The Business Times, 24 December 2009

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Total Pages: 25
1 25 The Business Times
  • 20 1 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 Thursday, December 24,2009
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  • 924 1  -  R SIVANITHY COMMENTARY By But opinion divided on man who tackled crisis but didn't anticipate it [SINGAPORE] Time magazine named him its Person of the Year. But The Wall Street Journal (WSJ) said last week it would be a mistake to re-appoint him
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  • 796 1  -  CONRAD TAN Regulator also aims to raise compensation limits to boost protection for policyholders By < [SINGAPORE] The Monetary Authority of Singapore (MAS) is seeking sweeping new powers to seize insurers in distress and to supervise their liquidation to protect policyholders. It also
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  • MARKETS DIGEST
    • 82 1 IS$ (S$ per US$) 1.412 (USS/SS per 1.596 2.253 ;URO (US$/S$/E) 1.426 2.013 Foreign currency per US$ S$ 'EN 91.70 64.90 3.437 2.434 IK$ 7.755 5.491 !AHT 33.32 23.59 lUPIAH 9,505 6,730 lENMINBI 6.829 4.836 INDIAN RUPEE 46.81 33.15 1.141 0.808 IZ$ 1.430 1.012 1COMP 1,260.53 +0.11 IIKKEI225 1ANG
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    • 29 1 Bloomberg SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 15.073 TAIWAN 4.696 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.53 INDIA 11.75 Source:
      Bloomberg  -  29 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • 148 1 t jtt pr°perty h°ck l°ck s|ew rvw^wi childaid b|zit KSyßhl Major HK land sale may net Reit takeover guidelines P^ Hitting all the Phone makers re-draw |||||§j| uptoHKsl3bfortwosites require closer look [lL^^^M right notes their battle lines PAGE 26 PAGE 4 Hll fff£ PAGES 14 &15 PAGE 24 BT catches
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    • 28 1 THE RAFFLES CONVERSATION Indomitable British designer Terence Conran says his biggest present to society may have been to bring beauty to as many as possible. In BT tomorrow.
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 50 2 THE Monetary Authority of Singapore is seeking sweeping new powers to seize insurers in distress and to supervise their liquidation to protect policyholders. It also wants to raise the limits on the compensation offered by the Policy Owners' Protection Fund schemes. FRONT PAGE
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      • 72 2 JOB vacancies in the financial services sector soared to 1,100 by the end of September the highest so far this year and only 100 places shy of the September 2008 figure. Hiring sentiment in the sector continued to improve in the third
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      • 47 2 FOOD prices have risen consistently over the past few months. And given erratic climatic conditions, they could become even more of a concern going forward. The Consumer Price Index rose 0.4 per cent in November from October. TOP STORIES, PAGE 2
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      • 45 2 THE year 2008 may have been marred by widespread cutbacks following the global financial malaise, but new government statistics show local companies, in fact, stepped up their research investments when the chips were down. TOP STORIES, PAGE 3
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      • 57 2 STAFF working at property consultancies here have been receiving good tidings from their employers. Thanks to the improvement in business, at least three of the big players Knight Frank, Jones Lang LaSalle and DTZ are restoring salaries to levels before they were
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      • 32 2 SHARES of Z-Obee Holdings dived some 20 per cent yesterday after its dual listing application in Hong Kong hit a snag. COMPANY NEWS, PAGE 4
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      • 34 2 THE Singapore Exchange has warned brokers and remisiers to exercise special care when handling large trading orders that could distort the market. COMPANY NEWS, PAGE 5
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      • 45 2 CHANGI Airport handled 3.36 million passengers in November. This was a year-on-year increase of 9.2 per cent and the fourth straight month of growth in passenger traffic. Growth was strongest on South-east Asian routes. SINGAPORE NEWS, PAGE 8
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      • 39 2 SWISS proposals for a withholding tax on foreigners' bank accounts that would allow client identities to remain secret don't meet international standards, UK tax authorities said. ECONOMY WATCH, PAGE 9
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      • 54 2 Surprise 11 drop in Nov new home purchases PURCHASES of new homes in the US unexpectedly fell last month, indicating a recovery from the housing slump will be slow to develop. However, personal incomes rose in November at the fastest pace in six months while spending posted a second straight
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      • 49 2 IN 2009, smart-phone sales bucked the global economic decline. And in the next 12 months, phone makers will increasingly shift the focus of their rivalry from the hardware front to the applications that can be added to these feature-packed handsets. BizlT, PAGE 24
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    • 715 2  -  ANTHONY ROWLEY By in Tokyo MOVES are under way behind the scenes in Japan to wrest control over the yen's exchange rate from the Ministry of Finance and restore it to the Bank of Japan (BOJ) which had the power to intervene
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    • 515 2  -  TEH SHI NING Steady recovery in last year's worst hit sector, with 1,100 job vacancies in Sept By [SINGAPORE] Job vacancies in the financial services sector soared to 1,100 by the end of September the highest so far this year and only
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    • 607 2  -  ARTHUR SIM By [SINGAPORE] Food prices have risen consistently over the past few months. And given erratic climatic conditions, they could become even more of a concern going forward. The Consumer Price Index (CPI) rose 0.4 per cent in November from October. The increase
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    • 663 2  -  SAMUEL EE Briton's move helps F1 ace reconnect with German roots By [SINGAPORE] It is perhaps ironic that a laid-back Englishman eager for a bit more dosh will give a hard-driving German a spectacular chance to win a record eighth Formula One championship
      AP  -  663 words
    • 409 3  -  By WINSTON CHAI Manufacturing, particularly in electronics, shows biggest growth [SINGAPORE] 2008 may have been marred by widespread cutbacks following the global financial malaise, but new government statistics show that local companies, in fact, stepped up their research investments when the chips were
      A*STAR, 2009  -  409 words
    • 742 3 Reuters It may rather opt to sell some prized assets to pay debt [DUBAI] Dubai must raise funds to feed its billions of dollars of debt but it dreads imposing taxes to avoid breaking a business model that turned it from
      Reuters; REUTERS  -  742 words
    • 404 3 Reuters China's number of known dollar billionaires has now reached 130 [BEIJING] Lonely this Christmas? Spare a thought for Beijing's billionaires. The country's economic boom over the last three decades may have generated a clutch of super-wealthy Chinese, but it has not guaranteed
      Reuters  -  404 words
    • 692 3  -  KALPANA RASHIWALA By [SINGAPORE] Staff working at property consultancies here have been receiving good tidings from their employers. Thanks to the improvement in business, at least three of the big players Knight Frank, Jones Lang LaSalle (JLL) and DTZ are restoring salaries
      692 words

