The Business Times, 10 November 2011

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Total Pages: 34
1 34 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Thursday, November 10,
    23 words
  • 600 1  -  The two sides clash in court over value of help given to eSys over 4 months By LYNETTE KHOO [SINGAPORE] nTan Corporate Advisory gave crucial advice and help to eSys Technologies when the firm ran into financial distress in
    600 words
  • 142 1 HST INDEX 2,858.66 (-7.86) HST INDEX FUTURES 2,858 (-8) HSIMSCI 324.81 (-0.63) HSIMSCI FUTURES 323.30 (-2.30) FOREX US$ S$ US$ (S$ per US$) 1.272 (US$/S$ per 1.608 2.046 EURO (US$/S$/E) 1.379 1.754 Foreign currency per US$ S$ YEN 77.60 61.00 RM 3.114 2.448 HK$ 7.770 6.108 BAHT 30.67
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  • 741 1  -  Move could involve Qantas’s stalled project and is poised to shake up industry here By VEN SREENIVASAN [SINGAPORE] AirAsia’s flamboyant founder Tony Fernandes may be poised to launch a new full service airline a move that could have wide implications. There are even suggestions
    KELVIN CHNG/THE NEW PAPER  -  741 words
  • Page 1 Advertisements
    • 79 1 DEBT CRISIS Lessons from MF Global’s downfall PAGE 4 HIGHER SALARIES Pay increases likely to hit 4.5% in 2012 PAGE 12 Photo: Imagery LFC AG Ltd Liverpool v Tottenham Hotspur Watch them from your private VIP box at Anfield I REPORT, PAGE 2 PROPERTY Consortium to start selling Paya Lebar
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    • 97 1 BizIT New OpCo in town PAGE 29 OPINION Ngiam Tong Dow on climbing the global economic ladder PAGE 25 You never actually own a Patek Philippe. You merely look after it for the next generation. W; '*V&\ v ?!li PATEK PHILIPPE GENEVE Bcgi"your own tradition. Wffil lust SI* ■'aaa: c
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  • TOP STORIES
    • 458 2  -  That’s for winners of BT-linked private charity auction By LEE U-WEN [SINGAPORE] Standard Chartered Bank, the main sponsor of Liverpool Football Club, has revealed more details of an upcoming online auction that will see a very exclusive group of football fans watch
      Photo: Imagery © LFC & AG Ltd  -  458 words
    • 465 2 Reuters Bloomberg [ROME] Italy edged closer to financial and political collapse, threatening to bring the entire eurozone with it, as borrowing costs reached breaking point after Prime Minister Silvio Berlusconi’s promise to resign failed to raise optimism about the
      Reuters; Bloomberg  -  465 words
    • 719 2  -  To get around debt collection issue, they get moneylenders’ licences in China By GRACE LEONG [SINGAPORE] A growing number of Macau junket operators and their agents are getting licensed as moneylenders in mainland China to step up enforcement of gaming debt collections from
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    • 492 2 Fernandes tipped to launch premium airline AIRASIA’S flamboyant founder Tony Fernandes may be poised to launch a new full service airline a move that could have wide implications. There are even suggestions that he could take over Qantas’ premium carrier project in South-east Asia, which appears to have
      492 words
    • 638 4  -  Eurozone volatility, bad loans hit bank’s Q3 underlying PBT By SIOW LI SEN [SINGAPORE] HSBC said its strategy of expanding in the fast-growing markets of Asia including Singapore is progressing well as it gains in commercial banking and global banking and markets businesses. The
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    • 876 4  -  CEO Corzine’s hubris may have stemmed from his experience at Goldman Sachs By ROB CURRAN MF Global could be the last relic of a reckless Wall Street era or the first in a domino-line of financial institutions felled by the
      PHOTO: AP  -  876 words
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    • 126 5 BANKOFSINGAPORE International Private Banking Voted Outstanding Private Bank Asia Pacific 2011 by Private Banker International You've always known that success goes beyond the balance sheet. 11 Till n ii •tt m SJ tklllS VK 1 ■Jhh M I IK m. im:k 21 Yr <■ A... -T~ ;>s Like you, we
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  • COMPANY NEWS
    • 422 6  -  But operating revenue increases 3.6% to $572.2m By LYNN KAN STARHUB’S third-quarter net profit fell 7.6 per cent to $75.8 million from $82 million a year ago. Earnings per share for the three months ended Sept 30 dipped to 4.42 cents from
      422 words
    • 568 6  -  By FELDA CHAY PALM oil refiner Wilmar International reported a 23.7 per cent year-on-year surge in third-quarter net profit to US$321 million (S$407.7 million), with many of its key product segments seeing a jump in sales volumes. The earnings rise, however, falls short
      568 words
    • 230 6  -  By VICTORIA HO VENTURE Corp ended the third quarter with $583.6 million revenue, 13.9 per cent lower than the same period last year. The global provider of technology services, products and solutions said that the three months ended Sept 30 had lower revenue, due
      230 words
    • 241 6 Reuters [SINGAPORE] Commodities firm Noble Group posted its first quarterly loss in more than a decade, hurt by turbulence in commodity prices as the global economy weakened. But the group said it had made good progress in the planned listing of its agriculture business
      Reuters  -  241 words
    • 581 7  -  Revenue up 83% y-o-y at $45m; earnings per share was 3.3 cents By MICHELLE TAN ARA Asset Management posted a 95 per cent jump in its third-quarter net profit to $25.4 million from $13.0 million a year ago and is working on
