SGX Insider & Substantial Shareholder Activity from 11 - 16 Dec 06

Here are some of the more significant transactions reported over the past week:

Capitacomm Trust, 08 Dec 06, Temasek Holdings, Sold 1,257,000 Shares
China Essence Group, 07 Dec 06, Value Partners Ltd, Bot 3,235,000 Shares
Ezra Holdings, 11 Dec 06, Lloyd George Investment Mgmt, Bot 175,000 Shares
First Engineering, 12 Dec 06, Affinity Asia Pacific Fund II, Bot 3,500,000 Shares
First Engineering, 14 Dec 06, Affinity Asia Pacific Fund II, Bot 2,264,000 Shares
Gallant Venture, 13 Dec 06, Transfer from Ascendas to Credit Suisss, 8,620,000 Shares
Hongguo Int'l Holdings, 07 Dec 06, Value Partners Ltd, Sold 3,650,000 Shares
HTL Int'l Holdings, 08 Dec 06, OCM Emerging Markets LP, Sold 1,159,000 Shares
Mediaring Ltd, 12 Dec 06, Paramount Assets Investments, Bot 7,990,000 Shares
Roly Int'l, 13 Dec 06, Moon Capital Management LP, Bot 5,505,000 Shares
Singapore Petroleum Co Ltd, Temasek Holdings, Bot 5,660,000 Shares
Sunningdale Tech Ltd, 12 Dec 06, New Smith Capital Partners, Sold 38,181,000 Shares
Unisteel Tech Ltd, 07 Dec 06, The Overlook Partners Fund LP, Sold 150,000 Shares
Unisteel Tech Ltd, 11 Dec 06, The Overlook Partners Fund LP, Sold 456,000 Shares
Unifiber, 12 Dec 06, Stark Investments (HK) Ltd, Bot 120,000,000 Shares
Venture Corp, Templeton Investment Counsel LLC, Sold 471,000 Shares

Insider and Subst. Shareholder sells remain on slightly higher than usual levels.

The US Market continues to be choppy over the past week but is still on a slight upward gradient. The market breadth oscillator still has some room on the upside. Both the FTSE and Nikkei Indices are in overbought territory while the NASDAQ Composite is approaching overbought level.

The US market had a boost of confidence from the lower than expected CPI and higher Industrial Production reports released last Friday. However, Core Inflation still remains high in the upper 2% range, and unless it falls faster than usual, an interest rate cut does not seem likely. The consumer saving is -9.7% of Disposal Personal Income, which means that savings and assets are being liquidated to fuel the retail spending, and according to Macroeconomic theory, a negative savings rate usually means lower GDP in the future.

Have a gd week!