The Business Times, 13 July 2009

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg Sf^l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 197/08/2008 Monday, July 13,2009
    23 words
  • 623 1  -  NISHA RAMCHANDANI Terms of tender, poor economic climate, site conditions raise risks, costs for potential bidders By [SINGAPORE] The race to build the Changi Motorsports Hub (CMH) is turning into a bumpy ride. Since the Request For Proposal (RFP) for the project was released on
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  • MARKETS DIGEST
    • 52 1 Weekly lange iT Index 2,307.98 +8.23 ICOMP 1,067.76 -4.93 IIKKEI225 9,287.28 -528.79 IANG SENG 17,708.42 -494.98 ;et INDEX 566.03 -17.45 JAKARTA COMP 2,063.09 -12.21 IANILACOMP 2,487.22 +55.88 ;eoulcomp 1,428.62 +8.58 IHENZHEN B 512.77 -2.61 IUMBAI IND 13,504.22 -1408.83 )OW 8,146.52 -134.22 IASDAQ 1,756.03 -40.49 ;&P 500 879.13 -17.29 TSE
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    • 29 1 Bloomberg SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 16.709 TAIWAN 4.776 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.52 INDIA 11.75 Source:
      Bloomberg  -  29 words
    • 46 1 IS$ (S$ per US$) 1.461 (US: i/S: per 1.628 2.378 EURO (US$,S$/E) 1.392 2.033 Foreign currency per US$ S$ EN 92.70 63.40 3.578 2.449 IK$ 7.750 5.305 IAHT 34.09 23.33 UPIAH 10,145 6,944 ENMINBI 6.832 4.677 INDIAN RUPEE 48.76 33.37 1.284 0.879 IZ$ 1.594 1.091
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  • 753 1  -  SIOW Ll SEN RACHEL SIM DBS, OCBC, UOB go beyond donations to charities By and [SINGAPORE] The three local banks among Singapore's largest companies are embracing corporate social responsibility (CSR) as never before, though their efforts vary somewhat. While fundraising and hefty donations to organisations
    FILE PHOTO  -  753 words
  • Page 1 Advertisements
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  • Page 1 Miscellaneous
    • 63 1 M** TOKYO I GENERAL MOTORS VjJIV I COMPANIES I VIEWS FROM THE TOP^-^ P ELECTION Investors buy up Iff] I KepLand offers 29 cents Nurturing budding j Taro Aso's fate worthless shares a share to delist Evergro entrepreneurs vi/ sealed? page 3 page 3 pages pages 10-11 gj GERMAN GRAND
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 48 2 POTENTIAL bidders for the Changi Motorsports Hub project find the tender terms too onerous, and appear to be getting cold feet. One challenge seems to be funding, given that banks are cautious in the current economic climate. Another is soil conditions. FRONT PAGE
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      • 40 2 SINGAPORE'S three local banks are embracing corporate social responsibility with zeal, going beyond donations to encouraging staff participation. But compared to the major foreign banks, the local banks' CSR programmes are still evolving. FRONT PAGE
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      • 58 2 THE global stock selldown in the wake of the credit crunch last September has slowed to a trickle at least among US investors. They sold a net US$3.B4 billion in the first three months of the year, down sharply from U5542.58 billion
        58 words
      • 73 2 THE Democratic Party of Japan appeared last night to have gained control of the Tokyo Metropolitan Assembly after an election that analysts say is likely to seal the fate of "lameduck" Premier Taro Aso. But Mr Aso has claimed that the election was
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      • 54 2 GENERAL Motors says its shares are worthless but many investors have apparently missed the message. GM's stock, which now represents the company's bankruptcy estate, continued an improbable rise in price on Friday, prompting concern by company officials and securities regulators that investors are confused.
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      • 48 2 KEPPEL Land will pay 29 cents a share to delist Evergro Properties, its China unit. The price is a 16 per cent premium over Evergro's last traded price on Friday of 25 cents a share. COMPANY NEWS, PAGE 5
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      • 46 2 FEAR and uncertainty over how gains from property sales would be taxed vanished as quickly as they appeared last week. Home seekers still thronged showflats over the weekend and smaller apartments remained popular picks. SINGAPORE NEWS, PAGE 8
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      • 68 2 THE "captivity" of the yen came to a head last week when the currency hit a five-month high on the day that Tokyo stocks sank to a five-month low. This reversal of the normal order the yen should weaken when Japanese stocks are sold
        68 words
      • 56 2 THE worst is yet to come, top White House economic adviser Larry Summers said on Saturday about the ongoing economic crisis. "It's very likely that more jobs will be lost. It would not be surprising if GDP has not yet reached its low,"
        56 words
      • 46 2 SHARES in China's first initial public offerings in 10 months doubled on their listing debut in Shenzhen on Friday, boding well for coming IPOs even as a flood of new offerings risks saturating the market. GREATER CHINA, PAGE 17
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    • 771 2  -  ANDREW MARKS WALL STREET INSIGHT Analysts see upside despite signs that recession is far from over By in New York The US stock market continued to stumble last week as investors increasingly lost confidence that the massive rebound in share price valuations
      771 words
    • 659 2  -  CHUANG PECK MING By [SINGAPORE] The heavy selling in global stock markets that came in the wake of the credit crunch last September has slowed to almost a trickle at least for American investors. They sold just a net US$3.B4 biUion of
      659 words
    • 598 3  -  ANTHONY ROWLEY The LDP leader may find himself ousted before the Lower House election By. in Tokyo JAPAN'S main opposition Democratic Party last night appeared to have easily gained control of the Tokyo Metropolitan Assembly after an election which analysts say is likely
      REUTERS  -  598 words
    • 585 3 MT They may have thought they were buying shares of the new GM [NEW YORK] Shares in "General Motors", the company says, are worthless. But many investors apparently have missed the message. GM's stock, which now represents the company's bankruptcy estate, continued an improbable
      MT |  -  585 words
  • Page 2 Advertisements
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      212 words
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  • Page 3 Advertisements
    • 150 3 TATA Profit from growing globalizatio^^^^^^ I Solutions for the New World I World's Farthest Reaching Network I Data Centers and Managed Services I Emerging Markets Intelligence It's a new world, new opportunities, new revenues. You need emerging markets mm mm\ m mmAm. ffWKAWAI lIVII-T" ATIfWIC intelligence and leading solutions on
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  • SINGAPORE MARKETS
    • 718 4  -  R SIVANITHY STOCKS SINCE the end of March, this column has advised readers to play the bounce in equities as if the economic recovery is going to be V-shaped, but to bear in mind that it would most likely be some other shape,
      718 words
    • 488 4 ■AFP CURRENCIES [HONG KONG] Asian currencies ended the week mixed against the US dollar with the Japanese yen strengthening thanks to demand by risk-averse investors. Japanese yen: The yen touched a five-month high against the US dollar at one point in the past week as
      ■AFP  -  488 words
    • 410 4 'aymen! (cts) Ex Books date close Pay date ,ustraland Prop A __1 3.000 26-Jun 30-Jun 04-Aug izeus Sys bo 0.050 04-Aug 06-Aug 21-Aug Sembawanj ak 2.000 24-Jul 28-Jul 07-Aui Ian Leon, Tech ak 0.300 30 Jul 03-Aui 21 -Aui loustead S ak 2.500 04-Au, 06-Aui 20-Aui chemical Ind
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    • 536 4 -AFP COMMODITIES [LONDON] Oil prices sank below US$59 per barrel this week for the first time since late May on renewed concerns about weak demand for energy, dealers said. One week earlier they had hit eight-month peaks above US$73, while one year ago they recorded
      -AFP  -  536 words
    • 1470 4 Reuters Source: Lonsensus no. ot i-orecasi mean t-n s recommendation esti- EPS PE target price This wk Last mth mates (cents) (ratio) price lompany name \llgreen Prop Ltd 2.82 2.58 11 5.40 16.84 0.86 0.93 ,RA Asset Mi )t Ltd 2.00 2.00 2 6.25 8.24 0.64 0.55 ,rmstroni
      Reuters  -  1,470 words
    • 4 4 WEEKLY
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    • 61 4 Jul 10 VALUE CLOSE IT OB/OS -539.00 -84.0C IT CADI -*****.00 -68.0' IT 10-day MA -*****.00 -54.0' TSE ST Mid Cap 506.99 -4.3' TSE ST Small Cap 409.05 -1.7: TSE ST All Share 559.72 -0.7: TSE ST China Top 234.03 -1.1 TSE ST China 228.78 -0.71 TSE
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    • 58 4 VOLUME Golden Agri 788,766,000 GoldenAqri R 329,173,000 Capita Land 173,246,000 Ezion 121,317,000 Sing Tel 118,733,000 Gentinq SP 115,314,000 UniFiber 110,443,000 Memstar 98,539,000 STI 2250 DBePWO9IOOI 97,205,000 Straits Asia 97,172,000 VALUE(S) Capita Land 595,479,930 Sing Tel 367,209,704 DBS Grp 339,227,911 CityDev 247,944,000 GoldenAqri 245,262,940 UOB 226,344,894 Wilmar 197,802,094
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    • 106 4 BY CENTS CLOSE UP iBXT FTVietnam 10US$ 4530 394.3 6.3 ICBC Bk5.1%NCPS 100 9800 180.0 1.9 iBXT S&P Short 10US$ 7100 160.6 1.6 ICBCC 5.1%NCPS 100 9570 122.0 1.3 IQB 5.05%NCPS 100 9890 100.0 1.0 lardine C&C 1926 52.0 2.8 ICBC Bk4.5%NCPS 100 8890 50.0 0.6 IMH 2660 43.8
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    • 119 4 I I Closing prices are in trading currencies, but absolute difference is in Ss. CLOSE DOWN 8558-1025.0 -7.6 DBXT Ni 10US$ GLD 10US! 8978-284.8 -2.1 DBXT FTChina25 10US$ 2617-194.2 -4.8 MS India 10US$ 1120-141.6 -8.0 >r India Ni 10 1247 -78.0 -5.9 t China H 10US$ 1369 -75.9 -3.7
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    • 82 4 Where S$ stands Jul 10 %CHNG CLOSE FRJul 9 YR2009 S$ LOW S$ HIGH USS 1.4610 -0.21 1.5579 1.4308 Euro 2.0304 0.23 2.0732 1.9150 Pounds 2.3772 -0.91 2.4051 2.0356 AS 1.1346 0.82 1.1816 0.9453 Yen* 1.5771 -0.89 1.7278 1.4831 Rupiah* 0.***** -0.21 0.***** 0.***** Baht* 4.2845 -0.15 4.3390 4.1040
      82 words

