The Business Times, 9 September 2009

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Total Pages: 32
1 32 The Business Times
  • 40 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg Sf!i A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 123/08/2009 Wednesday, September 9,2009 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 123/08/2009 Wednesday, September 9,2009
    40 words
  • 713 1  -  SIOW LI SEN Green Card holders and US citizens with undeclared offshore assets have until Sept 23 to come clean By [SINGAPORE] Thousands of American taxpayers in Asia are facing a Sept 23 deadline to disclose their undeclared offshore assets as the
    713 words
  • 826 1  -  KALPANA RASHIWALA UOL Group bid tops 12 others as developers vie for choice piece of land By [SINGAPORE] The result of yesterday's tender for a plum condo plot at Dakota Crescent shows just why the government recently raised the "definite possibility" that
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  • MARKETS DIGEST
    • 28 1 Bloomberg SINGAPORE 5.38 MALAYSIA 5.55 HONGKONG 5.00 INDONESIA 15.916 TAIWAN 4.776 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.52 INDIA 11.75 Source:
      Bloomberg  -  28 words
    • 47 1 uesi lay lange 1COMP 1,202.07 +11.68 IIKKEI225 10,393.23 +72.29 1ANG SENG 21,069.81 +440.50 ;et index 691.73 +9.16 JAKARTA COM P 2,371.30 +30.91 IANILACOMP 2,852.48 +21.49 ;eoulcomp 1,619.69 +11.12 ;henzhen b 510.65 +6.00 IUMBAI IND 16,123.67 +107.35 12 noon EDT Change )OW 9,467.19 +25.92 IASDAQ 2,027.67 +8.89
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    • 43 1 IS$ (S$ ier US$) 1.428 (US$/S$ per 1.647 2.352 ;URO (US$/S$/E) 1.444 2.062 Foreii in curreno >er US$ S$ 'EN 92.40 64.70 3.502 2.452 IK$ 7.750 5.426 !AHT 34.03 23.82 lUPIAH 10,000 7,001 lENMINBI 6.828 4.780 INDIAN RUPEE 48.56 34.00 1.160 0.812
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  • 823 1  -  CONRAD TAN List of dos and don'ts so that Fls don't mislead their customers By [SINGAPORE] The Monetary Authority of Singapore has published the first set of new rules that it plans to implement to change the way financial institutions here treat customers in
    823 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • 48 1 TRANSPORT HUB INVESTMENT LEHMAN ANNIVERSARY k*> EXECUTIVE MONEY Chevy hopes to Lonza to set up cell Ex-CEO burdened but jp Sri Lanka the last great Cruze up sales chart therapy plant here not crushed ,^^§l W investment frontier RAGE 19 Hk^^Bj^^; PAGE 2 RAGE 16 PAGE 28 I
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  • TOP STORIES
    • 464 2  -  RONNIE LIM PetroChina could be supplying coal to Tuas Power's USs2b cogen plant here By [SINGAPORE] One has bought over Singapore Petroleum Company and the other, Tuas Power. China's biggest oil and power generation companies, PetroChina and China Huaneng, now plan to
      464 words
    • 487 2  -  YEN SREENIVASAN Airline forced to cancel 120 flights as pilots call in sick By [SINGAPORE] The Jet Airways flight from Singapore to Chennai did not take off yesterday. It was one of the 120 flights that the airline, among India's biggest, was forced
      487 words
    • THREE-MINUTE DIGEST
      • 54 2 THOUSANDS of American taxpayers in Asia are facing a Sept 23 deadline to disclose their undeclared offshore assets as the US government steps up its drive against non-compliance. The number affected including US citizens and Green Card holders, past and present could
        54 words
      • 73 2 THE Monetary Authority of Singapore has published the first set of new rules that it plans to implement to change the way financial institutions here treat customers in response to the recent scandal over mis-selling in the industry. The 19-page document released yesterday details
        73 words
      • 69 2 THE result of yesterday's tender for a plum condo plot at Dakota Crescent shows just why the government recently raised the "definite possibility" that it will restart confirmed list land sales from next year. A total of 13 bids were received, reflecting
        69 words
      • 47 2 ONE has bought over Singapore Petroleum Company and the other Tuas Power. China's biggest oil and power generation companies, PetroChina and China Huaneng, now plan to work together to boost their operations, including those in Singapore. TOP STORIES, PAGE 2
        47 words
      • 76 2 THE financial crisis has triggered a big shake-up in the private banking industry in Asia, with some wealth managers having lost more than a quarter of their clients to rivals in the past year, according to a recent survey. More significantly, wealth managers
        76 words
      • 67 2 THE status of Asia Water Technologies as a going concern is in doubt after it said it is unable to fully repay U5533.5 million demanded by CLSA. CLSA, acting as agent for Lucky Six Ltd, DBS Nominees (Private) Ltd and Indopark Holdings Ltd, made
        67 words
      • 64 2 CREATIVE Technology's US$l billion technology bet, Zii, could show up in TV set-top boxes, digital signage systems and mobile phones from other manufacturers next year. In an interview with BT, ZiiLabs president Hock Leow offered the clearest directions yet for the local tech group's
        64 words
      • 65 2 JAPANESE bank lending grew at the slowest pace in a year in the 12 months to August partly as companies saddled with excess capacity have less need to borrow funds for capital expenditure. At the same time, August's money supply rose from a
        65 words
      • 52 2 BEIJING will sell some US$B76 million of government bonds denominated in the mainland's yuan for the first time in Hong Kong this month, the Finance Ministry said yesterday, in a move to expand the international use of its tightly controlled currency. GREATER CHINA,
        52 words
    • 558 2  -  CHEN HUIFEN The facility will be able to produce 10 to 20 drugs in a year By [SINGAPORE] Swiss contract manufacturer Lonza yesterday broke ground for a 30 million Swiss franc (Ss4o million) cell therapy plant here, which is touted to be
      ARTHUR LEE  -  558 words
    • 236 2 Reuters [ZURICH] Switzerland and the UK have signed a new treaty giving British tax authorities more access to banking information and taking the Swiss one step closer to being taken off an international list of tax havens. The deal contains a provision for
      Reuters  -  236 words
    • 673 4  -  CONRAD TAN Singapore could emerge as a beneficiary of the flight to quality By [SINGAPORE] The financial crisis has triggered a big shake-up in the private banking industry in Asia, with some wealth managers having lost more than a quarter of their clients
      673 words
    • 282 4 It climbs up two notches from last year in WEF survey [SINGAPORE] Singapore is the third most competitive economy, according to the latest survey by Gene-va-based World Economic Forum (WEF) released yesterday. It climbed up two notches from last year. The boost came from
      282 words
    • 621 4  -  OH BOON PING COMMENTARY By in Frankfurt THE European Central Bank's move last week to keep key interest rates unchanged was no surprise, given the bank's cautious view of improved GDP numbers. What was more significant was the ECB saying it wouldn't necessarily raise
      621 words
  • Page 2 Advertisements
    • 190 2 DISTRESSED ASSETS: DUE TO CURRENT ECONOMIC CRISIS, FIRST STATE AUCTIONS HAVE BEEN INSTRUCTED TO CLEAR 250 LOTS OF FINE JEWELLERY WATCHES LOT 160: Ring with ,#gJ£gj| s centre Oval Peridot of 4.77cts Diamonds ;i s3l Kll, totalling o.s4cts jjfl WL* LOT 120: Pendant Jj^ with centre Oval "~^pKp^ Diamonds totalling
      190 words

