The Business Times, 19 September 2009
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2009-09-19
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The Business Times
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Title Section17 2009-09-19 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg SEPTEMBER 19-20, 2009 Ssl.oo MICA(P) 124/08/2009 Sf^l A SINGAPORE PRESS HOLDINGS PUBLICATION17 words
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Article, Illustration667 2009-09-19 1 Lee U- Wen - Lee U-Wen Two members campaign to waive monthly subscription fees for 'senior members', and hope other clubs will pick up on the generous gesture By leeuwen@sph.com.sg Singapore TWO members of the Singapore Island Country Club (SICC) have embarked on an ambitious attempt to667 words
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Page 1 Advertisements
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Advertisement10 2009-09-19 1 fjf.''' W^j^;^''^N^K^ NEW YORK LOS ANGELES DUBAI MOSCOW TOKYO SEOUL10 words
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Page 1 Miscellaneous
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Miscellaneous171 2009-09-19 1 W_f' <£■ FORMULA ONE I j^' the raffles conversation WEALTH T Jy' Countdown begins for \Wt^_ PAYPAL PRESIDENT Investing with WW/ luxury watch brands 4 L SCOTT THOMPSON 8-9 bated breath 30-31 OPEN SECRET Kickbacks common in F&B sector That's how business is done and it's not limited to Chinese171 words
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TOP STORIES
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MARKETS
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Article46 2009-09-19 2 KL COMP 1,221.20 +2.40 NIKKEI 225 10,370.54 -73.26 HANG SENG 21,623.45 -145.06 SET 713.67 +4.44 JAKARTA Closed MANILA 2,789.33 +17.36 KOSPI 1,699.71 +4.24 SHENZHEN B 523.09 -11.17 MUMBAI IND 16,741.30 12 noon EDT +30.19 Chanpe 12 noon EDT DOW 9,799.79 Change +15,87 NASDAQ 2,124.77 -1.9846 words
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Article30 2009-09-19 2 Bloomberg SINGAPORE 5,38 MALAYSIA 5,55 HONG KONG 5,00 INDONESIA 15,765 TAIWAN 4,776 JAPAN 1,475 KOREA 9,33 BRITAIN O50 US 3,25 CANADA 2,25 SWITZERLAND 0,52 INDIA 11,75 Source: iBloomberg - 30 words
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Article48 2009-09-19 2 us$ 'S$ ier US$; 1.417 :us$. /s$ 1.631 2.311 EURO. ;us$/s$/i 1.467 2.078 Foreii rn curreno >er US$ S$ YEN 91.20 64.40 RM 3.483 2.458 HK$ 7.750 5.470 BAHT 33.72 23.80 RUPIAH 9,700 6,846 RENMINBI 6.828 4.819 INDIAN RUPEE 48.24 34.05 A$ 1.154 0.815 NZ$ 1.412 0.99748 words
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452 2009-09-19 2 AFP It will propose wide-ranging rules aimed at curbing excessive short-term risk-taking, says source Washington THE Federal Reserve is close to proposing wide-ranging rules on bankers' pay that would apply to any employee able to take risks that could threaten the safety andAFP - 452 words
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Article, Illustration335 2009-09-19 2 Reuters Kuala Lumpur MALAYSIA'S top mobile phone operator Maxis Bhd has flagged off its IPO, set to be the country's biggest initial public offering since 1995 and estimated by sources at US$2 billion, as investors rush to capitaliseReuters; REUTERS - 335 words
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Article, Illustration767 2009-09-19 4 Chuang Peck Ming - Chuang Peck Ming Big names doing their utmost to leverage on the upcoming Fl races By peckming@sph.com.sg Singapore WHILE only two luxury watch brands Franck Muller and Chopard are officially tied to next weekend's Singapore Grand Prix, many other big names767 words
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Article878 2009-09-19 5 Jaime Ec - Jaime Ec Non-Chinese restaurants are not above the fray in a practice that is more common than many imagine jaime@sph.com.sg Singapore THE general consensus in the food and beverage industry is that the culture of kickbacks is much more pervasive than people may think. "Everybody thinks878 words
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Article, Illustration446 2009-09-19 5 NYT San Francisco GOOGLE is pushing for a second act. The company has built its fortune almost entirely on the back of small text ads, which appear alongside its search results and on sites across the Web. Now it is stepping up efforts toNYT; REUTERS - 446 words
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535 2009-09-19 6 Bloomberg Tax evasion amnesty programme prompts flood of disclosures New York ÜBS AG's US$7BO million settlement with US authorities to avoid prosecution for helping Americans cheat on their taxes has opened a Pandora's box for banks worldwide. A US tax programme encouragingBloomberg - 535 words
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Page 2 Miscellaneous
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Miscellaneous63 2009-09-19 2 NEWS LIVING Top Stories 2-6 I™** Week In Review 7 Gadgets L4 Raffles Conversation"^ CliPPerRace Companies 10-13 From The Desk Of 14 /f0k r j'E^SL Singapore 15-17 V V^^ Letter From Abroad 18 ***i«« l>l^ World J9J2 pining L6-9 Stocks Stats 23-27 shopping L11-12 Perspective 28-29 Health L13 Wealth 30-3463 words
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Page 3 Advertisements
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Advertisement200 2009-09-19 3 mi m The art of loft living When boundaries are pushed... When you are free to express yourself... I| When living zones are redefined... A prime investment opportunity Vlj or visit our showflats at 83 Cairnhill Road <■ >t, www.fareast.com.sg \WW__________-. I E________^ _<^*\ B^ FREEHOLD 1 84 Loft Apartments200 words
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Page 5 Advertisements
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Advertisement15 2009-09-19 5 I 1111 l 11 1111 l V 1 Race Draw Ikk 1^ __7 I I15 words
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Page 6 Advertisements
