The Business Times, 19 March 2010

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Total Pages: 34
1 34 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Friday, March 19,2010
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  • 608 1  -  It may list in HK after scathing report in US on Pansy Ho, its Macau partner By ARTHUR SIM [SINGAPORE] The New Jersey Casino Control Commission has released a report that details why it considers Pansy Ho, daughter of Macau casino tycoon Stanley Ho,
    BLOOMBERG  -  608 words
  • 141 1 ST INDEX 2,913.94 (-5.36) ST INDEX FUTURES 2,914 (-5) SIMSCI 347.01 (-0.65) SIMSCI FUTURES 347.30 (+0.20) FOREX US$ S$ US$ (S$ per US$) 1.395 (US$/S$ per 1.526 2.128 EURO (US$/S$/E) 1.365 1.904 Foreign currency per US$ S$ YEN 90.10 64.60 RM 3.310 2.373 HK$ 7.762 5.565 BAHT 32.31
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  • 951 1  -  MAS proposes filling at least half the board positions with IDs By CONRAD TAN [SINGAPORE] Banks and big insurers here will have to fill more than half the positions on their boards and key board committees with independent directors, instead of
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  • Page 1 Advertisements
    • 73 1 WINE Mature Burgundies and Bordeaux CORPORATES Parkway’s new shareholders play it cool PAGE 2 CURRENCIES MNCs caught in yuan war crossfire PAGE 2 PAGE 33 EXEC LIFESTYLE Feast of film fests PAGE 29 Lots to worry about despite recovery Barry Eichengreen, professor of economics at the University of California, Berkeley,
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  • TOP STORIES
    • 664 2  -  Economists predict China currency to start appreciating by as early as Q2 By TEH SHI NING [SINGAPORE] Multinational companies, particularly those exporting out of China to the US, could be caught in a bind amid rising tensions between the two powers over the dol-lar-pegged
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    • 447 2  -  Speculation rises it may invest more in US gaming industry By S JAYASANKARAN GENTING Malaysia continued to nibble on high-yield-ing debt paper issued by its American peers, snapping up US$18 million of 9 per cent, 10-year notes issued by MGM Mirage on Wednesday. It’s
      447 words
    • 560 2 Bank boards may get a shiny streak of independence BANKS and big insurers here will have to fill more than half the positions on their boards and key board committees with independent directors, instead of the minimum one-third now, under new proposals to strengthen the corporate governance of
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    • 646 2  -  Fortis buys more Parkway shares, but keeps its cards close to its chest By CHEN HUIFEN [SINGAPORE] The incoming shareholders of Parkway Holdings are wasting no time in getting closer to their new partners. Within a week of announcing the deal to buy
      BLOOMBERG  -  646 words
    • 355 2  -  Official launch of Phase 1 med suites will be on March 26 By CHEN HUIFEN [SINGAPORE] Healthcare services provider Parkway Holdings will be targeting doctors that are not already in its system for the impending launch of the medical suites at the new Novena
      355 words
    • 683 4  -  Move will allow him to travel to 30 European countries with Schengen visa By LEE U-WEN [SINGAPORE] As tens of thousands of Thai anti-gov-ernment protesters continue their dogged demonstrations in Bangkok, no one knows for sure exactly where Thaksin Shinawatra the
      AFP  -  683 words
    • 450 4  -  Maintenance of gasfields results in supply shortfall here By RONNIE LIM [SINGAPORE] Singapore’s latest Indonesian gas glitch involving a shortfall in supplies from West Natuna since last month is expected to be resolved around May, BT understands from sources. It is due
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    • 112 2 INCENTIVIZE 7%, YOUR With the Government exhorting organizations such as yours to upsize your staff's productivity, here're some exciting ideas to raise it in a fun way. You can also use this opportunity to show appreciation to your staff for sticking by you when the going got tough during the
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    • 21 2 SCORE CARD Keep your investors informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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    • 10 2 Stress tests to gauge impact of yuan appreciation, Page 17
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  • Page 3 Advertisements
    • 1056 3 ADVERTORIAL Unparalleled Superiority Embracing magnificent views of the West Coast shore front and situated in a prime residential development, The Vision serves as an iconic dream home ty configuration in Singapore were also sold. The most expensive strata terrace unit went for $3.2 million. Cheung Kong eventually launched more units
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  • Page 4 Advertisements
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  • COMPANY NEWS
    • 583 6  -  It provides flexibility for acquisitions and asset enhancement initiatives: Goldman By UMA SHANKARI CAPITACOMMERCIAL Trust’s (CCT) second major fund-raising exercise in less than a year could pave the way for the office landlord to improve its portfolio, analysts said. The trust on Wednesday said
      583 words
    • 770 6  -  HOCK LOCK SIEW By R SIVANITHY IN recent months, it has become somewhat fashionable for Singapore Ex-change-listed companies to declare an intention to seek a dual listing in Hong Kong, citing “higher valuations”, possibly “better liquidity” and “ease of fund raising” as the main reasons.