  • Page 3 Advertisements
    • 86 3 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. II www.avl group.com.sg lf|Mß ■'ii: j^ i ==*i* ''rf I■> i I Bring the cinema home In the same way film makers go to great lengths to create spectacular,
      86 words

  • COMPANY NEWS
    • 488 4  -  JAMIE LEE By SHARES of Z-Obee Holdings dived some 20 per cent yesterday after its dual-list-ing application hit a snag. Z-Obee, a China-based firm which makes mobile phone handsets, said on Tuesday that the final review of its dual primary listing application on
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    • 1052 4  -  KALPANA RASHIWALA HAT exactly does it mean when a Reit is taken over? In the case of other corporate entities, it's fairly clear that when a general offer is made after the 30 per cent trigger point is reached, control of the company and
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    • 373 4  -  JAMIE LEE Proposal to issue ISS shares to creditors and shareholders By TROUBLED Oriental Century has proposed a scheme of arrangement to transfer its Catalist listing status to international school operator ISS Holdings by having ISS issue new shares to creditors and shareholders.
      373 words
    • 377 5  -  CONRAD TAN Special care needed when brokers handle orders that could distort market By THE Singapore Exchange (SGX) has warned brokers and remisiers to exercise special care when handling large trading orders that could distort the market. While they are free to
      BLOOMBERG  -  377 words
    • COMPANY BRIEFS
      • 119 5 JARDINE Cycle Carriage Limited has subscribed for new shares representing a 5.8 per cent stake in the enlarged share capital of Truong Hai Auto Corporation (Thaco). The shares were bought at the placement price of 93,000 Vietnamese dong per share, or a total of
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      • 52 5 SINO Techfibre has clinched a 45.1 million yuan (559.3 million) contract to supply polyurethane (PU) synthetic leather for belts and shoes to Shandong Mingjun Textile Garment Co, Ltd. Sino Techfibre is contractually obliged to deliver the belt and shoe materials to Shandong Mingjun before Dec
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      • 109 5 AUSTRALAND Property Trust said that it is selling Coles Regional Distribution Centre at Goulburn, New South Wales to Growthpoint Properties Australia for As 64 million (5579.3 million), the property's current book value. Australand will reinvest the sale proceeds into the metropolitan industrial markets of Brisbane, Sydney
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    • 830 5 Bloomberg [TOKYO] Asian startup hedge funds have returned an average 22 per cent this year, beating global peers and boosting their chances of attracting investors in 2010. Galaxy China Deep Value Fund and Wisdom of Japan Fund are among new offerings measured by Sin-gapore-based
      Bloomberg; FILE PHOTO  -  830 words
    • 525 5 Bloomberg ALBERT Ec, a former managing director of Millennium Management LLC's Asian business, said that he plans to set up a hedge fund in Singapore that will seek to profit from bets on broad economic trends. AE Capital Management plans to start
      Bloomberg  -  525 words
    • 2019 7 CORPORATE FOCUS CEO Tan Lay Koon says the merger with ChipPAC has transformed STATS ChipPAC into a competitive outfit, writes SUKI LOR DIFFICULT as the global financial meltdown might have been, it was not the most severe testing time in the career of
      FILE PHOTO  -  2,019 words
    • 424 7 AS a boss, STATS ChipPAC's president and chief executive Tan Lay Koon is results-oriented and sets clear key performance indicators (KPIs) for staff. "I believe more in quantifying things. I believe that it's important. You cannot expect what you don't inspect," he said. As STATS
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  • Page 4 Advertisements
    • 16 4 Lianhe Zaobao I They're I car racing buddies partners in bakkua business W^ *****1111M lttj«^| I
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    • 42 4 Raffles Conversations 2008 EDITION 52 interviews by Business Times journalists The diverse experiences tfflflfll^^^^^^B. ofsomeofthemost influentialthinkers, corporate chiefs /W and social the age gf^^ Raffles Conversations XV.'^'^xV* A collection from The Business Times > >%-'° Availableatallleadingbookstores ft >^ THE BUSINESS TIMES A publication of Sf^l
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  • Page 5 Advertisements
    • 24 5 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. 3 (SATS NOTICES
      24 words
    • 1394 5 im tue matteq nc I 1 IN THE MATTER OF IN THE MATTER OF HECOMPnIb^.UP.SO THECOMPAMeTaCT.WP.SO THECOMPANIESACTtCAPSO, THE COMPANIESACT, CAP. 50 (I)JICSERVICESPTE LTD. (1) LYNDHURST FORD CO PTE. LTD. IN THE MATTER OF IN THE MATTER OF (Company No *****6338R) (Registration No: *****6076Z) ALTUS ADVANCED AIG INTERNATIONAL (SINGAPORE] (2) APPLE
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  • SINGAPORE MARKETS
    • 575 6  -  R SIVANITHY STOCKS The index's main support this time came from commodities firm Noble Group THERE was very little to distinguish yesterday's session from Tuesday's the Straits Times Index (STI) rose, the broad market was mixed, volume was low and dealers who decided not
      ■: Bloomberg  -  575 words
    • 103 6 Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 4 6 0 0 0 5 4 6 Manufacturing 37 70 68 14 42 75 82 Commerce 16 25 24 19 31 28 )t/Stor/Comms 14 11 11 16 11 12 Finance 13 13 instruction 11
