The Business Times, 22 September 2009

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSIENSS TIMES Ssl.oo online at http://www.businesstimes.com.sg Sfili A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Tuesday, September 22,2009
    23 words
  • 587 1 -AP.AFP It'll be permanently disqualified if it breaches FIA rules again in next 2 years [PARIS] Renault escaped severe punishment yesterday for ordering former driver Nelson Piquet Jr to deliberately crash, receiving only a suspended ban from Formula One. A permanent disqualification from the
    -AP.AFP; —II 11 I AFP  -  587 words
  • 1141 1  -  KALPANA RASHIWALA Deals done in Ql post poorest returns since the start of last year By [SINGAPORE] Property speculators have had a tougher time so far this year some 341 subsales of condos and apartments in the first eight months of this year
    1,141 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • 60 1 COMMENTARY PROPERTY CORPORATE Q SME Inc Rating agencies The Fusionopolis FOCUS a^s£%£m®K j^^ Bringing clean in the spotlight Ij experience Technics Oil |J Wm m a^Y^° °fflces PAGE 6 ■JSSSr c PAGE 25 andGaSPAGES AJjl, /~o^k PAGE 9 PROPERTY 2009 Is the recovery in Singapore's property market sustainable? Answers, in-depth
      60 words

  • TOP STORIES
    • 730 2  -  RONNIE LIM It will incorporate the latest state-of-the-art technology By [SINGAPORE] Lanxess will build its "next-generation" butyl or synthetic rubber plant, incorporating the latest state-of-the-art technology in Singapore, Axel Heitmann, the chairman of the German chemicals group confirmed recently. Speaking at a scientific
      ARTHUR LEE  -  730 words
    • THREE-MINUTE DIGEST
      • 87 2 PROPERTY speculators have had a tougher time so far this year some 341 subsales of condos and apartments in the first eight months of this year incurred a loss, about 4.5 times the total number of loss cases in the whole of 2008.
        87 words
      • 57 2 RENAULT escaped severe punishment yesterday for ordering former driver Nelson Piquet Jr to deliberately crash, receiving only a suspended ban from Formula One. A permanent disqualification from the sport will be handed to the team if it again breaches the International Automobile Federation's rules
        57 words
      • 66 2 LANXESS will build its "next-generation" butyl or synthetic rubber plant in Singapore, Axel Heitmann, the chairman of the German chemicals group confirmed recently. He said that there are "promising signs" that the butyl market to be stirring again, especially in China the main
        66 words
      • 68 2 THE IRS is extending the Wednesday deadline for international tax dodgers to apply for an amnesty programme, so as to give a rush of applicants more time to prepare their paperwork. More than 3,000 Americans hiding assets overseas have applied for the programme,
        68 words
      • 55 2 THERE is money to be made in hot air, especially when, like Technics Oil and Gas, you are one of just a few companies that have full turnkey or engineering, procurement, construction and commissioning capabilities in the specialised field of gas compression systems and process
        55 words
      • 53 2 DESPITE a global recession and tightened credit conditions, Singapore companies pumped US$l billion into the United States last year, according to the US Department of Commerce. This brought their total direct investments in the world's biggest economy to U5512.72 billion. SINGAPORE
        53 words
      • 41 2 Recent moves in Indonesia, including plans by one province to stone adulterers to death, have raised concerns about the reputation of the world's most populous Muslin country as a beacon of moderate Islam. MALAYSIA/INDONESIA, PAGE 13
        41 words
      • 52 2 WYNN Resorts Ltd plans to raise as much as HK$l2.6 billion (552.31 billion) in a Hong Kong initial public offering of its Macau casino assets. Wynn will sell 1.25 billion shares of Wynn Macau Ltd for between HK$B.52 and HK$lO.OB apiece. GREATER CHINA/INDIA,
        52 words
      • 66 2 A BACKLASH is brewing on Capitol Hill against banks that charge large fees for overdrafts without asking or telling customers, the latest sign that the financial crisis is shifting the balance of power from banks toward borrowers. Banks struggling to survive have
        66 words
      • 41 2 JAPAN Airlines Corp, Asia's most indebted carrier, has hired Merrill Lynch Japan Securities Co to evaluate the carrier's value and select a partner that can help replenish its capital. AVIATION, PAGE 17 By
        41 words
    • 513 2  -  CHUANG PECK MING 400 of its unionised employees will get more in bonuses By [SINGAPORE] Instead of pocketing everything, Maybank Singapore is passing on part of the savings from the Jobs Credit Scheme to its unionised staff in extra bonuses and training. Some 400
      513 words
    • 714 2  -  NISHA RAMCHANDANI SINGAPORE GRAND PRIX But shorter road closures will lessen damage, they say [SlNGAPOßE] Retailers are bracing themselves for a rough ride when road closures kick in to facilitate the setting up and dismantling of race infrastructure for the 2009
      714 words
    • 316 2  -  SAMUEL EE By [SINGAPORE] Former world champion Mika Hakkinen yesterday gave some lucky Singaporeans a taste of the same back-thumping acceleration, high cornering and braking g-forces that Fl drivers regularly experience. Hakkinen was driving a two-seater Caparo Tl supercar at the Changi Exhibition
      316 words
    • 434 4 Publicity from the ÜBS court case had many wealthy Americans with offshore accounts nervously running to their tax advisers. Move will give a rush of applicants more time to prepare paperwork [WASHINGTON] The IRS is extending the Wednesday deadline for international tax dodgers
      434 words
    • 525 4  -  ANTHONY ROWLEY It's essential that lenders spread risks to others: IMF By i in Tokyo FINANCIAL securitisation needs to be rehabilitated if the global economy is to recover fully from the current recession, the International Monetary Fund says in a new report. IMF
      525 words
    • MARKETS DIGEST
      • 42 4 londay Closed lange iT INDEX 1 COMP Closed IIKKEI 225 closed IANG SENG 21,472.85 -150.60 ;et index 713.16 -0.51 JAKARTA COMP Closed 1ANILA COMP Closed ;eoulcomp 1,695.50 -4.21 ;henzhenb 524.83 +1.74 IUMBAI IND Closed 12 noon EDT Cham )OW 9,793.67 -26.53
        42 words
      • 29 4 Bloomberg SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 15.765 TAIWAN 4.776 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.52 INDIA 11.75 Source:
        Bloomberg  -  29 words
      • 44 4 IS$ (S$ per US$) 1.417 (US$/S$ per 1.631 2.311 EURO (US$,S$/E) 1.467 Foreign currency per US$ 2.07I S: 'EN 91.20 64.4I 3.483 2.45: 7.750 5.47I !AHT 33.72 23.8I 1UPIAH 9,700 6,84! 1ENMINBI 6.828 4.81 INDIAN RUPEE 48.24 34.05 1.154 0.81 IZ$ 1.412 0.99'
        44 words
  • Page 2 Advertisements
    • 89 2 Si Fantasy Waterbeds Pte Ltd J IjT Where Sleep Matters. jtJjgi JK More Sleep Gained With perfect lumbar, neck and back support, you Sf can finally experience complete holistic sleep and all the benefits that come with it. M^MH^^^BN^^^^^^ "Visit our Fantasy Sleep Centre I H^ for your ultimate sleep
      89 words