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Advertisement528 2009-09-19 6 'The question is whether the US government is going to make the same effort to get the names of account holders at Credit Suisse, Julius Baer and LGT that it did at ÜBS, and if not, why not?' Lawrence Horn, an attorney at Sills Cummis Gross in Newark, New Jersey528 words
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WEEK IN REVIEW/WEEK AHEAD
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this week
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53 2009-09-19 7 BANKS here are changing the way they promote and sell investment products in response to new rules on how financial firms should treat customers and recent complaints about mis-selling in the industry. Most have already implemented some of the rules spelt out by the53 words
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48 2009-09-19 7 HOME seekers have gotten hungrier for apartments in recent months but have yet to work up a hearty appetite for large units. Across many property launches, studio apartments and two-bed-ders remain most popular, reflecting continued price sensitivity on the buyers' part.48 words
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Article, Illustration73 2009-09-19 7 SENIOR Minister Goh Chok Tong has likened the current state of the global economy to a man who has fallen from a great height. "Many of his bones have been broken and his body is bruised, but he has survived." THE STRAITS TIMESTHE STRAITS TIMES FILE PHOTO - 73 words
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49 2009-09-19 7 AFTER two recent warnings that it was keeping a close eye on things heating up in the private housing sector, the government on Monday announced cooling measures to "temper the exuberance in the market and pre-empt any speculative bubble from forming".49 words
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54 2009-09-19 7 US President Barack Obama has warned Wall Street against reck- less and unchecked behaviour that had threatened the nation with a second Great Depression. He told financial titans on Monday the first anniversary of the Lehman Brothers collapse that they could not count54 words
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58 2009-09-19 7 JURONG Technologies Industrial Corp was carrying more than $100 million in doubtful or non-existing assets on its balance sheet months before it went into judicial management, an investigation has found. That allowed the company to report a respectable financial position for the quarter to Sept58 words
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51 2009-09-19 7 PARLIAMENT has passed the Private Education Bill that was first tabled last month. The move to introduce stricter controls on private education institutions here comes after several closed down without warning in recent years, leaving many students stranded and scrambling to get back their tuition51 words
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36 2009-09-19 7 DEVELOPERS including CapitaLand, Guocoland and City Developments are proceeding with plans to launch their projects despite measures announced by the government to cool an overheating private housing market.36 words
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34 2009-09-19 7 AT least 20 chefs from various hotels, including five-star establish- ments, and top Chinese restaurants have been questioned for allegedly taking bribes from a food supplier in Bedok.34 words
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48 2009-09-19 7 FORMER Daka Designs CEO Raymond Chow, former executive chairman Mah Pat V and former CFO Kevin Leung have been charged in Hong Kong with conspiring to defraud shareholders and the Singapore Exchange between early 2003 and May 2005.48 words
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55 2009-09-19 7 SMALL and medium enterprises find the Jobs Credit Scheme handy though not quite for the reasons that it was intended. Many said that they intended to use the scheme aimed at preserving jobs to improve their net cash posi- tion or to55 words
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70 2009-09-19 7 TEMASEK Holdings has recovered most of the heavy losses suffered last year in the four months to end-July as financial markets rallied and it rebalanced its investment portfolio. It also said on Thursday that it could keep most of its money in70 words
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39 2009-09-19 7 TWO former Renault team principals Flavio Briatore and Pat Symonds could be extradited to Singapore to be charged for their part in fixing the outcome of last year's Grand Prix here.39 words
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Page 7 Miscellaneous
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Miscellaneous263 2009-09-19 7 CRYPTIC CROSSWORD Across WWWMZ —^K~~^H 13 Hollywood's new lot 7 Sentimental drivel about isn't altered (10) 9 Recall article in periodical —^—^_—^_—^H—^_ open (8) W H— —HI BB Bl —M— —HI 18 Point on needle exposing 10 Brown's back keeping no risk (8) 11 Batman appears after I |J r263 words
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Miscellaneous103 2009-09-19 7 NEXT WEEK Sept 21-25, 2009 US DATA Sept 21 Leading indicators (Aug) Sept 22 House price index (July) Sept 24 Existing home sales (Aug) Initial job claims Sept 25 Durabale goods orders (Aug) New home sales (Aug) Michigan sentiment (Sept) SINGAPORE DATA Sept 23 Consumer Price Index EVENTS Sept 22103 words
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THE RAFFLES CONVERSATION
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Article, Illustration2227 2009-09-19 8 Amit Roy Choudhury - Amit Roy Choudhury Out of one simple idea came a blockbuster business that enables millions of dollars to be transacted securely online every day. Scott Thompson, PayPal president, shares his success story. By THE nature of Silicon Valley start-ups is that sometimes a great idea leads to aARTHUR LEE - 2,227 words
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Article76 2009-09-19 8 Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. A collection of luxury hotels, Raffles Hotels and Resorts distinguishes itself through the highest standards of hospitality, service and cuisine. Its hotels in Singapore, Beijing, Cambodia, Beverly Hills, Dubai and the Caribbean76 words
