The Business Times, 22 May 2009

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Total Pages: 32
1 32 The Business Times
  • 20 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg Spi A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 197/08/2008 Friday, May 22,2009
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  • 852 1  -  ANNATEO But, with both green shoots and brown weeds in sight, official forecast stays By [SINGAPORE] The Singapore economy has probably hit bottom, the Ministry of Trade and Industry (MTI) reckons. But with the external outlook still highly uncertain, it is keeping for now
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  • 542 1  -  NISHA RAMCHANDANI Shadow over next year's race as May 29 deadline for 2010 entries looms By [SINGAPORE] First, corporate sponsors decided to bow out of the race and now, it seems that so might some of the teams, which begs the (multi-million dollar) question: what
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  • 987 1  -  LYNETTE KHOO Fewer margin calls now but the trick is to separate winners from black sheep By [SINGAPORE] S-chips or Chinese listings have seen their market values increase, but analysts are holding back their re-rat-ings of these stocks as they have largely been
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  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • 52 1 EMERGING ENTERPRISE I Jj^^L p) AMERICAN IDOL I SPORE Jfe Calvin Lim, director Victor Khaw, general i jf |j^ Not just a pop culture ARTS FESTIVAL :J ofScreentech manager of Allalloy IMhH m m Pnenomenon The final fantasy PAGE 9 PAGE 10 M I JM 1 W PAGE 17 PAGE
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    • 29 1 ROUNDTABLE DISCUSSION To look at how well-governed S-chips can be differentiated from the bad apples, BTandtheNUS Corporate Governance and Financial Reporting Centre are organising a rountable discussion this morning.
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  • TOP STORIES
    • 511 2  -  S JAYASANKARAN PKA to indemnify PwC as Cabinet decides to study report before release By in Kuala Lumpur IT still isn't clear if a report of an investigative audit on the scandal-ridden Port Klang Free Zone (PKFZ) will be made public despite
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    • 497 2  -  EMILYN YAP Schools can only pick agencies from an approved list By [SINGAPORE] All external agencies that want to provide sexuality education in schools will have to be vetted by the Ministry of Education (MOE). And until the Association of Women for Action
      497 words
    • 473 2  -  JOYCE HOOI By [SINGAPORE] It is turning out to be easier for local women to scale Mount Everest than the corporate ladder, even as they put in more hours, according to a survey of over 700 female finance and accounting professionals by Robert
      STOMP  -  473 words
    • 394 2  -  SIOW LI SEN By [SINGAPORE] Temasek Holdings has defended its decision to cut losses on its Bank of America (BOA) exposure. The investment agency also said that it compensates employees using a framework which emphasises the long term over the short term
      394 words
    • THREE-MINUTE DIGEST
      • 54 2 THE Singapore economy has probably hit bottom, the Ministry of Trade and Industry reckons. But with the external outlook still uncertain, it is keeping for now its forecast of 6 to 9 per cent contraction in 2009, though a second stimulus package now
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      • 55 2 S-CHIPS or Chinese listings have seen their market values increase, but analysts are holding back their re-ratings of these stocks as they have largely been driven by the broader market momentum. Year-to-date, the combined market caps of 149 S-chips grew 19.8 per cent
        55 words
      • 60 2 IT still isn't clear if a report of an investigative audit on the scandal-ridden Port Klang Free Zone will be made public despite a promise to do so by Transport Minister Ong Tee Keat and the auditors (PwC) being indemnified by PKFZ's
        60 words
      • 68 2 A FORWARD-LOOKING measure of the US economy in April posted its first rise since June 2008, the New York-based Conference Board said yesterday, suggesting a pick-up in growth in the second half of 2009. The index of leading indicators rose one
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      • 68 2 THE Monetary Authority of Singapore which is plaintiff for the first time in a civil suit, told the High Court yesterday that a former WBL Corporation general manager, whom it is suing for alleged insider trading, knew or ought reasonably to have known
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      • 54 2 THE Singapore Exchange will launch 44 new extended settlement (ES) contracts this Monday, on the back of strong demand for its first ES contracts launched in February. The 44 new contracts include securities like Allgreen Properties, Chartered Semiconductor and Tat Hong.
