The Business Times, 13 September 2010

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Monday, September 13,2010
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  • 568 1  -  Strong efforts made to improve displays following feedback By LEE U-WEN DESPITE the many brickbats hurled at it earlier on, the Singapore pavilion at the Shanghai World Expo has done a good job in showing off the country’s best assets to visitors, said Prime
    HO PENG YEW/LIANHE ZAOBAO  -  568 words
  • 159 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST Index 3,022.28 +19.72 KL COMP 1,437.78 +2.11 NIKKEI 225 9,239.17 +125.04 HANG SENG 21,257.39 +285.89 SET INDEX 924.57 -5.33 JAKARTA COMP 3,230.89 +66.61
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  • 952 1  - Alternate directors for IDs boon or bane? Piece by Mak Yuen Teen sparks feisty exchange with Xpress’s Christopher Chong By LYNETTE KHOO [SINGAPORE] A heated debate has emerged over the appointment of alternate directors for independent directors in listed companies. Though the practice of appointing alternate directors is not new,
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  • Page 1 Advertisements
    • 191 1 Wall Street Insight Investors face reality check after surprise bounce PAGE 19 BizIT S’pore a world data centre hub, says Equinix CEO PAGE 27 HOCK LOCK SIEW Lessons for SGX from Abterra fiasco DINING OUT Doing it their way PAGE 21 PAGE 5 THE LEADER'S WATCH No other watch is
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  • TOP STORIES
    • 610 2 Alternate directors for IDs boon or bane? A HEATED debate has emerged over the appointment of alternate directors for independent directors in listed companies. Though the practice of appointing alternate directors is not new, it has come under the spotlight over issues of corporate governance. FRONT PAGE Emerging-to-developed
      610 words
    • 454 2  -  Confidence seen returning far quicker in emerging than in developed economies By UMA SHANKARI [SINGAPORE] Firms in emerging economies have their merger and acquisition (M&A) deal-making sights firmly set on the developed economies, according to a new report from KPMG. M&A deals by emerging economy
      454 words
    • 470 2 Reuters [HONG KONG] French retailer Carrefour SA has removed several potential buyers from the bidding for its stores in South-east Asia, including Britain’s Tesco plc and Japan’s Aeon Co, the Wall Street Journal reported on Saturday. The newspaper, quoting sources familiar with
      Reuters  -  470 words
    • 963 3  -  Rise in caveats of small units also keeping prices above $1,000 psf By KALPANA RASHIWALA [SINGAPORE] Small is not only the new popular as far as private apartments go; it’s also what has skewed per square foot (psf) prices skywards in recent
      Source: URA Realis (Aug 25 ‘10), CBRE Reasearch  -  963 words
    • 367 3  -  By EMILYN YAP [SINGAPORE] Small is hip in today’s hospitality industry, and two more boutique hotels are coming up to capture tourists’ attention and wallets. The 40-room Santa Grand Hotel Chinatown, located on the third floor of a shophouse at 20 Trengganu Street, had
      ARTHUR LEE  -  367 words
    • 466 3  -  At NV Residences’ preview, 250 out of 300 units taken up By EMILYN YAP [SINGAPORE] With the hungry ghosts fed, private property buyers are coming back to the market. But the end of the Hungry Ghost Festival isn’t the only reason that there
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  • Page 2 Advertisements
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    • 292 2 Europe Asia Patent and Patent Information Conference 2010 sia 13-14 October 2010 I urope atent nformation onference Interested in having a discussion on clean technology and related IP considerations? Keen on learning how to understand complex patent information with the use of patent mapping? Then don't miss out on The
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  • Page 3 Advertisements
    • 32 3 LGT-Your Private Bank in Asia for 25 years. Singapore Phone +65 6415 3800, info@lgt.com Hong Kong Phone +852 2523 6180, info@lgt.com www.lgt.com Singapore, Hong Kong and 27 other locations worldwide. Wealth Management
      32 words

  • SINGAPORE MARKETS
    • 672 4  -  STOCKS R SIVANITHY Senior Correspondent ‘THE lack of public participation in the equity markets has become a constant source of concern for the bulls. Much has been said and written about outflows from stock mutual funds (and into bond funds). Indeed, the persistent
      672 words
    • 507 4  -  CURRENCY WATCH By JOHN W LABUSZEWSKI The writer is managing director, Research Product Development, CME Group WHILE other currencies have made inroads in recent decades, the US dollar (USD) remains the currency of choice for more financial transactions than any other currency. Thus,
      507 words
    • 347 4 COMMODITIES AFP [LONDON] World commodity prices mostly rose last week as markets digested a mixed outlook for the global economy. World economic recovery is slowing faster than expected and extra stimulus from governments may be needed, although another recession remains “unlikely,” the Organisation
      AFP  -  347 words
