The Business Times, 12 November 2008

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Microfilm: NL29538
Total Pages: 32
1 32 The Business Times
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  • Title Section
    Lock icon Masthead
    20 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg a_P A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 197/08/2008 Wednesday, November 12,2008
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  • Article, Illustration
    Lock icon Sands skimps on Macau, bets on S'pore
    991 1  -  ARTHUR SIM Casino operator will scale back Cotai Strip development to focus on integrated resort here [SINGAPORE] With its resources curtailed by the downturn, Las Vegas Sands (LVS) has been forced to weigh and choose and it has decided to bet big on
    AFP  -  991 words
  • Article
    Lock icon Interest rates fall to five-year low
    615 1  -  SIOW LI SEN 3-month Sibor plunges to 0.89%; borrowers may gain, savers may be hit [SINGAPORE] Interest rates have plunged to near five-year lows as loan demand falls off a cliff even as governments inject liquidity to get credit flowing again. Yesterday, the key
    615 words
  • MARKETS DIGEST
    • Article
      Lock icon PRIME RATES
      29 1 Bloomberg SINGAPORE 5.38 MALAYSIA 6.72 HONG KONG 5.25 INDONESIA 16.725 TAIWAN 6.316 JAPAN 1.875 KOREA 9.33 BRITAIN 4.50 US 4.00 CANADA 4.00 SWITZERLAND 2.52 INDIA 13.75 Source:
      Bloomberg  -  29 words
    • Article
      Lock icon MARKETS
      48 1 uesi iam KL COMP 894.60 -9.64 NIKKEI 225 8,809.30 -272.13 HANG SENG 14,040.90 -703.73 SET INDEX 442.31 -14.13 JAKARTA COMP 1,336.56 -4.12 MANILA COMP 1,948.22 +9.25 SEOUL COMP 1,128.73 -23.73 SHENZHEN B 241.93 -3.18 MUMBAI IND 9,839.69 -696.47 11AM EST Cham DOW 8,601.33 -269.21 NASDAQ 1,570.22 -46.52
      48 words
    • Article
      Lock icon FOREX
      42 1 IS$ (S$ ier US$) 1.501 (US$/S$ )er 1.558 2.338 :uro (USS/SS/E) 1.272 1.910 Foreign currency per US$ S$ 'EN 97.60 65.00 3.583 2.387 IK$ 7.750 5.163 !AHT 34.95 23.28 lUPIAH 11,325 7,544 lENMINBI 6.825 4.547 INDIAN RUPEE 47.66 31.75 1.500 0.999
      42 words
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      1 1 8"*****."*****4'
      1 words
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      89 1 Inveiiit et Fecit invented and made The motto of a contemporary watchmaker building his own history. wjf^E lf> ft __|r___fL-_nJ f Octa Automatique L ifita____^l With +120 hours power reserve and sjßjt El__^ moon phases |l_| Caliber FPJ 1300 in 18k solid gold Platinum case Dial in silver EST. MjfiW
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  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      50 1 TRANSPORT HUB ,fL COMMENTARY I MOTORING I EXECUTIVE MONEY -aafc" wmwmwr Growth potential in H_«i Spare the job, Mercedes bucks B High default rates likely marine cargo insurance jfl Z save the economy Oct trend *~m-mf\ P in bond markets RAGE 18 zdmi I PAGE 2 PAGE 21 PAGE 32
      50 words
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  • TOP STORIES
    • Article
      Lock icon Spare the job, save the economy
      931 2  -  WONG WEI KONG COMMENTARY As economy banks on consumers to spend, DBS move sends wrong signal AROUND the world, governments are putting in place stimulus packages and reflation policies to help tackle what is widely regarded as the worst global recession since World War
      931 words
    • Article, Illustration
      Lock icon Bank lending flags as economy slows
      708 2  -  CONRAD TAN Consumer loans rise at sluggish pace; credit card bad debt creeps up [SINGAPORE] Bank lending slowed in September as the pace of growth in consumer loans fell to its lowest in a year, the latest figures from the Monetary Authority of Singapore
      JOSEPH NAIR  -  708 words
    • Article
      Lock icon Redas offers more insights after bleak reports
      436 2  -  UMA SHANKARI It calls meeting to advise analysts that LIRA data may not give full picture [SINGAPORE] The recent string of negative reports on the property market has prompted the Real Estate Developers' Association of Singapore (Redas) to engage analysts and offer them
      436 words
    • THREE-MINUTE DIGEST
      • Article
        Lock icon Sands skimps on Macau, bets on S'pore
        74 2 WITH its resources curtailed by the downturn, Las Vegas Sands has been forced to weigh and choose. It has decided to bet big on the construction at the Marina Bay Sands and put its Macau expansion on the backburner for now. Sands expects
        74 words
      • Article
        Lock icon Bank lending flags as economy slows
        72 2 BANK lending slowed in September as the pace of growth in consumer loans fell to its lowest in a year, the latest figures from the Monetary Authority of Singapore show. Housing loans and car loans the two biggest categories of consumer lending both showed
        72 words
      • Article
        Lock icon Only govt aid can prevent GM's collapse: analysts
        77 2 GENERAL Motors is being pushed closer to bankruptcy as it waits to learn whether the car industry will win a new round of government loans. Only federal aid can prevent a collapse by the largest US carmaker, analysts said as the shares
        77 words
      • Article
        Lock icon Oct M&A value hits lowest level this year
        61 2 MERGERS and acquisitions in Singapore shrank to USSSO4 million in October, its lowest level this year, figures from data firm Dealogic show. The previous low of US$535 million for the year was seen in August. All other months this year saw Singapore-targeted
        61 words
      • Article
        Lock icon SingTel reports big subscriber gains in Q3
        92 2 AN exclusive bite at Apple's iPhone 3G has helped put Singapore Telecom's mobile subscriber base in the pink of health, with the operator chalking up the biggest subscriber gains in the third quarter of this year. Sing Tel added 45,000 new post-paid mobile
        92 words
      • Article
        Lock icon Health tourism sector hit by economic crisis
        70 2 THE number of foreign patients at Parkway Holdings hospitals dipped 5-7 per cent in the latest quarter a sign that the medical tourism sector is ailing amid the economic downturn. The drop reported by the biggest private healthcare operator here has raised doubts
        70 words
      • Article
        Lock icon US thrifts facing tremendous pressure: regulator
        47 2 THE US thrift industry is "under tremendous pressure" and is handicapped by charters forcing them to concentrate on a single lending sector such as home mortgages, the director of the Office of Thrift Supervision said on Monday. ECONOMY WATCH, PAGE 12
        47 words
    • Article
      Lock icon GM's skid quickens as bankruptcy fears rise
      687 4 Bloomberg, Reuters, NYT Analysts say it needs federal aid to avoid collapse; shares plunge to 59-year low [WASHINGTON] General Motors Corp, burning cash as US sales slide, is being pushed closer to bankruptcy as it waits to learn whether the auto industry will
      – Bloomberg, Reuters, NYT  -  687 words
    • Article, Illustration
      Lock icon Emerging signs of a slowdown
      916 4  -  GREG LOWE FLASHPOINT: THAILAND THAILAND'S economic fundamentals are sound enough to ride out the global financial crisis, though the domestic political turmoil is making a bad situation worse, experts say. But the country remains vulnerable to a wave of indirect effects. Exports and tourism are
      : 801, BOTJhai Customs Department; AP  -  916 words
    • Article
      Lock icon Australia stares at prospect of first recession in 20 years
      581 4 Bloomberg Falling demand for commodities slows export earnings [SYDNEY] Australia, which escaped the 1997 Asian financial crisis and the dot-corn bust later, is facing the prospect of its first recession in almost two decades. Falling global demand for commodities threatens