  • Page 3 Advertisements
    • 75 3 We have a centre of excellence. It's in 20 of the world's financial Private Banking Independent Asset Managers Family Office ym* J- Uf f% Global Custody M IT Asset Management E m m Investment Funds I I L I Geneva Lausanne Zurich Basel London -^.^fe Luxembourg Frankfurt Paris Madrid Barcelona
      75 words

  • Page 4 Advertisements
    • 50 4 B S-i m^—l— i ft" ;a TO JE v V V *fr jvf »s. *v. >w y j^ s j? r^ww..^d^\^ \> v A A^ H >(v^ s. V Mr w y s y &i N x x x x^ V V V \>' lfflM^Qß|HHQ9^^^| Registration website ESmi&hs£s**l http://syscan.org/DS3/index.html bUm||jjljU||||S
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    • 329 4 World Urban Development Congress Ilk Jj Innovative Urban Environments I^Ll M^L C Kaoshiung Taipei,Taiwan H 04-08 OCTOBER 2009 TAIWAN A If you're involved in urban development, then you must attend INTA 33TAIWAN President INTA At the 33rd INTA Congress, you will have the opportunity of sharing insights and knowledge with
      329 words

  • COMPANY NEWS
    • 674 5  - Not just hot air Technics soars high with its capabilities VINCENT WEE CORPORATE FOCUS It is penetrating non-traditional markets such as the Middle East By THERE is money to be made in hot air, especially when you are one of just a few companies that have full turnkey or engineering,
      674 words
    • 590 5  -  SIOW LI SEN By PRUDENTIAL structured product investors have been on a roller coaster ride but it seems many continue to keep the faith, hoping they will get back their money when the funds mature. Buffeted by the financial crisis, Prudential Yield 15/20
      590 words
    • 783 6  -  YEN SREENIVASAN T has been a year since the infamous collapse of Lehman Brothers. The episode, which caused panic and signalled a potential meltdown of the global financial system, has been the subject of vigorous debate, with analysts of every persuasion dissecting the
      783 words
    • 471 6 By JOYCE HOOI THE government's move to ban the interest absorption scheme (lAS) and the rowdy start of The Interlace development's preview last Tuesday have done little to dampen sales of the CapitaLand and Hotel Properties project. Of the 360
      471 words
    • 783 7 Reuters [SINGAPORE] French bank Societe Generale is aggressively pushing plans to build a strong platform to finance and trade liquefied natural gas (LNG) in Asia and ride an anticipated boom in the region led by China, a senior bank official said last
      – Reuters  -  783 words
    • 428 7 Reuters [BOSTON] Hedge funds are going out of business less quickly this year than last year, according to data that offers fresh evidence of a recovery in the US$l.4 trillion industry. But at the same time, hedge fund managers are earning lower incentive
      – Reuters; BLOOMBERG  -  428 words
    • 418 7  - HLH finds calling finally in corn PHILIP KERPAN KWEE Cambodian venture reaps maiden harvest in August, more by year-end By HLH Group (HLH) is looking to be Asia's biggest corn plantations group in the next 10 years, says its executive deputy chairman, Ong Bee Huat. And if this is achieved,
      418 words
  • Page 5 Advertisements
    • 110 5 ,'**>«© ,•**>«© jnto "■■•■s3d©® ''-H^iP \A^i> Best Global Best Global Debt Transaction Banking Best Global Bank House House r?nn —ittyttyi ti 'r-^i^T^m.*!/^ ASiAMONEY t excellence -,V/ LkL^l EUROWEEKASIA AWARDS Structured Interest Rate Products Best at Risk Best Bank in Best Overall Management Executing Loan Provider for Local in Asia Deals
      110 words

  • Page 6 Advertisements
    • 2329 6 Mermaid Maritime Public Company Limited (Reg. No. **********017) 26/28-29,9 th Floor Orakarn Bldg.,Soi Chidlom, Ploenchit Road, Lumpinee, Pathumwan, Bangkok *****, Thailand. Tel.: +66 (0) 2-255-3115-6; Fax: +66 (0) 2-255-1079 NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS NO. 01/2009 (THE "EGM") Unless otherwise defined, all capitalised terms used in this notice
      2,329 words

