The Business Times, 15 November 2008
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2008-11-15
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The Business Times
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Title Section16 2008-11-15 1 THE BUSINESS TIMES weekend NOV 15-16, 2008 Ssl.oo mm AN SPH PUBLICATION MICA (P) 198/08/2008 www.businesstimes.com.sg16 words
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Article, Illustration598 2008-11-15 1 Yen Sreenivasan - Yen Sreenivasan Airlines undercut each other to woo passengers as route opens up ven@sph.com.sg Singapore THE Singapore-Kuala Lumpur route, monopolised for so long by the national carriers of the two countries which routinely charged return fares in excess of $400, is opening up with someFILE PHOTO - 598 words
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Page 1 Advertisements
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Advertisement28 2008-11-15 1 /jfjSmk Boutique Breguet, 328 North Bridge Road, #01-18 Raffles Hotel Arcade fM/flsMk l*^fci:-! ===^™^^////'^>****^^o/'^ PARIS CANNES GENEVA VIENNA LONDON AgP JT l|^^ NEW YORK-LOS ANGELES DUBAI MOSCOW-TOKYO SEOUL28 words
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Page 1 Miscellaneous
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Miscellaneous135 2008-11-15 1 TP^^pSg^TvELGADGETS ijA Allthingssmall JN^r Ll4 PROPERTY PAINS Developers face writedowns THEIR bottom lines have already started to shrink in the current reporting season. Indebtedness and cash positions may be the things to watch out for 2 STILL BEARISH Wall St wary of bounce US stocks open lower on a 2.8135 words
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Miscellaneous10 2008-11-15 1 THE RAFFLES CONVERSATION BARCLAYS ON THE FINANCIAL CRISIS 67 gt10 words
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Miscellaneous7 2008-11-15 1 WEALTH Four cardinal rules of investing 307 words
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TOP STORIES
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MARKETS
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Article45 2008-11-15 2 KL COMP 881.65 +1.06 NIKKEI 225 8,462.39 +223.75 HANG SENG 13,542.66 +321.31 ;et 429.97 -3.50 IAKARTA 1,264.38 +4.66 MANILA 1,978.05 +59.08 KOSPI 1,088.26 -0.18 iHENZHEN B 253.01 +4.47 MUMBAI IND 9,385.42 -150.91 11am EDT Chanpe nam EDT Change DOW 8,582.77 -252.48 NASDAQ 1,536.68 -60.0245 words
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Article29 2008-11-15 2 Bloomberg SINGAPORE 5,33 MALAYSIA 6,72 HONG KONG 5,00 INDONESIA 16,433 TAIWAN 6,316 JAPAN 1,875 KOREA 9,33 BRITAIN 3^oo US 4,00 CANADA 4,00 SWITZERLAND 2,29 INDIA 13,00 Source:Bloomberg - 29 words
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Article46 2008-11-15 2 US$ 2$ ler US$; 1.514 ;us$/ 1.480 2.242 EURO ;us$/ 1.272 1.92^ Foreign currency per US$, S$ YEN 96.90 64.00 RM 3.597 2.375 HK$ 7.750 5.118 BAHT 34.97 23.09 RUPIAH 11,755 7,763 RENMINBI 6.829 4.509 INDIAN RUPEE 49.39 32.62 A$ 1.533 1.012 NZ$ 1.782 1.17746 words
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727 2008-11-15 2 Kalpana Rashiwala - Kalpana Rashiwala COMMENTARY Bottom lines have already started to shrink in current reporting season kalpana@sph.com.sg SMALLER home developers have already started cutting prices and this will raise the pressure on other listed property groups to make writedowns. This will whittle bottom lines, which have727 words
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Article, Illustration766 2008-11-15 4 Andrew Marks - Andrew Marks But some strategists see Dow's surge as a critical and positive sign for Wall Street New York INVESTORS signalled from the opening bell yesterday that they were unlikely to build on Thursday's extraordinary rally, which saw the Dow rebound from aBLOOMBERG - 766 words
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514 2008-11-15 4 AP Bush stops short of far-reaching oversight that Europeans want Washington Washington WITH economic damage piling ever higher, US President George W Bush and other world leaders are gathering to explore options for relief and to work on ways to prevent similar creditAP - 514 words
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Article, Illustration496 2008-11-15 5 Chuang Peck Ming - Chuang Peck Ming 'Regrettable' move has weakened trust between management and union, he says Singapore LABOUR chief Lim Swee Say has expressed disappointment at DBS Bank's "sudden decision" to retrench staff. "There was no prior consultation with the DBS Staff Union," said Mr496 words
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496 2008-11-15 5 Lynette Khoo - Investors' fears confirmed Pinnacle 9 and 10 notes now worthless Lynette Khoo Singapore INVESTORS who had bought into another structured product, this time arranged by US bank Morgan Stanley, are now seeing the value of their investments going to zero. Morgan Stanley Asia (Singapore) Pte has called for an early496 words
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Page 2 Miscellaneous
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Miscellaneous60 2008-11-15 2 NEWS LIVING Top stories 2,4,5 Dining L 2-5 Raffles Conversation 6,7 Entertaining L 6 Week In Review 8 Shopping L 7-9 The CEO Column 9 Home Garden UO,TT ComPanies I°=!s- Travel LT2-T4 SinBaP°re I«JZ Heafth LTS Letter From Abroad T8 World T9-22 f^L_ Stocks stats 2^27 Ll^ Perspective 28^ Weekend60 words
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Page 3 Advertisements
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Advertisement149 2008-11-15 3 Come this December, Royal Caribbean International promises a truly memorable yet value-for-money experience for everyone. Discover countless indulgences with Legend of the Seas as you explore the exotic attractions of Asia. Adventure seekers can try rock-climbing and short backpack jaunts at exciting destinations. Families can enjoy themselves at our unique149 words
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Page 5 Advertisements
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Advertisement152 2008-11-15 5 JEWELLERY AUCTION Over 5 Million Dollar Jewellery Inventory MUST BE LIQUIDATED! This property shall be offered at this one day auction. Items obtained from govt. auctions plus the addition of goods which constitue the majority. Bracelet-Dia. 34.62ct. Centre Tanzanite 7% Earrings Dia.14.20C 68.59ct. ONLY! 2PearSapp. 4.41ct. Ifcfc Paraiba 17.62ct. 'SSI152 words