      Bloomberg  -  581 words
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      Lock icon Page 3 Advertisements Column 1
      186 3 Homes in Australia, Canada, Hong Kong, Malaysia and the UK now have one thing in common. They can all be connected through one bank in Singapore. Perhaps it's time you had a Gold Conversation. Discover Citibank's latest innovation, Global Home Equity a wealth management solution that integrates your global property
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      40 4 Raffles Conversations 2008 EDITION 52 interviews by Business Times journalists At AT AwT AT B^^U AT/AmW AT AM MW^^^ -B---. >. AT aW \t^ 4 m AT ___T-_ _r >- Raffles Conversations \Yv^\\\ \\\V*' AcollectionfromThe Business Times <. V X. %,\Z% Availableatallleadingbookstores V\>
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Oct M&A value hits lowest level this year
      405 5  -  JAMIE LEE Spore-targeted M&A value in month sinks to USsso4m, says Dealogic MERGERS and acquisitions (M&A) in Singapore shrank to US$5O4 million in October, its lowest level this year, figures from data firm Dealogic show. The previous low of US$535 million for
      FILE PHOTO  -  405 words
    • Article
      Lock icon ST Marine clinches $200m navy deal
      176 5  -  VINCENT WEE Singapore Technologies Engineering's marine unit, ST Marine, has secured a $200 million contract to design and build five vessels for an Asia-Pacific navy. Under the deal believed to be with the Royal Thai Navy ST Marine will design and build a 141-metre
      176 words
    • Article
      Lock icon Be wary of rising complacency
      794 5  -  R SIVANITHY SIX weeks ago, just after the Straits Times Index (STI) had successfully tested the seemingly firm support level of 2,300 for the second time, this column recommended investors to exercise patience before buying because the worst of the bear market was in all
      794 words
    • Article, Illustration
      Lock icon SingTel reports big subscriber gains in Q3
      459 6  -  WINSTON CHAI Growth reflects strong take-up of iPhone 3G and other initiatives [SINGAPORE] An exclusive bite at Apple's iPhone 3G has helped put Singapore Telecom's mobile subscriber base in the pink of health, with the operator chalking up the biggest subscriber gains in
      FILE PHOTO  -  459 words
    • Article
      Lock icon Yangzijiang more than doubles Q3 profit to 475m yuan
      333 6  -  VINCENT WEE [SINGAPORE] Yangzijiang Shipbuilding (Holdings) has more than doubled its net profit to 475.3 million yuan (*****.9 million), from 224.7 million yuan previously, for the quarter ended Sept 30, 2008. Similarly, sales more than doubled to 2.02 billion yuan, and
      333 words
    • Article, Illustration
      Lock icon Tat Hong Q2 profit down 3%
      635 6  -  YEN SREENIVASAN CRANE and construction equipment giant Tat Hong Holdings reported flatfish second-quarter results as its bottomline was weighed down by higher tax charges and costs of setting up new subsidiaries around the region. The company, which is one of the world's largest crane
      FILE PHOTO  -  635 words
    • Article
      Lock icon FJ Benjamin's Q1 earnings down to $1.1m on forex loss
      433 6 FJ BENJAMIN (FJB) saw net profit fall to $1.1 million for its first quarter ended September 2008 from $4.0 million a year ago mainly due to unrealised foreign exchange losses. The fashion and lifestyle group registered a foreign exchange loss
      433 words
    • Article
      Lock icon At a glance
      504 6 Three months ended Sept 2008 Nine months ended Sept 2008 NET PROFIT TURNOVER NET PROFIT TURNOVER CURRENT PREVIOUS CHNG CURRENT PREVIOUS %CHNG CURRENT PREVIOUS CHNG CURRENT I PREVIOUS (S$m) (S$m) (S$m)— (S$m) CHNG 1 STXPO 187.11 205.20 -8.8 3705.57 2006.32 84.7 840.71 459.97 82.8 *****.54 5278.60 104.1
      504 words
    • Article
      Lock icon Riverstone's net up, acquires competitor
      347 6  -  TEH SHI NING By RIVERSTONE Holdings, the Malaysia-based specialised glove maker, has announced strong third-quar-ter results and acquisition of a local competitor. Its net profit rose 31.8 per cent to RM7.23 million (553.04 million) from RM5.48 million a year ago, as revenue increased 17.1 per
      347 words
    • Article
      Lock icon Biosensors International Q2 loss widens to US$l7.7m
      313 6  -  CHEN HUIFEN By HURT by non-recurrent expenses, heart stent maker Biosensors International Group has reported a sec-ond-quarter loss of US$l7.7 million, up from an US$ll million loss a year earlier. The wider loss is a result of one-time exceptional items of US$7.7 million
      313 words
    • Article, Illustration
      Lock icon Heng Long Q3 profit up 14.2%
      407 9  -  JAMIE LEE Tannery sees luxury market as more resilient than other fashion segments HENG Long International which supplies crocodile leather to fashion brands such as Prada and Hermes said yesterday that third-quarter net profit rose 14.2 per cent to $3.03 million from $2.65 million
      FILE PHOTO  -  407 words
    • Article
      Lock icon OCBC unveils Islamic banking unit
      232 9  -  CONRAD TAN OCBC Bank yesterday launched a full-fledged Islamic banking subsidiary in Malaysia, which is expected to open for business next month. OCBC Al-Amin Bank, as the unit is known, is licensed to offer a full range of services that comply with Syariah, or Islamic
      232 words
    • COMPANY BRIEFS
      • Article
        Lock icon Aussino warns of loss in first quarter
        41 9 AUSSINO Group Ltd warned yesterday it expects to report losses for the first quarter ended Sept 30, 2008 mainly due to the global economic downturn. The group will announce its results on Nov 14.
        41 words
      • Article
        Lock icon $3.2m Q3 profit for Hyflux Water Trust
        51 9 HYFLUX Water Trust, which was listed in December last year, has announced a net profit of $3.2 million for the third quarter ended Sept 30. Total revenue was $13.95 milUon. The Q3 2008 distributable cash is $2.7 million. Distribution per unit is 1.3
        51 words
      • Article
        Lock icon KXD Digital warns of Q3 net loss
        62 9 KXD Digital Entertainment has warned that it expects to incur a net loss in Q3 2008 after taking into account allowances for doubtful trade receivables. The extent of loss is expected to be material. It said revenue and gross profit are expected to
        62 words
      • Article
        Lock icon UOB-KayHian Q3 net profit slumps 72%
        71 9 UOB-KayHian Holdings reported yesterday a 72.1 per cent year-on-year decUne in net profit to $19.7 million for the third quarter ended Sept 30, after weak market sentiment hit trading volumes and activity. Total revenue fell 61.5 per cent to $80.7 million as commission income
        71 words
      • Article
        Lock icon HupSteel Q1 net profit rises 62%
        65 9 HUPSTEEL Ltd reported that net profit rose 62 per cent from a year ago to $12.0 million for its first quarter ended Sept 30. Revenue rose 56 per cent to $111.7 milUon, led mainly by the increased demand from oil and gas, offshore/marine and
        65 words
      • Article
        Lock icon Amara Q3 net profit drops 22%
        82 9 AMARA Holdings, which is in the hotels and property development businesses, posted a 22 per cent year-on-year drop in third-quarter net earnings to $3.3 miUion. Revenue sUd 63 per cent to $16.5 milUon. In the first nine months of 2008, Amara's net profit rose
        82 words
      • Article
        Lock icon China Dairy swings to Q3 net loss
        131 9 CHINA Dairy swung into a net loss of $2.55 million in its third quarter ended Sept 30 from a net profit of $2.63 million a year before, hurt by product recalls and higher operational expenses, although revenue rose 15.5 per cent to $70.18
        131 words
      • Article
        Lock icon CitySpring Q2 DPU rises 9.4%