  • Page 3 Advertisements
    • 257 3 —I *-<^BS ill HBSJjB 953 yßKaa j Ml jj V— i YOU WQnt 9 We've made property investment solutions a priority. We all have different priorities. If property investment is your priority, i^vn i^-n /'—n I- our team of cx Perts wi" 9u'de you through investment opportunities \{^_j )<_Jv3/[ to
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  • Page 5 Advertisements
    • 129 5 For more information please visit www.porsche.com.sg Still remember driving school? Forget it. The new 911 GT3. Every idea, every part, every line that went into the design of the new 435 hp 911 GT3 was dedicated to the purest expression of Porsche performance while keeping the mileage on a constant
      129 words

  • COMPANY NEWS
    • 396 6  -  ARTHUR SIM Going-concern status in doubt following move by CLSA By THE status of Asia Water Technologies (AWT) as a going concern is in doubt after it said it is unable to fully repay U5533.5 million demanded by CLSA. CLSA, acting as agent for
      396 words
    • 352 6  -  YEN SREENIVASAN By IN a move which boosts its position in the next-genera-tion avionics maintenance space, SIA Engineering Company (SIAEC) has clinched a new service contract to maintain the advanced eX2 in-flight entertainment (IFE) system made by Japan's Panasonic Avionics Corporation for Singapore Airlines'
      352 words
    • 372 6  -  JAMIE LEE By ANALYSTS appear divided on the merits of the $2.5 billion bid from Abu Dhabi's Advanced Technology Investment Company (ATIC) for Chartered Semiconductor Manufacturing. This comes on the back of a lethargic climb yesterday by its shares, which ended up two cents or
      AFP  -  372 words
    • 651 7  -  ONG BOON KIAT Zii platform open for adoption by makers of TV set-top boxes, mobile phones By CREATIVE Technology's US$l billion technology bet, Zii, could show up in TV set-top boxes, digital signage systems and mobile phones from other manufacturers next year. In an
      651 words
    • 561 7  -  ONG BOON KIAT EYE-catching share price movements recently shone a spotlight on Creative Technology's nine-month-old computing chip technology, Zii. While there could be other reasons fuelling the price hike which started about a month ago, many market watchers felt it was a sheer
      561 words
    • 350 9  -  FELDA CHAY Deals to supply concrete, cement for building of Marina Coastal Expressway By CONCRETE supplier and shipping group Pan-United Corporation has clinched contracts worth $74 million to supply ready-mixed concrete and specialised cement for the building of the Marina Coastal Expressway (MCE). The contract
      350 words
    • 286 9  -  EMILYN YAP By PROPERTY development and construction group Lum Chang Holdings has sold a site in Malaysia for RM77.2 million (5531.5 million) and expects a net gain of about $7.6 million. The company said yesterday that a subsidiary signed the sales and purchase
      286 words
    • 228 9 Reuters THE former chief investment officer of Korea Investment Corp, Guan Ong, has set up a Singapore-based asset management firm and is in the process of raising US$3O-50 million for a hedge fund that will invest in Asian bonds. The
      Reuters  -  228 words
  • Page 6 Advertisements
    • 196 6 'VI HONDA Being green needn't cost the earth. The Civic Hybrid is truly impressive because of its petrol-hybrid powerplant. And what makes it even more outstanding is its fuel economy of 21.74 km per litre and a 1.3 litre i-VTEC engine which gives the performance of a 1.8 litre engine.
      196 words

  • Page 7 Advertisements
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      57 words

