The Business Times, 22 July 2009

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Total Pages: 28
1 28 The Business Times
  • 19 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.COm.sg Sffll A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA(P) 197/08/2008 Wednesday, July 22,2009
    19 words
  • 603 1  -  RONNIE LIM JTC calls for feasibility study on 20-hectare Kent Ridge project beneath Science Parks By [SINGAPORE] The term "underground economy" has taken on a whole new meaning as Singapore pushes beneath the land surface to house R&D laboratories and data centres: it proposes
    Singapore Science Park  -  603 words
  • 761 1  -  SIOW LI SEN Ho Ching to stay on; Temasek cites strategic differences with CEO-designate By [SINGAPORE] Barely five months after he was introduced as the man who would continue Temasek's evolution into a truly global company and two months before he was to
    REUTERS  -  761 words
  • MARKETS DIGEST
    • 48 1 uesi lay lange 1 COMP 1,134.70 -4.55 MKKEI 225 9,652.02 +256.70 IANG SENG 19,501.73 -0.64 ;et index 609.83 -3.84 JAKARTA COMP 2,146.55 MANILA COMP 2,593.51 +40.20 +5.60 ;eoulcomp 1,488.99 +10.48 ;henzhenb 535.23 -9.13 IUMBAI IND 15,062.49 -128.52 12 noon EDT Cham )OW 8,837.50 -10.65 IASDAQ 1,897.10 -12.19
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    • 29 1 SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 15.825 TAIWAN 4.776 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.51 INDIA 11.75 Source: Bloomberg
      Bloomberg  -  29 words
    • 42 1 IS$ (S$ per US$) 1.441 (us$/ss >er 1.644 2.370 :URO (US$/S$/E) 1.422 2.050 Foreign currency per US$ 1$ 'EN 94.10 65.30 3.542 2.457 IK$ 7.750 5.377 !AHT 34.01 23.59 lUPIAH 10,050 6,972 lENMINBI 6.832 4.740 INDIAN RUPEE 48.27 33.49 1.227 0.852
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  • Page 1 Advertisements
    • 89 1 8 *****1 *****4 imperTeci ViM^lvJm Raw concrete, natural timbers, exposed bolt heads, 3%% iimperfections that make a home at Martin N0.38 I^o illi Developer: Kimmingston Pte Ltd Company Registration No: *****2412 C Developers License N0.:C0439 Expected Date of Delivery of Vacant Possession: June 2012 Expected Date of Legal Completion: ss?
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  • Page 1 Miscellaneous
    • 41 1 EXEC MONEY ?W NEWS ANALYSIS JAPAN t^l\ US ECONOMY Weighing the A new SGX CEO, Hazy future as poll v Outlook improving: equities equation I some old challenges countdown begins Bernanke BACKPAGE P Ay^ PAGE 2 PAGE 3 W-M PAGE 3
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    • 25 1 TRANSPORT HUB Spore invention makes waves PAGE 16 Andreas Sohmen-Pao on the outlook for LNG PAGE 17 Parallel imports shrink from double blow PAGE 19
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  • TOP STORIES
    • 839 2  -  ANDREW MARKS Gulf between camps widens as recent gains approach double digits By in New York THE strong second-quarter earnings so far, along with encouraging economic data and bullish calls by two previously notorious market bears, have spurred an impressive
      839 words
    • THREE-MINUTE DIGEST
      • 65 2 THE term "underground economy" has taken on a new meaning as Singapore pushes beneath the land surface to house R&D laboratories and data centres. There are moves afoot to get detailed designs and cost estimates for the project, which spans a 20-hectare geological formation
        65 words
      • 73 2 BARELY five months after he was introduced as the man who would continue Temasek's evolution into a truly global company and two months before he was to take over as its chief executive Charles (Chip) W Goodyear has quit. Ho Ching, who was
        73 words
      • 53 2 STRONG second-quarter earnings so far, along with encouraging economic data and seemingly bullish calls by two previously notorious market bears, have made investors confident and spurred an impressive rally in the US bourse in little more than a week. TOP
        53 words
      • 53 2 US Federal Reserve chairman Ben Bernanke yesterday said that the outlook for the long-suffering US economy appears to be improving and that the US central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit. TOP
        53 words
      • 69 2 CONTINUING weak demand for oil products, compounded by exports from new rival refineries, saw Singapore Petroleum Company chalking up a second-quarter net profit of just $43.5 million, a 75.8 per cent drop from the corresponding quarter last year. Revenue in the
        69 words
      • 54 2 TEMASEK subsidiary Singßridge International and the Chinese government will go ahead with plans to develop a "knowledge city" in Guangzhou, which will be bigger than originally thought. This was revealed at a ceremony marking the completion of a feasibility study on the project.
        54 words
      • 66 2 THE federal government has devoted US$4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall US economy, a watchdog report said on Monday. Under the worst of circumstances, the report said, the government's
        66 words
      • 46 2 THE suicide bomb attacks on two luxury hotels in Jakarta will not trigger a crisis in Indonesia as the government has measures in place to control terrorism, a senior adviser with the International Crisis Group said. MALAYSIA/INDONESIA, PAGE 12
        46 words
      • 71 2 DEUTSCHE Bank has fired two employees for their alleged role in a spying scandal being examined by German prosecutors, two people with knowledge of the situation said. The Frankfurt-based bank dismissed its German head of corporate security and its investor relations chief
        71 words
    • 659 2  -  CHEW XIANG NEWS ANALYSIS By [SINGAPORE] On Monday, the Singapore Exchange said that Swede Magnus Bocker would be replacing Hsieh Fu Hua as chief executive officer. The timing could have been better. Yesterday, Temasek Holdings said that incoming boss Chip Goodyear would not, after
      REUTERS  -  659 words
    • 615 3 Reuters US economic outlook improving but joblessness to stay high, says Bernanke [WASHINGTON] US Federal Reserve chairman Ben Bernanke yesterday said that the outlook for the long-suffering US economy appears to be improving and that the US central bank was carefully
      – Reuters  -  615 words
    • 806 3  -  ANTHONY ROWLEY By in Tokyo JAPANESE Prime Minister Taro Aso yesterday dissolved Parliament and launched Japan on what promises to be its biggest political change of course in more than half a century by calling a snap general election which his ruling
      REUTERS  -  806 words
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  • Page 3 Advertisements
    • 122 3 SINGAPORE EXP E RIE N C E AWA R D S THE BEST FOR THE BEST 1 Introducing the inaugural Singapore Experience Awards An exquisite gourmet dinner by a two-star Michelin chef. A global business conference for international leaders. An all-night dance fest on a beach. The new Singapore Experience
      122 words

