The Business Times, 27 January 2010

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Total Pages: 33
1 34 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Wednesday, January 27,2010
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  • 841 1  -  Banks reportedly told to comply with hike in reserves By OH BOON PING [SINGAPORE] Stock markets across Asia recoiled amid concerns that credit tightening in China had kicked into a higher gear. The giant economy reportedly ordered some banks to
    REUTERS  -  841 words
  • 142 1 ST INDEX 2,740.33 (-71.38) ST INDEX FUTURES 2,740.00 (-71.00) SIMSCI 326.93 (-9.83) SIMSCI FUTURES 326.70 (-9.70) FOREX US$ S$ US$ (S$ per US$) 1.406 (US$/S$ per 1.622 2.281 EURO (US$/S$/E) 1.410 1.982 Foreign currency per US$ S$ YEN 90.10 64.10 RM 3.425 2.436 HK$ 7.774 5.530 BAHT 33.05
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  • 644 1 Mediation option to open next year for those earning up to $4,500 a month By CHUANG PECK MING [SINGAPORE] More junior and mid-level executives who feel shortchanged by their bosses on perks and pay issues may soon be offered a less cumbersome
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  • Page 1 Advertisements
    • 90 1 OPINION Google’s exit may pull plug on other tech giants PAGE 26 HOCK LOCK SIEW Softer interest rates hurt DBS more IMF REPORT Global economic recovery gains pace PAGE 20 PAGE 5 EXEC MONEY Caution over equity valuations in Asia PAGE 34 CORPORATE INVESTMENT BANKING ASSET MANAGEMENT PRIVATE WEALTH MANAGEMENT
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    • 8 1 Productivity growth key focus for panel, Page 2
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  • TOP STORIES
    • 580 2 Simpler way for execs to settle pay disputes MORE junior and mid-level executives who feel short-changed by their bosses on perks and pay issues may soon be offered a less cumbersome way to settle their disputes. A proposed mediation mechanism could be rolled out next year to settle
      580 words
    • 824 2  -  Globally, more than 150 capesize vessels are believed to be stuck By VINCENT WEE [SINGAPORE] The deep freeze in northern China ports has resulted in some of the worst traffic jams ever seen on the seas as the eastern giant’s appetite for
      BLOOMBERG  -  824 words
    • 477 2  -  By EMILYN YAP [SINGAPORE] The government is committed to keeping public housing affordable for Singaporeans, said Prime Minister Lee Hsien Loong yesterday. He was speaking at a gala dinner for the International Housing Conference, organised by the Housing and Development Board
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    • 405 2  -  Strategies Committee will make proposals in report next month By CHUANG PECK MING [SINGAPORE] When the Economic Strategies Committee unveils its proposals for Singapore’s future economic growth next month, a key focus will be on how to boost productivity. Manpower Minister Gan Kim Yong
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    • 39 2 IN our report, “Former StarHub chief joins ST Telemedia” yesterday, we referred to ST Telemedia as an investment arm of Temasek Holdings. Temasek has since clarified that ST Telemedia is a wholly-owned subsidiary and not its investment arm.
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    • 704 4  -  800 companies from 40 countries to showcase their wares on Feb 2-7 2010 SINGAPORE AIRSHOW By VEN SREENIVASAN [SINGAPORE] Asia’s biggest airshow is set to take off just as the aviation industry clambers out of one of its deepest downturns. Over800 companies
      FILE PHOTO  -  704 words
    • 902 4  -  Says he was not a key player in en bloc deal sales committee By MICHELLE QUAH [SINGAPORE] The newest instalment of the Horizon Towers saga has taken a fresh turn, with one of the parties being sued now applying for the lawsuits
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    • 731 4  -  By MICHELLE QUAH [SINGAPORE] Singapore has deferred the adoption of a much-awaited first amendment to fair value accounting, following a similar move by the European Commission late last year. The Accounting Standards Council (ASC) said yesterday that it has decided to
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  • Page 2 Advertisements
    • 299 2 www.itshow.com.sg 11 -14 MARCH 2010 Suntec Singapore Levels 0> 0> 0> 0 0 I.T DIGITAL MOBILE CONSUMER ELECTRONICS EXHIBITION IN SINGAPORE WORTH WAITING FOR wJLi COMING saaixn Plus Win 1st Prize Of S$20 9 000 CASH And Other Cash Prizes (ONE COUPON FOR EVERY $100 PAID OR DEPOSIT PLACED DURING
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  • Page 3 Advertisements
    • 347 3 HSBC can connect y+u to opportunities matter hmvj the investment «r property market turns 4ut Tap on our expertise to find the right fit for your investments. Economic recoveries are rarely straightforward and can take on different shapes and varying time frames. While it is hard to say for sure
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  • Page 4 Advertisements
    • 124 4 HSE HELSINCIN KAUPPAKORKEAKOULU HELSINKI SCHOOL OF ECONOMICS f Meet Our Global Thought L -a 1' A > 1 V Taught by an esteemed faculty of leading thought leaders, the HSE Executive MBA is an answer for those seeking new insights and creative solutions in a time of unprecedented economic challenge.
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    • 21 4 Hot IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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  • COMPANY NEWS
    • 701 5  -  Operating profit up; boost from SPC sale; dividend in specie from K-Green listing By VINCENT WEE KEPPEL Corp had a sterling year, posting a 48 per cent surge in net profit to $1.63 billion for 2009, with the boost coming from higher
      FILE PHOTO  -  701 words
    • 213 5 AIMS AMP Capital Industrial Reit yesterday said a special distribution of 0.95 cent a unit will be paid on March 23. Unitholders with units in their CDP account as at Nov 30 will be entitled to the special distribution with the exception of 221.4
      213 words
    • 652 5  -  HOCK LOCK SIEW By SIOW LI SEN CONTRARY to expectations, interest rates in Singapore have weakened, albeit marginally, from mid-December levels. But while the fall is small, it is not good news for banking giant DBS Group Holdings. The key three-month Sibor or Singapore
      652 words
    • 388 6  -  Stock price hits 10-year high after Holcim raises offer price to $2.50 By JOYCE HOOI THE share price of Jurong Cement Limited (JCL) surged to a 10-year high yesterday, closing 12.1 per cent up at $2.50. The ending price matched the revised voluntary cash offer price
      388 words
    • 381 6 Reit to use proceeds to part finance its acquisition of malls FRASERS Centrepoint Trust (FCT), a shopping centre real estate investment trust (Reit), yesterday launched a private placement of 137 million new units to part finance its acquisition of Northpoint 2 and Yew Tee Point malls.
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    • 351 6  -  By NISHA RAMCHANDANI OFFSHORE marine group Otto Marine plans to raise up to $95 million via a private share placement to boost the growth of its specialised offshore services business and expand its chartering fleet. The placement involves the issue of
      351 words
    • 228 6 TIGER Airways, which recently raised some $233 million from its initial public offering (IPO), yesterday announced that its first owned aircraft has arrived in Singapore following delivery from Airbus in Toulouse, France. This is the first of two aircraft purchased through a landmark financing
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    • 450 9  -  Group also sees higher losses for Q4 despite significantly higher revenue By JOYCE HOOI JIUTIAN Chemical Group’s share price took a beating in the market yesterday, falling 13.9 per cent from $0.18 to $0.155, after the company responded late on Monday night to
      450 words
    • 232 9 NEW Lakeside Holdings issued a profit warning yesterday, expecting to report a pre-tax loss for its fiscal first half ended Dec 31, 2009. This was partially due to a 22.75 million yuan (S$4.68 million) provision a subsidiary had to make because of a bank claim.
      232 words
    • COMPANY BRIEFS
      • 92 9 FRASERS Commercial Trust (FCOT) posted a 31 per cent year-on-year increase in total distributable income for its Q1 ended Dec 31, 2009, from $9.3 million to $12.1 million, of which $4.75 million is available for distribution to Series A Convertible Perpetual Preferred Units
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      • 98 9 FRIVEN Co Ltd announced that following the signing of an investment agreement in September 2009 to acquire 100 per cent of China Children’s Fashion Holdings (CCFH), the two parties have entered into a distribution agreement for the Chinese market. CCFH has been appointed
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      • 74 9 STRATECH Systems has announced a strategic alliance with Itochu Singapore Pte Ltd to market Stratech’s iFerret intelligent Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection System in Japan. Under the agreement, Itochu will market, sell to and deploy, support iFerret at
        74 words
    • 459 9  -  By MICHELLE QUAH A NEW global study shows there’s significant concern among businesses about their ability to retrieve data for litigation or in response to requests by regulators. A survey of senior in-house lawyers at 215 companies by KPMG Forensic found significant concern about
      459 words
    • 164 9 SHANGRI-LA Asia Limited (SA) and Kerry Properties Limited (KPL) have entered into a joint venture through their respective wholly owned subsidiaries for potential real estate development projects in China. Kerry Properties (China) Investment Co Ltd (KPCI) will own a 55 per cent stake of
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  • Page 5 Advertisements
    • 471 5 I am soooooo glad I decided not to cook this year We are a feast of reasons why you'll never need to lift a finger again k> 5\ ''t'Am 1 KT3| I I 1 VA >——JkH > "T ,-^EaJ fe V tr fmcumnDmizicnczicniziQnizimciDmiziQnmcnizimMcraizicniziQniziQnizicnizimizimizimracinmQniziQnizimizicniziQnciamMcnnDcra This Chinese New Year, take a break
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  • Page 6 Advertisements
    • 586 6 Traffic Announcement tor Singapore Airsnow Tampines Ave 7 Tampines Ave 2 Tampines Expy 'O Changi Villaqe a. Airport Boulevard 2 Changi Airport oV e £3A P H °0^ O 5 r,n\[ S\O9 0ip A'; 7 %'ru H ary 2010 Chang Road Ferry Changi Ferry Terminal Carpark 7 Aviation Park Road
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    • 19 6 Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
      19 words