      581 words
    • 327 7  -  By VICTORIA HO HO Bee Investment’s third-quar-ter net profit fell 16 per cent year on year to $32.6 million as revenue dropped 43.4 per cent to $55.95 million. This resulted in the main-board-listed real estate developer and investment firm chalking up a 34 per
      327 words
    • 381 7  -  Revenue rises 26%; overall gross profit margin was 37.1% By VEN SREENIVASAN ROBUST margins and a steady pick-up in business enabled crane specialist Tat Hong Holdings to boost its second-quarter bottom line by 78 per cent to $12.6 million, from $7.1 million
      381 words
    • 261 7 Reuters [HONG KONG] Hong Kong’s PCCW yesterday said that it would raise up to HK$11.05 billion (S$1.8 billion) by selling HKT Trust before an over-allotment option, as it aims to reduce debt and interest costs and allow the trust to
      Reuters  -  261 words
    • 292 9  -  Increase is due to fast-growing mobile phone market in Africa, South Asia By LYNN KAN THE fast-growing mobile phone market in Africa and South Asia has driven Singapore Telecommunications’ total mobile customer base to 424 million as at Sept 30, a 15 per cent increase
      292 words
    • 434 9  -  By KELLY TAY YANGZIJIANG Shipbuilding’s quarterly earnings topped the billion yuan mark for the first time, helped by higher margin contracts, the delivery of more vessels and tax subsidies. The third quarter ended Sept 30, 2011 registered a net profit of 1.02
      434 words
    • 452 9  -  By DOLLY CHIA FOOD and beverage products group Del Monte Pacific has more than doubled its third-quarter net profit to US$7.8 million from US$3.3 million a year ago as revenue climbed 19 per cent to US$105.3 million and gross profit margin rose. The
      452 words
    • 356 9  -  By MICHELLE TAN SC Global Developments has registered a net profit of $31.8 million for its third quarter, up 75 per cent on the back of stronger revenue contributions and a lower cost base. This works out to earnings per share of
      356 words
    • 397 10  -  OCBC grows SME customer base, receives more mandates By EMILYN YAP SMALL and medium-sized enterprises (SMEs) are holding back on listing plans as volatility rocks stock markets, but more are exploring mergers and acquisitions. There is a healthy pipe- line of SMEs looking at
      397 words
    • 439 10  -  By SIOW LI SEN UOB-KAY Hian Holdings expects trading volumes to continue to fall amid volatile markets in the next 6-12 months as the global economy falters, but the broker also sees acquisition opportunities in the region. “We’re pessimistic about November and
      439 words
    • 419 10 Reuters [SINGAPORE] The collapse of MF Global Holdings has boosted rivals in Singapore such as Phillip Capital, which have seen increased trading volumes in CFDs, a derivative contract that lets investors make leveraged bets. CFDs, or contracts for difference, are an
      Reuters  -  419 words
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  • Page 7 Advertisements
    • 85 7 Standard Chartered Just how committed is your bank? Across Asia, Africa and the Middle East, we have stayed true to our customers and clients for more than 150 years. All this time, our purpose has remained the same: to be a safe haven for deposits and a pioneer of new
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  • SINGAPORE MARKETS
    • 651 8  -  Structured warrants again among the actives, continuing a trend that started some three to four months ago STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI), having already risen ahead of Tuesday’s gains in Western markets, spent yesterday drifting within a narrow band before
      Source: Bloomberg  -  651 words
    • 4 8 DAILY
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    • 65 8 Nov 9 VALUE CLOSE BT OB/OS 79.00-187.00 BT CADI -*****.00 -2.00 BT 10-day MA -*****.00 +8.00 FTSE ST Mid Cap 629.38 +2.04 FTSE ST Small Cap 425.16 -0.28 FTSE ST All Share 684.88 -1.17 FTSE ST China Top 196.36 -0.56 FTSE ST China 232.57 -3.94 FTSE ST
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    • 59 8 VOLUME Genting SP 94,431,000 Golden Agri 88,142,000 Noble Grp 64,338,000 MDR W*****5 46,429,000 S i2i 44,085,000 Oceanus 32,980,000 SingTel 31,978,000 Yangzijiang 29,532,000 HPH Trust US$ 28,961,000 CNMC 26,319,000 VALUE($) Genting SP 163,070,295 Noble Grp 104,433,824 Wilmar 102,961,710 SingTel 100,718,950 UOB 71,268,125 DBS Grp 63,666,059 Golden Agri 58,694,510
      59 words
    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 8 4 0 0 0 4 8 4 Manufacturing 42 49 49 6 3 5 48 52 54 Commerce 18 16 12 5 2 3 23 18 15 Tpt/Stor/Comms 12 16 11
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    • BROKERS’ TAKE
      • 352 8 Nov 9 close: $1.075 DMG PARTNERS SECURITIES, Nov 9 CWT’s Q3 FY11 core earnings were in line with our expectations, surging 190.5 per centy-o-y to hit $15.8 million, mainly due to MRI Trading’s maiden contribution to the group. With 9M FY11 core earnings making up 72.3 per cent of
        352 words
      • 269 8  -  Nov 9: $0.57 DBS GROUP RESEARCH, Nov 9 Compiled by LYNETTE KHOO SOUND Global has won a 190 million yuan build-operate-transfer contract to invest and construct a wastewater treatment plant with a designed capacity of 80,000 tonnes/day in Ningyuan, Anshan City, Liaoning Province. The concession period of this
        269 words
    • 119 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,721 15,721 71,278 71,278 Manufacturing 188,273 5,700 193,973 246,953 54 247,007 Commerce 136,160 3,579 139,739 193,032 433 193,465 Tpt/Stor/Comms 153,374 14,287 167,661 183,093 1,466 184,558 Finance 16,701 16,701 174,614 174,614 Construction 32,077 19,816 51,893 9,145