        54 words
      • 65 2 ONE silver lining of the current recession is that it has allowed the government to bring in "capable and committed" people to raise the quality of public services. Deputy Prime Minister Teo Chee Hean said the government is on the lookout for "bold
        65 words
      • 42 2 MANAGED money is making a comeback in commodities amid tentative signs the recession is easing, with open interest rising in markets from gold to oil to grains to indicate increased investment interest. ECONOMY WATCH, PAGE 12
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    • 345 3  - Domestic wholesale trade falls 11 in Q1 NISHA RAMCHANDANI After removing price effects, it fell 2.4%, says Statistics Dept By [SINGAPORE] Singapore's domestic wholesale trade fell 11 per cent in seasonally adjusted terms in the first quarter of this year from Q4 last year, the Statistics Department said yesterday. After
      THE STRAITS TIMES  -  345 words
    • 353 3  -  TEH SHI NING Reports by [SINGAPORE] Singapore's financial services performed better than expected in the first quarter, posting annualised growth of 7.7 per cent from the quarter before, thus providing a boost to an otherwise weak services sector. This was thanks to some recovery in
      353 words
    • 182 3 [SINGAPORE] The recent strengthening of the Singapore dollar is consistent with the central bank's policy stance, the Monetary Authority of Singapore said yesterday. In particular, the local currency's rise against the US currency should be seen "in the context of broadbased
      182 words
    • MARKETS DIGEST
    • 333 3 Reuters, AP LATEST US DATA Indicators point to growth picking up in 2nd half of 2009 [WASHINGTON] A for-ward-looking measure of the US economy in April posted its first rise since June 2008, a private research firm said yesterday, suggesting a pick-up
      ■ Reuters, AP  -  333 words
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 765 4  -  LYNETTE KHOO GM of enterprise risk management is in turn suing WBL for not letting him exercise his options By THE Monetary Authority of Singapore (MAS), which is plaintiff for the first time in a civil suit, told the High Court yesterday that
      765 words
    • 260 4  -  MICHELLE YEO By PLASTICS components maker TTL Holdings announced yesterday that the High Court of Singapore has given it leave to amend the writ of summons and statement of claim filed against its former chief executive officer and director Ho Kang Peng. The amendments
      260 words
    • 303 4  -  JOYCE HOOI These will include securities like Allgreen, Chartered and Tat Hong By THE Singapore Exchange will launch 44 new extended settlement (ES) contracts this Monday, on the back of strong demand for its first ES contracts launched in February. The 44 new
      303 words
    • 703 4  -  SIOW LI SEN HOCK LOCK SIEW By THE three Singapore banks' China ambitions which have been an uphill climb have just gotten more challenging following the latest mainland liberalisation measures for Hong Kong. This month, Hong Kong announced further economic liberalisation measures with
      703 words
    • 575 5  -  JOANNE TANG By YELLOW Pages Singapore (VPS) is boosting shareholders' return by acquiring, launching and growing businesses that complement its core directory business. The directory publisher yesterday announced a 51.7 per cent rise in net profit to $15.2 million for the year
      FILE PHOTO  -  575 words
    • 338 5  -  RONNIE LIM It captures 5% of bunker market for global ships, plans to extend operations By MARINE fuel supplier Chemoil Energy's Indian joint venture has managed to capture as much as 5 per cent of the bunker market for international
      338 words
    • COMPANY BRIEFS
      • 99 5 FEDERAL International (2000) Ltd has announced the termination of a project in Bintan, Indonesia. It had earlier said that a consortium comprising wholly owned subsidiary Federal Hardware Engineering Co Ltd (FHEC) and PT SSE-Van Der Horst Indonesia was awarded a project by PT Tenaga Listrik
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      • 82 5 CHINA Eratat Sports Fashion saw net profit rise 79.5 per cent to 125.9 million yuan (5526.9 million) for its full year ended March 31, 2009, from a year ago. The group reported strong consumer demand and higher sales volume, with its revenue jumping by
        82 words
      • 53 5 FIBRECHEM Technologies said the Singapore Exchange has granted it a further three-month extension to Aug 31 to announce its FYOB financial results; a further three-month extension to Oct 31 to hold the FYOB AGM; and a six-month extension to Nov 15 to announce its
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    • 357 5  -  OH BOON PING i By EZRA Holdings, which provides support and marine services, has raised gross proceeds of about $92.4 million by placing out 78 million new shares at $1,185 each. In a statement, the group said the new shares represent some 13.4 per
      357 words