  • COMPANY NEWS
    • 615 5  -  CHEWXIANG Investors can opt for 1 KepLand share for every 7 Evergro shares they own By KEPPEL Land yesterday said it will pay 29 cents a share to delist Evergro Properties, its China unit. The price is a 16 per cent
      FILE PHOTO  -  615 words
    • 724 7  -  YEN SREENIVASAN IT'S not often that a company can boast a single order the size of which is almost double its entire previous year's revenue. Oil and gas tank-farm engineering group Rotary Engineering has done just that. After weeks of market speculation, the
      724 words
    • 276 7 China Milk Products A Grand Hyatt Singapore, Camellia 1, Level 3, 10Scotts Road, Singapore *****1 13-Jul 10.00am Starhill Global REIT E Hilton S'pore, Ballroom 1 581 Orchard Rd Singapore *****3 13-Jul 2.30pm Eunetworks E Suntec City, Meeting Rm 202, Level 2 1 Raffles Boulevard, Intl Convention Exhibition Centre
      276 words
    • 384 7 Jul 10 BANKS ABN Amro Bank NY 5.5 Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank
      384 words
  • Page 5 Advertisements
    • 171 5 _r/iin _i SINGAPORE IPLAYrt Always play with care. Towards Community W mmM l________f Do not bet illegally. Purpose and Benefit 808 Reg No *****0202G POOLS Call 6-222 6868 to find out more ACCOUfltServe about the Account Serve advantage www.Accountserve.com.sg Routine Accounting SWAT Accounting GST Reporting XBRL Filing _1 I o^o
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  • SINGAPORE MARKETS
    • 1451 6  -  TEH HOOI LING ALACK of new leads has led to Singapore stocks in general drifting lower. On average, our portfolios were down 3.3 per cent last week. They fared worse than the Straits Times Index (STI), which edged up 0.36 per cent. The blue chips
      1,451 words
    • 1249 6  -  ROBERT HALILI INSIDE MARKETS By THE buying fell sharply while sales among directors remained low last week, going by filings on the Singapore Exchange from July 6 to 10. A total of 10 companies recorded 24 purchases worth $1.8 million versus two firms with
      1,249 words