  • SINGAPORE MARKETS
    • 634 8  -  R SIVANITHY STOCKS STl's fourth consecutive rise is boosted by a firm European opening and a rise in the Dow's Sept futures contract INVESTORS yesterday banked on Wall Street reopening with a bang after its closure on Monday for a public holiday and
      Bloomberg  -  634 words
    • 99 8 Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 2 7 0 0 0 9 2 7 Manufacturing 75 67 68 10 13 85 76 81 Commerce 30 25 21 32 26 29 )t/Stor/Comms 20 11 12 21 12 12 Finance 16 11 16
      99 words
    • 115 8 MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 56,674 56,674 52,778 52,778 Manufacturing 540,504 65,631 606,135 246,793 3,849 250,642 Commerce 220,887 31,415 252,302 167,138 15,095 182,233 Tpt/Stor/Comms 209,303 1,671 210,974 245,281 376 245,657 Finance 30,305 30,305 191,896 191,896 Construction 91,062 17,692 108,754 25,028 1,318 26,346 Properties 161,306
      115 words
    • 109 8 Stock name Close Cham CapitaLand 3.870 4-0.030 CapitaMall 1.730 CityDev 10.980 4-0.600 ComfortDelGro 1.680 4-0.020 Cosco Corp 1.280 4-0.010 DBS Grp 12.960 F&N 4.120 4-0.060 Genting SP 1.190 4-0.020 Golden Agri 0.480 4-0.015 HK Land 3.900 -0.070 JMH 28.080 4-0.480 JSH 16.120 4-0.160 JardineC&C 23.500 4-0.180
      109 words
    • Article, Illustration
      951 8  -  LYNETTE KHOO Golden Agri-Resources Sept 8 close: $0.48 PHILLIP SECURITIES RESEARCH, Sept 8 ABOUT 98 per cent of GAR's profits are derived from its plantation division. We are bullish on palm oil prices given the positive industry dynamics and believe that GAR is well-positioned to benefit from the
      Bloomberg  -  951 words
    • 534 8 Reuters I CURRENCIES [LONDON] The dollar slumped to its lowest in almost a year against a basket of major currencies yesterday as gold rallied above US$l,OOO, with traders citing talk of reserve diversification into gold undermining the US currency. Renewed concern over
      ■ Reuters; BLOOMBERG  -  534 words
    • 4 8 DAILY
      4 words
    • 63 8 CLOSE BT OB/OS 426.00 -36.00 BT CADI -*****.00 +80.00 BT 10-day MA -*****.00 +43.00 FTSE ST Mid Cap 617.29 +6.49 FTSE ST Small Cap 556.44 +4.05 FTSE ST All Share 656.04 +4.65 FTSE ST China Top 285.86 +1.93 FTSE ST China 285.30 +1.64 FTSE ST Catalist 1470.71
      63 words
    • 60 8 VOLUME Genting SP 201,548,000 Golden Agri 187,465,000 Transcu Grp 67,370,000 Ocean us 66,975,000 China Honqxinq 47,199,000 Rowsley 39,207,000 Liang Huat 36,766,000 UniFiber 36,738,000 Swiber 36,539,000 ChinaACorp 31,872,000 VALUE(S) Genting SP 239,916,620 Golden Agri 89,957,090 Capita Land 87,366,325 DBS Grp 80,814,140 Keppel Land 65,162,580 Noble Grp 61,565,450 Straits
      60 words
    • 107 8 CLOSE UP 4195 254.1 4.4 DBXTDJE50 10US$ GLD 10US$ 9844 147.0 1.1 DBXT FTVietnam 10US$ 5358 132.8 1.8 DBXT MSEuroi 10US$ 4066 95.7 1.7 JMH 2808 68.5 1.7 Cifr ES.0909 1094 68.0 6.' Cifr 1098 60.0 5.: MS India 10US$ 1329 55.7 3.0 China H 10US$ 1592 54.3 2,
      107 words
    • 112 8 DBXT S&P Short 10US$ CLOSE DOWN 6000 -68.5 -0.8 Pair irm 590 -21.4 -2.! QUE 1040 -10.0 -1.0 HKLand 390 -10.0 -1.8 Elec Eltek 145 -7.1 -3.3 SembMar.ES.0909 310 -7.0 -2.2 CerebosPac 319 -6.0 -1.8 DBS.ES.0909 1298 -6.0 -0.5 Sin; iTel 323 -6.0 -1.8 Cortina 32 -5.0 -13.5 BY
      112 words
    • 86 8 Sep 8 CLOSE CHNG FR Sep 7 YR2009 S$ LOW S$ HIGH USS 1.4281 0.35 1.5579 1.4281® Euro 2.0603 -0.25 2.0732 1.9150 Pounds 2.3575 -0.21 2.4366 2.0356 AS 1.2315 -0.51 1.2315# 0.9453 Yen* 1.5472 -0.55 1.7278 1.4831 Rupiah* 0.***** -0.35 0.***** 0.***** Baht* 4.1954 0.29 4.3390
      86 words

  • Page 9 Advertisements
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      1,362 words

  • SINGAPORE NEWS
    • 643 10  -  LEE U-WEN New book captures the 'rise, fall, split and resurgence' of the political party By WITHIN the confines of the historical Old Parliament Chamber, as 150 politicians from Singapore's past and present looked on, a new book detailing the "untold story"
      MUGILAN RAJASEGERAN/THE STRAITS TIMES  -  643 words
    • 106 10 SENIOR Minister Goh Chok Tong arrived in Beijing yesterday for an official visit to China which will last till Saturday, Sept 12. He will be meeting Premier Wen Jiabao and Vice-Premier Li Keqiang. SM Goh will also visit Dalian, to attend the meeting
      106 words
    • 243 10 ONLINE accommodation company Hotel Club, a subsidiary of Orbitz Worldwide, hopes to grow its business by focusing on Asia. Headquartered in Australia, Hotel Club has offices in 15 countries including Singapore, Japan, Taiwan and Thailand. It operates Hotel Club.com, RatesToGo. com and Asiahotels.com. "Asia
      243 words
    • 328 10  -  EMILYN YAP By JTC Corporation CEO Ow Foong Pheng has been appointed second permanent secretary at the Ministry of Trade and Industry (MTI) from Oct 1. Mrs Ow, 45, has headed JTC since August 2006. During her term, JTC sharpened its focus to provide strategic
      328 words
    • 392 10  -  JOYCE HOOI By IN a bid to tame the concrete jungle, a collaborative study amongst four government bodies with the National University of Singapore (NUS) officially got underway yesterday. The Urban Redevelopment Authority (URA), Housing Development Board (HDB), Land Transport Authority (LTA), and
      392 words
    • 315 10  -  NISHA RAMCHANDANI High rents remain a bugbear for the industry By THE retail industry racked up sales of $35 billion in 2008. But despite signs pointing to a stronger secondhalf this year, 2009 sales are unlikely to beat those last year. Speaking on the
      315 words
  • Page 10 Advertisements
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      541 words
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      76 words

