The Business Times, 9 December 2008
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2008-12-09
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The Business Times
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Title Section23 2008-12-09 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg mm A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 197/08/2008 Tuesday, December 9,200823 words
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Article, Illustration632 2008-12-09 1 Reuters, AFP, Bloomberg, AP Surge in Europe also on hopes of more stimulus measures for US economy [HONG KONG] Asia's stock markets rocketed yesterday, led by Hong Kong, as dealers followed a Wall Street rally on hopes of more stimulus measures forReuters, AFP, Bloomberg, AP; AFP - 632 words
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1019 2008-12-09 1 CHEW XIANG - CHEW XIANG In some cases, disclosure is late; in others, recipients are independent, non-exec directors By [SINGAPORE] Some companies have taken advantage of historically low share prices in the last quarter to issue stock options to staff and directors, a development that1,019 words
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MARKETS DIGEST
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Article46 2008-12-09 1 IT Index Closed 1 COMP Closed MKKEI 225 8,329.05 +411.54 IANG SENG 15,044.87 +1198.78 SET INDEX 410.58 +17.71 JAKARTA COMP Closed 1ANILACOMP 1,908.68 +19.72 SEOUL COMP 1,105.05 +76.92 SHENZHEN B 294.80 +12.03 IUMBAI IND 9,162.62 +197.42 11AM EST Change )OW 8,968.74 +333.32 IASDAQ 1,559.53 +50.2246 words
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Article29 2008-12-09 1 Bloomberg SINGAPORE 5.38 MALAYSIA 6.51 HONG KONG 5.00 INDONESIA 16.830 TAIWAN 6.316 JAPAN 1.675 KOREA 9.33 BRITAIN 2.00 US 4.00 CANADA 4.00 SWITZERLAND 2.07 INDIA 13.00 Source:Bloomberg - 29 words
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Article44 2008-12-09 1 US: US: 1.520 ;us$/s$ 1.472 2.237 EURO (US$,S$/E) Foreign currency p 1.277 per US$ 1.976 S$ 'EN 92.20 60.70 RM 3.640 2.395 HK$ 7.751 5.100 BAHT 35.68 23.48 RUPIAH 11,700 7,698 RENMINBI 6.881 4.528 INDIAN RUPEE 49.56 32.61 1.548 1.019 IZ$ 1.876 1.23544 words
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Page 1 Advertisements
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Advertisement13 2008-12-09 1 8 *****1 *****4 fffffpi A Bk\v H|\ xfffy 3 Ll^LlQl fy fa //w«al13 words
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Page 1 Miscellaneous
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Miscellaneous51 2008-12-09 1 SMEInc PS^9^| CHARITY FINANCIAL MARKETS ART OF WAR I Shaping Web design $tjr Uplifting moments Will tighter supervision Zap for Sun Tzu's strategies! §E§QM and marketing W of the Child Aid concert benefit investors? Win an Epson wireless PAGE 9 *tr\J*l PAGE 22 PAGE 17 projector! PAGE 7 I M51 words
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TOP STORIES
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Article, Illustration717 2008-12-09 2 Bloomberg GM, Ford and Chrysler's pledge to cut jobs may further weaken economy [SOUTHFIELD, Michigan] US carmakers' pledges for more payroll cuts to win federal aid may deepen the recession after they eliminated more than 100,000 jobs in the past three years. WhileBloomberg; REUTERS - 717 words
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Article449 2008-12-09 2 ■AP Democrat Party asks Speaker to convene Parliament session [BANGKOK] Thailand's opposition party yesterday vowed to pull the country out of a political crisis as it moved a step closer to forming the next government in a surprising reversal of fortunes that some suggested was■AP - 449 words
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THREE-MINUTE DIGEST
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60 2008-12-09 2 SOME companies have taken advantage of historically low share prices in the last quarter to issue stock options to staff and directors, a development that may cause concern to investors. In a worryingly large number of cases, the grant of options was disclosed late, raising60 words
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45 2008-12-09 2 A MAJOR bull market has bypassed a vast number of investors. With focus fixed on sliding property values, equities, corporate bonds, hedge fund investments and commodities, the sovereign bond bull market has virtually been ignored. TOP STORIES, PAGE 345 words
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64 2008-12-09 2 DESPITE months of rescue efforts, hundreds of billions of dollars in government spending and an avant-garde apparatus of financial tools, the US economy has only worsened, and at a faster rate than nearly anyone predicted. This recession now appears virtually certain to be64 words
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62 2008-12-09 2 RIPPLES from the global automotive industry's stream of bad news will likely be felt among auto-related stocks listed here, a fair number of which have China-based operations. This was brought home when plastic tooling and moulding company China Auto Corporation recently cautioned that it may62 words
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63 2008-12-09 2 DESPITE an uncertain outlook for businesses here, employers in Singapore are cautiously optimistic, with 57 per cent of hiring managers forecasting headcount growth over the next 12 months, according to a study. However, another survey found that 46 per cent of employers are63 words
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57 2008-12-09 2 CHINESE leaders yesterday began weighing possible plans to expand a massive stimulus package with higher spending on health and social programmes amid signs the economic slowdown is worsening. They also might consider proposals to boost exports and to inject government money into57 words
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531 2008-12-09 3 NEIL BEHRMANN - NEIL BEHRMANN Besides being a safe haven, the securities have locked in reasonable income A MAJOR bull market has bypassed a vast number of investors. With attention fixed on sliding residential and commercial property values, equities, corporate bonds, hedge fund investments and commodities,531 words