  • Page 7 Advertisements
    • 165 7 i iPhone 3G The fastest, most powerful iPhone yet. r 2 of 50 Inbox 3 Message Figures.xlsx Appendix A: Regional Mix O) out tour primary legem. 1M U.S. has hmonc*»r Mm me Miter in sale*. followed by South America. Eacti market hu ahoiwi liable year over-year returm. and Ma yeer
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  • SINGAPORE MARKETS
    • 927 8  -  Fears over effect of China clampdown on lending, US domestic spending freeze CURRENCIES OH BOON PING Reporter THE woes in the stock markets had a swift effect on forex markets yesterday, as investors dumped high-yields for safe havens. The sell-down came amid
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    • 186 8 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 14 1 0 0 0 1 14 1 Manufacturing 8 152 39 3 11 12 11 163 51 Commerce 4 50 18 0 10 2 4 60 20 Tpt/Stor/Comms 1 36 5
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    • BROKERS’ TAKE
      • 520 8 Keppel Jan 26 close: $3.36 AMFRASER RESEARCH, Jan 26 KEPPEL Land Ltd (KLL) announced that net profit in Q4 FY2009 had surged 56 per cent q-o-q to $107 million. For FY2009, net profit was up 23 per cent y-o-y, meeting 99 per cent of our FY2009F forecast and
        520 words
      • 302 8  -  Compiled by JOYCE HOOI Ying Jan 26 close: $0.555 DBS GROUP RESEARCH, Jan 26 YING Li announced plans to buy two land parcels with gross floor area (GFA) of about 2.5 million sq ft on Wu Yi Road, designated as the new Financial Street by the Chongqing
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    • 119 8 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 38,300 38,300 89,760 89,760 Manufacturing 701,972 34,280 736,252 377,905 2,010 379,915 Commerce 227,846 23,947 251,793 164,970 5,418 170,388 Tpt/Stor/Comms 195,786 15,873 211,659 268,128 4,202 272,331 Finance 48,355 48,355 306,274 306,274 Construction 117,570 35,231 152,801 37,931
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    • 526 8  -  STOCKS R SIVANITHY Senior Correspondent THE bottom fell out of the local stock market yesterday as a combination of fears took grip worries over China’s bank lending restrictions which apparently could choke off a recovery, and an unstable Wall Street which has
      526 words
    • 115 8 Stock name Close Change Stock name Close Change CapitaLand 3.860 -0.180 CapitaMall 1.730 -0.020 CityDev 10.760 -0.240 ComfortDelGro 1.610 -0.020 Cosco Corp 1.240 -0.080 DBS Grp 14.220 -0.480 F&N 4.230 -0.130 Genting SP 1.100 -0.110 Golden Agri 0.505 -0.030 HK Land 4.660 -0.010 JMH 30.020 +0.200
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    • 4 8 DAILY
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    • 63 8 Jan 26 VALUE CLOSE BT OB/OS -1399.00-346.00 BT CADI -*****.00-467.00 BT 10-day MA -*****.00-139.00 FTSE ST Mid Cap 668.47 -27.26 FTSE ST Small Cap 538.72 -25.10 FTSE ST All Share 678.61 -19.97 FTSE ST China Top 277.10 -18.96 FTSE ST China 292.00 -10.46 FTSE ST Catalist 1257.11
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    • 58 8 VOLUME Genting SP 273,430,000 Golden Agri 159,091,000 MAP Tech 58,934,000 Pac Andes 55,477,000 China Milk 54,489,000 Oceanus 49,095,000 CapitaLand 46,815,000 JiutianC 43,920,000 ChinaSports 42,883,000 Ying Li 41,498,000 VALUE($) Genting SP 315,576,310 CapitaLand 183,912,414 DBS Grp 116,223,140 Golden Agri 83,000,130 UOB 74,825,779 Wilmar 74,235,400 Noble Grp 71,560,270 OCBC
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    • 112 8 BY CENTS CLOSE UP DBXT FTVietnam 10US$ 4388 160.2 2.7 DBXT S&P Short 10US$ 5528 81.5 1.1 JMH 3002 28.1 0.7 Jurong Cement 250 27.0 12.1 DairyFarm 605 7.0 0.8 STI 2900 DBePW*****1 48 6.5 15.7 STI 2950BNPePW*****0 54.5 6.5 13.5 DBS MBL ePW*****6 24 5.5 29.7 STI 2750BNPePW*****5
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    • 117 8 BY CENTS CLOSE DOWN DBXT Nifty 10US$ *****-276.8 -1.8 DBXT MSKorea 10US$ 4517-237.5 -3.6 DBXT FTChina25 10US$ 2716-199.5 -5.0 DBXT DJE50 10US$ 4094-153.2 -2.6 NOL.ES.1002 169-131.0 -43.7 GLD 10US$ *****-126.5 -0.8 Lyxor LatinAmerica 1 778-126.5 -10.4 DBXT MSEurope 10US$ 4110-111.0 -1.9 Jardine C&C 2466 -94.0 -3.7 STXPO 100 1472
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    • 87 8 Jan 26 CHNG YR 2010 CLOSE FR Jan 25 S$ LOW S$ HIGH US$ 1.4056 -0.43 1.4056# 1.3869 Euro 1.9815 -0.01 2.0153 1.9723 Pounds 2.2831 -0.98 2.2736 2.2242 A$ 1.2601 0.64 1.2923 1.2601@ Yen* 1.5633 -0.81 1.5633# 1.5027 Rupiah* 0.***** 0.27 0.***** 0.***** Baht* 4.2555 -0.26
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  • Page 9 Advertisements
    • 750 9 S H SIN HENG HEAVY MACHINERY LIMITED SIN HENG HEAVY MACHINERY LIMITED (Incorporated in the Republic of Singapore on 30 March 1981) (Company Registration Number *****1305R) We are one of the leading heavy lifting service providers in Singapore, focusing on the mid-to-high lifting capacity segment. Our customers are mainly in
      750 words