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    • 1138 4 W*g4 A?^VT'T^T-' n Toll free: 1800-289-8822 w I^l II If r~( Email:notices@sph.com.sg JL V^-/ JL JL^^ I• k3 www.cats.com.sg ffiia State Street Head office State Street Financial Center, One Lincoln Street, Boston, Massachusetts *****-2900, United States Singapore office 168 Robinson Road, #33-01 Capital Tower, Singapore *****2. Tel: +65 6826 7100
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  • Page 5 Advertisements
    • 202 5 CONCOURSE SKYLINE Singapore Flyer: 30 minutes*. Concourse Skyline: 365 days a year. J§ h ~im -^pyMi MCTn° Own the best view in town. Few city addresses put you in the thick of OITYM^^^^B mum m~__ gf pi sSl^^KrM|§^^fe^ HI Singapore's world class action zone like Concourse Skyline. And now, here's
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  • SINGAPORE MARKETS
    • 583 6  -  R SIVANITHY STOCKS Federal Reserve estimates released on Wednesday suggest a deeper US recession than previously thought THE strength of the supposed economic recovery came under scrutiny yesterday following Wall Street's Wednesday slide after the release of Federal Reserve estimates that suggested a
      Bloomberg  -  583 words
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    • 106 6 lapitaLand 3.390 -0.120 lapitaMall 1.300 -0.030 jtyDev 8.030 -0.170 lomfortDelGrc 1.300 -0.030 losco Corp 1.150 -0.040 IBS Grp 11.600 -0.520 :&N 3.980 +0.010 ienting SP 0.730 -0.020 iolden Agri 0.435 -0.040 IK Land 2.900 +0.050 IMH 23.500 +0.760 ISH 13.420 +0.340 lardineC&C 15.020 -0.880 Ceppel Corp
      106 words
    • Article, Illustration
      811 6  -  JOYCE HOOI Offshore and Marine Sector DMG PARTNERS SECURITIES, May 21 WE are upgrading our offshore and marine sector from Neutral to Overweight. Macro environment appears to turn for the better. With general strengthening in commodity and the rally in global equities markets, oil prices have climbed 70
      :: Bloomberg  -  811 words
    • 572 6 Reuters CURRENCIES [NEW YORK] The US dollar yesterday rose from its lowest level so far this year on diminished investor risk appetite after Standard Poor's said that it could downgrade Britain's triple-A credit rating due to high debt. Sterling dropped from a 6.5-month
      Reuters; I : I BLOOMBERG  -  572 words
    • 4 6 DAILY
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    • 4 6 hdg
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    • 54 6 VOLUME Golden Aqri 221,153,000 Ocean us 148,704,000 China Honqxinq 124,718,000 Abterra 102,376,000 Ezra 65,292,000 Cosco Corp 64,394,000 Ezion 63,433,000 Fuxinq 55,274,000 Achieva 47,812,000 RafflesEdu 45,549,000 VALUE(S) DBS Grp 107,522,628 Golden Aqri 102,010,555 SingTel 90,687,400 CapitaLand 84,132,935 Ezra 80,191,090 Cosco Corp 77,667,250 UOB 75,988,792 Wilmar 72,182,504 Noble Grp
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    • 2 6 piujh,
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    • 85 6 May 21 CHNG CLOSE FRMay20 YR2009 S$ LOW S$ HIGH USS 1.4575 0.26 1.5579 1.4308 Euro 2.0093 -0.76 2.0732 1.9150 Pounds 2.2824 -0.69 2.2824# 2.0356 AS 1.1243 0.41 1.1321 0.9453 Yen* 1.5347 -0.73 1.7278 1.4831 Rupiah* 0.***** 0.36 0.***** 0.***** Baht* 4.2357 0.17 4.3390 4.1040 Peso*
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  • FOCUS: S-CHIPS
    • 1349 7  -  LYNETTE KHOO 95 China-based firms' combined net profits slump 52%; analysts wary of more weakness By SO, the analysts got it right this time, at least with the earnings of S-chips. In line with projections of a double-digit slump, the combined net
      FILE PHOTO  -  1,349 words
    • 792 7  -  LYNETTE KHOO By S-CHIPS have been the epicentre of recent corporate scandals but they are not inferior to other small caps when it comes to corporate governance, a study shows. They had similar scores on governance and transparency to non-Chinese listings with a
      FILE PHOTO  -  792 words

  • SINGAPORE NEWS
    • 493 8  -  SAMUEL EE By: THE Ministry of Transport (MOT) will help Singapore become a vibrant global city by strengthening its position as a transport and logistics hub. In the ministry's addendum to the president's address to Parliament, Transport Minister Raymond Lim said the island's transport
      493 words
    • 404 8  -  LEE U-WEN ADDENDUM TO PRESIDENT'S ADDRESS DPM Teo also says public sector will lead in re-employing retired workers By ONE silver lining of the current recession Singapore's worst since independence is that it has allowed the government to bring in "capable and committed"
      404 words
    • 400 8  -  LEE U-WEN By THE government will continue to spearhead the development of career and business opportunities in the creative and infocomm technology sectors. In his addendum to the President's address, Acting Minister for Information, Communications and the Arts Lvi Tuck Yew said that
      400 words
    • 297 8  -  JAMIE LEE By FIVE commercial buildings for office, retail and manufacturing use have received grants from a $20 million scheme to install solar panels, the Economic Development Board said yesterday. It did not reveal the amount disbursed from the fund, saying that
