The Business Times, 6 May 2009

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg SfSl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 197/08/2008 Wednesday, May 6,2009
    23 words
  • 960 1  -  CONRAD TAN Obama's proposal may wipe out lure of tax savings here for American MNCs By [SINGAPORE] The sweeping changes to US tax rules proposed by President Barack Obama on Monday could deal a painful blow to Singapore, Hong Kong, Ireland and other
    AP  -  960 words
  • 507 1  -  WINSTON CHAI Telco could reap huge returns from divestment over next five years [SINGAPORE] Singapore Telecommunications has been given the deadline of April 2014 to divest more than 75 per cent of its local Internet assets a move which could
    507 words
  • Page 1 Advertisements
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  • Page 1 Miscellaneous
    • 43 1 MESBM TRANSPORT HUB BT-NBS EXEC MONEY US ECONOMY fe Porsche changes ROUNDTABLE Retail investment Bernanke warns of «w" m marketing strategy Are today's CEOs really not all gloom and doom credit market relapse ILJBb^h page 21 overpaid? page 13 page 30 page 2
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  • TOP STORIES
    • 596 2 Bloomberg BERNANKE ON US ECONOMY He warns that a relapse in financial conditions would be a significant drag [WASHINGTON] Federal Reserve chairman Ben S Bernanke warned that another shock to the financial system would undercut the central bank's forecast that the US recession will
      Bloomberg  -  596 words
    • 880 2  -  SIOW LI SEN Diversification is more appreciated now, says MAS By [SINGAPORE] Singapore and the region will attract more funds from the Middle East as the global financial crisis has underscored the importance of diversification, says Monetary Authority of Singapore (MAS) managing
      880 words
    • 469 2  -  TEH SHI NING CHINA SUN SAGA By [SINGAPORE] China Sun Bio-chem's independent directors (IDs) have called for an urgent board meeting this afternoon, but it is unclear whether the other Chi-na-based executive directors (EDs), including CEO Sun Guiji, will show up. On
      469 words
    • THREE-MINUTE DIGEST
      • 49 2 THE sweeping changes to tax rules proposed by US President Barack Obama on Monday could deal a painful blow to Singapore, Hong Kong, Ireland and other locations favoured by US multinational firms for their overseas operations, tax firms here said. FRONT PAGE
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      • 45 2 SINGTEL has been given the deadline of April 2014 to divest more than 75 per cent of its local Internet assets, a move which could yield substantial returns over the next five years. FRONT PAGE
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      • 44 2 US FEDERAL Reserve chairman Ben Bernanke warned that another shock to the financial system would undercut the central bank's forecast that the US recession will give way this year to a slow recovery. TOP STORIES, PAGE 2
        44 words
      • 42 2 SINGAPORE and the region will attract more funds from the Middle East as the global financial crisis has underscored the importance of diversification, says MAS managing director Heng Swee Kiat. TOP STORIES. PAGE 2
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      • 70 2 FRESH signs that the US economy has already hit the bottom of the current recession inspired a fresh round of buying on Wall Street on Monday. But the investor optimism appeared to stall in the face of reports yesterday that 10 of the 19 banks
        70 words
      • 43 2 ST ENGINEERING'S net profit for the first quarter ended March 31 fell 30.4 per cent to $85.2 million, from $122.5 million a year earlier. The group said sales were largely flat. COMPANY NEWS, PAGE 6
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      • 53 2 SALARIES for those working in sectors such as engineering and sales and marketing have fallen by up to 20 per cent, a new survey has found. But there is better news for those in "resilient" industries such as health care, biotechnology and energy. SINGAPORE
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      • 46 2 AUSTRALIA'S central bank yesterday held its key cash rate at a record low of 3 per cent, saying the full effect of past stimulus had yet to be felt and pointing to signs of stabilisation abroad. ECONOMY WATCH, PAGE 14
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      • 37 2 STANDARD Chartered yesterday reaped the benefits of a focus on Asia and a resilient loan book as it weathered the financial crisis to report record first-quarter profits. ASIA-PAC/WORLD, PAGE 17
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    • 411 2 OUE and master tenant Ideal told to restore units to original condition [SINGAPORE] Overseas Union Enterprise (OUE) and its master tenant at the Grangeford condo have been instructed to restore the apartments to their original condition. Ideal Accommodation, the master tenant, had subdivided apartments into
      YEN MENG JIIN  -  411 words
    • 845 4  -  ANDREW MARKS Stocks break even for the year but stress-test reports bring headwind in New York FRESH signs that the economy has already hit the bottom of the most severe recession to hit the United States in decades inspired a fresh round of buying on
      AP  -  845 words
    • 516 4 Reuters, AFP They could include Citi, Wells Fargo and BOA, says report [WASHINGTON] About 10 of the 19 largest US banks being stress tested will be instructed by regulators to raise more capital, according to a source familiar with official talks.