  • SINGAPORE NEWS
    • 389 10  -  Almost two-thirds of respondents look forward to reporting a profitable year By JOYCE HOOI 2009’s bark appears to have been worse than its bite, in retrospect, according to the latest survey coordinated by the Singapore Business Federation (SBF). Close to
      389 words
    • 434 10  -  By ARTHUR SIM MANUFACTURING output increased by 14.4 per cent last month on a year-on-year (y-o-y) basis. And excluding the volatile biomedical manufacturing cluster, output increased by 23.9 per cent. The electronics cluster saw the biggest jump with a 57.3 per cent
      FILE PHOTO  -  434 words
    • 209 10 MEDICAL professionals have a new avenue of private banking available to them after The Standard Chartered Private Bank launched a new service yesterday. The specialised Private Business Banking for medical professionals is an integrated offering that meets both the wealth management and business banking needs
      209 words
    • 440 10  -  By SAMUEL EE ELEVEN more Circle Line (CCL) stations will begin operations on April 17, Transport Minister Raymond Lim announced yesterday. These stations, from Dhoby Ghaut to Bartley, are part of the 10.8 kilometre long second phase of the new 33.3 km
      440 words
    • 205 10 AMERICAN firm Global Compliance is launching a whistle-blower hotline in Singapore in partnership with Q2, a Singapore-based consultancy. Global Compliance’s chief executive officer Jim Burke said the company would soon set up a call centre here to focus on its
      205 words
    • 497 10  -  It is investing up to $400m to ‘repower’ an older plant By RONNIE LIM CHINA Huaneng Group, the new owner of Tuas Power, is spending more big bucks to make the Singapore genco even more competitive. It is investing up to $400
      497 words
  • Page 10 Advertisements
    • 462 10 S$20 DISCOUNT OFF EACH BOOKING FOR 10 DAYS ONLY!* HotelClub.com To celebrate the year of the Tiger we've put all our hotels on SALE! For 10 days only, book your Chinese New Year Holiday at any of our 60,000 hotels worldwide and save S$20. www.hofelclub.com/todQy r r HOT DEALS! This
      462 words