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    • 105 6 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 16,722 16,722 33,274 33,274 lanufacturing 235,151 8,659 243,810 132,377 551 132,928 lommerce 150,660 10,423 161,083 161,692 2,078 163,770 'pt/Stor/Comms 65,945 887 66,832 87,033 175 87,208 :i nance 19,904 19,904 140,159 140,159 lonstruction 21,340 2,458 23,798 5,590 47 5,637 'roperties
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    • 101 6 lapitaLand 4.160 +0.010 lapitaMall 1.780 +0.010 jtyDev 11.440 -0.160 lomfortDelGrc 1.610 -0.010 losco Corp 1.090 IBS Grp 14.980 +0.160 :&N 4.150 +0.050 ienting SP 1.180 +0.010 iolden Agri 0.495 IK Land 4.770 +0.090 IMH 30.440 -0.020 ISH 17.860 +0.160 lardineC&C 26.260 +0.080 Ceppel Corp 8.220 -0.010
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    • 908 6  -  CONRAD TAN Keppel Corporation Dec 23 close: $8.22 DMG PARTNERS SECURITIES, Dec 23 KEPPEL'S wholly owned subsidiary Keppel FELS Brasil has won another contract from Noble to upgrade and repair a third Brazil-based drill-ship for USsls2 million, soon after securing two drillship upgrading contracts from Noble in late
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    • 536 6 Reuters CURRENCIES [SINGAPORE] The Malaysian ringgit and Thai baht fell to multi-week lows yesterday as the US dollar held broadly firm, while the Chinese yuan inched up in offshore forwards trading to extend gains from the previous day. The US dollar rose to a twomonth
      Reuters; FILE PHOTO  -  536 words
    • 5 6 STR AITS TIMES INDEX DAILY
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    • 62 6 Dec 23 VALUE CLOSE IT OB/OS -109.00 -39.0C IT CADI -*****.00 -26.0' IT 10-day MA -*****.00 -11.0' TSE ST Mid Cap 677.91 +5.3 TSE ST Small Cap 525.61 +1.7 TSE ST All Share 699.12 +4.4! TSE ST China Top 272.12 -0.6! TSE ST China 293.43 +2.5 TSE
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    • 58 6 VOLUME Ocean us 64,854,000 SinoGrandnes 37,971,000 Teledata 37,122,000 Gentinq SP 32,631,000 Z-Obee Hldqs 30,528,000 Noble Grp 30,046,000 MAP Tech 27,452,000 BanJooWlll222 20,062,000 ChinaNTown 19,849,000 Pan Hong 16,602,000 VALUE(S) Noble Grp 94,512,770 DBS Grp 61,223,800 Gentinq SP 38,268,410 UOB 37,185,240 Capita Land 37,131,570 CapMallsAsia 34,621,320 Yanlord 32,018,750 Sing
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    • 102 6 CLOSE UP iBXT MSKorea 10US$ 4513 69.2 1.1 iBXT FTVietnam 10US$ 4237 50.8 0. India Ni 10 1550 49.0 3. China H 10US$ 1602 33.9 1. ISMSCI India 100 675 29.6 3., ISH 1786 22.6 0: iBS.ES.0912 1494 22.0 1. iBS Gri 1498 16.0 1.1 lobleGri i.ES.0912 316 16.0
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    • 113 6 CLOSE DOWN DBXT S&P Short 10US$ 5388-145.4 -1.9 LD 10US$ *****-141.2 -0.9 ICC 5.1% NCPS 100 ***** -20.0 -0.2 At 1144 -16.0 -1.4 FXA50ETFMBLeCW*****7 10 -14.5 -59.2 Pair irm 591 -12.7 -1.5 :\t '.ES.0912 1146 -12.0 -1.0 'anlord 213 -8.0 -3.6 Ezra MBLeCW/*****4 51 -5.0 -8.9 HsuFuChi 206 -5.0
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    • 86 6 Dec 23 %CHNG CLOSE FR Dec 22 YR2009 S$ LOW S$ HIGH USS 1.4117 -0.37 1.5579 1.3800 Euro 2.0108 -0.02 2.0952 1.9150 Pounds 2.2506 0.39 2.4366 2.0356 1.2352 0.16 1.2942 0.9453 ren* 1.5379 0.16 1.7278 1.4831 Rupiah* 0.***** -0.27 0.***** 0.***** Baht* 4.2381 -0.25 4.3390 4.1040
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  • Page 7 Advertisements
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  • SINGAPORE NEWS
    • 415 8  -  NISHA RAMCHANDANI Freight movements also rose 4.6% to 153,000 tonnes in November By IN the strongest showing this year, Changi Airport handled 3.36 million passengers in November. This was a year-on-year increase of 9.2 per cent and the fourth straight month of growth
      YEN MENG JIIN  -  415 words
    • 384 8  -  UMA SHANKARI It's a simplified version of SFRS for the charity sector By THE Accounting Standards Council (ASC) and the office of the Commissioner of Charities (COC) are seeking views from the charity sector, accounting professionals and the public on a new draft
      384 words
    • 209 8 UPMARKET leisure operator Azamara Club Cruises has returned to Asia for a second straight season. Its ship Azamara Quest arrived at the Singapore Cruise Centre early on Tuesday following a 24-night voyage from Athens. Azamara Quest will be home-ported in Singapore and Hong Kong
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    • 304 8  -  SAMUEL EE Cat B COEs slid to $17,889, lower than Cat A's $18,150 By COE premiums fell across the board yesterday in the final bidding exercise of the year, as motor distributors cited a dearth of buyers during the festive season. "Ask any travel
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    • 715 8 Bloomberg Growing without buyouts gives more control over hirings BANK Sarasin Cie will forgo acquisitions as it expands in Asia, its fastestgrowing market, even as hiring gets more challenging as private banks compete for talent. Sarasin, the Swiss private bank
      Bloomberg  -  715 words
  • Page 8 Advertisements
    • 121 8 Gold, caisc, °*C"*"'""""'^_ CO py f rom any fSpinelli outlet at $5.50 and get a complimentary Spin or Latte! PULSES DECEMBER ISSUE, OUT NOW! In the December issue of Pulses, find out why being a conservative local bank isn't necessarily a bad thing in a crisis. Also, check out our
      121 words