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Article, Illustration810 2008-12-09 3 YEN SREENIVASAN - YEN SREENIVASAN COMMENTARY Everybody will gain if airlines can compete freely everywhere HE recent opening up of the previously protected Singapore-Kua-la Lumpur corridor marks a milestone of sorts for regional air liberalisation. By moving ahead of their regional time-table for open skies, theAFP - 810 words
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Page 2 Advertisements
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Advertisement78 2008-12-09 2 The Executive Education programs at Harvard Business School, offered jointly with the HBS India Research Center, exist for one reason. The impact you make on your business. Take your organization to the next level with new perspectives from renowned thought leaders. Building a Global Enterprise in India South Asia Real78 words
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Page 3 Advertisements
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Advertisement189 2008-12-09 3 The best service centers are always marked with a star. The only authorised Mercedes-Benz Service Center in Singapore Cycle Carriage. For over 50 years, informed owners have always known that advisors to technicians, are all competently trained to ensure when it comes to their Mercedes-Benz, no one in Singapore your189 words
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FIGHTING RECESSION
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Article, Illustration932 2008-12-09 4 Bloomberg He says recession will worsen before recovery kicks in [CHICAGO] President-elect Barack Obama said the US recession will worsen before a recovery takes hold and that he will offer a plan to boost the economy "equal to the– Bloomberg; REUTERS - 932 words
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Article, Illustration1014 2008-12-09 4 MICHAEL M GRYNBAUM - MICHAEL M GRYNBAUM ■NYT Economists expect more layoffs in car, finance industries as firms tighten belts DESPITE months of rescue efforts, hundreds of billions of dollars in government spending and an avantgarde apparatus of financial tools, the US economy has only worsened, and■NYT; US government, AFP graphics - 1,014 words
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Article, Illustration638 2008-12-09 4 Reuters [STOCKHOLM] Paul Krugman, winner of the 2008 Nobel economics prize, said on Sunday that policymakers would be unable to prevent the global economic crisis from inflicting serious damage. Speaking in Stockholm where he will collect his prize, US economist Mr Krugman praised■ Reuters; REUTERS - 638 words
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COMPANY NEWS
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151 2008-12-09 5 AN investigation is underway into alleged irregularities in the administration of receivable financing facilities extended to the company, Jurong Technologies Industrial Corp announced yesterday. In a brief statement, it said that it has received a letter dated Dec 6 from its auditors, Ernst151 words
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342 2008-12-09 5 Reuters SET says the move follows protests by anti-alcohol activists [BANGKOK] The Stock Exchange of Thailand (SET) said yesterday that Thai Beverage had put its Bangkok listing plans on hold because of protests by anti-al-cohol activists. It is the latest failed attemptReuters - 342 words
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527 2008-12-09 5 TEH SHI NING - TEH SHI NING They face slowing sales amid difficult times for the global car industry RIPPLES from the global automotive industry's stream of bad news will likely be felt among auto-related stocks listed here, a fair number of which have Chi-na-based operations. This was brought527 words
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Article, Illustration473 2008-12-09 6 Bloomberg [HONG KONG] PCCW Ltd, the Hong Kong phone company that received a US$l.9 billion buyout offer from its biggest investors, may cut its dividend payment if minority shareholders reject the takeover proposal. "There can be no assurance that dividends will– Bloomberg; BLOOMBERG - 473 words
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790 2008-12-09 6 UMA SHANKARI - UMA SHANKARI THE deferred payment scheme (DPS) was introduced more than 10 years ago in the middle of the 1997 Asian financial crisis, which dented interest in Singapore's property market. Developers welcomed the scheme. The DPS allowed home buyers to put790 words
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398 2008-12-09 6 THEODORA KEE; ANGANSHING - THEODORA KEE and ANGANSHING Analysts favour Noble Group to ride through slump WITH the global economic downturn, the outlook for commodities and commodi-ties-related stocks will be bleak in the short run, analysts told BT. The advent of the crisis has already caused much turmoil within398 words
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Article, Illustration950 2008-12-09 7 Reuters Difficulties lie in law's inconsistent interpretation and implementation FACING a wave of Asian corporate defaults as the global crisis bites, debt investors are taking a close look at the protection that they can get from courts, putting pressure on– Reuters; FILE PHOTO - 950 words
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Page 5 Advertisements
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Advertisement99 2008-12-09 5 MBm F Before you buy a Club Membership, ask yourself these 4 questions: 1. Is the Club located along the Grand Prix route? 2. Does the Club have a good management team? 3. Does the Club have ample reserves for a new lease? 4. Is the Club owned, built and99 words
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Advertisement341 2008-12-09 5 Charting your course in ever-changing conditions. Navigating through turbulent times calls for expertise the kind that comes with over 140 years of financial services experience. At ÜBS Wealth Management, we are dedicated to helping you achieve your investment goals. Our Strategic Asset Allocation is an investment approach that helps you341 words
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Page 6 Advertisements
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Advertisement582 2008-12-09 6 L.^l W 3 V BUSINESS jj W A Ji^ FEDERATION fl A 1 ~r~^^^^ Apex Business Chamber m tWIm /Having a strong alnr^ support network i makes tapping into business opportunities easier. Find out how SBF can provide support for your business in challenging times. The Singapore Business Federation is582 words