        107 9 CITYSPRING Infrastructure Trust's distribution per unit (DPU) rose 9.4 per cent from a year ago to 1.75 cents for the second quarter ended Sept 30. But its cash earnings for the quarter, which fund distributions, slumped to $1.1 million from $14.1 million a year before,
        107 words
      • Article
        Lock icon Synear Q3 net profit slips 54.9%
        91 9 SYNEAR Holdings net profit for the third quarter ended Sept 30 sUpped 54.9 per cent to 28.1 milUon yuan (556.21 million). This was despite an 8.9 per cent increase in revenue to 389.95 million yuan. The group said it spent more on television and
        91 words
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      28 5 'Sj^JwW kW mmM '"*-i Wf Ml V s ,/^B v ■up^ fl P^^^^ ____i^__^^ __r^ _J*_M__ _________s_^^t_____^Wk^________ _____________________oH___^___r __PCM Meat t _feBIJIJJj3£I--i-Ml£lll^ H_pTH_iirll_PWß_^^ fin^pyjj)iiTi]ti3Ttfmlliwiwß T A __-_filnlliKpii]ai-_lr___H^ _Fl
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      143 7 JJj vj ______f^_________ ___H ____H_____!_fN^__ ty -Z _________v _tflF _____l___BP^ v^K^^^^^_^^___m___^_—i n-stew^t* And there are few tougher places to play it than Sentosa's award-winning Serapong golf course, home of the Barclays Singapore Open. Grab your 4-day pass for SsBB* from Sentosa Golf Club or all Harry's outlets from now to
      143 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Selling ahead of expected US fall
      592 8  -  SIVANITHY STOCKS Singapore market also follows HK's afternoon lead downwards; STI sheds 78 points PERHAPS not surprisingly, Monday's rise in the Straits Times Index (STI) proved shortlived. The benchmark yesterday surrendered all of Monday's 21-point gain when it collapsed 78.06 points or more than
      : Bloomberg  -  592 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      85 8 Up Down Unch Up Down Unch Up Down Unch lulti Ind 1 11 2 0 0 0 1 11 2 lanufacturing 30 89 53 14 32 94 67 Commerce 24 19 10 29 20 'pt/Stor/Comms 26 27 :inance 26 26 Construction 10 'roperties 28 28 lotels/Rsts iervices
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      113 8 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 19.538 19.538 54.457 54.457 lanufacturini 452.551 47.374 499.925 183.098 935 184.032 Commerce 81.630 21.278 102.908 70.411 2.340 72.751 "pt/Stor/Comms 136.003 99 136.102 194.676 18 194.694 :i nance 26.202 26.202 174.586 174.586 Construction 13.139 2.144 15.283 1.187 46 1.232 'roperties
      113 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      102 8 lapitaLand 3.000 -0.240 lapitaMall 1.960 -0.050 jtyDev 6.250 -0.350 losco Corp 0.875 -0.055 IBS Grp 11.020 -0.680 :&N 3.280 +0.020 Sent Intl 0.390 +0.005 iolden Agri 0.195 -0.005 IK Land 2.450 -0.110 IMH 20.560 +0.060 ISH 11.000 +0.160 lardineC&C 10.900 Ceppel Corp 4.980 -0.250 Ceppel Land
      102 words
    • Article, Illustration
      Lock icon BROKERS' TAKE
      861 8  -  LYNETTE KHOO Noble Group Nov 11 close: 550.97 OCBC Investment Research, Nov 11 STELLAR performance despite challenging landscape: Noble Group impressed with a stellar set of Q3 2008 results. Net profit surged 145.3 per cent y-o-y to USSI4B.B million despite a general softening in demand for commodities. This
      : Bloomberg  -  861 words
    • Article, Illustration
      Lock icon Euro advances against US$, yen in London
      486 8 Reuters CURRENCIES [LONDON] The euro rose against the dollar and the yen yesterday as traders brushed off a slide in share prices and focused on the single European currency's rally, nearing a record high against a broadly weaker sterling. The UK currency fell
      ■ Reuters; * _~ . _... i--—- -1 AFP  -  486 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 DAILY
      4 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      59 8 Nov 11 VALUE CLOSE IT OB/OS 542.00 -20.OC IT CADI -*****.00-215.0i IT 10-day MA -*****.00 +55.0i TSE ST Mid Cap 374.77 -11.3 TSE ST Small Cap 307.58 -8.3. TSE ST All Share 435.33 -17.41 TSE ST China Top 185.57 -5.0i TSE ST China 184.67 -4.8i OB Catalist
      59 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      61 8 VOLUME Golden Agri 108,875,000 China Honqxinq 68,696,000 Noble Grp 43,709,000 Cosco Corp 42,294,000 Yanqzijianq 42,043,000 ChinaEratat 39,298,000 Sing Tel 33,843,000 Midas 32,761,000 AusGroup 32,721,000 China XLX 29,435,000 VALUE(S) Sing Tel 80,273,670 DBS Grp 54,221,594 Capita Land 52,945,220 Noble Grp 44,711,695 OCBC Bk 44,660,080 Cosco Corp 38,246,610 Keppel
      61 words
    • Article
      Lock icon RISES
      94 8 IQB 5.05%NCPS 100 CLOSE UP 8960 60.0 0.7 ISH 1100 24.0 1. 'ain 482 21.0 3.' ;TI2350BNPePW*****0 112 14.0 14. iBS RB ePW*****3 134 10.0 8.1 IMH 2056 9.0 0. >inGheeHuat 23 8.0 53. iBS DB ePW*****2 54 7.5 16.1 ;GXSGAePW*****1 42 7.0 20.' ;TI 1950 DBePW*****2 54 7.0
      94 words
    • Article
      Lock icon FALLS
      116 8 CLOSE DOWN LP 10US$ 7372-129.0 -1.2 DBS Gr| 1102 -68.0 -5.8 China H 10US$ 928 -57.0 -3.9 UOB 1302 -56.0 -4.1 I A 1130 -52.0 -4.4 India Ni 10 928 -49.0 -5.0 ilA 200 1118 -48.0 -4.1 MS India 10US$ 818 -43.5 -3.4 DBS MBL iCW*****3 120 -40.0 -25.0
      116 words
    • Article
      Lock icon CURRENCIES
      84 8 Where S! i$ stands Nov 11 %CHNG CLOSE FRNOV10 YR2008 S$ LOW S$ HIGH uss 1.5005 -0.73 1.5155 1.3457 Euro 1.9179 -0.06 2.2064 1.8640 Pounds 2.3409 0.23 2.8431 2.3088 1.0041 2.28 1.3251 0.9068 'en* 1.5344 -2.17 1.6645 1.2619 Rupiah* 0.***** 1.31 0.***** 0.***** Baht* 4.2933 -0.62 4.4299 4.0190 Peso*
      84 words
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      81 9 'Wang' Prosperity: The Chinese have believed for thousands of years how the environment affects well-being and prosperity even in the realm of business. The Concourse, with its 8-sided octagon or W^p (Ba Gua) design, may just be the place where your business can flourish. Give your business -~aM~ gab, an
      81 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Economic downturn crimps medical tourism
      677 10  -  CHEN HUIFEN Singapore may not meet its target of one million foreign patients by 2012 [SINGAPORE] The number of foreign patients at Parkway Holdings hospitals dipped 5-7 per cent in the latest quarter a sign that the medical tourism sector is ailing amid the economic
      677 words
    • Article
      Lock icon MDA plays cupid to local media firms
      244 10 BEYOND providing funding and training opportunities, local authorities are roping in international mentors in the hope of giving the country's fledging digital media sector a further boost. The Media Development Authority of Singapore (MDA) has launched a one-year pilot programme to help match-make
      244 words
    • Article
      Lock icon Crime, waste cost retailers US$173m
      349 10 Retail shrinkage cost 3.2% lower than last year: survey THEFT and wastage cost Singapore's retailers some US$l73 million in the year ended June 2008, according to a survey by the Centre for Retail Research in the UK and sponsored by Checkpoint Systems Inc, a NYSE-listed
      349 words
    • Article
      Lock icon Punggol EC site fails to draw any bid
      348 11  -  UMA SHANKARI NO bid was received for an executive condominium housing site despite its being attractively located in Punggol by the time the tender closed yesterday. The 99-year leasehold site at the junction of Punggol Field and Punggol Road was launched for
      348 words
    • Article
      Lock icon IE S'pore, Ningbo government sign collaboration pact
      226 11 TRADE agency International Enterprise (IE) Singapore and the Ningbo People's Government yesterday signed a memorandum of understanding to strengthen economic collaboration, at the opening ceremony of Ningbo Week Singapore 2008. IE Singapore said that the MOU is timely, as 7.7 square kilometres of
      226 words
    • Article