  • ECONOMY WATCH
    • 628 9 Bloomberg Swiss govt proposes withholding tax on foreigners' bank accounts [GENEVA] Swiss proposals for a withholding tax on foreigners' bank accounts that would allow client identities to remain secret don't meet international standards, UK tax authorities said. The Swiss government
      Bloomberg  -  628 words
    • 574 9 Bloomberg [WELLINGTON] New Zealand's economy grew less than economists estimated in the third quarter, driving the nation's currency to a three-month low on speculation that the central bank may not need to raise interest rates until mid-2010. Gross domestic product (GDP) rose
      Bloomberg; AFP  -  574 words
    • 328 9 Bloomberg Lawmakers want to shore up budget revenue [SEOUL] South Korea plans to delay cutting corporate and individual income tax rates by two years as lawmakers seek to shore up budget revenue in Asia's fourth largest economy. A parliamentary subcommittee
      – Bloomberg  -  328 words
    • 397 9 Reuters [HANOI] Stepping up vigilance against rising inflation pressures, the Vietnamese central bank says it will aim to limit credit growth next year to around 25 per cent, down from 38 per cent in the current year. The State Bank of Vietnam
      Reuters  -  397 words
    • 573 9 Reuters, Bloomberg This comes a day after EU extends import tariffs on shoes from China, Vietnam [BEIJING] China yesterday slapped anti-dumping duties on imports of carbon steel fasteners from the European Union, just a day after the EU extended import duties on shoes
      Reuters, Bloomberg  -  573 words

  • MALAYSIA
    • 1056 10  -  PAULINE NG THE YEAR IN REVIEW Malaysia strives to climb the income ladder, faces low investor confidence By in Kuala Lumpur BY all accounts, next year marks a crossroads for Malaysia. Having grown stagnant and uncompetitive against other emerging markets, the low value-add-ed, low-wage
      AFP  -  1,056 words
    • 575 10 MET Investing overseas offers more earnings excitement for bank [KUALA LUMPUR] Hong Leong Bank Bhd may have an upper hand in the takeover of smaller rival EON Capital Bhd (EONCap) as it does not urgently need a local merger, while regional buys are
      MET  -  575 words
    • 440 10 Bernama [KUALA LUMPUR] Gamuda Bhd expects its performance in the remaining quarters of the current financial year to improve with projects progressing on schedule and with the recovery of the property market. The group said that work progress of the electrified double track
      Bernama  -  440 words
  • Page 10 Advertisements
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  • GREATER CHINA/INDIA
    • 568 11 Reuters Its purchase of Saab's IP can cut short development time by 4-5 years [BEIJING] Beijing Automotive Industry Holding Corp (BAIC), China's fifth-largest carmaker, will launch an aggressive campaign to develop its brand both at home and overseas, after buying car designs from
      Reuters  -  568 words
    • 405 11 -AP [STOCKHOLM] Ford Motor Co said yesterday that it is close to selling its loss-mak-ing Volvo unit to China's Geely and expects a final deal in the first quarter of 2010. Ford said in a statement that "all substantive commercial terms relating
      -AP; AFP  -  405 words
    • 805 11 AP [MUMBAI] India has emerged the leader in small cars, overtaking Japan, as declining sales in Western markets coupled with robust growth in Asia redraws the global map of the auto industry faster than many expected. It's well known that China will
      AP  -  805 words
    • 587 11 Reuters, AP, Xinhua [BEIJING] China yesterday vowed to exercise stricter control over bank lending next year, guiding credit to new energy projects and consumers, while choking off financing to polluters and sectors riddled by overcapacity. The central bank also reaffirmed its long-standing commitment
      Reuters, AP, Xinhua  -  587 words
    • 406 11 Bloomberg [SHANGHAI] China's growth may surge to as much as 12 per cent next year, increasing the risk from inflation, unless the government raises interest rates, Citic Securities Co chief economist Zhu Jianfang said. The economy may be boosted by a rebound
      Bloomberg  -  406 words
    • 262 11 Bloomberg [NEW YORK] Harrah's Entertainment Inc chairman and chief executive Gary Loveman wants to bring the Caesars Palace brand to Macau as the world's biggest casino company seeks new markets for growth. Harrah's, owner of a golf course in Macau, has held exploratory talks
      Bloomberg  -  262 words
  • Page 11 Advertisements
    • 551 11 IN THE MATTER OF THE COMPANIES ACT [CAP.SO] AND IN THE MATTER OF ENPORIS GREENZ LIMITED [IN MEMBERS' VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****0179 D NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD AT FTSE ROOM, 9TH FLOOR
      551 words