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Page 7 Advertisements
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Advertisement151 2008-12-09 7 EPSON EXCEED YOUR VISION for daily Sun Tzu's I Art of War quotes Brought to you by EPSON Find out how Sun Tzu's strategic principles can be applied in modern day business and human relationship. Sun Tzu's Art of War reveals secrets for success. Win a wireless projector worth $2,588!151 words
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SINGAPORE NEWS
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Article, Illustration529 2008-12-09 8 UMA SHANKARI - UMA SHANKARI JOB OUTLOOK: DIFFERENT TAKES 7% expect to reduce staff numbers, 36% plan to maintain current headcount DESPITE an uncertain outlook for businesses here, a new survey shows that employers in Singapore are cautiously optimistic, with 57 per cent of hiring: Michael Page - 529 words
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Article, Illustration609 2008-12-09 8 CHUANG PECK MING - CHUANG PECK MING By FROM being one of the hottest markets for job seekers on earth, Singapore has turned into the least likely place you can find employment, according to the latest poll by United States-based Manpower. And the sharp turnaround, which came: Manpower - 609 words
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Article, Illustration380 2008-12-09 8 EMILYN YAP - EMILYN YAP By TURBULENT markets are leading to cutbacks in retirement savings and product innovation could be hit, but the situation will turn around when stability returns, said Swiss Re economist David Laster. "Some people are opting out of saving for retirement because they380 words
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687 2008-12-09 8 ARTHUR LEE - ARTHUR LEE COMMENTARY Like choosing durians, you can never be quite sure what you are going to get with investments these days DURIANS and investments tickled my mind this past week. I thought of buying some durians to lift my spirits amid all the negative news.687 words
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Page 8 Advertisements
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SME Inc
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Article, Illustration848 2008-12-09 9 Shaping Web design marketing BRewardsßoad.com rides on qualitative and quantitative expertise to make interactive mark, reports OH BOON PING KNOW yourself and shape your destiny. This is the motto which led Lee Kuok Ming, CEO of BRewardsßoad.com, to start the company in 2000. BRewardsßoad.com manages online marketing campaign, e-advertising, implementsFILE PHOTO - 848 words
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Article, Illustration610 2008-12-09 10 UANTCHERN LOH - UANTCHERN LOH Succession planning in a family business is a delicate matter requiring long-term commitment. Here's a checklist of things to do By HAVE you identified your successor for your family business? Do you trust him to manage the business you have built?FILE PHOTO - 610 words
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Article, Illustration684 2008-12-09 10 THEODORA KEE; MARISSA LEE - THEODORA KEE MARISSA LEE PRO-ENTERPRISE CHANGES By and TYPE the words "dating agencies in Singapore" on a search engine and one would be richly rewarded with pages listing companies that offer a myriad of services from escort services to marriage consultancy to matching of foreign brides.FILE PHOTO - 684 words
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Article, Illustration802 2008-12-09 11 Take advantage of collaborative computing tools to communicate with customers and drive sales, writes NEERAJ SHAABI IS YOUR e-mail inbox besieged by a barrage of friendly requests that you end up ignoring? Do you hear about people posting on each other's "Walls" and wonder whatFILE PHOTO - 802 words
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Page 9 Advertisements
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Advertisement165 2008-12-09 9 Call 6-594 7777 now for the Payroll Specialist PAYDAY! Payroll Serve time to relax www.PayrollServe.com.sg Improving lives through AO^ hS^M d^GH j*life advanced technologies. j aSsjtaafiT Hitachi Advanced Open MRI «UWL Hfel2&*MfS Quick> re iab e and C( t _effective. ~>^ ?j 7j JL* Hitachi's goal is to empower society165 words
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Page 10 Advertisements
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Advertisement17 2008-12-09 10 Lianhe Zaobao I I Action Asia's *I I strategies to maintain 1| I financial I crisis Jj17 words
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Page 10 Miscellaneous
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Miscellaneous219 2008-12-09 10 SME The enhanced business financing schemes announced by the government two weeks ago take effect this month. The objective of the $2.3 billion package is to help ensure local firms have sufficient resources to continue to operate, invest, trade and internationalise even as caution on the part of financial institutions219 words
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Page 11 Advertisements
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Advertisement311 2008-12-09 11 A SATS PT INTERNATIONAL NICKEL INDONESIA Tbk ANNOUNCEMENT OF THE RESULTS OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS It is hereby announced to all shareholders of PT International Nickel Indonesia Tbk. ("PT lnco"or"the Company") that the Extraordinary General Meeting of Shareholders held on Friday, December 5,2008 (the "Meeting") has resolved:311 words
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Advertisement1061 2008-12-09 11 A special feature brought to you by ITU r* i k ar\or a i *W T WIS MmiVAT^L IIQ University at Buffalo JI IV EDUCATION The State University of New York Reaching new n-.^ business I^^^^^^ MR Tony Quek, 58, embarked on an interesting journey of learning 3^^ and self-disco1,061 words
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ECONOMY WATCH
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748 2008-12-09 12 Bloomberg Yields on Treasuries fall as the US govt sells record debt to prop up economy [TOKYO] Japan's biggest bond investors say that US President-elect Barack Obama has room to unleash a flood of Treasuries without driving up borrowing costs as he tackles theBloomberg - 748 words
