Harlem New York Real Estate

Welcome to Harlem is the site that was started in February 2006 is a where businesses and organizations can reach the public, and where residents and visitors can access neighborhood information such as business listings, event notifications, and dining, shopping, and entertainment options. We are setting up a visitor center in our new office space, where we will answer questions and refer visitors to places and events in Harlem. Welcome Harlem, gives information to tourist on events and activities that are happening in Harlem. Harlem New York Real Estate consist of shopping, to a feet-stomping gospel brunch at a famous Black churches, or lead you on a walk through historic neighborhoods where American history was made. There are some many things that are happening in Harlem and you do not know where to start, follow one of these tours and it will ensure that you make the best use of your time and also ensure that you see everything there is to be seen in Harlem.

HLN Technologies

�� Story: HLN has shed 41% since July amid broad market correction. Although the stock has bounced off recent low of S$0.495, it has underperformed other small caps in price recovery despite strong interim results and intact fundamentals. �� Point: Our recent update with management indicated healthy business flows in general. Orders from Dyson have been stronger than expected which helps to mitigate a smartphone hiccup, where customer has to delay delivery due to a technical problem with service provider. As HLN’s customer is maintaining the projected lifetime volume and other businesses are gaining traction, there is no need to change our assumptions at this juncture. We believe HLN remains on track to meet our projected EPS growth of 75% and 99% for FY07 and FY08 respectively. �� Relevance: After the selloff, HLN is undemanding at 5.4x FY08 earnings and only PEG of 0.06x considering its strong earnings recovery and good growth potential. Maintain Buy with unchanged target price of S$1.21 based on 12x FY08 earnings.

R H Energy Ltd

Wins contracts worth US$21.2m. R H Energy Ltd (RHE) announced that it has won 2 contracts from Sinopec totalling US$21.2m. The first is a US$7.7m contract to provide directional flow control valve system at the Puguang Gas Field. This project will be delivered in 2Q08. The second is a US$13.5m contract, as mentioned in our previous reports, to provide an emergency shut down system for a pipeline transporting natural gas downstream from the Puguang Gas Field. This contract will be delivered in 3 shipments spanning 1Q08 to 3Q08. FY08 orders represent 41% of our forecasts. These contracts bring RHE's outstanding order book to US$29.1m, of which US$7.6m will be recognised in 2H07 and US$21.5m will be recognised in FY08. To put the numbers in perspective, the secured contracts for FY08 already exceeds FY06's total revenue of US$17.0m, and represents 41% of our forecasted top-line of US$52.5m for FY08. With these major deals in its bag, RHE will enter FY08 on a strong footing. No updates on new orders for 2H07. Since our last report, RHE's secured outstanding orders for 2H07 stood at US$7.6m. This figure remains unchanged. To recap, management is aiming for another US$20m worth of deals to be secured and delivered in 2H07. Our FY07 forecast for a US$33.1m top-line hinges on its ability to meet this target. We will be able to ascertain the achievability of this target in October 2007, when there is clearer visibility of RHE's order book. Maintain BUY. RHE is beginning to prove its ability to secure large-scale projects. The US$21.2m worth of contracts brings RHE a few notches closer to our FY08 estimates. We maintain our BUY rating with fair value estimate of S$0.69 based on 16x FY08 PER.

Permanent eye makeup

Surgery whether cosmetic or health, every operations is important and must be taken seriously. It is important to find a clinic that is professional and licensed. MPI Clinic in La Jolla, CA offers permanent makeup to enhance the facial features. After the procedure, the effects last anywhere between 1 – 5 years. Permanent makeup is the latest in the cosmetics industry. By choosing MPI Clinic, you are choosing the most sanitary and professional permanent makeup clinic. Laura Rappaport is not only a licensed makeup artist, but she is also a Registered Nurse and offers Sedation Permanent Makeup. This are not fly by night shops but permanent shops where every client is treated as a single important customer. Therefore being a permanent makeup, there is need to have a few conslutants before the procedures can be carried out. some of the procedures carried out are lash enhancement, eyeliners, Permanent eye makeup are others. So if you want professional work done on your face get the professionals.

Midas

�� Midas’s 32.5% joint venture company Nanjing SR Puzhen Rail Transport (NSRPRT) and consortium partners secured RMB2.16bln contract to supply 41 train sets (246 train cars) for the Shanghai Metro Line 10 project. �� NSRPRT has an estimated 66.7% share of the contract, translating to RMB1.441bln. This contract is expected to be fulfilled between 2009 and 2011. �� These metro train cars would be the first batch of train cars in China equipped with automated driverless capability and reaffirms the market’s confidence in NSRPRT’s ability to meet new tech requirements and deliver top quality products. �� As NSRPRT is one of 4 rolling stock companies approved to undertake metro train projects on a nation wide basis in China, and given the rapid rail infrastructure expansion plans in China, the company will continue to be a key beneficiary. �� As a result, we believe there will be more contract announcements going forward which will benefit Midas’s stock price. �� With the stock trading at an undemanding forward PE of 25x versus its expected growth rate of 40- 50% as well as its peer Zhuzhou CSR Times’ forward PE of 38x, we maintain BUY.