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COMPANIES
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Article, Illustration512 2009-09-19 9 Chew Xiang - Chew Xiang Asl2Bm deal will make it one of the world's top three almond producers By xchew@sph.com.sg Singapore COMMODITIES supplier Olam International is buying an almond orchard in Australia for Asl2B million (*****.4 million) and "aggressively" looking for other acquisitions. Chief executive officer Sunny VergheseFILE PHOTO - 512 words
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257 2009-09-19 9 Bloomberg Sydney ABERDEEN Asset Management Pic, which bought Credit Suisse Group AG's funds unit this year, named Brett Jollie, 37, to head its Australian operations, replacing Bill Bovingdon. Aberdeen yesterday also announced that Sydney-based portfolio manager Gavin Goodhand and Singapore-based Robert Mann areBloomberg - 257 words
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Article, Illustration229 2009-09-19 9 Felda Chay - Felda Chay By feldacc@sph.com.sg Singapore CITYSPRING Infrastructure Trust's $235 million rights issue closed with a subscription rate of about 1.39 times. The one-for-one renounceable rights issue achieved valid acceptances and excess applications totalling about 680.2 million units, or 138.8 per cent ofthe approximately229 words
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Article, Illustration615 2009-09-19 10 R Sivanithy - R Sivanithy STOCKS I sivan@sph.com.sg Senior correspondent AT the start of the week, our Monday report recommended that readers continue to buy the dips but sell into strength as soon as they get the chance while keeping feelers out for signs of frothiness.615 words
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Article116 2009-09-19 10 VOL CLOSE ChinaGaoxian 292,402 26 0.0 0.0 HsuFuChi 119,742 168 -2.0 -12 Golden 97,462 45 -0.5 -1.1 Uni Envtech 84,973 37.5 7.0 23.0 Gentire SP 71,948 105 1.7 1.6 'ire Li 49,459 73.5 5.0 7.3 UniFiber 43,901 0.0 0.0 Sinomem Tech 43,817 63.5 3.0 5.0 Novena 36,223116 words
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Article53 2009-09-19 10 CLOSE UP IMH 3098 118.9 2.C 'BXT MSTaiwan 10US$ 153' 73.6 3.! 'BXT FTVietnam 10USC 5462 45.3 O.i iCC 5.1% NCPS 100 9830 40.0 0.. 'ilmar.ES.0909 677 32.0 5.1 'ilmar 67' 26.0 4.1 'BXTS&P Short 10US$ 5766 22.7 o.: \scendasreit 194 13.0 7.C CIA.ES.0909 1336 10.0 O.C Czra53 words
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Article45 2009-09-19 10 CLOSEDOWN ISH 1668 -87.8 -3.( ICBC Bk 4.5%NCPS 100 9400 -40.0 -0. IOB 1662 -38.0 -2.: iBS Gri 1316 -32.0 -2.. .ES.0909 1022 -28.0 -2." ;ia 200 1336 -20.0 -1.! 1020 -18.0 -1/ IK Land 408 -17.0 -2.' Venture Corp 906 -15.0 -I.i45 words
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Article101 2009-09-19 10 apitaLand 3.650 -0.080 1.790 -0.010 :if 'Dev 10.200 -0.180 1.620 :osco Corp 1.230 IBS Grp 13.160 -0.320 :&N 3.910 -0.090 ientin: SP 1.050 +0.017 iolden ;ri 0.450 -0.005 IK Land 4.080 -0.120 IMH 30.980 +0.840 ISH 16.680 -0.620 lardine C&C 24.520 -0.020 Corp 8.390 -0.020 IOL 1.820 -0.030101 words
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272 2009-09-19 10 Singapore THE Singapore Exchange said yesterday that it has admitted Fortis Bank Global Clearing NY (FBGC) as a clearing member for its securities market, and as both a clearing and trading member for its derivatives market. FBGC is the first bank to272 words
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145 2009-09-19 10 Bloomberg Singapore GP Batteries International Ltd has hired DBS Group Holdings Ltd and Over-sea-Chinese Banking Corp as lead arrangers to help it refinance a $60 million loan, according to a person familiar with the matter. GP Batteries financial controller Ben Lav confirmedBloomberg - 145 words
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512 2009-09-19 11 Vincent Wee - Vincent Wee It plans to make use of the downturn to make opportunistic deals By vincewee@sph.com.sg Singapore THAI-based drilling and subsea services company Mermaid Maritime has proposed a rights issue to raise a $152 million war chest for future acquisitions as it makes use512 words
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299 2009-09-19 11 Teh Shi Ning - Teh Shi Ning By tshining@sph.com.sg Singapore LOCAL private equity firm Tembusu Partners has tied up with a Chinese partner to launch a fund management company in Nanjing to manage their new USSBO million Nanjing Growth Fund. Tembusu and Nanjing Venture Capital have set up299 words
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321 2009-09-19 11 Singapore CHINA Gaoxian Fibre Fabric Holdings, the biggest initial public offering (IPO) in Singapore this year, saw its shares close at its offer price of 26 cents on their debut yesterday. The stock opened at 27 cents and traded321 words
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Article, Illustration644 2009-09-19 12 Reuters PROFILE I Renato de Guzman has been instrumental in nurturing the private bank in Asia Manila/Singapore WITH his dapper charm and wealthy friends, Filipino banker Renato de Guzman has been instrumental in nurturing ING's private bank in Asia. lust as crucial willReuters - 644 words
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Business briefing
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Article112 2009-09-19 12 CHEMOIL Energy said that a letter of summons issued in a Jakarta court has been served by a claimant, Alexander Thaslim, on the company. The claimant has made allegations against six different parties, including the company, and claims damages for material tangible loss of 2.5112 words
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Article43 2009-09-19 12 SWIBER Holdings said that the lease for its Tuas Crescent premise has been extended by JTC Corporation to Oct 31, 2021, subject to certain terms and conditions. Ihe 2.4 ha land is occupied by its shipyard, Kreuz Shipbuilding Engineering.43 words
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Page 10 Advertisements