  • Page 11 Advertisements
    • 258 11 (Z)L£XU5 THE PURSUIT OF PERFECTION POWERFUL DRIVE FOR POWERFUL PEOPLE. THE NEW LEXUS LS FULL HYBRID. m LS Hybrid ■»y o With a Lexus Full Hybrid, experience instant acceleration power, a smoother driving feel, and optimum fuel efficiency with ultra-low emissions. As the most technologically advanced vehicle ever produced by
      258 words

  • ECONOMY WATCH
    • 617 12  -  S&P cuts its outlook to negative; BOJ concedes price falls may speed up By ANTHONY ROWLEY PRESSURE intensified yesterday on the government to find a way out of escalating debt and chronic deflation as rating agency Standard Poor’s downgraded Japan’s sovereign debt rating and
      AP  -  617 words
    • 299 12 Bloomberg [WASHINGTON] President Barack Obama will call in his State of the Union address for a three-year freeze on spending for many domestic programmes as part of his strategy to rein in the deficit, administration officials said. The proposal, which
      Bloomberg  -  299 words
    • 416 12 Interest paid on bank reserves may replace Fed funds rate Bloomberg [WASHINGTON] Federal Reserve policymakers are considering adopting a new benchmark interest rate to replace the one they have used for the last two decades. The central bank has been unable to control the
      Bloomberg  -  416 words
  • Page 12 Advertisements
    • 118 12 BBoWoiFiBfoH a |T| TMMMfcll® [MIMSMSif; PROSPERITY •AG K'AG m vk i Admission to @Hibiscus i Buffet Lunch i Gift pack with racebook, collectable souvenir and other goodies U m M-J15 CS T m m Free Entry to Upper Grandstand (L2) For those born in the year of the Tiger (Identity
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    • 73 12 V ■A WS *D m <5 ~i 0 (D What the box brings, is what the ocean brings. That's what goes on our menu, and onto your plate, Japan's freshest, most exquisite unknown awaits you at the rooftop of Orchard Central. Welcome to Kuriya Penthouse, a Japanese dining experience above
      73 words

  • MALAYSIA/INDONESIA
    • 566 13 Smaller banks may become takeover targets should merger pan out Reuters [KUALA LUMPUR] Malaysian billionaire Quek Leng Chan’s latest gamble to gobble up one of the country’s smallest banks could set the stage for a new round of deal making
      Reuters  -  566 words
    • 329 13 Reuters [JAKARTA] Indonesia will delay an end-2010 deadline requiring investors to own only a single bank in South-east Asia’s largest economy, giving the government more time to work out what to do with its stakes in four banks. The policy, originally set for
      Reuters  -  329 words
    • 348 13 GDP will expand 5% in 2011, says research institute Bloomberg [KUALA LUMPUR] Malaysia’s gross domestic product may rebound this year from a contraction in 2009 amid signs the global economy is recovering from the worst recession since the 1930s, the Malaysian Institute of
      Bloomberg  -  348 words
    • 269 13 It recognises need to prevent build up of financial imbalances Bloomberg [SINGAPORE] Malaysia’s central bank kept its benchmark interest rate unchanged, while saying that borrowing costs cannot be kept too low for too long as economic growth in the South-east Asian nation strengthens.
      Bloomberg  -  269 words
  • Page 13 Advertisements
    • 427 13 I I asciano delta lloyd groep EUR 1,000,000,000 Accelerated Bookbuilt Offering Joint Bookrunner AUD 2,350,000,000 Placement and Rights Issue Joint Lead Manager and Underwriter EUR 1,016,000,000 (pre-greenshoe) Initial Public Offering Joint Bookrunner USD 2,875,000,000 Convertible Bond Offering Joint Bookrunner June 2009 RioTinto November 2009 m noble group November 2009 sanofi
      427 words

  • GREATER CHINA
    • 433 14 It will affect demand for building materials, says hedge fund manager Bloomberg [NEW YORK] Raw materials producers that sell to China may be hurt by slowing demand because the nation’s real estate market is poised for a “stumble”, according to hedge fund
      Bloomberg  -  433 words
    • 487 14 Complex legal issues, so Citic case to shift from tribunal to court Bloomberg [HONG KONG] Larry Yung, Citic Pacific Ltd’s chairman when it warned of a potential US$2 billion in currency losses, has won his bid to defend Hong Kong shareholders’ claims
      Bloomberg  -  487 words
    • 417 14 Reuters [BEIJING] China must let the yuan rise because its undervaluation is fuelling domestic economic imbalances, such as a stunted services sector, a Chinese researcher said yesterday. “China’s exchange rate is distorted, and China has been undervaluing the yuan to keep
      Reuters  -  417 words
  • Page 14 Advertisements
    • 176 14 H ,V ,/-4 t The name may be new, but we are definitely not a newcomer to Asia. In fact, we have a proud history that stretches back almost a century in Asia and more than 80 years in Singapore. Today, Chartis provides a full spectrum of property-casualty and general
      176 words