  • COMPANY NEWS
    • 474 4  -  RONNIE LIM Factors include weak demand and exports from rival refineries By CONTINUING weak demand for oil products, compounded by exports from new rival refineries saw Singapore Petroleum Company now a subsidiary of oil giant PetroChina chalking up a second-quarter net profit of
      AFP FILE PHOTO  -  474 words
    • 565 4  -  JOYCE HOOI THERE is a reason why men who are three feet tall do not pick fights with six-footers: the three-footers are painfully aware of their disadvantage in the height department. Even if they are foolhardy enough to "take it outside", as it were, they do
      565 words
    • 584 6  -  CONRAD TAN It will pay 2.45 US cents per unit for Q2, down from 2.8 a year earlier By FIRST Ship Lease Trust (FSLT) has cut its guidance for future payouts to unitholders to retain cash for repaying its debts, the latest sign of
      584 words
    • 272 6 OCBC Bank is donating another $2.5 million to the Singapore Children's Society (SCS) over five years. The donation pledged is for the period 2009 to 2013. This raised OCBC Bank's donation to the society to $5 million over 10 years. The first $2.5
      272 words
    • 443 6  -  CHEWXIANG Move is to enable better management of internal resources By TMC Education Corp has changed its financial year end from Dec 31 to June 30. The company blamed the traditional year-end crunch for auditors as most listed companies end their financial
      443 words
    • 331 6 Group posts 11.4% rise in Q2 net profit to $17.7 million FRAGRANCE Group says it intends to launch at least another six residential projects with about 480 units in the second half of this year. It said this in
      FILE PHOTO  -  331 words
    • 582 9  -  OH BOON PING Substantial owner plans to raise stake through open market purchases By THE stakeholder at the centre of the Asia Water Technology (AWT) saga says that he intends to take over the company by buying more shares in the open market. Kareti
      582 words
    • 492 9  -  JOYCE HOOI But it falls below global median score in ÜBS, Governance Metrics report By SINGAPORE topped the Asian region in the latest corporate governance report issued by ÜBS and US-based Governance Metrics International (GMI), but fell below the global median GMI score. On a
      BLOOMBERG  -  492 words
    • 238 9 SPH Magazines has won 10 international awards for several of the titles it publishes. The magazine unit of Singapore Press Holdings picked up various awards for editorial and design excellence. SilverKris, the travel magazine of Singapore Airlines, won a Grand Award for design and
      238 words
    • COMPANY BRIEFS
      • 53 9 ALLIED Technologies warned that it would report a second-quarter net loss after the group suffered "significant foreign exchange losses". Most of these were due to unrealised revaluation losses due to the weakening of the US dollar and Vietnamese dong against the Singapore dollar for inter-company
        53 words
      • 84 9 CHT (Holdings) has written to its syndicated-loan creditors to propose a three-month stay on any claims or legal action on the sums that it owes them, in reply to a letter that they sent the firm on July 14. If they agree, CHT promised
        84 words
      • 50 9 CHINA Enersave said that two of its subsidiaries, Hivern Investments and Renewable Energy Holdings (REH), have been placed under judicial management. An application by Phillips Ventures Fund 2 to enforce their security and to appoint a receiver over REH's shares in Hivern was withdrawn.
        50 words
      • 100 9 CITYNEON Holdings has applied to the Singapore Exchange for a further extension of time to restore its public float to at least 10 per cent of its issued share capital to comply with listing rules, after the most recent deadline expired yesterday. The firm said that
        100 words
      • 92 9 SINGAPORE Medical Group, which provides specialist health care services, said that its initial public offer of 25.6 million placement shares at 21 cents each had received strong demand from financial and corporate institutions. Some 15.7 million of the placement shares have been allocated to institutions
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      • 92 9 THE board of Capitaßetail China Trust Management, the manager of Capitaßetail China Trust (CRCT), announced some changes. Kee Teck Koon and Olivier Lim have both resigned as directors. Lim Ming Van, chief executive of The Ascott Group and deputy chairman of Capita Land's China executive
        92 words
  • Page 4 Advertisements
    • 553 4 SOUND GALLERY HUP SENG METAL CRAFT (PTE) LTD I A 'W^ A w V www.hupsengmetal.com Stockist for A *****4 A *****6 Stainless Steel Tubes, Bars, Rods. Elbows etc r^ Specialises in Round Tube/Pipe Mandrel Bending V^^^- m At the newly extended 6,000 square feet JBL Sound Gallery, we seek to
      553 words

  • Page 5 Advertisements
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      123 words