      Reuters, AFP; : Thomson Reuters; Reuters Graphics  -  516 words
    • MARKETS DIGEST
      • 46 4 Tuesday Change KL COMP 1,008.87 -0.49 NIKKEI 225 Closed HANG SENG 16,430.08 +49.03 SET INDEX Closed JAKARTA COMP 1,772.07 -16.08 MANILA COMP 2,197.23 +59.61 SEOUL COMP Closed SHENZHEN B 378.28 +1.92 MUMBAI IND 12,131.08 -3.67 12 noon EDT Cham DOW 8,410.89 -15.85 NASDAQ 1,745.15 -18.41
        46 words
      • 30 4 SINGAPORE 5.38 MALAYSIA 5.53 HONG KONG 5.00 INDONESIA 16.560 TAIWAN 4.826 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.53 INDIA 12.25 Source c: Bloomberg
        c: Bloomberg  -  30 words
      • 47 4 uss SS IS$ (S$ per US$) 1.473 (USS/SS per 1.504 2.215 ;URO (US$/S$/E) 1.335 1.967 Foreign currency per US$ S$ 'EN 99.00 67.20 3.514 2.385 IK$ 7.750 5.260 !AHT 35.15 23.85 lUPIAH 10,420 7,072 lENMINBI 6.820 4.629 INDIAN RUPEE 49.55 33.63 1.351 0.917 IZ$ 1.733 1.176
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    • 113 5 j ES X EE ZQqecjS Ep^3 p ||B9|fIMHBHHBH fe^ Issued by The Hongkong and Shanghai Banking Corporation Limited, which is incorporated in the Hong Kong SAR with limited liability. The image of the HP Mini notebook featured is for illustration purposes only, and does not reflect the actual unit that
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  • COMPANY NEWS
    • 490 6  -  CHEW XIANG The company increases its order book to an all time high of $11.03b SINGAPORE Technologies Engineering's net profit for the first quarter ended March 31, 2009, fell 30.4 per cent to $85.2 million, from $122.5 million a year earlier. The
      490 words
    • 382 6  -  ONG BOON KIAT By CREATIVE Technology yesterday reported a net loss of US$4l.B million for its third quarter, against a profit of US$3 million for the year-ago period which makes it three unprofitable quarters in a row. The results included US$ll.2 million
      382 words
    • 503 6  -  OH BOON PING By' COMMODITIES trading firm Noble Group yesterday reported a 46 per cent year-on-year plunge in its first-quarter net profit to US$9O.2 million. It also separately unveiled a higher bid for Australia's Gloucester Coal. The plunge in earnings was
      503 words
    • 274 6  -  GENEVIEVE CUA By GREAT Eastern Holdings has announced a strong set of results for the first quarter, thanks to strong growth in its Malaysian business. Profit attributable to shareholders rose sharply to $237 million from $45 million previously, due to a large non-recurring
      ARTHUR LEE  -  274 words
    • 350 6  -  AMIT ROY CHOUDHURY By RAFFLES Education Corporation yesterday reported a $16.5 million loss for its third quarter ended March 31, mainly on account of an allowance for impairment of investment in an associate company. Raffles Education the largest private education provider in the Asia-Pacific
      350 words
    • 508 6  -  JAMIE LEE Interested minibond investors must lodge claim by June 1 By A SINGAPORE-BASED Lehman Brothers entity has holdings of nearly US$3OO million as at March 31 that minibond investors could try claiming if they choose to pursue this action against the
      508 words
    • 574 6  -  RONNIE LIM CHINA Aviation Oil Singapore (CAOS) has managed to carve out opportunities from challenges. The company whose jet fuel supply business to China's airports in Shanghai, Beijing and Guangzhou is encountering slowing demand growth had cautioned that its exports there this
      574 words
    • 225 6  -  MICHELLE YEO By HI-P International, a global integrated electro-mechan-ics manufacturing solution provider, reported an 8.5 per cent fall in net profit to $22.57 million for the first quarter ended March 31, from $24.68 million for the previous corresponding period. Revenue for the
      225 words
    • 365 9  -  UMA SHANKARI Lead Data, which has a 74.21% stake, proposes exit offer of 11.5 cents a share THE majority shareholder of ChungHong Holdings is seeking to delist the company from the Singapore Exchange (SGX). Lead Data Inc, which has a deemed stake of 74.21
      365 words
    • COMPANY BRIEFS
      • 150 9 THE Singapore Exchange (SGX) has set up an Investor Education Fund (lEF) to benefit investors in its securities and derivatives market. The lEF will support initiatives that seek to improve the understanding and ability of investors to make better informed investment decisions. Funding for
        150 words
      • 55 9 THE Singapore Exchange (SGX) yesterday announced that SBI E2-Capital Asia Securities Pte Ltd has resigned as a continuing sponsor of Catalist. This takes effect immediately. It was reported earlier that SBI E2-Capital has decided to shut down its operations here to focus on Hong
        55 words
    • 291 9  -  LIEWAIQING By CENTILLION Environment and Recycling Ltd (CER), a global electronics recycling service provider headquartered in Singapore, has merged the operations of its two United States companies Metech International Inc (Metech) and Guaranteed Recycling Xperts (GRX). The move will enable CER to boast
      291 words
    • 369 9  -  NISHA RAMCHANDANI By ASCOTT International is aiming for a bigger slice of the European leisure travel pie, as corporate business shrinks amid the weak global economy. Business travellers account for 60 per cent of Ascott's European customer base, so the company has been hurt as
      369 words