  • INDIA
    • 443 15 50% jump from ’09 to be driven by govt stake sales; power, property IPOs Reuters [MUMBAI] JPMorgan expects share sales in India to reach as much as US$30 billion in 2010, a 50 per cent increase, led by government stake sales and IPOs
      Reuters  -  443 words
    • 385 15 Swell in numbers mainly from new Reliance refinery Bloomberg [NEW YORK] India more than doubled its exports of petroleum products to the US last year after Reliance Industries Ltd started a refinery for exporting, according to tanker data collected by Clarkson Research Services
      Bloomberg  -  385 words
    • 458 15 AFP [NEW DELHI] Blanket fog obscured India’s 60th Republic Day celebrations yesterday, with the annual military parade here held under heightened security due to fears of militant attacks. Before the ceremonies kicked off, Indian and Pakistani troops exchanged fire along their border
      AFP; AP  -  458 words
  • Page 15 Advertisements
    • 102 15 AIR ASIA A Introducing 6 new dir New Delhi \\CP S INDIA \(D Fly from Kuala Lumpur Mumbal (4x weekly) I Hyderabad (Daily) Chennai Bangalore*— from$ one way (Daily)l Koch (Daily) Trivandrun (Daily) mang Kuala Lumpur Singapore BOOKING PERIOD: 27- 31 JANUARY 2010 BOOK NOW AT AIRASIA.COM OR VIA MOBILE.AIRASIA.COM
      102 words

  • ASIA-PACIFIC
    • 640 16 Producers to post robust recoveries on strong year-end sales, say analysts Reuters [TOKYO] Japanese electronics makers will likely post robust recoveries in quarterly earnings, aided by their strong year-end sales, according to analysts. Further low post-holi-day inventory bodes well for their outlook. After the global downturn
      Reuters  -  640 words
    • 328 16 Bloomberg [TOKYO] KDDI Corp has agreed to buy Liberty Global’s 38 per cent stake in cable-television operator Jupiter Telecommunications Co for US$4 billion. KDDI, Japan’s second-biggest mobile-phone operator, is paying the cable company, controlled by billionaire John Malone, about 140,000 yen (S$2,196) per
      Bloomberg  -  328 words
  • Page 16 Advertisements
    • 501 16 WINE DINE AND HOSPITALITY Bountiful Indulgences at Hai Tien Lo Celebrate with classic Cantonese and varieties of yu sheng. (1 to 28 February) Veritable Feasts at Global Kitchen Feast to your heart's content with all-you-can-eat lunch or dinner and auspicious yu sheng. 1 2 to 14 February) Exquisite Tidings at
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  • Page 17 Advertisements
    • 1652 17 Corporation Keppel Corporation Limited Co Reg No: *****0351N (Incorporated in the Republic of Singapore) FULL YEAR 2009 FINANCIAL STATEMENT DIVIDEND ANNOUNCEMENT 1. UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2009 The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the year ended 31
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  • Page 18 Advertisements
    • 221 18 The new Audi A5 Sportback. The COU pG you've always wanted now appeals to every angle of your life WWW I 4k--r 1 r*.-* V v 'Ai>'' $SPftS i' *«5 *»*:'^5^, ®V> £5&3 MS& II ,3 EK 8 w--A', V2 »:1 B ms IN 4 5015 a The Gran Turismo
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  • ASIA-PACIFIC/WORLD
    • 635 20  -  It forecasts 3.9% growth in 2010 with Asia led by China being main driver By Anthony Rowley THE global economy was given a cleaner bill of health by the IMF in its latest bi-annual World Economic Outlook (WEO) published last night, which predicted
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    • 344 20 LATEST US DATA Bloomberg [NEW YORK] Confidence among US consumers rose in January to the highest level since September 2008 as the labour market improved and Americans became more upbeat about their immediate future. The Conference Board’s confidence index increased to 55.9, higher than the
      Bloomberg  -  344 words
    • 425 20 Bloomberg [FRANKFURT] Porsche, maker of the 911 sports car, was sued by short sellers in Volkswagen stock who claimed Porsche secretly cornered the market in Volkswagen shares and later caused them more than US$1 billion in losses. The suit was filed yesterday
      Bloomberg; AP  -  425 words
  • Page 20 Advertisements
    • 69 20 HOW TO RUN A BUSINESS WITHOUT RUNNING OUT OF IDEAS. It’s when you know How to optimise resources Where to uncover opportunities Where the new markets are When to make a move What others did right What mistakes to avoid What’s going on around you Who’s ahead and who’s catching
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  • WORLD
    • 568 21 The payments have been labelled a ‘back-door bailout’ for the big banks Reuters [WASHINGTON] A United States bailout watchdog has launched two investigations into the New York Federal Reserve Bank’s actions on insurer AIG’s disclosure of payments to banks after its 2008
      Reuters; BLOOMBERG  -  568 words
    • 417 21 Reuters WP [NEW YORK] American International Group (AIG) has decided not to sell its aircraft leasing unit International Lease Finance Corp (ILFC), the Financial Times said, citing people close to the situation. AIG has realised that it will not reap a
      Reuters; WP; AP  -  417 words
    • 278 21 Reuters [LONDON] Britain crept out of recession in the fourth quarter of last year but only just. With a far weaker growth rate than expected, any monetary tightening remains a long way off, the data suggested. The Labour government has been banking on
      Reuters  -  278 words
    • 726 22 There is a shift in conduct from closed and discreet to open and political NYT [NEW YORK] When Time Warner Cable was tussling over fees with News Corp, it did something that would have been unthinkable in the backrooms where deals were once struck: It
      NYT; REUTERS  -  726 words
    • 483 22 NYT [NEW YORK] Despite a crippling recession and tight credit markets, the American wind power industry grew at a blistering pace in 2009, adding 39 per cent more capacity. The country is close to the point where 2 per cent of its electricity will
      NYT  -  483 words
  • Page 21 Advertisements