  • Page 6 Advertisements
    • 509 6 TRUST FIRST SHIP LEASE TRUST (a business trust constituted on 19 March 2007 under the laws of the Republic of Singapore) Managed by FSL Trust Management Pte. Ltd. ("the Trustee-Manager") NOTICE OF BOOKS CLOSURE DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of
      509 words
    • 82 6 I The Ultimate Living! P^^^^o 5 Balmoral KI_TfIND THE ONES rij\ t; r J THAT FIT! I 85 Luxurious Freehold Units (2/3/4 Bedrooms/Penthouses) C^ 1 I Lush greenery of Goodwood Hill >fH Call 1800 289 8822 or email \/-> /^fei I Within Ikm to Elite Schools SCGS and ACS Barker
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  • Page 7 Advertisements
    • 139 7 I; hHHH^HHHhHh America"'^" Merrill Lynch GLOBAL CORPORATE INVESTMENT BANKING GLOBAL MARKETS "Bank of America Merrill Lynch" is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America
      139 words

  • SINGAPORE MARKETS
    • 886 8  -  OH BOON PING CURRENCIES ASIAN currencies were little changed yesterday, after the US Federal Reserve signalled a tightening of monetary policy to prevent inflation from accelerating. The Korean won traded at 1,249.4 per US doUar in the afternoon from 1,250.1 a day earlier,
      886 words
    • 101 8 Up Down Unch Up Down Unch Up Down Unch lulti Ind 5 7 5 0 0 0 5 7 5 lanufacturing 47 66 57 14 49 71 71 Commerce 17 34 19 20 37 28 'pt/Stor/Comms 15 17 11 15 19 12 :inance 11 11 12 11
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    • 105 8 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 23,714 23,714 70,954 70,954 lanufacturing 334,025 100,052 434,077 187,352 4,294 191,645 Commerce 177,696 13,290 190,986 122,306 5,262 127,568 ■pt/Stor/Comms 204,931 1,642 206,573 280,553 360 280,913 :inance 34,578 30 34,608 265,840 265,841 Construction 179,213 37,288 216,501 29,936 574 30,510 ■roperties
      105 words
    • 101 8 lapitaLand 3.760 -0.050 lapitaMall 1.510 -0.030 jtyDev 9.830 +0.110 lomfortDelGrc 1.420 losco Corp 1.210 -0.020 IBSGrp 12.140 -0.220 :&N 3.900 -0.070 ienting SP 0.755 -0.005 iolden Agri 0.365 -0.010 IK Land 3.650 +0.030 IMH 27.520 +0.240 ISH 15.140 lardineC&C 20.300 -0.060 leppel Corp 7.370 +0.220 IOL
      101 words
    • 770 8  -  CONRAD TAN Technology sector DMG PARTNERS SECURITIES, July 21 THE US-based bellwethers, including Intel, IBM, and most recently Texas Instruments, have reported results that beat street expectations and, more importantly, projected a better Q3 2009. While we are positive on the semiconductor space, the PC makers have seemingly
      770 words
    • 501 8  -  R SIVANITHY STOCKS THE recent upward march in equities ran into a bit of resistance yesterday when a bounce in Hong Kong reversed in the afternoon session, coinciding with the weakening of the US futures market. These developments suggested a weak Tuesday for
      501 words
    • 4 8 DAILY
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    • 63 8 Jul 21 VALUE CLOSE IT OB/OS 715.00 -38.0C IT CADI -*****.00 -44.0' IT 10-day MA -*****.00+71.01 TSE ST Mid Cap 553.34 +2.6, TSE ST Small Cap 455.64 -3.2, TSE ST All Share 598.87 -0.1 TSE ST China Top 251.20 -1.01 TSE ST China 245.72 -0.7: TSE ST
      63 words
    • 61 8 VOLUME Golden Agri 151,924,000 UniFiber 102,630,000 Jade Tech 64,949,000 Gentinq SP 59,040,000 EuNetworks 51,426,000 China Honqxinq 49,457,000 Ocean us 49,213,000 Keppel Land 41,114,000 Sapphire 37,059,000 Sing Tel 33,880,000 VALUE(S) DBS Grp 130,526,620 Sing Tel 111,434,125 Capita Land 103,524,014 Keppel Land 101,794,290 Yanlord 62,252,080 Golden Agri 57,110,835 Keppel
      61 words
    • 107 8 CLOSE UP 9410 201.7 iBXT Ni 10US$ 1. iBXT MSKorea 10US$ 3729 177.2 3.. fxor Emen Ikts 1 822 49.0 4. IMH 2752 34.6 0. Thailand 10US$ 387 33.1 6. LD 10US$ 9338 25.9 0., iBXT MSTaiwan 10US$ 1387 24.5 1.. :50 10US$ 339 23.1 5.' Con 737 22.0
      107 words
    • 109 8 iBXT S&P Short 10US$ CLOSE DOWN 6563 -74.9 -0.8 iBXT FTVietnam 10US$ 4158 -44.7 -0.7 iBS RBeCW*****8 15 -26.5 -63.9 iBS Gr| 1214 -22.0 -1.i ilA.ES.0907 1364 -18.0 -1.3 China H 10US$ 1502 -17.3 -O.i ilA 1368 -16.0 -1.2 IOB 1550 -10.0 -0.6 ;GXDBePW*****9 24 -8.0 -25.0 lain irm
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    • 86 8 Vhere S! i$ stands Jul 21 CHNG CLOSE FR Jul 20 YR2009 S$ LOW S$ HIGH iss 1.4410 -0.17 1.5579 1.4308 iuro 2.0477 -0.03 2.0732 1.9150 'ounds 2.3647 0.41 2.4051 2.0356 1.1714 -0.19 1.1816 0.9453 ren* 1.5297 -0.40 1.7278 1.4831 lupiah* 0.***** -1.21 0.***** 0.***** !aht* 4.2345 -0.11 4.3390
      86 words