  • Page 7 Advertisements
    • 161 7 www.audi.com.sg The new Audi Q5. For those who want more out of life. There are no Limits when style and technology are perfectly synchronised. Your passion takes you to the roads for leisure and to the skies for adventure. Designed to inspire and engineered to excite, the Audi Q5 gives
      161 words

  • SINGAPORE MARKETS
    • 644 8  -  YEN SREENIVASAN STOCKS Strong close on Wall Street and positive US data give index a boost; profit taking pares gain THE Singapore market continued to power north in tandem with regional markets yesterday, boosted by a strong close on Wall Street and more positive data
      644 words
    • 99 8 Up Down Unch Up Down Unch Up Down Unch lulti Ind 12 1 3 0 0 0 12 1 3 lanufacturini 99 30 56 13 112 37 65 Commerce 31 16 21 35 17 26 'pt/Stor/Comms 25 11 26 12 :inance 18 18 Construction 11 11 12
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    • 118 8 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 64,293 64,293 124,052 124,052 lanufacturing 700,548 53,448 753,996 392,768 2,333 395,101 lommerce 169,889 71,365 241,254 120,495 12,182 132,677 'pt/Stor/Comms 251,132 403 251,535 360,045 15 360,061 :i nance 72,933 72,933 550,509 550,509 lonstruction 167,773 22,341 190,114 21,334 230 21,563 >ro|
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    • 104 8 lapitaLand 2.970 lapitaMall 1.340 +0.050 jtyDev 7.170 -0.130 lomfortDelGrc 1.340 -0.030 losco Corp 1.120 +0.020 IBS Grp 10.860 +0.360 :&N 3.000 +0.050 ienting SP 0.655 +0.020 iolden Agri 0.470 +0.060 IK Land 2.730 +0.110 IMH 22.780 +0.780 ISH 12.200 +0.360 lardineC&C 14.580 +0.080 Ceppel Corp 6.400
      104 words
    • 56 8 May 5 VALUE CLOSE IT OB/OS 267.00+251.C IT CADI -*****.00 +208. IT 10-day MA -*****.00 +27.0i TSE ST Mid Cap 417.76+12.3: TSE ST Small Cap 338.88+11.3. TSE ST All Share 494.95+11.61 TSE ST China Top 193.54 +6.5 TSE ST China 189.14 +6.2 IOB Catalist 80.99 +2.0' IMSCI
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    • 58 8 VOLUME Golden Agri 339,671,000 Global Voice 153,310,000 Chart SemiCond 139,980,000 China Honqxinq 96,610,000 AusGroup 94,537,000 UniFiber 75,453,000 IndoAqri 72,687,000 KencanaAqri 71,448,000 Ocean us 69,719,000 Gentinq SP 68,594,000 VALUE(S) DBS Grp 218,779,915 Golden Agri 151,450,725 Sing Tel 124,146,360 UOB 119,980,976 Capita Land 113,495,000 SGX 108,833,020 Wilmar 106,963,770 OCBC
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    • 108 8 BY CENTS iBXT FTVietnam 10US$ 3678 512.5 10. MS India 10US$ 958 131.1 10., LD 10US$ 8891 126.7 1.' IMH 2278 114.9 3. ICBCC 5.1%NCPS 100 9000 80.0 0. ;txpo ioo 1440 60.0 4. Thailand 10US$ 321 54.5 13.' ISH 1220 53.0 3.' I A 1170 50.0 4. lain
      108 words
    • 123 8 CLOSE DOWN DBXT S&P Short 10US$ 7025-272.5 -2.6 DBXT MSTaiwan 10US$ 1300 -88.4 -4.4 DBS BNP ePW*****7 17.5 -17.5 -50.0 Asia 10US$ 301 -16.2 -3.5 At 717 -13.0 -1.8 China H 10US$ 1239 -11.8 -0.6 ICBC Bk4.5%NCPS 100 8510 -10.0 -0.1 UOB 5.05%NCPS 100 9430 -10.0 -0.1 ;TI 1500
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    • 85 8 Wh lere S! stands May 5 CHNG CLOSE FRMayi YR2009 S$ LOW S$ HIGH uss 1.4700 0.68 1.5579 1.4308 Euro 1.9676 -0.18 2.0732 1.9150 Pounds 2.2179 -0.64 2.2712 2.0356 1.0953 -0.94 1.1100 0.9453 ren* 1.4826 0.89 1.7278 1.4831 Rupiah* 0.***** -1.59 0.***** 0.***** Baht* 4.1868 0.11 4.3390 4.1040 Peso*
      85 words
    • Article, Illustration
      473 8  -  JAMIE LEE Cosco Corporation May 5 close: $1.12 KIM ENG RESEARCH, May 5 SECURES FPSO conversion for Modec: Cosco has announced that it has secured a contract to convert an 18-year-old Very Large Crude Carrier (VLCC) tanker to a Floating Production Storage and Offloading (FPSO) vessel. The customer
      Source: Bloomberg  -  473 words
    • 456 8 Reuters CURRENCIES [LONDON] The euro slipped yesterday, pulling back from a one-month high against the US dollar in early trade as profit taking set in, while markets awaited the results of US bank stress tests later this week. Losses were limited in the euro and
      – Reuters  -  456 words
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  • Page 9 Advertisements
    • 1700 9 your global supply chain partner .^i^fl^t. L f\ irafTi noDic First Quarter Results 2009 'J|g)J g TO Up Three months ended 31 March 2009 (Incorporated in Bermuda with limited liability) Dear Shareholders The Board of Directors of Noble Group Limited is pleased to announce the unaudited (unaudited) (unaudited) consolidated financial
      1,700 words

  • Page 10 Advertisements
    • 3427 10 This Joint Announcement does not constitute an offer or a solicitation to any person in any jurisdiction in which such offer or solicitation is unlawful. The Scheme (as defined herein) is not being proposed in any jurisdiction in which the introduction or implementation of the Scheme would not be in
      3,427 words

  • Page 11 Advertisements
    • 3403 11 (ii) after making the recommendation set out in paragraph 8.4.9(i) above not at any time withdraw, modify or Any inquiries relating to this Joint Announcement or the Scheme should be directed to one of the following: adversely qualify or amend the recommendation, (in each case) except to the extent that
      3,403 words