  • ASIA-PACIFIC/WORLD
    • 576 12 Move indicates that prices are high enough [NEW YORK] The Organisation of Petroleum Exporting Countries (Opec) agreed on Tuesday to maintain its production targets, an expression of satisfaction that prices are high enough to ensure sufficient revenues but not suppress a nascent recovery. Opec acted
      AP  -  576 words
    • 570 12 Bloomberg, AP LATEST US DATA However, personal incomes and spending post solid gains in Nov [WASHINGTON] Purchases of new homes in the US unexpectedly fell last month, indicating a recovery from the worst housing slump since the Great Depression will be slow
      – Bloomberg, AP  -  570 words
    • 436 12 Reuters [HARARE] Swiss food company Nestle has suspended operations in Zimbabwe, complaining of harassment after it pulled out of a deal to buy milk from a farm taken over by President Robert Mugabe's family. Nestle said yesterday that it received an unannounced visit from
      – Reuters  -  436 words
    • 568 12 Reuters, Bloomberg Move brings it closer to IPO, values it at USs3sb [ZURICH] Commodities trader Glencore issued US$2.2 billion of convertible bonds, bringing the secretive employee-owned Swiss firm closer to a public listing and valuing it at about US$35 billion. The bond sale capped
      – Reuters, Bloomberg  -  568 words
    • 463 12 Reuters British universities told to cope with lower budgets [LONDON] Britain's universities are being given an uncomfortable reminder of the depth of the recession as the government slashes their budgets and urges them to focus on degrees that
      Reuters; AFP  -  463 words
  • Page 12 Advertisements
    • 179 12 In tha matter of The Companies Act (Cap. 50) and In the matter of Centre for Oral Surgery Implants Re Ltd (In Liquidation) Reg. N0.*****5472C Notice of Resolutions Shareholders' Written Resolutions passed pursuant to Section 184 A of the Companies Act, Cap 50 on 29 November 2009. Special Resolution a)
      179 words

  • WORLD
    • 516 13 Reuters Move is in response to greater scrutiny in Washington [NEW YORK] About 25 high-frequency trading firms have discussed forming a lobbying group within the Futures Industry Association (FIA) as they move to deal with growing scrutiny in Washington. The firms have
      Reuters  -  516 words
    • 635 13 LAT-WP Banks, regulators risk over-reacting to financial crisis, says US president [WASHINGTON] President Obama sought to demonstrate his concern about a shortage of small-business loans on Tuesday, meeting a carefully selected group of community bankers to discuss ways of making more money available.
      LAT-WP; REUTERS  -  635 words
    • 573 13 Reuters [NEW YORK] The US government's record debt issuance may give rise to investor anxiety down the road, but with Greece and other nations' credit ratings in play, US Treasuries are holding on to their appeal. Credit problems are mounting in Greece and a
      Reuters  -  573 words
    • 527 13 Reuters Industry shows strength as audiences turn to cheap entertainment [LOS ANGELES] Audiences have given Hollywood a big present in advance of Christmas US and Canadian movie ticket sales for the year are expected to cross the US$lO billion mark
      – Reuters; AFP  -  527 words
  • Page 13 Advertisements

  • CHILDAID 2009
    • 675 14  -  NISHA RAMCHANDANI By BACK for the fifth time, the annual charity concert Child Aid was a smashing success this year as the audience was treated to a musical extravaganza which boasted 274 performers, including a 70-strong orchestra. And while many of the stars were young,
      YEN MENG JIIN  -  675 words

  • EDITORIAL & OPINION
    • 526 15 THE year 2009 has been unprecedented on many fronts: the near-collapse of the world's financial system, the coordinated massive quantitative easing and stimulus packages by major governments of the world, and the consequent substantial build-up of sovereign debt burdens. The
      526 words
    • 1163 15  - China can't play economic Santa Cl aus to Japan, Asia ANTHONY ROWLEY They shouldn't look to China as the booming market in place of the US THERE was rejoicing in Japan this week at news of the first rise in exports to China and the rest of Asia in over
      AFP  -  1,163 words
    • 860 15  -  MARK GILBERT THE BOTTOM LINE By THERE'S a theory making the rounds comparing Greece with Lehman Brothers Holdings Inc. Letting Lehman go broke, the story goes, was the worst policy error of the credit crisis; with that lesson learned, the global authorities will do
      860 words
    • 1782 16  -  RICHARD BALDWIN Vows to successfully conclude the deal are encouraging, but past events show how difficult it will be to achieve this goal By FOR those who believe that trade liberalisation promotes economic prosperity and peace, the continued stalemate in the Doha round
      REUTERS  -  1,782 words
    • 804 16  -  G PANICKER MANY are angry at the seemingly rotten message from the state of Denmark. To me, the Copenhagen climate talks is still a qualified success. Indeed, can we really expect a result from such a jamboree of nations that will please everyone? The meeting
      REUTERS  -  804 words