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Advertisement23 2009-09-19 10 SCORE CARD Keep your investors informed by advertising your financial results in 1 our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. I23 words
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Advertisement38 2009-09-19 10 Leedon Pk ***** sq ft jfjfl Beautiful Land for Rebuild Can Sub-divide to two plots BB Beautiful Garden Wide Frontage, Flat Land •Greenery View a Easy Access to Holland Village Good Feng Shui E_U Newsman S°le Marketing Agent38 words
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Page 11 Advertisements
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Advertisement16 2009-09-19 11 9UHOT3O (OWflPplW MON-FRI VJB #W TO J2MM wiTH^*~\ L BOY THUNDER m J91.3FM1 ItODIY'S BEST MUSIC16 words
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Page 12 Advertisements
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Advertisement9 2009-09-19 12 -___fC «wtiflß^^^' Jj^___Ei VrJt VI H L^__J____p^^__/^^^fcP _mn______W^^^ www.omy.sg^^9 words
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FROM THE DESK OF
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Article, Illustration1029 2009-09-19 13 With major currencies continuing to erode in value, and supply of gold struggling to meet demand, gold and gold-denominated products are likely to remain in focus FROM THE DESK OF Christian Baha Owner and founder Superfund group of companies THE recent conversations I have been having1,029 words
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SINGAPORE
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527 2009-09-19 14 Yen Sreenivasan - Yen Sreenivasan But demand still weak due to excess capacity and price-sensitive business travellers: lata Reports by ven@sph.com.sg THERE are early signs of a bottoming out in the premium air traffic segment, but yields remain under severe pressure due to excess capacity and more527 words
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Article, Illustration446 2009-09-19 14 DESPITE the current industry slump, overall world air passenger traffic will continue to grow at an average annual rate of 4.7 per cent between 2009 and 2028, according to European planemaker Airbus' latest Global Market Forecast. Citing economists' projections thatAP - 446 words
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372 2009-09-19 14 PORSCHE, Cerebos and New Creation Church have doubled their sponsorship for the annual children's charity concert, Child Aid. All three are now Platinum sponsors of the event, after raising their donations to $100,000 each. Ihe Child Aid concert, now in its372 words
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Article, Illustration717 2009-09-19 15 Rachel Sim - Rachel Sim The Chocz model is a win-win situation, with franchisees gradually taking over its outlets By rachsim@sph.com.sg FRANCHISE models often pose risk of investment and uncertain returns for franchise investors. The common franchise model adopted by most mega enterprises is generally inclined towards717 words
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Article, Illustration249 2009-09-19 15 LOCAL water colourist Ong Kirn Seng yesterday donated eight works from his private collection to the National Art Gallery (NAG). The donation comprises two oil on masonite paintings and six sketches and portraits in watercolour dating from the late 1960s to 1980s. ItARTHUR LEE - 249 words
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443 2009-09-19 16 Lee U- Wen - Lee U-Wen Telco coming on board as the official multimedia services partner for inaugural games By leeuwen@sph.com.sg ALREADY the title sponsor for the Singapore Formula One race, Sing Tel is now sponsoring another big-name event on the local sporting calendar: the inaugural Youth Olympic Games443 words
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Article, Illustration386 2009-09-19 16 THE 24th annual dinner of the Singapore Shipping Association (SSA) last night was marked by a mixture of optimism and caution. Second Transport Minister Lim Hwee Hua set the tone by recalling how the industry's "nightmare" had just begun when she spoke at386 words
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439 2009-09-19 16 A SERIES of road closures affecting the Marina Centre area will take place from midnight on Sept 23 to Sept 29 to facilitate the setting up and dismantling of race infrastructure for the 2009 Formula One Singapore Grand Prix. "Visitors to the439 words
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Page 15 Advertisements
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Advertisement25 2009-09-19 15 Lianhe Zaobao I Foreign I banks find it I hard to f-% competed J says Stanchart Shanghai branch president mm > J *J ___9e fl _fl25 words
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LETTER FROM ABROAD WITH ASCOTT
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Letter, Illustration901 2009-09-19 17 Russell Neu Wee Teck - Russell Neu Wee Teck LETTER FROM VIENTIANE Singapore International Foundation in-field volunteer If ever there is an award for best drivers in the world, I wager the Laotians will win hands down We invite Singaporeans living overseas or posted abroad to write about901 words
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Page 17 Advertisements
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Advertisement229 2009-09-19 17 NOW DEFINING GLOBAL LIVING Rl IN CHINA SPECIAL 25™ ANNIVERSARY 'I Ascott invites you to celebrate its 25 th anniversary with special rates and *Jr J ||f jf? promotions at our participating serviced residences in China. From the *"J PQ/ ~^v* fcSfttS __t BPSK I^l spacious exclusivity and refinement of229 words
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Advertisement18 2009-09-19 17 THE ASCOTT GROUP A Member of Capita Land This series is brought to you by The Ascott Group18 words
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WORLD
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Article, Illustration568 2009-09-19 18 Reuters Proposal comes with fresh capital and expanded business ties Tokyo AMERICAN Airlines will team up with British Airways and Qantas Airways to offer cash-strapped Japan Airlines fresh capital and expanded business ties, two sources said, aiming to fight off a rivalReuters; REUTERS - 568 words