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THE RAFFLES CONVERSATION
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Article, Illustration2242 2008-11-15 6 Bob Diamond, president of Barclays pic and chief executive officer of Barclays Capital talks to Vikram Khanna about how the bank is navigating through the financial crisis. T A time when many investment bankers around the world have fallen to earth bruised and chastened, the president of BarclaysARTHUR LEE - 2,242 words
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Article76 2008-11-15 6 Raffles Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. A collection of luxury hotels, Raffles Hotels and Resorts distinguishes itself through the highest standards of hospitality, service and cuisine. Its hotels in Singapore, Beijing, Cambodia, Beverly Hills, Dubai and the Caribbean76 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK
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46 2008-11-15 7 FINANCE Minister Tharman Shanmugaratnam on Sunday sketched out three considerations that will guide the Budget next year helping businesses stay strong and competitive, supporting economic growth and jobs, and aiming for measures that last a few years.46 words
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49 2008-11-15 7 CHINA announced a US$5B6 billion stimulus package on Monday in its biggest move to stop the global financial crisis from hitting the world's fourth-largest economy. It plans to invest four trillion yuan in infrastructure and social welfare by the end of 2010.49 words
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51 2008-11-15 7 AS trust among banks breaks down and they shy away from risk, traders are finding it difficult to get letters of credit. Both importers and exporters are complaining of this problem, which could have serious implications since LCs grease the wheels of51 words
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59 2008-11-15 7 CAPITALAND is trying hard to play down expectations but to some analysts, it has emerged as the frontrunner in the race to become Las Vegas Sands's white knight. The fact that Capita Land had participated in the Request for Proposal for both59 words
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42 2008-11-15 7 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. On Tuesday, the key 3-month Sibor fell to 0.89 per cent.42 words
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35 2008-11-15 7 GENERAL Motors, burning cash as US sales slide, is being pushed closer to bankruptcy. Only federal aid can prevent a collapse by the largest US carmaker, analysts said.35 words
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41 2008-11-15 7 MORE funds that have invested in Singapore-listed companies want to have a say in how the company is run. And their participation, they feel, is increasingly important in light of the economic crisis.41 words
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31 2008-11-15 7 MALAYSIA on Wednesday relaxed the 30 per cent bumiputra equity ownership for companies wanting to be listed but have yet to fulfil the quota.31 words
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Article, Illustration67 2008-11-15 7 US Treasury Secretary Henry Paulson said on Wednesday that he was backing away from buying trou- bled mortgage assets using a US$7OO billion bailout fund, favouring instead a second round of capital injections that would match private funds. VOLTE FACE Mr Paulson isAP - 67 words
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40 2008-11-15 7 SINGAPORE does not plan to fund the Marina Bay Sands project if Las Vegas Sands runs into financial problems, said Senior Minister of State for Trade and Industry S Iswaran on Wednesday.40 words
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40 2008-11-15 7 THE bear tightened its grip to choking point on Wall Street on Wednesday, sending major stockmarket indexes tumbling more than 4 per cent following the abrupt shift in the government's bailout plan.40 words
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42 2008-11-15 7 LUMA, a 75-unit freehold luxury condominium at River Valley Grove, is relaunching this weekend at $1,450 per square foot, down almost 50 per cent from $2,800 psf when it was first offered last year.42 words
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46 2008-11-15 7 RAOUL Weil, CEO of a ÜBS division handling cross-border business and private banking, has been charged with conspiring to defraud the US through income tax evasion. The indictment says other high-level ÜBS executives took part in the conspiracy.46 words
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Page 7 Miscellaneous
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Miscellaneous247 2008-11-15 7 CRYPTIC CROSSWORD 1 Computer showing (8) vv ;j movie (2-6) 9 Support during hardship lio f event (8) for example, was —^—^—^l—^^^^^^^h -\q m\< h in great performance (7) —^J—^J——^J——^B——^J—^J—^J— Within truth one stays, providing guidance for 22~T motorway (7) A •R A I 1n AH 22 Something percussionist I247 words
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Miscellaneous76 2008-11-15 7 NEXT WEEK Nov 17-21/08 US DATA NovT7 Oct capacity utilisation Oct industrial production NovlB Oct core PPI Novl9 Oct CPI Oct housing starts Nov2o Initial jobs claims Oct leading indicators SINGAPORE DATA NovT7 Oct merchandise trade NovlB Central government debt (Q3) Nov2l Q3 GDP results Wholesale trade index (Q3) EVENTS76 words
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FROM THE DESK OF
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Article, Illustration758 2008-11-15 8 Neil Hudspeth - Neil Hudspeth From medicine to milk, eggs to toys, the 'Made-in-China' label has taken a hard knock from the recent series of health scandals. The country clearly needs to restore its brand image overseas I FROM THE DESK OF AS COMMUTERS fly in to Shanghai,REUTERS - 758 words
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COMPANIES