  • Page 9 Advertisements
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  • SINGAPORE NEWS
    • 521 10  -  CHEN HUIFEN End of feasibility study paves way for commercial negotiations By TEMASEK subsidiary SingBridge International and the Chinese government have moved one step forward in their joint plan to develop a "knowledge city" in Guangzhou, which will be bigger than originally thought.
      521 words
    • 313 10  -  JOYCE HOOI By FORGET the "flight to quality" in turbulent times locals have gone one better and are doing nothing with their money. After seeing the bottom fall out of financial markets, more high-income earners here are saving most of their cash
      313 words
    • 557 10  -  CONRAD TAN The bank invested $10m setting up the branch By CHINATRUST Commercial Bank, Taiwan's biggest credit-card issuer, has opened a branch office offering wholesale banking services as part of aggressive expansion beyond its highly competitive home market. James Chen, president of the bank's parent company,
      557 words
    • 236 10 COME mid-August, Standard Chartered Bank, Singapore will have a new chief executive. Ray Ferguson will replace Lim Cheng Teck as chief executive, in addition to continuing his role as regional chief executive, Southeast Asia. Mr Lim will in turn occupy the position of chief
      236 words
    • 295 10 TRADE ministers of the Asia-Pacific Economic Cooperation (Apec) economies agreed yesterday that progress needs to be made on a broader front, through more flexible approaches, if the Doha Round's 2010 deadline is to be met. Singapore Minister for Trade and Industry Lim Hng Kiang,
      295 words
    • 488 10  -  CONRAD TAN By HSBC is offering customers of its declining-rate-spread home loans who sell their houses a chance to continue benefiting from lower interest rate spreads, if they take out a new loan with the bank. The latest tweak to its
      488 words
    • 190 10 CPA Australia, one of the world's largest professional accounting bodies, has appointed Alex Malley as its new chief executive officer. Mr Malley, who is currently CEO of the Urological Society of Australia and New Zealand, was previously president of CPA Australia. He
      190 words
    • SINGAPORE ROUNDUP
      • 51 10 NTUC Fair Price Foundation has donated $200,000 to the Food From the Heart (FFTH) programme to help some 1,700 needy families meet daily needs. The foundation also rallied staff volunteers to participate in FFTH's Goodie Bag Programme to pack and distribute essential items to needy
        51 words
      • 41 10 LINDA Darling-Hammond of Stanford University will receive an honorary Doctor of Education degree from President SR Nathan, who is also chancellor of Nanyang Technological University. Prof Darling-Hammond currently heads US President Barack Obama's education transition team.
        41 words
      • 60 10 EIGHT polytechnic students have become the pioneer recipients of the Home Team Merit Award (Polytechnic) and HOME Award (Polytechnic) administered by the Ministry of Home Affairs. The ministry will sponsor their three-year full-time diploma course at any of the five local polytechnics and they will
        60 words
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  • ECONOMY WATCH
    • 822 11 -AP At the worst, the govt's maximum exposure could total nearly USs24t [WASHINGTON] The federal government has devoted US$4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall US economy, a watchdog report
      -AP; AFP  -  822 words
    • 437 11 Bloomberg [NEW YORK] Venture capital investment fell 51 per cent in the second quarter as firms coped with the recession and a drought in initial public offerings, bringing funding for start-ups to the lowest level in 15 years. Venture capital firms invested U553.67
      – Bloomberg  -  437 words
  • Page 11 Advertisements
    • 264 11 The all-new Honda Odyssey. Surround your family with style and excellence. The new generation Honda Odyssey is an accomplishment of style and excellence never before seen in a family car. Its sophisticated and dynamic looks are combined with an improved interior, unique theatre style seating and electronically operated 'magic' seats
      264 words

  • MALAYSIA/INDONESIA
    • 519 12 Bloomberg Govt has measures in place to control terrorism: International Crisis Group [JAKARTA] The suicide bomb attacks on two luxury hotels in Jakarta will not trigger a crisis in Indonesia as the government has measures in place to control terrorism, a senior adviser
      – Bloomberg  -  519 words
    • 542 12  -  S JAYASANKARAN By in Kuala Lumpur IN a posting on his blog late Monday, former premier Mahathir Mohamad appeared to criticise Prime Minister Najib Razak's economic liberalisation by coming out with a spirited defence of the country's affirmative action policies and claiming
      542 words
    • 434 12 -Reuters [JAKARTA] Indonesia's tax chief Darmin Nasution's move to the No 2 post at the central bank this month could well usher in a more dovish policy stance at the monetary authority and shift market sentiment more towards expecting deeper rate cuts. In
      -Reuters  -  434 words
  • Page 12 Advertisements
    • 999 12 money- if I c^v u ocks tot HHSbH SGX must reach m \\rjl to potential 'drokrr J^Tl^^^^^^H Pressured by financial 'T^^JZ^^^v,^- fSS I crisis, listed companies 0^;:~ twhlcha™ jft^'f v f may just do minimum tto^*rCrS"^K fa^fr^S' I M.-^mt.-:n^ K-quirirm them to release si.-,-*!,...}, J ls their profit mid loss
      999 words

  • GREATER CHINA/INDIA
    • 568 13 Bloomberg Valuations will be more reasonable as market starts discounting earnings [MUMBAI] India's stock market rally may halt because prices reflect the current economic recovery and are no longer cheap, HSBC Holdings pic said. A breather is likely in the next couple
      – Bloomberg; REUTERS  -  568 words
    • 391 13 -AP World's biggest IPO since Visa's listing in March 2008 [BEIJING] The Chinese company that built the "Water Cube" swimming centre for the Beijing Olympics said yesterday that it hopes to raise up to 50.1 billion yuan (5510.58 billion) in the world's
      -AP  -  391 words
    • 155 13 Reuters [MUMBAI] Indian policymakers may raise foreign investment limits on government debt securities, the Economic Times reported yesterday, citing an unnamed official close to the matter. Foreign investment in government debt is capped at US$5 billion and at US$l5 billion in corporate
      – Reuters  -  155 words
    • 188 13 -AFP [BEIJING] China's US$2OO billion sovereign wealth fund has bought 1.1 per cent of prominent British alcoholic drinks maker Diageo in a move to diversify its investments, the Financial Times said yesterday. The deal gives China Investment Corp (CIC) a stake worth £221 million
      -AFP  -  188 words
    • 154 13 -AP [BEIJING] Profit at China's top state-owned companies fell 26.2 per cent in the first half of the year but the decline is easing amid massive government stimulus spending, a state news agency reported yesterday. The 136 banks, airlines, oil producers and other
      -AP  -  154 words
  • Page 13 Advertisements
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      172 words