  • SINGAPORE NEWS
    • 469 12  -  LEE U-WEN Economic downturn takes toll on engineering, sales and marketing jobs By SALARIES for those working in sectors such as engineering and sales and marketing have fallen by up to 20 per cent as the global economic downturn continues to take its toll
      469 words
    • 474 12  -  OH BOON PING PMI creeps up as overall production output imports rise By AMID an uncertain business climate, last month's purchasing managers' index (PMI) improved slightly over the March's figures, while the key electronics segment returned to expansionary track. PMI a barometer of manufacturing
      474 words
    • 234 12 A*STAR's Singapore Immunology Network (SIgN) chairman Philippe Kourilsky has received France's highest accolade he has been made a Commander of the Legion of Honour. The award is in recognition of Professor Kourilsky's work in science at national and international levels, and his service to France.
      234 words
    • 259 12 A DEBT Repayment Scheme (DRS) to help people avoid bankruptcy will start operating on May 18, after Parliament approved amendments to the Bankruptcy Act in January to introduce the scheme. Under DRS, a person with liabilities of less than $100,000 who is
      259 words
    • 449 12  -  LEE U-WEN They will offer 5 business degree courses from Swinburne from Aug By A TOP Australian university has joined hands with a leading local private education provider to bring a range of business degree programmes to students here. Swinburne University of Technology, which has
      449 words
    • 116 12 THE Singapore Land Authority (SLA) has launched for auction one land parcel for heavy vehicle park use at 20 Eunos Road 4 under tenancy. It has a site area of 20,288 square metres and a tenure of 3+2 years. The specified minimum
      116 words
    • 339 12 Downturn may have some impact on the conference and exhibition: BCA THE Building Construction Authority (BCA) expects 800 to 1,000 local and foreign participants to turn up for its inaugural International Green Building Conference in October. The conference, which will focus on
      339 words
    • 348 12  -  TEH SHI NING This is despite lower interest rates as they are more risk averse By' SINGAPOREANS are more likely to focus on savings to get a guaranteed return on their money, despite current low interest rates, an Aviva survey has found.
      348 words

  • BT-NBS ROUNDTABLE
    • 3129 13 OVERVIEW THE handsome annual compensation packages and generous bonus payouts to company chief executive officers (CEOs) be it in the United States or Singapore have been constantly in the news over the past few months. Do the chiefs of big companies deserve such large sums
      3,129 words
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  • ECONOMY WATCH
    • 561 14 Reuters Central bank statement sounds optimistic, points to stabilisation abroad [SYDNEY] Australia's central bank yesterday held its key cash rate at a record low of 3 per cent, saying the full effect of past stimulus had yet to be felt and pointing to signs
      Reuters  -  561 words
    • 467 14 -Reuters They ask Fed to be aware of inflation risk after recovery [NEW YORK] The US recession will likely end this year and policy-makers must be ready to act quickly to ensure inflation does not take hold when the economy recovers,
      -Reuters  -  467 words
    • 207 14 Reuters [TOKYO] About 70 per cent of leading Japanese corporations expect economic recovery to take hold only in the second half of the next financial year starting in April 2010, a survey showed yesterday. Japanese corporate leaders remained bearish about the economy, fearing the
      – Reuters  -  207 words
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  • MALAYSIA/INDONESIA
    • 492 15  -  S JAYASANKARAN Sector now trades at 9 times forward earnings against 6 just two months ago in MJdld LUllipui RISING oil prices, an improved global sentiment and slowly increasing orders have cumulatively caused Malaysian oil and gas stocks to rise across
      492 words
    • 491 15 Reuters [KUALA LUMPUR] Malaysia's biggest company Sime Darby has struck a deal with the Liberian government to develop oil palm and rubber estates in the West African nation as land runs out at home and global demand for palm oil surges.
      – Reuters; REUTERS  -  491 words
    • 201 15 AFP [JAKARTA] Indonesia's central bank cut its benchmark interest rate by 0.25 percentage points to 7.25 per cent yesterday, to mitigate the impact of the global downturn on South-east Asia's largest economy. "Inflation for this year is expected to be close to the
      AFP  -  201 words
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  • GREATER CHINA/INDIA
    • 421 16 -AT 3 Figure sharply lower than trillion-plus yuan level in earlier months this year [SHANGHAI] China's new bank lending in April was likely above 600 billion yuan (*****.8 billion), sharply lower than the record trillion-plus yuan loans in earlier months this
      -AT3  -  421 words
    • 336 16 Reuters Move would require a response, says military brass [WASHINGTON] China's build-up of sea and air military power funded by a strong economy appears aimed at the United States, the chairman of the US Joint Chiefs of Staff said. Admiral Michael Mullen said China
      – Reuters  -  336 words
    • 317 16 -AP [MUMBAI, India] More than 203,000 people have bought the ultra-cheap Nano car in India yielding sales of 25 billion rupees (***** million), Tata Motors said. "Tata Motors places on record its gratitude to the people of India for according such
      -AP; AFP  -  317 words
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      173 words