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493 2008-12-09 12 Bloomberg [TOKYO] Lending by Japanese banks accelerated at the fastest pace in 16 years, as the global credit squeeze shut off other funding avenues for companies in an economy that's slowing more sharply than expected. Loans, excluding those by credit associations, rose 3.6Bloomberg - 493 words
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Article, Illustration601 2008-12-09 12 Reuters [CANBERRA] The Australian government delivered more than AsB billion (557.9 billion) in cash payments to families and pensioners from yesterday to stop the economy from sliding into recession and urged people to spend the money ahead of Christmas. The cash is part of■ Reuters; REUTERS - 601 words
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Article, Illustration821 2008-12-09 12 Reuters [GENEVA] Big gaps remain in the positions of trade powers and the latest negotiating texts from the World Trade Organisation (WTO) issued late on Saturday show that a new deal to open up global commerce is far from certain. TheReuters - 821 words
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514 2008-12-09 12 JANE MOIR - JANE MOIR By in London AS Britain heads towards a recession, deflation is becoming the latest threat to the economy as prices continue to fall, traders struggle to turn a profit, and consumers wait on the sidelines. Consumer price inflation in October saw514 words
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MALAYSIA/INDONESIA
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408 2008-12-09 13 AP Deal part of efforts by former to modernise line-up, improve quality [KUALA LUMPUR] Malaysian national carmaker Proton has formed an alliance with Japan's Mitsubishi Motors Corp to jointly build a new car as part of efforts to modernise its vehicle line-upAP - 408 words
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Article, Illustration664 2008-12-09 13 AFP [JAKARTA] One of the world's most polluted rivers, the Citarum in Indonesia, is about to receive a massive clean-up that will improve the lives of millions of people, the Asian Development Bank (ADB) said last Friday. The regional bank saidAFP - 664 words
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570 2008-12-09 13 [KUALA LUMPUR] At a time when most companies are reluctant to incur costs on capital expenditure (capex), Scomi Marine Bhd plans to invest some US$l5O million in the next three years to expand its fleet of marine vessels, according to a report in Starßiz.570 words
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224 2008-12-09 13 Reuters [JAKARTA] Indonesia will give geographic labels for its Arabica gourmet coffee this month, the first such label aimed at protecting the country's high-end brand coffees, a senior government official said last week. The Justice and Human Rights Ministry will giveReuters - 224 words
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239 2008-12-09 13 Reuters [KUALA LUMPUR] The annual pace at which Malaysia's factory output is contracting is expected to have accelerated in October due to falling global demand and lower commodities prices, a Reuters poll shows. The industrial production index, which measures manufacturing, mining and■ Reuters - 239 words
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287 2008-12-09 13 Reuters [KUALA LUMPUR] Malaysian Islamic reinsurer ACR ReTakaful SEA wants to grow in Indonesia, Brunei and Bangladesh, seeing long-term prospects for the business despite a global economic downturn, the firm said on Friday. Rising demand for sharia banking products would drive the takaful, orReuters - 287 words
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Page 13 Advertisements
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Advertisement21 2008-12-09 13 TUNE IN TO BIGGEST HITS OF THE 90S OSXEUS BROWN TILL NOW! the p^s&rsrO^rl dolls ONLY ON RAD9O 100% PURE FUN21 words
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GREATER CHINA/INDIA
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966 2008-12-09 14 -Reuters It needs to wean off dependence on exports in favour of local consumption [BEIJING] Who would have thought, a few months ago, that China might end up remembering 2008 not for the Beijing Olympics or May's Sichuan earthquake but for-Reuters - 966 words
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Article, Illustration567 2008-12-09 14 AP [BEIJING] Chinese leaders began weighing possible plans yesterday to expand a massive stimulus package with higher spending on health and social programmes amid signs that an economic slowdown is worsening. The meeting of top planners also might consider proposals to boost exportsAP; Bloomberg Graphics - 567 words
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Article, Illustration571 2008-12-09 14 Reuters He expects the greenback to head lower [BEIJING] One of the top managers of China Investment Corp (CIC), the country's US$2OO billion sovereign wealth fund, reckons that current US dollar strength is temporary and he would like to bet thatReuters - 571 words
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456 2008-12-09 14 -AFP [NEW DELHI] India's ruling Congress party has scored unexpected wins in a string of state elections, officials said yesterday, defying predictions of a voter backlash after the Mumbai attacks and an economic downturn. Election Commission officials said the governing-AFP - 456 words
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877 2008-12-09 14 Bloomberg More boost needed instead of relying on monetary policy [NEW DELHI] Indian Prime Minister Manmohan Singh's spending plan and interest rate cuts unveiled over the weekend may not be enough to prevent economic growth slowing to the weakest paceBloomberg - 877 words
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ASIA-PACIFIC/WORLD
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668 2008-12-09 15 Reuters But some refiners say that demand is so poor that less Saudi oil is welcome [LONDON] Top oil exporter Saudi Arabia will make even bigger oil supply cuts to some of its Asian and European customers next month,Reuters - 668 words
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Article, Illustration628 2008-12-09 15 Reuters [LONG BEACH, California] From pricey luxury sedans to popular hybrid cars, vehicles made overseas are stacking up at ports and parking lots around the United States as supplies far outstrip demand amid the worst US vehicle market in moreReuters; REUTERS - 628 words