  • ASIA-PACIFIC/WORLD
    • 516 14 Bloomberg Frankfurt prosecutors are examining whether to open a probe [FRANKFURT] Deutsche Bank fired two employees for their alleged role in a spying scandal being examined by German prosecutors, two people with knowledge of the situation said. The Frankfurt-based bank dismissed its
      – Bloomberg  -  516 words
    • 271 14 Bloomberg [FRANKFURT] Total assets of sovereign wealth funds (SWFs) declined almost 17 per cent, or US$6OO billion, from the end of 2007 to this year, as the global financial crisis hammered share prices, Deutsche Bank says in a report. The value of equity, bond,
      Bloomberg  -  271 words
    • 471 14 Reuters He now says China, developing nations should help pay cost [WASHINGTON] China and other developing nations must help "pay" for reducing greenhouse gas emissions blamed for global warming, US Commerce Secretary Gary Locke said on Monday, backing off from a recent statement that
      – Reuters; REUTERS  -  471 words
    • 274 14 -AFP [LONDON] Britain's financial watchdog has warned banks they face heavy financial penalties if they agree to pay their executives a guaranteed bonus for more than a year, newspaper reports said yesterday. The Financial Services Authority (FSA) has written to 40 chief executives
      -AFP  -  274 words
    • 355 14 -NYT Roger Jenkins is planning to set up firm to advise SWFs [WASHINGTON] Roger Jenkins, the Hollywoodconnected Barclays executive who last year helped preserve the bank's independence by securing a vital investment from the Persian Gulf, is planning to establish a firm
      -NYT  -  355 words
    • 226 14 Reuters [ZURICH] Demand for Swiss watches tumbled by nearly a third in June as the wealthy curbed their spending on pricey, gold timepieces. The most expensive watches, costing more than 3,000 Swiss francs (554,000) at export price, were hit hardest with the number
      Reuters  -  226 words
  • Page 14 Advertisements
    • 1624 14 A [BATS IN THE MATTER OF THE THE COMPANIES ACT, IN THE MATTER OF COMPANIES Aa, CAP. 50 CAP. 50 AND THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF AND IN THE MATTER OF ROMAR VENTURECOM PTE LTD IN THE MATTER OF SPINNAKER SHIPPING LOGISTICS UEN/COREGNO: *****2091K MACHI
      1,624 words

  • WORLD
    • 513 15 Bloomberg It has US$l Ob debt maturing through next year, mounting loan defaults [NEW YORK] CIT Group's US$3 billion financing pledge from bondholders may fail to shield the commercial lender from about US$lO biUion of debt maturing through next year, mounting loan defaults
      – Bloomberg  -  513 words
    • 479 15 -LAT [WASHINGTON] In February, when Congress approved President Barack Obama's plan to stimulate the economy, transportation projects were supposed to be among the fas-test-acting pieces of the US$7B7 billion package. All 50 states moved quickly to qualify for their share. But since then, the pace
      -LAT; AP  -  479 words
  • Page 15 Advertisements
    • 826 15 SINGAPORE MEDICAL GROUP SINGAPORE MEDICAL GROUP LIMITED (Company Registration No.: *****3187W) (Incorporated in the Republic of Singapore on 10 March 2005) Placement of 25,600,000 Placement Shares comprising 8,550,000 New Shares and 17,050,000 Vendor Shares at 550.21 for each Placement Share, payable in lull on application. The Board of Directors of
      826 words
    • 1571 15 V*^L k AT^^T>T/^T^ t~ Toll free: 1800-289-8822 w |\1 II If I"" 1 Email: notices@s Ptlcom- s 9 JL Vfcrf/ JL JL^»> I i 3 www.cats.com.sg BALANCE SHEET (a) Capilal: i^in™) Items 11.03.2009 31.03.2008 OOP's omitted 4. J^_ AsaT i) CRAR: 31 03 2009 31 03 2008 Basel 13.29% 12.97%
      1,571 words