  • ASIA-PACIFIC/WORLD
    • 458 17 -Reuters Bank also reports strong consumer banking and resilient loan book [LONDON] Standard Chartered yesterday reaped the benefits of a focus on Asia and a resilient loan book as it weathered the financial crisis to report record first-quarter profits, sending its shares to
      -Reuters  -  458 words
    • 655 17 -AFP [BERLIN] A drive by Italy's Fiat to create a global car giant from the Opel end of General Motors with Chrysler hit the skids yesterday as fierce resistance emerged on both sides of the Atlantic. Unions across Europe expressed fears that Fiat
      -AFP; AFP  -  655 words
    • 289 17 -AFP FLU OUTBREAK [SEOUL] Asia's first per-son-to-person swine flu infection was confirmed yesterday by officials in South Korea, who said that a nun had caught the disease from her colleague. Tests revealed the 44-year-old woman, who had not travelled to Mexico, was infected with influenza
      -AFP  -  289 words
    • 636 17  -  ANTHONY ROWLEY Only an integrated region can promote growth, it says By in Bali ASIA needs to spend a colossal US$B trillion on transport, power and communications infrastructure over the next ten years if it is to emerge as a viably connected, competitive
      636 words
    • 352 17 -NYT [NEW YORK] You have only one sneeze. Use it wisely. Yes, it's Stop Swine Flu, the video game. The action starts with a "schplouuush" of green mucus hitting your screen, then switches to a street somewhere. Your avatar stands among pedestrians. The background noises
      -NYT  -  352 words
  • Page 17 Advertisements
    • 722 17 W*Z^ Toll free: 1800-289-8822 V ill Email: n°tices@sph.com.sg JL Vfc_^ JL JL^^^ 1j l 5 www.cats.com.sg LOST SHARE CERTIFICATES I NOTICE IS HEREBY GIVEN that the undermentioned share certificates have *—T~^ been reported lost, mislaid or destroyed by the shareholders:- 4flM4fl^ Name of Company Certificate Nos. No. of Shares In
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  • WORLD
    • 706 18 Bloomberg Business leaders bristle, even fellow Democrats look unenthusiastic [WASHINGTON] President Barack Obama's plan to end tax breaks for USbased multinational companies drew a sceptical response from fellow Democrats on Capitol Hill, indicating that his plan may face obstacles on its path
      – Bloomberg  -  706 words
    • 478 18 Reuters [NEW YORK] Citigroup may put more employees on commission or offer them larger base salaries as it tries to retain key staff members without running afoul of laws limiting executive pay at banks that receive government funds. Three people familiar with
      – Reuters  -  478 words
    • 425 18 Bloomberg [WASHINGTON] US President Barack Obama is scheduled to release the full details of his U553.55 trillion fiscal 2010 budget plan tomorrow, White House budget office spokesman Tom Gavin said. In the document that will be sent to Congress, Mr Obama has
      Bloomberg  -  425 words
    • 528 18 AP.AFP [ZURICH] ÜBS AG reported a first-quarter net loss of 1.98 billion Swiss francs (552.57 billion) yesterday, confirming a warning given last month, and said it remains cautious about its outlook as loan losses are expected to mount amid the economic downturn. ÜBS which
      AP.AFP; I REUTERS  -  528 words
    • 599 18 Reuters Its shares rally after CEO says room cancellations are slowing [LOS ANGELES] MGM Mirage posted a quarterly profit only after a huge gain from selling a resort, but its shares rose 5 per cent after the largest Las Vegas Strip casino operator
      – Reuters  -  599 words
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  • TransportHUB
    • 978 19 Reuters The possibility of the economy bottoming does not mean a recovery on the waterfront is at hand [DETROIT] THERE have been recent signs the US economy may be stabilising after a deep dive, offering hope a recovery could be on the horizon. But US
      – Reuters; BLOOMBERG  -  978 words
    • 561 19 Reuters [NATIONAL HARBOR, Maryland] The fight against piracy must involve efforts on land and at sea, the US Navy's top officer said on Monday, saying the issue was more complex than just putting arms on commercial ships. "Pirates don't live at sea. They
      – Reuters  -  561 words
    • 868 19  -  DAVID HUGHES STRAIT TALK By LAST week, this column touched on the perils of seafarers drinking too much on trips ashore or at least the implications for ships' masters. Today, it looks like something else that kills seafarers is much less talked about: Aids. It is
      868 words
    • TRANSPORT STOCKS
      • 106 19 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KiVentures Keppel Corp MTQCorp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship Star Cruises 0.31 0.18 1.12 0.43 1.06 0.39 0.05
        106 words
      • 35 19 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings NeplineBhd PDZ Holdings 0.68 8.60 8.80 3.08 2.70 0.03 0.11 -0.01 unch unch unch 0.02 unch -0.01 18: 95' 62: 112! 3! < 667!
        35 words
      • 12 19 ■oo 'recious Ship Regional Cont .13.70 ...7.10 1.00 1444( 0.20 308;
        12 words
      • 11 19 '000 Doil iingamas Cont .24.85 ...0.72 0.80 401. 0.18 *****
        11 words
      • 20 19 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 5.70 14.50 unch unch 0.10 1.25 unch unch 14! 483!
        20 words
      • 22 19 Evergreen Marine ...17.90 :irst Steamship 41.10 /Van Hai Lines 16.00 t'ang Ming Marine...11.85 0.25 -1.70 0.35 -0.45 30 9 11 29
        22 words
      • 40 19 '000 (awasaki Hvy Ind ..213.00 3.00 ***** (awasaki Kisen 393.00 24.00 9035 Mitsubishi Hvy 323.00 2.00 ***** Mitsui Eng&Sbldg...202.00 2.00 3977 Mitsui Osk Lines 591.00 30.00 ***** Mippon Express 355.00 4.00 2699 MipponYusen 421.00 19.00 ***** iource: Thomson Reuters
        40 words