  • Page 7 Advertisements
    • 5 7 z OS <c _E o
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    • 3390 7 w WATS X^l V____-/ _1_ J. V___/-!___ L_J Toll free: 1800-289-8822 Email: notices@sph.com.sg www.cats.com.sg TAT HONG 11 TAT HONG HOLDINGS LTD (INCORPORATED IN THE REPUBLIC OF SINGAPORE) Company Registration No. *****5392H NOTICE IS HEREBY GIVEN that the Annual General Meeting of Tat Hong Holdings Ltd (the "Company") will be held
      3,390 words

  • SINGAPORE NEWS
    • 369 8  -  EMILYN YAP Investors, home seekers throng property launches over weekend By FEAR and uncertainty over how gains from property sales would be taxed vanished as quickly as they came last week. Home seekers still thronged showflats over the weekend and smaller apartments
      369 words
    • 348 8  -  BRANDON CHEW By SLOWLY but surely, the contribution of small and medium enterprises (SMEs) to the economy has crept up at least over the period from 2003 to 2007. A profile report released last Friday by the Department of Statistics (DOS) shows that the
      348 words
    • 816 8  -  MICHELLE YEO 'BT More charity events backed by big firms are being held By CORPORATE philanthropy has not shrunk this year despite the recession. A number of charity events sponsored by big corporate names are in the pipeline in the months ahead,
      'BT  -  816 words
    • 117 8 FIFTY-FOUR winners of the YOLO Keep the Dream Alive art competition were given their prizes on Saturday. The competition open to artists age four and above, was to raise funds for The Business Times Budding Artists Fund. The fund is now in its
      117 words
    • 534 8  -  JOANNE TANG Advice from established speakers includes risk taking, management, govt support By AS A prudent businessman, Boustead executive chairman Wong Fong Fui has always preferred to stay cash-rich and eschew debt. Low gearing means lower financial risks, especially during crises, he told attendees
      534 words
    • 312 8  -  SIOW Ll SEN By THE first time that Standard Chartered Bank senior manager Hussain Thameezdeen met construction workers to raise awareness of the dreaded HIV and Aids, he was a tad nervous. After preparing to make the presentation in English, he and his
      312 words

  • BT-CITIBANK YOUNG INVESTORS'S FORUM
    • 753 9 Unique project breathes academic insights into business realities and vice-versa, reports MICHELLE YEO T IS a unique project that takes students out of the classroom for a look at how real businesses work and gives businesses a chance to benefit from academic insights. The
      STOCK.XCHNG  -  753 words
    • 984 9 CAMPUS LIFE Prepare for business world by exploring, engaging and evolving progressively, says RICHARD RUBNAN QUE THE current financial crisis has sparked debate and comments that business schools are partly the cause for creating a breed of businesspeople who are motivated
      984 words
    • 204 9 FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors' Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
      204 words
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    • 46 9 citibank THE Business Times-Citibank Young Investors' Forum is published every Monday in The Business Times. It aims to raise the financial awareness of university and polytechnic students and cultivate a better understanding of business issues. The series is part of BT and Citibank's tertiary outreach programme.
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  • VIEWS FROM THE TOP
    • 4330 10 THIS WEEK'S TOPIC: Is it easier now to run your own business in Singapore? What more needs to be done to encourage entrepreneurship here? Benedict Soh Executive Chairman Kingsmen Creatives Ltd SINGAPORE is one of the easiest places in the world for anyone to start one's own
      STOCKXPERT  -  4,330 words

  • Page 11 Advertisements
    • 7 11 z s Lf. O a: o —3
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    • 1524 11 1 IN THE MAHER IN THE MATTER OF OF THE WALT DISNEY COMPANY (SINGAPORE) PTE LTD THE COMPANIES ACT, CAP. 50 (IN MEMBERS' VOLUNTARY LIQUIDATION) thf matt, n Company Registration No. *****5956R Nthemattek NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies ONE TWO COFFEE PTE. LTD. Act,
      1,524 words