      Lock icon NAC starts $3.5m fund for local original works
      267 11  -  NOOR AISHA THE National Arts Council (NAC) yesterday launched a $3.5 million fund to encourage original works that depict Singapore culture. The Arts Creation Fund, which is aimed at practising artists, will be spent over five years at $700,000 a year. Successful
      267 words
    • Article, Illustration
      Lock icon Global crisis could accelerate East Asia's rise: SM Goh
      488 11  -  LEE U-WEN Western economies can no longer afford to ignore region's rising contribution THE United States will remain first among equals long after the dust from the global financial meltdown settles, but the rise of East Asia could be accelerated by
      488 words
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      Lock icon Page 10 Advertisements Column 1
      272 10 Discounts Available for Strategic Partners Register Here! http://haas_berkeley.edu/groups/alumni/abc/ Asia Business Center Prpcpnt^ Guest of Honor Discussion Topics S Iswaran, Senior Minister of State, Managing a Large Family Business Ministry of Trade and Industry Managing Wea th in Family Business Managing Growth in a Global Economy Keynote Speakers Managing Group Dynamics
      272 words
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      64 11 v^^^^S^_^^^HPSH^^^!^^t^-"_ *^3______M___R__n_L >^t: i Ef S f f "*t^t^^^^______i^- c* i i^- 4 's_v__fe i ~J^?si~ "-^S^S^s^ HIS--- si&_*^^; >0"-. pfc J ___fe_lt^!____l I Hi -___V___________l y '^3^_J 1"*-1*^^_-' f^________K_'*'*■ lsPl_i _______tt_________l !^___H <^*^^__SWB ____fil 11% |^ta________________________i _^£!Lr s<l I 4_tf_Hfl V^^reg£^,ffffi^jjj t§§_pStfl| __B_____&_ j* *^9*jo*dk^^^hd_______H ____M_!_s___h-__l ____PFffS£_____H >* 9
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon US thrifts facing tremendous pressure: regulator
      460 12 Reuters They are handicapped by charters which force them to focus on a single lending sector [SAN FRANCISCO] The US thrift industry is "under tremendous pressure" and is handicapped by charters forcing them to concentrate on a single lending sector such as home mortgages,
      ■ Reuters; REUTERS  -  460 words
    • Article, Illustration
      Lock icon US$100b pledge may not cut it: Fannie Mae
      564 12 Bloomberg, Reuters [NEW YORK] Fannie Mac may need more than the USSIOO billion in funding pledged by the US Treasury to stay afloat after reporting a record US$29 billion loss on Monday and confronting more difficulty in issuing and refinancing debt. "This
      – Bloomberg, Reuters  -  564 words
    • Article
      Lock icon More dollops of help for US economy needed
      365 12 Reuters [NEW YORK] The Federal Reserve will deliver another interest rate cut to help the moribund US economy ring in the new year, but billions more in fiscal stimulus is needed to limit the current downturn, a Reuters poll showed on Monday.
      – Reuters  -  365 words
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      237 12 __P "r *I 4 F '_r _r ¥T V P _J___P I __P 4H I!■ 11 l_l i v^v I l____L^v' i'J 11' I f^^^i 11 .....I I I i-L^vTi 11TI ■I'J __f i l' 41 I __liViTiWhiTi^^___iui^_P^3_i'j^^^^^_^B -----Tr:^^ ___h>T4 .llQi-hTTTT'O*I.(O _mt^>i.:pT'l'T7H i "^rr--. jgjg ______l_i____ll___MJH_!!i_^_________! ________________j___________________agH Come this December,
      237 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon Twist in race for No 2 Umno post
      561 13  -  S Jayasankaran 2 of 3 candidates not federal MPs, so their becoming DPM raises questions A LEGAL poser has cropped up regarding the Umno deputy presidential race in next March's elections. Umno, or the United Malays National Organisation, is the dominant party
      AP  -  561 words
    • Article
      Lock icon Maybank Q1 profit falls by 22.2%
      265 13 Reuters [KUALA LUMPUR] Malaysia's top lender, Malayan Banking Bhd (Maybank), said yesterday that its first-quarter profit fell by 22.2 per cent, as net interest income fell and recovery of non-performing loans slowed down. The state-controlled Maybank, which has been on a controversial overseas acquisition
      – Reuters  -  265 words
    • Article
      Lock icon San Miguel offers Bakrie option for Bumi
      435 13 Bloomberg Move will entice Bakrie to drop deal with Northstar [MANILA] San Miguel Corp, the Philippines's largest food and drinks company, will offer PT Bakrie Brothers an option to buy back shares of PT Bumi Resources to entice Bakrie to drop an agreement
      Bloomberg  -  435 words
    • Article
      Lock icon Forex loss puts Telekom in the red
      224 13 Bloomberg [KUALA LUMPUR] Telekom Malaysia Bhd, Malaysia's biggest fixed-line operator, posted its first quarterly loss in almost three years because of foreign exchange losses and said that it expects 2008 to "remain challenging". The company posted a loss of RM165.8 million (5569.9 million),
      – Bloomberg  -  224 words
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      43 13 'y?i|_^^ mZ. ____________________________k |H_________H I-^O^B ---___-_i-N^ r f&ZZZZZZZZZZZJ I ft -_---B--_ta_________ ___X __I_l_ ■iW J^:>Vr..-Vs?V>§KSM X H-~*^vxW f/lL ft ft E~ ifmT 1 wkWWmA I m /fl A _Pt 11*. ft ■"^^^_-_----______________-----^^^^^liß__i-- o*# Jr^^m 1 JsP®^ X I_tf I >*_ .."^E-s-*^^ jy^jmw\ J B~
      43 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon China's inflation cools to 17-month low
      560 14 Bloomberg The 4% CPI rise in October provides room for further interest-rate cuts [HONG KONG] China's inflation cooled to the slowest pace in 17 months, making further interest-rate cuts more likely as the world's fourth-biggest economy loses steam. Consumer prices rose 4 per cent
      Bloomberg  -  560 words
    • Article
      Lock icon India urged to lower rates further
      449 14 Bloomberg [NEW DELHI] India needs to cut interest rates further as two reductions in less than a month haven't been enough to make loans affordable for companies and consumers, a former central bank governor said. Policy makers should lower benchmark rates further "if necessary"
      Bloomberg  -  449 words
    • Article
      Lock icon Pimco favours China, S'pore
      293 14 Reuters [TOKYO] Asian markets face uncertainty in the global crisis and countries such as China and Singapore with the firepower to fight back will come out on top, the managing director of Pimco's Asia-Pacific operations said on Monday. Pimco, the world's biggest bond fund manager, said
      Reuters  -  293 words
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      227 14 LUAUKY 1-t DlNii AND HCS.:TAU- _Ji P^ jjfllfc I \_m T___L m mmmiM[.^'^*w*\^F-A~l*^*w'l.*^w\^^\%\*-A* WW _____r kHilHri BB^BH^^fel l_________-__i ___I_______H N_R__Hl R__________i '"^__ft__A.-- .n'---l ___M U^_:^UzK\AAS^K^^^C^^&l^^^^A______________________________ft^______fl V_N ____Hl^^' _____h ________________________i p _d-_--__^b ppr IV9 Eli Ul\\\lnll\nW*3ftßl| j j The year end festivities will soon ____V_mß_i\\il -8-Jl Am mrwam be u P°n
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  • WORLD
    • Article, Illustration
      Lock icon Some banks reap big tax breaks atop bailout billions
      676 15 -AP New tax policy could cost Treasury as much as USsl4ob [WASHINGTON] Some of America's biggest banks are in for a windfall on top of the US$7OO billion government bailout thanks to a new tax policy quietly issued by the Treasury
      -AP; REUTERS  -  676 words
    • Article
      Lock icon Citigroup to halt some foreclosures
      324 15 Bloomberg [NEW YORK] Citigroup will halt certain foreclosures as the firm modifies about US$2O billion in mortgages, following similar moves by its largest rivals. Citigroup plans to reach out to 500,000 homeowners in the next six months who may be at risk of falling behind
      Bloomberg  -  324 words
    • Article
      Lock icon Summers or Geithner for Treasury Secretary?