  • Page 7 Advertisements
    • 213 7 Sss||SS| Flying with ANA is an experience like no other. With our convenient sanfrancisco Chicago connections and unrivalled O Washington, d.c. Japanese hospitality, every trip i LOS ANGELES is a memorable one. So visit s-ngapore© www.ana.com.sg today and discover our amazing fares! Saatf** o**^^^^^ e^ WasHiiigton,D.C. I I Flight No
      213 words

  • SINGAPORE NEWS
    • 627 8  -  CHUANG PECK MING Shrugging off slump, firms boosted their direct investments in US to USsl2.72b By DESPITE a global recession and tightened credit conditions, Singapore companies pumped US$l billion into the United States last year, according to the US Department of
      627 words
    • 226 8 PAY your bills on time, and pay less for them. Customers of GE Moneys personal loan product James now have the chance to reap rewards for prompt repayments. As part of a move to encourage customers to exercise prudence in borrowing, James
      226 words
    • 845 8 SAPL adopted a value chain business model and achieved record sales of $100 million in 2004, writes TERESA NG, DESMOND ONG, STEFANIE INDRADEWI SURYOPUTRO and LAURA TANUWIDJAJA INCORPORATED in 2000, Silicon Application Pte Ltd (SAPL) started out as a joint venture between Silicon Application Corporation
      845 words
    • 419 8  -  TEH SHINING By The newly appointed head of Singapore Compact, Olivia Lum, aspires to help make Singapore the champion of corporate social responsibility (CSR) in this region. Miss Lum, who is better known as chief executive of water treatment company Hyflux, took over
      419 words
    • 1006 8 MD Rajiv Singh proudly says that SIMS stands for Sincerity Integrity Motivation Success, writes JIANG RUIMING, NGUYEN TUNG ANH and PHAM QUANG DAT RAJIV Singh, managing director of Synergic Industrial Materials Services (SIMS) is a firm believer in building relationships. Not just
      ARTHUR LEE  -  1,006 words
  • Page 8 Advertisements
    • 77 8 ENTERPRISE Celebrating Singapore's Enterprising Spirit 2009 Published every Tuesday and Thursday, this series is part of the Enterprise 50 Educational Project between the E5O partners and the NUS Business School. Synergic Industrial Materials Services (SIMS Singapore) Pte Ltd and Silicon Application Pte Ltd were among the E5O winners in 2008.
      77 words

  • SMEInc
    • 775 9 JAMIE LEE meets the partners of lEQ Global who aim to improve Singapore's indoor environment THE founders of lEQ Global are passionate about getting rid of dust particles. The company, brainchild of two grandsons of retail magnate CX Tang Jeffrey and Keith Tang works closely
      ARTHUR LEE  -  775 words
    • 736 9  -  CHEN HUIFEN By DESPITE challenging economic times, OCBC Bank is committed to investing in solutions for the emerging business owners, having spent more than $10 million since 2006 on coming up with products focusing on them. "That (more than $10 million) goes into infrastructure of branches,
      736 words
    • 702 10 THIS WEEK'S TOPIC With the momentum for this year's Singapore F1 race building up, what is it about the event that most excites you personally or commercially? Fong Loo Fern Managing director CYC The Custom Shop WE are thrilled that the service staff for this year's Formula
      FILE PHOTO  -  702 words
    • 460 11 Sitra is tapping the east European country's interest in 'exotic' Singapore furniture. RACHEL SIM reports FURNITURE company Sitra is expanding in Ukraine, turning on its head the notion that its business is a sunset industry. The company plans to replicate its debut concept showcase in Kiev,
      460 words
    • 1152 11 How three companies benefited from govt assistance programmes A BUSINESS outsourcing company, a Traditional Chinese Medicine (TCM) clinic, and a supplier of industrial products these are among the many SMEs that have tapped government assistance programmes in the past two years to turn their infocomm
      1,152 words
  • Page 9 Advertisements
    • 37 9 CATS Recruit jM Bfl I The first door to B\ your world of opportunities IffIBHSIR HB HI I L Call 6-594 7594 now for the IT Specialists Stone Forest IT D Bl I www.StoneForestlT.com.sg Partner QSg^o < (j
      37 words

  • Page 10 Advertisements
    • 1806 10 0- Communication Design International COMMUNICATION DESIGN INTERNATIONAL LIMITED NOTICE OF ANNUAL GENERAL MEETING 29 Scotts Road, Singapore *****4 on Tuesday, 13 October 2009 at 10.00 a.m. for the following purposes: AS ORDINARY BUSINESS Report thereon. (Resolution 1) 2. To re-elect the following Directors retiring pursuant to Articles 104 and 108
      1,806 words
  • Page 10 Miscellaneous
    • 126 10 SME Next week's topic: "What do you make of a survey which showed that 62 per cent of SMEs polled plan to use the Jobs Credit to offset operating costs; 26.7 per cent want to use it to increase their cash position and 11.3 per cent plan to pass it
      126 words

  • Page 11 Advertisements
    • 336 11 The Brains Trust October 15th 2009 If your current financial strategy depends on which way the wind is blowing, you might need a helping hand from an expert. Especially in today's uncertain world. On October 15th at 7pm (Registration starts at 6.30pm), at Raffles Hotel (East India Room), The Fry
      336 words