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312 2008-12-09 15 AP [MILAN] Formula One team Ferrari is planning to accelerate its cost-cutting plans for next year in the wake of Honda's pullout from the sport. "This process had already begun over the last few years. But now it's going to have a sharpAP - 312 words
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539 2008-12-09 15 AP Vancouver's Olympic organisers cut back on travel and hiring [VANCOUVER] Belt tightening has become the latest Olympic event. While revenue sources for the 2010 Winter Games have not been affected by the economic turmoil so far, Vancouver's Olympic organisers are preparing for theAP - 539 words
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345 2008-12-09 15 ■AP Americans driving 4.6% less on nation's highways [WASHINGTON] The public transportation systems in the US saw the largest quarterly ridership increase in 25 years as more Americans shunned their automobiles even as petrol prices began to ease, according to industry■AP - 345 words
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WORLD WATCH
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114 2008-12-09 15 -AFP [HONG KONG] Global banking giant HSBC has set up a US$5 billion fund to help small and medium sized businesses get access to credit during the global financial crisis, the bank said. The fund represents money "over and above" what the bank-AFP - 114 words
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127 2008-12-09 15 [TOKYO] Hedge fund Citadel Investment Group will close down its Tokyo office and Asian principal investments operations by the end of the year, cutting 37 jobs in the region. Citadel's Asian investments will be run from Hong Kong in the future."We continue to evolve the127 words
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136 2008-12-09 15 Reuters [LONDON] Gavin Mac Donald, the head of mergers and acquisitions at Morgan Stanley, has died. He was 47. Mr Mac Donald died on Friday evening, after suffering a heart attack at Morgan Stanley's offices in Canary Wharf, London, earlier last week, MorganReuters - 136 words
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96 2008-12-09 15 Bloomberg [LONDON] Emerging market economies reliant on foreign lending may be left vulnerable by the current squeeze on credit, the Bank for International Settlements said. Outstanding foreign loans to emerging market economies reached US$4.9 trillion in the middle of this year, a fourfold increase from theBloomberg - 96 words
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Article106 2008-12-09 15 Reuters [AMSTERDAM, Holland] Belgian-Dutch financial services group Fortis has increased the selling price of its Belgian insurance unit, which French peer BNP Paribas agreed to buy, a Dutch newspaper said yesterday. Fortis, which was partly nationalised by the Benelux governments and partly bought by BNPReuters - 106 words
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WORLD
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Article, Illustration776 2008-12-09 16 ■AP Job losses will swell unemployment numbers, drain New York of tax dollars [NEW YORK] The US financial services industry is witnessing the bursting of yet another bubble. This time, it's the industry itself. Bloated by years of frenzied growth, Wall Street banks and other firms■AP; AP - 776 words
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Article, Illustration372 2008-12-09 16 Thain seeking 2008 bonus of US$ 10m: WSJ Reuters Battered Merrill's compensation body is resisting request [NEW YORK] MerriU Lynch chief executive John Thain has suggested to directors that he get a bonus of as much as US$lO million for this year, but the battered company's compensation committee is resisting– Reuters - 372 words
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415 2008-12-09 16 Reuters [LONDON] Executive pay will be the most important corporate governance issue next year for pension fund investors wrestling with the fallout from the financial crisis, the governance chief for Railpen Investments said. Deborah Gilshan told Reuters worried trustees will be more inclined■ Reuters - 415 words
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Article, Illustration520 2008-12-09 16 LAT-WP [WASHINGTON] Media giant Tribune Co, saddled with billions in debt since it became a privately-held company last year, has hired bankruptcy advisers, according to its flagship newspaper, the Chicago Tribune. The Chicago-based company owns a coast-to-coast empire with television stations and newspapers in mostLAT-WP; BLOOMBERG - 520 words
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700 2008-12-09 16 -NYT [CHICAGO] The scene inside a long, low-slung factory on this city's North Side over the weekend offered a glimpse at how the nation's loss of more than 600,000 manufacturing jobs in a year of recession is boiling over. Workers laid off-NYT - 700 words
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NBS-BT ROUNDTABLE
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Article, Illustration3023 2008-12-09 17 OVERVIEW FINANCIAL engineering was a respected area in the business world till quite recently. However, since the outbreak of the global financial crisis, not only has it lost its glamour, but it is also being blamed for having helped create the mess that financial markets3,023 words
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AVIATION
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Article, Illustration706 2008-12-09 18 NYT Deal with Austrian govt would allow it to become Europe's largest airline [PARIS] A week of frenetic aviation merger activity across Europe culminated last Friday when the Austrian government accepted an offer for its flag carrier from Lufthansa, which would allow it toNYT; AP - 706 words
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550 2008-12-09 18 -Reuters [SYDNEY] Qantas Airways Ltd warned investors that its proposed US$5.6 billion merger with British Airways pic (BA) faced major obstacles over the terms of the deal and stressed that there was a reasonable chance that talks would fail. Qantas chief executive Alan-Reuters - 550 words