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Article, Illustration525 2008-11-15 9 Emilyn Yap - Emilyn Yap Property business remains a key contributor to profit; APB reports 7% slide in full-year net Singapore LOCAL conglomerate Fraser and Neave (F&N) yesterday reported net profit of $120.3 million for the fourth quarter ended Sept 30, up 23 per centARTHUR LEE - 525 words
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550 2008-11-15 9 Kalpana Rashiwala - Kalpana Rashiwala Singapore SINGAPORE Land and its parent United Industrial Corporation have posted improved bottom lines for the third quarter and the first nine months of this year, defying the general trend among property groups this reporting season. Sing Land's net550 words
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Business briefing
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69 2008-11-15 9 profitability RSH, a retailer of golf and sports goods, returned to the black for the fiscal second quarter ended Sept 30, 2008 compared to a net loss a year ago. Net profit for the three months was $6.88 million compared to anet loss of69 words
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41 2008-11-15 9 ISETAN (Singapore) Ltd said that net profit for the third quarter of this year rose 10.31 per cent from a year ago to $3.07 million. Its revenue rose 6.28 per cent to $81.55 million.41 words
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Article, Illustration565 2008-11-15 10 Arthur Sim - Arthur Sim It sinks $4.9 m into the red for Q2; puts off fund-raising exercise Singapore METRO Holdings has reported a net loss of $4.9 million for its second quarter ended Sept 30, against a net profit of $4.83 million aFILE PHOTO - 565 words
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Article905 2008-11-15 11 Jamie Lee - Jamie Lee EARNINGS IN FOCUS Financial results of SGX-listed companies announced so far show a 11% fall. By. PROPERTY was the theme of the week as developers such as City Developments and Ho Bee Investment took a hit from lower sales this quarter. This brings905 words
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Article, Illustration386 2008-11-15 11 Winston Chai - Winston Chai Singapore SINGAPORE Telecommunications (Sing Tel) has secured loans amounting to about $1,075 billion to refinance debt and for general working capital. The company yesterday announced it has entered into two agreements with lenders in Singapore and Australia. The first is a $350 million creditFILE PHOTO - 386 words
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Article, Illustration383 2008-11-15 12 Nisha Ramchandani - Nisha Ramchandani Move taken because of credit market crisis; group posts 62% jump in first-quarter net profit to $14.9 m Singapore AGRICULTURE supply chain manager 01am International plans to hold back on mergers and acquisitions in the current credit crisis until the credit marketsFILE PHOTO - 383 words
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543 2008-11-15 12 Ronnie Lim - Ronnie Lim Singapore JOB done: With its business rebuilt and a proper governance structure and management team now in place, China Aviation Oil Singapore's Lim Jit Poh has handed over the company's chairmanship to Wang Kai Yuen. And the new management of543 words
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428 2008-11-15 12 Yen Sreenivasan - Yen Sreenivasan Singapore BOUSTEAD Singapore's sec-ond-quarter profit dropped sharply as "lumpy" earnings from the corresponding period last year were not repeated during the July-September 2008 quarter. Profit for the three months ended September 2008 was $9.5 million, a 43.2 per cent drop from428 words
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Article, Illustration567 2008-11-15 13 R Sivanithy - R Sivanithy STOCKS Despite the volatility and notwithstanding Wall Street's generous Thursday bounce, the general trend appears to be down sivan@sph.com.sg Senior correspondent HERE was no let-up in volatility this week, particularly for the major indices. Benchmarks in the US, Japan and Hong Kong rose567 words
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Article116 2008-11-15 13 VOL CLOSE VGolden 69,438 18 -1.0 -5.3 Joble Grt 42,519 94 5.0 5.6 IndoAi 40,101 47 -3.5 -6.9 Gallant 27,211 9 -0.5 -5.3 'ani 24,469 46 0.5 1.1 jtraitsAsia 23,211 80 -1.0 -12 iini ;Tel 18,226 240 -2.0 -0.8 iembMar 18,064 205 15.0 7.9 Ehina Hons cini116 words
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Article58 2008-11-15 13 CLOSE UP GLD 10US! 7222 202.8 1.i JSH 1100 96.9 6.: China H 10US$ 920 51.5 3.! Asia Pac Brew 1060 50.0 5.( JMh 2150 45.4 1.' MS India 10US$ 745 37.8 3.! OCBC Bk5.1%NCPS 100 9050 30.0 o.: OCBCCaj 5.1%NCPS 100 8460 30.0 0.' UOB5.05%NCPS 100 900058 words
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Article49 2008-11-15 13 BY CENT! CLOSEDOWN 5 OCBC Bk 4.5%NCPS 100 8280 -20.0 -o: Thailand 10US$ 267 -16.7 -4.1 F&N 314 -11.0 -3.. ux 186 -11.0 -5.i Great Eastern 890 -10.0 -1.' Auric Pac 60 -8.0 -11.1 Wilmar 258 -7.0 -2.i CSE Global 42 -6.0 -12.1 Yanlord 72 -6.0 -7.'49 words
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Article105 2008-11-15 13 apitaLand 2.720 +0.020 lapitaMall 1.850 :if 'Dev 6.100 +0.010 ]osco Con 0.845 IBS Grp 10.340 -0.040 :&N 3.140 -0.110 ient Intl 0.380 -0.005 iolden Ai ;ri 0.180 -0.010 IK Land 2.350 +0.040 IMH 21.500 +0.300 ISH 11.000 +0.640 lardine C&C 10.240 +0.040 lei Con 4.680 -0.050 Land 1.780105 words
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398 2008-11-15 13 Lynette Khoo - Lynette Khoo Singapore STOCKS may see more downside from their current levels as the earliest sign of recovery will likely show up only in the second quarter of 2009, says OCBC research head Carmen Lee. While the stimulus packages introduced398 words
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235 2008-11-15 13 Lynette Khoo - Lynette Khoo Singapore ELECTRONIC components distributor NEL Group and two of its subsidiaries, Nucleus Electronics (Hong Kong) and TLG Electronics, are said to have been involved in alleged "round-trip-ping" transactions with Long Gain Technology and Diviner Technology Corp. According to KPMG, which was235 words