  • TRANSPORT HUB: AVIATION
    • 582 20 Reuters They struggle to spur demand amid falling revenue and tight credit markets [CHICAGO] US airlines, struggling to spur demand amid economic recession, face a potential liquidity crisis if revenues keep falling while credit markets remain tight. Despite their best efforts, several of the
      – Reuters  -  582 words
    • 613 20 Bloomberg [SEATTLE] Boeing Co said it may get a key second order this year for its 747-8 Intercontinental, the new version of the 40-year-old jumbo jet, as buyers gain confidence in the planemaker amid progress on the marquee Dreamliner. Boeing "might have some surprises soon" from
      – Bloomberg; BLOOMBERG  -  613 words
    • 2578 20 AIRLINE CODES: AA American Airlines (AAL), AF Air France (AFR), Al Air India (AIC), AY Finnair Oy (FIN), AZ Alitalia Airlines (AZA), BA British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), Bl Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR
      2,578 words
    • 237 20 [SINGAPORE] Singapore-based BOC Aviation has inked a purchase and leaseback deal with Air France for two Boeing 777-300ER passenger aircraft and two 777-200LR freighter aircraft. The first tranche of two freighters closed on April 29, and the second tranche of two
      237 words
    • 178 20 [SINGAPORE] Singapore Airlines will hand over its thrice weekly Singapore-Hyderabad service to its regional airline Silkair from June 15. Silkair will bump up services to five times weekly from June, then further increase to daily flights from Oct 26. The flights are subject to government
      178 words
  • Page 20 Miscellaneous
    • 310 20 CRYPTIC CROSSWORD ACROSS 7 Someone with an offer for H| i model (8) 9 Piece of cloth covering end of X power tool (6) 10 Position of a new church at BB__^H__BB__^H__B^__BB__BB__H 11 Drink-a magical one ensnar- H^ HH HH ing volunteers (8) 12 Artistic man -he and I may
      310 words

  • TRANSPORT HUB: LAND
    • 468 21  -  SAMUEL EE Sports car maker changes marketing strategy due to economic situation By PORSCHE sales slowed down by 27 per cent in the first half of its fiscal year, which began in August 2008. But the German sports car maker's turnover only fell
      AP  -  468 words
    • 420 21  -  SAMUEL EE By THE parallel import car trade is hurting badly, the latest registration figures from the Land Transport Authority (LTA) show. Between January and March, parallel importers (Pis) collectively registered 3,326 passenger cars: a mere 15.5 per cent of the total
      420 words
    • 733 21 Bloomberg [LOS ANGELES] Honda Motor Co and Hyundai Motor Co's US sales in April fell at a slower rate than the industry, as Asian carmakers added market share again. Toyota Motor Corp and Nissan Motor Co said conditions may improve
      Bloomberg; REUTERS  -  733 words
    • 461 21  -  NISHA RAMCHANDANI By Alstom said in a statement that at it proposes to increase its dividend 40 per cent to 1.12 euros per share. The company's two main activities are transport equipment and services for transport and power areas with high demand. "We
      461 words
    • 372 21 Reuters [MILAN] Italy's new car registrations fell 7.53 per cent to 188,406 units in April as supplies of some models, including less polluting cars, were insufficient to meet increased demand fuelled by state incentives. The Anfia industry association of domestic producers said the
      – Reuters  -  372 words
  • Page 21 Advertisements
    • 31 21 Lianhe Zaobao I amid I I hopes of I I investments I I from I I mainland I China gJßaiß#it CATS Recruit The first step oh your ladder to success f <
      31 words

  • EDITORIAL & OPINION
    • 471 22 THE outbreak of the swine flu or A(H1N1) flu epidemic has dampened some of the optimism generated by talk of "green shoots" of a global economic recovery appearing. In particular, markets had taken heart at comments by US Federal Reserve chairman Ben Bernanke that the recession
      471 words
    • 827 22  -  VINOD THOMAS ARUP BANERJI The current crisis presents opportunities for governments for more and better spending ByV and THE Chinese characters for "crisis" comprise both "danger" and "opportunity". Politicians in countries worldwide are naturally focused mostly on the dangers of the current economic downturn. But
      AFP  -  827 words
    • 757 22  -  FRANK CHING THE BOTTOM LINE NINETY years ago this week, thousands of students from Peking University and elsewhere gathered in the then much smaller Tiananmen Square before marching through the city. They were demonstrating against a predatory Japan and against the Western powers'
      757 words
    • 1565 23  -  KOH SOO HOW It can become an added and unexpected cost which businesses can ill afford in these difficult times By SINGAPORE'S small and open economy has made it vulnerable to the global financial crisis and caused it to be the first of the Asian
      REUTERS  -  1,565 words
    • 712 23  -  RICHARD BLUMENTHAL LAT-WP By SWEEPING and significant change in the financial world closing down the Wall Street old boys club remains a dim and distant prospect. One sign is the Federal Reserve Board's recent reward of up to US$4OO million in
      LAT-WP; REUTERS  -  712 words


  • SINGAPORE STOCK
    • 8704 24 Transaction date: May 5 High Low Code Company Sale C000) High Low Buyer Seller C'vr •k P/E Smil 8 3 3148 8Telecom 10.5 2.5 5834 A-Sonic 30.5 12 5000 ABRHIdgs 16 5.5 1938 AEICorp 9.5 1 1100 AEM 23 7 2101 APOil 77 26.5 5550 ARA 8.5 2.5
      8,704 words
    • 1681 25 High Low Code Company Sale COOO) High Low Buyer Seller C'vr P/E $mil 20 5 1181 s AAGrp 32 13 8538 t APStrategic 2 0.5 t APStrategic R 4 0.5 1501 s Advanced System 11.5 2 3480 t Adventus 28 8.5 3518 s Afor 17.9 2 1524 t
      1,681 words
    • 306 25 Hii Low Code Comi Sale C000) Hii Low Bm Seller Cvr P/E imil 108 100 6389 ABFSG Bond ETF 108 +0.2 982 427 CIMBAsean40 100US$ US572xd +25 209 149 DBS STI ETF 100 208 +6 2288 1682 DBXT FTChina25 10US$ ....US2198 3678 3228 DBXT FTVietnam 10US$....US3678 +348 1360
      306 words
    • 249 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer
      249 words
    • 9292 25 UNIT TRUSTES FUNDS I UNIT TRUSTS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!S 1.716/ AIGIF Spore Bond Fund/ A 1.22/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 0.85/ APS Alpha Fund (USD)!** 0.57/ APS Komaba Asset Mgt Pte Ltd APS Komaba Global Bond SGD
      9,292 words
  • Page 24 Advertisements
    • 17 24 ROYAL OAK OFFSHORE COLLECTION 'S»J*l£^' "^'"^WillT^^^."''- ff WOjjpl.!!jP^ For enquiries, Tel: (65) 6238 6678 www.audemarspiguet.com j^^^^^^^^kaß S-—
      17 words