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Briefing
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Article64 2009-09-19 18 AFP iy AUSTRALIA'S population will explode by almost two-thirds in the next 40 years, jumping by 65 per cent to 35 million by 2049, an upgrade of seven million from previous forecasts. The number of young and working-age people would grow by 45 per cent. ButAFP - 64 words
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Article73 2009-09-19 18 Bloomberg n HOUSEHOLD wealth in the US increased by US$2 trillion in the second quarter. Net worth for households and non-profit groups climbed to US$53.l trillion from US$5l.l trillion in the prior three months, marking the first gain in seven quarters, the Federal Reserve'sBloomberg - 73 words
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63 2009-09-19 18 Bloomberg ii CONTRACTS to build the world's largest solar power facility in India's Gujarat state, valued at US$lO bil- lion and backed by former US president Bill Clinton, will be awarded by January, a state government official said. The foundation and the GujaratBloomberg - 63 words
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Article60 2009-09-19 18 Reuters Ie PONZI-SCHEME swindler Bernard Madoffs Montauk, New York, home, located on a beach with sweeping views of the Atlantic Ocean, has been sold for more than the US$B.75 million asking price. Several buyers submitted bids for the swindler's 3,000-square-foot home, which was on the marketReuters - 60 words
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57 2009-09-19 18 AP A SUICIDE bomber rammed an explosives-laden vehicle into a hotel in a north-west Pakistan market yesterday, killing 25 people in a possible sectarian attack, police and a government official said. The attack in Usterzai, a village on the outskirts of Kohat town, was theAP - 57 words
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419 2009-09-19 18 AFP Paris THE controversy over a spate of suicides at the communications giant France Telecom took a macabre turn on Thursday with the publication of a suicide letter sent by the latest woman to die. "I'm going to become the 23rd staff memberAFP - 419 words
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Article, Illustration608 2009-09-19 19 Bloomberg It seeks public opinion on whether banks should disclose shopping done to up ratings NEW YORK THE US Securities and Exchange Commission (SEC) has proposed new rules for credit-rating companies as it tries to reform an industry blamed for helping Wall StreetBloomberg; BLOOMBERG - 608 words
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Article, Illustration266 2009-09-19 19 AP London A REMBRANDT portrait that once hung in the president's office at Columbia University is expected to sell for up to £25 million (5558.5 million) when it is auctioned later this year. Christie's auction house yesterday said that itAP; REUTERS - 266 words
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268 2009-09-19 19 -AFP Hong Kong A HONG Kong court yesterday sentenced a former senior banker at Morgan Stanley to seven years in jail the heaviest punishment it can impose in the city's largest insider dealing case. Du Jun was convicted on 10 charges for buying-AFP - 268 words
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Article, Illustration431 2009-09-19 20 No 'jobless recovery' in China, as factories reopen and economy surges 14.9% in Q2 Wuxi, China JUST eight months ago, thousands of Chinese workers rioted outside factories closed by the global downturn. Now many of those plants have been reopened and are hiring again.REUTERS - 431 words
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532 2009-09-19 20 Beijing ANGER over troop deployments, reports of border incursions, and a high-pitched media debate have reignited strains between China and India over long-fester-ing border disputes in the Himalayas. The details of whether boots actually crossed borders are murky, but experts in both countries532 words
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375 2009-09-19 20 Reuters Singapore THE Sun can lash the Earth with powerful winds that can disrupt communications, aviation and power lines even when it is in the quiet phase of its 11 -year solar cycle, US scientists say. Observers have traditionallyReuters - 375 words
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550 2009-09-19 21 Bloomberg State-court trial alleges that drug company hid known risks to increase profits Philadelphia OFFICIALS of GlaxoSmithKline Pic, the UK's largest drugmaker, said in 2001 that a birth defect in the foetus of a woman taking its Paxil antidepressant was likely to beBloomberg - 550 words
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Article, Illustration456 2009-09-19 21 AFP Los Angeles STYLISH period drama Mad Men and network comedy 30 Rock are favourites to scoop top honours at Sunday's 61st Emmy Awards, the US television industry's equivalent to the Oscars. AMC television hit Mad Men set in the politically incorrect worldAFP - 456 words
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511 2009-09-19 21 AP Los Angeles LADY Dai was a Chinese nobleman's wife in her mid-50s when she died of a heart attack. She was overweight, had diabetes, high blood pressure, high cholesterol, liver disease, gallstones and her arteries were almost totally clogged. SheAP - 511 words
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SGX
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Article8930 2009-09-19 22 SZ-wks Tel High Low Code Company Last Sale Vol Day Last Quote COO0) High Low Buyer Seller Div GrYld Net C'vr P/E M Cap Smil 17 3 3148 8Telecom 9.5 2.5 5834 A-Sonic 31.5 12 5000 ABR Hldgs 14.5 5.5 1938 AEI Corp 8 1 11008,930 words
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Article1633 2009-09-19 25 High Low Code Company Sale ('000) High Low Buyer Seller C'vr P/E Smil 5.5 5 1181 s AAGrp 16 12 8538 t APStrategic 1 0.5 1501 s Advanced System '.5 2 3480 t Adventus 10 8.5 3518 s Afor 2.5 2 1524 t Alantac 1 3.5 7814 t1,633 words