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    • 114 8 Stock name Close Change CapMallsAsia 1.350 -0.015 CapitaLand 2.660 -0.030 CapitaMall 1.790 +0.005 CityDev 10.630 -0.110 ComfortDelGro 1.410 -0.015 DBS Grp 12.900 +0.140 F&N 6.230 -0.030 GLP 1.780 -0.075 Genting SP 1.705 -0.045 Golden Agri 0.670 +0.005 HK Land 4.910 -0.090 JMH 53.470 -0.280 JSH 33.020
      114 words
    • 526 8 CURRENCIES Reuters [LONDON] The euro fell against the safe-haven US dollar and Japanese yen yesterday as the eurozone’s escalating debt crisis saw investors such as macro funds step up sales of the single currency after Italy’s 10-year bond yield hit
      Reuters  -  526 words
    • 113 8 BY CENTS CLOSE UP JSH 3302 117.0 2.9 DBXT MSEurope 10US$ 4252 100.5 1.9 Asia Pac Brew 2590 90.0 3.6 DBXT MSJAP 10US$ 3547 83.9 1.9 DBXT FTChina25 10US$ 2870 72.5 2.0 Jardine C&C 4656 62.0 1.3 DBXT MSTHAI 10US$ 1575 45.8 2.3 DBXT MSINDO 10us$ 1528 39.4 2.1
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    • 124 8 BY CENTS CLOSE DOWN DBS Bk 4.7% NCPS 100 ***** -98.0 -0.9 DBXT Nifty 10US$ ***** -69.9 -0.5 GLD 10US$ ***** -63.6 -0.3 JMH 5347 -35.6 -0.5 DBXT S&P Short 10US$ 4180 -33.1 -0.6 Lyxor MS India 10US$ 1407 -29.3 -1.6 Wilmar 536 -23.0 -4.1 Lyxor EmergingMkts 1 1004
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  • Page 10 Advertisements
    • 1563 10 third quarter results 2011 (Incorporated in Bermuda with limited liability) Dear Shareholders The Board of Directors of Noble Group Limited is pleased to present the unaudited consolidated financial results for the third quarter and the first nine months of 2011, together with those of the corresponding periods of 2010. Revenueforthefirstninemonths2011totalledUS$60.6billion,
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  • Page 11 Advertisements
    • 399 11 o Smarter computing needs smarter clouds. To build a smarter planet, we need smarter computing computing that is designed for big data, tuned for specific tasks and managed in the cloud. Cloud computing, in particular, is a hot topic these days. Many businesses are discovering this new model's power to
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  • SINGAPORE NEWS
    • 498 12  -  Research house sees big sovereign debt defaults in the offing By TEH SHI NING THE euro’s chances of survival have fallen considerably the crisis will deepen and ultimately result in a break-up of the currency union, says independent research house Capital Economics. Major
      498 words
    • 480 12  -  By LEE U-WEN in Honolulu PRIME Minister Lee Hsien Loong is travelling to Hawaii to take part in this weekend’s Asia-Pacific Economic Cooperation (Apec) summit, which will be hosted by US President Barack Obama in the sun-kissed state where he was
      480 words
    • 292 12  -  By GRACE LEONG VEGETARIAN food stall owner Choo Hong Eng will be getting her $416,742.11 jackpot payout after all. The 58-year-old was embroiled in a dispute with Marina Bay Sands after she apparently won “cash bonus” playing a slot machine on Oct
      292 words
    • 163 12 THE People’s Action Party has appointed six people to fill vacancies in its central executive committee. It said yesterday that the six were chosen through a poll of branch chairmen and cadres representing PAP branches, district committees, the women’s wing and Young PAP.
      163 words
    • 429 12  -  By CHUANG PECK MING WITH the economy going downhill, some employers here are already talking about a hiring freeze. However, employers have no plans to freeze or cut pay. In fact, salaries are tipped to make a bigger jump next year
      Source: HRBS C&B/Market Intelligence Survey, April and July 2011  -  429 words
    • 293 12  -  By EMILYN YAP LOCAL firms were more prompt in paying their bills in the third quarter compared with the second quarter, though they were still not as timely as they were a year ago. The Singapore Commercial Credit Bureau (SCCB) released fresh data
      293 words
    • 286 12 GOVERNMENT agencies better cater to business needs as they show improved efforts to attend and respond to queries. The average Pro-Enter-prise Index (PEI) of the 26 government agencies surveyed this year was 74.8. “Our consistently strong PEI score reflects our agencies’ continued efforts
      286 words
  • Page 12 Advertisements
    • 425 12 W WATd srsszu J J L J www.cats.com.sg/notices DTS HOLDINGS SINGAPORE PTE. LTD. (UEN: *****6892Z) (Incorporated in Singapore) PROPOSED AMALGAMATION OF DTS HOLDINGS SINGAPORE PTE. LTD. AND DTS VENTURES PTE. LTD. UNDER SECTIONS 215B AND 215C OF THE COMPANIES ACT, CHAPTER 50 OF SINGAPORE Notice is hereby given that DTS
      425 words
    • 388 12 DTS VENTURES PTE. LTD. (UEN:*****7295C) (Incorporated in Singapore) PROPOSED AMALGAMATION OF DTS HOLDINGS SINGAPORE PTE. LTD. AND DTS VENTURES PTE. LTD. UNDER SECTIONS 215B AND 215C OF THE COMPANIES ACT, CHAPTER 50 OF SINGAPORE Notice is hereby given that DTS Ventures Pte Ltd (“DTS Ventures”) intends to hold an extraordinary
      388 words

  • ECONOMY WATCH
    • 385 13 Reuters [SYDNEY] A closely watched measure of Australian consumer confidence jumped to six-month highs in November as a cut in interest rates lifted optimism about the economic outlook and helped offset gloomy news from Europe. Yesterday’s data also showed tentative signs of a
      Reuters; REUTERS  -  385 words