  • DINING OUT
    • 683 12  -  Audrey Phoon NEW RESTAURANT Le Figue 1 Orchard Boulevard, #01-01/02 Camden Medical Centre Tel: 6887 5383. www.lefigue.com.sg OFTEN, eateries opened by first-time restaurateurs are characterised by inexperienced service, over-ambitious menus or tight seating. In short, they're no fun to eat at, because it's obvious
      YEN MENG JIIIM  -  683 words
    • 661 12  -  Audrey Phoon RESTAURANT REVAMP Orchard Lei Garden 321 Orchard Road, #03-00 Orchard Shopping Centre Tel: 6734 3988. www.leigarden.hk UNTIL recently, Orchard Lei Garden could be likened to a fashion retailer of T-shirts and khakis in an area full of more glamorous options. It was staid
      661 words
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  • ECONOMY WATCH
    • 242 13 [SEOUL] South Korea and the European Union (EU) have tentatively reached a free trade deal that will boost their US$lOO billion two-way trade and will likely announce it today, the trade ministry here said. The EU's first major trade pact in Asia has been
      242 words
    • 638 13  -  ANTHONY ROWLEY Sharp swings in the currency's value has, increasingly, little to do with Japan By in Tokyo CONCERNS on the part of China and other emerging economies about the future role of the US dollar as a global reserve currency reappeared at last
      REUTERS  -  638 words
    • 335 13 Reuters [PARIS] Industry in France and Italy performed better than expected in May, fuelling hopes the worst of the crisis may be over, and Germany said on Friday its economic slump may have reached a bottom. French industrial output jumped 2.6 per cent, easily
      Reuters  -  335 words
    • 374 13 ■AFP [NEW YORK] When it comes to the economic crisis, the worst is yet to come, top White House economic adviser Lawrence Summers said on Saturday. "I don't think the worst is over," Mr Summers told the Financial Times. "It's very likely that
      ■AFP; FILE PHOTO  -  374 words
  • Page 13 Advertisements
    • 825 13 w A WATS _R> I KING WAN CORPORATION LIMITED (Incorporated in Singapore) (Company Registration No. *****1034R) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Tenth Annual General Meeting of KING WAN CORPORATION LIMITED [the "Company") will be held at the Board Room, 8 Sungei Kadut Loop, Singapore
      825 words
    • 297 13 /7%. l 9r l#V /ST (,jo p t &r_; i lawivi^jv by JP Pepperdine Each Steak we serve is sufficient for an Average Adult's Daily Requirement of Iron(Fe), Sodium(Na) and Protein. Set Lunch from $9.20 Set Dinner from $16.00" fl fCm* FL_ ...Resume your shopping spree ll^ -___0 after enjoying
      297 words

  • MALAYSIA
    • 255 14 -AFP [KUALA LUMPUR] An increasing number of Malaysian couples are seeking fertility treatment as the country's birthrate declines, a newspaper reported yesterday. A recent United Nations report showed that the country's fertility rate dropped from 3.6 babies per couple in 1990 to 2.6 babies currently,
      -AFP  -  255 words
    • 716 14  - Enforcers needed for KL 's reforms PAULINE NG MALAYSIA INSIGHT Najib should appoint task force to jump-start new system MUCH was made of Prime Minister Najib Razak's first 100 days in office last week which he celebrated with a slew of goodies for the public. His 100 days have received
      716 words
    • 2103 14 VOL C000) lul 10 RM M Realty \bricBhd \dvance Synergy \dventa Bhd \e Multi Hldgs \ffin Holdings \hmad Zaki Resou Me Corp Mrasia Bhd \kn Technology Mliance Financi Muminium Co Amalgamated Ind \mmb Hldgs Bhd \mtel Holdings \mway Malaysia \nalabs Resource \ncom Berhad \nn Joo Resource \pex Healthcare
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    • 2133 14 kAT_#^T^T_#^<-_r _H Toll free: 1800-289-8822 T^^L [VIII If l-i V Email: notices@sph.com.sg JL V__-/ JL JL^«> L_J www.cats.com.sg Avaplas Ltd Company Reg. No.: *****1788 C (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING AND NOTICE OF BOOKS CLOSURE DATE Notice is hereby given that the Annual General Meeting of the
      2,133 words

  • FOCUS:TECH INDIA
    • 656 15 Reuters Technology firms are tapping India's unique characteristics [BANGALORE] When Google Inc executives in India found that the country was largely "terra incognita" when it came to digital maps, they saw the makings of a new product. The fruit of their labour was Google
      – Reuters; AP  -  656 words
    • 785 15 Reuters [BANGALORE] As the world prepared for the launch of Intel's server processor Xeon 7400 last September, engineers here dubbed the Silicon Valley of India were putting the finishing touches on what would become the company's best-performing server chip yet. The chip was designed
      ■ Reuters  -  785 words
    • 581 15 Reuters [BANGALORE] As India's dream of moving up the value chain in the tech industry is slowly realised, its giant bite into the research and development apple has led to some teething troubles. An English-speaking population and a job-hun-gry country once enticements enough to
      Reuters  -  581 words
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    • 1860 15 Wg#^f k AT^T'T_^!T-' _T< Toll free: 1800-289-8822 T^^L [VIII If l-i V Email: notices@sph.com.sg _L^l V___x _I_ IV_ _t 1 jil www.cats.com.sg TRITECH GROUP LIMITED p| ©CM (Company Registration No. *****9330R) (Incorporated In the Republic of Singapore] NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Ist1 st
      1,860 words

  • INDIA
    • 663 16 Reuters, Bloomberg Governor: debate on alternative, implications will be longer than expected [MUMBAI] India's central bank said that the US dollar will continue to be the global reserve currency for now, amid calls for debates to replace the US unit. "At this time,
      – Reuters,; Bloomberg; REUTERS  -  663 words
    • 299 16 Reuters [MUMBAI] India aims to reform policy and ease investment rules for infrastructure projects in an effort to attract capital to rebuild and expand its overburdened road network, the road transport minister said on Friday. The government hopes to reduce the likely
      Reuters  -  299 words
    • 312 16 -AFP [NEW DELHI] Indian Prime Minister Manmohan Singh has defended his government's economic growth target of between 8 and 9 per cent, despite the global recession, a report said on Saturday. Mr Singh, on his way back from a meeting of the
      -AFP; REUTERS  -  312 words
  • Page 16 Advertisements
    • 2882 16 j%40. BOUSTEAD SINGAPORE LIMITED II (Incorporated in Singapore) BOUSTUDi (Company Registration Number: *****1036K) Since 1828 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the ANNUAL GENERAL MEETING of Boustead Singapore Limited (the "Company") will be held at 67 Übi Avenue 1, #02-01 Star Hub Green, Singapore *****2 on
      2,882 words