  • TransportHUB
    • 725 16 Reuters Their problems include uncertainty over the pace of global recovery and fleet oversupply [LONDON] UNCERTAINTY over the pace of world economic recovery and fleet oversupply are set to dog the sea freight container sector into 2010, spelling more pain for ship companies carrying manufactured
      – Reuters; REUTERS  -  725 words
    • 361 16 Firm claims he was paid monthly by Charter Shipping ZIM Integrated Shipping is suing its former area president for Asia for allegedly breaching his contractual and fiduciary duties by taking consultancy fees from a competitor, accepting an US$BO,OOO loan and failing to disclose rebates
      361 words
    • 604 16 Reuters [BEIJING] China's marine fuel market looks poised to double in size in the next few years to become Asia's second largest, but it will be cold comfort for traders watching dwindling demand for similar quality fuel oil from the
      Reuters  -  604 words
    • TRANSPORT STOCKS
      • 106 16 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KWentures Keppel Corp MTQCorp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship Star Cruises 0.50 0.28 1.21 0.56 1.32 0.66 0.05
        106 words
      • 36 16 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings Nepline Bhd PDZ Holdings 0.95 8.65 8.60 3.18 2.76 unch 0.09 unch unch unch unch unch unch unch 28" 47S 79! 43( i 180S
        36 words
      • 12 16 ■oo ■recious Ship Jegional Cont 15.80 9.70 -0.30 -0.25 209i 63i
        12 words
      • 11 16 '000 Doil iingamas Cont 35.60 1.10 0.45 79: unch 4642)
        11 words
      • 21 16 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 6.70 16.50 2.00 unch 0.10 0.25 unch unch 27S 168! 1(
        21 words
      • 14 16 Evergreen Marine ....19.05 :irst Steamship 47.10 ManHai Lines 15.45 0.55 -0.70 -0.05 1
        14 words
      • 41 16 '000 (awasaki Hvy Ind ..245.00 18.00 ***** (awasaki Kisen 363.00 3.00 545( Mitsubishi Hvy 368.00 9.00 ***** i/litsui Eng&Sbldg ..225.00 10.00 434( l/litsui Osk Lines 606.00 17.00 ***** Jippon Express 397.00 7.00 359: JipponYusen 402.00 3.00 547! 'iource: Thomson Reuters
        41 words
    • 1026 16  -  DAVID HUGHES STRAIT TALK By IT IS not often that I spend part of my weekend reading articles on keeping saltwater fish. In fact, it is unlikely to happen again. But I discovered an online aquatic journal that told me everything I needed to know about
      FILE PHOTO  -  1,026 words
    • TRANSPORT HUB: SHIPPING
      • 1104 17 And as the demand for cleaner energy grows, the need for LNG shipping will too, says ANDREAS SOHMEN-PAO HEN natural gas is cooled to minus 165 degrees centigrade, it takes on a different state. It liquefies and its volume shrinks by 600 times, making
        BLOOMBERG  -  1,104 words
    • TRANSPORT HUB: AVIATION
      • 811 18 -Reuters German airline has been playing hardball with sellers, regulators [FRANKFURT] Deutsche Lufthansa could turn an airline sector slump to its advantage by negotiating lower prices and more cost cuts out of acquisitions it agreed last year that threaten to hurt its shares. The German flagship
        -Reuters; REUTERS  -  811 words
      • 611 18 Bloomberg Law may be passed to allow them to get off delayed flights [WASHINGTON] US airline passengers who have spent hours stuck in airplanes on tarmacs may be heading for a victory in a two-year campaign for the right to get off delayed flights. A
        Bloomberg  -  611 words
      • 361 18 -AP [NEW DELHI] The Indian government threatened yesterday to take action against Continental Airlines after it emerged that former president APJ Abdul Kalam was frisked before boarding a flight to the United States. The Indian Parliament was in an uproar, with lawmakers condemning it
        -AP  -  361 words
      • 2703 18 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:
        2,703 words
    • TRANSPORT HUB: LAND
      • 507 19  -  SAMUEL EE LTA Mercedes is now third most popular parallel import marque, after Honda and Toyota By THE number of parallel imports (Pis) plunged in the first half of 2009, thanks to the surging Japanese yen and shrinking market. And an unlikely outcome is
        LTA  -  507 words
      • 631 19 -AP [WASHINGTON] Foreign companies that dominate the international highspeed rail industry are trying to cash in on the Obama administration's plan to pump billions of dollars into US rail systems to help stimulate the economy. The stimulus sets aside US$B billion for high-speed rail,
        -AP  -  631 words
      • 270 19 Bloomberg [MOSCOW] Russia's car market may contract 50 per cent this year from 2008 to 1.6 million units after unemployment rose, the ruble lost value against the US dollar and euro and car loans dried up, PricewaterhouseCoopers LLP said. The Russian
        Bloomberg  -  270 words
      • 538 19  -  SAMUEL EE The centre will also supply genuine parts for servicing By THE Nissan GT-R has sped into Singapore through authorised distributor Tan Chong Motor Sales and will be housed in a dedicated showroom created specially for it. The Nissan High Performance Centre has
        ARTHUR LEE  -  538 words

  • Page 17 Advertisements
    • 40 17 text-to-speech feature fc-f-ig^lsiil quiz game %%IB learn a phrase a day 3^3&^ useful links to learning Chinese I&R\W& M W Vv learn from Chinese songs !fc£:# i" 'd^^&r Bloggers sharing Ifg#£ V 9 V CLing Chinese Language i-n-g A \^W
      40 words

  • Page 18 Miscellaneous
    • 395 18 CRYPTIC CROSSWORD I Blissful round for a copper, if in charge (8) 111 5 Eleanor in front of company is ________^H uncontrollable nag (6) 8 Sailor initially protected by I I I I I ess crude officer on ship (6) __M II! I 9 Witty conversation about 10 I I
      395 words

  • Page 19 Advertisements
    • 115 19 Discover medical excellence and retail therapy under one roof Paragon Medical houses over 60 world-class specialists who are delighted to serve you with utmost attention, delivering standards that can only be exceeded by their medical precision. Experience medical exclusivity at its best, a perfect complement to unrivalled shopping enjoyment at
      115 words

  • EDITORIAL & OPINION
    • 472 20 THE just-concluded visit to India by US Secretary of State Hillary Clinton was billed as the start of what Mrs Clinton called "US-India 3.0" -the third phase of the relationship between the world's two largest democracies. In her characterisation, the first phase spanned the decades
      472 words
    • 852 20  -  STEVEN PHAN All you need is an excellent idea, a great team and realistic expectations of valuations By IN such challenging market conditions, you would be forgiven for thinking now is the time for survival, not growth. But historical data shows innovation will
      AP  -  852 words
    • 835 20 THE BOTTOM LINE FOR anyone living in India and witnessing the heady economic growth of the past five years, a niggling doubt remains about the sustainability of the current spurt. We have plodded too long at the 3.5 per cent "Hindu rate of
      835 words
    • 1184 21  -  THAM SAI CHOY The first step is to ensure awareness of the issues that contribute to fraud or which hamper the ability to deal with it By I ITH fraud an ever-present danger, the audit committee's (ACs) role can be daunting, requiring constant vigilance in the
      STOCK.XCHNG  -  1,184 words
    • 884 21  -  MATTHEW LYNN Bloomberg By YOU might think your summer vacation is nothing more than a week of lazing around, working out how some of those applications on your iPhone actually work, and getting reacquainted with your family. Not so. If you are smart,
      – Bloomberg; STOCK.XCHNG  -  884 words