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Article95 2009-09-19 25 Up Down Unch 5 9 4 Up Down Unch OOO Up Down Unch 5 9 4 lulti Ind lanufacturini 54 83 55 15 60 90 70 Commerce 20 18 29 24 20 33 /Stor/ /Comms 20 15 20 16 :inance 13 14 Construction 12 ■roj 15 2195 words
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Article256 2009-09-19 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co256 words
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Article840 2009-09-19 25 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Sep 14 Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per ShrS SHAREHOLDING Before After ('000) ('000) Stock Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per Shr. SHAREHOLDING Before840 words
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Page 22 Advertisements
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Advertisement23 2009-09-19 22 iUDEMARSPIGUET >"^P'^mPl' I i Le maitre de I'horlogerie depuis 1875 _^0^ V jj^^* > For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com 4ri'' V«J* S^slJ(__23 words
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MARKETS
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STOCK MARKETS
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370 2009-09-19 26 In local curr In S$ In US$ %dy %yr %dy %yr %dy %yr Index Change Change Change Change Change Change Sep 17 World Index Preliminai 808.8 0.3 19.3 0.5 21.9 0.5 24.3 tEAFE Preliminai 771.0 0.7 18.8 0.9 25.3 1.0 27.7 Euro| Preliminai 1093.5 0.5370 words
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Article144 2009-09-19 26 Sep lurrencies Bid >$/US$ to one unit of foreign currency: \ustralian dollar 1.2266 Offer 1.2288 Bid 0.8664 Offer 0.8667 :anadian dollar 1.3186 1.3211 0.9314 0.9318 'uro 2.0766 2.0799 1.4667 1.4670 IZ dollar 1.0020 1.0048 0.7077 0.7087 jterlini 2.3093 2.3131 1.6311 1.6315 IS dollar 1.4158 1.4178 _$/US$ to144 words
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Article74 2009-09-19 26 Sep r\ :OCOA (£/tonne) Close Prev Hi! 'Low )ec09 1977 1982 1999/1973 dar 10 1991 1993 2008/1984 day 10 2009 2007 2022/2002 lul 10 1972 1974 1983/1983 :OFFEE (US$/tonne) Close Pev High/Low Sep 09 1510 1498 1512/1503 \lov09 1524 1512 1526/1513 Ian 10 1547 1536 1550/1536 SUGAR (US tonne)74 words
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Article101 2009-09-19 26 Sep J7| iOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low \lov09 953.00 950.50 962.75 937.25 Ian 10 956.25 955.00 965.75 941.50 vlar 10 955.50 956.75 964.50 943.75 vlaylO 951.50 956.50 967.75 942.00 JOYBEAN/OIL (60,000 lbs; usc/b) Close Previous High/Low net 09 34.55 34.38 34.75 34.15 3ec09101 words
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Article75 2009-09-19 26 Sep nf ISS/barrel (FOB origin) Close Change Srent blend (1-Mth F) VTI (Near Mth) )ubai (1-Mth F) "apis blend /linas 71.92 2.10 72.55 0.17 70.82 1.85 75.55 2.35 73.55 1.80 •RODUCT ISS/barrel (FOB S'pore) Close Change \l aphtha let Kerosene 68.90 77.35 1.90 1.80 JSS/barrel )pec Oil Basket Price75 words
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Article65 2009-09-19 26 Sep J-| GOLD (US$/oz) Sep 17 Sep 18 Hong Kong 1018.*****0.50 Sep 16 Sep 17 London 1015.*****6.30 1016.*****7.00 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.33 24.1 Source: UOB PLATINUM Lon (US$/oz) Sep 17 Close Previous PM Fix 1336.*****9.00 AM Fix 1343.*****3.00 Source: Thomson Reuters PLATINUM /NYMEX65 words
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Article57 2009-09-19 26 Sep IS )elivery 4onth Opening Range Sett Price Av Price Low Vol Done Open Positioi Hi, Dct09 \lov09 3ec09 Jan 10 2206 2231 2245 2222 313 2292 2184 2200 2220 2184 3191 ***** 2175 2190 2210 2175 7580 ***** 2184 2210 2210 2184 2398 6612 Total o/p: *****57 words
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Article68 2009-09-19 26 Sep 17 Uumlnlum, 99.75' mrity (US$/tonne' Close Previous :ash months lopper, Grade A 1933.50 1966.00 1893.75 1927.00 ;us$/tonne) lash J months ■ead (US$/tonne; 6360.75 6385.00 6399.50 6420.00 :ash 1 months 2248.50 2276.00 2264.50 2293.00 lid /tonne; lose ■revious :ash months •in (US$/tonne; *****.00 *****.00 *****.01 *****.01 :ash 168 words
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PERSPECTIVE
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Article, Illustration924 2009-09-19 27 Ban Ki- Moon - Ban Ki-Moon NYT Climate change is the preeminent geopolitical issue of our time. It rewrites the global equation for development, peace and prosperity. By TWO weeks ago, I visited the Arctic. I saw the remains of a glacier that just a few years ago wasNYT; REUTERS - 924 words
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Article741 2009-09-19 27 Washington WHEN I was a kid, my mother was a bit obsessive about making sure I finished my antibiotics. Even if I was feeling better. That didn't make a lot of sense to me. You take medicine until you're not sick anymore. But when I got741 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1319 2009-09-19 28 LAT-WP This year's stock market surge is one of the least joyous bull runs in memory, as individual investors are still smarting from last-year's devastation DANIA Leon's portfolio has surged 55 per cent in the stock market's booming rally over the last six months and sheLAT-WP; BLOOMBERG - 1,319 words
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Article732 2009-09-19 28 Conrad Tan - Conrad Tan Technology sector Underweight OCBC Investment Research Sept 181 DRAMATIC recovery in tech stocks likely to cap further upside. Technology stocks have rallied in recent months mirroring an improvement in the general business conditions. Most major tech indices have recovered most or all of their losses over732 words
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Article, Illustration1086 2009-09-19 29 Sani Hamid - Sani Hamid WEALTH INSIGHTS This strategy addresses the increasingly wider swings between booms and busts in the stock market Director, wealth management (economy strategy) Financial Alliance MAKING money is relatively easy. What's difficult is keeping it. A key lesson many investors would have learned from theBloomberg FA Wealth Management - 1,086 words