  • ECONOMY WATCH
    • 564 11 AFP It places 93rd out of 133 due to'large macro-economic imbalances' [GENEVA] The United States fared badly in a new assessment of world economies, with the financial crisis accentuating its weakness as one of the most economically unstable nations, the World Economic Forum
      AFP  -  564 words
    • 344 11 Reuters [SEOUL] The South Korean finance ministry's research arm called for a gradual unwinding of emergency economic and financial policy measures, making it the first influential government organisation to make such a caU. The remarks from the Korea Development Institute (KDI) underline growing expectations
      – Reuters  -  344 words
    • 724 11 Reuters Saddled with excess capacity, firms scale back spending plans [TOKYO] Japanese bank lending grew at the slowest pace in a year in the 12 months to August partly as companies saddled with excess capacity have less need to borrow funds for
      Reuters  -  724 words
  • Page 11 Advertisements

  • MALAYSIA/INDONESIA
    • 620 12  -  S JAYASANKARAN Potential venture into risky wireless business could dent earnings: analysts By in Kuala Lumpur SHARES in YTL Power have slipped more than 2 per cent during the past five days on worries the cash-rich company could be used to fund the YTL
      620 words
    • 376 12  -  PAULINE NG By in Kuala Lumpur THE tussle between the proverbial David and Goliath has come to an end the world's largest restaurant chain, McDonald's, will just have to coexist with Malaysia's McCurry following a decision by the country's highest court to allow
      AP  -  376 words
    • 489 12 Reuters [JAKARTA] South Korea's Posco, the world's No. 6 steelmaker, met Indonesia's Industry Minister to discuss plans for a US$5 billion steel investment in South-east Asia's biggest economy, a senior official said yesterday. Ansari Bukhari, director general of metal and machinery at the industry
      – Reuters  -  489 words
  • Page 12 Advertisements
    • 260 12 bLAYA Always play with care. Towards Community W hsP°"°H"l>r Do not bet illegally. Purpose and Benefit J BCB Reg No. *****0202G I POOLS jfk n CELEBRATING MID-AUTUMN WITH MERITUS z^ 4^ This mid-autumn festival, Marina Mandarin and Meritus Mandarin present tantalizing mooncake creations from the t-k. traditional to the novel.
      260 words

  • INDIA
    • 390 13 Bloomberg [NEW DELHI] Satyam Computer Services founder Ramalinga Raju, charged for his role in India's biggest corporate fraud, is in stable condition after being hospitalised for a suspected heart attack yesterday, a doctor said. Raju, 54, was admitted to the Nizam's Institute of Medical Sciences
      – Bloomberg; FILE PHOTO  -  390 words
    • 273 13 Reuters [NEW DELHI] Car sales in India raced an annual 26 per cent in August, rising for a seventh month, and demand is seen picking up in October when annual bonuses are paid in much of the country. The government is also set to
      – Reuters  -  273 words
    • 446 13 Bloomberg Droughts in Kenya, Sri Lanka and India have damaged crops [MUMBAI] A global tea shortage may increase by 10 per cent next year as droughts in Kenya, Sri Lanka and India, the top exporters, damage crops and propel prices to a
      – Bloomberg  -  446 words
    • 501 13 Reuters The govt has sold 2.82t rupees of bonds so far in the current fiscal year [NEW DELHI] Indian federal and central bank officials will meet in 10-12 days to finalise the government's borrowing plan for the second half of the fiscal year ending
      – Reuters  -  501 words
  • Page 13 Advertisements
    • 485 13 01SIM IU I PROFESSIONAL DEVELOPMENT #5J GLOBALISATION GREATER OPPORTUNITY OR GREATER COMPETITION? R*s^f x -W -S:v v* i, Mastering this double-edged sword is no longer a choice but \&%\"t -W a necessity to ensure competitiveness and viability, and to Wfivrv 'Uy^l*^clLi&;' avoid irrelevance in the new global marketplace. LEVERAGE LOCAL
      485 words

  • GREATER CHINA
    • 381 14 AP Six billion yuan bond sale, slated for Sept 28, will raise yuan's global usage [BEIJING] Beijing will sell some US$B76 million of government bonds denominated in the mainland's yuan for the first time in Hong Kong this month, the Finance Ministry said
      AP  -  381 words
    • 396 14 Bloomberg 6- and 10-year bonds to be denominated in US$ [HONG KONG] Hutchison Whampoa Ltd, billionaire Li Ka-shing's biggest company, began marketing a sale of six- and 10-year bonds denominated in US dollars, according to a person familiar with the transaction. The six-year
      – Bloomberg  -  396 words
    • 623 14 Xinhua, Reuters [BEIJING] China has issued its first warrant for mass inoculation with domestic A/HINI flu vaccine, the first country in the world to do so, Health Minister Chen Zhu said yesterday. Mr Chen said the warrant was issued by the
      Xinhua, Reuters; BLOOMBERG  -  623 words
    • 434 14 Reuters [SHANGHAI] China's passenger car sales in August rose 90.18 per cent from a year earlier, the China Association of Automobile Manufacturers said yesterday, paving the way for record sales for the full year. Industry analysts attributed the continued strength in
      – Reuters  -  434 words
    • 476 14 Reuters [SHANGHAI] The city of Pingdingshan in central China's Henan Province has ordered all 157 coal mine shafts within its district to close, after a mine explosion killed 35 people and left 44 trapped earlier in the day, the official
      Reuters; AP  -  476 words
  • Page 14 Advertisements