  • FINANCE & COMMODITIES
    • 362 26 %dy %yr dy yr dy yr Index Change Change Change Change Change Change Mai World Index Preliminary 681.5 1.8 0.5 1.7 1.9 2.1 -0.6 EAFE Preliminai 652.9 1.4 0.6 1.6 0.2 2.0 -2.2 Euro[ Prelim inan 910.5 1.6 -0.1 1.9 0.7 2.3 -1.7 Pacific 550.3
      362 words
    • 64 26 May 5 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Month Range Price Price Hi Vol Open Done Position Low May 09 2800 JunO9 2710 Jul 09 2667 Aug 09 2600 Total o/p: ***** contracts 2777 2825 2760 2695 2785 2670 2625 2731 2603 2570 2674 2547 Turnover:
      64 words
    • 25 26 May 5 ten Hii Sett STI SIMSCI Ma' 248.0 252.1 251.5 Taiwan Ma' 249.1 250.9 243.1 Source: MF Global (S) He. Ltd
      25 words
    • 22 26 May 5 SS Bid Offer 1-month 1.4726 1.4740 2-months 1.4723 1.4738 3-months 1.4721 1.4736 6-months 1.4714 1.4732 Source: OCBC
      22 words
    • 79 26 May 5 (US$) (SS) 0.***** 0.***** 6 mths 1.***** 9 mths 1.***** 12 mths 1.***** 1 mth 2 mths 0.***** 0.***** 3 mths 1.***** 0.***** 6 mths 9 mths 12 mths 1.***** 1.***** 1.***** 0.***** 0.***** 0.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs 1.***** 4yrs
      79 words
    • 251 26 May 5 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES JunO9 SepO9 DecO9 Mar10 99.0800 99.0150 98.7900 98.6400 5816 2464 2537 2535 EUROYEN TIBOR FUTURES JunO9 SepO9 DecO9 Mar10 Jun10 Sep10 Dec10 Mar11 99.450 99.515 99.525 99.500 99.465 99.385 99.340 99.255 ***** 4355 2167 2127 700 281
      251 words
    • 194 26 May 5 KUBBtK Futures (Closing prices) RSS 3 (US cents/kg) Month High Low Close Sett Volume (lots) O/l (lots) JunO9 169.5 Jul 09 170.0 Aug 09 169.5 Sep 09 169.1 Oct09 169.5 NOV09 169.5 168.0 169.0 169.5 169.1 169.0 169.0 169.5 169.9 169.5 169.1 169.0 169.0 34 88
      194 words
    • 88 26 May 5 TREASURY BILLS Period Issue code Maturity Yesterday's Bid Hi, Day's |h Low 3-Month BQ*****A 06.08.09 1-Year BY*****W 03.05.10 0.20 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Hio Day's cjh Low 2-Year N*****0E 3.125 5-Year NX*****F 3.625 7-Year N*****0S 2.875 10-Year NY*****A 4.000
      88 words
    • 132 26 FOREIGN A= CURRENCY 9am NOTE RATES Mays Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.0830 1.1160 Can dollar 1.2480 1.2630 Euro 1.9630 1.9860 NZ dollar 0.8430 0.8620 Sterlini 2.2000 2.2261 US dollar 1.4640 1.4810 Local dollars to 100 units of
      132 words
    • 174 26 May 5 %S_ Offer Bid Overnight 1/16 1-month 7/16 2-months 9/16 3-months 11/16 Overnight mode: 0.03 US$ Offer 1/32 3/16 5/16 7/16 BJd 7 days 1 month 2 months 3 months 6 months 9 months >—■. I. $Au 0.35 0.55 0.90 1.10 1.70 2.10 2.30 Offer 0.25 0.45
      174 words
    • 455 26 May 5 Australia 0.871 5.050 0.555 5.738 36.687 77.150 0.733 9.392 2.601 1.283 59.528 35.413 1.091 6.175 0.840 24.517 26.021 0.492 0.740 Canada 1.149 5.800 0.637 6.590 42.136 88.609 0.842 10.787 2.988 1.474 68.370 40.673 1.253 7.092 0.965 28.159 29.886 0.566 0.850 China 0.198 0.172 0.110 1.136
      455 words
    • 139 26 May 5 M ay i ay i Hong Kong 892.60 902.00 893.60 903.00 London May 01 Apr 30 883.80 883.40 885.00 884.60 Source: Thomson Reuters CAST BAR S$) May OS Buying Sellinc Kilobar "46,163.01" ***** PAMP GOLD BARS 6$) Selling Buying 1gm 5gm 10gm 20gm 50gm 100gm 1
      139 words
    • 169 26 May 5 Against SS Currencies Bid Offer Against US$ Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0903 1.0916 0.7403 0.7405 Canadian dollar 1.2523 1.2537 0.8503 0.8505 Euro 1.9655 1.9678 1.3345 1.3349 NZ dollar 0.8492 0.8509 0.5766 0.5772 Sterling 2.2141 2.2166 1.5033 1.5037 US
      169 words
    • 70 26 May 1 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1504.00 1459.50 3 months 1539.00 1494.00 Copper, Grade A (US$/tonne) Cash 3 months 4604.50 4600.00 4433.25 4431.00 Lead (US$/tonne) Cash 1389.50 3 months 1400.00 1324.00 1330.00 Nickel (US$/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (US$/tonne) Cash 3
      70 words
    • 105 26 May 4 SOYBEANS (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low May 09 1115.25 1102.00 1128.75 1096.25 Jul 09 1103.50 1091.00 1127.00 1085.00 Aug 09 1068.00 1059.00 1091.50 1053.00 Sep 09 1014.25 1011.00 1034.25 1002.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low May 09 37.94 37.43 38.80
      105 words
    • 72 26 Mayi (£/tonne) Close Prev Hii ih/Low May 09 1730 1774 1774/1732 Jul 09 1672 1707 1710/1669 SepO9 1669 1701 1704/1668 Dec 09 1662 1696 1697/1659 COFFEE (US$/tonne) Close Pev High/Low May 09 1475 1424 1472/1430 Jul 09 1495 1453 1497/1459 SepO9 1507 1466 1509/1474 SUGAR (US tonne) White Close
      72 words
    • 77 26 CRUDE OIL PRODUCTS May 4 CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 53.69 1.40 WTI (Near Mth) 54.40 1.69 Dubai (1-Mth F) 52.18 2.95 Tapis blend 56.25 2.90 Minas 54.35 2.90 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 48.55 59.60 3.38 1.70 US$/barrel Opec Oil
      77 words
    • 2392 26 BONDS, WARRANTS EXTENDED SETTLEMENT Fel lode Company Last Sale Prem Expiry Vol Conv Exer Disc Gear- Mths +or- ('000) Ratio Price ing Left 1036 Advance SCT Ltd W*****9 0.5 susp 3092 Asia Environment W*****4 0.5 1481 #Asia Water Tech W*****0 18.5 3816 Asiasons Capital W*****7 4 5756 Asiatic Grp (H)
      2,392 words
  • Page 26 Advertisements
    • 186 26 BENEFIT* f\ C"\ **********0/ TD AI^C RIDCr*TI V If a picture is worth a thousand words, what is a chart worth? mf\f\mJC l^llmCVa I L¥ Watch your trades unfold in front of your eyes. Drag and drop CDARJI TUC /"UADTC your profit target, see your working orders and take profit
      186 words