Seksun

�� Seksun rose to an intra day high of 68 cents per share yesterday before closing at 65.5 cents (+7.5 cents) on 8.859mln shares, above its average of 1- 3 mln shares in the last 2-3 weeks on the back of takeover rumours. �� The company was queried by SGX for the significant rise in trading vol and share price yesterday. �� The company said that they are in confidential discussions in respect of a possible transaction, but added that there is no certainty that a binding agreement will be entered into between the parties. �� During the recent market carnage, the stock had hit a low of 57 cents per share, down from its July’07 high of 75 cents per share. �� During the last 3 months, the stock had hit a low of 55 cents per share and high of 75 cents per share. �� We had downgraded the stock to a HOLD on 13 Aug’07 (at 67.5 cents per share) as the stock has risen over 80+% from our initial buy recommendation and its forward PE of 10x only at a slight discount to MMI, Brilliant and Amtek’s takeover PE of 11x. �� Besides, looking at the takeover table on the next page suggest that most of the takeover news is likely in the price with maybe a small upside potential when the news is finally annnounced. Hence, we see no reason to change our HOLD

Vacation homes in Orlando

Tired of looking for a place with all the entertainment to fit every member of the family. Look no further why not go on an Orlando Vacation, why don't you take a step further any buy a Vacation homes in Orlando. Orlando the city with 52 theme parks, a short drive to the beach, everything for everyone not matter how old or how young you are. Something for the young and old is the Disney World. Check out the rides, the souveniors..... How about that golf game with the spouse. Orlando is truly a place for the family and also a great place to retire. So think about it.

Jaya

Jaya reported a net profit of S$120.8m (+13% yoy) for FY07. Effective tax waslower at 11% compared 16% in FY06, due to the earnings mix. FY07 registereda higher portion of tax-exempt earnings (i.e. offshore shipping and gains fromvessel sales) while taxable shipbuilding earnings were lower. Gains from vesselsales totalled S$38.6m in FY07, 50% higher than FY06’s S$25.7m. Eightvessels were sold in FY07.Excluding gains from vessel sales, net profit in FY07 was S$84.7m, flatcompared to FY06’s S$85.0m. Offshore Shipping net profit (ex gains fromvessel sales) rose 52% to S$30.5m in FY07. Despite a lower fleet of 28 vesselsas of end-FY07 compared with 33 vessels as of end-FY06, fleet utilisation wasmarginally higher at 81% compared with 79% in FY06 and average revenue pervessel charter day was 27% higher at S$8,249 in FY07 compared with S$6,493in FY06. Conventional shipping continued to contribute marginal earnings asthere is only one vessel left in the fleet. Shipbuilding net profit fell 16% fromS$61.7m in FY06 to S$52.1m in FY07.Going forward, Jaya expects the number of newbuild deliveries will rise from 11in FY07 to 18, 24 and 21 in FY08, FY09 and FY10 respectively. Sustainingearnings will depend on large gains from vessel sales being maintained. ForJaya, shipbuilding and vessel sales are inter-changeable as vessels that areordered on a speculative basis, if they are sold after completion, they aretreated as vessel sales whereas if the same vessels are sold when they areunder construction, they are recognised under shipbuilding. Hence, vesselsales should be viewed as operational transactions and not one-off items. Weraise our FY08 and FY09 net profit forecasts from S$105.0m and S$93.5mrespectively to S$133.0m and S$140.0m on more aggressive gains from vesselsales and shipbuilding earnings, and initiate our FY10 forecast at S$150.0m.Nevertheless, Jaya is already on a large earnings base. Compared with someof the other offshore & marine stocks, its earnings growth will be relativelymodest. There are hopes that M&A exercises could be a share price catalyst.However, such exercises are not in sight at this junction. As such we remainneutral on Jaya and maintain our HOLD recommendation. Against a 3-yearCAGR growth of 7.5%, we value Jaya at S$1.80 or 10x FY09 earnings (20%discount to Singapore’s small and mid-cap O&M sector’s PE rating of 12.5x).

CapitaLand strengthens residential presence in Vietnam.

CapitaLand strengthens residential presence in Vietnam.Capitaland announced its plans to develop a fourth residential site in Ho ChiMinh City (HCMC) in partnership with Azure City Co (Azure). CapitaLand’sequity interest will be 75% amounting to US$32.25m (S$48.8m) and Azureholding the remaining 25% stake. Capitaland plans to build 1200 luxurious highrise apartments and a retail component over the next three to four years. Thefirst phase of the project is expected to launch in 4Q08.Vietnam offers an attractive business environment due to the improvedframework and transparency, tax incentives and more recently its WTO entryprovides greater market access. The average GDP growth rate for Vietnam hasbeen 7.8% pa over the last five years with 2007 GDP target of 8.5%. HCMC iscurrently experiencing a property boom supported by the rising affluence amonglocals, increasing affordability levels and their preference to invest in real estateas against other investment vehicles. The move by CapitaLand is in line withtheir expansion and diversification strategy by setting strong presence in theAsia’s growth cities and benefit from the property upcycle in that region.