  • GREATER CHINA
    • 620 17 Reuters Analysts warn of excessive valuations and losses from retail speculation [SH_\NGHAI] Shares in China's first initial public offerings (IPOs) in 10 months doubled on their listing debut in Shenzhen on Friday, boding well for coming IPOs even as a flood of new
      – Reuters; AFP  -  620 words
    • 236 17 Reuters [SHANGHAI] The China Securities Regulatory Commission (CSRC) said on Friday it would restart its reviews for approving initial public offerings (IPO) this week, having suspended them since last September. The CSRC will on Wednesday review applications for the IPOs of Shanghai Chaori Solar Energy Science
      ■ Reuters  -  236 words
    • 466 17 Reuters Trade surplus shrank to USsB.2sb, the lowest since Feb [BEIJING] The rate of decline in Chinese imports slowed sharply last month as the government's massive infrastructure spending sucked in commodities and other goods from the rest of the world. Imports in June were 13.2
      Reuters  -  466 words
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    • 2817 17 «a m m S-M -T-G SWING MEDIA TECHNOLOGY GROUP LIMITED (Incorporated in Bermuda on 26 March 2001) (Company Registration Number *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of SWING MEDIA TECHNOLOGY GROUP LIMITED (the "Company") will be held at 80 Raffles Place,
      2,817 words

  • ASIA-PACIFIC/WORLD
    • 692 18 Reuters Analysts are expecting the bank to report net income of U553.54 a share [NEW YORK] Under normal circumstances, Goldman Sachs Group Inc might be afforded a moment of gloating as it struts toward what could be a banner earnings announcement just nine
      Reuters  -  692 words
    • 523 18 Bloomberg [LONDON] Jeff Koons has turned London's Serpentine Gallery into a menagerie. The 54-year-old artist shows inflatable lobsters, turtles and dolphins (made of polychromed aluminium) in his first UK public exhibition, Jeff Koons: Popeye Series, which started on July 2 and
      Bloomberg; REUTERS, BLOOMBERG  -  523 words
    • 419 18 Reuters [FRANKFURT] Volkswagen has sweetened its bid to purchase almost half of sports car maker Porsche AG and is prepared to offer considerably more than four billion euros (558.16 billion), Germany's Der Spiegel reported. The weekly magazine wrote last Saturday that Wendelin
      Reuters  -  419 words
    • 488 18 AFP Calls for promoters to foot the million-dollar bill [LOS ANGELES] Disgruntled Californians, their state broke and in budget meltdown, are asking why taxpayers should foot the bill for Michael Jackson's million-dollar memorial last week. While the largest state in the union has long revelled
      AFP  -  488 words
    • 456 18 Reuters CHINA SPY CASE [PERTH] Australia warned China yesterday of the risks to business confidence from the detention without charge of an Australian executive who is accused of stealing state secrets, and Chinese executives feared a wider purge. The detention a week ago
      – Reuters  -  456 words

  • WORLD
    • 633 19 -Reuters The number of primary dealers sunk to a record low of 16 during the crisis [NEW YORK] US bond firms that want to attain the coveted direct business ties with the Federal Reserve have likely been partly responsible for the robust bidding for
      -Reuters; BLOOMBERG  -  633 words
    • 418 19 Reuters, NYT [MIAMI] The US government and ÜBS AG asked a federal judge yesterday to delay the opening of a closely watched trial, as they seek to resolve their dispute over US demands for the identities of thousands of wealthy Americans
      Reuters, NYT  -  418 words
    • 476 19 Bloomberg [WASHINGTON] Treasury Secretary Timothy Geithner said that while the pace of decline in the US economy has "slowed dramatically", there are still "enormous challenges". "It's going to be a while before we're confident we're going to have a strong, sustainable recovery
      Bloomberg  -  476 words
  • Page 19 Advertisements
    • 3065 19 TRANSCU GROUP LIMITED Company No. *****0320E (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that the Annual General Meeting of TRANSCU GROUP LIMITED (the "Company") will be held at M Hotel, Anson 111 Level 2, 81 Anson Road, Singapore *****8 on Tuesday, 28 July 2009 at 9.30 a.m.
      3,065 words

  • FORMULA ONE
    • 685 20 AFP Vettel finishes second in a triumphant one-two for Red Bull as Ferrari's Massa takes third spot [NURBURGRING, Germany] Mark Webber secured his maiden Formula One victory and Australia's first since 1981 when he led team-mate Sebastian Vettel home in a triumphant onetwo for
      AFP  -  685 words
    • 596 20 Reuters, AP [NUERBURGRING, Germany] Formula One's world governing body must strive to keep the car manufacturers in the sport, would-be president Ari Vatanen said at the German Grand Prix. The Finn, who has announced he would stand for International Automobile Federation (FIA) president in October
      Reuters,; AP  -  596 words
  • Page 20 Advertisements
    • 2142 20 V*^L k AT^T-'T_r^-_r r> To"free: 180°-289-8822 I\JII If _H Email:notices@s Phcom- s 9 JL Vfc_-/ JL JL^^ l 3 www.cats.com.sg *~^W TRAVELITE HOLDINGS LTD. H5 (Registration Number *****1089K) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting of TRAVELITE HOLDINGS LTD. (the "Company') will be
      2,142 words

  • AVIATION/SHIPPING
    • 35 21 AP Amanda Younkin-Franklin wing-walks on a stunt plane piloted by her husband Kyle Franklin during the Prairie Air Show at the Gen Wayne A Downing Peoria International Airport in Peoria, Ilinois on Saturday
      AP  -  35 words
    • 277 21 Bloomberg [LONDON] TUI AG, the owner of Europe's largest travel company, is running out of cash as revenue at its Hapag-Lloyd shipping line slides and a loan to one of its units is unlikely to be paid, Societe Generale SA analysts said. The company has
      ■ Bloomberg  -  277 words
    • 404 21 Bloomberg [BANGKOK] Thai Airways International Pel has asked Airbus SAS to delay the delivery of the first three of six A3BO planes that it has on order by one year to late 2012 because of the global recession. "We are in talks with
      Bloomberg  -  404 words
    • 515 21 Reuters Country building 50 new ports over next 5 years in bid to cut congestion [NEW DELHI] Global firms including Rio Tinto and Noble Group are interested in participating in India's 558 billion rupees (5516.7 billion) port expansion projects, a top government
      Reuters  -  515 words
    • 350 21 Bloomberg [LONDON] The Baltic Dry Index, a measure of shipping costs for commodities, had its biggest weekly decline in almost four months on weaker Chinese demand for iron ore to make steel and coal. The index tracking transport costs on international trade routes fell
      – Bloomberg  -  350 words
    • 2696 21 AIRCRAFT ARRIVALS AND DEPARTURES AIRLINE CODES: AA: Amencao Airlines (AAO Al: Air India (AIC), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAWO BG: Biman Bangl-u..,, BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR: EVA Airways Corpn (EVA), CA: Air
      2,696 words
  • Page 21 Miscellaneous
    • 408 21 CRYPTIC CROSSWORD ACROSS i 1 1 1 1 1 1 1 1 1 1 r\ 444 4 a -i 2 I 4 567 I Cleaner starts to expect daily transport (5) 4 Repeated phrase about very —B —_^_H H loud artist and undesirables 8 Unerring marksman with odd -H -H
      408 words