  • ECONOMY WATCH
    • 656 12  -  NEIL BEHRMANN It cites OTC clearing, moves for better transparency but says problems exist By in London MEASURES have been taken to substantially reduce the possibility of a systemic collapse in the mammoth global derivatives markets, according to the Bank For International
      656 words
    • 726 12 Reuters US proposing a new framework it hopes the G-20 will adopt [WASHINGTON] US President Barack Obama said on Sunday that he would push world leaders this week for a reshaping of the global economy in response to the deepest financial
      – Reuters; REUTERS  -  726 words
    • 336 12 -LAT-WP [WASHINGTON] When Federal Reserve policymakers meet this week, there is likely to be plenty of spirited debate behind closed doors. The Fed is almost certain to leave the federal funds rate, which it controls, near zero. The Federal Open Market Committee (FOMC)
      -LAT-WP  -  336 words
    • 462 12 Bloomberg But they remain at odds over who pays more for low-carbon [NEW YORK] China and the US, the biggest producers of greenhouse gases, may propose new steps to fight global warming this week as they remain at odds over who
      Bloomberg; REUTERS  -  462 words
    • 316 12 Reuters [SEOUL] A united Korea combining Asia's fourth biggest economy with one of its poorest could surpass that of Germany or Japan in economic might in the next 30-40 years, US investment bank Goldman Sachs said yesterday. Though North Korea's planned economy system
      Reuters  -  316 words

  • MALAYSIA/INDONESIA
    • 851 13 Reuters Recent legal tweaks casting doubt on country's reputation, investment climate [JAKARTA] Recent moves in Indonesia, including plans by one province to stone adulterers to death, have raised concerns about the reputation of the world's most populous Muslin country as a beacon of moderate Islam.
      – Reuters; AP  -  851 words
    • 475 13 Reuters He expects to win Golkar leadership next month [JAKARTA] Indonesian tycoon Aburizal Bakrie, who wants to run for president in 2014, believes that better infrastructure is more likely to attract foreign investors to South-east Asia's biggest economy than fighting corruption. Mr Bakrie, who is
      – Reuters  -  475 words
    • 516 13 Reuters [LONDON] The allure of Formula One remains undimmed for Middle Eastern and Asian investors as the sport shifted further away from its European origins last week with the rebirth of Lotus as a Malaysianowned team. BMW-Sauber, who were left fighting for
      – Reuters  -  516 words
    • 226 13 Bernama [KUALA LUMPUR] The Vi-enna-based International Atomic Energy Agency's (lAEA) board of governors has elected the Malaysian envoy to Austria, Mohd Arshad Hussain, as its chairman, replacing Taous Feroukhi of Algeria from today. He is the second Malaysian to assume the post
      – Bernama  -  226 words
  • Page 13 Advertisements
    • 70 13 SSE^r UanHe^Nan bao 24 Dec 06 LianHeZaobao iF eboB 2 Mar 08 f eports or features on V°u ne^spape^ g an d communication compeWS Reproduction ofSPH material without license or permit amounts to an infringement of SPH's copyright under the law. SPH reserves the right to seek full recourse in
      70 words

  • GREATER CHINA/INDIA
    • 743 14 Bloomberg, Reuters News comes at a good time as China quietly relaxes rules for Macau travellers [HONG KONG] Wynn Resorts Ltd plans to raise as much as HK$l2.6 billion (552.31 billion) in a Hong Kong initial public offering of its Macau casino assets,
      Bloomberg, Reuters  -  743 words
    • 540 14 Reuters Its shares opened 35% above price but was below par [SHANGHAI] Metallurgical Corp of China, the firm that helped build Beijing's "Bird's Nest" Olympic stadium, made a modest debut in Shanghai yesterday, in a sign that a flood of new equity is
      Reuters  -  540 words
    • 753 14 Private sector can tap elite govt forces to calm investors [MUMBAI] When Infosys Technologies, India's sec-ond-largest IT firm, hired paramilitary troops to protect its sprawling headquarters in Bangalore, some observers might have thought they had gone overboard. But since
      AP  -  753 words
    • 246 14 Reuters [BEIJING] China is considering buying gold being offered for sale by the International Monetary Fund, Market News International said yesterday, citing two unnamed government sources, but the report could not immediately be confirmed. "China will consider buying if the price is
      Reuters  -  246 words
    • 215 14 -AP [HONG KONG] A controversial will that leaves the entire estate of Asia's richest woman to a feng shui adviser reflected her love for him, a lawyer said in closing arguments yesterday. The will, dated October 2006, is at the centre of a
      -AP  -  215 words
    • 203 14 Reuters [SHANGHAI] Ten companies to be listed on China's second board said yesterday that they would take subscriptions from investors this Friday, as China nears the launch of a Nas-daq-style market to fund high-growth start-ups. The companies, such as Lepu Medical (Beijing) Technology Co
      – Reuters  -  203 words
  • Page 14 Advertisements
    • 783 14 In the matter of The Companies Act, Cap. 50 In the matter of The Companies Act, Cap. 50 And And In the Matter of In the Matter of SONIC PLUMBING ENGINEERING LIONNETWORK.COM PTE LTD ie™™™ nJ LJ?9«>3B3OHI (Company No. *****6771R) lCompanyNo.lWoo3B3oHJ STATUTORY DECLARATION BY DIRECTORS STATUTORY DECLARATION BY DIRECTORS OF
      783 words
    • 401 14 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SITIME PTE. LTD. (In Members' Voluntary Liquidation) Reg No. *****0267Z NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 990 Almanor Avenue, Sunnyvale, California *****, USA on the
      401 words