  • ASIA-PACIFIC/WORLD
    • 535 15 Bloomberg He may take advantage of 'rock-bottom prices' says Citigroup [MELBOURNE] Australian billionaire James Packer may seek new US casino acquisitions after raising almost As9oo million (Ssl.l billion) selling private assets, according to an analyst at Citigroup Inc. Consolidated Press Holdings, the Packer family
      – Bloomberg; BLOOMBERG  -  535 words
    • 528 15 Reuters Case for rate hike grows as survey adds to upbeat data [SYDNEY] A key measure of Australian business confidence jumped to its highest in almost six years last month as firms reported improving sales and profits, adding to the case for
      – Reuters; AFP  -  528 words
    • 375 15 Bloomberg Record 633b-krone loss in 2008 erased 12 years of gains [OSLO] Norges Bank Investment Management, which oversees Europe's largest sovereign wealth fund, named a new team of executives after record losses last year wiped out gains from 12 years of investing Norway's oil
      Bloomberg  -  375 words
    • 218 15 -AP [SAN FRANCISCO] AOL LLC has tapped former Yahoo Inc executive Brad Garlinghouse for a key position that is meant to beef up the struggling Internet company's presence in Silicon Valley. Mr Garlinghouse, 38, might be best known for calling attention to
      -AP  -  218 words
    • 376 15 Bloomberg [MUMBAI] Former United States Federal Reserve chairman Alan Greenspan says banks should be required to hold more capital on their balance sheets, reinforcing a weekend push by finance chiefs from the Group of 20 (G-20) nations. "Capital requirements even during
      Bloomberg  -  376 words
    • 709 15 Reuters Possible results: Protracted debate, burst of activity, or watered-down solution [WASHINGTON] The Obama administration's ambitious plan to overhaul US financial regulation was bogged down in Congress as it returned from a long recess yesterday. With no clear path forward in
      Reuters  -  709 words

  • WORLD
    • 1873 16 Richard Fuld one year after Lehman's collapse Reuters Former CEO burdened but not crushed by pressure of upcoming anniversary [NEW YORK] "You don't have a gun; that's good." That was how Richard Fuld greeted a Reuters reporter who had tracked him down to his country house in a bucolic setting
      – Reuters; REUTERS  -  1,873 words
    • 328 16 Reuters [MILAN] World economic recovery might come a quarter ahead of current expectations, the head of the International Monetary Fund told an Italian newspaper, adding that forecasts for this country's economy will be revised upwards. "For the (global) economy, we have been saying
      – Reuters  -  328 words
    • 466 16 Reuters Timing will depend on how quickly the economy recovers [LONDON] Banks face pressure to raise billions of dollars in fresh equity to meet tough new capital rules and many European lenders may need to act soon to improve quality even though
      Reuters  -  466 words
    • 592 16 Reuters [GENEVA] United Nations economists said on Monday that there would be no early recovery from global recession and warned that any move to ease back quickly on government stimulus programmes could make the crisis worse. In its annual report, the
      Reuters  -  592 words