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Article, Illustration997 2009-09-19 30 LAT-WP There's no sure-fire way to predict what investments will do well but reflecting on what happened in the past year will give some guidance Baltimore EARLY last September, most of us couldn't imagine how bad things were going to get. But the failure of investment bank LehmanLAT-WP; REUTERS - 997 words
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Article, Illustration1184 2009-09-19 31 Teh Hooi Ling - Teh Hooi Ling SHOW ME THE MONEY There is a high possibility of further cooling measures if residential prices continue to escalate ahead of economic fundamentals hooiling@sph.com.sg Senior correspondent THE government this week announced several tightening measures for the property market. This is in response1,184 words
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WEALTH REAL ESTATE
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Article, Illustration435 2009-09-19 33 Bloomberg Reputation risk, interest rate risk and liquidity risk may not have been given due regard HONG KONG'S central bank has warned lenders in the city that their "intense price competition" on mortgages isn't sustainable and may erode industry profit margins andBloomberg; AFP - 435 words
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446 2009-09-19 33 Bloomberg London UK mortgage approvals by the nation's six biggest banks increased for a seventh month in August to the highest level this year, a sign that the housing market slump is easing. The number of loans granted by the institutions roseBloomberg - 446 words
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Page 32 Advertisements
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Advertisement1010 2009-09-19 32 PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (S$) STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (S$) District3 District 14 NON-LANDED NON-LANDED RegencySuites Apt 26/08/2009 FH 980 950 969 Guillemard Rd Apt 26/08/2009 FH 1227 465 379 River Place Apt 28/08/20091,010 words
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Page 33 Advertisements
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Advertisement56 2009-09-19 33 Superb Investment Property Guaranteed yield of 10% p.a. for 5 years for investors Superb resort apartments across from the beach Completed project. From Ss272k Cash discount of 15% Inspection flight and accommodation refunded on purchase Visit www.philhps-property.com, Property ID 204, email martin.philhps@philhps-property.com FINEST REAL ESTATE "M3X-TXT T TT*C INVESTMENT _T56 words
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Page 34 Miscellaneous
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Miscellaneous78 2009-09-19 34 JlJin. SiiSil'' Billionaire Soichiro Fukutake turned a small Japanese island into one of the most special and spectacular art destinations on earth, where art, architecture and nature coalesce ,.,;.-^_^-^f:^z^^^-J& "PUMPKIN" 1994-2005 SCULPTURE BY YAYOI KUSAMA. PHOTO COURTESY OF BENESSE ART SITE NAOSHIMA GADGETS DINING NO HOLDS BARRED A sociable phone78 words
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BT Living
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TRAVEL
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Article, Illustration1509 2009-09-19 35 Seoffrey Eu - Seoffrey Eu Billionaire Soichiro Fukutake turned a small Japanese island into one of the most special and spectacular art destinations on earth, where art, architecture and nature coalesce. By OICHIRO Fukutake is someone whose success in the (business world allows him to indulge in his greatest passion: collecting1,509 words
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GADGETS
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Article, Illustration945 2009-09-19 36 Christopher Lim - Christopher Lim Sing Tel is betting on the unintimidating INQ Mini 3G to get everyone to use social networking on the go. By ACEBOOK and Twitter are already a click away for people sporting sophisticated smartphones like Apple's iPhone and RlM's Blackßerry. But the rest945 words
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KEPPEL CLIPPER ROUND THE WORLD
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Article, Illustration856 2009-09-19 37 Vincent Wee - Vincent Wee First race ends in controversy as there is an ongoing protest against two boats. By THE Uniquely Singapore team's first outing in the Clipper 09-10 Round the World Yacht Race has ended in a creditable seventh place finish and in the process,ONEDITION - 856 words
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CEOS' HAWKER GUIDE
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Article, Illustration1268 2009-09-19 38 Jenny Tan - Jenny Tan BT Weekend's char kway teow hitlist. By CHAR kway teow often stirs up numerous debates over just which frying style makes the best plate of hot blackened flat noodles. Wet or dry, with traditional cockles and Chinese sausage or gussied up with prawns and squid,PHOTOS BY YEN MENG JIIN - 1,268 words
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Article, Illustration636 2009-09-19 38 Audrey Phoon - Audrey Phoon Christopher Lee CEO, Sharelnvestor By CHIEF executive officer Christopher Lee of Sharelnvestor calls himself "100 per cent Singaporean". "Even if you gave me an opportunity to move overseas, I would probably stay here. I was born here, educated locally I've got degrees from NTU636 words
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DINING
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Article, Illustration1889 2009-09-19 39 Audrey Phoon - Audrey Phoon What do a butchery, an ice-creamery and a lifestyle group have in common? They've all recently opened new eateries. I By Swiss Grill #01-05 Coronation Shopping Plaza 587 Bukit Timah Road _3 6463-8080 WHAT'S a butchery to do once it's gobbled up a large cutALL PHOTOS BY YEN MENG Jill. - 1,889 words
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ENTERTAINING