  • SINGAPORE STOCKS
    • 8795 22 Transaction date: Jul 21 52-wks Tel |h Low Code Last Sale Vol Cooo) Hi: Day Last Quote )h Low Buyer Seller Div Gr Yld C'vr Net P/E M Cap Sinil Hi! Com| >ari] 9 3 3148 8Telecom 8.5 2.5 5834 A-Sonic 24 12 5000 ABRHIdgs 13 5.5 1938
      8,795 words
    • 1625 23 ligh Low Code Company Sale C000) High Low Buyer Seller C'vr P/E $mil 19 5 1181 s AAGrp !6.5 12 8538 t APStrategic 4 05 1501 s Advanced System 7.5 2 3480 t Adventus 25 8.5 3518 s Afor 12.5 2 1524 t Alantac 16 3.5 7814 t
      1,625 words
    • 440 23 52-Wk Tel h Low Code Last Sale Vol COOP) .u^Low Last Quote Buyer Seller Div GrYld C'vr Net P/E MCap Hii Comi Hii 110 100 6389 ABFSG Bond ETF 110 unch 877 427 CIMBAsean40 1OOUS$ US693 +6 249 149 DBS STI ETF 100 247 -1 3600 3534 DBXT
      440 words
    • 257 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
      257 words
    • 9443 23 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced FundlS 1.869/ AIGIF Spore Bond Fund/ A 1.292/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 0.99/ APS Alpha Fund (USD)!** 0.69/ APS Komaba Asset Mgt Pte Ltd APS Komaba Global Bond SGD 0.5138/ APS Komaba
      9,443 words
  • Page 22 Advertisements
    • 30 22 f Le maitre de I'horlogerie depuis 1*875 ~v T^^^jl V^^^^^ JULES AUDEMARS V^^^ ;~"~O<Nc. TEh B^lw COLLECTION '"1?' Iff MINUTE REPEATER, BL N> ■fe?J^T| P g^\ THE MELODY OF TIME
      30 words


  • FINANCE & COMMODITIES
    • 368 24 In local curr In S$ In US$ dy yr dy yr dy yr Index Change Change Change Change Change Change Jul 20 World Index Preliminary 714.7 0.7 5.4 0.4 7.9 1.0 7.1 EAFE Preliminai 678.7 0.9 4.6 0.9 8.7 1.4 8.1 Euroi Prelim inan 944.3
      368 words
    • 130 24 As at 9am Jul2l Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1620 1.1970 .an dollar 1.2940 1.3090 Euro 2.0370 2.0600 NZ dollar 0.9370 0.9580 iterlini ind 2.3680 2.3941 US dollar 1.4330 1.4490 Local dollars to 100 units of foreign currency:
      130 words
    • 175 24 Jul2l $S Offer Bid Overnight 0.10 1-monfli 7/16 2-months 9/16 3-months 11/16 Overnight mode: 0.10 US$ Offer 0.06 3/16 5/16 7/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months $Au 0.35 0.40 0.55 0.65 1 00 1.60 1.70 Offer 0.25 0.30
      175 words
    • 23 24 Jul2l ten >TI 2453 ilMSCI Jul 296.2 298.1 294.9 'aiwan Jul 252.5 254.3 253.5 Source: MF Global (S) He. Ltd
      23 words
    • 23 24 Jul 21 I SS Bid Offer 1-month 1.4405 1.4426 2-months 1.4405 1.4426 3-months 1.4405 1.4426 6-months 1.4406 1.4428 Source: OCBC
      23 words
    • 61 24 Jul2l KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Month Range Price Price Hi Low Vol Open Done Position AugO9 2185 2180 2188 2165 548 2760 SepO9 2182 2155 2182 2136 1994 ***** Oct09 2140 2143 2162 2128 8715 ***** Nov09 2154 2150 2161 2130 3304 9699 Total
      61 words
    • 279 24 Jul2l OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES SepO9 DecO9 Mar10 Jun10 99.4650 99.2600 99.0150 98.6500 7859 5346 4209 3555 EUROYEN TIBOR FUTURES SepO9 DecO9 Mar10 Jun10 Sep10 DedO Mar11 Jun11 99.490 99.525 99.540 99.520 99.465 99.420 99.335 99.275 ***** 3512 2591 1338 421 420 412
      279 words
    • 171 24 Jul 21 tUBBER Futures (Closing prices) !SS 3 (US cents/kg) flonth High Low Close Sett Volume (lots) O/l lots) <\ugO9 179.0 >ep 09 178.0 3d 09 MOV09 Dec 09 Ian 10 181.0 177.0 177.5 181.0 177.5 177.8 177.5 177.5 177.5 178.5 60 40 10 394 644 1012 922
      171 words
    • 84 24 Jul2l Period Issue code Maturity Yesterday's Bid Hi< Day's |h Low 3-Month BQ*****H 22.10.09 1-Year BY*****W 03.05.10 0.24 0.35 0.19 0.19 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year NX*****H 3.625 5-Year NX*****F 3.625 7-Year N*****0S 2.875 10-Year NX*****W 2.500 15-Year NY*****X
      84 words
    • 101 24 Jul2o SOYBEANS (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Aug 09 1033.00 1009.50 1034.25 1006.50 Sep 09 960.50 948.50 966.75 945.00 Nov09 923.00 923.50 940.00 912.00 Jan 10 930.00 931.25 946.25 920.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Aug 09 35.34 34.82 35.53 34.57 Sep
      101 words
    • 76 24 CRUDE OIL PRODUCTS Jul2o CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 65.76 1.05 WTI (Near Mth) 64.32 0.82 Dubai (1-Mth F) 64.89 2.28 Tapis blend 71.15 3.00 Minas 67.60 3.00 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene S1.55 73.72 2.23 3.74 US$/barrel Opec Oil Basket
      76 words
    • 462 24 Jul2l AS CS Rmb Euro HKS IndRsRu Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound us: lustralia 0.902 5.566 0.573 6.314 39.332 81.882 0.767 10.179 2.885 1.243 66.683 39.145 1.174 6.420 0.870 26.715 27.710 0.495 0.815 Canada 1.108 6.170 0.635 6.999 43.597
      462 words
    • 77 24 Jul2l (US$) (SS) 0.***** 0.***** 1 mth 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 1.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 1.***** 9mths 1.***** 12 mths 1.***** SWAP
      77 words
    • 157 24 Jul 21 Against SS Currencies Bid Offer Against US$ Bid Offer S$fUS$ to one unit of foreign currency: Australian dollar 1.1732 1.1756 0.8145 0.8150 Canadian dollar 1.3005 1.3030 0.9029 0.9033 Euro 2.0484 2.0515 1.4221 1.4223 NZ dollar 0.9436 0.9456 0.6551 0.6556 Sterlini md 2.3682 2.3720 1.6441 1.6445
      157 words
    • 139 24 Jul 21 GOLD (USS/oz) Jul 21 Jul 20 Hong Kong London 946.20 945.30 947.20 946.30 Jul20 Jul 17 948.40 937.70 949.40 938.50 Source: Thomson Reuters CAST BAR (S$) Jul 21 Buying Sellini Kilobar "47,120.66" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 5gm 10gm 20gm 50gm 100gm 1
      139 words
    • 70 24 Jul 20 iri iiuiii, yy.i (US$/tonne) Co Close Previous Cash 1683.50 3 months 1711.00 1681.25 1708.00 Copper, Grade A (US$/tonne) Cash 3 months 5338.75 5350.00 5312.50 5310.00 Lead (US$/tonne) Cash 3 months 1682.25 1705.00 1648.25 1670.00 Nickel (US$/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (US$/tonne) Cash
      70 words
    • 71 24 Jul2o :OCOA (Btonne) Close Prev Hii ih/Low SepO9 1808 1773 1831/1774 Dec 09 1818 1782 1840/1784 Mar 10 1817 1783 1841/1783 May 10 1811 1778 1827/1792 COFFEE (US$/tonne) Close Pev High/Low JulO9 1499 1438 1504/1481 SepO9 1513 1456 1535/1470 Nov09 1537 1476 1552/1486 SUGAR (US tonne) White Close Prev
      71 words
    • 2271 24 BONDS, WARRANTS EXTENDED SETTLEMENT Pel lode Company Last Sale Vol Conv Exer +or- ("000) Ratio Price Disc Gear- Mths ing Left Asia-PacificStrategicW*****6 3.5 >036AdvanceSCTLtdW*****9 0.5 Allgreen Prop.ES.0907 98 Ascendas Reit.ES.0907 167 xd 1 15 6 5.00 1 87 1358 12.00 58 13 3092 Asia Environment W*****4 0.5 1 38 75
      2,271 words