      770 words
    • 412 6  -  By EMILYN YAP PROSPECTS for real estate investment trusts (Reits) in Singapore remain challenging as there will be a greater supply of office, industrial and retail space coming onstream, said Moody’s Investors Service yesterday. The rating agency kept its outlook for the sector
      412 words
    • 393 8  -  Contract from ConocoPhillips takes landed deals this year to $810m By VINCENT WEE SEMBCORP Marine seems to be edging into an early lead in the order book race, with its SMOE unit yesterday securing a $550 million contract from ConocoPhillips to build the top side
      393 words
    • COMPANY BRIEFS
      • 81 8 DAYEN Environmental Ltd has been awarded a $6.55 million contract by the Public Utilities Board (PUB) to undertake the engineering, procurement and construction work for a pumping station with a capacity of approximately 68,000 cubic metres per day. The project, within the
        81 words
      • 105 8 COURAGE Marine Group said that it has successfully launched its newly acquired pre-owned vessel. MV Cape Ore, with a capacity of approximately 130,000 dwt, joined the fleet on Wednesday. It will service the Asia region, mainly delivering coal, iron ore and bauxite. With its larger
        105 words
      • 131 8 FRIVEN Co Ltd said that Sheares Asia Production Pte Ltd, in which it is in the process of acquiring a majority stake, has entered into a collaboration agreement with Singapore Science Centre to host the world renowned Pixar: 20 Years of Animation Exhibition. The
        131 words
    • 200 8 Reuters [SYDNEY] Australian energy firm SP AusNet, part owned by Singapore Power, has priced A$300 million (S$384.7 million) of 7.5-year notes at 160 basis points over swap to refinance debt, it said yesterday. The offer, launched as a A$200 million size deal but
      Reuters  -  200 words
    • 562 8  -  Good prospects for cross-border business combinations here By LYNETTE KHOO IS Singapore ready for SPACs special-purpose acquisition companies that raise cash to buy up others? Yes, says international law firm Maples and Calder. The listing of SPACs would draw more capital
      562 words
    • 464 12  -  PrimePartners suggests trading halt or suspension if FM does not reply by the deadline next Tuesday By JOYCE HOOI FM Holdings has been given until trading opens next Tuesday to answer a barrage of queries by its sponsor, PrimePartners Corporate Finance Pte Ltd.
      464 words
    • 479 12  -  Universal Studios opens to the public, but not to full capacity By ARTHUR SIM GENTING Group chairman Lim Kok Thay says the performance of the casino at Resorts World Sentosa is “on track” and “I expect it to go above our own expectations”.
      479 words
    • 265 12  -  By VEN SREENIVASAN TIGER Airways and Standard Chartered Bank have inked two new multi-mil-lion-dollar financing deals for pre-delivery payments (PDPs) on six aircraft from Airbus and the purchase of a further seven A320 aircraft. Stanchart is arranging a structured PDP financing arrangement for Tiger, relating
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  • Page 6 Advertisements
    • 191 6 IT'S A CELEBRATION AND EVERYONE IS INVITED FOR THE FIRST TIME IN SINGAPORE, A GATHERING OF THE EXPAT COMMUNITY HALL 401 20 SUNTEQmNGAPORE j r i Don't miss this exciting opportunity to meet new friends and enjoy the incredible array of products and services that make Singapore such an attractive
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  • Page 7 Advertisements
    • 224 7 It s Hot Because it's just a heartbeat from Orchard Road and you are in the thick of it. It's Cool Imaginatively designed for the urban elite, with a certain panache that makes you stand apart. It's Mesmerizing A multi-faceted sculpture by day, a lyrical and dazzling work of art
      224 words

  • Page 8 Advertisements
    • 20 8 H >,ii IP m •M. Wk., i s I i 7 v x <Ji 'w V s GIORGIO ARMANI Singapore
      20 words
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  • Page 9 Advertisements
    • 300 9 SAI WA! ATLAI ATLAN DALLAS J LOS AN' NEW ORLI NEW YORK-'' SAN DIEGO ITI, r HOBOKEI IOLLYWOO NEW YORK 'YORK-TIMES SQ' :CO SCOTTSDALE SI BARCELONA ISTANBUL ■AD ATLANTA i STON CHICAGO-CITY CENT 'RT MALDIVES WONG KONG H uc O CITY MIAMI BEACH ORLEANS FR :ANY NEW YO SAN FRANCISC
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  • SINGAPORE MARKETS
    • 590 10  -  Weak HK session, Europe opening and 130-point run-up since March 5 lead to ST index losing 5 points STOCKS R SIVANITHY Senior Correspondent HONG Kong’s weakness probably played a pivotal role in yesterday’s 5.36-point loss in the Straits Times Index to 2,913.94, although just as
      Source: Bloomberg  -  590 words
    • 4 10 DAILY
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    • 66 10 Mar 18 VALUE CLOSE BT OB/OS 633.00 +107.0 BT CADI -*****.00 -49.0 BT 10-day MA -*****.00 +63.00 FTSE ST Mid Cap 698.74 -2.66 FTSE ST Small Cap 554.33 -0.46 FTSE ST All Share 718.48 -1.51 FTSE ST China Top 282.21 -1.81 FTSE ST China 295.72 -5.03 FTSE
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    • 186 10 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 7 0 0 0 4 6 7 Manufacturing 44 58 81 6 3 15 50 61 96 Commerce 20 24 26 3 2 5 23 26 31 Tpt/Stor/Comms 12 16 14
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    • BROKERS’ TAKE
      • 387 10 Genting Singapore March 18 close: $0.94 OCBC INVESTMENT RESEARCH, March 18 GENTING Singapore (GS) will open the doors of Universal Studios Singapore (USS) to the public at 8.28am on March 18, 2010, with 18 attractions and rides spread over seven zones to entertain visitors. USS intends to roll
        387 words
      • 279 10 March 18 close: $1.09 GOLDMAN SACHS, March 18 CCT announced the issue of $225 million of convertible bond (CB) due in 2015, with an over-allotment option of $25 million. It plans to use 75-90 per cent of the proceeds for asset enhancement initiatives (AEI) and debt refinancing.