      297 words
    • 371 8  -  UMA SHANKARI By THREE property projects in Singapore have picked up honours at the Fiabci Prix d'Excellence Competition this year. Orchard Scotts, by Far East Organization, came out tops in the residential category, while Newton Suites, by UOL Group, took second spot. The St Regis
      371 words
    • 303 8  -  CHEN HUIFEN By THE recently introduced bridging loan programme (BLP) that allows lending of up to $5 million continues to be sought after by businesses, figures from Spring Singapore show. 915 loans were approved last month under BLP, one of several govern-ment-backed loan
      303 words
    • 754 9  -  BRITTANY KHOO Screentech plans to take its LED technology to Japan and US this year By I DESPITE studying statistical economics in university, Calvin Lim has always felt drawn to engineering. It was no wonder, therefore, that he set up Screentech in 2005, one
      YEN MENG JIIN  -  754 words
    • 475 9  -  CHEN HUIFEN Scientist couple will resign from Dundee university in August By AFTER years of holding concurrent positions at A*Star and the University of Dundee in the UK, renowned cancer scientist David Lane and his wife, Birgit, have decided to commit fully to
      475 words
    • 821 10  -  MICHELLE YEO Welding solutions provider grows to significant player within just one year By ADOPTING a business model based on the concept of a total welding solutions provider, Allalloy Dynaweld has emerged as a significant player in the welding industry within a mere
      821 words
    • 418 10  -  ZEINAB YUSUF Commercial disputes increase in Q1 with economic downturn By THE number of writs filed in the High Court in the first quarter rose 48 per cent from Ql last year. But the increase from 277 to 409 writs-was to
      418 words
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  • Page 9 Advertisements
    • 238 9 This is part of a series of features on the finalists s^^k Effi&FCHRCI of the Emerging Enterprise 2009 (EEO9) award. m^r^ jCnfn wwc+£% Jointly presented by Tne Business Times and \_^fr ITCI"PFISG OCBC Bank, the EEO9 recognises young SMEs A, A/ 2009 with annual sales of less than $10 million.
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  • Page 10 Advertisements
    • 1669 10 BSOCIETE C" f\\ C* EZ) A I EZT A French Corporation founded in 1864 >J I C- f\M I— C Head Office: 29, Boulevard Haussmann-***** Paris France BOARD OF DIRECTORS CHAIRMAN: Daniel BOUTON CEO: Frederic OUEDEA DIRECTORS: JeanAZEMA Elisabeth LULIN Patrick RICARD Patrick DELICOURT Michel CICUREL Nathalie RACHOU Luc VANDEVELDE
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    • 64 10 msispart faS e„e S ff e atures th e fi alisK f g^ Emerging the Emerging Enterprise 2009 (EEO9) award. Jointly m^w J FlTftPrnt" l<S^ presented by The Business Times and OCBC Bank, the ~*WAJ "2009^ EEO9 recognises young SMEs with annual sales of less aj^ Ay than $10 million.
      64 words

  • ECONOMY WATCH
    • 721 11 -AP Policymakers opt to take no new steps to shore up American economy [WASHINGTON] The Federal Reserve expects the US economy to improve in coming months, even as policymakers downgraded their outlook for all of 2009 and said that the unemployment rate could
      -AP  -  721 words
    • 497 11 Bloomberg Banks need more money, mortgage crisis still serious [NEW YORK] Former Fed chairman Alan Greenspan signalled that the financial crisis has yet to end even as borrowing costs tumble, warning that US banks must raise "large" amounts of money. "There is still
      Bloomberg  -  497 words
    • 272 11 -Reuters [BEIJING] China's economic recovery may have slowed or even gone slightly into reverse over the past month, two international banks said in separate reports. Credit Suisse economists said that economic activity appeared to have softened in the second half of April and the trend
      -Reuters  -  272 words
    • 575 12 Reuters Liquidity swells as gold, oil, grain and other markets see rise in open interest [CHICAGO] Managed money is making a comeback in commodities amid tentative signs the recession is easing, with open interest rising in markets from gold to oil to grains to
      Reuters; AFP  -  575 words
    • 276 12 Bloomberg [BEIJING] China wants developed countries to adopt more ambitious proposals to reduce global-warming emissions for international climate negotiations to succeed this year. They should agree to trim greenhouse-gas output by at least 40 per cent of 1990 levels by 2020,
      – Bloomberg  -  276 words
    • 225 12 Reuters [HONG KONG] Central bank chief Joseph Yam does not foresee a recovery in the global economy in the short term and warns of possible risks for investors in Hong Kong as recent stock market gains were out of step with economic
      Reuters  -  225 words
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  • MALAYSIA/INDONESIA