    • 319 13 This occurs even as importers and exporters raised fees, charges: Apec Bloomberg [HONOLULU] Trade transaction costs in the Asia-Pacific region fell 5 per cent between 2006 and 2010, saving businesses about US$58.7 billion, according to a study by the Asia-Pacific Economic Cooperation (Apec)
      Bloomberg  -  319 words
    • 601 13 Move comes amid concerns over eurozone, lower inflation pressures AFP [HONG KONG] Asian central banks have started slashing interest rates as the region’s export-driven economies shudder at the prospect of a eurozone on the brink of catastrophe and a floundering US recovery. Booming
      AFP  -  601 words
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      374 words

  • Page 14 Advertisements
    • 5908 14 LEEDEN LIMITED TAIYO NIPPON SANSO SINGAPORE PTE. LTD. (Incorporated in Singapore) (Incorporated in Singapore) Company Registration Number: *****0172G Company Registration Number: *****0433M JOINT ANNOUNCEMENT PROPOSED VOLUNTARY DELISTING OF LEEDEN LIMITED 1. INTRODUCTION 1.1 Leeden Limited (“Leeden”) and Taiyo Nippon Sanso Singapore Pte. Ltd. (“TNSC Singapore” or the “Offeror”) wish to
      5,908 words

  • MALAYSIA/INDONESIA
    • 342 15 Bloomberg [JAKARTA] Inong Malinda Dee, a former relationship manager at Citigroup Inc’s Indonesia unit, stole more than US$5 million from clients by having them sign blank transfer forms or forging their signatures, a prosecutor said. Ms Dee used the forms to transfer US$5.15
      Bloomberg; BLOOMBERG  -  342 words
    • 247 15 Reuters [JAKARTA] Union workers at Freeport Indonesia Grasberg copper mine plan to extend a strike into a third month, which would make it the worst work stoppage in the history of the country’s mining industry. Workers had been due to end a strike
      Reuters  -  247 words
    • 562 15  -  Emergence of new shareholders, including PM’s son, linked to price moves By PAULINE NG in Kuala Lumpur IT was another day of heady gains for little known wood-based product manufacturer Harvest Court Industries yesterday as investors bet on its potential fortune following
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  • GREATER CHINA/INDIA
    • 717 16 Consumer inflation falls to 5.5% from 6.1% in Sept; factory output growth slows AP Bloomberg [BEIJING] China’s stubbornly high inflation fell in October, giving Beijing room to stimulate the world’s No 2 economy amid weak US and European growth. Consumer
      AP; Bloomberg  -  717 words
    • 447 16 Bloomberg [HONG KONG] Hong Kong chief executive Donald Tsang said that the city’s economy may have slipped into a recession in the third quarter as Europe’s debt crisis roiled markets. Growth could be as little as 2 per cent next year after
      Bloomberg  -  447 words
    • 188 16 Reuters [MUMBAI] Moody’s Investor Service yesterday downgraded its outlook for India’s banking system to “negative” from “stable”, as it warned of slowing growth at home and overseas hitting asset quality, capitalisation and profitability. A curbing of economic growth and increased borrowing by the government will
      Reuters  -  188 words
  • Page 16 Advertisements
    • 361 16 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 UNILEVER SINGAPORE FOODS PTE. LTD. (Company Registration No. *****0326D) MEMBERS'VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company which was deemed to have been held on 31 October 2011, the following resolutions were passed pursuant to Section 179(6) of the
      361 words
    • 426 16 IN THE MATTER OF THE COMPANIES ACT, CAR 50 AND IN THE MATTER OF LAFARGE ASIA PACIFIC PTE LTD (In Members' Voluntary Liquidation) Reg No. *****1803D NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 72 Sungei Kadut Street 1 Singapore *****2
      426 words
    • 942 16 MOTirFS J r W J J lj www.cats.com.sg/notices NOTICE Mr Herrman Bin Mohamed Ali (NRIC SXXXX188C) has ceased to be an employee of Unidive Marine Services Pte Ltd with effect from 31st August 2011. The said Mr Herrman Bin Mohamed Ali is therefore not authorised to make any representations, incur
      942 words
    • 969 16 GLOBAL INVESTMENTS LIMITED (A mutual fund company incorporated with limited liability in Bermuda) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a Special General Meeting of Global Investments Limited (the “Company”) will be held at Holiday Inn Singapore Orchard City Centre, Crystal Suite, Level 2, 11 Cavenagh Road,
      969 words

  • WORLD
    • 529 17 Firms like Toyota, Hitachi, Canon forced to halt output Bloomberg [BANGKOK] Japan, Thailand’s biggest foreign investor, may be the largest overseas economic victim of record floods forcing companies including Toyota, Hitachi and Canon to halt output in the country. Toyota, Asia’s biggest carmaker,
      Bloomberg; BLOOMBERG  -  529 words
    • 271 17 AFP [BERLIN] German Chancellor Angela Merkel wants a minimum wage in sectors without one in a bid to create a “fair” labour market in the eurozone’s top economy, she told German news agency dpa yesterday. Ms Merkel said in an interview ahead of a congress
      AFP  -  271 words
    • 629 17 Global economic gloom forces broad retreat across entire sector in Asia Reu ters [HONG KONG] Bankers, enduring rounds of deep job cuts, face the grim prospect of having nowhere to turn to for immediate employment in the industry, as nearly all branches of
      Reuters  -  629 words
    • 566 18 Judge sides with govt on its request for judgment without trial Bloomberg [NEW YORK] Raj Rajaratnam, whose 11-year prison sentence is the longest in US history for insider trading, was ordered to pay a record US$92.8 million penalty in a case brought