  • ASIA-PACIFIC/WORLD
    • 410 15 Bloomberg Sources say discussions at early stage; it may raise £3-6 billion [LONDON] Royal Bank of Scotland Group (RBS) is in talks with shareholders to gauge the appetite for a potential rights offering, two people familiar with the talks said. RBS, Britain's biggest
      – Bloomberg; AFP  -  410 words
    • 570 15 AFP [BRUSSELS] The European Commission yesterday published correspondence that it said supported a record anti-trust fine against Intel, but the move brought a swift denial from the US computer chip giant. European Union competition regulators fined Intel a record
      AFP; AP  -  570 words
    • 496 15 -AP [WASHINGTON] Predictions that the Great Recession is running out of steam aside, the House of Representatives is taking up emergency legislation this week to help the millions of Americans who see no immediate end to their economic miseries. A bill offered by Democratic Representative
      -AP  -  496 words
    • 265 15 Reuters [ZURICH] Julius Baer has looked at the private banking assets Dutch bank ING is putting up for sale and is open to discussing a deal, the bank said, clarifying a press report that said Bear was no longer interested. "It's a
      – Reuters  -  265 words
    • 411 15 Reuters [TOKYO] Japan's Ministry of Finance will scrap a spending ceiling on the 2010-11 national budget and its details will probably be decided outside of the newly created National Strategy Bureau (NSB), Finance Minister Hirohisa Fujii said yesterday. Mr Fujii's comments
      Reuters  -  411 words
    • 643 15 -AP It will give USs3sm to help facilitate banking services [SEATTLE] The BiU Melinda Gates Foundation is best known for its work combating malaria, Aids and other diseases. But the world's richest charitable foundation has been quietly expanding into other problems of
      -AP  -  643 words

  • WORLD
    • 557 16 -LAT-WP Letting people overspend and then charging them without warning is criminal: Senators [WASHINGTON] A backlash is brewing on Capitol Hill against banks that charge large fees for overdrafts without asking or telling customers, the latest sign that the financial crisis is
      -LAT-WP  -  557 words
    • 552 16 neuters [LOS ANGELES] HBO.a unit of Time Warner, again dominated the Primetime Emmys on Sunday, but the premium cable channel had to share some of the glory with lowly broadcast network NBC and public broadcaster PBS. Bolstered by multiple wins for
      neuters; : AFP graphics; !3^M I AP  -  552 words
    • 661 16 NYT [WASHINGTON] For months, Bank of America (BOA) has been trying to keep secret its legal conversations at the end of last year about its coming merger with Merrill Lynch. So far, it has succeeded, mainly by arguing that those conversations should remain confidential
      NYT  -  661 words
    • 395 16 -LAT-WP Disney may not own comic characters after buying Marvel [HOLLYWOOD] Walt Disney Co may not gain full ownership of many of Marvel Entertainment's most famous superheroes if new copyright claims by the family of the late artist Jack Kirby have merit. Four
      -LAT-WP  -  395 words
    • 719 16 Reuters [NEW YORK] Few disagree that the murky world of political fixers who hook up private equity firms with public pension funds needs cleaning up. But there are fears that an overzealous crackdown by regulators will also destroy a system that
      – Reuters  -  719 words

  • AVIATION
    • 561 17 Bloomoerg Potential suitors include American Airlines, Delta, Air-France KLM [TOKYO] Japan Airlines Corp, Asia's most indebted carrier, has hired Merrill Lynch Japan Securities Co to advise on its search for partners and investments, two people familiar with the situation said. JAL appointed
      Bloomoerg; BLOOMBERG  -  561 words
    • 542 17 Reuters ANALYSIS They cut routes and capacity faster as demand waned [NEW YORK] US airlines are expected to fare better than most of their foreign counterparts this year because they are trimming unprofitable routes and beefing up balance sheets as the economy begins
      Reuters  -  542 words
    • 2699 17 AIRLINE CODES: AA American Airlines (AAL), AF Air France (AFR), Al India (AC), AY Finnair Oy (FIN), AZ Alitalia Airlines (AZA), BA British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), Bl R.,» les Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA Airways
      2,699 words
    • 564 17 Reuters [PARIS] Airbus says it is making progress on securing European loans for its next generation of passenger jet as its top executive warned last Friday of two more tough years for the world's largest civilian planemaker. The loans are likely to include
      – Reuters  -  564 words
  • Page 17 Miscellaneous
    • 351 17 CRYPTIC CROSSWORD Across I Coast clear at first cunning I R [3 Hfl4 [5 I [g [7 HI plan took one in (6) HB_ _^l__^l__^^JH^^ l^_ 4 8(10 Establishments serving HJ Hfl HE RH^^HB sponges, say, or crumbles 8 Dad came back with little hun- HB BS) ffy^j p°^ f-:|
      351 words