  • SINGAPORE STOCKS
    • 8988 22 Week ended: Jul 10 52-wks Tel |h Low Code Last Sale Vol Week Last Quote Div GrYld Net ('000) High Low Buyer Seller C'vr P/E M Cap Smil Hi. Com| )an] 9 3 3148 STelecom 9 2.5 5834 A-Sonic 24 12 5000 ABR Hldgs 14 5.5 1938 AEI
      8,988 words
    • 1722 23 High Low Code Company Sale C000) High Low Buyer Seller C'vr •k P/E $mil 19 5 1181 s AAGrp 26.5 12 8538 t APStrategic 4 0.5 1501 s Advanced System 7.5 2 3480 t Adventus 26.5 8.5 3518 s Afor 12.5 2 1524 t Alantac 16 3.5 7814
      1,722 words
    • 398 23 52-Wk Tel h Low Code Last Sale Vol Cooo) Week lh Low Last Quote Buyer Seller Div GrYld C'vr Net P/E MCap $mil _H|< Comi 109 100 6389 ABF SG Bond ETF 877 427 CIMBAsean40 100US$ 246 149 DBS STI ETF 100 2786 1682 DBXT FTChina25 10US$ 5268
      398 words
    • 261 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
      261 words
    • 109 23 itod name lose lange :apitaLand 3.390 -0.110 litaMall 1.400 +0.010 :if 'Dev 8.200 -0.110 ;omfortDelGro 1.330 +0.010 ]osco Con 1.150 -0.020 IBS Gn 11.640 +0.100 :&N 3.640 +0.040 ientin: SP 0.695 -0.010 iolden Ai ;ri 0.315 -0.005 IK Land 3.330 +0.010 MH 26.600 -0.040 ISH 14.800
      109 words
    • 102 23 Up Down Unch Up Down Unch Up Down Unch lulti Ind 2 13 2 0 0 0 2 13 2 lanufacturini 56 116 50 12 17 61 128 67 Commerce 14 44 16 10 21 54 18 r/C. ms 17 16 17 18 Onance 12 17 12
      102 words
    • 107 23 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 76,135 76,135 260,685 260,685 lanufacturing 1,010,739 100,602 1,111,341 773,277 4,580 777,857 Commerce 260,629 53,661 314,290 294,592 31,801 326,393 ]t/Stor/Comms 487,023 387 487,410 812,020 55 812,075 :inance 120,941 120,941 933,592 933,592 Construction 329, ,755 89,687 419,442 83,125 1,349 84,474 !_°l
      107 words
    • 2682 23 Transaction date: Jui 10 For a full listing of the closing prices, log on to BT online at http://business-times.asial.com.sg after 11.30pm every trading day Vol ■000 HK$ \eon Stores \ngang Steel \nhui Conch \nhuiexpressway \sia Satellite \sm Pacific Sank Of E Asia Seida Jade Bird Jeijing Airport Seijing
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  • Page 22 Advertisements
    • 23 22 m *mmmmmimmmmmmmmmm————-'' ___> V Le maitre de I'horlogerie depuis 1875 ____T"^9 B^S. i~~ ____tf____H For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com ________jR I\l J
      23 words

  • Page 23 Advertisements
    • 29 23 Insiders'trades. Brokers'recommendations. TIJC Rl ICIMECC Tll\/lEC Dividend table. The pages also cover transactions I nt DU3IIMC33 IMVICj by directors and substantial shareholders. In other words, news you can use.
      29 words