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328 2008-12-09 18 Reuters [CHICAGO] Relatively cheap fuel and major downsizing will lead to US airline profits in 2009, analysts say, but a mediocre rebound by airline stocks since July shows equity investors are less optimistic. In the first half of this year, US airlineReuters - 328 words
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220 2008-12-09 18 Reuters [LONDON] Environmental activists briefly stopped flights at London's Stansted airport yesterday after breaking through to the runway, police and airport officials said. At least 21 outbound flights were cancelled before the runway reopened at around 8.15 am (0815 GMT), said a spokeswoman forReuters - 220 words
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Article2626 2008-12-09 18 AIRLINE CODES: AA American Airlines (AAL), AF Air France (AFR), AI Air India (AIC), AY Finnair Oy (FIN), AZ Alitalia Airlines (AZA), BA British I Araays Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), Bl Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU),2,626 words
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Page 18 Miscellaneous
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Miscellaneous370 2008-12-09 18 CRYPTIC CROSSWORD 1 Become stupid -in short, ro- l__^l__^l__Bß__I l__^J__^J_ mantic(6) I'll1 II 5 Suffer in isolation much less 9 Like a basic package imply- i j .1 j I ing a lack of excitement for 10 Boy of six about to visit Dart- j I moor hill? (6) BJ370 words
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AVIATION/SHIPPING
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Article, Illustration886 2008-12-09 19 AP Last week's failed attack on luxury US liner highlights threat to passengers [ATHENS] It's an insurer's nightmare: Heavily armed pirates, emboldened by their success in capturing cargo vessels, hijack a cruise ship with hundreds of well-heeled passengers and ask for massive ransoms.AP - 886 words
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307 2008-12-09 19 Reuters [KUALA LUMPUR] Ships have been told to keep a lookout to guard against pirate attacks in the South China Sea off eastern Malaysia following an attack on a vessel last week, the International Maritime Bureau (1MB) said over the weekend. TheReuters - 307 words
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Article, Illustration489 2008-12-09 19 AFP Airlines still recovering from massive fuel cost [PARIS] The prices of air tickets should start coming down soon because of the world financial crisis, observers are predicting, while ruling out a plunge that would endanger the health of airlines. "If you keepAFP - 489 words
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398 2008-12-09 19 Bloomberg [BEIJING] Singamas Container Holdings Ltd, the sec-ond-biggest maker of boxes for shipping goods, is operating at 60 per cent of its seasonal output level after customers failed to get financing in the global credit crunch. Orders at the Hong Kong-based– Bloomberg - 398 words
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239 2008-12-09 19 ■AFP [PARIS] European Aeronautic Defence and Space Company (EADS) might have to recapitalise its main arm, the Airbus aircraft maker, with more than 2.0 billion euros (Ss3.B billion), possibly also simplifying the business, a newspaper reported last Friday. The European aerospace group might■AFP - 239 words
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306 2008-12-09 19 Bloomberg [NEW YORK] The cost to transport crude oil from the Caribbean on Aframax tankers may have peaked after rising 54 per cent last week amid a shortage of ships, broker Galbraith's said. Vessels last week were hired for an average rate ofBloomberg - 306 words
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TRANSPORT STOCKS
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Article101 2008-12-09 19 '000 CH Offshore 0.23 Chuan Hup Hldgs 0.20 Cosco Corp 0.87 CWTLtd 0.33 Ezra Hldgs 0.66 First Ship Lease 0.51 Freight Links 0.04 Grand Banks unch lava Hold Ltd 0.32 KiVentures 0.14 Keppel Corp 3.81 MTQCorp 0.53 NOL 1.00 Pacific Shipping 0.13 Pan-United Corp 0.35 Rickmers Mari 0.40 Samudera101 words
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Article36 2008-12-09 19 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings NeplineBhd PDZ Holdings 0.52 8.50 8.50 2.13 2.32 0.05 unch -0.01 unch unch -0.03 -0.01 -0.01 unch 10 599 1885 246 17 33 036 words
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Article12 2008-12-09 19 '00 ■recious Ship Jegional Cont 10.20 5.90 0.40 0.25 3914 73212 words
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Article22 2008-12-09 19 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 5.40 15.00 unch unch unch 0.50 unch unch 37 112 0 022 words
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Article22 2008-12-09 19 Evergreen Marine ....16.15 :irst Steamship 29.95 /Van Hai Lines 14.70 r"ang Ming Marine...10.40 0.20 1.95 0.95 0.68 16 5 2 4322 words
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Article37 2008-12-09 19 '000 :awasaki Hvy Ind ..185.00 19.00 ***** :awasaki Kisen 353.00 17.00 4908 /litsubishi Hvy 388.00 23.00 ***** /litsui Eng&Sbldg...126.00 9.00 7999 /litsui Osk Lines 469.00 13.00 ***** Jippon Express 404.00 15.00 2151 lipponYusen 468.00 25.00 682737 words
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EDITORIAL & OPINION
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496 2008-12-09 20 WHAT might 2009 hold in store for stock markets? Analysts and brokers who grossly overstated expected returns while underestimating market risk this time last year, have been busy over the past weeks trying to forecast how equities might perform next year. The496 words
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Article, Illustration1233 2008-12-09 20 ELAINE KURTENBACH - ELAINE KURTENBACH -AP Many researchers believe such methods are essential for a second 'green revolution' By ZENG Yawen's outdoor laboratory in the terraced hills of southern China is a trove of genetic potential rice that thrives in unusually cool temperatures, high altitudes or-AP; AP - 1,233 words
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Article, Illustration781 2008-12-09 20 ROBERT SAMUELSON - ROBERT SAMUELSON The Washington Post Writers Group THE BOTTOM LINE IF you are Federal Reserve chairman Ben Bernanke, you are America's most powerful economic policymaker and will remain so after the inauguration of Barack Obama. The decisions you make or don't make will decisively influence theThe Washington Post Writers Group - 781 words