  • SHIPPING/AVIATION
    • 445 18 Group claims that out of state tourists are taxed to fund benefits to residents [NEW YORK] An industry group representing Carnival Corp, Royal Caribbean Cruises Ltd and four other cruise ship companies sued to overturn a US$46 a passenger tax passed by Alaska
      I AP  -  445 words
    • 429 18 -AFP, Bloomberg [SYDNEY] Australian flag-carrier Qantas said yesterday it was yet to see any improvement in business conditions and could not predict the timing of a recovery in the global aviation market. The airline, which last month posted an 88 per cent slump in annual
      -AFP, Bloomberg  -  429 words
    • 288 18 Bloomberg [SEOUL] STX Pan Ocean Co, South Korea's biggest commodity shipping line, rose to a one-month high in Seoul trading after saying it was in talks with Vale SA on a deal that may be its largest ever contract. The company may
      Bloomberg  -  288 words
    • 353 18 Bloomberg [WASHINGTON] Air Canada, the country's largest airline, and the US have reached an agreement allowing the carrier to provide charter service to professional ice hockey and basketball teams in the domestic US market. The airline agreed to an "unprecedented level of monitoring
      Bloomberg  -  353 words
    • TRANSPORT STOCKS
      • 112 18 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KiVentures Keppel Corp Mercator Lines MTQ Corp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship Star Cruises 0.69 0.33 1.23 0.66
        112 words
      • 37 18 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings Nepline Brid PDZ Holdings 0.97 9.00 9.05 3.10 unch unch 0.09 0.02 -0.13 0.10 0.04 unch unch unch 42 351 188 189 0 0 430
        37 words
      • 12 18 '00 'recious Ship Regional Cont .18.10 .11.40 -0.1 unch 1841 90!
        12 words
      • 12 18 '000 iep^ Doil iingamas Cont .41.25 ...1.47 -0.65 -0.04 1151 605:
        12 words
      • 20 18 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 7.00 22.25 unch unch -0.20 unch unch unch 369] 20:
        20 words
      • 19 18 iep^ Evergreen Marine ....20.20 :irst Steamship 39.15 /Van Hai Lines 17.85 t'ang Ming Marine...13.05 -0.20 -0.35 -0.1 -0.1
        19 words
      • 38 18 '000 :awasaki Hvy Ind ..231.00 :awasaki Kisen 395.00 /litsubishi Hvy 358.00 /litsui Eng&Sbldg...253.00 /litsui Osk Lines 582.00 Jippon Express 369.00 Jippon Yusen 376.00 -3.00 ***** -4.00 4392 2.00 ***** -6.00 5026 6.00 ***** 1.00 6211 -3.00 7182
        38 words
    • 224 18 Reuters [MOSCOW] Russian prosecutors found no suspicious materials on the ship Arctic Sea despite reports it was carrying an air defence system for Iran, Russian newswires reported on Saturday. The Maltese-registered cargo ship was officially carrying timber from Finland to Algeria when
      – Reuters  -  224 words
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  • FINANCE & COMMODITIES
    • 370 19 In local curr In S$ In US$ dy yr dy yr dy yr Index Change Change Change Change Change Change Se| 18 World Index Preliminary 807.3 0.0 19.1 -0.1 21.7 -0.3 23.: EAFE Preliminai 770.2 -0.1 18.6 -0.3 24.8 -0.6 27.0 Euroi Prelim inan 1092.9
      370 words
    • 124 19 As at 9am Sep 18 )i foreign currency: lurrencies Bid Offer lust dollar 1.2230 1.2600 .an dollar 1.3200 1.3360 luro 2.0750 2.0990 IZ dollar 0.9980 1.0190 iterlini ind 2.3150 2.3410 JS dollar 1.4080 1.4240 .ocal dollars to 100 units if foreign currency: Currencies Bid Offer :hi
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    • 158 19 Sep 18 Xterniqht 1/4 -month 7/16 -months 9/16 l-months 11/16 Overnight mode: 0.15 IS$ Offer 1/8 3/16 5/16 7/16 BJd 1 days I month I months months d months months I I. (All 0.32 0.35 0.38 0.50 0.70 1.10 1.30 Offer 0.22 0.25 0.28 0.30 0.50 0.80 1.00
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    • 20 19 Sep 21 STI Se IIMSCI Se "aiwan Se 273.7 276.8 273.1 Source: MF Global (S) He. Ltd
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    • 21 19 Aug S$ Bid Offer 1-month 1.4496 1.4511 2-months 1.4498 1.4513 3-months 1.4499 1.4514 6-months 1.4501 1.4517 Source: OCBC
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    • 56 19 lelivery lonth Opening Range Sett Av Price Price Hi Low Vol Open Done Position 3d 09 2206 2231 2245 2222 313 \Jov09 2184 2200 2220 2184 3191 3ecO9 2175 2190 2210 2175 7580 Ian 10 2184 2210 2210 2184 2398 Total o/p: ***** contracts Turnover: ***** lots Market
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    • 243 19 Sep2l URODOLLAR FUTURES 3ec09 VlariO un10 iep10 99.5450 99.3150 98.9650 98.5650 6869 4323 3088 2150 EUROYEN TIBOR FUTURES 3ec09 VlariO un10 >ep10 3ec10 \/lar11 Iun11 >ep11 99.510 99.540 99.535 99.520 99.480 99.395 99.335 99.335 217 5678 4146 2052 1084 574 562 52 51 EUROYEN LIBOR FUTURES 3ec09
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    • 180 19 Sep 18 tUBBER Futures (Closing prices) !SS 3 (US cents/kg) flonth High Low Close Sett Volume (lots) O/l lots) 3d 09 MOV09 Dec 09 Ian 10 =eb 10 Vlar 10 219.0 219.0 218.5 218.5 218.5 218.5 407 525 867 771 451 574 FSR 20 (US cents/kg) Month High