      639 15 Reuters Observers weigh advantages of the opposites: the blunt versus the genial [WASHINGTON] Presi-dent-elect Barack Obama's short-list for Treasury secretary includes one man with a reputation for being too blunt and another whose genial manner makes some wonder if he is tough enough. Neither
      Reuters  -  639 words
    • Article
      Lock icon UBS tax probe targets execs: reports
      474 15 Reuters [ZURICH] A US probe into whether ÜBS illegally helped wealthy Americans dodge taxes is targeting senior and mid-level executives and could result in one or more indictments, the New York Times reported. The US paper cited unnamed sources. ÜBS decided in July to
      Reuters  -  474 words
    • Article
      Lock icon Harvard braces for budget cuts amid slowdown
      463 16 -AP President says its USs37b endowment may face losses [CAMBRIDGE, Massachusetts] Harvard University is considering spending cuts because the economic slowdown may reduce federal grants and the school's substantial endowment, President Drew Faust said on Monday. Harvard's endowment posted an 8.6 per cent
      -AP  -  463 words
    • Article
      Lock icon Amex gets nod to become bank holding company
      508 16 Reuters It can issue bonds guaranteed by govt, tap US Treasury's USs7oob aid scheme [NEW YORK] American Express Co has won approval to become a bank holding company, in a step that could cut its borrowing costs and give it more access
      Reuters  -  508 words
    • Article
      Lock icon Circuit City bankruptcy hits property investors
      426 16 Reuters [NEW YORK] US shopping centre and mall property owners took a thumping on Monday as investors feared Circuit City Stores's bankruptcy filing would usher in more failures and take property owners down with them. "What a lot of landlords should be worried about
      Reuters  -  426 words
    • Article, Illustration
      Lock icon IN THE RED AND UP IN THE AIR
      89 16 AP [LONDON] Britain's bright red telephone boxes are unused and unprofitable, but far from unloved. The fate of more than a third of its 12,700 iconic phone booths is up in the air. Telecom company BT says it wants to scrap 400
      AP  -  89 words
    • Article
      Lock icon Economic downturn scalds Starbucks
      584 16 -NYT The coffee chain reports 97% plunge in Q4 earnings as revenue rises 3% [SAN FRANCISCO] In a sharp economic downturn, fewer people are in the mood to indulge. On Monday, Starbucks, the global coffee chain, reported net income dropped 97 per cent. That capped a
      -NYT  -  584 words
  • Page 15 Advertisements
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      23 15 Corporate Building I l iji j For office showroom storage space lll^'T^P^ *****567 Wir iH Far f East t °rBanization =^^^!*f E www.fareast.com.sg
      23 words
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      Lock icon Page 15 Advertisements Column 2
      207 15 ______r\___________P-i|w^iTL____piv^^^ i^L^ta^hMi^ptfP^^^^.'— 7^" T HlB—__r*'* 7-»_-r' _F ---L. *T^t______ __________f^>^' '*~~T— --_^_______»-_r__ -_--7_--^-t _PBS__S -»_■_*> J^*J tI y^+- .'*m*> FROM INDIA TO SINGAPORE WE ARE WITH YOU RIGHT THROUGH India's premier housing finance company is here. As pioneers in India, we have assisted over 3.2 million families own the homes
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  • Page 16 Advertisements
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      32 16 m\mJm\ Wmm ly' Ty^"i i*l, »j i ftS^SSj^-M l-PP_PiPTlfli _____l__l^^^^^^_TT^_____w^__y__!___!___-___l^^^^^^^uUllhmU __IB_____________i hi>^aj^^m _fI_MH vw!f!VH *****19 PIH II ___r^___l K?wliil^_^_S_G_t_____fa___ Q^^u ujj^jjjiyj _-_------------b----M-H--l Jll'k i t____ ___p_____tp'^^W'_■ iHi \\-jaiw. iiiinll*k_xij^^^s______ii___i tißyv 111 &^^^^jj|gMgaMH
      32 words
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  • Page 17 Advertisements
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      151 17 *~^jC_ SjfK-i l -j_AmmWfjr7^t l_^_f f' .X^X wt .L^^Q^/^B __i-****^^T j f I__^——^^^^^^l j______________.^J_E_______l _____________iii!_t^ j^^t—-^ r^-"^-r-~ A^Jmr\W^\^C^ »!_-7//_____P ['\'.W vlJl.KxscSoC^o_ ft^^E_^^__ B^Sfc. i^k /X/y^jl __T /Sc /^^^^^^-____________i___ii_ii________________. X' <''^V/ ~m\*\. ftX^^L w /*""*^^^fi T_T I *T i i \A j^<""\. wW^^^La S^x" jG/^^m\\ "\jL^j^lh/ t^sJ /~~"~-f-~_ 7^"""-----i™" ci I
      151 words
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  • TransportHUB
    • Article, Illustration
      Lock icon Attracting cargo insurers
      820 18 Firms setting up operations here say the industry has lots of growth potential, reports VINCENT WEE THE marine cargo insurance market in Singapore is currently one of the smallest components of the general insurance market, but it continues to attract new players who believe it has lots
      BLOOMBERG  -  820 words
    • Article
      Lock icon Hanjin reports Q3 loss on weak won, fuel
      358 18 Bloomberg Profit falls to 283.7b won in contrast to 112b won last year [SEOUL] Hanjin Shipping Co, South Korea's largest shipping line, slumped to a third-quarter loss because of a weaker won, higher fuel costs and waning demand. The company plunged 15
      Bloomberg  -  358 words
    • Article
      Lock icon Int'l Shipholding sued over takeover
      109 18 Bloomberg [LOS ANGELES] International Shipholding Corp, whose vessels transport vehicles for Toyota Motor Corp and Honda Motor Corp, was sued by Liberty Shipping Group seeking an order to force it to consider a US$3OB million takeover offer. Liberty, which owns about 9 per cent of
      Bloomberg  -  109 words
    • Article, Illustration
      Lock icon Robbers raid tug towing S'pore barge
      321 18  -  VINCENT WEE Attack took place around Batu Berhenti beacon AN Indonesian tug towing a Singapore barge was attacked and the crew robbed off Batu Berhenti in the eastbound lane of the Singapore Straits on Monday morning. The Maju Daya 3 was towing the Marcopolo
      ReCAAP ISC  -  321 words
    • Article
      Lock icon Airline consultancy sets up Asia unit
      266 18 AVIATION planning and management consultancy group Seabury has expanded its Asian presence by setting up Seabury Aviation and Aerospace Asia (Hong Kong) with aviation and shipping executive David Turnbull as chairman. Mr Turnbull is currently, and will remain, executive chairman of Pacific Basin Shipping,
      266 words
    • Article
      Lock icon Traffic up 9% in Mauritius hub
      270 18 Reuters [PORT LOUIS] Mauritius saw record freight traffic of 6.4 million tonnes through its terminals in Port Louis during the 2007-2008 (July/June) financial year, the Mauritius Ports Authority (MPA) said in its annual report. The island is pitching itself as a regional hub for
      Reuters  -  270 words
    • TRANSPORT STOCKS
      • Article
        Lock icon SGX
        111 18 '000 log 11 ii Vol CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks Jaya Hold Ltd KWentures Keppel Corp MTQ Corp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship Star Cruises 0.30 0.21
        111 words
      • Article
        Lock icon KLSE
        41 18 '000 log 11 M$ Vol Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings Nepline Bhd PDZ Holdings 0.57 8.35 8.45 2.34 unch 0.08 0.07 -0.02 -0.10 0.05 -0.08 unch unch unch 498 28 883 528 0 115 100
        41 words
      • Article
        Lock icon BANGKOK
        15 18 ■oo Iov11 Balit Vol Precious Ship Regional Cont 10.20 ..6.25 -0.40 -0.50 2247 1964
        15 words
      • Article
        Lock icon HONGKONG
        14 18 '000 IOV11 HK$ Vol Doil iingamas Cont 17.24 0.70 -1.18 unch 1799 308
        14 words
      • Article
        Lock icon PHILIPPINES
        25 18 '000 Iov11 Peso Vol Aboitiz Equity Intl Container Keppel Marine Keppel Prop 5.50 14.25 unch unch -0.10 0.50 unch unch B55 286 0 0
        25 words
      • Article
        Lock icon TAIPEI
        22 18 evergreen Marine ...17.25 :irst Steamship 34.90 /Van Hai Lines 15.25 .ang Ming Marine...10.60 -0.65 1.05 -0.55 -0.65 12 15 7 38
        22 words