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455 2008-11-15 14 Jamie Lee - Jamie Lee CJ dismisses bank's appeal against injunction restraining it from filing an application to wind up Jurong Shipyard Singapore THE court has rejected BNP Paribas's appeal against an injunction restraining it from filing an application to wind up Sembcorp455 words
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Article441 2008-11-15 14 NET PROFIT (S$M) COMPANY CURRENT PREVIOUS CHNG TURNOVER (S$M) NET PROFIT (s$m) TURNOVER (s$m) CURRENT PREVIOUS CHNG I CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG UIC 48.30 25.38 90.3 212.24 136.23 55.8 126.70 75.84 67.1 582.55 355.49 63.9 StraitsAsia 40.51 5.02 707.2 241.14 72.68 231.8 121.13 27.19 345.5441 words
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550 2008-11-15 14 Lynette Khoo - Lynette Khoo Singapore OCEANUS Group yesterday formed a joint venture with famous abalone restaurant chain Ah Vat Abalone Group to form ab-alone-based food chain outlets to offer value-for-money abalone meals in China a plan it dubbed as recession-proof. This 70-30550 words
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Page 10 Advertisements
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Advertisement447 2008-11-15 10 Suntec Singapore i: Hall 402-404 I■■ 14-16 November 2008 HWjLSjyyfiUjlfiEffiH 3 Days of demonstration sessions hosted by W3fl JK?*~*~~~^^^t^ food experts Violet Oon friends and Food W'*^ 'owes* Price guaranteed for Writers from The Sunday Times. h^k W^i ißfel (S\/7 all products! In the day, rub Shoulders With F2_ yr*>447 words
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SINGAPORE
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Article, Illustration563 2008-11-15 15 Anna Teo - Anna Teo Retail sales weakness was already evident well before economic sentiment tumbled recently Singapore SINGAPOREANS to help spend the economy out of recession? Going by retail sales numbers, one had better count on government pump-priming rather than consumer spending the apparent September retail uptickFILE PHOTO - 563 words
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439 2008-11-15 15 Lynette Khoo - Lynette Khoo Singapore RECENT fiscal stimulus by governments around the world may provide some buffer to the downturn but is unlikely to stave off a global recession. "With all the G-3 economies in recession, we are going to see marginal growth or no439 words
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322 2008-11-15 15 Teh Shi Ning - Teh Shi Ning Singapore SEPTEMBER'S retail sales index rose an unexpected 7.2 per cent year-on-year, after August's 4.2 per cent increase, largely due to a sharp rebound in motor vehicle sales. Excluding motor vehicles, retail sales rose by 8.4 per cent from last322 words
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Article, Illustration482 2008-11-15 16 Kalpana Rashiwala - Kalpana Rashiwala Pua Seek Guan expected to boost the Indian group's retail property performance and lead its overseas expansion Singapore PUA Seek Guan, the high-profile former CEO of Capita Mall Trust Management, is joining Indian real estate giant DLF to head its internationalFILE PHOTO - 482 words
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888 2008-11-15 16 Arthur Lee - Arthur Lee COMMENTARY Singapore EUTHANASIA combines two Greek words eu, meaning good; and thanatos, meaning death. Simply translated, it means good death or dying well. It's perhaps unfortunate that euthanasia today carries with it many negative connotations. But quite a few from888 words
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LETTER FROM ABROAD
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Letter, Illustration1009 2008-11-15 17 Jane Ng - Jane Ng LETTER FROM LUXEMBOURG Assistant manager, KPMG Audit S.a r.l. Luxembourg From clients and superiors to support staff, it is common to find oneself engaged in teams of up to 10 nationalities regularly. With such a melting pot of cultures, each with different beliefs1,009 words
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WORLD
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Article, Illustration567 2008-11-15 18 Pauline Ng - Pauline Ng Move is part of measures to protect Malaysia's trade and to boost investments Kuala Lumpur MALAYSIA will automatically issue manufacturing licences to investors and reduce duties in certain areas as part of measures to protect its trade and to boost investments inAP - 567 words
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Article, Illustration270 2008-11-15 18 S Jayasankaran - S Jayasankaran Kuala Lumpur SOME press official or officials at the Asia Pacific Economic Cooperation offices in Peru, or Apec, have tripped up big time. It's either that or the people who drafted a press brief knows something that Malaysians don't! In a list270 words
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Briefing
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81 2008-11-15 18 Reuters Kuala Lumpur Malaysia s opposition Islamist party PAS is opening its doors to non-Muslims, its deputy chief said yesterday. By constitution, Parti Islam se-Malaysia (PAS) largely run by Muslim clerics but gradually being taken over by young, moderate leaders is out of boundsReuters - 81 words
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74 2008-11-15 18 Bloomberg ig China may buy more gold for its currency reserves on concerns that the US$7OO billion US bank bailout will cause declines in the greenback and Treasuries, the Standard newspaper said yesterday. The country is considering building up holdings ofBloomberg - 74 words
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76 2008-11-15 18 Reuters Malaysia will waive import duties on raw materials and intermediate goods in an effort to ensure that the country's economic growth does not slow too much, International Trade Minister Muhyiddin Yassin said yesterday. Duties range from 5 to 30 per centReuters - 76 words
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41 2008-11-15 18 Reuters ai China will scrap export taxes from Dec 1 for cold-rolled, galvanised and other high value-added steel products as part of Beijing's efforts to boost trade, the ministry of finance said yesterday.Reuters - 41 words