      Bloomberg; AP  -  566 words
    • 333 18 He doesn’t rule out it may have occurred without his knowledge, says report AFP [TOKYO] A former president of scandal-hit Olympus said he has no memory of concealing losses on securities investments during his tenure, but did not rule out it may have
      AFP  -  333 words
    • 448 18 Concerns that CEO’s temporary sick leave may hit restructuring Reuters [LONDON] Credit rating agency Moody’s said it may downgrade part-national-ised British bank Lloyds, citing concerns that the temporary absence of Lloyds’ chief executive due to health issues may hinder its restructuring plans. “The review has
      Reuters  -  448 words
    • 472 19 It plans to boost the staff who process visas in the 2 countries by 100 people Bloomberg [BRASILIA] The US is struggling to keep up with surging demand for visas in China and Brazil, as the growing middle class in the world’s
      Bloomberg  -  472 words
    • 336 19 Reuters [MELBOURNE] Rupert Murdoch is going back to his roots, taking up the role of chairman of News Corp’s Australian arm with the current local chairman and chief executive stepping down, as the publisher battles a hostile government. Mr Murdoch announced yesterday News
      Reuters  -  336 words
    • 518 20 Ministers have examined offering state guarantees to borrower banks Reuters [BRUSSELS] European Union (EU) finance ministers failed to agree how to shore up sagging banks and avert a credit squeeze, as borrowing costs for Italy broke a psychological mark yesterday, threatening to
      Reuters  -  518 words
    • 397 20 Bloomberg [NEW YORK] Federal Reserve chairman Ben Bernanke said policymakers should think “carefully” about how to support small businesses and entrepreneurs to boost job growth in the face of “difficult economic times”. “Small businesses have played an important role in fuelling past economic recoveries,”
      Bloomberg  -  397 words
    • 534 20 LATEST US DATA NYT Bloomberg [WASHINGTON] Inventories at US wholesalers unexpectedly declined in September for the first time since 2009 as a gain in sales helped distributors keep stockpiles in line with demand. The 0.1 per cent decrease in inventories compared with a 0.5
      NYT; Bloomberg  -  534 words
    • 568 20 Reuters [BEIJING] The head of the International Monetary Fund (IMF) yesterday warned that Europe’s debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden of restoring growth and confidence.
      Reuters; AP  -  568 words
    • 237 20 Reuters [HONG KONG] Goldman Sachs is selling an up to US$1.54 billion stake in China’s ICBC, the Wall Street firm’s third sell down of its stake in the world’s largest bank by value, as Goldman seeks to trim exposure in the investment,
      Reuters  -  237 words
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      927 words

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    • 170 19 UCLA Xl/Shr/ N a1: ona University of Singapore UCLA NUS EXECUTIVE MBA RANKED TOP 10 EMBA GLOBALLY BY FINANCIAL TIMES 2011 Dr Maxim Mamin Russian Class of 2012 Senior Vice President Head of Healthcare Sector Siemens, Malaysia Emi Sugiura Japanese Class of 2012 Brand Finance Manager Unilever, Japan Alejandra Bravo
      170 words
    • 1916 19 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of T T J Holdings Limited will be held at 8 Wilkie Road, #03-08, Wilkie Edge, Singapore *****5 on 30 November 2011 at 2.30 p.m. for the following purposes: AS ORDINARY BUSINESS 1. To receive and
      1,916 words

  • Page 20 Advertisements
    • 135 20 LEARN HOW YOU CAN EARN UP TO 15% ROI Super timing for Aussie Property Learn how your money can work for you to provide great returns and build equity in one of the safest long term asset classes. WHEN: Sat 12th November 1.30pm Sun 13th November 1.30pm WHERE: Mandarin Oriental
      135 words

  • AVIATION
    • 402 21 Reuters [BEIJING] Air China Ltd and three other major Chinese carriers are planning to jointly sue the European Union for its plan to charge airlines for carbon emissions, a senior official with the country’s industry group said yesterday. Under the EU’s proposals to
      Reuters; BLOOMBERG  -  402 words
    • 594 21 Shares dip as it lowers full-year outlook slightly Reuters [STOCKHOLM] Airline SAS, the flag carrier of Norway, Sweden and Denmark, said that the global slowdown would bite in the fourth quarter and that it would only make a slight profit for
      Reuters; BLOOMBERG  -  594 words
    • 334 21 Reuters [MUMBAI] Jet Airways Ltd, India’s top private carrier, said yesterday it has no plans to cut jobs in drive to save costs and will instead look to non-payroll areas to streamline operations. Yesterday, The Economic Times paper reported, citing unnamed top
      Reuters  -  334 words
    • 583 21 Airlines scrambling to renew fleets with fuel-efficient jets to cut a major cost Reuters [TOULOUSE] Sales of a revamped Airbus jetliner topped 1,000 units worth US$100 billion as the European planemaker widened its lead over Boeing in a race that shows few
      Reuters  -  583 words
  • Page 21 Advertisements
    • 622 21 WATS NOTICES A VGO Corporation Limited (Incorporated in the Republic of Singapore on 9 March 1993) (Company Registration Number: *****1388D) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of VGO Corporation Limited (the "Company") will be held at 10 Changi South Lane #07-01, Singapore
      622 words
  • Page 21 Miscellaneous