    • 117 4 BY CENTS CLOSE UP DBXT AUDMM 5SG$ ***** 592.0 2.6 DBXT Nifty 10US$ ***** 583.8 3.7 DBXT AUD Bonds 5AU$ ***** 465.2 2.5 DBXT iBoxxSvEu 5US$ ***** 453.6 1.5 Thai Prime Fd 780 174.5 20.0 DBXT MSAsExJp 10US$ 2922 151.7 4.0 DBXT MSINDO 10us$ 1334 88.6 5.2 DBXT SPASX200
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    • 120 4 BY CENTS CLOSE DOWN OCC 5.1% NCPS 100 *****-180.0 -1.7 DBXT USDIGInfl 5US$ *****-171.8 -0.5 OCC 3.93% NCPS10 9040-160.0 -1.7 DBXT iBoxxKR 5US$ *****-112.7 -0.7 DBXT S&P Short 10US$ 5223-108.7 -1.5 JMH 4282 -83.2 -1.4 DBXT FTVietnam 10US$ 3872 -25.5 -0.5 DairyFarm 713 -22.8 -2.3 APStrategic 175 -19.0 -9.8
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    • 87 4 Where S$ stands Sep 9 CHNG YR 2010 CLOSE FR Sep 8 S$ LOW S$ HIGH US$ 1.3416 0.33 1.4219 1.3416@ Euro 1.7083 -0.13 2.0153 1.6886 Pounds 2.0666 0.54 2.2831 2.0003 A$ 1.2418 -0.91 1.2960 1.1515 Yen* 1.6028 0.21 1.6080 1.4467 Rupiah* 0.***** 0.25 0.***** 0.***** Baht* 4.3465 -0.19
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    • 1597 4 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Prop Ltd 2.60 2.60 10 11.02 10.34 1.32 1.14 ARA Asset Mgt Ltd 1.75 1.75 4 7.33 15.29 1.28 1.12 Armstrong Ind Corp Ltd 1.00 1.00
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    • 4 4 WEEKLY
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    • 66 4 Sep 9 VALUE CLOSE BT OB/OS 489.00 +124.0 BT CADI -*****.00 +95.00 BT 10-day MA -*****.00 +49.00 FTSE ST Mid Cap 746.31 +3.98 FTSE ST Small Cap 551.03 +0.73 FTSE ST All Share 746.67 +2.79 FTSE ST China Top 274.69 +0.84 FTSE ST China 309.00 +4.03 FTSE
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    • 60 4 VOLUME *Genting HK US$ 736,939,000 Genting SP 389,598,000 China Hongxing 308,067,000 Abterra 217,840,000 Transcu Grp 148,293,000 Vallianz Hldgs 138,102,000 PineAgritech 118,460,000 ChinaSports 110,367,000 Noble Grp 99,340,000 Golden Agri 97,215,000 VALUE($) Genting SP 703,208,824 *Genting HK US$ 428,322,934 SingTel 208,365,702 Abterra 208,363,155 Noble Grp 168,128,594 Yangzijiang 147,224,970 Wilmar
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  • Page 4 Advertisements
    • 94 4 Phillip Futures Bringing Global Markets Closer to You www.phillipfutures.com.sg 6538 0500 Brought to you by PhiISp Futures Pte Ltd (A member of PhillipCapital) Phillip Futures Bringing Global Markets closeijto you 8 <' m Co. Rsg. M5: *****56S5G The above information does riot constitute an investment advice, an offer/solicitation to buy/sell
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  • COMPANY NEWS
    • 897 5  -  HOCK LOCK SIEW By R SIVANITHY IT WOULD be fair to say at some point last Tuesday when dealers were trying to capitalise on a large error trade in shares of minerals and resources company Abterra Ltd that those same dealers were cringing in
      897 words
    • 1141 6  -  Two China-linked companies secure private equity funding on their own terms. JAMIE LEE reports JAMIE LEE THE heady days for private equity (PE) funds are behind them. Against this backdrop, two companies that secured PE investments in recent months held some bargaining power over
      LIANHE ZAOBAO; YEN MENG JIIN  -  1,141 words
    • 1394 6  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE trading among directors was high last week with 19 companies that recorded 36 purchases versus six firms with 11 disposals based on filings on the exchange during the holi-day-shortened
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    • 1131 7  -  Boards may find other ways to make good lost compensation to retain executives who threaten to leave when facing such losses UNTICKING THE BOX By MAK YUEN TEEN Associate professor Mak Yuen Teen set up the Corporate Governance and Financial Reporting Centre of the
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    • 361 7  -  By ARTHUR LEE CIMB is starting to make its presence felt right in the heart of Singapore’s shopping district. The Malaysian banking group yesterday opened a 6,600-square-foot branch at Knightsbridge. Located next to Paragon, the branch will open daily from 10am to
      ARTHUR LEE  -  361 words
    • 403 7 SEP 9 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 259 7 COMPANY MEETING PLACE DATE TIME Transcu Grp A E RELC International Hotel, Tanglin 1 (Level 1), 30 Orange Grove Road, 10.00am Singapore *****2 15-Sep 11.00am OUE E Mandarin Orchard S'pore Mandarin Ballroom III, 6th Floor, Main Tower 333 Orchard Road Singapore *****7 15-Sep 10.00am REA Grp S 80
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  • Page 5 Advertisements
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  • Page 7 Advertisements
    • 220 7 CHARTING DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. G1 n$ b a 2 RONICS 2 0 10 13-15 September 2010 (Mon Wed) Sands Expo And Convention Centre, Hall A Marina Bay Sands, Singapore 10am 6pm daily www.globaltronics.com.sg Featuring Green Technologies
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  • SINGAPORE NEWS
    • 399 8  -  Big chunk of S’pore revenue comes from lending for purchase of Aussie, NZ homes By UMA UMA SHANKARI WESTPAC Private Bank is upbeat about the prospects of its property loans business in Singapore, which has tripled in volume in the last year. Sean Straton,