        279 words
      • 366 10  -  March 18 close: $0.575 CIMB-GK RESEARCH, March 18 Compiled by LYNETTE KHOO MAINTAIN Outperform: Our TP is unchanged at $0.72, set at 7x CY2011 PE, still at a 50 per cent discount to peers due to its limited urea export exposure and less diversified portfolio. We reiterate
        366 words
    • 119 10 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 49,063 49,063 116,753 116,753 Manufacturing 373,284 7,181 380,465 234,365 574 234,939 Commerce 95,595 8,788 104,383 150,540 2,497 153,037 Tpt/Stor/Comms 76,191 1,110 77,301 137,383 181 137,564 Finance 29,708 29,708 218,446 218,446 Construction 65,242 1,852 67,094 22,270
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    • 114 10 Stock name Close Change Stock name Close Change CapitaLand 4.060 -0.040 CapitaMall 1.860 -0.010 CityDev 10.920 -0.080 ComfortDelGro 1.560 -0.020 Cosco Corp 1.270 -0.010 DBS Grp 14.580 +0.140 F&N 4.400 -0.100 Genting SP 0.940 -0.025 Golden Agri 0.560 -0.010 HK Land 4.800 -0.140 JMH 33.500 +0.300
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    • 527 10 CURRENCIES Reuters [NEW YORK] The euro weakened against the US dollar yesterday as a published report saying Greece was not optimistic about receiving aid from euro zone members heightened uncertainty over a resolution to its debt problems. An unidentified Greek official quoted in
      Reuters; AFP  -  527 words
    • 56 10 VOLUME Genting SP 110,732,000 Golden Agri 52,739,000 Midas 45,351,000 SwingMedia 41,946,000 See Hup Seng 34,796,000 Eastgate Tech 31,925,000 Olam 25,217,000 CapitaComm 24,741,000 GuocoLeisure 24,251,000 Ying Li 23,193,000 VALUE($) Genting SP 105,392,605 UOB 81,391,872 DBS Grp 79,422,960 Olam 66,505,580 Keppel Corp 59,282,147 SingTel 51,556,744 CapitaLand 49,771,530 Midas 48,956,430
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    • 110 10 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 441.9 2.8 JSH 2000 83.7 3.1 DBXT MSKorea 10US$ 4795 82.3 1.2 Jardine C&C 2782 72.0 2.7 DBXT MSTaiwan 10US$ 1603 64.1 3.0 DBXT MSINDO 10us$ 1165 53.0 3.4 JMH 3350 41.8 0.9 OCBC Bk 4.5%NCPS 100 9970 30.0 0.3 UOB.ES.1003
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    • 118 10 BY CENTS CLOSE DOWN GLD 10US$ *****-100.4 -0.7 SIA.ES.1003 1562 -30.0 -1.9 HK Land 480 -19.5 -2.8 OCBC Bk 888 -17.0 -1.9 DBXT MSEurope 10US$ 4266 -15.3 -0.3 SIA 1560 -12.0 -0.8 SIA 200 1556 -12.0 -0.8 Lyxor China H 10US$ 1567 -11.2 -0.5 F&N 440 -10.0 -2.2 CityDev
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    • 87 10 Where S$ stands Mar 18 CHNG YR 2010 CLOSE FR Mar 17 S$ LOW S$ HIGH US$ 1.3935 -0.15 1.4219 1.3973 Euro 1.9063 0.53 2.0153 1.8959 Pounds 2.1321 0.08 2.2776 2.0848 A$ 1.2842 -0.10 1.2923 1.2276 Yen* 1.5458 -0.65 1.5927 1.5027 Rupiah* 0.***** 0.01 0.***** 0.***** Baht* 4.3142 -0.24
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  • Page 11 Advertisements
    • 149 11 Five Star First Class to Seoul Inaugural Promotion r B777 First Class Full Flat Seat ASIANA Flight On ASIANA AIRLINES, you're surrounded by art. In the food. In the wines. ASIANA AIRLINES. |f S Qft. Ill motion. 3 1 r> n ZiMi Cuisine of Master Chef Wine Selection of Best
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  • Page 12 Advertisements
    • 2189 12 MATS "vrir^pc Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES JUNMATYRE CORD COMPANY LIMITED Junma (Incorporated in the People's Republic of China) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Junma Tyre Cord Company Limited ("the Company") will be held at Conference Room, Junma Building,
      2,189 words
    • 1006 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KOCH MATERIALS ASIA TRADING PTE. LTD. (Registration No. *****0886G) (In Member's Voluntary Liquidation) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] An Extraordinary General Meeting of the Company deemed to have been convened pursuant to Section 179(6)
      1,006 words
    • 550 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF PILZ INDUSTRIAL AUTOMATION PTE LTD Company Registration No. *****4087M (IN MEMBERS'VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 that the Final Meeting of Members
      550 words
    • 25 12 a Goodwood Residence Freehold In Prime District 10 The Most Exclusive Green Address In Singapore Foreigners Eligible Please Call For Priority Preview Now: 9699 9767
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  • Page 13 Advertisements
    • 160 13 i Private clients matter... If you think that achieving a client's long-term goals should not depend upon the vagaries of the market, ik If you think that integrating a client's aversion to risk means taking into account the risk of not achieving their objectives, If you think that protecting a
      160 words

  • SINGAPORE NEWS
    • 533 14  -  Hike due to costs of hiring top academic talent, improving staff-student ratio By FELDA CHAY SINGAPORE’S three public-ly-funded universities are going to raise tuition fees for undergraduate studies in the upcoming academic year to reflect the increased costs from bringing in top academic
      FILE PHOTO  -  533 words
    • 801 14  -  They see a chance to increase their presence in a lucrative market By MALMINDERJIT SINGH INSTEAD of seeing India’s move to allow foreign universities to set up local campuses as a threat, Singapore’s universities and private education institutions are looking at