    • 391 21 CRYPTIC CROSSWORD Across 1 What a buccaneering student does in plot (10) 6 Instrument making note, first to blast off (4) 9 One getting in on the act, so to speak (10) 10 Everyone joining start of march from avenue (4) 12 We will embrace one female who is not
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  • 3029 22 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
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  • Page 22 Advertisements

  • SHIPPING
    • 440 23 Concerns over China relationship with global maritime industry reignited Reuters [SINGAPORE] Singapore has impounded a vessel operated by China Cosco Holdings because of a payment dispute, the company said yesterday, reigniting concerns over China’s relationship with the global maritime industry. The 74,000-tonne bulk
      Reuters  -  440 words
    • 380 23 Reuters [AMSTERDAM] A Dutch fund that invests in sea freight ships plans a listing on the Amsterdam exchange and hopes to raise a few million dollars to attract new investors and seize opportunities from a market in decline, its chief executive said on Tuesday. Dutch
      Reuters  -  380 words
    • 394 23 Bloomberg [COPENHAGEN] AP Moel-ler-Maersk A/S said that its container shipping line, the world’s biggest, will lose money this year, lowering a previous forecast of a “modest” profit as freight rates plunged. Maersk Line posted a third-quarter net loss of 1.58 billion kroner (S$371.8 million) compared with
      Bloomberg; BLOOMBERG  -  394 words
    • 467 23 They expect stronger demand for raw materials to reduce vessel glut Bloomberg [LONDON] Owners of dry-bulk ships are rejecting multi-year charters in expectation that stronger demand for raw materials will reduce a glut of vessels that is depressing rates, according to Eagle Bulk Shipping
      Bloomberg  -  467 words
  • Page 23 Advertisements
    • 32 23 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES
      32 words
    • 34 23 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. _THE BUSINESS TIMES SHIPPING TIMES Legal services required by shippers owners Can they find your services here in the Shipping Times?
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  • EDITORIAL & OPINION
    • 534 24 EDITORIAL MALAYSIA’S quarterly export growth expanded 11.5 per cent in the third quarter compared with 8.8 per cent in the previous quarter. Results were even better for September, with expansion of 16.6 per cent compared with 10.9 per cent in August and against
      534 words
    • 1063 24  -  Govts have identified crucial problems but they have yet to agree on cause and effect By GENE FRIEDA The writer is a global strategist for Moore Europe Capital Management Project Syndicate THE good news for Europe is that it will not re-enact the dramatic
      Project Syndicate; BLOOMBERG  -  1,063 words
    • 831 24  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent ASIAN leaders attending the G-20 summit in Cannes last week were dismayed to see their European counterparts locked in internecine strife over the eurozone crisis. But they could not afford to feel smug. The problems facing
      831 words
    • 1005 25  -  The real goal of R&D is raising Singapore’s competence to solve complex problems, putting it ahead of its competitors By NGIAM TONG DOW The writer is a former senior civil servant who served as permanent secretary in several ministries. FOR 140 years, from its founding
      ALPHONSUS CHERN/ THE STRAITS TIMES  -  1,005 words
    • 820 25  -  By MUHAMAD NOOR The writer is Apec executive director. Leaders of 21 countries in Apec will meet in Honolulu on Nov 12-13 for the summit WITH the global economy once again mired in uncertainty, reform of trade regulations is crucial. Although stimulus packages, interest
      BLOOMBERG  -  820 words
    • 396 25  -  By IAN CAMPBELL REUTERS BREAKINGVIEWS THE Greek government is trying to remain in the eurozone. What would happen to a revived drachma if the country were to exit? Historical comparisons paint an ugly picture. After the breaking of a long-standing peg, currencies
      REUTERS  -  396 words


  • SINGAPORE STOCKS
    • 7989 26 Transaction date: Nov 9 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 12 8Telecom 13.5 10 14 7.8 4.5 2.8 64.7 9.5 4.1 A-Sonic 4.6 4.9 5.7 2.8 1.7 32.9 65
      7,989 words
    • 1565 27 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.2 t 800 Super 12.2 -0.4 100 12.6 12.2 12.4 13.7 4.7 4.5 4.7 21.8 5.5 2.5 t AA Grp 3.3 3 3.3
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    • 10078 27 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.19/ APS Alpha Fund (USD)!** 0.94/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.62/ Aberdeen Asset Mgt Asia Limited American Opp 0.6268/ Asian Credit Fund
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    • 225 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 55.5 34 AVJennings A38 38 40 3.6 9.2 3 99 53 25.5 Genting HK US$ US28.5 -0.5 5113 29.5 28.5 28.5 29 1876.6 15 10 OGL Resources
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    • 855 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 108 ABF SG Bond ETF 117 +0.5 15 117 117 117 118 534.1 1261 856 CIMBAsean40 100US$ US988 +9 9 992 987 985 995 39.5
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  • FINANCE & COMMODITIES
    • 373 28 In local curr In S$ In US$ dy yr dy yr dy yr Nov 8 Index Change Change Change Change Change Change World Preliminary 835.7 0.0 -6.9 0.0 -6.5 0.2 -5.7 EAFE Preliminary 688.0 0.3 -14.1 0.4 -12.2 0.6 -11.4 Europe Preliminary 1021.2 0.9 -12.6
