The Business Times, 4 October 2010

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Total Pages: 30
1 30 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) 138/08/2010 Monday, October 4,2010
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  • 920 1  -  Promise and challenges confront a major trade route By JOYCE HOOI [SINGAPORE] The IntraAsian market traditionally a strange and fragmented creature in the world shipping business has become even stranger. While it might be the next big growth area and volumes are set to soar,
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  • 666 1  -  Passing of an amazing woman kindles memories KWA GEOK CHOO, 1920-2010 By EMILYN YAP, SIOW LI SEN [SINGAPORE] From bankers, lawyers and developers to union chiefs, tributes to Kwa Geok Choo, wife of Minister Mentor Lee Kuan Yew, flowed unabated yesterday. Many praised her quiet support
    FILE PHOTO  -  666 words
  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST Index 3,130.90 +38.22 KL COMP 1,466.32 +15.13 NIKKEI 225 9,404.23 -67.44 HANG SENG 22,358.17 +238.74 SET INDEX 978.58 +26.68 JAKARTA COMP 3,547.11 +149.48
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  • Page 1 Advertisements
    • 178 1 BizIT Mahindra Satyam crosses important milestone PAGE 28 VIEWS FROM THE TOP Corporate governance: Walking the talk PAGES 10-11 DINING OUT Ku De Ta, Paradise Dynasty PAGE 22 YOUNG INVESTORS’ FORUM Pursuing value in negotiations PAGE Tributes, Page 2 A name that sets one heart a-flutter, Page 3 Infinitely more.
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  • TOP STORIES
    • 586 2 Businesses saddened but inspired FROM lawyers, bankers, developers to union heads, leaders from various industries continued to pay tribute yesterday to the late Kwa Geok Choo, wife of Minister Mentor Lee Kuan Yew. Many praised her quiet support for Mr Lee as he built the nation; some felt
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    • Article, Illustration
      795 2 KWA GEOK CHOO, 1920-2010 Davinder Singh Senior Counsel CEO of Drew Napier LLC ON a number of occasions, her view on a complex legal point would be conveyed to me. What always struck me was the sheer power of her intellect and her ability to discard the chaff and
      FILE PHOTO  -  795 words
    • 1060 3  -  KWA GEOK CHOO, 1920-2010 By ANNA TEO DURING a constituency visit years ago, then-Prime Minister Lee Kuan Yew dropped in on a kindergarten class. He spoke to one of the kids, asking the boy question after question, until Mrs Lee, who was
      FILE PHOTOS  -  1,060 words
  • Page 2 Advertisements
    • 127 2 ACCOUNTANCY HUB Prouides you High Quality, Fast 6 Reliable Recounting and Bookkeeping Seruices. (Established by a team of qualified accounting professionals with more than 20 years experience, renowned for their integrity and reliability). Benefits of choosing Accountancy Hub, Speed Get your management accounts ready within 2 weeks from the date
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    • 39 2 ALC@VA Happy Hour Promotion P O NETT 11AM till 9PM The longest Happy Hour in CBD area! introducing OUL LADIES NIGHT Get 3 drinks on the house on Wednesdaysi www.alcova.com.sg T:62 *****0 Address 146 Market St (opp. Prudential tower)
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  • Page 3 Advertisements
    • 99 3 SARASIN From Every Angle we Offer a Distinct Perspective on Wealth. We've spent some 170 years crafting distinctive private banking solutions. Bank Sarasin cherishes a balanced and sustainable approach not only in terms of growth, resources and investing, but to expertise that has been trusted for generations. Bank Sarasin offers
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  • SINGAPORE MARKETS
    • 664 4  -  STOCKS R SIVANITHY Senior Correspondent IN our Friday column, we stated that the sudden jump in the Straits Times Index (STI) was clearly ahead of the release of some positive economic report in the United States on Friday which in turn would push Wall Street higher.