      801 words
    • 411 14  -  By EMILYN YAP THE Urban Redevelopment Authority (URA) yesterday received surprisingly high bids for a transitional office site at Mohamed Sultan Road. The 15-year leasehold plot attracted three bids. The highest was $17.19 million, or $172 per sq ft per plot ratio (psf
      411 words
    • 368 14  -  By VEN SREENIVASAN THE Singapore Island Country Club (SICC) has found a new general manager who assumes his official duties today, just weeks after his predecessor, Sylvan Braberry, and several other senior staffers abruptly quit the club. JP Schneider hails from the HK Peninsular Group,
      368 words
    • 442 14  -  By VINCENT WEE DNV is leveraging on the rising demand for clean technology (Cleantech) innovation and incubation services in Singapore and South-east Asia by establishing its new Clean Technology Centre (CTC). DNV chairman and CEO Henrik Madsen believes that a growth rate of
      442 words
    • SINGAPORE ROUNDUP
      • 71 14 CPF members will continue to receive interest of 4 per cent a year on their Special and Medisave account (SMA) savings from April 1 to June 30 this year. Since Jan 1, 2008, SMA savings have been invested in Special Singapore Government Securities that
        71 words
      • 54 14 THE Energy Research Institute Nanyang Technological University (ERI@N) and Det Norske Veritas Pte Ltd signed a memorandum of understanding yesterday. The MOU is for joint research and development efforts in clean energy and environmental technologies. The partnership includes industrial collaboration, membership of advisory
        54 words
  • Page 14 Advertisements
    • 113 14 TWO EXCELLENT PROPERTY INVESTMENT OPPORTUNITY IN DISTRICT 9 &10 3- 4-bedroom and Super-Penthouse LUXURIOUS CONDO ntumr 3- 4-bedroom and Super-Penthouse I IJ A N f I II N J I. II I y II Very private, spacious functional Minutes to Orchard road's vibrant shopping, dining and entertainment venues Close to
      113 words

  • ECONOMY WATCH
    • 599 15 Papandreou hints his country may seek help from IMF if Europe falls short Bloomberg [BRUSSELS] Greek Prime Minister George Papandreou gave European leaders until next week to spell out what financial aid they are prepared to give him as signs
      Bloomberg; REUTERS  -  599 words
    • 290 15 Reuters [WASHINGTON] Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain US government backing should Congress create a new system for financing US homes, Federal Reserve chairman Ben Bernanke said on Wednesday. The comments follow speculation earlier this month
      Reuters  -  290 words
    • 666 15  -  By ANTHONY ROWLEY THE dollar is unlikely to remain the world’s key reserve currency for much longer, former chairman of the US president’s Council of Economic Advisors Joseph Stiglitz declared in Tokyo yesterday. Despite its formal protestations about favouring a
      666 words
  • Page 15 Advertisements
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      128 words

  • MALAYSIA/INDONESIA
    • 446 16 AFP [JAKARTA] Indonesian palm oil giant Sinar Mas rejected claims of environmental vandalism yesterday after Nestle, the world’s biggest food company, dropped it as a supplier following protests by Greenpeace. It was the second embarrassing blow to Sinar Mas in three months
      AFP  -  446 words
    • 390 16 Critics should focus on access to China’s market that pact provides: Pangestu Reuters [JAKARTA] Indonesia will not try to renegotiate a free trade agreement between China and the 10-member Association of Southeast Asian Nations (Asean), despite pressure from local industry, the trade minister said
      Reuters; BLOOMBERG  -  390 words
    • 398 16 Counter closes at RM4.23, still shy of RM4.30 offer price Bloomberg [KUALA LUMPUR] Astro All Asia Networks, Malaysia’s largest pay-television operator, surged by a record after a group led by billionaire T Ananda Krishnan bid as much as RM2.5 billion (S$1.05 billion)
      Bloomberg  -  398 words
  • Page 16 Advertisements
    • 1564 16 MATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES Trump Dragon Distillers Holdings Limited (Incorporated in Bermuda on 12 February 2008) (Company Registration No.: *****) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a Special General Meeting of Trump Dragon Distillers Holdings Limited will be held at Raffles City Convention
      1,564 words
    • 79 16 19,OOOsqft sprawling land 11,OOOsqft living space including 5 bedrooms ensuite, media room and wine cellar Azure Lap pool centers large outdoor patio •Contemporary K2LD Design Outfitted with a Schuller Kitchen Master Bedroom overlooking Dramatic Greenery View Furnishings from renowned Italian Brands •Tranquil yet right in heart of Town Rustic and
      79 words

  • GREATER CHINA
    • 678 17 Sign that China may be preparing for policy change; results on April 27 Bloomberg [BEIJING] China is conducting stress tests to gauge the effect of yuan appreciation on companies, a sign that the government may be preparing for policy change even as
      Bloomberg; REUTERS  -  678 words
    • 328 17 But group expects little growth in sales volume this year Reuters [HONG KONG] China Overseas Land, the country’s largest property firm by market value, posted strong half-year profit growth and said it would increase spending by almost a third this year. China Overseas