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Article, Illustration1237 2008-12-09 21 AMITENDU PALIT - AMITENDU PALIT Carnage of Nov 26-29 will have moderate, short-lived impact as the country's fundamental attributes still remain By THE Munibai terrorist carnage of Nov 26-29 have given rise to many new worries. Foremost among these are apprehensions over the repercussions of the attackREUTERS - 1,237 words
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Article, Illustration872 2008-12-09 21 WILLIAM PESEK - WILLIAM PESEK By ATTENDING Islamic finance conferences these days, it's hard not to notice how this investment class is catching on. The world's roughly 1.5 billion Muslims need a way to bank and invest according to syariah law, which bars receiving or payingAP - 872 words
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CHILDAID 2008
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Article, Illustration395 2008-12-09 22 CHILDREN of all ages came together to do their part for charity in musical extravaganza Child Aid and raised a record $506,000. Child Aid is an annual showcase of young musical talent organised by The Business Times and The Straits Times to raise money for underprivileged children.YEN MENG JIIN and CAROLINE CHIA/THE STRAITS TIMES - 395 words
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FINANCE & COMMODITIES
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362 2008-12-09 23 %dy %yr dy yr dy yr Index Change Change Change Change Change Change Dec 5 World Index Preliminan 621.8 -2.3 -45.1 -2.6 -45.2 -2.6 -48.2 EAFE Preliminai 600.9 -2.6 -46.4 -3.0 -48.9 -3.0 -51.7 Euro[ Preliminan 848.3 -3.7 -45.0 -4.4 -52.1 -4.4 -54.1 Pacific 493.3362 words
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Article130 2008-12-09 23 As at 9am Dec 8 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 0.9790 1.0120 dollar 1.1890 1.2040 Euro 1.9300 1.9550 NZ dollar 0.8090 0.8280 iterlini ind 2.2270 2.2560 US dollar 1.5120 1.5320 Local dollars to 100 units of foreign currency:130 words
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Article181 2008-12-09 23 Dec 5 fer Bid Overnight 1-month 2-months 3-months Overnight mode: 5/8 ys$ 3/16 3/4 7/8 15/16 Offer 1/16 1/2 5/8 11/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months $Au 1.20 2.40 2.50 2.60 3 00 3.10 3.20 Offer 0.70 1.90181 words
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Article19 2008-12-09 23 Dec 8 STI IIMSCI Dec "aiwan Dec 159 170.8 169.1 Source: MF Global (S) He. Ltd19 words
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Article24 2008-12-09 23 Dec 5 SS Bid Offer 1-month 1.5182 1.5197 2 months 1.5166 1.5182 3 months 1.5148 1.5165 6-months 1.5099 1.5116 Source: OCBC24 words
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Article57 2008-12-09 23 Dec 5 lelivery lonth Opening Range Sett Av Price Price Hi Vol Open Done Position Low }ecO8 1400 Ian 09 1406 :eb09 1408 VlarO9 1440 fatal o/p: ***** contracts 1485 1494 1398 516 1495 1495 1395 660 1499 1499 1396 7829 1497 1500 1400 1595 Turnover: ***** lots57 words
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Article295 2008-12-09 23 Dec 8 VOL OP/INT EURODOLLAR FUTURES DecO8 MarO9 JunO9 SepO9 97.8600 98.1200 98.1750 98.1450 6684 ***** 4565 3591 EUROYEN TIBOR FUTURES DecO8 99.105 99.105 MarO9 99.230 99.230 JunO9 99.255 99.255 SepO9 99.315 99.315 DecO9 Mar10 Jun10 Sep10 99.105 99.195 99.255 99.315 99.110 99.245 99.285 99.320 99.310 99.200295 words
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Article193 2008-12-09 23 Dec 5 (UBBtK Futures (Closing prices) !SS 3 (US cents/kg) flonth High Low Close Sett Volume (lots) O/l lots) Ian 09 109.5 =eb 09 108.0 VlarO9 109.0 <\prO9 112.0 VlayO9 112.0 lunO9 112.0 106.5 107.5 108.5 111.0 111.0 111.0 109.5 113.5 115.0 117.5 117.5 117.5 148 8 8193 words
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Article88 2008-12-09 23 Dec 5 Period Issue code Maturity Yesterday's Bid Hi< Day's |h Low 3-Month BQ*****F 05.03.09 1-Year BY*****V 02.11.09 0.64 0.77 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid HJS Day's cjh Low 2-Year NXOO1OOT 4.625 5-Year NXO31OOZ 2.250 7-Year N*****0S 2.875 10-Year NY*****A 4.000 15-Year NY*****X88 words
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Article105 2008-12-09 23 Dec 5 SOYBEANS (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Jan 09 783.50 811.00 798.00 777.00 Mar 09 787.25 815.50 801.00 780.00 May 09 794.75 823.75 809.00 787.50 Jul 09 805.00 833.00 818.00 797.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 08 28.25 29.22 28.63105 words
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Article79 2008-12-09 23 CRUDE OIL PRODUCTS Dec 5 UDE (FOB origin) US! t /barrel Close Cham Brent blend (1-Mth F) 41.86 -2.48 WTI (Near Mth) 41.33 -2.18 Dubai (1-Mth F) 40.78 -2.16 Tapis blend 44.55 -2.20 Minas 41.35 -2.85 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 26.90 58.50 -0.27 0.10 US$/barrel79 words
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Article461 2008-12-09 23 Dec 5 Rmb Euro HK! Ind Rs Rui Yen Won RM NZ! PakRs Peso Rand Sfr NT! Baht Pound us: Australia 0.825 4.445 0.506 5.007 32.018 75.576 0.596 9.533 2.351 1.212 50.881 31.939 0.982 6.590 0.775 21.720 23.051 0.439 0.646 Canada 1.212 5.387 0.613 6.068 38.803 91.592461 words
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Article76 2008-12-09 23 Dec 5 (US$) (SS) 1.***** 0.***** 1 mth 2 mths 2.***** 0.***** 3 mths 2.***** 0.***** mths 2.***** 1.***** mths 2.***** 1.***** 12 mths 2.***** 1.***** SWAP Offer rates (S$) 1 mth 1.***** 2 mths 1.***** 3 mths 1.***** 6 mths 1.***** 9mths 1.***** 12 mths 1.***** SWAP Mid76 words
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Article154 2008-12-09 23 Dec 5 Against SS Currencies Bid Offer Against US$ Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 0.9810 0.9823 0.6458 0.6461 Canadian dollar 1.1889 1.1905 0.7827 0.7830 Euro 1.9390 1.9411 1.2764 1.2767 NZ dollar 0.8092 0.8107 0.5327 0.5332 Sterling 2.2354 2.2379 1.4715 1.4719 US154 words
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Article131 2008-12-09 23 Dec 8 Jong Kong .ondon 772.50 768.20 773.50 769.20 Dec 05 Dec 04 747.10 771.75 749.10 773.75 Source: Thomson Reuters CAST BAR M) Dec OS Buying Sellini Kilobar "40,734.90" ***** PAMP GOLD BARS (SS) Selling Buying gm jgm Ogm !0gm JOgm OOgm oz ozUBS Kinebar™ 90.95 258.94 462.24131 words