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    • 130 28 SMX MARKET As on 8 November 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT DEC2011 1797.40 1785.50 1799.30 181 SILVER FUT DEC2011 35.035 34.565 35.160 35 CURRENCY AUD-USD FUT DEC2011 1.0314 1.0228 1.0285 4492 EUR-USD FUT DEC2011 1.3820 1.3723 1.3777 *****
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    • 77 28 CRUDE OIL PRODUCTS Nov 8 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.06 1.08 WTI (Near Mth) 96.93 1.20 Dubai (1-Mth F) 109.99 3.53 Tapis blend 122.91 4.54 Minas 117.61 5.04 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 97.83 2.27 Jet Kerosene 132.05 4.15 US$/barrel Opec Oil
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    • 107 28 Nov 8 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 11 1195.25 1192.25 1206.50 1192.75 Jan 12 1205.00 1201.75 1217.25 1199.75 Mar 12 1214.75 1211.50 1227.00 1209.75 May 12 1225.00 1221.50 1236.50 1219.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 11 51.85
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    • 79 28 Nov 9 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 09.02.2012 0.30 1-Year BY*****W 01.11.2012 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.46 5-Year N*****0W 1.125 01.04.2016 102.48 102.62 102.61 10-Year NX*****X
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    • 455 28 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec11 99.4450 0 2712 Mar12 99.3550 0 3678 Jun12 99.3500 0 1101 Sep12 99.3550 0 406 EUROYEN TIBOR FUTURES Dec11 99.6725 99.6800 99.6725 99.6800 0 2481 Mar12 99.6775 0 2178 Jun12 99.6800 0 1470 Sep12 99.6775 0 710 Dec12
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    • 175 28 Nov 9 SICOM RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Dec 11 332.0 330.0 330.0 12 283 Jan 12 330.0 330.0 330.0 3 266 Feb 12 332.0 201 Mar 12 341.0 341.0 340.0 7 279 Apr 12 358.0
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    • 71 28 Nov 8 Nov 8 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2119.75 2100.75 3 months 2140.00 2121.00 Copper, Grade A (US$/tonne) Cash 7782.50 7806.50 3 months 7800.00 7825.00 Lead (US$/tonne) Cash 1996.75 1987.00 3 months 2021.00 2010.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 82 28 Nov 8 COCOA (£/tonne) Close Prev High/Low Dec 11 1652 1689 1693/1643 Mar 12 1673 1709 1713/1662 May 12 1688 1725 1727/1680 Jul 12 1703 1739 1741/1703 COFFEE (US$/tonne) Close Prev High/Low Nov 11 1799 1793 1801/1800 Jan 12 1844 1836 1863/1821 Mar 12 1879 1870 1896/1857 May 12
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    • 2040 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 45 52.50 30 ASJ Hldgs W*****1 0.2 1 4 17 18.00 3 AlliedTech W*****2 1.7 1 4 24 Ascendas Reit.ES.1111 203 Aztech Grp W*****3 0.4
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    • 464 28 Nov 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.046 6.554 0.749 8.030 51.528 92.193 0.802 11.548 3.218 1.300 89.247 44.499 1.315 8.177 0.927 31.066 31.694 0.643 1.034 Canada 0.956 6.268
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    • 82 28 Nov 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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 137 28 Nov 9 GOLD (US$/oz) Nov 09 Nov 08 Hong Kong 1789.00 1791.00 Nov 08 Nov 07 London 1794.19 1782.19 1795.91 1783.24 Source: Thomson Reuters CAST BAR Nov 09 (S$) Selling Buying Kilobar 78,128.19 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 175 73 5gm 497 364 10gm 888
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    • 57 28 Nov 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 11 3065 3065 3065 3065 5 753 Dec 11 3067 3044 3068 3034 2193 ***** Jan 12 3062 3034 3068 3027 ***** ***** Feb 12 3060 3042
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    • 21 28 Nov 9 Open High Sett STI Nov 2858 SIMSCI Nov 325.4 328.0 323.3 Taiwan Nov 269.0 271.4 269.4
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    • 154 28 Nov 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3139 1.3156 1.0333 1.0338 Canadian dollar 1.2566 1.2581 0.9882 0.9886 Euro 1.7535 1.7554 1.3790 1.3794 NZ dollar 1.0105 1.0120 0.7947 0.7952 Sterling pound 2.0446 2.0466 1.6079 1.6082
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    • 22 28 Nov 9 S$ Bid Offer 1-month 1.2716 1.2726 2-months 1.2715 1.2726 3-months 1.2714 1.2724 6-months 1.2692 1.2706 Source: OCBC
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    • 121 28 As at 9am Nov 09 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.345 1.281 Can dollar 1.277 1.228 Euro 1.782 1.714 Sterling pound 2.075 1.996 NZ dollar 1.037 0.988 US dollar 1.285 1.236 Local dollars to 100 units of foreign
      121 words
    • 155 28 Nov 9 $S Offer Bid 0vernight 0.02 0.01 1-month 1/4 1/8 2-months 1/4 1/8 3-months 5/16 3/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.55 0.35 3 months 0.60 0.40 6 months 0.80 0.60 9 months 0.95 0.75 12
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 532 29  -  Viewqwest to offer access to the Next Gen NBN, reports AMIT ROY CHOUDHURY COMMUNICA-TIONSservicesproviderViewqwest is investing $8 million in infrastructure to offer bandwidth to companies over the Next Generation Nationwide Broadband Network (Next Gen NBN). The Next Gen NBN is the wired network of the Next
      532 words
    • 287 29  -  By VICTORIA HO THE Singapore Computer Society (SCS) has launched the country’s first online registry and networking platform for infocomm technology (ICT) professionals. Called InfoPier, the project was supported by the Infocomm Development Authority (IDA) and aims to bring together ICT professionals, students, and
      287 words