  • Page 22 Advertisements
    • 144 22 k v r If K s s »> **w %w, K '^tek I ""V I#55* I «W *A ht ft Mt «tK K S S 5? ENGAGE THE NEWS AUDIENCE with The AsiaOne Network. Whatever your marketing theasiaone direction, you can attract your desired readers with the different perspectives and
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  • Transport HUB
    • 602 23  -  Domestic and export expansion in China, power projects in India to lead growth By VINCENT WEE THE breakbulk sector lags container shipping by about two quarters so for most of the players, 2009 was still a good year although this year will see
      BLOOMBERG  -  602 words
    • 286 23 SGX '000 Jan 26 S$ +/-Vol CH Offshore 0.65 -0.05 3174 Chuan Hup Hldgs 0.32 -0.01 100 Cosco Corp 1.24 -0.08 ***** CWT Ltd 0.88 -0.02 8383 Ezra Hldgs 2.19 -0.13 9352 First Ship Lease 0.60 unch 3201 Freight Links 0.05 -0.01 525 Grand Banks 0.42 -0.01 2
      286 words
    • 368 23 Bloomberg [LONDON] The Baltic Dry Index, a measure of shipping costs for commodities, posted a third climb on demand to hire iron ore and coal carriers. The index tracking transport costs on international trade routes rose 19 points, or 0.6 per
      Bloomberg  -  368 words
    • 949 23  -  Confidence has stabilised but worries over vessel overbuilding, rates persist STRAIT TALK By DAVID HUGHES BACK in May 2008, international accounting and consulting group Moore Stephens decided to carry out a shipping confidence survey. It has repeated the exercises every three months since then. The surveys
      949 words
    • 274 23 Bloomberg [LONDON] The supply of supertankers waiting to collect 2 million-barrel cargoes of Middle East crude oil expanded for the first time in three weeks after demand for the vessels dropped. There are 10 per cent more very large crude carriers, or
      Bloomberg  -  274 words
    • TRANSPORT HUB: AVIATION
      • 512 24  -  CEO quits, S’pore ops winding down, huge plane order hangs in the balance By VEN SREENIVASAN TATA-BACKED and Indi-an-owned Bjets, which roared to the headlines two years ago by announcing a 50 business jets order and said it would become Asia’s largest fractional executive jet
        512 words
      • 415 24  -  Building will test-bed new gravel filtration system By VEN SREENIVASAN JTC Corporation (JTC) has awarded the $9.6 million contract for the construction of the Business Aviation Complex (BAC) at Seletar Aerospace Park (SAP) to Eng Lim Construction Co Pte Ltd. The seven-storey mul-ti-tenanted building
        415 words
      • 229 24 Bloomberg [TOKYO] Mizuho Financial Group Inc will be the biggest lender to the Japanese state-affiliated fund helping to restructure Japan Airlines Corp (JAL), said three people with knowledge of the matter. Enterprise Turnaround Initiative Corp of Japan last week agreed to borrow money
        Bloomberg  -  229 words
      • 459 24 AP Bloomberg [WELLINGTON] Air New Zealand yesterday said it will set a new benchmark for longhaul flights by offering beds in economy class, but they come with a catch passengers need to buy three seats to enjoy lie-down travel. The airline’s
        AP; Bloomberg  -  459 words
      • 167 24 AFP [THE HAGUE] Two investment companies, Irish and German, will ask a Dutch court tomorrow for a probe into the running of European aerospace giant EADS, the court said on Monday. The companies tribunal in Amsterdam will hear an application by
        AFP  -  167 words
      • 2895 24 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi EY470 2200 SQ456 1245 Adelaide LH9771 1740 9W4082 2215 SQ268 1740 AF8088 2215 VS7268 1740 BA7382 2215 --JL5083 2215 QF82 2215 LH9770 2350 SQ269 2350 VS7269 2350 Ahmedabad AI7200 0710 NH6293 0710 SQ531 0710 Amsterdam LO4031 0610 LO4032 2350
        2,895 words
    • TRANSPORT HUB: LAND
      • 748 25  -  China bus brands accounted for about two-thirds of private buses sold last year By SAMUEL EE MORE and more Chinamade buses are plying Singapore roads, with demand being fuelled by the Integrated Resorts (IRs). There are nine China bus brands in Singapore and together,
        ARTHUR LEE  -  748 words
      • 553 25  -  Korean makes set for population boom in next five years By SAMUEL EE SALES growth may not necessarily lead to population growth if an automotive brand attracts more replacement buyers than new ones. Take Hyundai, for example. The top Korean make jumped from
        553 words
  • Page 23 Advertisements
    • 44 23 THE UNIVERSITY OF CHICAGO APPLICATIONS ARE NOW OPEN FOR The University of Chicago's Master's Degree in Financial Mathematics Program in Singapore for the Academic Year Beginning September 2010 For Information and Online Application Visit: http://finmath.uchicago.edu or send email to karen.teo@math.uchicago.edu Phone: 65 6238 2109
      44 words