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Article69 2008-12-09 23 Dec 5 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1445.20 1540.80 3 months 1491.00 1586.00 Copper, Grade A (US$/tonne) Cash 3 months 3024.00 3050.00 3248.00 3270.00 Lead (US$/tonne) Cash 3 months 956.00 970.00 964.50 978.00 Nickel (US$/tonne) Cash 3 months 8934.00 9050.00 9130.00 9250.00 Tin (US$/tonne) Cash *****.0069 words
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Article64 2008-12-09 23 DecS COCOA (Btonne) Close Prev Hii ih/Low Dec 08 1635 1754 1744/1630 Mar 09 1490 1534 1540/1481 May 09 1494 1534 1543/1488 JulO9 1503 1544 1550/1499 COFFEE (US$/tonne) Close Pev High/Low Jan 09 1788 1802 1820/1741 SUGAR (US tonne) White Close Prev High/Low Mar 09 294.8 307.7 306.5/293.7 May64 words
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Article2630 2008-12-09 23 BONDS WARRANTS Fel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price 'rem Expiry Disc Gear- Mths ing Left >058 Advance Modules GrpW*****3 >036 Advance SCT Ltd W*****9 6 susp 0.5 1 1 17 87 156 1.50 1150 14.00 44 20 S092 Asia Environment W*****4 2 1 2812,630 words
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Page 24 Advertisements
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Advertisement2738 2008-12-09 24 m The Business Times Shipping Times m i^^e itf K^j^m *^BJtl^3»k?^Aiff?Wtf^Pf!l;wß m\\ wan hai international pte ltd fc^~^ LB CiT TTr" ia^^|j|^|Uyß WS^^^^TlMMm^Ji^fMMM I V^rA |ll«|l HAI Ulirr TEL *****588 (14 LINES) FAX:*****163 1 »i^^: lliriy: BSBBBaBBSBHISaaBSSBIW WTlMNmGlMmmwi!!!!^^ I \\\N I WAN HAI INtS C»»l«n« Servke/Booliings Krecl line (IBOO> *****2002,738 words
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Page 25 Advertisements
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Advertisement3996 2008-12-09 25 FVI H R HrFT EASTERN CAR LINER, LTD |^mM|'i'i;icmiHj| W_i^__l SPECIALIZE IN RORO& HEAVY LIFT UPTO 450 TONS P^^M IWBBBaiESffli^^^^^M' VOY I Romp(KT) I L,llmq(KT> I MUA I SIN I PKL I LCB I )KT I SUR I VOY EIA EID D' llHi PSL SERVICE Connecting AMX Service via P.KLANG3,996 words
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PROPERTY
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Article, Illustration563 2008-12-09 26 GREG LOWE - GREG LOWE Analysts forecast 10-20% price fall in HlO9 as foreign buyer pool dries up THE luxury condominium market will dive next year as the global economic downturn continues to dry up the much-needed pool of cash-rich foreign investors, local property analysts said.AFP - 563 words
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278 2008-12-09 26 Bloomberg [LONDON] The UK commercial property market is in the middle of its worst slump on record and won't recover for at least another two years, a report by the Royal Institution of Chartered Surveyors (RICS) showed. Values for offices, stores and– Bloomberg - 278 words
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665 2008-12-09 26 Reuters [HINSDALE, Illinois] Less than a year ago, few people in this affluent Chicago suburb expected that the US sub-prime housing crisis would hit close to home. "We thought Hinsdale was virtually immune and we wouldn't see any foreclosures, but we have,"Reuters - 665 words
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Article, Illustration892 2008-12-09 27 Bloomberg Memories revived of 1997-98 Asian crisis, when prices slumped two-thirds from peak [HONG KONG] Hong Kong home prices, down almost a quarter from their fiveyear high in March, may drop further as the credit crisis drives up joblessness andBloomberg; AFP - 892 words
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311 2008-12-09 27 Bloomberg [HONG KONG] Hong Kong office rents may fall in 2009, as the global financial crisis hurts the city's economy, property adviser DTZ Holding pic said. "Office rents in Hong Kong, especially those for grade A offices, would be mostly affected asBloomberg - 311 words
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Article437 2008-12-09 27 Reuters It wants to take advantage of prices in weak market [HONG KONG] Developer Henderson Land plans to persuade the Hong Kong government to sell agricultural land so that it can take advantage of cheaper prices as the property market weakens, an executive said■ Reuters - 437 words
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Advertisement1157 2008-12-09 26 Jasper Investments I imilprt (Company Registration No. *****0983H) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Jasper Investments Limited (the "Company') will be held on 24 December 2008 at 9.30 a.m. at The Island Suite, Level 2,1,157 words
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Advertisement102 2008-12-09 26 FREEHOLD cf^^VT Land Area-200,095 Sq ft (Remnant Lots-21,397 Sq ft) /^f7^ GARDEN /<? M^Lssm-jj p| otßatiol 4 U p to s. Stor ey S (42AMSL) Tender Close at 13 January 2009 3.00PM DEANS REALTORS PTE LTD *:V™l Licence No. ADO4I-*****61J I Jil .1 i*J 989 Serangoon Road, Singapore *****8 Tel:102 words
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Advertisement119 2008-12-09 26 ZAP HERE for the latest property updates! To Zap*: 1. Install the Color Cam™ software in your mobile phone by a. typing the word "Zap" sms ***** b. typing "zapcodesg" in the web browser of your handset 2. Trigger the Color Cam™ software (located either in "Games" or "Applications" folder119 words
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Advertisement53 2008-12-09 27 tGRANGEFORD Prime Living in Leonie Hill for Lease Located in the Leonie Hill Minutes to Orchard Road v I^/ and SomersetMßT ~'*IVr?M Immediate occupation 2 3 bedrooms, spacious Partially Fully furnished Full condo facilities Maid service available External agents welcome Full commission payable Sylvester 9660 8324 Jessica 9298 9012 Wilson53 words
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Advertisement162 2008-12-09 28 in Your Link To Business Success I|S""~F3 Located next to the Tuas Biomedical Park, Linkpoint Place provides versatile business space fej^' \-Zj for the general industries. Its generous floor space and good ceiling height can accommodate D 5 most production and logistic operations. Coupled with its easy access to the162 words
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