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Article, Illustration1155 2009-09-19 40 Audrey Phoon - Audrey Phoon guest chef Aussie chef Scott Webster will cook you bush food straight and simple when the main product is fantastic, there's no need to complicate things, he says. By AS ONE OF the pioneers of modern Australian cuisine, Scott Webster can teach youPHOTOS BY YEN MENG Jill. - 1,155 words
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SHOPPING
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Article, Illustration859 2009-09-19 41 Melissa Lwee - Melissa Lwee Yves Saint Laurent pays tribute to its iconic lacquer and Asian tradition with its new lon boutique. By RED is well known as a symbol for luck for Chinese and it's a cultural element that the house of Yves Saint Laurent has latched on to with859 words
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Article, Illustration864 2009-09-19 42 Melissa Lwee - Melissa Lwee The gala party to mark IWCs first ever standalone boutique here is itself a talking point. UNSUSPECTING guests at the IWC Schaffhausen gala party watching local jazz maestro Jeremy Monteiro and his band perform at the Esplanade theatre were caught off guard when the curtainADRIAN THOO - 864 words
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HEALTH
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Article, Illustration830 2009-09-19 43 Cheah Ui- Hoon - Cheah Ui-Hoon It's time women relook modern day contraceptive methods, which are increasingly being used to treat female problems such as menstrual cramps. By THE birth control pill might have caused the sexual revolution in the *****, but in its present form and function, it does more830 words
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HOME & GARDEN
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Article, Illustration993 2009-09-19 44 Seoffrey Eu - Seoffrey Eu personal space Tucked away in the quaint Katong neighbourhood is a black-and-white shophouse that Lu-Lyn Chang, Ara Hampartsoumian and their two daughters call home. By A PHOTOGRAPH of a residential interior in an old issue of Vanity Fair magazine was the creative catalyst for Lu-LynPHOTOS BY YEN MENG Jill. - 993 words
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SPORT
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Article, Illustration633 2009-09-19 45 Lee U- Wen - Lee U-Wen no holds barred leeuwen@sph.com.sg Correspondent IT WAS a magical fortnight in New York, to say the least. There was a little bit of everything surprises, shocks, profanities, rain delays, comedy, the emergence of new stars, the dethroning of the old guard and so633 words
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GOLF
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Article, Illustration1244 2009-09-19 46 Geoffrey Eu - Geoffrey Eu BMW has upped the ante for golf sponsorship with its impressive attention to detail and efficient running of its tournament at Cog Hill, Chicago. By GOLF fans know what their favourite players drive on the fairway, but how about what they drive on the highway? ThePHOTOS BY GEOFFREY EU - 1,244 words
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MOTORING
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Article, Illustration759 2009-09-19 47 Samuel Ec - Samuel Ec Among eco-friendly cars at the Frankfurt motor show are also some delectable and very decadent sports cars. By THIS year's Frankfurt motor show is nothing if not electric. That is because there were electric and alternative fuel cars everywhere at the 63rd edition of the world'sREUTERS; AP - 759 words
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Article, Illustration725 2009-09-19 48 KLTay - KLTay A capable and refined execution of the high-powered luxury sedan genre, the Jaguar XFR is poised to dig in its claws and pounce. By MY EARLIEST experience of riding in a Jaguar was when I was 12 years old on a family holiday to London. Squeezed725 words
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Article, Illustration517 2009-09-19 49 Samuel Ec - Samuel Ec Hot hatchbacks to look out for include the Volkswagen Golf R, Opel Astra and Citroen C 3. By AMONG the assorted environmentally friendly electric vehicles and explosive supercars at the Frankfurt motor show, there was a segment that offered a better balance between green and mean517 words
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Article, Illustration521 2009-09-19 49 Cheryl Tay - Cheryl Tay Drivers meandered their way through narrow tracks of palm oil plantations at Kota Tinggi. By IT WAS victory again for the Motor Image Racing Team (MIRT) and defending champion Cody Crocker at the FIA Asia-Pacific Rally Championship (APRC) Malaysian Rally last month. The weekend521 words
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Advertisement29 2009-09-19 37 J^H Waß,.i *&rL -**!f^fc.B^"'ffi^4fcS B_r I&^^_^^f___*^^r^ I PPM I^^*' A T.! nB5 P) 0627°0 9 8886 SBs?^ *f@ www.kepoorp.com a. Catch the wave on Uniquely Singapore at _%0^ www.marinakeppelbay.com29 words
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Advertisement8 2009-09-19 37 THIS SERIES IS BROUGHT TO YOU BY www.marinakeppelbay.com8 words
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Advertisement915 2009-09-19 45 WinG^ dine with BTWeekend Pine Court Chinese Restaurant station to one of the largest salad bars in information, please call 6826 8240 or email *$28.80++ (*1 for 1 promo for Senior Level 35, Orchard Wing town. The restaurant also serves a brunch celebrate.sin@panpacific.com. Citizens OCBC Credit Card holders), Meritus Mandarin915 words
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Page 48 Advertisements
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Advertisement67 2009-09-19 48 Cultures. Voices. Visions. VVVTERVwO TV nfp<4 Savour an array of Local and X* w Asian cuisines and pick up an interesting craft piece from Singapore and garound the region. ScjS |&fi£S"». P°_ D Date Time jjj I Fv^ff^ B*^ For more information, visit: WWW.asiaontheedge.com Asia on the Edge Indulge at67 words
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