      Reuters  -  328 words
    • 306 17 Reuters [CANBERRA] Australia urged China yesterday to allow its diplomats full access to the trial of four Rio Tinto staff charged with commercial spying in a case that could hurt political and economic ties. “The world will be watching how this particular
      Reuters  -  306 words
  • Page 17 Advertisements
    • 381 17 Samwoh Eco-Green Park SAMWOH Date Venue Time by Ms Grace Fu Senior Minister of State for National Development and Education 22 March 2010 (Monday) 51 Kranji Crescent Singapore *****1 Official opening at 9am for business partners, associates friends Open to public from 1 pm to 5pm H ,7" :fc A
      381 words

  • INDIA
    • 509 18 But wholesale price inflation hits 16-mth high on surge in manufacturing costs Bloomberg [MUMBAI] India’s food price inflation slowed to a four-month low as bigger winter crops boosted supplies of sugar and wheat. An index measuring wholesale prices of lentils, rice, vegetables
      Bloomberg  -  509 words
    • 204 18 Reuters [MUMBAI] India has allowed private sector healthcare companies to start medical colleges in a move to help ease a shortage of seats, the Financial Express reported yesterday. The Medical Council of India (MCI), a state body that regulates the sector and registers doctors,
      Reuters  -  204 words
    • 622 18 But it is hindered by bad scripts, poor quality production AFP [MUMBAI] Bad scripts, flimsy characters and poor quality production are hindering Indian cinema as it attempts to capture new global audiences, leading industry figures say. Top actors, film-makers and executives
      AFP  -  622 words
  • Page 18 Advertisements
    • 238 18 WINE DINE AND HOSPITALITY 3 (23 March) Regarded as one of the best young jazz artists, special guest Nicolas Folmer performs at INK with Singapore's 'King of Swing' Jeremy Monteiro for an exclusive one night gig. Come and discover the sensational Jazz tune of world-renowned Jazz musicians on Tuesday, 23
      238 words

  • ASIA-PACIFIC/WORLD
    • 412 19 Lack of inflation lets Fed keep pledge on keeping rates low in coming months LATEST US DATA AP Bloomberg [WASHINGTON] The current account trade deficit widened in the fourth quarter, reflecting an improving economy, but the imbalance for all of 2009 fell to the
      AP; Bloomberg  -  412 words
    • 401 19 AP [DETROIT] If the economy cooperates and car sales recover a bit, General Motors Co (GM) has a reasonable chance of turning a full-year profit in 2010, its new chief financial officer said on Wednesday. Former Microsoft Corp CFO Chris Liddell,
      AP  -  401 words
    • 421 19 NYT [NEW YORK] Google and Intel have teamed with Sony to develop a platform called Google TV to bring the Web into the living room through a new generation of televisions and set-top boxes. The move is an effort by Google and Intel to extend
      NYT; AFP  -  421 words
    • 241 19 Reuters [LOS ANGELES] Lawyers seeking civil damages against Toyota Motor Corp on behalf of US consumers for diminished resale value of recalled vehicles are broadening their cases to add racketeering claims against the carmaker. Using federal racketeering laws to amend the consumer class-action complaints, which have
      Reuters  -  241 words
    • 337 19 US$18b bill offers companies a tax break for hiring unemployed Bloomberg [WASHINGTON] The US Congress gave final approval to an US$18 billion jobs bill offering companies a tax break for hiring the unemployed in the lawmakers’ initial effort this year to boost
      Bloomberg  -  337 words
  • Page 19 Advertisements
    • 46 19 Branded Residences in Sentosa Cove Within minutes to Universal Studios Theme Park and Integrated Resort <*****1 Quality Quayside Lifestyle with Panoramic views Spacious units of 2 3 4 Bedrooms and Penthouse Recreational facilities with private berths ,9127 4985 CBRE Call now! I f CB RICHARD ELLIS
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    • 195 19 CO-COMMISSIONED AND PRESENTED BY: Singapore The Repertory Theatre SOLD OUT IN NEW YORK. HERE FOR 1 WEEK ONLY. BOOK NOW! THE TEMPEST WRITTEN BY WILLIAM SHAKESPEARE DIRECTED BY SAM MENDES THE BRIDGE PROJECT YEAR 2 1 w J DILLANE ■aws •> c s RON CEPHAS HI 5 Reasons why this
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  • WORLD
    • 572 20 Lawmakers want to know if Lehman-like accounting gimmick was widely deployed on Wall Street AP [WASHINGTON] The Securities and Exchange Commission (SEC) is investigating several companies’ actions in the run-up to the financial crisis of 2008, its head said on Wednesday. SEC chairman
      AP  -  572 words
    • 41 20 [BARCELONA] Animal-rights activists, smeared with fake blood, protesting against Canada’s annual seal hunt in front of the Commercial Office of Canada at Catalunya Square in Barcelona on Monday on the International Day of Action Against Seal Hunting. AFP
      AFP  -  41 words
    • 467 20 Bloomberg [WASHINGTON] US President Barack Obama scored a victory in his bid to overhaul the healthcare system when a Democratic lawmaker agreed to switch his vote and back the legislation, even as the bill faced delays in Congress. Ohio Representative Dennis
      Bloomberg  -  467 words
    • 480 20 Consumers play over 40,000 rounds a day of the game’s test version Reuters [CHICAGO] Tiger Woods’ return to professional golf for the Masters tournament next month is being celebrated by more than fans as EA Sports will launch the final commercial version of