  • Page 25 Advertisements
    • 2945 25 m The Business Times Shipping Times A WAN HAI INTERNATIONAL PTE LTD UEN: *****4695 M A^t^^V E^^M mßnKn&GFlfflWnM V*Trr\ |jji| ■■>■■« TEL *****588 (14 LINES) FAX:*****163 1» 1^ II M IllHjll^B BjBIWIjjBWBBIWBWjBB \\^^tt I WAN HAI INt J FKL TEL: <03| *****888 FAX: (03| *****283 PEN TEL: <04) *****00 FAX:
      2,945 words

  • Page 26 Advertisements
    • 3421 26 r^VHEH9d^^I9IH! I linn eastern car liner, ltd inn itbtfti^ i |jf———i I specialize in roro heavy lift upto 450 tons WEEKLY EXPRESS SAILING SCHEDULE I I ■F BTWTTTTTT^7T3^^^I 1 1 1 I 1 1 1 1 1 r^^^^^^TTI!m!LSERVICE^ I VOY _Ro!ndKjj_ tlllinq<KT> --M-- _K"t XX _Bjl_ <l! i:i uxmm tmumERS
      3,421 words

  • EXECUTIVE MONEY
    • 948 27 -NYT The stocks that fare best are found in economically cyclical areas such as the tech, financial services and consumer sectors [NEW YORK] HICH investments are most likely to perform best in a bull market? Many investors have turned bullish in recent months, and,
      -NYT; STOCKX.CHNG  -  948 words
    • 468 27 -LAT-WP [BALTIMORE] All investors have seen their portfolios take a hit in this bear market. But will losses have a greater effect on younger investors, making them less likely to buy stocks in the future? Some academics think so. With little investing
      -LAT-WP  -  468 words
    • 1142 28 The dismal showing of equities in the 10 years to end-June has turned some investing ideas on their heads, reports GENEVIEVE CUA CONVENTIONAL wisdom says that if you have a time horizon of more than 10 years, the bulk of your portfolio should be invested in
      STOCKX.CHNG  -  1,142 words
    • 1273 28 With systemic healing now under way globally, opportunities in Asian credit markets remain strong THE Lehman Brothers collapse in September last year turned what was promising to be a bad economic downturn into a systemic crisis with the potential to rival the Great Depression. The resulting
      1,273 words
  • Page 27 Advertisements
    • 380 27 Call 6-222 6868 to find out AcCOUfltServe mOTG tOQSy. www.AccountServe.com.sg When faced with three black crows, it's best to turn and run. a < A V ••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••a A candlestick pattern that signals the end of an uptrend. Three Black Crows indicates that it may Why Open a SaXO account today?
      380 words