    • 606 13  -  PAULINE NG Two-thirds prefer insurance products offering protection and savings: AXA By I in Kuala Lumpur OWING to the global financial crisis Asians have become more conservative in their choice of financial instruments, but Malaysians appear the most averse to higher risk investment
      606 words
    • 409 13 Reuters Higher provisions for impairment costs, int'l ops blamed [KUALA LUMPUR] Malaysia's largest lender, Malayan Banking Bhd (Maybank) said yesterday its thirdquarter net profit fell more than a third, and warned that business conditions will remain challenging for the rest of the year. "We
      ■ Reuters; REUTERS  -  409 words
    • 394 13 -Reuters [JAKARTA] A senior Indonesian official said that the country's plan to limit tin production this year to reduce environmental damage is still in place, clarifying a previous suggestion that slowing demand may render formal caps unnecessary. Bambang Gatot Ariyono, the director
      -Reuters  -  394 words
  • Page 13 Advertisements
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  • GREATER CHINA
    • 1113 14 -NYT New data shows it's trading long-term Treasuries for short-term notes [HONG KONG] Leaders in both Washington and Beijing have been fretting openly about the mutual dependence some would say co-dependence created by China's vast holdings of US bonds. But beyond the talk,
      -NYT; AP  -  1,113 words
  • Page 14 Advertisements
    • 347 14 The Business Times Singapore Airlines A380 to Paris Contest I From 1 June 2009, the Singapore Airlines new A380 will fly direct from Singapore to Paris. With the new Singapore J *mF *^i^^ I Airlines Suites, Business Class, Economy Class and KrisWorld, the experience will be like none other. Paris,
      347 words

  • INDIA
    • 469 15 ■Bloomberg Selling into rally a mistake as earnings downgrade fade: BNP [MUMBAI] Indian stocks may extend gains by 18 per cent as fund managers bolster "underweight" holdings, prompted by the rally after the Congress party won an election, BNP Paribas said. Maruti Suzuki
      ■Bloomberg \  -  469 words
    • 485 15 Bloomberg [NEW DELHI] Indian Prime Minister Manmohan Singh's preparations for government formation were temporarily delayed as he cancelled a meeting with President Pratibha Patil to discuss preparations for today's swearing-in ceremony. The prime minister was scheduled to meet Mrs Patil
      ■ Bloomberg  -  485 words
    • 184 15 Reuters [MUMBAI] Tata Motors Ltd, India's leading vehicles maker, has raised 42 billion rupees (551.29 billion) through an issue of non-convertible rupee debentures, the company said. The funds will be used to partly repay a US$3 billion bridge loan Tata Motors had raised
      Reuters  -  184 words
  • Page 15 Advertisements
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    • 1600 15 V*^L *T< Toll free: 1800-289-8822 w i\i fl if l™l Email: n°tices@sp|icom-s9 JL V--/ JL JL^»> I > www.cats.com.sg [@j Philippine National Bank and Subsidiaries 1 As of December 31, 2008 with Comparative Figures for 2007 (In Thousand Pesos) 2008 2007 2008 2007 ASSETS INTEREST INCOME ON Cash and Other
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  • ASIA-PACIFIC/WORLD
    • 853 16  -  STEVE SLATER By THE Monaco Grand Prix, along with Singapore, is the jewel in the sport's crown. For many big companies, entertaining YIP clients in Monaco is the sole reason they invest money in Formula One (Fl). So the current meltdown of Fl, on the
      853 words
    • 311 16 Bloomberg [NEW YORK] Chrysler LLC won approval to borrow as much as U554.96 billion from the US Treasury Department during its bankruptcy as the company works to complete a planned sale of most of its assets. US Bankruptcy Judge Arthur Gonzalez approved the
      Bloomberg  -  311 words
    • 397 16 Bloomberg [NEW YORK] GMAC, the car and home lender that was bailed out in December, will receive more than US$7 billion in government funds to provide financing for customers of Chrysler and General Motors, according to two people familiar with the
      – Bloomberg  -  397 words
  • Page 16 Advertisements
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  • WORLD
    • 669 17 ■AP CEO Stringer faces test as he moves to slash costs, flesh out turnaround plan [TOKYO] Sony Corp will halve the number of parts suppliers to slash costs under a turnaround plan that is testing the mettle of chief executive Howard Stringer. The
      ■AP  -  669 words
    • 885 17 -NYT AMERICAN IDOL [LOS ANGELES] America chose sweetness over sizzle, small-town reticence over Vegas swagger, or as Ryan Seacrest put it, the guy next door over "the guyliner". It's possible that American Idol viewers' selection of Kris Allen over Adam Lambert says something about
      -NYT; REUTERS  -  885 words
    • 731 18 Reuters SEC proposal offers 2 ways to give them more say over director nominations [WASHINGTON] Shareholders would have greater power to nominate corporate directors, a process now tightly controlled by company management, under a proposal issued by the US Securities and Exchange Commission on Wednesday.