      Reuters  -  480 words
    • 499 20 They are accused of misleading Milan about swap costs NYT [MILAN] An Italian judge on Wednesday ordered JPMorgan Chase, Deutsche Bank, UBS and a banking unit of the German company Hypo Real Estate Holding to stand trial for fraud in
      NYT  -  499 words
  • Page 20 Advertisements
    • 1476 20 MAT-3 NOTICES LOST SHARE CERTIFICATES The following share certificates have been reported lost, destroyed or mislaid:Name of Company ComfortDelGro Corporation Limited -doDelong Holdings Limited Certificate No, In the Name ot No. of Share *****2 Sim Yok Boon 8,000 *****6 -do- 4,000 *****4 Osman Bin Ghouse Mydin 10,000 *****04 Citigroup Global
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  • AVIATION/SHIPPING
    • 545 21 Environmentalists concerned this will hasten destruction of tropical forests AP [AMSTERDAM] Within a decade, passenger planes will be flying on jet fuel largely made from plants flax, marsh grass, even food waste as airlines seek to break away from the volatile
      AP  -  545 words
    • 790 21 Employer-employee talks to resume; strike is in 3rd week [HELSINKI] Striking Finnish stevedores clashed with non-union workers at a harbour on the south-east coast as an operator moved to open a terminal closed by a continuing nationwide walkout. “Traffic in and out
      AFP  -  790 words
    • 281 21 SGX '000 Mar 18 S$ +/-Vol CH Offshore 0.66 0.01 1364 Chuan Hup Hldgs unch unch 0 Cosco Corp 1.27 -0.01 6120 CWT Ltd 1.04 -0.02 1563 Ezra Hldgs 2.43 -0.05 3858 First Ship Lease 0.61 0.01 624 Freight Links 0.05 0.01 712 Grand Banks unch unch 0
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    • 198 21 Bloomberg [ATLANTA] Beijing’s airport became the world’s third busiest last year, surpassing Chicago’s O’Hare, as its passenger total jumped 17 per cent to 65.3 million on increasing demand for travel throughout Asia and overseas. Atlanta’s Hartsfield-Jackson airport remained No 1 with almost
      Bloomberg  -  198 words
    • 3004 21 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 Amsterdam LO4031 0610 AZ3993 2250 SQ323 0610 KL838 2250 US5410 0610 LO4032
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    • 440 21 It’ll be first carrier to do so on domestic routes in China Bloomberg [SHANGHAI] China Southern Airlines said that it would become the nation’s first carrier to offer premi-um-economy seating on domestic flights as corporate travellers pare spending on business class tickets. The carrier
      Bloomberg  -  440 words

  • EDITORIAL & OPINION
    • 457 22 EDITORIAL CARMAKERS are certainly not waiting for countries to adopt legally binding climate change targets to start cutting emissions. They are working gingerly to take the green concept mainstream. Dozens of brands, even Ferrari and Porsche, had low-emission cars at this month’s Geneva Motor
      457 words
    • 832 22  -  THE BOTTOM LINE YOGI AGGARWAL The writer is a Mumbai-based journalist who contributes regularly to BT THE bill to reserve one-third of all parliamentary and legislative assembly seats for women passed the Upper House of India’s Parliament (the Rajya Sabha)
      832 words
    • 1161 22  -  US firms are increasingly drawn to China as it develops a high-tech economy By KEITH BRADSHER NYT FOR years, many of China’s best and brightest left for the United States, where high-tech industry was more cutting edge. But Mark Pinto is moving in the
      NYT; AP  -  1,161 words
    • 1966 23  -  Among them: a double-dip in Europe, a double-dip in the US, slow growth in Japan and a sudden slowdown in China BARRY Eichengreen, professor of economics at the University of California, Berkeley, and visiting MAS/NUS Term Professor, talks to BT’s associate editor VIKRAM KHANNA
      FILE PHOTO  -  1,966 words
    • 745 23  -  WILLIAM PESEK JR The writer is a Bloomberg News columnist. The opinions expressed are his own Bloomberg IT’S beat-up-on-China time. While criticism of China’s currency policy is rarely in short supply, it’s reaching a fever pitch. Yet the powerful politicians, newspapers
      Bloomberg  -  745 words
    • 313 23  -  LETTER TO THE EDITOR Jeannie Ong Head, corporate communications investor relations StarHub WE refer to the Hock Lock Siew column by Winston Chai, “SingTel’s BPL bid cast in a different light” (BT, March 16) and would like to share our comments as an industry
      313 words


  • SINGAPORE STOCKS
    • 8994 24 Transaction date: Mar 18 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 16.5 unch 140 16.5 16.5 16.5 17 1.7 11 5.3 79 10 3 5834
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    • 1719 25 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 t AA Grp 5.5 4.5 5.5 30.6 5.3 25 12 8538 t APStrategic 15.5 13 15 91.5 4 1
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    • 9342 25 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.23/ APS Alpha Fund (USD)!** 0.88/ 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 0.6613/ Asian Credit Fund 1.2488/ Asian
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    • 487 25 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 $mil 111 107 6389 ABF SG Bond ETF 109.5 109.5 112 499.8 863 449 CIMBAsean40 100US$ US863cd 860 863 34.5 298 159 DBS STI ETF