  • Transport HUB
    • 1039 17  -  DAVID HUGHES STRAIT TALK By AT FIRST sight, it seems to be a case of "here we go again". The International Transport Workers' Federation (ITF) or rather its affiliated trade unions in Japan, Korea and Taiwan called an East Asian Maritime Week of Action
      1,039 words
    • 236 17 MARINE industry news and information provider Petromedia has launched a new index representing international bunker fuel market movements. The Bunkerworld Index (BWI) is a weighted index based on benchmark in 20 key ports, providing a single number, set daily at 6pm GMT, that describes the global
      236 words
    • 676 17  -  VINCENT WEE Revenue from these areas set to grow as decision making shifts to them By BEING separated as an independent business unit within the AP-Moller Maersk Group was a big driver behind the move to rebrand the group's logistics activities under the Damco brand.
      676 words
    • 262 17  -  VINCENT WEE By A SEA change in emission control regimes is inevitable and shipowners had better start thinking about how to deal with it before regulations are forced on them, says DNV Maritime's chief operating officer Tor Svensen. "We have taken some positions
      262 words
    • TRANSPORT HUB: AVIATION
      • 677 18 -AFP Some observers hail unveiling as proof the country has arrived in industry [HONG KONG] China's largest home-produced commercial jet made its international debut at Asia's biggest air show yesterday, in a demonstration of the country's ambition to be a global aviation giant. An arm
        -AFP; AFP  -  677 words
      • 201 18 Bernama Move aims to draw more airlines, make airports competitive [KUALA LUMPUR] Malaysia Airports Holdings Bhd (MAHB) will unveil special incentives on airport charges before year-end, said its managing director/chief executive officer, Bashir Ahmad. "The incentives will make our airports competitive as well
        Bernama; BLOOMBERG  -  201 words
      • 315 18 Reuters [HONG KONG] European plane maker Airbus expects a recovery in total passenger traffic volume by 2010, fuelled by global economic growth, a company executive said yesterday. In 2010, worldwide passenger traffic could rise by 4.6 per cent, even though it is
        Reuters  -  315 words
      • 552 18 -AFP [PARIS] Failed Slovakian low-cost carrier Sky Europe could be just the first casualty among the smaller airlines finding it difficult to survive one of the worst slumps on record, analysts said. "End of summer, early autumn, is a likely time for airlines
        -AFP  -  552 words
      • 2692 18 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), Al: Air India (AIC), AY Finnair Oy (FIN), AZ Alitalia Airlines (AZA), BA British Airways Public Ltd Co(BAW), BG: Biman Bangladesh Airlines (BBC), Bl: Royal Brunei Airlir.w VILJ V l™u m >_, w^w, BR. EVA Airways
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    • TRANSPORT HUB: LAND/AVIATION
      • 557 19  -  SAMUEL EE Popular sedan may account for as much as 40% of Spores Chevy sales By FIRST, there was the Kia Cerato Forte. Now, the Chevrolet Cruze looks like it will be the next hot sedan from South Korea. The popular Cruze could
        YEN MENG JIIN  -  557 words
      • 623 19  -  SAMUEL EE State-of-the-art $10m centre ensures speedier clearance By THE vehicle inspection market is expected to continue growing for the next few years and this bodes well for STA Inspection Pte Ltd, which opened its third inspection centre in Jalan Boon Lay
        623 words
      • 850 19 Bloomberg [SINGAPORE] Karl Ong hoped to find a quiet spot on his Singapore Airlines Ltd (SIA) flight home, betting that the recession and a drop in air travel would leave the double-decker Airbus SAS A3BO half empty. He was wrong. "I
        – Bloomberg; BLOOMBERG  -  850 words
      • 440 19 Bloomberg [LONDON] British Airways pic (BA), Europe's third-largest airline, will use planes freed up by the slump in business travel to start flying to long-haul leisure destinations such as Las Vegas, Jamaica and the Maldives. Five of the six new routes that the
        Bloomberg  -  440 words
  • Page 17 Advertisements
    • 116 17 Cyberfreight has a reputation of reliability and value. It is a robust package that is cost effective to run. It also integrates operations and accounts with smart documentation and Improve customer management tools. productivity and Cyberfreight has a user friendly interface that requires reduce your minimal training and is efficient
      116 words
    • 29 17 IhVl P 1 ICb« I a UIB aft 1 Ilk fir Tft rH El <teU! T JJJJ^^ Register online at: /Vl r A THE UNITED KINGDOM Singapore HYDROGRAPHIC OFFICE
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  • Page 18 Miscellaneous
    • 375 18 CRYPTIC CROSSWORD Across —^h-—^h 7 Fuel Norm needs to get a couple of females home (8) |9 9 Bottle supplied by garage apprentice? (6) 10 That man joining salvation- mw" —r^H T^^ ists must follow a religious Bill doctrine (6) 11 Club unhappy about admit- H I^H H H WM
      375 words


  • EDITORIAL & OPINION
    • 519 20 IN ordinary circumstances, the word of Mohamed ELBaradei, the forthright director-general of the International Atomic Energy Agency (IAEA), would be good enough to put paid to the hype over Iran's nuclear programme. He has said there was no evidence that Teheran has an ongoing
      519 words
    • 848 20  -  HUGH MACARTHUR SUVIR VARMA By fostering relationships with leading firms, they will be ready when opportunities arise By and EVEN before the recession started to bite early last year, private equity firms were feeling the full effects of contracting credit and declining
      STOCK.XCHNG  -  848 words
    • 789 20 THE BOTTOM LINE AFTER ham-fisted handling of the disastrous Typhoon Morakot last month, the Ma Ying-jeou administration in Taiwan showed its deft side when it successfully finessed a challenge by the opposition to its cross-straits policy by allowing a visit by
      789 words
    • 1258 21  -  NGIAM TONG DOW Instead of using soft stimulus packages to recover, Singapore has to methodically restructure its economy By THE current economic crisis engulfing the world, however intractable it may appear now, is susceptible to human solutions. It can be said to have originated from the
      FILE PHOTO  -  1,258 words
    • 829 21  -  808 HERBERT -NYT By MAYBE the economic stress has been too much. Looking back at the past few months, it's fair to wonder if the country isn't going through a nervous breakdown. The political debate has been poisoned by birthers, deathers
      -NYT; REUTERS  -  829 words


  • SINGAPORE STOCKS
    • 9080 22 Transaction date: Sep 8 52-wks Tel |h Low Code Last Sale Vol ('PPP) Hii Day Last Quote Div Gr Yld Net |h Low Buyer Seller C'vr P/E MCap $mil Hii Com| >an] 16.5 3 3148 8Telecom 8 2.5 5834 A-Sonic 31 12 5000 ABR Hldgs 14.5 5.5 1938
      9,080 words
    • 1657 23 High Low Code Company Sale ('000) High Low Buyer Seller C'vr P/E $mil 16 5 1181 s AAGrp 26 12 8538 t APStrategic 4 0.5 1501 s Advanced System 7.5 2 3480 t Adventus 20 8.5 3518 s Afor 12.5 2 1524 t Alantac 11 3.5 7814 t
      1,657 words
    • 421 23 52-Wk Tel h Low Code Last Sale Vol C000) Day ih Low Last Quote Buyer Seller Div GrYld Net MCap C'vr P/E $mil hjil Comi hjil 110 100 6389 AFJFSG Bond ETF 110 +1 754 427 CIMFJAsean40 100US$ US750 +12 274 149 DBS STI ETF 100 269 +2
      421 words
    • 242 23 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer
      242 words
    • 9252 23 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced FundlS 1.99/ AIGIF Spore Bond Fund/ A 1.331/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.07/ APS Alpha Fund (USD)!** 0.75/ APS Komaba Asset Mgt Pte Ltd APS Komaba Global Bond SGD 0.5109/ APS Komaba
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  • Page 22 Advertisements