      – Reuters  -  731 words
    • 362 18 AP [WASHINGTON] The head of the Securities and Exchange Commission (SEC) is objecting to a plan being considered by the Obama administration to create a new financial watchdog to protect consumers. SEC chairman Mary Schapiro said such a new entity, which was discussed
      AP  -  362 words
    • 521 18 Reuters After 64% full-year plunge, the portfolio is currently valued at £8.63b [LONDON] British Land posted £3.2 billion (557.31 billion) of markdowns in property values yesterday, triggering new worries for banks yet to defuse risks on their huge exposure to the battered UK real estate
      – Reuters; BLOOMBERG  -  521 words
    • 549 18 Reuters [NEW YORK] JPMorgan Chase Co and Morgan Stanley are emerging as the top beneficiaries of the biggest boom in US secondary offering activity, stoked by banks' rush to sell stock after government stress tests. May saw the biggest-ever US follow-on activity, based
      – Reuters  -  549 words
    • 375 18 Reuters, AP [NEW YORK] Bank of America (BOA) wants to pay back US$45 billion in bailout funds by the end of the year, accelerated by a programme to raise capital, the Financial Times reported on its website late on Wednesday. The largest
      ■ Reuters, AP  -  375 words
    • 680 18 Reuters [NEW YORK] New US rules for the trading of derivatives could drive market enemies into each other's arms, as dealers and exchanges look to strike more partnerships to yield shared profits from the revamped landscape. The Obama administration's proposals, announced
      – Reuters  -  680 words
  • Page 17 Advertisements
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  • AVIATION/SHIPPING
    • 669 19  -  VINCENT WEE By' It relocates global headquarters to Spore from London [SINGAPORE] For RollsRoyce's marine business, future growth will be driven by demand for specialist vessels in the merchant navy in North-east Asia. Its president, John Paterson, who is in the process of relocating to
      ROLLS ROYCE  -  669 words
    • 2580 19 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
      2,580 words
    • 294 19  -  VICTOR KATHEYAS By [SINGAPORE] WHILE other airlines may have seen passenger numbers fall, Tiger Airways is "bucking the industry trend" and has even added more capacity in the fourth quarter ended March 31, said Tony Davis, group CEO and president of Tiger Aviation. Passenger
      294 words
    • 366 19  -  VENSREENIVASAN Cargo demand also declines; premium class remains weak as firms cut travel By [SINGAPORE] Asia-Pacific airlines carried 5.8 per cent fewer passengers in April this year than they did in the same month in 2008, according to preliminary figures released yesterday by
      366 words
    • 393 19 -IHT [PARIS] Air France-KLM Group and Delta Air Lines on Wednesday signed a deal to put the finishing touches on a joint venture that they said would control about 25 per cent of passenger flight capacity between the United States and Europe. The
      -IHT  -  393 words
    • 332 19 Reuters [HONG KONG] The shipping industry has been sailing through troubled seas as the global recession takes a toll on trade, but Asian shipping stocks have rebounded in 2009 as investors bet on a recovery. China Cosco, which operates the world's biggest dry bulk
      – Reuters  -  332 words
    • TRANSPORT STOCKS
      • 102 19 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KWentures Keppel Corp MTQ Corp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship 0.48 0.24 1.15 0.48 1.21 0.44 0.06 0.48
        102 words
      • 36 19 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings Nepline Bhd PDZ Holdings 0.75 8.35 8.30 3.18 2.71 0.03 0.11 -0.01 7( -0.10 251 -0.20 331 unch 701 -0.01 101 o.oi unch *****
        36 words
      • 12 19 '00 ■recious Ship Jegional Cont .17.30 ...8.00 -0.40 -0.50 597! 256:
        12 words
      • 6 19 '000 Joil .30.35 0.95 295!
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      • 20 19 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 5.80 15.75 unch unch 0.10 -0.25 unch unch 104( 241!
        20 words
      • 20 19 Evergreen Marine ....18.00 :irst Steamship 47.50 /Van Hai Lines 17.70 fang Ming Marine...12.50 0.15 -0.50 -0.40 -0.05 1 1
        20 words
      • 37 19 '000 :awasaki Hvy Ind ..207.00 unch 7279 :awasaki Kisen 392.00 -12.00 ***** /litsubishi Hvy 330.00 -3.00 8998 /litsui Eng&Sbldg...222.00 2.00 4491 /litsui Osk Lines 630.00 -3.00 ***** Jippon Express 384.00 -7.00 4360 lipponYusen 431.00 -5.00 7438
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  • EDITORIAL & OPINION
    • 525 20 FORMULA One which involves big money and big business, not to mention big egos is imploding and risks degenerating into a circus. The sad thing is the Fl bigwigs don't realise, or seem to care, that all that political infighting is turning off the sport's biggest
      525 words
    • 1070 20  -  LEON HADAR Republican Jon Huntsman, who speaks fluent Mandarin, is clearly qualified for the job TO say that US President Barack Obama's selection of Governor Jon Huntsman as the next American ambassador to Beijing came as a surprise to Washington's politicos and
      AFP  -  1,070 words
    • 687 20  -  PAUL SAMUELSON THE BOTTOM LINE HENRY Ford said: "History is bunk." Even more cynically, Napoleon said: "History is a set of fables agreed upon." Both had a point. Back in the early *****, during the Great Depression, President John F Kennedy's father, Old
      687 words
    • 1249 21  -  SEBASTIAN ARCURI There are opportunities to be found in the current investment environment even though times are challenging By: INVESTORS faced a watershed year in 2008 when the US housing downturn snowballed into a global financial crisis, bringing down equity markets and ending five years of
      REUTERS  -  1,249 words
    • 752 21  -  HARISH MEHTA VIETNAM has a history of innovation in times of war, but can Hanoi do it again in peacetime? Hanoi's leaders are aware of the potential of the current economic crisis to cause widespread problems among the population, and are conscious of
      752 words
    • 374 21  -  Myrna Thomas LETTER TO THE EDITOR WE refer to recent reports and commentaries on Temasek's divestment of its Bank of America (BoA) stake. We would like to clarify some of the points raised. Temasek invests with the objective of delivering sustainable returns over the long term.