      FILE PHOTO  -  399 words
    • 503 8  -  It says sponsoring sports events has raised brand value By LEE U-WEN WHILE many companies that sponsor events are focused on boosting their brand awareness, Samsung Electronics looks at things a little differently. The Korean giant a major sponsor of the recent Youth Olympic Games
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    • 1109 8 Payment Ex Books Pay Ann (cts) date close date date ABR Hldgs aw 1.000 08-Sep 13-Sep 29-Sep 23-Aug Adampak Ltd aw 1.000 03-Sep 07-Sep 24-Sep 13-Aug Advanced Hldgs aw 0.160 09-Sep 14-Sep 23-Sep 27-Aug AIMS AMP Cap Ind Reit ag 0.538 06-Aug 11-Aug 16-Sep 30-Jul Armstrong Ind aw
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  • Page 8 Advertisements
    • 1077 8 MATS NOTICES BUY IT- SELL IT- FIND IT Toll free: 1800-289-8822 Email: notices@sph.com.sg INTHEMATTEROFTHECOMPANIESACT,CAP.50 AND INTHEMATTEROF MANASLUPTE.LTD. (INCORPORATEDINSINGAPORE) COMPANYREGISTRATIONNUMBER:*****8361G Notice ResolutionforMember’sVoluntaryWindingUp(PursuantSection290) tA t At the ExtraordinaryGeneralMeeting ManasluPte.Ltd.dulyconvenedandheld the registeredoffice,11DuxtonHill,Singapore*****5onMonday, September2010 10.00 a.m.,thefollowingSPECIALRESOLUTIONwasdulypassed: “THATtheCompanybewoundupvoluntarilypursuant Section290(1)(b) theCompaniesAct, Cap.50andthatMrLimPengHuatandMsShirleyLimGuatHua,both CompleteCorporate ServicesPteLtd,10AnsonRoad#15-07,InternationalPlaza,Singapore*****3,beandare herebyappointedjointandseveralLiquidatorsforthepurpose suchwindingup.” TIMOTHYAMYASHARTNOLL thedulyappointedcorporaterepresentative X-PRESSFEEDERSLIMITED Datedthis13thday September2010 INTHEMATTEROFTHECOMPANIESACT,CAP.50 AND INTHEMATTEROF MANASLUPTE.LTD. (INCORPORATEDINSINGAPORE)
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    • 149 8 nI n In ttheMatter The Companies Act, Cap. 50 And nI n In ttheMatter COLLINS AIKMAN FLOORCOVERINGSASIAPTE. TD. (InMember oluntar Liquidation) (Co. eg.No. ***** 6W) NNOOTICEOFFINALMEETIN NNOOTICE HEREB GIVENhatpursuant ot o to Section 308 he Companies Act, Cap.50, heFinalMeetin he aboenamedCompan will beheld 1155 Beac ad#03-1 Beac Centr Singapor 896
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 820 9  -  A poorly planned strategy without a focus on growth objectives can however quickly backfire, writes ANOL BHATTACHARYA ANOL BHATTACHARYA The writer is director and CEO of GetIT Comms, a company that develops and implements marketing programmes, campaigns and projects for B2B organisations SOCIAL media is
      820 words
    • 908 9  -  COLIN LIM shares his experience at the L’Oreal Brandstorm 2010 competition CAMPUS LIFE COLIN LIM The writer is a marketing and entrepreneur ship student who has just graduated from the National University of Singapore THE rigour and prestige of the L’Oreal Brandstorm competition has drawn
      908 words
  • Page 9 Advertisements
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      271 words

  • VIEWS FROM THE TOP
    • 3148 10 THIS WEEK’S TOPIC Are the Aug 30 property-related measures appropriate or do they need to be fine-tuned? Will they be sufficient to cool the property market and alleviate speculative pressure, or would other measures be needed? Lim Soon Hock Managing Director Plan-B Icag Pte Ltd
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  • Page 11 Advertisements

  • ECONOMY WATCH
    • 684 12 Poll shows some 65% of Americans believe the economy is not doing well AFP [WASHINGTON] Economists peddling dire warnings that the world’s No 1 economy is on the brink of collapse, amid high rates of unemployment and a spiralling public deficit, are
      AFP  -  684 words
    • 454 12 Bernama [KUALA LUMPUR] Malaysia has to be more competitive and not use the exchange rate to manipulate economic growth, although it often reflects the strength of the economy, says an economist. Ramon Navaratnam who is also the chairman of the Asian Strategy
      Bernama  -  454 words
    • 696 12 AFP [SYDNEY] Australia’s “wonder from Down Under” economy ignored recent political turmoil but is headed for a sticky patch, putting more pressure on a weak new government to forge important reforms, economists said. Rollicking annual growth of 3.3 per cent and a low unemployment
      AFP; AP  -  696 words
    • 582 12 He warns of collapse of banking system, loss of property AP AFP [THESSALONIKI, Greece] Greek Prime Minister George Papandreou ruled out yesterday any restructuring of the country’s huge national debt, warning that it would be “catastrophic for the economy”. “The logic of restructuring the
      AP; AFP  -  582 words
    • 252 12 AFP [BERLIN] Twenty years after German reunification, the former Communist East Germany is slowly closing the gap economically with its western counterpart but has some way to go, a new study showed yesterday. The survey, by the Ifo institute for Super Illu magazine, revealed
      AFP  -  252 words
    • 259 12 Bloomberg [SEOUL] The global economy faces increased risk to its recovery as growth slows in the US and China, and Japan battles the yen’s appreciation, South Korean Finance Minister Yoon Jeung Hyun said. “We’re seeing some unexpected troubles in major economies.