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    • 264 25 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 $mil 56 25 6000 AVJennings A46.5 -0.5 6 47 46.5 46.5 50.5 3.6 7.5 3.7 121.1 31 6.5 6017 Genting HK US$ US20.5 unch 2753
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  • FINANCE & COMMODITIES
    • 365 26 In local curr In S$ In US$ dy yr dy yr dy yr Mar 17 Index Change Change Change Change Change Change World Index Preliminary 862.7 0.7 3.6 0.6 2.1 0.8 2.9 EAFE Preliminary 805.5 0.8 2.6 0.8 0.0 1.0 0.8 Europe Preliminary 1154.0 0.6
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    • 178 26 Mar 18 Bid $S Offer Bid Overnight 0.08 0.03 1-month 7/16 3/16 2-months 9/16 5/16 3-months 11/16 7/16 Overnight mode: 1/8 US$ Offer Bid 7 days 0.27 0.22 1 month 0.35 0.25 2 months 0.35 0.25 3 months 0.37 0.27 6 months 0.50 0.40 9 months 0.90 0.60
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    • 22 26 Mar 18 S$ Bid Offer 1-month 1.3942 1.3953 2-months 1.3944 1.3955 3-months 1.3946 1.3956 6-months 1.3951 1.3962 Source: OCBC
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    • 179 26 Mar 18 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Apr 10 329.5 329.5 329.5 4 678 May 10 329.0 326.0 329.0 26 652 Jun 10 325.0 780 Jul 10 321.5 380 Aug 10 317.0 230 Sep 10 318.0
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    • 84 26 Mar 18 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 17.06.2010 0.37 1-Year BY*****N 01.11.2010 0.38 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0A 2.625 01.04.2012 104.30 5-Year N*****0N 1.375 01.10.2014 100.39 100.42 100.40 7-Year N*****0S
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    • 105 26 Mar 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 10 959.00 945.00 962.25 942.00 Jul 10 966.75 952.75 970.00 950.00 Aug 10 964.00 950.25 966.75 948.00 Sep 10 949.75 935.75 952.00 932.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low May 10 39.83 39.37 39.85
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    • 77 26 CRUDE OIL PRODUCTS Mar 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 81.39 0.78 WTI (Near Mth) 82.74 0.95 Dubai (1-Mth F) 79.06 2.27 Tapis blend 83.85 2.70 Minas 82.45 2.65 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 80.22 1.00 Jet Kerosene 89.35 3.30 US$/barrel Opec Oil
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    • 2571 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2.5 1 15 13 6.20 50 4085 ASJ Hldgs W*****1 2 1 4 20 2.50 23 2036 Advance SCT W*****9 0.5 1 87 2400 7.00 5
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    • 132 26 Mar 18 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2750 1.3130 Can dollar 1.3710 1.3870 Euro 1.9030 1.9240 NZ dollar 0.9870 1.0080 Sterling pound 2.1230 2.1470 US dollar 1.3860 1.4030 Local dollars to 100 units of foreign
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    • 29 26 Mar 18 Open High Sett STI Mar 2915 2918 2914 SIMSCI Mar 347.3 348.8 347.3 Taiwan Mar 282.0 284.0 281.9 Source: MF Global (S) Pte. Ltd
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    • 66 26 Mar 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 10 2604 2569 2605 2561 853 7618 May 10 2592 2550 2596 2539 5206 ***** Jun 10 2583 2535 2587 2528 ***** ***** Jul 10 2569 2530
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    • 368 26 Mar 18 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun10 99.6400 0 4247 Sep10 99.4950 0 2103 Dec10 99.2250 0 1783 Mar11 98.8850 0 2830 EUROYEN TIBOR FUTURES Jun10 99.6050 99.6050 99.6050 99.6050 332 4305 Sep10 99.6200 0 3992 Dec10 99.6300 99.6300 99.6300 99.6300 3 1360
      368 words
    • 465 26 Mar 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.932 6.280 0.674 7.140 41.890 83.996 0.829 10.431 3.045 1.292 77.547 42.046 1.283 6.738 0.974 29.176 29.719 0.603 0.920 Canada 1.073 6.740
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    • 85 26 Mar 18 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 26 Mar 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2822 1.2838 0.9197 0.9202 Canadian dollar 1.3761 1.3777 0.9871 0.9876 Euro 1.9034 1.9051 1.3653 1.3656 NZ dollar 0.9925 0.9939 0.7119 0.7124 Sterling pound 2.1268 2.1292 1.5256 1.5262
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    • 138 26 Mar 18 GOLD (US$/oz) Mar 17 Mar 18 Hong Kong 1129.80 1122.00 Mar 16 Mar 17 London 1125.80 1123.85 1126.70 1124.65 Source: Thomson Reuters CAST BAR Mar 18 (S$) Selling Buying Kilobar "54,042.49" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 120.91 50 5gm 343.47 252 10gm 614.18
      138 words
    • 69 26 Mar 17 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2261.00 2224.50 3 months 2295.00 2258.00 Copper, Grade A (US$/tonne) Cash 7498.50 7370.75 3 months 7534.00 7405.00 Lead (US$/tonne) Cash 2226.75 2191.50 3 months 2255.00 2220.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • 76 26 Mar 17 COCOA (£/tonne) Close Prev High/Low May 10 2205 2187 2209/2181 Jul 10 2200 2183 2202/2176 Sep 10 2147 2141 2150/2134 Dec 10 2124 2118 2128/2113 COFFEE (US$/tonne) Close Pev High/Low Mar 10 1223 1206 May 10 1248 1231 1249/1229 Jul 10 1282 1266 1283/1264 SUGAR (US tonne)
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  • 6497 27 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 SAN SIMEON NEW ORLEANS/CAMDEN *Loads E./W.