  • FINANCE & COMMODITIES
    • 369 24 In local curr In S$ In US$ %dy %yr dy yr dy yr Index Change Change Change Change Change Change Se| World Index Preliminary 775.7 0.6 14.4 0.4 17.2 0.9 17.' t EAFE Preliminai 746.5 1.3 15.0 1.3 20.3 1.8 21.1 Euro[ Prelim inan 1049.1
      369 words
    • 132 24 As at 9am Sep 8 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2130 1.2490 Can dollar 1.3200 1.3360 Euro 2.0420 2.0650 NZ dollar 0.9830 1.0040 Sterlini ind 2.3260 2.3541 US dollar 1.4240 1.4410 Local dollars to 100 units of foreign
      132 words
    • 171 24 Sep 8 fer Overnight 1/8 1-month 7/16 2-months 9/16 3-months 11/16 Overnight mode: 0.18 US$ Offer par 3/16 5/16 7/16 BJd 7 days 1 month 2 months 3 months 6 months 9 months >—■. I. $Au 0.35 0.38 0.40 0.45 0.75 1.25 1.30 Offer 0.25 0.28 0.29 0.30
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    • 24 24 Sep 8 STI Se 2661 SIMSCI Se 319.3 321.9 320.8 Taiwan Se 265.8 270.6 268.9 Source: MF Global (S) He. Ltd
      24 words
    • 21 24 Sep 8 Bid Offer 1-month 1.4278 1.4293 2-months 1.4280 1.4295 3-months 1.4282 1.4297 6-months 1.4286 1.4302 Source: OCBC
      21 words
    • 59 24 Sep 8 Delivery Month Opening Sett Av Range Price Price Hi Low Vol Open Done Position SepO9 2205 2255 2250 2201 193 558 Oct09 2166 2241 2241 2166 1517 7813 Nov09 2141 2210 2210 2135 8801 ***** Dec 09 2124 2197 2198 2124 2095 ***** Total o/p: *****
      59 words
    • 302 24 Sep 8 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES SepO9 DecO9 Mar10 Jun10 99.6950 99.5700 99.3450 98.9950 5293 4413 3404 2861 EUROYEN TIBOR FUTURES SepO9 99.460 99.470 DecO9 99.495 99.505 Mar10 99.530 99.530 Jun10 Sep10 Dec10 Mar11 Jun11 99.460 99.410 99.530 99.470 99.500 99.530 99.525 99.485
      302 words
    • 183 24 Sep 8 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Month High Low Close Sett Volume (lots) 0/1 lots) Oct09 223.0 NOV09 Dec 09 Jan 10 221.3 Feb 10 222.0 Mar10 222.0 223.0 221.3 222.0 221.5 223.0 222.0 223.0 221.3 221.5 221.5 20 20 40 100 402 559
      183 words
    • 87 24 Sep 8 Period Issue code Maturity Yesterday's Bid Day's |h Low Hi, 3-Month BQ*****T 10.12.2009 1-Year BY*****W 03.05.2010 0.33 0.39 0.28 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year NX*****H 3.625 5-Year NX*****F 3.625 7-Year N*****0S 2.875 10-Year NX*****W 2.500 15-Year
      87 words
    • 101 24 Sep 4 SOYBEANS (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Sep 09 961.00 982.00 983.75 958.00 Nov09 922.00 941.50 944.00 920.50 Jan 10 927.00 945.50 946.00 925.50 Mar10 927.75 946.25 945.00 926.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Sep 09 33.65 34.08 34.18 33.64 Oct09
      101 words
    • 77 24 CRUDE OIL PRODUCTS Sep 7 CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 67.77 1.60 WTI (Near Mth) 67.82 0.05 Dubai (1-Mth F) 67.05 -0.23 Tapis blend 68.95 -0.25 Minas 68.95 -0.25 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 66.95 73.70 0.45 0.25 US$/barrel Opec Oil
      77 words
    • 463 24 Sep 8 AS Rmb Euro HKS IndRsRu Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound us: Australia 0.924 5.887 0.597 6.682 41.868 86.220 0.796 10.623 3.019 1.238 71.476 41.692 1.231 6.484 0.907 28.232 29.336 0.524 0.862 Canada 1.082 6.372 0.646 7.233 45.318
      463 words
    • 79 24 Sep 8 (US$) (SS) 0.***** 0.***** 1 mth 2 mths 0.***** 0.***** 6 mths 0.***** 9 mths 1.***** 12 mths 1.***** 3 mths 0.***** 0.***** 6 mths 9 mths 12 mths 0.***** 1.***** 1.***** 0.***** 0.***** 0.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs 1.***** 4yrs
      79 words
    • 157 24 Sep 8 Against SS Currencies Bid Offer Against US$ Bid Offer S$fUS$ to one unit of foreign currency: Australian dollar 1.2306 1.2324 0.8620 0.8624 Canadian dollar 1.3322 1.3336 0.9332 0.9333 Euro 2.0606 2.0630 1.4434 1.4437 NZ dollar 0.9940 0.9953 0.6963 0.6965 Sterlini ind 2.3508 2.3534 1.6467 1.6469
      157 words
    • 140 24 Sep 8 GOLD (USS/oz) Se, 07 Set 08 Hong Kong London 991.10 1001.00 992.10 1002.00 Sep 04 Sea 07 987.35 994.40 988.15 995.40 Source: Thomson Reuters CAST BAR (S$) SepOS Buying Sellini Kilobar "49,292.76" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 5gm 10gm 20gm 50gm 100gm 1
      140 words
    • 69 24 Sep 7 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1832.75 1816.25 3 months 1866.00 1850.00 Copper, Grade A (US$/tonne) Cash 3 months 6314.25 6324.00 6263.75 6275.00 Lead (US$/tonne) Cash 3 months 2337.50 2350.00 2296.00 2305.00 Nickel (US$/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 73 24 Sep 7 COCOA (Btonne) Close Prev Hii ih/Low SepO9 1831 1860 1862/1828 Dec 09 1860 1887 1890/1856 Mar 10 1860 1887 1889/1855 May 10 1860 1887 1889/1860 COFFEE (US$/tonne) Close Pev High/Low SepO9 1474 1418 1475/1455 Nov09 1494 1448 1497/1455 Jan 10 1518 1471 1522/1476 SUGAR (US tonne) White
      73 words
    • 2240 24 BONDS, WARRANTS EXTENDED SETTLEMENT Tel Code Company Last Sale Prem Expiry Vol Conv Exer Disc Gear- Mths +or- ('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3.5 2036AdvanceSCTLtdW*****9 0.5 Ascendas REIT.ES.0909 172 8756#AsiaticGrp(H) LtdW*****2 7.5 0.5 73 4105#Asiatravel W*****7 29 unch 69 1 15 12 4.71 1 87 1150 14.00
      2,240 words