  • FINANCE & COMMODITIES
    • 380 24 In local curr In S$ In USS %dy %yr dy yr dy yr Index Change Change Change Change Change Change Jul 10 World Index Preliminary 665.8 -0.9 -1.8 -0.6 1.4 -0.9 -0.2 t EAFE Prel liminai 638.1 -0.7 -1.7 -0.4 2.8 -0.7 1.2 Euroj Preliminan
      380 words
    • 123 24 As at 9am Jul 10 Singapore dollars to one unit if foreign currency: Currencies Bid 't Offer Aust dollar 1.1320 1.1660 .an dollar 1.2470 1.2620 luro 2.0290 2.0530 IZ dollar 0.9130 0.9340 iterlini md 2.3630 2.3900 JS dollar 1.4490 1.4660 .ocal dollars to 100 units if
      123 words
    • 159 24 Jul 10 Xterniqht 0.10 month 7/1. :-months 9/1. l-months 11/1. Overnight mode: 1/1. IS$ Offer 0.05 3/16 5/16 7/16 Bid 1 days I month > months 1 months d months months 12 months tAu 0.35 0.40 0.55 0.70 1.00 1.50 1.70 Offer 0.25 0.30 0.35 0.50 0.80 1.20
      159 words
    • 11 24 Jul 10 STI IIMSCI Jul 279.3 279.7 278.2
      11 words
    • 20 24 Jul 10 Bid Offer -month 1.4604 1.4619 1.4605 1.4620 {-months 1.4605 1.4620 i-months 1.4606 1.4622 Source: OCBC
      20 words
    • 60 24 Jul 10 lelivery lonth Opening Range Sett Av Price Price Hii Vol Open Done Position Low \ug09 2053 2030 2063 2021 908 7902 Sep 09 2040 2010 2058 2002 7908 ***** .ct 09 2039 2015 2057 2005 3332 9784 tov09 2051 2028 2060 2015 799 5514 Total o/p:
      60 words
    • 296 24 Jul 10 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep09 Dec09 Mar10 Jun10 99.4600 99.2750 99.0950 98.8150 8881 6468 3317 3045 EUROYEN TIBOR FUTURES Sep09 99.505 99.510 Dec09 Mar10 Jun10 Sep10 DedO 99.455 99.455 Mar11 Jun11 99.505 99.450 99.505 99.530 99.545 99.530 99.475 99.430 99.345 99.285
      296 words
    • 183 24 Jul 10 (UBBER Futures (Closing prices) ISS 3 (US cents/kg) /lonth High Low Close Sett Volume (lots) O/l lots) Aug 09 166.0 >ep 09 3ct09 162.1 Nov 09 162.0 Dec 09 162.0 Ian 10 166.0 162.1 162.0 162.0 166.0 164.0 162.1 162.0 162.0 163.0 80 10 10 10
      183 words
    • 86 24 Jul 10 'eriod Issue code Maturity Yesterday's Bid Hii Day's |h Low l-Month BQ*****Z 08.10.09 -Year BY*****W 03.05.10 0.24 0.35 30VERNMENT BONDS 'eriod Issue Coupon Maturity code rate Close Bid His Day's igh Low !-Year NX*****H 3.625 i-Year NX*****F 3.625 '-Year N*****0S 2.875 0-Year NX*****W 2.500 5-Year NY*****X
      86 words
    • 104 24 Jul .0 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 09 1128.25 1110.50 1137.00 1072.25 Aug 09 1044.75 1047.50 1057.50 1015.00 Sep 09 971.75 973.00 981.00 944.50 Nov 09 917.00 916.00 924.00 888.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jul 09 32.70 32.58 32.72
      104 words
    • 75 24 CRUDE OIL PRODUCTS Jul 9 origin) ./barrel Close Cham irent blend (1-Mth F) 60.50 -1.01 VTI (Near Mth) 60.36 0.21 .ubai (1-Mth F) 61.54 -0.87 "apis blend 66.85 -0.90 i/linas 63.30 -0.95 >RODUCT JSS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 59.50 68.85 -0.91 -1.3! USS/barrel )pec Oil Basket Price
      75 words
    • 466 24 Jul 10 AS CS Rmb Euro HKS Ind Rs Rl Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound USS Australia 0.906 5.321 0.560 6.035 37.972 79.004 0.722 9.998 2.786 1.241 63.784 37.559 1.138 6.368 0.848 25.731 26.544 0.478 0.779 Canada 1.104 5.874
      466 words
    • 70 24 Jul 10 mth 0.***** 0.***** mths 0.***** 0.***** 6 mths 1.***** 9 mths 1.***** 12 mths 1.***** mths 0.***** 0.***** mths mths 2 mths 0.***** 1.***** 1.***** 0.***** 0.***** 0.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs 1.***** 4yrs 2.***** 5yrs 2.***** 7yrs 2.***** 10yrs 2.*****
      70 words
    • 149 24 Jul 10 .urrencies Bid Offer Bid Offer >$/US$ to one unit of foreign currency: Australian dollar 1.1368 1.1387 0.7785 0.7790 "anadian dollar 1.2553 1.2568 0.8596 0.8598 luro 2.0322 2.0345 1.3916 1.3919 IZ dollar 0.9159 0.9172 0.6272 0.6275 jterlini 2.3771 2.3798 1.6278 1.6281 IS dollar 1.4603 1.4617 >$/US$
      149 words
    • 137 24 Jul 10 /oz) Jong Kong 914.10 911.70 915.10 912.70 Jul 10 Jul 09 911.10 912.20 (SS) Sellini Bui 'im .ondon 1 oz 1500.14 1354 UBS GOLD LUNAR KINEBAR (SS) Selling Buying Source: Thomson Reuters lOgm SILVER $526.44 431 Selling Buying CAST BAR (SS) Jul 10 Buying Passbook Acct
      137 words
    • 65 24 Jul 10\ minimum, 99.7 jrity (US$/tonne) h Close Previous :ash 1543.60 months 1572.00 1556.25 1585.00 Copper, Grade A (US$/tonne) lash months 4857.00 4858.00 4883.50 4895.00 .ead (US$/tonne) :ash 1572.50 months 1596.00 1601.50 1625.00 lickel (US$/tonne) Oash I months *****.00 *****.00 *****.00 *****.00 'in (US$/tonne) :ash *****.00 *****.00 months
      65 words
    • 74 24 Jul 10 (£/tonne) Close Prev Hii ih/Low lul 09 1678 1671 1695/1668 iep09 1709 1700 1725/1694 Dec 09 1711 1706 1726/1699 War 10 1710 1703 1723/1701 IOFFEE (US$/tonne) Close Pev High/Low lul 09 1350 1339 1359/1336 iep09 1362 1352 1375/1343 Mov09 1384 1375 1397/1367 SUGAR (US tonne) White Close
      74 words
    • 2384 24 BONDS, WARRANTS EXTENDED SETTLEMENT Fel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Disc Gear- Mths ing Left Asia-Pacific Strategic W*****6 4 unch 300 1 15 6 4.50 58 >036 Advance SCT Ltd W*****9 0.5 1 87 1650 10.00 13 Allgreen Prop.ES.0907 98 8 AscendasReit.ES.0907 167 S092
      2,384 words

  • Page 25 Advertisements
    • 2901 25 Shipping Times M KPP fcl WAN HAI INTERNATIONAL PTE LTD UEN: *****4695 M m^jj^^V RV _^_S JBHM^lJi^riMjiwljlf VTr.\ IAfAU MAI lIMFC TEL *****588 (KLINES) FAX:6224H63 I'a 11-f* 11 1 M fiTw^lH B!>5!i>H!!>!!lB=HBWlllrB H»*nlnWWll^9ffiHWPM I W/AN HAI INt J FKL TEL: <03| *****888 FAX: (03| *****253 PEN TEL: <04) *****00 FAX:
      2,901 words