      Bloomberg  -  259 words
  • Page 12 Advertisements

  • MALAYSIA
    • 578 13  -  MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent MALAYSIA’S industrial production rose just 3.2 per cent year-on-year in July, much lower than the street’s forecast of 5.7 per cent. Should anyone worry? Not really. The declining trend is consistent with the rest of
      578 words
    • 1996 13 VOL Sep 9 RM +/-(‘000) A M Realty 0.48 0.01 10 Abric Bhd 0.22 -0.02 2 Advance Synerg 0.15 0.01 72 Adventa Bhd 2.45 0.06 112 Ae Multi Hldgs 0.31 0.01 629 Affin Holdings 3.07 0 764 Ahmad Zaki Res 0.81 0 33 Aic Corp 0.89 0.01 346
      1,996 words
    • 487 13 PM Najib Razak says situation will be reviewed if it will help the economy AFP Bernama [KUALA LUMPUR] Malaysian premier Najib Razak said his government may consider allowing the ringgit to trade offshore, 12 years after it was stopped amid the Asian financial
      AFP; Bernama  -  487 words
    • 834 13 AFP [KUALA LUMPUR] The mul-ti-billion-dollar Bakun dam in Borneo, already condemned as a catastrophe for the environment and tribal people, is now battling suggestions it could become a giant white elephant. The dam, which will eventually submerge an area the size
      AFP  -  834 words
  • Page 13 Advertisements

  • GREATER CHINA/INDIA
    • 665 14 Robust output, retail sales, bank lending, investment reflect economy’s strength NYT [HONG KONG] From street markets to corporate offices, consumers and executives alike in China are trying to cope with rising prices. The National Bureau of Statistics announced on Saturday that
      NYT; AP  -  665 words
    • 564 14 AFP [NEW DELHI] India is expected to hike interest rates this week for a fifth time in six months after a surge in industrial output strengthened the case for another dose of monetary tightening, economists say. Although India has
      AFP  -  564 words
    • 521 14 AP [SHANGHAI] California governor Arnold Schwarzenegger is engaging in a little window-shopping of China’s new high-speed train lines while peddling Californian exports and tourism in the world’s second-largest economy. His own state budget US$19 billion in the red, Mr Schwarzenegger says he is
      AP; AFP  -  521 words
    • 281 14 AFP [TAIPEI] A historic trade pact between Taiwan and China came into effect yesterday, yoking the two sides closer together than at any point since their split more than six decades ago. The landmark Economic Cooperation Framework Agreement (ECFA), signed in June, is the
      AFP  -  281 words
    • 263 14 AFP [BANGALORE] India’s trade minister lashed out at perceived protectionist moves by the United States on Saturday, calling them “regressive” and saying they could delay economic recovery. The statement by Trade Minister Anand Sharma came after the state of Ohio banned outsourcing back-office jobs
      AFP  -  263 words
    • 666 14 The Washington Post [NEW DELHI] India, the world’s largest manufacturer of generic drugs, has become a busy centre for counterfeit and sub-stand-ard medicines. Indian officials say the clandestine fake drug industry has hurt the image of India’s booming pharmaceutical industry and its exports,
      The Washington Post  -  666 words

  • ASIA-PACIFIC
    • 818 15 The country could earn US$400m to US$600m in just a few years AFP [ULAN BATOR] Investors keen to reap the benefits of Mongolia’s untapped mineral riches have shifted their focus from glittering copper and gold to coal, with ener-gy-hungry neighbour China a key
      AFP; BLOOMBERG  -  818 words
    • 395 15 AFP [SYDNEY] National Australia Bank (NAB) said “all options” were on the table regarding takeover target AXA Asia Pacific and it was close to deciding whether to push ahead with its failed bid. NAB’s US$12.2 billion offer for AXA’s Australia and New Zealand businesses
      AFP  -  395 words
    • 436 15 Bloomberg [TOKYO] Oki Matsumoto, chief executive of online trader Monex Group and a former Goldman Sachs partner, has a solution to Japan’s stagnant domestic economy: Learn “globish.” Mr Matsumoto holds regular parties at the Tokyobased company where employees must speak globish, or global
      Bloomberg  -  436 words
    • 568 15 AFP [SYDNEY] Australian Prime Minister Julia Gillard yesterday vowed a close working relationship with the man she brutally ousted, insisting she would not be outshone by Foreign Minister Kevin Rudd. Ms Gillard named Mr Rudd her chief envoy on Saturday, less than three
      AFP  -  568 words
    • 587 15 AFP [MANILA] On slow days Philippine tax investigators say they comb through the obituary pages and stacks of sales invoices. On other days they get lucky and get to track the infrequent Porsche or Ferrari. The poorly paid accountants and lawyers are the
      AFP  -  587 words
  • Page 15 Advertisements
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      128 words