  • Page 24 Miscellaneous
    • 347 24 CRYPTIC CROSSWORD Across 1 Christmas morning? Quietly scarper (6) 4 Where Cinderella goes at end of panto, away on coach (3-5) 9 Lucky things to find in crackers? (6) 10 Big copper’s ex gets to greet under the mistletoe (8) 12 Carried away like a Christmas present will be, we
      347 words

  • Page 25 Advertisements
    • 146 25 Power is in your if you can tame sXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX X XIX111 w *l r *1 vv 4; h d n i \ummmiim Power isn't just exceptional with the -Jaguar XK. It is extraordinary. A breathtaking 5"IOps of supercharged power to take you from O to lOOkm/h in a mere A.
      146 words

  • EDITORIAL & OPINION
    • 484 26 EDITORIAL THIS week, the US Senate will vote on whether to reappoint Ben Bernanke, present chairman of the Federal Reserve, to a second term. By some accounts and after the Democratic Party’s loss of a Senate seat in Massachusetts (a key Democrat stronghold) to
      484 words
    • 773 26  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator FOR all the talk of an America in decline and a rising China, the crisis triggered by the devastating earthquake in Haiti is a reminder of the
      773 words
    • 1229 26  -  The US-based company’s spat with China raises issues of censorship and cyber-attacks AMIT ROY CHOUDHURY Senior Correspondent US SECRETARY of State Hillary Clinton’s strong speech on Internet freedom last Thursday put the spotlight firmly on Google’s spat with China
      REUTERS  -  1,229 words
    • 1928 27  -  While the terror of the financial crisis may have abated, the nervousness of the recovery has only just started MIKE REES Michael Rees is CEO, Wholesale Banking, and group executive director at Standard Chartered Bank. The above article is an excerpt from a
      REUTERS  -  1,928 words
    • 612 27  -  SHADA ISLAM Brussels Correspondent IF ONLY the world would stop for Europe. As the tragedy continues to unfold in Haiti and the US takes the lead in humanitarian relief efforts in the country, EU policymakers have become entangled in an acrimonious debate on Europe’s
      612 words


  • SINGAPORE STOCKS
    • 8988 28 Transaction date: Jan 26 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 3 3148 8Telecom 16 -0.5 1140 16.5 16 16 16.5 5 0.7 29.1 76.6 10 2.5 5834
      8,988 words
    • 1735 29 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 s AA Grp 5 4.5 5.5 4.8 25 12 8538 t APStrategic 16 14 16 94.4 4 0.5 1501
      1,735 words
    • 9344 29 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.2/ APS Alpha Fund (USD)!** 0.86/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.7/ Aberdeen Asset Mgt Asia Limited American Opp 0.6322/ Asian Credit Fund 1.2176/ Asian
      9,344 words
    • 516 29 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 111 107 6389 ABF SG Bond ETF 109 +2 40 109 109 108 109 497.6 846 427 CIMBAsean40 100US$ US805 -15 500 805 805
      516 words
    • 262 29 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 20 6000 AVJennings A47.5 -0.5 18 48 47.5 47.5 49 3.6 7.4 3.8 123.7 31 6 6017 Genting HK US$ US22.5 -1 3641
      262 words