  • AVIATION/SHIPPING
    • 545 17 AFP US Department of Justice calls for restrictions on the deal [WASHINGTON] The US Department of Justice's (DOJ) said on Tuesday that a tie-up of British Airways and American Airlines for transatlantic flights would lead to "competitive harm" and called for restrictions on the
      AFP  -  545 words
    • 281 17 Reuters [ATLANTA] Boeing Co said on Tuesday that it acquired a Finmeccanica unit's interest in a US facility that assembles the fuselage for its 787 Dreamliner, a deal that makes the plane maker the sole owner of the entity and gives it more control
      Reuters  -  281 words
    • 2889 17 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 Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR
      2,889 words
    • 452 17 Reuters 12 supertankers with fuel oil, crude anchored off M'sia [SINGAPORE] At least 12 supertankers holding fuel oil and crude are anchored in south Malaysian waters, up from eight previously, as a shortage of landed tanks spurs a shift to floating storage, traders said.
      Reuters  -  452 words
    • 201 17 Reuters [MIAMI] An American Airlines Boeing 737 overshot the runway while landing in driving rain at the international airport in Kingston, Jamaica on Tuesday night, but the company said there were no fatalities or serious injuries. The Jamaica Observer newspaper reported 40 injured passengers but
      Reuters  -  201 words
    • TRANSPORT STOCKS
      • 111 17 '000 lee CH Offshore 0.65 Chuan Hup Hldgs 0.35 Cosco Corp 1.09 CWTLtd 0.73 Ezra Hldgs 2.16 First Ship Lease 0.60 Freight Links 0.05 Grand Banks unch laya Hold Ltd 0.56 KiVentures 0.16 KeppelCorp 8.22 Mercator Lines 0.29 MTQCorp 0.71 NOL 1.58 Pacific Shipping 0.27 Pan-United Corp 0.52 Rickmers
        111 words
      • 26 17 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings 0.89 8.60 8.60 3.15 3.08 -0.01 unch 0.06 0.02 -0.02 9i 36i 9: 5(
        26 words
      • 7 17 ■oo 'recious Ship .18.30 unch 180<
        7 words
      • 6 17 '000 toil .35.35 -0.45 40!
        6 words
      • 20 17 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 8.90 22.75 unch unch unch *****' -0.25 18! unch unch
        20 words
      • 22 17 Evergreen Marine ....16.85 :irst Steamship 45.80 Wan Hai Lines 16.00 fang Ming Marine...11.70 unch -0.05 0.05 -0.05 4 1 1 3
        22 words
      • 40 17 '000 (awasaki Hvy Ind ..234.00 (awasaki Kisen 262.00 Mitsubishi Hvy 321.00 Vlitsui Eng&Sbldg...219.00 Vlitsui Osk Lines 483.00 Mippon Express 381.00 MipponYusen 286.00 iource: Thomson Reuters 5.00 75K 2.00 662} 4.00 1132: 4.00 453: 1.00 991: 8.00 318! -2.00 3129:
        40 words
  • Page 17 Miscellaneous
    • 368 17 CRYPTIC CROSSWORD Across 1 Can't be seen from the moun- 1 p [3 [4 H ~~[7 tains (3,2,5) H^MM HH 6 Separate item on dining table I I I I T f~~\ f~~\ f~~\ (.4) o o 8 Twice as much as a cheap op- 'm^ m^ \^mt m^ m^
      368 words

  • SINGAPORE STOCKS
    • 8745 18 Transaction date: Dec 23 Hii !-wks Tel Low Code Coi Sale COOP) Hi; Low Bi Seller Cvr P/E Smil 18 3 3148 8Telecom 9.5 2.5 5834 A-Sonic 34 16 5000 ABRHIdgs 15.5 5.5 1938 AEI Corp 8 1 1100 AEM 23 10 2101 APOil 93 36 5550 ARA
      8,745 words
    • 1670 19 ligh Low Code Company Sale COOO) High Low Buyer Seller C'vr P/E $mil 10 5 1181 s AAGrp 25 12 8538 t APStrategic 4 0.5 1501 s Advanced System 7.5 3.5 3480 t Adventus 20 8.5 3518 t Afor 12.5 2 1524 t Alantac 11 4 7814 t
      1,670 words
    • 414 19 52-Wk Tel h Low Code Last Sale s» Day lh Low Last Quote Buyer Seller Div GrYld C'vr Npg Ma Hii Comi Hii 111 107 6389 ABFSG Bond ETF 109 819 427 CIMBAsean40 1OOUSS US808 290 149 DBSSTIETF100 286 +3 4627 3534 DBXT DJE5O 10US$ US4335 3282 1682
      414 words
    • 249 19 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
      249 words
    • 9345 19 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!S 2.133/ AIGIF S'pore Bond Fund/A 1.378/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.16/ APS Alpha Fund (USD)!** 0.83/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXAWM -Talents
      9,345 words
  • Page 18 Advertisements