      374 words


  • SINGAPORE STOCKS
    • 8787 22 Transaction date: May 21 High Low Code Company Sale C000) High Low Buyer Seller C'vr •k P/E j3 8 3 3148 8Telecom 10 2.5 5834 A-Sonic 30.5 12 5000 ABRHIdgs 15 5.5 1938 AEICorp 8.5 1 1100 AEM 23 7 2101 APOil 75.5 26.5 5550 ARA 8.5 2.5
      8,787 words
    • 1623 23 High Low Code Company Sale C000) High Low Buyer Seller C'vr •k P/E $mil 19 5 1181 s AAGrp 32 12 8538 t APStrategic 35 05 1501 s Advanced System 105 2 3480 t Adventus 275 85 3518 s Afor 17.9 2 1524 t Alantac 195 35 7814
      1,623 words
    • 3 23 lh
      3 words
    • 189 23 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
      189 words
    • 9227 23 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!S 1.803/ AIGIF S'pore Bond Fund/A 1.239/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 0.93/ APS Alpha Fund (USD)!** 0.63/ APS Komaba Asset Mgt Pte Ltd APS Komaba Global Bond SGD 0.5057/ APS Komaba Global
      9,227 words
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      3,148 words

  • Page 27 Advertisements
    • 579 27 w Af WATS _L^l^^^ M. M. V^ -L LJ Toll free: 1800-289-8822* Email: notices@sph.com.sg» www.cats.com.sg INTHEMATTEROF INTHEMATTEROF matted ncxuc THE COMPANIES ACT, CAP. 50 THE COMPANIES ACT (CAP. 50) IN THE MATTER OFTHE AMD AND COMPANIES ACT, CAP. 50 FORM 69 (3) CA^FAHIvra^A^IOOM MITSUBIrSH^ELECTRONICS N.S. LEE HOLDINGS (RULE 91) TlSraW
      579 words
    • 105 27 sMgg**" "MM I^VI Draw today at 9.30pm Sales close at 9pm lp A Yr!) A|ways P'ay with care. -=r= swgapOij Iresponsibiyf DO not bet illegally. L J- m** Towards Community F^^H *Mm *J Purpose and Benefit J RCBReqNo 1%8O02O2G May 09 M M mW M. a€ f j^^| POOLS y^v
      105 words


  • Page 29 Miscellaneous
    • 300 29 CRYPTIC CROSSWORD you here (8) I r~ I 6 Disagreement, we hear, in one form of birth (6) 110 9 When one chooses, return mm j L_ thanks to Shakespeare (2,4) 10 Taking drug, turns to crime 812 r in spectacular fashion (8) I —fl 11 Face up perhaps, but
      300 words

  • Page 30 Advertisements
    • 31 30 tahlat THE HEARTBEAT OF THE INDIAN COMMUNITY SINGH/ AkCongress win W /\y^% is good for r/; y\ business, say Tfe' m. Indians here 11 f^^fM? A new passage through Little India
      31 words
  • Page 30 Miscellaneous
    • 579 30 MM. Classical dance recital showcase. Last November, +9 ONE of the popular forms of Indian presented their highly anticipated classical dance is Bharathanatyam Spring/Summer '09 collection with (Bharatha a combo of the three the support of Bridgestone Singapore syllables bhava (expression), raga and Front Row. The successful fashion XSr^C* (tune)
      579 words

  • Page 31 Advertisements
    • 589 31 m^" U_^j ffi fsfo2o£fe^ j^. 'South Australia. X lIWIWhBQ g^g^g^ I li V#^* S\/i/i^//blr&f)^^ _< I w4.w4.southaustraiia.com j^^^B^fl^M^HMlK >-v A I /i I -r> J_^_^_J^A^mJ I j Fi&v3m*mm* \g\my** j Return economy airfare on SIA fj^r^^ mmmm^i |^k 4 nights motel accommodation CS^BJSBkm^ fl^^^EEß sai^nered by m JJ^H -^mr B&
      589 words

  • executive lifestyle
    • 1671 32 Even before the Great Singapore Sale kicks off, it is in danger of being overshadowed by sales everywhere, reports MELISSA LWEE IT'S the Great Singapore Sale. Or is it? Ever since the credit crunch turned the world's stores into permanent discount outlets Singapore being no exception
      YEN MENG JIIN  -  1,671 words
    • WINE/NIGHT OUT
      • 1277 27 N K YONG gives his take on some white wines that in Asia, are not consumed as much as red ones CONSUMPTION of reds far exceeds that of whites here as it is in the rest of Asia, a trend which is to be decried as
        1,277 words
      • 473 27  -  MELISSA LWEE By CONSIDERING that she grew up surrounded by music, Samantha Ronson's fall into the industry was as good as inevitable. "I was raised around music all of my life my stepdad (Mick Jones) is in the band Foreigner and music
        473 words
    • ARTS/BOOKS