  • FINANCE & COMMODITIES
    • 365 30 In local curr In S$ In US$ dy yr dy yr dy yr Jan 25 Index Change Change Change Change Change Change World Index Preliminary 817.5 -0.2 20.6 -0.4 21.3 -0.1 24.8 EAFE Preliminary 770.8 -0.7 18.7 -0.8 22.3 -0.6 25.8 Europe Preliminary 1090.7 -0.8
      365 words
    • 199 30 Jan 26 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Feb 10 322.0 133.0 309.9 14 599 Mar 10 320.4 133.0 308.0 30 566 Apr 10 308.5 162.5 308.5 20 460 May 10 321.0 213.5 310.0 0 646 Jun
      199 words
    • 88 30 Jan 26 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 29.04.2010 0.47 1-Year BY*****N 01.11.2010 0.49 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****H 3.625 01.07.2011 104.39 104.40 104.37 5-Year N*****0N 1.375 01.10.2014 100.51 100.63 100.45
      88 words
    • 132 30 Jan 26 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2550 1.2930 Can dollar 1.3150 1.3310 Euro 1.9690 1.9910 NZ dollar 0.9920 1.0130 Sterling pound 2.2610 2.2860 US dollar 1.3900 1.4060 Local dollars to 100 units of foreign
      132 words
    • 180 30 Jan 26 $S Offer Bid Overnight 0.05 par 1-month 7/16 3/16 2-months 9/16 5/16 3-months 11/16 7/16 Overnight mode: 0.02 US$ Offer Bid 7 days 0.23 0.18 1 month 0.28 0.23 2 months 0.35 0.25 3 months 0.37 0.27 6 months 0.50 0.40 9 months 0.90 0.60 12
      180 words
    • 2598 30 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3.5 1 15 16 4.57 52 2036 Advance SCT Ltd W*****9 0.5 1 87 1844 9.00 7 8756 Asiatic Grp (H) Ltd W*****2 9.5 1 3
      2,598 words
    • 68 30 Jan 26 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 10 2435 2420 2452 2410 538 2246 Mar 10 2430 2410 2455 2407 3499 ***** Apr 10 2445 2407 2458 2407 ***** ***** May 10 2449 2411
      68 words
    • 26 30 Jan 26 Jan 26 S$ Bid Offer 1-month 1.4056 1.4069 2-months 1.4059 1.4073 3-months 1.4063 1.4076 6-months 1.4071 1.4084 Source: OCBC Source: OCBC
      26 words
    • 29 30 Jan 26 Open High Sett STI Jan 2803 2803 2740 SIMSCI Jan 337.1 337.5 326.7 Taiwan Jan 282.4 284.2 274.5 Source: MF Global (S) Pte. Ltd
      29 words
    • 85 30 Jan 26 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 6521 31 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN RTM/ANR/TIL *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN NOL/CDN *Loads E./W. Malaysia,
      6,521 words
    • 353 30 Jan 26 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar10 99.7100 0 ***** Jun10 99.6050 0 6660 Sep10 99.3650 0 2503 Dec10 99.0250 0 2953 EUROYEN TIBOR FUTURES Mar10 99.5800 99.5800 99.5750 99.5750 586 5246 Jun10 99.6300 99.6300 99.6300 99.6150 80 1621 Sep10 99.6450 99.6500 99.6450
      353 words
    • 465 30 Jan 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.952 6.125 0.636 6.975 41.233 84.377 0.808 10.437 3.072 1.265 75.921 41.798 1.261 6.848 0.937 28.745 29.651 0.553 0.897 Canada 1.050 6.433
      465 words
    • 146 30 Jan 26 GOLD (US$/oz) Jan 26 Jan 25 Hong Kong 1094.40 1099.10 Jan 22 Jan 25 London 1091.60 1095.35 1092.40 1096.15 Source: Thomson Reuters Source: Thomson Reuters CAST BAR Jan 26 (S$) Selling Buying Kilobar "53,262.46" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 119.84 50 5gm 339.19
      146 words
    • 154 30 Jan 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2605 1.2621 0.8970 0.8973 Canadian dollar 1.3240 1.3255 0.9422 0.9424 Euro 1.9803 1.9830 1.4093 1.4099 NZ dollar 0.9960 0.9973 0.7088 0.7091 Sterling pound 2.2794 2.2818 1.6221 1.6223
      154 words
    • 69 30 Jan 25 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2211.25 2200.75 3 months 2242.00 2231.00 Copper, Grade A (US$/tonne) Cash 7441.25 7367.50 3 months 7465.00 7390.00 Lead (US$/tonne) Cash 2196.25 2213.75 3 months 2220.00 2237.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 105 30 Jan 25 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 10 940.50 951.50 956.00 935.25 May 10 949.50 959.25 964.00 943.50 Jul 10 956.25 964.75 970.00 950.25 Aug 10 950.00 958.25 962.00 949.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Mar 10 36.50 36.71 36.99
      105 words
    • 77 30 Jan 25 COCOA (£/tonne) Close Prev High/Low Mar 10 2324 2340 2340/2318 May 10 2326 2341 2344/2320 Jul 10 2307 2322 2325/2303 Sep 10 2276 2292 2300/2275 COFFEE (US$/tonne) Close Pev High/Low Jan 10 1329 1325 1342/1323 Mar 10 1364 1360 1385/1363 May 10 1397 1393 1416/1395 SUGAR (US
      77 words
    • 77 30 CRUDE OIL PRODUCTS Jan 25 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 73.11 -0.47 WTI (Near Mth) 75.19 1.34 Dubai (1-Mth F) 73.10 -1.64 Tapis blend 76.20 -1.75 Minas 75.55 -1.75 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 76.55 -1.75 Jet Kerosene 81.15 -2.00 US$/barrel Opec Oil
      77 words
  • Page 30 Advertisements
    • 108 30 The more you trade, the more you save. Enjoy automatic rebates and lower commissions Make huge savings on FX and Singapore shares FX spreads from 1 pip Always guaranteed market prices on shares Learn more about our automatic rebates for frequent traders at igmarkets.com.sq CFD trading can result in losses
      108 words

  • Page 31 Advertisements
    • 29 31 Shipping lines seeking reliable |gqisti« partners Can tzhey find your services Here in -the Shipping Times? TO ADVERTISE, CALI IOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIIVIES
      29 words

  • Page 32 Advertisements
    • 30 32 Experienced sh/p maintenance services wanted. inX Shipping Times? Legal services required by shippers owners TO ADVERTISE, CALL JOE WOIMG AT Can they find your services here in the Shipping Times?
      30 words

  • Page 33 Advertisements
    • 454 33 XBRL Reporting from $180* www.xbrl-filing.com.sg Whether you are looking for real value or speed, you can now have your XBRL report for as low as $180* or obtain your report in as short as 2 hours*. Our enhanced tool has enabled us to pass on immense savings, so avail yourself
      454 words
  • executive Money
    • 1206 33  -  Latest developments tilt balance towards a priority for risk management over a mere pursuit of reward MONEY MATTERS NORMAN VILLAMIN The writer is Citi’s head of investment analysis advice, wealth management, Asia-Pacific Opinions expressed herein should be regarded solely as general market commentary, and may change without
      1,206 words
    • 846 33 Investors need to take heed of the dangers they face in the markets this year NYT [NEW YORK] AFTER one of the most volatile periods for stocks in decades, it’s only natural for investors to wonder how risky the markets will be in 2010.
      NYT  -  846 words
    • 897 34  -  Barclays tells clients to adjust their portfolios towards stocks that benefit in a mid-cycle phase, which include less-cyclical stocks such as pharmaceuticals, utilities and consumer staples, reports GENEVIEVE CUA GENEVIEVE CUA AMID the general optimism over equities in Asia and the emerging markets, strategists
      Source: Datastream, Barclays Wealth Strategy  -  897 words