      • Article
        Lock icon TOKYO
        42 18 '000 Iov11 Yen Vol Kawasaki Hvylnd...204.00 -7.00 ***** Kawasaki Kisen 403.00 4.00 ***** Mitsubishi Hvy 374.00 -17.00 ***** Mitsui Eng&Sbldg...144.00 -1.00 ***** Mitsui Osk Lines ....510.00 -13.00 ***** Nippon Express 399.00 -24.00 2685 Nippon Yusen 493.00 -7.00 ***** Source: Thomson Reuters
        42 words
    • TRANSPORT HUB: SHIPPING
      • Article, Illustration
        Lock icon Sailing through stormy seas
        1125 19  -  DAVID HUGHES STRAIT TALK As the global economy decelerates, shipping firms are starting to feel the pain, but not all will be hit badly A COMEDY sketch I saw recently summed up the financial pickle we have managed to get ourselves into. A financier explained: "Of
        BLOOMBERG  -  1,125 words
      • Article
        Lock icon QE2 runs aground on final farewell voyage
        238 19 neuters [LONDON] Queen Elizabeth 2, one of the world's most famous ocean liners, ran aground briefly off the south coast of Britain yesterday on her final farewell voyage. The Cunard ship, which in her 39 years of service has sailed 5.9 million nautical
        neuters  -  238 words
    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon Boeing extends talks with engineers
        327 20 Bloomberg Negotiations for a new 3-year contract pact will continue [SEATTLE] Boeing Co, the world's second-largest commercial jet maker, said that talks with its engineering union will extend beyond yesterday's target for a new three-year contract agreement. Boeing and the Society of Professional Engineering Employees
        Bloomberg; REUTERS  -  327 words
      • Article
        Lock icon Virgin Blue cuts fuel surcharge by 20%
        150 20 Bernama [MELBOURNE] Low cost carrier Virgin Blue has cut the fuel surcharge on airfares, following a decline in the price of oil. From yesterday, the airline lowered the surcharge by 20 per cent on Virgin Blue domestic, Pacific Blue trans-Tasman and Pacific Island
        Bernama  -  150 words
      • Article
        Lock icon AirAsia scraps fuel surcharges
        342 20  -  YEN SREENIVASAN MALAYSIA'S Air Asia has become the first airline to scrap fuel surcharges from all international and domestic flights. The move follows a slump in the oil price over the past three months to its lowest level in almost a year. Oil is less than
        342 words
      • Article
        Lock icon Sime Darby unit gets Boeing deal
        257 20  -  YEN SREENIVASAN Asian Composite Manufacturing to provide honeycomb cores for elevators, rudders in 8777s US planemaker Boeing has awarded a multi-million dollar component supply contract to a subsidiary of Malaysia's Sime Darby. Asian Composite Manufacturing (ACM), in which Boeing has a one-third stake, will
        257 words
      • Article
        Lock icon Budget travel operators could gain
        313 20 AP [LONDON] Low-cost travel operators could be the big winners from the global economic downturn even as tourism faces a tough year in 2009, according to a report released here on Monday. The World Travel Market 2008 report a study conducted by Euromonitor International said
        AP  -  313 words
      • Article
        Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
        2524 20 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), Al: Air India (AIC), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
        2,524 words
    • TRANSPORT HUB: MOTORING/AVIATION
      • Article, Illustration
        Lock icon Mercedes bucks Oct trend with rise in registrations
        736 21  -  SAMUEL EE Deliveries rise 8.9% compared with Sept; BMW's down 39.9%, Lexus's down 28.8% MERCEDES-BENZ was the only premium make to register an increase in car registrations during Black October, when free-falling stock prices caused the new car market to decelerate hard.
        736 words
      • Article, Illustration
        Lock icon Better travel info for MRT passengers soon
        602 21  -  SAMUEL EE System developed by in-house team costs only $40,000 SMRT Corp is spending $12.7 million to roll out a new train information system that cost only $40,000 and a five-man in-house team of engineers to develop. The SMRT Active Route Map Information
        602 words
      • Article
        Lock icon Force Protection may win order for 100 trucks
        376 21 Bloomberg [BOSTON] Force Protection Inc, the third-largest maker of blast-resistant trucks for the US military, has developed a new flatbed car-go-transport and anticipates an order for as many as 100 of the new vehicles. The Tactical Support Vehicle Heavy, or TSV, was
        Bloomberg  -  376 words
      • Article
        Lock icon KLIA slammed for RM1b subsidy
        277 21 AP [KUALA LUMPUR] Malaysia's 10-year-old international airport has come under criticism from lawmakers for relying on a government handout of RMI billion <*****.5 million) each year to fund its operations. As a major regional aviation hub, the Kuala Lumpur International Airport (KLIA) should be self-sustaining
        AP  -  277 words
      • Article
        Lock icon China Eastern grounds 10% of planes
        442 21 Bloomberg [SHANGHAI] China Eastern Airlines Corp, the country's third-largest carrier, is taking about a tenth of its fleet out of service as the global economic slowdown crimps travel in the world's most populous nation. The airline has grounded more than 20 planes as it
        Bloomberg  -  442 words
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  • Page 19 Advertisements
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      Lock icon Page 19 Advertisements Column 1
      89 19 [PBl SCHENKER i|j^l^_3^r^-^j^fs^^-_^^yj^'"fe:^'" r:r WW "3---S- B lE.^___________________iii_______________Pi!_^_____ -_^^?^-^_________&_r^_fa A*. J^^ %^.-"^^M^^g I^^*__L___'~^^_____Pt__l^__l _!w_--__^^_____^___-*t —m m —^B—\\^^—\ HH___^_!^__l ■Sl/V*^-! A. ii|^----^--MfrS:'''!^Tß^ ft y^^fcff_ipifcpjipH^B^E|^ac^_ifc_^ We pave the way for your company's success. Rapidly changing markets call for increasingly flexible solutions. Growth, competitiveness, and success are only possible if a company has
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  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      372 20 CRYPTIC CROSSWORD ACROSS n —IJ I —TTj —n k; I —|g —n; —r^j I Circle having 600 debts? (7) I 5 Vehicle was hit dangerously 111 I round back door (7) MA\ __H 9 10 I 9 Big part taken by ogre, a titan I 10 South American country ___H_B___H_B_____M__|_____B_B_____^M_____H__L_H__L_
      372 words
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      31 21 TUNE IN TO iv«__ft__etcx^]sr 5 BIGGEST HITS OF THE 90S CHRIS BROWN TILL NOW! {^wTmT'w** "RITPTTIIT T_lr? .JU^I jChEjJ^U ApJLiXV^ kylie THE PUSSYCAt DOLLS ONLY ON RADIO I 100% PURE FISH
      31 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon The G-20 summit: a rare opportunity
      505 22 THE summit of the leaders of the Group of 20 (G-20) in Washington this coming weekend provides an important opportunity to at least prepare the ground for appropriate policy responses to what could be the worst global recession since the *****. The G-20 comprises
      505 words
    • Article, Illustration
      Lock icon Rewriting the script for local filmmakers
      1066 22  -  ANNA C MALLON A bolder vision will go towards helping transform Singapore into a global media city THE government's recent call for the local filmmaking industry to take the lead in transforming Singapore into a global media city is a bold push towards creating
      I FILE PHOTOS  -  1,066 words
    • Article, Illustration
      Lock icon Temasek likely to close genco sale despite global crisis
      674 22  -  RONNIE LIM THE BOTTOM LINE FEWER big-name bidders and even the possibility of fewer dollars. Still, Temasek Holdings is likely to want to close the sale of PowerSeraya by next month finishing its divestment of the three big Singapore generation companies
      674 words
    • Article, Illustration
      Lock icon Cause for cheer or apprehension?
