3 Mar 10:
The NAV of the Apollo Asia Fund fell 1.2% in February, to US$894.37: charts.

16 Feb 10:
The report of the UK Industry Taskforce on Peak Oil and Energy Security, 'The Oil Crunch: a wake-up call for the UK economy' is an excellent summary of the issues, with some particularly good charts, written by companies which use energy and need to be able to plan. Recommended.

The Jewel of Muscat sails from Oman today, and will call at Cochin, Galle, Penang and Malacca before her expected arrival in Singapore in June. The Jewel is a dhow built of African timber sewn with coconut rope, a replica of the C9th Belitung wreck, South East Asia's most exciting archaeological discovery of recent decades. The ship sank while returning from Tang China with large volumes of targeted-mass-market ceramics and some exquisite treasures of imperial quality. The best introduction to the story of the wrecked ship, her cargo, and this earlier age of prosperity and globalisation, is in a National Geographic article: 'Made in China: a 1,200-year-old shipwreck opens a window on ancient global trade'. Other links and references may be found at www.maritimeasia.ws/topic/chronology.html#Belitung. The reconstruction and voyage of the Jewel of Muscat may be followed at www.jewelofmuscat.tv.

The Year of the Tiger, according to my feng shui book, 'is a time of dramatic and often dangerous change. For some there will be success and adventure; for others disaster and calamity. Globally it is a time of political upheaval... hurricanes and typhoons of unusual severity... does not bode well for speculative dealings or financial risks.' Best wishes to all our investors for the year ahead.

2 Feb 10:
The NAV of the Apollo Asia Fund fell 1.5% in January, to US$904.95: charts. The cash level at end-Jan was 11%.

11 Jan 10:
Apollo Asia Fund's 4Q report has been posted.

Asia Sentinel notes a remarkable fall in Malaysia's foreign reserves: 'Malaysia's disastrous capital flight'.

6 Jan 10:
News on Aero Inventory remains lamentably inadequate, but the Financial Director website reports that KPMG expects to pay unsecured creditors 1p in the pound (which would imply a wipeout for equity holders, and on the basis of December 08 accounts a loss of approximately 50% of assets), and that KPMG billed GBP2.02m for its first month of work. The same website earlier reported that the Serious Fraud Office had responded to the directors' request and launched an investigation. The lack of formal reporting to shareholders continues to seem strange to us, as does the lack of any requirement to maintain an online public record of company statements and documents - which may still be required by the various parties involved, and would facilitate investigation by journalists, students of accounting, and those with a policy interest.

5 Jan 10:
The NAV of the Apollo Asia Fund fell 0.8% in December, to US$918.61: charts.

Claire Barnes

To What was new archive - 2009
To What was new archive - 2008
To What was new archive - 2007
To What was new archive - 2006
To What was new archive - 2005
To What was new archive - 2004
To What was new archive - 2003
To What was new archive - 2002
To What was new archive - 2001
To What was new archive - 2000
To What was new archive - 1999