less than US$1 billion.

To pick the companies, Forbes looks for consistent growth in both sales and net profit after tax and minority interest (PATMI) over three years. Sihuan secured a 98% rise in PATMI to RMB179.3 million after boosting turnover by 77%rise to RMB286.3 million in the year ended 31 December 2007 (FY07). It was able to achieve such solid growth because of robust demand for the Group’s wide range of CV as well as non-CV drugs in the PRC.

For the latest nine month-reporting period ended 30 September 2008 (9M FY08), Sihuan continued to deliver an impressive performance. It increased PATMI by 42% to RMB179.7 million, exceeding the full-year profit for FY07. The Group’s 9M FY08 sales surged to RMB366.1 million, driven by the strong take-up of its top products such as Kelinao, Anjieli and Chuanqing. Sales were also boosted by increasing acceptance of its other drugs such as QuAo/Ninxinao (cerebroprotein hydrolysate injections), which are distributed by Shenzhen Sihuan, the Group’s marketing and distribution arm.

Dr Che Fengsheng (车冯升), Sihuan’s Executive Chairman and Chief Executive Officer, said: “The award recognises our concerted efforts over the past few years to build up our sales and distribution networks. We will continue to penetrate new markets and widen our well-established marketing network so that Sihuan can enhance its leadership in China’s CVdrug sector.”

Sihuan expects the increased government support on developing the healthcare sector to help boost growth in demand for its drugs. Given its competitive strengths, the Group is well-positioned to seize any attractive opportunities that might arise from the growth in the healthcare and pharmaceutical sectors.