    • 109 15 PERMANENT RESIDENCY IN THE USA FOR FOREIGN INVESTORS CALIFORNIA IMMIGRATION SERVICE CENTER (CAISC) CAISC enables clients of all nationalities obtain permanent residency (Green Card) in the USA through the United States EB-5 investor program. This program has been created by the United States to attract entrepreneurial immigrants with the purpose
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  • WORLD
    • 615 16 A number of eurozone countries had successful bond issues last week AFP [PARIS] Some precarious eurozone economies, shut out from the bond markets earlier this year by prohibitively high yields, returned in buoyant form this week with successful operations to sell debt
      AFP  -  615 words
    • 435 16 AFP [LONDON] The favourite to become the next leader of Britain’s Labour party, David Miliband, may be heading for defeat by a narrow margin at the hands of his younger brother, a poll suggested yesterday. David and his sibling Ed Miliband are the
      AFP  -  435 words
    • 547 16 AFP [BERLIN] German statistics show pay rises lagging behind the country’s growth rate, and the situation will likely last despite calls from trade unions and trade partners for higher salaries. A study showed German wages rose by less than in any other European
      AFP; AP  -  547 words
    • 285 16 AFP [LONDON] Bob Diamond, the controversial American investment banker chosen to be the next chief executive of Barclays, yesterday defended the British bank against accusations it was being run like a casino. The appointment of Mr Diamond, infamous for pocketing
      AFP  -  285 words
    • 179 16 AFP [LONDON] British mobile phone giant Vodafone is preparing to sell its multi-billion-pound stake in French telecoms company SFR as part of a strategy to focus on core markets, a report said yesterday. Citing senior sources at Vodafone, the Sunday Times
      AFP  -  179 words
  • Page 16 Advertisements
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    • 27 16 Lianhe Zaobao Which S-chips are likely to ride on China's I positive 1 1 economic f g data? m To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • ASIA-PACIFIC/WORLD
    • 746 17 Latest incident marks growing diplomatic rift between Asia’s 2 biggest economies Reuters [BEIJING] China’s top-ranked diplomat intensified pressure on Japan over a territorial dispute, warning Tokyo yesterday against making “misjudgements” over the seizure of a Chinese fishing boat in disputed seas. China’s
      Reuters; REUTERS  -  746 words
    • 637 17 MONZA GRAND PRIX AP [MONZA] Fernando Alonso recovered from a poor start to win the Italian Grand Prix for home team Ferrari yesterday and revive his Formula One title chances. The Spaniard lost pole position to McLaren’s Jenson Button at the first corner but
      AP  -  637 words
    • 475 17 AFP [LONDON] Opec, marking its 50th anniversary this week, remains a key influence on oil markets with non-Opec output set to fall and consumers burning fossil fuels despite higher demand for renewable energy. The Organization of Petroleum Exporting Countries was
      AFP  -  475 words
    • 16 17 Branchen Stars R1C-A EUR db X-MACROTrading Index Fund I4D GBP 06/09/10 124,83 01/09/10 99,16
      16 words
    • 11 17 FX Select Guaranteed Fund R1D 03/09/10 100,92 USD
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    • 29 17 Balanced Currency Harvest Euro I1C EUR Booster Capital Guaranteed Fund SGD R1D SGD Double Joy Capital Guaranteed Fund R1D USD 17/08/10 100,88 02/09/10 10,48 02/09/10 9,97
      29 words
    • 512 17 AFP [ZURICH] Top central bankers met yesterday in the northern Swiss city of Basel to put the finishing touches on a set of new bank regulations aimed at preventing a repeat of the recent financial crisis. The new package of rules called
      AFP  -  512 words
  • Page 17 Advertisements
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  • OBAMA'S DAUNTING TASKS
    • 1677 18  -  President Obama has to contend with ‘powerful interests’ aligned against him, reports FRANK RICH FRANK RICH NYT [WASHINGTON] NO, HE can’t. President Barack Obama can’t reverse the unemployment numbers by Election Day. He can’t get even a modest new stimulus bill past
      NYT; AFP; AP  -  1,677 words
    • 524 18 AFP [WASHINGTON] President Barack Obama’s Democratic allies and Republican foes are battling over a once-in-a-dec-ade prize in November mid-term elections: power to literally re-draw the US political map. Each US state gets two senators, but the 435 full members of the House of
      AFP  -  524 words

  • WORLD
    • 1061 19  -  Stocks claw back to break even for year but sentiment remains fragile WALL STREET INSIGHT By in ANDREW MARKS AFTER a week in which a smattering of data and a big dose of bullish sentiment pushed stocks higher in a surprise Wall Street