      515 23  -  RODOLFO C SEVERINO While lauding Obama's election. South-east Asians also worry that his administration may turn the US protectionist THE electoral victory of Barack Obama for the presidency of the United States has elicited a variety of reactions from people in South-east Asia. One reaction
      AFP  -  515 words
    • Article, Illustration
      Lock icon Obama walks a tight rope between change and continuity
      1061 23  -  LEON HADAR THE meeting between US President-elect Barack Obama and President George W Bush at the White House on Monday during which they talked about the economic and national-security problems is part of the ritual of the transition of power that
      AP  -  1,061 words
    • LETTERS TO THE EDITOR
      • Letter
        Lock icon Giro charges – various factors are involved
        305 23  - Giro charges various factors are involved Ong-Ang Ai Boon WE refer to the letter, "Heavy Giro charges may send wrong signal", by Denis Distant (BT, Nov 6). We would like to clarify several issues raised in the letter. Not all Giro payment set-up processes are electronic as these depend on
        305 words
      • Letter
        Lock icon Be creative, DBS, to avoid layoffs
        386 23  -  Ho Chee Loon IT is hugely disappointing to hear of DBS Bank cutting 900 jobs. This is a short-sighted and knee-jerk reaction. DBS is here for the long haul and has the financial strength to provide retraining to staff or can re-assign them to
        386 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      8828 24 Transaction date: Nov 11 High Low Code Company Sale C000) High Low Buyer Seller C'vr •k P/E j3 13 3 3148 8Telecom 19 3 5834 A-Sonic 110 100 6389 ABFSG Bond ETF 30.5 12 5000 ABRHIdgs 19.5 6 1938 AEI Corp 15.5 1 1100 AEM 33.5 7 2101
      8,828 words
    • Article
      Lock icon SGX CATALIST
      1889 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer
      1,889 words
    • Article
      Lock icon SGX XTRANET
      74 25 52-Wk Tel High Low Code Last Sale Vol ('0001 Day Ih Low Last Quote Buyer Seller Div GrYld Net MCap C'vr P/E $mil Comi _H|< ***** 116 6065 Diamonds 6200 6200 6095 IS DJ US Tech 6097 IS MSCI Spore 6101 ISS&PSO0 ***** ***** 6170 SPDRS 385 158
      74 words
    • Article
      Lock icon CLOB INTERNATIONAL
      69 25 52-Wk Tel High Low Code Last Sale Vol Cooo) Day Last Quote Div GrYld Net MCap |h Low Buyer Seller C'vr P/E $mil Com] >an' Hii 112 45 6000 AVJennings 20.5 4 6134 Over&Gen 39 6 6017 StarCruises 283 115 6019 TanChonglnt A49 A8 IIS8 HK125 -1 3304
      69 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      9022 25 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!S 1.475/ AIGIF Spore Bond Fund/^- 1.27/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 0.6/ APS Alpha Fund (USD)!** 0.4/ APS Komaba Asset Mgt Pte Ltd APS Komaba Global Bond SGD 0.6202/ APS Komaba Global
      9,022 words
  • Page 24 Advertisements
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      Lock icon Page 24 Advertisements Column 1
      25 24 Sole Distributor Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. g—M ijtejj 341 River Valley Road #01-01 Singapore *****2. Tel: 6238 6678 Fax: 6238 6676. f^^^^^B
      25 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      376 26 %dy %yr dy yr dy yr Index Change Change Change Change Change Change Nov 10 World Index Preliminan 708.2 0.7 -37.4 0.3 -38.5 0.7 -40.! EAFE Preliminai 690.3 1.8 -38.4 1.4 -42.0 1.8 -43.! Euro[ Prelim inan 962.5 1.0 -37.6 0.6 -45.0 1.0 -46.7 Pad
      376 words
    • Article
      Lock icon PALM OIL
      75 26 Novii Delivery Month KLLb HALM hUlUKtb (Kl Delivery Opening Month Range Nov08 1600 Dec 08 1588 Jan 09 1587 Feb 09 1597 Total o/p: ***** contracts Opening Sett Av Range Price Price 1M/MI) Sett Av Vol Open Price Price High Low Done Position 1580 1600 1570 70 806
      75 words
    • Article
      Lock icon STOCK INDEX FUTURES
      24 26 Novii ten Hii Sett STI SIMSCI Nov 223.4 227 217.1 Taiwan Nov 174 178.4 172.7 Source: MF Global (S) He. Ltd
      24 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 26 Novii Bid Offer 1-month 1.4989 1.5014 2 months 1.4971 1.4997 3 months 1.4950 1.4978 6-months 1.4880 1.4913 Source: OCBC
      22 words
    • Article
      Lock icon SIBOR
      78 26 Novii (USS) (S$) 1.***** 0.***** 1 mth 2 mths 2.***** 0.***** 3 mths 2.***** 0.***** 6 mths 2.***** 1.***** 9 mths 2.***** 1.***** 12 mths 2.***** 1.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 1.***** 12 mths 1.*****
      78 words
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      Lock icon SGX DERIVATIVES TRADING
      297 26 Novii OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES DecO8 MarO9 JunO9 SepO9 98.1400 98.2350 98.1400 97.9700 7853 9600 4359 3273 EUROYEN TIBOR FUTURES DecO8 99.230 99.230 MarO9 JunO9 99.370 99.370 SepO9 DecO9 Mar10 Jun10 Sep10 99.230 99.370 99.230 99.315 99.355 99.310 99.275 99.165 99.115 99.070 2
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      Lock icon SICOM FUTURES
      182 26 Nov 11 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Month High Low Close Sett Volume (lots) O/l (lots) Dec 08 182.0 Jan 09 Feb 09 Mar 09 Apr 09 May 09 181.0 182.0 182.0 183.0 184.5 185.5 185.5 14 250 613 600 547 809 753 TSR 20
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      Lock icon GOVERNMENT SECURITIES
      90 26 Novii Period Issue code Maturity Yesterday's Bid Hi, Day's |h Low 3-Month BQ*****V 12.02.09 1-Year BY*****V 02.11.09 0.54 0.80 0.40 0.40 0.80 0.65 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year NX*****T 4.625 5-Year NX*****Z 2.250 7-Year N*****0S 2.875 10-Year NY*****A 4.000
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      Lock icon FOREIGN CURRENCY NOTE RATES
      131 26 As at 9am Novii Singapore dollars to one unit of foreign currency: Currencies Bid it Offer Aust dollar 0.9870 1.0300 Can dollar 1.2430 1.2600 Euro 1.8920 1.9170 NZ dollar 0.8610 0.8820 Sterlini ind 2.3230 2.351 US dollar 1.4870 1.5060 Local dollars to 100 units of foreign
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      Lock icon INTERBANK RATES
      170 26 Novii »i Otter Overnight 1-month 2-months 3-months Overnight mode: 1/2 ys$ 3/4 11/16 3/4 7/8 Offer 5/8 7/16 1/2 5/8 Bid 7 days 1 month 2 months 3 months 6 months 9 months >—■. I. $Au 1.10 1.80 2.65 2.75 3.00 3.10 3.25 Offer 0.60 1.30 2.15 2.25
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      Lock icon INTERBANK CROSS RATES
      464 26 Nov 11 AS _CS Rmb Euro HKS IndRsRu Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound us: Australia 0.798 4.549 0.524 5.166 31.768 75.487 0.650 8.878 2.388 1.142 53.624 32.566 1.001 6.788 0.786 21.903 23.296 0.428 0.667 Canada 1.254 5.703 0.657 6.476