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    • 86 19 Aug 18 'eriod Issue code Maturity Yesterday's Bid Hi< Day's |h Low I-Month BQ*****Z 19.11.09 -Year BY*****W 03.05.10 0.27 0.35 0.24 0.22 3OVERNMENT BONDS >eriod Issue Coupon Maturity code rate Close Bid Day's High Low !-Year NX*****H 3.625 i-Year NX*****F 3.625 '-Year N*****0S 2.875 0-Year NX*****W 2.500 5-Year
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    • 99 19 Sep 18 (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Nov09 941.00 953.00 958.00 936.00 Jan 10 945.25 956.25 961.00 940.75 Mar 10 946.50 955.50 960.50 942.00 May 10 943.75 951.50 957.00 940.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low 3d 09 34.68 34.55 35.25 34.41 Dec
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    • 75 19 CRUDE OIL PRODUCTS Sep 18 origin] t/barrel Close Cham irent blend (1-Mth F) 71.07 -0.85 WTI (Near Mth) 71.99 -0.56 iubai (1-Mth F) 70.11 -0.71 "apis blend 74.65 -0.90 i/linas 72.65 -0.90 >RODUCT JS$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 67.55 77.55 -1.3! 0.2I US$/barrel )pec Oil Basket Price
      75 words
    • 449 19 Sep 18 iuro 'en (on 'eso lam 'ouni Australia 0.930 5.917 0.591 6.716 41.798 84.055 0.790 10.467 3.018 1.224 71.906 41.317 1.228 6.472 0.895 28.118 29.216 0.531 0.867 Canada 1.075 6.361 0.635 7.220 44.935 90.363 0.850 11.253 3.245 1.315 77.302 44.418 1.320 6.958 0.963 30.228 31.408 0.571
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    • 68 19 Aug 18 mth 0.***** 0.***** mths 0.***** 0.***** mths 0.***** 0.***** mths 0.***** 0.***** mths 1.***** 0.***** 2 mths 1.***** 0.***** ;WAP Offer rates (S$) mth 0.***** mths 0.***** mths 0.***** 6 mths 0.***** 9mths 1.***** 12 mths 1.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs
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    • 149 19 Sep 18 Zurrencies Bid Offer Bid Offer >$/US$ to one unit of foreign currency: Australian dollar 1.2266 1.2288 0.8664 0.8667 Canadian dollar 1.3186 1.3211 0.9314 0.9318 luro 2.0766 2.0799 1.4667 1.4670 IZ dollar 1.0020 1.0048 0.7077 0.7087 Sterlinc 2.3093 2.3131 1.6311 1.6315 IS dollar 1.4158 1.4178 >$IUS$
      149 words
    • 130 19 Sep2l /oz) ;ep_ ;ep_ Hong Kong .ondon 998.60 1010.50 999.60 Sep 18 Sep 17 1011.40 1016.30 1012.20 1017.00 Source: Thomson Reuters CAST BAR (S$) Sep 18 Buying Sellini Kilobar "49,243.54" ***** PAMP GOLD BARS (SS) Selling Buying gm jam Ogm !0gm iOgm OOgm oz ozUBS Kinebar™ 110.21 313.51
      130 words
    • 61 19 ,luminium, 99.7% urity (US$/tonne) Close Previous :ash 1884.00 months 1917.00 1933.50 1966.00 Copper, Grade A (US$/tonne) :ash months 6149.25 6175.00 6360.75 6385.00 .ead (US$/tonne) :ash 2157.25 months 2185.00 2248.50 2276.00 lickel (US$/tonne) :ash months *****.00 *****.00 *****.00 *****.00 'in (US$/tonne) :ash *****.00 *****.00 months *****.00 *****.00 inc, Special
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    • 75 19 Sep 18 (£/tonne) Close Prev Hii ih/Low Dec 09 2018 1977 2025/1967 War 10 2038 1991 2044/1985 Way 10 2059 2009 2066/2005 lul 10 2010 1972 2010/1961 IOFFEE (US$/tonne) Close Pev High/Low iepO9 1499 1510 1503/1490 Mov09 1513 1524 1522/1479 Ian 10 1535 1547 1545/1503 SUGAR (US tonne) White
      75 words
    • 2309 19 BONDS, WARRANTS EXTENDED SETTLEMENT Sep 18 [el lode Company Last Vol Conv Exer Sale +or- ('000) Ratio Price Disc Gear- Mths ing Left Asia-Pacific Strategic W*****6 3.5 1 15 12 4.71 56 >036 Advance SCT Ltd W*****9 0.5 1 87 1246 13.00 11 AscendasREIT.ES.0909 172 1756 Asiatic Grp (H) Ltd
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  • EDITORIAL & OPINION
    • 473 20 MALAYSIA'S latest economic numbers offer some hope. The contraction in the second quarter was much smaller than expected and private economists now believe that the full GDP number for 2009 will be minus 3 per cent instead of the minus 5-6 per cent originally
      473 words
    • 1388 20  -  ANNA TEO Sidelined by the financial crisis, US GAAP and IFRS convergence will get a boost this week By FOR all the talk of a globalised world, there is still no single common language for measuring the performance of companies; or at least
      THE STRAITS TIMES FILE PHOTO  -  1,388 words
    • 793 20  -  PAUL KRUGMAN -NYT THE BOTTOM LINE IN the grim period that followed Lehman's failure, it seemed inconceivable that bankers would, just a few months later, be going right back to the practices that brought the world's financial system to the edge
      -NYT  -  793 words
    • 1274 21  -  RONNIE LIM Lanxess is keeping everything about its new butyl development under wraps #W OU'RE asking for the secrets of the next generation of butyl!' Lanxess chairman Axel Heitmann said teasingly, when asked about the elements of its latest synthetic rubber or butyl technology breakthrough during
      1,274 words
    • 808 21  -  BHANOJI RAO By AT THE simplest, the crisis of 1997-98 was regional, while the present crisis is global. Beyond the simple similarity, there are complex differences in origins and effects. When the Thai baht was tested by speculative attacks in late 1996
      BLOOMBERG  -  808 words