  • Page 27 Advertisements
    • 3095 27 m The Business Times Shipping Times WAN HAI INTERNATIONAL PTE LTD UEN: *****4695 M r^v £^V^| W K%»E JHMCOE'BfrjwfjLf VTr/V 1Af nil ■>■.« TEL *****588 (14LINES) FAX:*****163 1 1■ 1 I fiTE^TIH BffmSßffrWffßilfflllPß VVI I WAN HAI INtj PKL TEL: {03) *****58» FAX: <03) *****288 PEN TEL: (04) *****00 FAX:
      3,095 words

  • Page 28 Advertisements
    • 2367 28 PCL/PHL SERVICE AMX SERVICE Connecting ECL Svc via MALTA I VESSEL VOY SIN PKG JEA BND SIN NSA KHI JED DAM MAR VLC GOA MAR MAR FXT HAM ANR LEH SABALAN PCLO627S 06/05 07/05 14/05 15/05 TUCHAL PCLO62BS 09/05 10/05 17/05 18/05 SILVERZONE AMXII44W SKIP SKIP 23/05 28/05 31/05 03/06
      2,367 words
    • 855 28 I WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPTING CONTAINERS TO ALL NORTHERN AMD WESTERN INDIAN ICD POINTS VESSEL I VOY SIN I PKL (IN PORT) I [MB (JIT 2) I NSA (NSICT) SCI KIRAN 021W 05 MAY 06MAY II MAY I4MAY SCI CHiNNAI 002W 09 MAY 10 MAY 15 MAY
      855 words

  • EXECUTIVE MONEY
    • 1065 29  -  CHRISTIAN NOLTING It's time to rethink commodities since they have reached a bottom late in 2008 WHILE the 1980s and 1990s were a time of above-average returns in equity and bond markets, the 2000s until 2008 were clearly the decade for the forgotten asset class
      Source: USGS, ÜBS estimates  -  1,065 words
  • Page 29 Advertisements
    • 463 29 EMCON Repair Not Replace U.S. Manufacturer Seeks Exclusive Distributor for SINGAPORE We are an industry leader in the environmental protection factory life extension industry, with some of the most advanced products in the world. We are looking for a highly talented and skilled business professional/ organization to become our exclusive
      463 words

  • executive Money
    • 957 30 Still, the industry's biggest threat is seen to be from ETFs whose assets have ballooned, reports GENEVIEVE CUA DEEP losses from fund investments since the shock of Lehman Brothers' failure last year have cast a pall on the outlook for the retail
      957 words
    • 349 30  -  GENEVIEVE CUA By THE bear market is putting pressure on many investment management firms' profitability. But HSBC Global Asset Management's regional operations remain profitable, says Rudolf Apenbrink, the firm's chief executive (Asia-Pacific). What's more, the firm has seen net inflows of about
      349 words
    • 972 30  -  ROBERT SHILLER -NYT By [NEW YORK] What is the chance that the current downturn will morph into another Great Depression? That question has been preoccupying people for months. The popular mood has a huge impact on the economy, so it's worth noting what many people
      -NYT  -  972 words
  • Page 30 Advertisements
    • 49 30 IG Markets (ACRA No. *****621 X) holds a capital markets services licence for dealing in securities, trading in futures contracts and leveraged foreign exchange. IG Markets is also licensed to trade commodity CFDs by The international Enterprise Singapore. IG Markets does not operate a securities, futures or commodities market.
      49 words
  • Page 30 Miscellaneous