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Article, Illustration541 2008-11-15 19 Bloomberg, Reuters Economy expanded 9% in Q3 from a year ago, the slowest pace since 2003 Beijing CHINA faces a "formidable challenge" to prevent a slump in the world's fourth-biggest economy, the government warned yesterday as cooling factory and property investmentBloomberg,; Reuters; BLOOMBERG - 541 words
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Article456 2008-11-15 19 Reuters, Bloomberg Hong Kong HONG Kong slipped into recession in the third quarter as exports were hit by weakening global demand and consumption was hurt by a drop in asset prices and concern about the economic outlook. Third-quarter gross domestic product (GDP) shrank 0.5 per cent,Reuters,; Bloomberg - 456 words
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281 2008-11-15 19 AFP New Delhi WHILE some of the world's biggest banks are lurching from one crisis to another amid the global financial turmoil, Indian officials are feeling just a little bit smug. For years Indian banks chafed at the cautious regulatory hand of theAFP - 281 words
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Briefing
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69 2008-11-15 20 AP New York Wal-Mart Stores reported a 10 per cent increase in third-quarter profit on Thursday but trimmed its profit outlook because of the troubled global economy and the renewed strength of the US dollar. It earned US$3.l4 billion, or 80 cents per share,AP - 69 words
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Article, Illustration51 2008-11-15 20 Reuters Washington Senator Hillary Clinton {below), who lost to Barack Obama in the US Democratic presidential primary, is being considered to serve as secretary of state in the Obama ministration, NBC News reported on Thursday. The report cited two unnamed advisers to President-electReuters - 51 words
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71 2008-11-15 20 Bloomberg Toronto Nortel Networks Corp, North America's largest maker of telephone equipment, may go bankrupt by 2011 without a cash injection from the government or financial backers, RBC Capital Markets said. Nortel, founded more than a century ago, has lost 95 perBloomberg - 71 words
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63 2008-11-15 20 Reuters 1c Shares of Warren Buffett's Berkshire Hathaway Inc fell below US$lOO,OOO on Thursday for the first time since October 2006, after the company revealed large unrealised losses on derivative contracts tied to the stock market's performance. Berkshire's Class A shares fell as much asReuters - 63 words
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Article546 2008-11-15 20 Reuters LATEST US DATA Turmoil in the credit and funding markets is now playing out into the consumer sector Washington SALES at US retailers suffered a record decline in October, government data yesterday showed, as shoppers reined in spending with home prices falling, although plungingReuters - 546 words
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Article, Illustration344 2008-11-15 20 Reuters, Bloomberg New York Citigroup Inc is cutting at least 10,000 jobs in its investment bank and other divisions throughout the world, the Wall Street Journal said, citing people familiar with the matter. This is even as it was reported yesterday that Citigroup IncReuters, Bloomberg; BLOOMBERG - 344 words
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Article, Illustration568 2008-11-15 21 Reuters, Bloomberg, AP Standard Poor's said that revenues are already down about 33% year-on-year, with little hope of improvement New York THE financial crisis will take a heavier toll on global banks and brokers than previously expected, Standard Poor's said on Thursday. It saidReuters, Bloomberg, AP; AP - 568 words
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388 2008-11-15 21 .Reuters Washington Some of the world's richest hedge fund managers conceded on Thursday that their secretive investment industry would have to disclose more information to satisfy financial regulators. In a rare appearance before lawmakers on Thursday, George Soros,.Reuters - 388 words
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Article129 2008-11-15 21 Reuters Boston ANXIETY is sweeping the US$l.7 trillion hedge fund industry before a crucial deadline today, when investors angered by recent heavy losses are expected to demand the return of billions of dollars. "Managers have a pretty good feeling for what is coming, and there are significantReuters - 129 words
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Page 20 Advertisements
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Advertisement498 2008-11-15 20 A [SATS JEBSEN JESSEN PROCESS ENGINEERING (S) PTE LTD Company Registration No. 1975-*****-W (In members' voluntary liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308(2) of the Companies Act, Cap 50 that the Final Meeting of the members of the abovenamed Company will be held at 2 Corporation Road #03-06498 words
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Page 21 Advertisements
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Advertisement21 2008-11-15 21 Lianhe Zaobao I Head of Microsoft I Research Asia on I now China I can become a leader in ITa IsflQware21 words
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SGX
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Article8920 2008-11-15 22 SZ-wks Tel ligh Low Code Company Last Sale Vol Day Last Quote C000) High Low Buyer Seller Div GrYld C'vr Net P/E M Cap Smil 2.5 3 3148 8Telecom 9 3 5834 A-Sonic 10 100 6389 ABFSG Bond ETF 10.5 12 5000 ABR Hldgs 9.5 68,920 words
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Article1720 2008-11-15 25 SZ-wks Tel High Low Code Company Last Sale Vol ('000) Day High Low Last Quote Buyer Seller Div C'vr GrYld Net P/E M Cap Smil 10 11.5 1181 s AAGrp 12 16 8538 s APStrategic 1 1 1501 s Advanced System 18 12.5 3518 s Afor 16 2.51,720 words
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Article50 2008-11-15 25 Up Down Unch 5 8 2 Up Down Unch 0 0 0 Up Down Unch 5 8 2 lulti Ind lanul ractunni .ommerce ■inance ranst ruction 'roperties 'ro[ Totel tsEs" »ervices lect ias/ Mef ire mnin; ;lw Active counters with no volume for today are not included.50 words