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    • Article
      Lock icon PRECIOUS METALS
      134 26 A/oi/7 7 GOLD (USS/oz) NovW Nov11 Hong Kong London 753.90 746.10 754.90 747.10 Nov07 NovW 735.30 749.70 737.80 751.70 Source: Thomson Reuters CAST BAR S$) Nov11 Buying Sellim Kilobar "38,920.18" ***** PAMP GOLD BARS 6$) Selling Buying 1gm 5gm 10gm 20gm 50gm 100gm 1 oz 1 ozUBS Kinebar™
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      Lock icon INTERBANK CURRENCY RATES
      156 26 Novii Against SS Currencies Bid Offer Against US$ Bid Offer S$fUS$ to one unit of foreign currency: Australian dollar 0.9996 1.0016 0.6664 0.6667 Canadian dollar 1.2531 1.2557 0.8354 0.8358 Euro 1.9082 1.9117 1.2721 1.2725 NZ dollar 0.8753 0.8773 0.5835 0.5840 Sterling 2.3358 2.3404 1.5572 1.557' US dollar
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    • Article
      Lock icon LONDON METALS
      69 26 NoviO Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1929.20 3 months 1985.00 1906.20 1960.00 Copper, Grade A (US$/tonne) Cash 3 months 3844.00 3875.00 3731.50 3755.00 Lead (US$/tonne) Cash 1339.00 3 months 1350.00 1351.00 1361.00 Nickel (US$/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (US$/tonne) Cash 3 months
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    • Article
      Lock icon CHICAGO BOT
      102 26 NoviO (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Nov08 940.00 911.75 940.00 915.00 Jan 09 948.00 921.00 948.50 916.50 Mar 09 957.25 929.50 958.00 927.00 May 09 967.25 939.50 967.50 938.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 08 35.38 33.90 35.52 33.95 Jan 09
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      Lock icon LIFFE
      68 26 NoviO (£/tonne) Close Prev Hii ih/Low Dec 08 1290 1264 1316/1271 Mar 09 1302 1277 1328/1283 May 09 1310 1287 1335/1294 JulO9 1320 1299 1339/1305 COFFEE (US$/tonne) Close Pev High/Low Nov08 1763 1711 1763/1732 Jan 09 1800 1740 1815/1752 SUGAR (US tonne) White Close Prev High/Low Dec 08 334.2
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      76 26 CRUDE OIL PRODUCTS NoviO CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 59.61 -0.02 WTI (Near Mth) 62.54 1.54 Dubai (1-Mth F) 57.52 1.24 Tapis blend 62.20 1.30 Minas 60.10 1.30 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 32.45 81.40 4.25 3.40 US$/barrel Opec Oil Basket
      76 words
    • Article
      Lock icon BONDS & WARRANTS
      2976 26 BONDS WARRANTS Fel Zode Com| Last Sale Vol Conv Exer +or- ('000) Ratio Price Disc Gear- ing fflths Left >058 Advance Modules Grp W*****3 >036 Advance SCT Ltd W*****9 )092 Asia Environment W*****4 1481 #Asia Water Tech Ltd W*****0 3816 Asiasons Capital Ltd W*****7 S756 Asiatic Grp (H) Ltd W*****2
      2,976 words
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      197 26 Will Gold Reach US$l,OOO again? ™T b d rives d G? a? 0'dPriT; w Global demand and supply mine production and inventory figures yji, Of iS it 3 dOWntUrn from h©r©? Holdings sales by World Gold Council, International Monetary Fund and Central Banks Strength of the U.S. dollar and key
      197 words
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      2616 27 The Business Times bI B^B KPfl B-fjffffJJfflTßWtfffffjrfWtfßlffiß I WAN HAI INTERNATIONAL PTE LTD CRN0M**********/R S^i I ■■iMiffil^^^Bk^jljtMWJlgam V"TTT\ llfftll 11*1 iiupa TEL: *****588 (14 LINES) FAX: *****163 ■L~J ■> ■^^^ifT^^^^H B^Bl E»B laWgwiag \AN 1 WAN HAI INF\ Cusl«n« Setvke/Boolcings Mccl Line (IBOO> *****200 B^^^ A A ■\™X^L^l" I I
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      3537 28 RICKMERS-LINIE ITIFT EASTERN CAR LINER, LTD §1) £3®lf£& Regular Break-Bulk/Project/SOC Conventional Services website: www.rickmers.com \\l M^m I I 1 USAService If-— SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONs| WEEKLY EXPRESS SAILING SCHEDULE Vessel I Voy SIN I ALT I HOU I NEW I JAX I ORF I PHL I
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      6309 29 ___^_^B I J A N.I HI CD C C NJTeI: 65-*****907 Fax: *****917 I T_T____.._^T_._ ___|V__l___^ E9 151 E9 __H H 2S A^ 0'1"53^1^ E™"* asc@asc-asia.com I WiH fil fIRV NAlf IGATIfIIU CRIMP I ■""■pMAi'lH I __M -858 shipping company/ 70 Shenton Way, #21-03 Marina House Singapore *****8 ■KM IIHWIUft
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Things are looking up in November
      1222 30  -  LEE BOON KENG While October saw major stock indices plunge into a headlong dive, certain market indicators are much friendlier this month HOW bad was October 2008? The S&PSOO lost 17 per cent for the month. The last time it chalked up a larger
      REUTERS  -  1,222 words
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      Lock icon Analysts stick their necks out
      1113 31  -  ERIC MARTIN ELIZABETH CAMPBELL The average Wall Street forecast calls for the S&P 500 to break out of a bear market and surge 20% to 1,118 by Dec 31 EVEN after cutting estimates at the fastest rate ever, Wall Street strategists still need the biggest
      REUTERS  -  1,113 words
    • Article, Illustration
      Lock icon Higher default rates seen for bonds
      883 32 The falls in bond values have not been as severe as those in equity markets, making a convincing case for diversification as it is vital to mitigate risk, reports GENEVIEVE CUA EQUITY markets have been battered as they price in recession, but bond markets
      Moody's, The Yield Book, Morgan Stanley Research, Oct 8 '08  -  883 words
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      242 30 I _____B^________________________________________________ B si- l^_____l *^^*__*3___ _T_» _r ___^___fl *%i5J^ BfiTil__F_ff!HS!ll!WiT!!!nlWs^ d^j^j MARKETS You get more out of trading FX with us. And not just because we're giving you US^ISD. More tools. 24 hour access. AccuCharts trading. Spreads from 3 pips. Flexible contract sizes. And free* money too. New to
      242 words
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      154 31 For XBRL or other accounting-related r assistance, call 6-222 6868 now ACCOlMberVe for the Accounting Specialists www.Accountserve.com.sg Px ___r^^^^^^__.^^^^^^^^^^__l WniT^uwl H_E La__ _w_ —^•■^__r^^>>. C I^Tffil A i£?S c__a _F§L I^ACO I I I %at *wmr ll9Btum J^~—- "Bgy xZi JraVa, dimmewble v®/ I LOCK+STORE] 6243 0600 GOOD GAINS Let
      154 words
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      713 32 SAXO CAPITAL MARKETS PRESENTS: j, A REAL f TRADER slpA STOHY m JIV/IVI ;MK An intimate perspective on '^,'1 I __________T y •••••••••••••••••••••••••••••••••••••••••••••••••••••a <^H «^^V__^ I* \m Gold dealer finds his own pot of gold. As a gold dealer with a reputation as valued as the Success on his own
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  • Page 32 Miscellaneous