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  • Page 28 Advertisements
    • 31 28 THE BUSINESS IIIN/IES Legal required by shippers owners Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES
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  • executive lifestyle
    • 1879 29  -  While the jury is still out as to whether Singaporeans are an arts-loving bunch, there’s no doubt that this is a nation of avid movie-goers. CHEAH UI-HOON looks at the various film festivals coming up to find out how they are changing the cultural landscape of
      1,879 words
    • MUSIC
      • 922 30  -  Mosaic performers strut their live personas and diverge from their albums with surprising results, reports CHRISTOPHER LIM MOSAIC MUSIC FESTIVAL CHRISTOPHER LIM IT’S a truism to say concerts differ from the albums they are based on, especially when it comes to improvisational genres like
        922 words
      • 571 30  -  CD REVIEW By CHRISTOPHER LIM MANY artists would choose the spontaneity of the stage over the formality of the recording studio any day. But even if a CD turns out to be the merest sketch of continuously evolving material, it was still enjoyable to see just
        571 words
      • 468 30  -  By UMA SHANKARI NEW York trio Au Re voir Simone and Portland, Oregon-based Pink Martini had never performed in Singapore before their concerts this week and they sure worked to fit in. Pink Martini, the “little orchestra” known for blending genres such as Latin,
        468 words
    • CINEMA/GAMING
      • 849 31  -  Three Singapore producers and friends were involved in ‘Au Revoir Taipei’, the Taiwanese movie that’s creating a buzz in the festival circuit, reports CLARISSA TAN CLARISSA TAN IT’S hard enough deciding which movie to watch, much less which to invest in. Which is why, when first
        849 words
      • 489 31  -  By CHRISTOPHER LIM FANTASY card games that have people crowding around tables to spread out their precious cards in elaborate schemes are an interesting niche in non-compu-ter gaming, and they used to be all the rage back in the early 90s. But the genre’s
        489 words
      • 593 31  -  By CLARISSA TAN THERE is a pool of tenderness at the centre of City of Men Paulo Morelli's film set in a hilltop gangster ghetto of Rio de Janeiro. Two young men, having lost their fathers in different ways, try their best
        593 words
      • 535 31  -  By CLARISSA TAN WHEN making a rom-com with elements of cops-and-robbers in it, it's important to get the mix just right. The film has to be sweet, but with some spice. It has to pull at the heartstrings, but also contain action. It must take a realistic
        535 words
    • ARTS
      • 817 32  -  Nerina Lascelles tells EMILYN ANG she hopes to invite viewers into the realm of beauty beyond form through her works EMILYN ANG GUO Xi, professor at the Imperial Painting Academy during the Northern Song dynasty once wrote “rocks are the bones of heaven and earth”
        817 words
      • 583 32  -  By CHRISTOPHER LIM A BUDDING franchise was born last weekend when composer-singer Mark Chan debuted The Rain came down like Pearls the Night I Died the first instalment in what Chan hopes will be a story that spans different media. The performances of
        583 words
      • 433 32  -  By MELISSA QUEK THE gender distribution at any dance school tends to be 10 girls in tutus and just one boy in tights, if at all an imbalance which has spurred Frontier Danceland’s artistic director Low Mei Yoke to showcase how a
        433 words
      • 682 32  -  By MELISSA QUEK WHEN Giselle was first presented in Paris in 1841, its choreography was initially credited to a Jean Coralli. Revisionist ballet history now says though that the principal dancer’s husband also a dancer himself had a hand in choreographing parts for his wife.
        682 words
    • WINE/ARTS
      • 1117 33  -  By N K YONG EVERY now and then, not often enough sadly, one comes across a wine which literally and figuratively takes your breath away. And when that happens, you are (at least I am) left in wonderment and awe, and enormously grateful.
        1,117 words
      • 495 33  -  Champagne society is set to open its local chapter here, reports MELISSA LWEE MELISSA LWEE ONE would associate champagne drinking with popping the cork, but for those trained in the sabre arts, another way to open a bottle is to
        495 words
      • 849 33  -  By CHEAH UI-HOON BEYOND providing a platform for branding, could the arts benefit businesses in other ways? One organisation seems to think so as it intends to be a facilitator and intermediary between businesses and the arts. Asian Culture Enterprise (S) Ltd (ACES) a
        KHALED TALIB  -  849 words
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    • 46 30 tabla! THE HEARTBEAT OF THE INDIAN COMMUNITY NRIs: THE NEW POOR? Soaring salaries and prices in India have blunted the value of the NRI's dollar-loaded wallet GAUHAR IS THE NEW EG HELEN ■sSf V* l GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST
      46 words

  • Page 31 Advertisements
    • 52 31 Landed Property in Novena Detached and Semi-D 9(V to B estVaW£ Freehold Private Lift in every unit li 4 and 6 Bedrooms Limited Units with Family Room Near to Prestigious Schools 1 MRT stop to Orchard Rd Minutes to Novena MRT Minutes to United Square 6100 6698 Developer's Sales Team
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  • Page 33 Miscellaneous
    • 295 33 CRYPTIC CROSSWORD Across 1 Frustrate pair going round mouth of river for starter (6,5) 9 Demarcation dispute that is touch-and-go (10,4) 11 Egg on very useful members initially (4) 12 Notice Michael’s said blend (5) 13 Take off first red garment in sketch (4) 16 Literate in a figurative sense?
      295 words

  • Page 34 Advertisements
    • 854 34 f r Vt A OVER THE YEARS, OUR MOVES ACROSS THE REGION HAVE LED US TO THESE ACCOLADES. 1 Jt 4 Best Retail House (Singapore) UOB Asset Management Ltd Singapore Asia Asset Management Best of Best Awards 2009 i At Best Fund Group 2009 \4 (Overall) n Jt Best Fund
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