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Article177 2008-11-15 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 cum177 words
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Article820 2008-11-15 25 For week beginning Nov 10 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Trans Date Shareholder/ Director Sell Conv Shares '000 Per ShrS Before (TOO) After ('000) Trans Date Substantial Shareholder/ Director Buy Sell Cony No of Shares '000 Price Per Shr$ SHAREHOLDING Before After ('000) ('000) itock Stock Hotung Invest820 words
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Page 22 Advertisements
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MARKETS
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STOCK MARKETS
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361 2008-11-15 26 Nov 13 %dy %yr %dy %yr dy %yr Index Change Change Change Change Change Change World Index Preliminai 650.8 -0.9 -42.5 -0.7 -43.0 -1.1 -45.8 EAFE Preliminai 638.4 -1.5 -43.0 -1.5 -46.4 -1.9 -49.1 Euroi Preliminai 899.7 0.3 -41.7 0.2 -49.2 -0.2 -51.8 Pacific 525.2361 words
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Article151 2008-11-15 26 Nov 14 Against S$ Currencies Bid S$/US$ to one unit of foreign currency: Australian dollar 0.9869 Offer 0.9885 Against US? Bid 0.6520 Offer 0.6525 Canadian dollar 1.2486 1.2504 0.8249 0.8254 Euro 1.9244 1.9266 1.2714 1.2717 NZ dollar 0.8487 0.8510 0.5607 0.5617 Sterlini 2.2403 2.2428 1.4801 1.4804 US151 words
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Article71 2008-11-15 26 Nov 13 IOCOA (£/tonne) Close Prey Hi, fLow Dec 08 1340 1316 1346/1301 Mar 09 1346 1322 1352/1307 May 09 1354 1330 1359/1318 Jul 09 1365 1341 1367/1328 COFFEE (US$/tonne) Close Pev High/Low Nov08 1773 1785 1782/1780 Jan 09 1805 1825 1834/1799 SUGAR (US tonne) White Close Prey High/Low71 words
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Article104 2008-11-15 26 Nov 13\ SOYBEANS (5,000 bu min; USc/60 Ib bushels) Close Previous High/Low Nov08 887.00 885.25 898.00 867.00 Jan 09 894.00 895.00 912.00 873.00 Mar 09 903.00 905.00 915.00 884.00 May 09 913.25 915.25 928.00 893.00 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low Dec 08 32.81 32.58 33.70 31.95104 words
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Article64 2008-11-15 26 Nov U\ KLCE PALM FUTURES (RM/MT) Deliver/ Opening Sett Av Month Range Price Price Low Vol Done Open Position Hi, Nov08 1480 Dec 08 1503 Jan 09 1520 FebO9 1521 Total o/p: ***** contracts 1472 1480 1472 1449 1503 1449 1455 1520 1447 1460 1525 1449 220 60464 words
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Article76 2008-11-15 26 Nov J3 CRUDE USS/barrel (FOB origin) Close Change Brent blend (1-Mth F) WTI (Near Mth) Dubai (1-Mth F) Tapis blend Minas 54.04 -1.08 59.52 1.75 49.88 -2.52 57.35 -2.95 56.45 -2.35 PRODUCT USS/barrel (FOB Spore) Close Change ■re) Naphtha Jet Kerosene 30.45 -2.68 72.10 -5.50 USS/barrel Opec Oil Basket76 words
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Article68 2008-11-15 26 Nov 14 GOLD ;us$/oz; Nov14 Nov13 Hong Kong 731.50 719.40 732.50 720.40 Nov13 Nov12 London 715.70 717.10 717.70 719.10 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 14.27 14.03 Source: UOB PLATINUM Lon (US$/oz) Nov13 Close Previous PM Fix 834.00 824.00 AM Fix 824.00 831.00 Source: Thomson Reuters68 words
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Article70 2008-11-15 26 Novl3 p""ty mm, yy./7 ;us$/tonne; Close Previous Cash 3 months 1886.60 1937.00 1870.00 1925.00 Copper, Grade A ;us$/tonne) Cash 3 months 3634.50 3670.00 3583.00 3621.00 Lead (US$/tonne; Cash 3 months 1323.80 1339.00 1287.20 1300.00 lickel ;us$/tonne; lose ■revious Cash 3 months Tin (US$/tonne; *****.00 *****.00 *****.00 *****.00 Cash70 words
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PERSPECTIVE
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Article, Illustration970 2008-11-15 27 Choo Wai Hong - Choo Wai Hong Leaders of emerging economies trooping to the world summit to reshape the global economic system will have to be vigilant in not being trapped in a G-7 modus operandi THE hosting by the US of a summit of leaders fromAFP - 970 words
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1132 2008-11-15 27 Joe Baladi - Joe Baladi America is always America, yet it consistently reinvents itself and sets the benchmark for virtually everything without changing its core proposition, promise and values ONE of the most powerful brands on the planet is Brand America. Some may be forgiven for doubting1,132 words
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Wealth
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WEALTH INVESTING
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Article, Illustration885 2008-11-15 28 Genevieve Cua - Genevieve Cua ipac co-founder Peeyush Gupta says buy quality assets; buy them at attractive prices; diversify; and have a long horizon to avoid market traps like the present one. By T TIMES like these, when asset values are way down and causing you to loseARTHUR LEE - 885 words
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617 2008-11-15 28 Bloomberg Singapore GOLD may climb above US$l,OOO an ounce in 2011 as global mine output drops, mining costs rise and demand increases, Morgan Stanley said. "Mining production actually peaked in 2001 and has since been declining," the bank's commodity analyst Hussein Allidina saidBloomberg - 617 words
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Article730 2008-11-15 28 Lynette Khoo - Lynette Khoo Genting International Hold OCBC Investment Research Nov 14 close: $0.38 GENTING International Limited (GIL) reported a dismal set of Q3OB results yesterday. Revenue was flat y-o-y at $177.4 million, but management noted that if the impact of a stronger SGD against the GBP is removed, it730 words
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Article, Illustration1664 2008-11-15 29 Teh Hooi Ling - Teh Hooi Ling show me the money Most investors tend to over-value risk and undervalue safety in deciding on the kind of shares they want to buy IN a recent report on Pan-Unit-ed Corporation, OCBC Investment Research said the market has ignored the fact that1,664 words