      • 940 28 CLARISSA TAN checks out the new SSS Sculpture Pavilion and talks to Han Sai Por, the first artist-in-residence at this unique showpiece IT IS hot, even muggy, close to noon at Fort Canning Park. The skeletons of two shipping containers, gutted of several
        YEN MENG Jll IN  -  940 words
      • 689 28  -  CLARISSA TAN The Angel's Game By Carlos Ruiz Zafon Weidenfeld Nicolson Pages: 443 Price: 5528.92 before GST Rating: B Reviewed by IT'S evident on every page he writes, that Carlos Ruiz Zafon loves books. Not only for their content; he loves books as things,
        689 words
      • 569 28  -  PARVATHI NAYAR PROFILE By WITH the Asian nuclear threat as the overriding arc that shapes its story, Burnt Shadows is a newsworthy novel. And by making this year's Orange Prize short-list, the book has also propelled into the news its Pakistan-born, Lon-don-based
        569 words
      • 336 28  -  PARVATHI NAYAR Burnt Shadows By Kamila Shamsie Blooms bury Pages: 363 Price: 5524.95 (w/o GST) Rating: B+ Reviewed by "HOW did it come to this," wonders an unnamed man, as he waits for the orange jumpsuit that alludes to his incarceration at Guantanamo, in the prologue
        336 words
    • SINGAPORE ARTS FESTIVAL 2009
      • 1059 29 Distant Worlds: Music from FINAL FANTASY is just one of many worldwide, reports CHRISTOPHER LIM BY the middle of this year, three concerts of computer game music would have performed in Singapore, and some of you might have trouble telling them all apart. For example,
        1,059 words
      • 513 29  -  LIM WEN JUIN By IT was, from the look of it, just a regular Wednesday at Changi Airport's Terminal 3 a Singapore Airlines A3BO flight from the UK, disgorging passengers out of its bowels and into the transit area. If anything, the passengers
        513 words
      • 494 29  -  UMA SHANKARI By NAZISM is always an uncomfortable topic to tackle. Which should make Ruhe where director Josse De Pauw tries to confront the fact that ordinary, decent people were complicit in evil a difficult watch. De Pauw conceived the play about 10 years ago
        494 words
    • CINEMA
      • 559 30 The Baader Meinhof Complex inadequately chronicles the history of the notorious Red Army Faction, says AMANDA DE GUZMAN ONE would have expected The Baader Meinhof Complex to be a psychological exploration of the minds behind the notorious Red Army Faction that terrorised
        559 words
      • 602 30  -  GEOFFREY EU By THE public fascination with the lives and loves of prominent members of the British monarchy has long been mirrored in cinema, which can be counted on to churn out lush, charac-ter-driven costume dramas about the country's ruling elite with annoying
        602 words
      • 502 30  -  AMANDA DE GUZMAN By IN between writing, directing, and acting in vaguely compelling comic fare like Zoolander and Tropic Thunder, Ben Stiller lends his tightly wound persona to frustratingly idiotic movies in the vein of Along Came Polly. With the exception of
        AP  -  502 words
    • MUSIC/GAMING
      • 758 31 Mark Johnson wants music to bring about peace, reports CHRISTOPHER LIM YOU are as likely to see Los Angeles native Mark Johnson recording musicians in a small Indian village as in someone's backyard in Zimbabwe. Listen to the finished songs, however, and
        758 words
      • 540 31  - 2 cool Web albums, 1 worth applauding CHRISTOPHER LIM CD REVIEW California Years Jill Sobule Rating: B+ LeftßightLeftßight Coldplay Rating: B Abnormally Attracted To Sin Tori Amos Universal Republic Rating: A By JUST when you're bemoaning the music industry's refusal to embrace the Internet properly, two cool Web albums come
        540 words
      • 534 31  -  CHRISTOPHER LIM Byl MAC gamers are used to not getting any love from game developers. A glance at retail shelves will show that's still largely the case. When Apple started making Macintosh computers capable of running Microsoft's Windows operating systems, some people were
        534 words
  • Page 32 Miscellaneous