  • FINANCE & COMMODITIES
    • 374 20 In local curr In S$ In US$ %dy %yr dy yr dy yr Index Change Change Change Change Change Change Dec 22 World Index Preliminary 828.3 0.6 22.2 0.3 22.9 0.2 25.9 t EAFE Preliminai 776.8 1.0 19.7 0.4 22.6 0.2 25.I Euro[ Prelim inan
      374 words
    • 131 20 As at 9am Dec 23 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2230 1.2600 .an dollar 1.3250 1.3410 Euro 1.9960 2.0180 NZ dollar 0.9770 0.9980 jterlini ind 2.2360 2.2621 US dollar 1.4000 1.4160 Local dollars to 100 units of foreign
      131 words
    • 175 20 Dec 23 $S Offer Overnight 1-month 2-months 3-months Overnight mode: 1/8 US$ 3/16 7/16 9/16 11/16 Offer 1/16 3/16 5/16 7/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months $Au 0.25 0.29 0.35 0.37 0.55 0.90 1.00 Offer 0.20 0.24 0.25
      175 words
    • 24 20 Dec 23 STI Dec 2842 IIMSCI Dec 340.6 342.0 341.5 "aiwan Dec 284.3 286.3 286.0 Source: MF Global (S) He. Ltd
      24 words
    • 22 20 Dec 23 S$ Bid Offer 1-month 1.4118 1.4132 2-months 1.4122 1.4136 3-months 1.4125 1.4138 6-months 1.4131 1.4145 Source: OCBC
      22 words
    • 65 20 Dec 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Month Range Price Price Hi Vol Open Done Position Low Jan 10 2462 Feb 10 2490 Mar10 2506 Apr 10 2512 Total o/p: ***** contracts 2435 2465 2420 736 3483 2476 2501 2462 2793 ***** 2500 2521 2482
      65 words
    • 334 20 Dec 23 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar10 Jun10 Sep10 Dec10 99.6450 99.4050 99.0550 98.6650 0 0 0 0 ***** 6392 3326 2879 EUROYEN TIBOR FUTURES Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 99.6250 99.6600 99.6800 99.6700 99.5850 99.5600 99.5600 99.3650 20 0
      334 words
    • 181 20 Dec 23 tUBBER Futures (Closing prices) !SS 3 (US cents/kg) flonth High Low Close Sett Volume (lots) 0/1 lots) Ian 10 279.5 =eb 10 280.5 Vlar 10 <\pr10 Vlay 10 lun 10 279.5 280.5 280.5 281.0 282.0 283.0 284.5 286.0 18 30 40 40 660 789 614 490
      181 words
    • 91 20 Dec 23 TREASURY BILLS Period Issue code Maturity Yesterday's Bid Hi. Day's [h Low 3-Month BQ*****N 25.03.2010 1-Year BY*****N 01.11.2010 0.54 0.55 0.48 0.48 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year NX*****H 3.625 5-Year N*****0N 1.375 7-Year N*****0S 2.875 10-Year NX*****W
      91 words
    • 98 20 Dec 22 (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Jan 10 991.00 1001.00 1010.00 984.50 Mar10 998.50 1008.50 1018.00 992.25 May 10 1004.25 1014.50 1024.50 997.75 Jul 10 1008.25 1018.75 1029.50 1002.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Ian 10 38.05 38.28 38.55 37.66 Mar10
      98 words
    • 77 20 CRUDE OIL PRODUCTS Dec 22 CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 72.50 -1.29 WTI (Near Mth) 73.37 1.42 Dubai (1-Mth F) 72.25 -0.99 Tapis blend 77.25 -1.05 Minas 74.85 -1.05 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 78.45 81.20 0.35 -0.50 US$/barrel Opec Oil
      77 words
    • 464 20 Dec 23 AS _CS Rmb Euro HKS IndRsRu Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound USS Australia 0.926 5.983 0.615 6.794 41.017 83.278 0.803 10.371 3.011 1.253 73.903 40.750 1.237 6.766 0.919 28.343 29.198 0.549 0.876 Canada 1.080 6.465 0.664 7.341
      464 words
    • 69 20 Dec 23 mth 0.***** 0.***** mths 0.***** 0.***** mths 0.***** 0.***** mths 0.***** 0.***** mths 0.***** 0.***** 2 mths 0.***** 0.***** ;WAP Offer rates (S$) mth 0.***** mths 0.***** mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 1.***** SWAP Mid rates (S$) 1 yr 0.***** 2yrs 1.*****
      69 words
    • 158 20 Dec 23 Against SS Currencies Bid Offer Against US$ Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2365 1.2380 0.8760 0.8763 Canadian dollar 1.3359 1.3378 0.9464 0.9469 Euro 2.0121 2.0142 1.4255 1.4257 NZ dollar 0.9869 0.9884 0.6992 0.6996 Sterling md 2.2520 2.2544 1.5955 1.5957
      158 words
    • 133 20 Dec 23 /oz) tec tec -long Kong 1085.50 1095.60 .ondon Dec 22 Dec 21 1077.80 1101.70 1078.60 1102.50 Source: Thomson Reuters CAST BAR (S$) Dec 23 Buying Sellim Kilobar "52,893.31" ***** PAMP GOLD BARS (S$) Selling Buying gm jgm Ogm !0gm iOgm OOgm oz ozUBS Kinphar™ 118.77 335.98
      133 words
    • 65 20 Dec 22 minimum, 99.7 jritv (US$/tonne) Co Close Previous :ash 2204.00 2231.75 months 2242.00 2269.00 Copper, Grade A (US$/tonne) :ash months 6841.00 6881.00 6893.25 6935.00 .ead (US$/tonne) :ash 2271.75 months 2310.00 2276.0I 2310.01 lickel (US$/tonne) :ash months *****.00 *****.01 *****.00 *****.01 'in (US$/tonne) :ash months *****.00 *****.01 *****.00
      65 words
    • 75 20 Dec 22 :OCOA (Btonne) Close Prev Hii ih/Low Mar 10 2239 2213 2241/2214 May 10 2254 2232 2254/2232 Jul 10 2227 2211 2230/2214 Sep10 2198 2183 2201/2187 COFFEE (US$/tonne) Close Pev High/Low Jan 10 1289 1305 1305/1270 Mar 10 1328 1344 1344/1309 May 10 1363 1380 1377/1345 SUGAR (US
      75 words
    • 2215 20 BONDS, WARRANTS EXTENDED SETTLEMENT Pel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Disc Gear- Mths ing Left Asia-Pacific Strategic W*****6 2.5 >036AdvanceSCTLtdW*****9 0.5 S756#AsiaticGrp(H) LtdW*****2 9 H05#Asiatravel W*****7 35 1 15 17 6.00 1 87 1844 9.00 1 3 1.33 1 28 -2 1.83 53 8
      2,215 words