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Article, Illustration924 2008-11-15 30 Sani Hamid - Sani Hamid WEALTH INSIGHTS A strategy provides the discipline to remain in the market at a time when even the bravest are unnerved Director, wealth management (economy strategy) Financial Alliance UST as it has taken wealth away, the market provides-A Wealth Management Department - 924 words
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Article, Illustration786 2008-11-15 31 James Pressley - James Pressley Index fund pioneer John G Bogle laments money managers have become salesmen rather than stewards and put their hunger to amass fees above their calling to serve clients JOHN C Bogle, the man who pioneered the index fund, says he wakes up some morningsBLOOMBERG - 786 words
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WEALTH REAL ESTATE
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299 2008-11-15 32 Reuters Dubai THE United Arab Emirates' largest bank has halted retail lending to foreigners employed by top Dubai property firms on fears that a slowdown could jeopardise their jobs and income, an internal document obtained by Reuters said. Emirates NBD instructed staff onReuters - 299 words
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Article, Illustration1162 2008-11-15 33 Kalpana Rashiwala - Kalpana Rashiwala ARA CEO John Lim suggests regulatory reviews to relax bank lending to S-Reits for the next few years to tide them over liquidity issues. By RA Asset Management Group CEO John Lim would like to see refinancing of debt1,162 words
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Page 32 Advertisements
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Advertisement497 2008-11-15 32 PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) District 3 District 18 NON-LANDED NON-LANDED Regency Suites Apt 28/10/2008 FH 1421 1070 753 Elias Green Apt 28/10/2008 99 1528 560 366 The Metropolitan497 words
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Page 34 Miscellaneous
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Miscellaneous23 2008-11-15 34 Museumß©stQursnl" R/^^B yvii *^K\ V V 1^ mA m I L^J Wj \lfi \Cri &Wi \^Wi \Wi iV |G' ME&* BIHIMHHiH|HHIIi|M BipppMiSiVlsHliplllif HHyiMHIInMWHpS23 words
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BT Living
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DINING
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Article, Illustration1573 2008-11-15 35 Cheah Ui- Hoon - Cheah Ui-Hoon Yes, there's more to the Penang food scene than its famous char koay teow. Here's a guide to boutique restaurants and fine dining along the heritage trail. By HEN was the last time you went to Penang specifically to eat at a fine dining restau-PHOTOS BY CHEAH UI-HOON - 1,573 words
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Article, Illustration487 2008-11-15 36 AS most foodies know, Penang's Peranakan fare is quite different from the southern version of Straits Chinese cuisine found in Malacca and Singapore. The spiced fish paste otak-otak, for instance, is steamed rather than grilled, although there are similar dishes such as curry kapitan. As487 words
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Article, Illustration1117 2008-11-15 37 Geoffrey Eu - Geoffrey Eu Integration seems to be a popular buzzword in the lifestyle sector these days, and so it is with two new venues. One is a dual-restaurant and bar concept while the other is a one-stop restaurant, lounge and entertainment complex. By Ristorante Oso 46 Bukit Pasoh Road SPHOTOS OF B BY ARTHUR LEE - 1,117 words
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ENTERTAINING
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Article, Illustration972 2008-11-15 38 Jaime Ec - Jaime Ec guest chef French chef Joannes Riviere discovered a whole new world of flavours when he moved to Siem Reap IMAGINE the story of a Westerner who lands in the exotic East, burnt out from life in the city, and looking to reinvent himself.972 words
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SHOPPING
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Article, Illustration1234 2008-11-15 39 Christopher Lim - Christopher Lim MB&F's engineered-focused approach is a hit with watch collectors. By F you've got a niche product that appeals to sufficiently well-heeled clients, you might just be resilient enough to weather the economic storm. Swiss watchmaker MB&F actually views downturns as windows of opportunity. "All the brands1,234 words
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Article, Illustration1485 2008-11-15 40 Melissa Lwee - Melissa Lwee In tough times like these, hardcore fash ion istas anxious for the next hit of designer togs are turning into bargain hunters. T is Saturday afternoon in Singapore and it is sweltering hot but lines of people are braving the weather as they snake around The1,485 words
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Article, Illustration476 2008-11-15 40 EXACTLY 10 years have passed since it was established, yet Anomino (which means "anonymous" in Italian) has managed to retain relative, well, anonymity in the market. That's not something other brands would care to admit, but in the Florentine watchmaker's eyes, it's a good thing. Says476 words
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HOME & GARDEN
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Article, Illustration1162 2008-11-15 41 Corinne Kerk - Corinne Kerk personal space For II Lido's Beppe De Vito, a home is, above all else, a comfortable place that he can go back to. By GROWING up in South Italy, Beppe De Vito remembers not having anything resembling personal space for himself. His twoPHOTOS BY JOSEPH NAIR - 1,162 words
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TRAVEL
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Article, Illustration1444 2008-11-15 42 Adeline Woon - Adeline Woon Among Hanoi's traffic-choked streets are lake-side pockets of calm and tranquillity. THERE is something about a body of water that makes it alluring as a holiday destination. It doesn't even matter if you don't actually go in to get wet the sheer unspoilt view is enoughPHOTOS BY INTERCONTINENTAL HANOI WESTLAKE AND ADELINE WOON - 1,444 words