  • Page 22 Advertisements
    • 2618 22 m The Business Times Shipping Times |^^2JS^^fe^^^^HHHß9lH Direct Calling to TWTPE UK CONTINENT SERVICE U.S.A SERVICE OIIOHI COtllVflQll Destination Destination CVCI J OfllUl Ufl]| STXPOTBN RTM/ANR/TIL MATHIOS NOL/CDN ffc- f* A Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia lillllvll I lIV ifA Oil I~ 0 Udjf V Ull
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  • Page 23 Advertisements
    • 4324 23 F1 ffl IflTi EASTERN CAR LINER, LTD I |^3i^U4JULJU lY—!__-—l SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS [i^M KMllMillllililM 1111 l|l|.l'lllllllll__________________| I I inKKT) I Lillinq(KT) I LCB I )KT I SIN I PKL I )KT I SUR I VOY 111 [ID DiSIINAMN PCL/PHL SERVICE AMX SERVICE Connecting ECL
      4,324 words

  • PROPERTY
    • 311 24 Reuters Prime areas will return to growth next year as global markets rebound [LONDON] Prime rents in London's City and West End office markets will return to growth in 2010 thanks to flourishing global stock markets and a rebound in tenant demand
      Reuters; BLOOMBERG  -  311 words
    • 354 24 Reuters [LONDON] Land Securities has sold its stake in the Bullring shopping mall in Birmingham, England, to Australia's Future Fund for £210 million (Ss4B2 million) in one of the biggest UK retail property deals of 2009. News of the sale comes three weeks
      ■ Reuters  -  354 words
    • 367 26  -  KALPANA RASHIWALA By A UNIT at St Regis Residences chalked up the biggest subsale loss in the first eight months of this year: a massive $5 million. But on the flip side, it was also a unit at the same 999-year leasehold
      ARTHUR LEE  -  367 words
    • 1196 26  -  KALPANA RASHIWALA Centris has the most profitable subsales; Montebleu tops in loss-making deals By THE Centris in Jurong West has the highest number of profitable subsale transactions so far this year. Savills Singapore found that 69 units in the development
      1,196 words
    • 819 27 Bloomberg The starting point is to aim for fairer, not higher taxes, says spokesman [PARIS] Liberal Democrat lawmaker Vince Cable outlined plans for a tax on homes worth more than £1 million (552.3 million) and a tightening of rules on capital
      Bloomberg; BLOOMBERG FILE PHOTO ._ _ _./_ j.7_ _ r*~i  -  819 words
    • 149 27 Reuters [LONDON] Pramerica Real Estate Investors, the European property arm of Prudential Financial, is to launch an open-ended fund for institutional investors keen to harness high income returns available in UK commercial property. The Pramerica UK Real Income Fund will invest in a portfolio of assets
      – Reuters  -  149 words
    • 235 27 Reuters [LONDON] Asking prices for homes in England and Wales are on average 1.5 per cent lower this month than a year ago, with the available stock at its lowest for 18 months, property website Rightmove said yesterday. The average asking price
      – Reuters  -  235 words
  • Page 24 Advertisements
    • 61 24 OWN A PIECE OF THE %mii WORLD THAT'S IN A B^ CLASS OF ITS OWN RHH HM HHHH pplllpljpj pi^gjgg EBRI^ sBBBBSBi SI FOR SALE: EXPRESSIONS OF INTEREST CLOSE 23RD OCTOBER 2009 fc&^Z^SSg! Philip Rundle CBRE Jamie Inglis A Inalic +61 412 000 498 S^lS^deSS +61 412 064 442 lO
      61 words

  • INDUSTRIAL SPACE
    • 871 25 Fusionopolis is nothing like the large cold test bed that people often mistake scientific research centres to be HUSHED laboratories, complex equipment and stern researchers in white coats these are the stark images that most people associate with scientific research centres. But
      871 words
    • 1273 28 Singapore has shown its ability to evolve and adapt while maintaining a welcoming environment conducive to long-term investments and economic growth IN last week's Privilege Insights, we discussed some of the main characteristics of wealthy people in Asia and how a carefully designed wealth-management strategy
      ALPHONSUS CHERN/THE STRAITS TIMES  -  1,273 words
  • Page 25 Advertisements
    • 156 25 This series is brought to you by Corporation F*s£' W"ap°i ftl ft -J^ I^T>%«v»*'' C Black Canyon Coffee Koryo (Korean) Restaurant teSm r^ Jsvr&ir Mn^*—~ 1 International Thai Cuisine Shin Nichi Japanese Rochestei' N^tdSon' "J^pTu HM BUllJili ,*j JilJLiAj^ Food Chain Foodcourt The Soup Spoon I **,<>/ I °'™th siopoiis
      156 words

  • Page 26 Advertisements
    • 111 26 \A \<r\ Iw\ Large Dist. 15 site for condo of up to 36 stys oKK-\ V-^ \§r~ 677,493 sf land, 99-year LH, GPR 2.8 r\ /^w&^\ i^pN9w \i\ J^./^^ \-X ldeal North-South orientation «ft -—a%\~~ A- L* Bayshore 300 m unobstructed seaview frontage VA 3 Park 5 (K CatUnA J^~
      111 words
    • 123 26 Very High Yielding Beachfront Lifestyle Hub Ivor Sale Playground Big Splash \a s&/\ >r^f Rare F&B /Retail opportunity IUtiSEE/^*™ %icLa Exciting Beachfront Lifestyle teEpwi^.a^po »sj-^ destination wk Potential 20% p.a. income returns ILV^—^T-^l^-gC^^^^' Ample room to further increase yi%Z- z°\^o£^^ the Net Operating Income It?&^'^ Road Safety £>%ji^, Park High
      123 words

  • Page 27 Advertisements
    • 356 27 I Ai^al^^^^^^^^TT^ I^i^^^i^^m^?^ penonal coaching Kept Secrets of the Rich's /^How to build your property portfolio with ~i Strategies now revealed! little or no money in the shortest time P Creating a regular monthly practical ways of property financing *W^^^| income from your investment mistakes in investing r What are
      356 words
    • 118 27 IPrestigio r^rf^ |at Innovation Place JIIW |Jjw\^ Brand New Freehold Aft Located at Mandai Estate Ol^ i?- *V\ Sizes from 1,432 sq ft f\n^::==^r^^^.^ 18 Near Kranji and Yew Tee JP Ideal for office, showroom, warehouse production *£jj| Good corporate image ftlHMBi H TECHNOLINK tunos DDK Ksr m.r I^^ i^*o.
      118 words

  • Page 28 Advertisements
    • 48 28 PRIVILEGE INSIGHTS This is the third of an eight-part advertorial series brought to you by UOB Privilege Banking l/BANKING Mil XSI fj Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868 E. A member of MCS Circulation Audit. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax 6746-1925.
      48 words