  • Page 21 Advertisements
    • 3271 21 The Business Times ___r~S Bl^f^ffHßWtffff^ffffßßnW felf WAN HAI INTERNATIONAL PTE LTD UEN *****4.95 M w^— J^V K\M Jri-wlwrW^TO'rliyfiMßi \Ti_i\ iaia m uai imrr TEL:*****588 <14L|NES> fax:*****163 ___b—■ 1 __/"l I I il«^PTl^l HlKnWfi wMrvStmlm I Y\\Pl I WAN n/ll ll«t__) PKLIEL: (03| *****888 FAX: (03| *****288 PEN lEL: (04) *****00
      3,271 words

  • Page 22 Advertisements
    • 4435 22 rO I BBISIHIBISISI Hf^T eastern car liner, ltd j MgfcJliTTift tilfrfflil v_^ kj^^Mß El 2—, KnTTEMtlnjiailliß UL-________i I SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS |1M mmUMJUUiiii^ lll!iiilMHJ:MJ^^^^^B I inp(KT) I Lilting(KT) I SIN I PKL I PEN I JKT I SUR I BTU I B I > I'lff
      4,435 words

  • BizIT
    • 665 23 YEAR IN REVIEW With more consumers toting smart-phones, almost all handset players have introduced their own mobile store fronts to complement their hardware onslaught, says WINSTON CHAI IN 2009, smart-phone sales bucked the global economic decline. And in the next 12 months, phone makers
      665 words
    • 525 23  -  JERMAINE NG BT asks senior tech leaders what they want for Christmas By THE iPhone is still the apple of many a boss's eye when it comes to Christmas gifts. The hot gadget has shown its staying power by again emerging as the
      525 words
    • 306 23 ■AP [BEIJING] China has issued new regulations that expand its Internet controls by tightening procedures for domain name registration. The Ministry of Industry and Information Technology posted the new rules over the weekend, part of a three-phase plan to target what
      ■AP  -  306 words
    • 618 23 Reuters Tencent, Net Ease and Kingsoft seen as prime candidates [SHANGHAI] Chinese Internet firms are eyeing more spin-off offerings after raising nearly US$l.5 billion this year as they bank on strong foreign interest in high growth China plays. Chinese spin-offs
      – Reuters  -  618 words
    • 407 23 Reuters [SEATTLE] Microsoft Corp said on Tuesday it will tweak its Word application to remove a feature judged to be a breach of patent, ensuring that it will be able to continue selling one of its most widely used programs. The world's largest
      – Reuters  -  407 words

  • PROPERTY
    • 1124 24 NYT More owners stripping fixtures from a property before foreclosure [LAS VEGAS] "Stripping House Before Foreclosure," the ad declared, offering potential buyers the cabinets and countertops, the sinks and toilets, the doors, the appliances, the sprinklers. Even the palm and citrus trees in the yard
      NYT; AFP  -  1,124 words
    • 628 25 Bloomberg The New Territories waterfront land will be auctioned on Monday [HONG KONG] Cheung Kong (Holdings) Ltd, Sino Land Co and other Hong Kong builders seeking to replenish land reserves may pay up to HK$l3 billion (552.4
      Bloomberg  -  628 words
    • 265 25 Bloomberg [NEW YORK] Manhattan rents fell as much as 7 per cent in the year ended Dec 15 as the recession helped some tenants move up to larger apartments for less. Rents for studio apartments dropped 7 per cent to an average of
      Bloomberg; AFP  -  265 words
    • 256 25 Reuters [SEOUL] Apartment prices in the capital Seoul rose 23.7 per cent in the first nine months of the year, South Korean government data released for the first time yesterday showed, 10 times as fast as a private bank reported earlier. The
      Reuters  -  256 words
    • 837 25 Reuters Group to buy properties and convert them into rental apartments [NEW YORK] For most Americans, the US housing market collapsed about four years ago. For three real estate heavyweights, it's just getting started. Boutique investment bank Westwood Capital, veteran apartment building owner
      – Reuters  -  837 words
  • Page 24 Advertisements
    • 1663 24 PROJECT NAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECT NAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECT NAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREET NAME TYPE DATE AREA*(SQ FT) (S$'OOO) (Ss) STREET NAME TYPE DATE AREA*(SQ FT) (S$'OOO) (Ss) STREET NAME TYPE DATE AREA*(SQ FT) (S$'OOO) (Ss) District 1
      1,663 words

  • Page 25 Advertisements
    • 146 25 One Amber (District 15) 20 residential units for sale TOP 2010 Freehold Full condominium facilities Walk to East Coast beach and Parkway Parade Minutes to Marina Bay, IR City Priced to sell Ibdrm 1076sqft 3+study 1389sqft 2bdrm 958sqft 4bdrm 1593t0 3 bdrm -1259 to 1378 sqft 1701 sqft Exclusive Agent
      146 words
    • 38 25 Land *****sqft Built up 110OOsqft 'Fluid Living Space with Full Greenery Elevated Land with Complete Privacy Modern Urban Resort Home Rugged Architecture of Raw Concrete, 25M Infinity Lap Pool with Features Base Metals and Natural Timber Professional Theatre
      38 words
    • 43 25 a^y^^^ --a^^:^^^^ Newsman Sole Marketing Agenl 19,000sqft Spacious Road Designed by award-winning firm K2LD •11 .OOOsqft Living Space Modern accents reflected throughout Sumptuous Interiors with Luxury Large Professional Equipped Kitchen Bathrooms Sweeping Greenery View from Rooms Private Pool and Pavilion Asking $26.8 M
      43 words