  • Page 25 Advertisements
    • 2815 25 mm The Business Times umu Shipping Times A KPP fcl WAN HAI INTERNATIONAL PTE LTD UEN: *****4695M RV K. Jilf.W^iOiLr^w'uLl VTn\l»l»M UAI IIMFC TEb*****588 (14LINES) FAX:*****163 1 'a l^~ 1 11 M fiTw^lH HwH^iHtWlWWswIHrB H»*nlMW<ll^9ffiHWPM I WAN HAI INt J PHI TEL: (03) *****S8» FAX: (03| *****28s PEN TEL: <04)
      2,815 words

  • Page 26 Advertisements
    • 3371 26 r^VHQIBEII^SSIHI In E EASTERN CAR LINER, LTD IpHii SJ Jr^w I I^Slb ||—-____L-1 I specialize in roro heavy lift UPTO 450 TONS~| WEEKLY EXPRESS SAILING SCHEDULE I I __nTB^TVTTrYTT >TT7^_________ 1 1 1 1 I 1 1 1 1 IfltHuluMul r^^^^^nrTa^fHLSEßVlCE^ ISSm^ T -MH^L. M<*W) .L« -jf^- ."jj. g K^_SUgA_
      3,371 words

  • Page 27 Advertisements
    • 4974 27 JL^I V^>/ JL JLVj JLj l 3 Toll free: 1800-289-8822 Email: notices@sph.com.sg www.cats.com.sg IN THE MATTER OF i THE COMPANIES ACT, CAP. 50 MAN BENG GROUP LTD -megaron pie.ltd. Liwi Dcwu utiuur li v ffSSZI TPP INTERN ATIONAI I lIUIITFn [In Members' Voluntary Liquidation] Registration No. *****2527Z SSS..S lEE IN
      4,974 words

  • executive Money
    • 926 28  -  MICHAEL PREISS Stockmarket opportunities abound in Sri Lanka this year's fourth-best performing equity market, with a 75 per cent return AMID the ruins of Sri Lanka's civil war lie gems of stockmarket opportunity. Legendary billionaire investor George Soros put it best when he said: "The
      REUTERS  -  926 words
    • 458 28 NYT [SAINT-OUEN, France] From a warehouse in a scruffy suburb outside Paris, Jacques Attali has been building what he calls the "McKinsey" of the microfinance world, a one-stop consulting shop for the sector. A consummate French insider, Mr Attali, a former banker and presidential adviser,
      NYT  -  458 words
    • 956 29 -NYT Despite losing an estimated USs2sb in 2008, few people on or off Wall St have capitalised on this crisis as deftly as Warren Buffett [NEW YORK] Warren E Buffett has two cardinal rules of investing. Rule No 1: Never lose money. Rule No 2:
      -NYT; BLOOMBERG  -  956 words
  • Page 28 Advertisements
    • 158 28 Investment Opportunity in International School The New Zealand International School (NZIS) is planning to open its Asian Regional Campus in Singapore soon. NZIS already has an established and successful campus in Jakarta to cater to the Indonesian market. This experience has made us confident that an international school of this
      158 words
    • 4 28 lE—BIB mOTB IOQ3y. www.AccountServe.com.sg
      4 words
  • Page 28 Miscellaneous

  • Page 29 Advertisements
    • 18 29 Lianhe Zaobao I Shanghai beats Spore, HK Tokyo to become world's 3rd-largest financial shipping huh I ±JSSJHBBi!B=* &IH«iJi>t>iC>
      18 words
    • 259 29 The market may have its potential pitfalls, but manage your investment risk well, and you can make the most of any market condition. Join us at our Risk Management seminar, where our speakers will be sharing their insights from real-life case studies to investment strategies and mindset techniques. Understanding and
      259 words

  • Page 30 Advertisements
    • 180 30 A few of our most impressive insurance policies: Policy #1: People before profits. We're different because we were made different. Formed as a co-operative, there's only one set of people we need to serve. You. Policy #2: Transparency. We are the only insurer that publishes our yields on life policies
      180 words


  • Page 32 Advertisements
    • 111 32 flfl'C income made different but different. J Made different. Grown different. NTUC Income started as a co-operative where people, quite simply, came before profits. With a commitment to make insurance affordable and accessible to all Singaporeans, we grew. Stronger and more resilient, weathering crises along the way. Today we insure
      111 words