  • Page 26 Advertisements
    • 3547 26 7^VHBE9B|^S9IH^I P E EASTERN CAR LINER, LTD I[@ SJUJ r///« lif——— SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS WEEKLY EXPRESS SAILING SCHEDULE AMX SERVICE Conne.fng ECL Sv. via MALTA TSffgST^ VOY _RoalKH_ Llllinq(,KT)_ m^_ ____m__ KUC XX WRA <La m:lemi i i;mi«in E ß.. I.:. <LL lI.IRIHERII <lID WEMERIIIIIDMIIICQ
      3,547 words

  • BizIT
    • 677 27  -  AMIT ROY CHOUDHURY EDS official notes HP's acquisition of EDS has boosted capabilities By THE integration of EDS with the world's biggest IT company, Hewlett-Packard (HP), has been a positive development for the Singapore government's ongoing mega outsourcing contract, a top EDS official said.
      677 words
    • 432 27 Reuters (BRUSSELS) The European Union needs new rules for Internet downloads that would make it easier for people to access music and films without resorting to piracy, the bloc's telecoms chief said. Mapping out the priorities for the EU's executive arm over the
      – Reuters  -  432 words
    • <what's up>
      • 55 27 ENTERPRISE software firm Micro Focus has appointed David Taylor as its president for Asia-Pacific and Japan. The industry veteran, who was previously the managing director of Indigo Pacific in Sydney, will be based in Singapore and will report to Marc Andrews, executive vice-president, global sales
        55 words
      • 90 27 WEB 2.0 tools will be powering local charity event Run for Hope for the first time this year. To boost its productivity, the event's 30 staff-strong organising committee has tapped Socialwok, a Singapore-developed collaboration and social networking platform that combines Facebook-like features and robust
        90 words
      • 77 27  -  ONG BOON KIAT PALME Asia, a tradeshow held for the professional audio, lighting, audio visual and systems integration industry, will be held from July 16 to 18 at Suntec Singapore International Convention and Exhibition Centre. Some 10,000 attendees are expected to throng the annual event
        77 words
    • 610 28 IDA says it has fortified the Republic's cyber defences in preparation for potential online attacks, reports WINSTON CHAI SINGAPORE'S standing as a wired nation and regional financial hub makes it an attractive target for cyber terrorism and there are early warning signs that the crippling online
      610 words
    • 80 28 In 1998, Portuguese hackers defaced some Indonesia Web sites with "free East Timor" appeals. In 2008, some Chinese hackers hacked into CNN's Website in response to Western protests during the Olympic torch relay. Last year, Georgia's Internet infrastructure was shut down by DDoS attacks after the country was
      80 words
    • 84 28 SEEN on the facade ofVivoCity over the weekend: 'Touch the Future, Now', a high-tech light show extravaganza showing the illustrations and interpretations of the future from five local artists, Brian Chia, Soh Eeshaun, Ben Qwek, Neo Ann Gee and Michael Ng. Hewlett-Packard has partnered them to
      'ARTHUR LEE  -  84 words
    • 473 28  -  AMIT ROY CHOUDHURY By i A NEW study shows that just over 59 per cent of Singapore companies are increasing their investments to build new business applications based on Web2.o and other social networking technologies. Patrick Chan, chief technology advisor for IDC Asia-Pacific's
      473 words
    • <what's new>
      • 103 28 SONY Singapore has launched the AVCHD Memory Stick Handycam HDR-CXS2O, the latest addition to its range of full high definition (HD) camcorders and a successor of the Handycam HDR-CXI2. Featuring 64G8 of internal memory, this 12-times optical zoom camcorder can store up to nearly 27 hours
        103 words
      • 93 28 MOBILEONE (Ml) and Nokia have joined hands to offer the Nokia Messaging service to deliver push e-mail to Ml customers. The new Ml service supports popular e-mail services like Yahoo, Hotmail and Gmail, as well as services from local Internet service providers like Pacific
        93 words
      • 119 28 TAIWAN'S ASUS has launched the G5l, a 15.6-inch powerhouse gaming notebook with a raft of high-end technologies, including Creative Technology's EAX and CMSS audio technologies, and the nVidia GeForce GTX 260 M graphics processor. It also wows with the generous use of backlighting, which illuminates its keyboard
        119 words
      • 95 28  -  ONG BOON KIAT HEWLETT-PACKARD has launched the Scanjet N6350, a flatbed network colour scanner that can scan up to 500 pages per day. Aimed at businesses and users with heavy scanning needs, the N6350 offers a maximum optical resolution of 2,400 dots per inch (dpi) and
        95 words
    • 309 28  -  BRANDON CHEW Reports by SINGAPORE gaming developers should look into niche and untapped areas in order to stand out in the saturated electronic gaming industry. This point was made by several experts interviewed by BizlT at the recently held The Games Xpo
      309 words
    • 109 28 A PERCEPTION shift is needed to attract investors to the electronic gaming industry, according to Kirn Hyoung Seok, president and chief executive of World Cyber Games (WCG) Inc. There is a stereotype that electronic games attract only young males, and this idea of a limited market could
      109 words
  • Page 27 Advertisements
    • 2563 27 '^^&gt;/^ X^l V^&gt;/ X X^-^^-LIJ Toll free: 1800-289-8822* Email: notices@sph.com.sg www.cats.com.sg IN THE MAHER OF INTHEMAnEROF li THE COMPANIES ACT, CAP. 50 THE COMPANIES ACT, CHAPTER 50 AND AND IN THE MAHER OF INTHEMAnEROF ECGC PTE LTD TFS NETWORK (SINGAPORE) PTE. LTD. teSTS (in^em^e^vSlunta'ry addvalue (IN MEMBERS' VOLUNTARY WINDING UP)
      2,563 words