      BLOOMBERG  -  1,061 words
    • 674 19 Even the national taxpayer advocate voices reservations NYT [WASHINGTON] Many Democrats have joined Republicans in pushing for the repeal of a tax provision in the new healthcare law that imposes a huge informa-tion-reporting burden on small businesses. To improve compliance, the law requires
      NYT  -  674 words
    • 406 19 Reuters [PARIS] Most French people recognise the need to overhaul a retirement system bleeding billions of euros each year as the population ages according to recent polls. Analysts say unions which organised protests at pension reforms are seeking just enough in the way
      Reuters  -  406 words
    • 454 19 Bloomberg [WASHINGTON] Retail sales in the United States probably increased in August for a second month as merchants lured shoppers with discounts, a sign the economy will keep expanding, economists said before reports this week. A projected 0.3 per cent gain in
      Bloomberg  -  454 words
  • Page 19 Advertisements
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  • AVIATION/SHIPPING
    • 420 20 Deal marks yet another sign of growing commercial ties between Brazil and China Reuters [SAO PAULO] Vale, the world’s largest iron ore producer, said it plans to borrow US$1.23 billion from two Chinese lenders to finance the construction of 12 shipping vessels, taking
      Reuters  -  420 words
    • 332 20 Reuters [CARACAS] A fire tore through a dock where an oil tanker was loading on Saturday, briefly halting shipping at Venezuela’s 310,000 barrel-per-day Cardon refinery days after a blaze shut another of the Opec member’s oil units. State oil company PDVSA has
      Reuters  -  332 words
    • 678 20 Duty hours to not exceed 13 in a 24-hour period AP [WASHINGTON] Work hours will be shortened for pilots who fly at night while some pilots who fly during the day can spend more time in the cockpit, under a US government
      AP  -  678 words
    • 263 20 Reuters AFP [TOKYO] Pirates boarded a Japanese auto transport ship and robbed its crew off Indonesia late on Friday, but no one was injured and the undamaged ship resumed its voyage, Japanese media quoted the transport ministry as saying. The incident comes
      Reuters; AFP  -  263 words
    • 231 20 Bloomberg [WASHINGTON] Air China Ltd, the world’s largest carrier by market value, said it will buy four Boeing Co 777-300ER planes for a “significant” discount to the US$1.15 billion list price. The airline will take delivery of the aircraft in
      Bloomberg  -  231 words
    • 3020 20 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1230 SQ456 1250 EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7268 1745 VS7279 2350 Amsterdam SQ323 0605 LO4032 2345 US5410 0605 SQ324 2345 AZ3992 1525 US5411 2345 KL835 1525 Athens SQ348 0105 Atlanta DL281
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  • Page 20 Miscellaneous
    • 334 20 CRYPTIC CROSSWORD Across 1 Fit drink after time with worker (7) 5 Fool ignoring a kind son in a rough way (2,5) 9 Land enclosed by main diagram (5) 10 Apt tip duo devised for finish (3,4,2) 11 Lose ability to cope as a keen chess player? (2,2,6) 12 Advertise
      334 words

  • DINING OUT
    • 888 21  -  NEW RESTAURANT The Disgruntled Chef 26B Dempsey Road Tel: 6476-5305 By Jaime Ee WITH a name like The Disgruntled Chef, you know this new restaurant is going to be a talking point, if only to ponder: a) who is this existential cook who is unhappy with
      888 words
    • 419 21  -  PROMOTIONAL MENU Tetsu #03-18 Tanglin Mall 163 Tanglin Road Tel: 6836-3112 By Audrey Phoon THERE are lots of things to look forward to when Spring segues into Fall (in places where that happens, that is). Crisp golden carpets of leaves, the opportunity to dress up in layers
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  • Page 21 Advertisements
    • 594 21 v v > WINE DINE AND HOSPITALITY 5^ S§ HUATING JSi&if Restaurant Level 2 Uncover the wholesome goodness of mooncakes packed in intricately designed boxes For reservations information, please call 6739 6577 or email f&breservation@orchardhotel.com.sg ORCHARD HOTEL SINGAPORE 442 Orchard Road Singapore *****9 Tel (65) 6734 7766 Fax (65) 6733
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  • SINGAPORE STOCKS
    • 9337 22 Week ended: Sep 9 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 13 3148 8Telecom 19 +0.5 ***** 21 19 18.5 19 1.7 9.5 6.1 91 12 5 5834 A-Sonic
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    • 2031 23 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 9 4.5 1181 t AA Grp 4.5 4 5 25 4.3 225 130 6222 t APStrategic 175 -19 62 178 160 155
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    • 116 23 Stock name Close Change CapMallsAsia 2.230 +0.030 CapitaLand 3.990 +0.050 CapitaMall 2.000 +0.020 CityDev 11.780 +0.100 ComfortDelGro 1.530 DBS Grp 14.160 +0.040 F&N 5.860 +0.080 Genting SP 1.830 +0.010 Golden Agri 0.585 +0.005 HK Land 5.750 +0.150 Stock name Close Change JMH 42.820 -0.140 JSH 25.000