    • 380 29  -  By AMIT ROY CHOUDHURY THE number of patents filed in Singapore has increased by more than 60 per cent since 1998 and IP (intellectual property) related sectors in Singapore are estimated to be worth more than $40 billion, according to the Intellectual Property Office
      380 words
  • Page 29 Advertisements
    • 219 29 Microsoft Transform your business. VA <1 V —H P Real Ca$h. Real Deal. Microsoft Cashback Campaign for customers ESI l!V •S;> u 1 yT A> Transform your business for less. In a world that constantly sets new benchmarks for efficiencies and productivity, the right technology at your fingertips can mean
      219 words

  • PROPERTY
    • 1488 30 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Emerald Gdn Apt 12/10/2011 999 829 1300 1568 The Clift Apt 12/10/2011 99
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    • 386 30 Asking price of $323m is lower than the $338m sought in May [SINGAPORE] Vista Park at South Buona Vista Road is back on the market. This time the asking price for the collective sale site is the $323 million reserve price set
      386 words
    • 511 31 Sixth monthly gain comes as more first-time buyers enter market Bloomberg [SYDNEY] Australian home-loan approvals rose more than economists forecast in September, the sixth straight monthly gain, as more first-time buyers entered the market. The number of loans granted to build or buy houses and
      Bloomberg; BLOOMBERG  -  511 words
    • 719 32  -  The 13-storey development is expected to be ready by mid-2014 By KALPANA RASHIWALA [SINGAPORE] A consortium comprising Low Keng Huat, Guthrie and Sun Venture group plans to begin selling next month strata office units in its $900 million office
      719 words
    • 232 32 Reuters [BEIJING] China’s property sales fell in October from year-ago levels for the first time in six months, official data showed yesterday, indicating that market cooling measures have started to bite even though overall real estate investment levels remain robust. Property sales fell 11.5
      Reuters  -  232 words
    • 766 33  -  Guthrie GTS’s Michael Leong weighs in on Paya Lebar site saga By KALPANA RASHIWALA [SINGAPORE] Guthrie GTS executive director Michael Leong has weighed in on the discussion about URA’s decision last week not to award a commercial site in Paya Lebar to the sole bidder
      FILE PHOTO  -  766 words
  • Page 30 Advertisements
    • 97 30 SAFFRON London Singapore Hong Kong LONDON PROPERTY OWNERS Central London's No. I Estate Agent EXPERTS IN LETTINGS PROPERTY MANAGEMENT Saffron rent a new London Property every 30 minutes! Central St. Giles UNISON Clapham Mews Neo Bezier Arthaus Baltimore Wharf Bramah Monty Nawaz +65 6832 5188 +65 9730 8851 Corporate Professional
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  • Page 31 Advertisements
    • 286 31 FREEHOLD WAREHOUSE/ OFFICE UNITS For Sale Size ranges from 4,991 6,189 sq ft per unit Whole floor plate available Selling with tenancy Immediate vicinity of Sin Ming, Bishan, Ang Mo Kio HDB estate, terraced factories and private housing Near amenities like eateries, banks, etc... Convenient public transport and well-served by
      286 words
    • 284 31 DRAYCOTT PARK PRIME FREEHOLD RESIDENTIAL REDEVELOPMENT SITE Stevens Road The Draycott Draycott 8 Ardmore Park The Claymore Subject Property The Tanglin Club Contact: CBRE PTE. LTD. Investment Properties Tel: 6224 8181 6 Battery Road #32-01 Singapore *****9 Goodwood Park Hotel The Tanglin Club Sports Centre The American Club Uber Prime
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  • Page 31 Miscellaneous
    • 23 31 0 otJ Cfmr/o a f E <$ ff INGAPOR 18 NOVEMBER *****.30PM THE COLISEUMlHARD ROCK HOEL® SINGAPORE RESORTS WORLD™ SENTOSA 1 evolution In entertainment
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  • Page 32 Advertisements
    • 139 32 Large Elevated Residential Site at Upper Bukit Timah Not To Scale. For Reference Only Contact: DTZ Investment Advisory Services Tel: 6293 3228 Freehold Site Area 14,035.3 sq m (151,075 sq ft) MP 2008 ‘Residential’, PR 1.4, 5 storeys Within 1 km to Pei Hwa Presbyterian Primary School About 800m to
      139 words
    • 23 32 IDEA FOR A&A Check this out and many other properties in CATS Classified in The Straits Times now! MATS BUY IT-SELL IT-FIND IT
      23 words
    • 30 32 For Sale by Tender Lok Yang Road (Jurong) Tender Closing: 25 Nov 2011 (Fri), 3pm Veronica Chao (R*****8E) 9111 7775 Chow Kok Seng (R*****6J) 9685 7557 Agency Licence No. L*****36J
      30 words

  • Page 33 Advertisements
    • 89 33 Estate Agent Licence No. L*****36J Knight Frank /M. /SMS. <s ou mm* V>N VVv r P RADIUS INTERNATIONAL HOTEL In the Heart of Kuala Lumpur Freehold, single ownership 458-room hotel with full range of services, facilities and amenities Prominently located in Bukit Bintang, Central KL Walking distance to KL's retail
      89 words
    • 473 33 Estate Agent Licence No. L*****36J Sprawling, tranquil, hillside plot off Pasir Panjang Road Land area 29,659.1 sq m (approx. 319,248 sq ft ʻResidentialʼ with GPR 1.4 Next to Kent Ridge Park Rd Near NUS, CBD, RWS and Vivocity Near Pasir Panjang MRT Leasehold 99 years Clementi NUS NUH A ye
      473 words

  • Page 34 Advertisements
    • 343 34 Enjoy the most spectacular views of Orchard Road and the city from your personal swimming pool in the Boulevard Penthouse. A private roof terrace and garden provide a stunning setting for exclusive soirees and intimate parties. Boulevard Vue's collection of 28 bespoke residences is a testament to meticulous craftsmanship. The
      343 words