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GADGETS
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Article, Illustration923 2008-11-15 43 Christopher Lim - Christopher Lim Travel gadgets should be small without stinting on technical capabilities. By B^^ O you have Wi-Fi Internet access here?" V That's the first question some modern road W^r warriors ask when they check into a hotel even before they inquire whether their stay comes923 words
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HEALTH
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Article, Illustration632 2008-11-15 44 Cheah Ui- Hoon - Cheah Ui-Hoon Action is being taken to allow stroke victims to be treated beyond three hours of the onset of symptoms. WHEN you have a heart attack, getting to the hospital as fast as you can is imperative. But not many people realise that theFILE PHOTO - 632 words
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Article, Illustration436 2008-11-15 44 Noor Aisha - Noor Aisha A new product promises to make bone healing after tooth extraction simpler. By HAVING your tooth extracted may seem like a relatively benign procedure. But not always problems can arise if the post-ex-traction phase is handled without proper care. Possible complications include premature ageing,436 words
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GOLF & SPORT
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Article, Illustration872 2008-11-15 45 Wong Wei Kong - Wong Wei Kong no holds barred SPORTS has traditionally been seen as being recession-proof. But in recent years, views have become more divided, and the current economic crisis may subject this theory to its biggest test. The idea that sports is immune to recession stems from872 words
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Article, Illustration1004 2008-11-15 45 Justine Moss - Justine Moss For any professional golfer, winning a national open is an honour. Next week, the ÜBS Hong Kong Open marks a special milestone. By COMPETING in a national championship is a major attraction for professional golfers. After all, there's something special about winning an Open even if1,004 words
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WEEKEND WITH
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Article, Illustration744 2008-11-15 46 Cheah Ui- Hoon - Cheah Ui-Hoon MUHAMMAD ALKHATIB, MANAGING DIRECTOR, WIZ WERX The lure of the unknown is the main reason why this outdoor adventurer takes off to rough terrain and off-roading MUHAMMAD Alkhatib can't imagine why anyone would drive a swanky sports utility vehicle (SUV) in the safe andJOSEPH NAIR - 744 words
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MOTORING
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Article, Illustration537 2008-11-15 47 Samuel Ec - Samuel Ec Tyre maker Michelin and carmaker Volkswagen conducted a workshop recently on how to reduce fuel consumption while driving. By ONE way to cut your fuel bill without switching to lower-grade petrol is to choose the right tyres. A tyre with lower rolling resistance537 words
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Article, Illustration380 2008-11-15 47 BEING frugal and fun to drive are not always incompatible qualities in a car. One model that has achieved this remarkable compromise is the Volkswagen Golf 1.4 TSI. This turbocharged German hatchback was used during the recent Fuel Economy Workshop and fitted with Michelin Energy XMI green tyres.380 words
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Article, Illustration691 2008-11-15 48 Samuel Ec - Samuel Ec The new Lexus GS Hybrid will be launched in Singapore next week with a financial incentive that potential buyers may find difficult to resist. By HEN creating luxury hybrid models, Lexus engineers invariably focus on outright performance rather than the fuel-sipping virtues of a petrol-electric hybrid.691 words
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Page 36 Advertisements
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Advertisement731 2008-11-15 36 Wine^ Cline with BTWeekend Pine Court Chinese Restaurant Sens in Montpellier, this former right-hand Peach Blossoms, Level 5 Level 35, Grand Tower man to the Michelin star twin chefs ©6845 1111 Pan Pacific Singapore Meritus Mandarin Singapore Jacques and Laurent Poucel is set to take Weekend Dim Sum ALa Carte731 words
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Page 40 Advertisements
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Advertisement50 2008-11-15 40 7DHN ERPOS ¥A Furnish your life \\J WAREHOUSE SALE SAVE UP TO 80% Today tomorrow 10-5 Warehouse 320 Havelock Road (Corner of Saiboo Street) Park at River View Hotel, Hotel Miramar Grand Copthorne Hotel, Copthorne Kings Hotel, Hotel Miramar or Gallery Hotel Furniture, Rugs, Gifts Accessories FOR MORE INFORMATION www.johnerdosgallery.com50 words
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Page 43 Advertisements
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Advertisement25 2008-11-15 43 TUNE IN TO BIGGEST HITS OF THE 90S OHRISBBOWN TILL NOW! -w^^^^l £l J^ln M*aJ .-m~ *£THCE FU9SyC^ IDOIJJS ONLY ON RADIO 100% PURE FUN25 words
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Page 45 Advertisements
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Advertisement208 2008-11-15 45 INVESTMENT TOOLS FOR REAL PROS. Wishing the best of luck to all the players in the 2008 Barclays Singapore Open. Whether on the golf course or in the iShares ETF aims to track a specific world of investments, having the right index, you'll know exactly what strategy can make all208 words
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Page 47 Advertisements
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Advertisement64 2008-11-15 47 With the new 2008 Porsche Cayenne, renowned for its power and handling. Life suddenly seem less restrictive. Available Models: d^H Cayenne 3.6 V 6 ..jr^^S Cayenne SVB Aej^ Cayenne GTS V 8 i^^Vg Cayenne Turbo Cayenne Turbo S where dreams become REALITY _^^fNEW ALEXANDRA SHOWROOM,THE ALEXCIER, 237 Alexandra Road #0164 words
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