      116 words
    • 2700 23 Transaction date: Sep 10 For a full listing of the closing prices, log on to BT online at http://business-times.asia1.com.sg after 11.30pm every trading day HONG KONG Vol HK$ +/-'000 Aeon Stores 14.2 -0.1 22 Angang Steel 12.36 -0.04 ***** Anhui Conch 31.35 0.8 9690 Anhuiexpresswa 5.04 -0.06 1581
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    • 186 23 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 2 5 0 0 0 11 2 5 Manufacturing 128 45 55 14 8 15 142 53 70 Commerce 44 19 16 8 7 6 52 26 22 Tpt/Stor/Comms 19 16 9
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    • 892 23 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 116 113.5 116 529.5 950 748 CIMBAsean40 100US$ US946 +7 27 950 945 944 954 37.8 308
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    • 78 23 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 36.5 6000 AVJennings A46.5cd +0.5 52 46.5 44 46.5 48 3.6 7.5 3.7 121.1 46.5 16 6017 Genting HK US$ US44 +2 *****9
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    • 123 23 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 82,206 82,206 189,600 189,600 Manufacturing 2,012,695 109,857 2,122,552 1,045,357 16,282 1,061,639 Commerce 698,359 252,793 951,152 638,754 48,181 686,935 Tpt/Stor/Comms 334,147 3,770 337,917 661,871 462 662,333 Finance 52,554 126 52,680 477,129 17 477,146 Construction 90,472 158,061
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  • Page 23 Advertisements
    • 21 23 Insiders'trades. Brokers' recommendations. Dividend table.The pages also cover transactions by directors and substantial shareholders. In other words, news you can use.
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  • FINANCE & COMMODITIES
    • 374 24 In local curr In S$ In US$ dy yr dy yr dy yr Sep 9 Index Change Change Change Change Change Change World Index Preliminary 817.4 0.9 -1.8 0.9 -6.9 1.0 -2.5 EAFE Preliminary 758.2 1.0 -3.4 0.9 -9.3 1.0 -5.1 Europe Preliminary 1117.2 1.1
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    • 182 24 Sep 10 $S -----Sep 9 Offer Bid 0vernight 0.08 0.05 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.03 US$ Offer Bid 7 days 0.33 0.23 1 month 0.48 0.28 2 months 0.50 0.30 3 months 0.55 0.35 6 months 0.75 0.55 9 months 0.85
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    • 22 24 Sep 9 S$ Bid Offer 1-month 1.3421 1.3431 2-months 1.3420 1.3431 3-months 1.3420 1.3430 6-months 1.3418 1.3429 Source: OCBC
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    • 159 24 Sep 9 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Oct 10 356.0 350.0 352.0 34 283 Nov 10 351.0 348.0 348.0 12 328 Dec 10 348.0 348.0 348.0 4 532 Jan 11 348.0 507 Feb 11 348.0 640
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    • 88 24 Sep 9 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 09.12.2010 0.29 0.26 0.26 1-Year BY*****W 03.05.2011 0.34 0.30 0.30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.23 5-Year N*****0N 1.375 01.10.2014 102.69
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    • 105 24 Sep 10 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 10 1023.50 1037.75 1032.00 1022.25 Nov 10 1031.00 1046.00 1047.50 1030.00 Jan 11 1040.25 1055.25 1055.75 1040.25 Mar 11 1048.00 1062.00 1062.00 1045.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Sep 10 41.25 41.08 41.36
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    • 77 24 CRUDE OIL PRODUCTS Sep 9 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 78.53 0.40 WTI (Near Mth) 74.26 -0.35 Dubai (1-Mth F) 76.04 0.91 Tapis blend 84.25 1.15 Minas 78.15 1.15 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 74.05 0.61 Jet Kerosene 87.95 0.67 US$/barrel Opec Oil
      77 words
    • 2291 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2.5 -0.5 8816 1 3 -8 2.40 3 6221 Asia-Pacific Strategic W*****6 33 -5.5 11 1 150 5 5.30 44 6227 ASJ Hldgs W*****1 3.5
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    • 132 24 Sep 9 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2220 1.2590 Can dollar 1.2880 1.3030 Euro 1.6990 1.7190 NZ dollar 0.9600 0.9820 Sterling pound 2.0640 2.0880 US dollar 1.3350 1.3500 Local dollars to 100 units of foreign
      132 words
    • 25 24 Sep 10 Open High Sett STI Sep SIMSCI Sep 357.8 359.3 Taiwan Sep 277.2 279.8 279.3 Source: MF Global (S) Pte. Ltd
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    • 76 24 Sep 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 10 2770 2782 2782 2770 43 740 Oct 10 2696 2700 2709 2677 795 8657 Nov 10 2640 2644 2655 2625 4085 ***** Dec 10 2625 2623
