Equis Weekly Newsletter 8 April 2011 Issue No.

10 Regional Leaders:

CHINA Economy China's economic growth is to be slow but steady more Urbanization to exceed 70% by 2030: CASS more China hikes rates against inflation more China inflation may hit 6%, no end to tightening more China's growth to slow to 9.6% in 2011: ADB more HSBC PMI hits 27-month low point more Regulatory & Policies China 'opening wider' for foreign investment more China guards against imported inflation more Infrastructure China to build 56 more airports in five years more Qingdao port sees throughput up 13% in Q1 more China's Three Gorges Corp ready to invest $15b in Pakistan more PetroChina to build natural-gas storage tanks more Suntech and Peak International win UN green-energy contract more LDK Solar buys into US firm more China to raise RE tariffs within 2 years more China may double solar power capacity goal more

INDIA Economy FII investment doubles since Dec08; FDI grows gradually : RBI more Private equity investments in India double to $7.9 bn in 2010 more High oil prices to slow down Indias growth to 8.2%, Asias to 7.8%: ADB more India Incs credit quality peaking: Crisil more Regulatory & Policies Union cabinet clears creation of National clean energy fund more Govt to revamp economic intelligence agency more Corp ministry to seek review of MAT on LLPs more Pvt cos may need to go online with power projects progress more Infrastructure Macquarie SBI Infra invests $200 mn in GMR Airports more 3i invests about Rs 700 cr in road, power projects more Govt mulls China-like mega manufacturing hubs more ADB extends $250 mn loan for Bangalore metro rail project more Govt seeks World Bank assistance for 37,000 km roads more 28,000 MW power to go on stream this fiscal more

MALAYSIA Economy Malaysia exports up 10.7% in February more Malaysia central bank says to leave banking consolidation to the market more Regulatory & Policies Renewable Act 2010 passed in Dewan Rakyat more Infrastructure Alstom wins EUR 650m Malaysia power plant deal more Sime, TNB and Mitsui to study biogas potential at palm oil mills more Higher electricity consumption in southern Johor more Green fund to finance renewable energy in Malaysia more

INDONESIA Economy Indonesia rating raised by S&P to highest since '97 Asian financial crisis more Global investors start to return to Indonesia more Regulatory & Policies Indonesia market watchdog head: finalizing draft of dual-listing regulation more Infrastructure U.S. firms eye railways, airports in Indonesia more Petronas chooses partners for development of Indonesian gas field more Chevron to increase geothermal electricity in Indonesia more

PHILIPPINES Economy Philippine economy expected to grow 5% in 2011: ADB more Regulatory & Policies FIT rates for renewable energy to lift power costs more Switch to alternative fuel gets boost more Infrastructure Wind mill firm warns of financial woes as energy policy hangs more First Gen ups stake in EDC more Meralco power rate up this month more

VIETNAM Economy Vietnam to grow 7.2% from 2011-2015 more Vietnams economy: growing too fast more Regulatory & Policies Vietnam relaxed currency fixing, sending Vietnam dong to record low more Vietnam still lacks an effective policy framework for renewable energy development more Infrastructure Vietnam Electricity (EVN) to cut 2011 planned investment by 19% more Tianjin Alstom hydro, Hydrochina Zhongnan win $65 million deal in Vietnam more

THAILAND Economy ADB: Thai economy will grow 4.1% this year more Thailands economy to perform well in 2011, World Bank says more Regulatory & Policies Renewable energy developers bewail governments 400-MW cap on renewable energy more Diesel subsidy raised again more Infrastructure Thailand looks at cutting state ownership in PTT more Thai infrastructure plight more

Equis Weekly Newsletter 8 April 2011 Issue No. 10 Developed Economies:

AUSTRALIA Infrastructure Bligh's $300m U-turn on water more Foreign buyer for Griffin stations more Western Australia admits to Oakajee port and rail project blowouts more Spark Infrastructure assumes management of its destiny more Energy target is 'forcing up prices more

SOUTH KOREA Infrastructure Korea East West Power acquires 40% of Jamaican Public Service Company (JPSC) from Marubeni more SK Energy cuts fuel prices likely to be followed by other S. Korean refiners more Green Energy Expo kicks off in South Korea more

JAPAN Infrastructure Hitachi to revamp plan for nuclear power business through 2030 more Special Report: Japan power crunch could get worse in summer more Amid nuclear crisis, Japans Tepco planned new reactors more

www.equisfg.com

Singapore
Level 3, 81 Club Street Singapore #700-055 Phone: + 65 6222 00809 Fax: + 65 6222 4209

Hong Kong
Level 66, The Center, 99 Queen's Road, Central Hong Kong SAR Phone: + 852 3965 3197 Fax: + 852 3965 3222

India
Embassy Icon Annexe, Ground Floor Infantry Road, Bangalore, India Phone: + 91 80 2237 2402 Fax: + 91 80 2237 4400

DISCLAIMER: This newsletter contains proprietary information some or all of which may be legally privileged and/or is confidential. It is solely for the use of the intended recipient. The taking of any action in reliance upon, or any transmission, distribution, copying or printing of this message is strictly prohibited. Opinions, conclusions and other information in this message that do not relate to the official business of Equis Funds Group shall be understood as neither given nor endorsed by the Equis Funds Group.