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    • 409 24 Sep 10 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep10 99.7050 0 481 Dec10 99.5600 0 8818 Mar11 99.4700 0 3216 Jun11 99.3750 0 2319 EUROYEN TIBOR FUTURES Sep10 99.6475 400 3557 Dec10 99.6625 99.6625 99.6600 99.6750 40 1998 Mar11 99.6850 99.6850 99.6750 99.6850 550 1402
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    • 464 24 Sep 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.957 6.273 0.729 7.184 43.035 83.201 0.774 10.795 2.876 1.275 79.207 40.833 1.241 6.691 0.938 29.495 28.552 0.600 0.924 Canada 1.044 6.552
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    • 85 24 Sep 9 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 24 Sep 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2405 1.2418 0.9243 0.9246 Canadian dollar 1.2955 1.2973 0.9653 0.9659 Euro 1.7029 1.7044 1.2688 1.2690 NZ dollar 0.9733 0.9743 0.7252 0.7254 Sterling pound 2.0680 2.0703 1.5409 1.5414
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    • 138 24 GOLD (US$/oz) Sep 10 Sep 09 Hong Kong 1248.10 1255.60 Sep 10 Sep 08 London 1247.75 1258.25 1248.50 1258.50 Source: Thomson Reuters CAST BAR Sep 09 (S$) Selling Buying Kilobar 58,043.22 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 130 54 5gm 369 271 10gm 659 541 20gm
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    • 70 24 Sep 10 Sep Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2071.75 2077.75 3 months 2100.00 2105.00 Copper, Grade A (US$/tonne) Cash 7471.75 7540.75 3 months 7486.00 7555.00 Lead (US$/tonne) Cash 2154.75 2171.75 3 months 2185.00 2201.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
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    • 82 24 Sep 10 COCOA (£/tonne) Close Prev High/Low Sep 10 1839 1872 1867/1834 Dec 10 1856 1876 1882/1846 Mar 11 1876 1897 1902/1870 May 11 1889 1914 1916/1885 COFFEE (US$/tonne) Close Prev High/Low Sep 10 1565 1574 1586/1579 Nov 10 1583 1591 1620/1581 Jan 11 1611 1617 1637/1608 Mar 11
      82 words
    • 5683 25 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 Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN New Orleans/Camden *Loads E./W.
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  • Page 26 Advertisements
    • 32 26 —H Can they FREIGHT I find .y° ur m services FORWARDER here in the urgently needed by shippers I Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
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  • Page 27 Advertisements
    • 288 27 MITSUBISHI ELECTRIC SECURITY SOLUTIONS m for a greener tomorrow RELIABLE SURVEILLANCE 5T J2 Mitsubishi Electric, a world leader in top quality security equipment, now brings you a new range of high-tech IP solutions to complement current usage. Our IP cameras feature full frame rates as well as the latest video
      288 words
  • BizIT
    • 1077 27  -  Equinix CEO Steve Smith, feels the city-state has all the ingredients to make it a DC destination of choice, writes RAJU CHELLAM <the bizIT interview> RAJU CHELLAM Staying on the cutting edge of know-how has kept Singapore relevant as a key technology hub in
      1,077 words
    • 617 27 Reuters [SEATTLE] The world’s largest software maker may have developed a problem of holding onto top executives with ambitions. Stephen Elop’s decision to jump from the top flight of Microsoft Corp, quitting as business division president, to run mobile phone company Nokia makes him the
      Reuters; BLOOMBERG  -  617 words
    • 605 27  -  By AMIT ROY CHOUDHURY TATA Communications (TC) plans to use its new Singapore data centre to provide cloud computing and managed hosting and storage services to customers. The Tata Communications Exchange (TCX), at Tai Seng near Paya Lebar, covers 66,000
      605 words
    • 799 28  -  Companies are more ready to commit to cloud technologies, though reservations on issues such as security and data ownership remain. VICTORIA HO reports VICTORIA HO THE conservative attitude of Singapore enterprises towards new technology are being challenged by customers, says Juniper Networks’ Asia-Pacific
      799 words
    • 218 28 Reuters [HELSINKI] Nokia board chairman Jorma Ollila will stay in his position until spring 2012, helping newly appointed chief executive Stephen Elop’s transition into the job, a Finnish newspaper said yesterday. Daily Helsingin Sanomat cited Nokia as the source of the information,
      Reuters  -  218 words

  • Page 28 Advertisements
    • 556 28 A Special Feature Brought To You By EMC EMC 2 where information lives EMC Guarantees 20% Capacity Advantage for its Unified Storage Systems The EMC Celerra unified storage platforms are flexible, affordable, and powerful. Starting with the entry-level Celerra NX4, to the mid-tier Celerra NS-120 and Celerra NS-480, and scaling
      556 words
    • 7 28 Microsoft executive pushes escape key, Page 27
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