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    • 510 4  -  CURRENCIES By TEO PAUL SIMON The writer is with private client services at Phillip Futures A FEW weeks ago, the Bank of Japan sold the yen in the open market in an effort to weaken the currency. The intervention occurred on Sept 15
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    • 382 4 COMMODITIES AFP [LONDON] Gold rocketed to record peaks last week, boosted by the weak US dollar, while crude oil raced higher as supportive economic data sparked hopes of improving worldwide energy demand. Many dollar-priced raw materials won support from the struggling greenback, which
      AFP  -  382 words
    • 115 4 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 628.1 3.5 DBXT iBoxxKR 5US$ ***** 471.7 3.0 OCC 3.93% NCPS10 9460 360.0 4.0 DBXT MSKorea 10US$ 5232 236.5 3.6 GLD 10US$ ***** 236.5 1.4 DBXT MSJAP 10US$ 3660 162.9 3.5 Lyxor MS India 10US$ 1793 153.7 7.0 DBXT MSTHAI 10US$
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    • 117 4 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 4998-127.5 -1.9 Thai Prime Fd 850-114.3 -9.3 DairyFarm 745 -71.0 -6.8 DBXT FTVietnam 10US$ 3650 -32.9 -0.7 Wilmar 597 -20.0 -3.2 ShangriLa Asia 1680 -15.6 -5.2 OmegaNav 173 -15.0 -8.0 APStrategic 160 -10.0 -5.9 BMT 630 -10.0 -1.6 Isetan 348 -10.0
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    • 86 4 Where S$ stands Oct 1 CHNG YR 2010 CLOSE FR Sep 30 S$ LOW S$ HIGH US$ 1.3139 0.19 1.4219 1.3139@ Euro 1.8028 -0.49 2.0153 1.6886 Pounds 2.0774 0.64 2.2831 2.0003 A$ 1.2772 -0.15 1.2960 1.1515 Yen* 1.5776 0.23 1.6080 1.4467 Rupiah* 0.***** 0.16 0.*****0.*****@ Baht* 4.3514 -0.52 4.3611
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    • 1596 4 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Properties Ltd 2.80 2.67 10 10.75 10.97 1.28 1.19 ARA Asset Mgt Ltd 1.75 1.75 4 7.33 16.66 1.28 1.22 Armstrong Ind Corp Ltd 1.00 1.00
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    • 4 4 WEEKLY
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    • 66 4 Oct 1 VALUE CLOSE BT OB/OS 126.00 +43.00 BT CADI -*****.00 +209.0 BT 10-day MA -*****.00 +13.00 FTSE ST Mid Cap 777.10 +5.37 FTSE ST Small Cap 572.15 +7.64 FTSE ST All Share 774.20 +7.91 FTSE ST China Top 284.21 +4.22 FTSE ST China 316.73 +3.13 FTSE
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    • 59 4 VOLUME Genting SP 832,354,000 *Genting HK US$ 546,731,000 Thai Beverage 353,085,000 Informatics 221,205,000 GuangzhaoIFB 189,534,000 Golden Agri 188,651,000 JiutianC 179,650,000 China Hongxing 177,938,000 TopGlobal W*****9 164,477,000 ChinaNTown 160,644,000 VALUE($) Genting SP 1,614,890,120 DBS Grp 425,107,736 UOB 386,021,733 SingTel 337,394,639 Wilmar 336,331,436 Keppel Corp 324,892,665 *Genting HK US$
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  • Page 4 Advertisements
    • 85 4 Phillip Futures Bringing Global Markets Closer to You www.phillipfutures.com.sg 6538 0500 Brought to you by PhiISp Futures Pte Ltd (A member of PhillipCapital) CO, Reg. No: *****5695G The above information does riot constitute an investment advice, an offer/solicitation to buy/sell the above mentioned investment produces). Trading in the above products
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  • COMPANY NEWS
    • 864 5  -  HOCK LOCK SIEW By VEN SREENIVASAN THREE of Singapore’s most respected judges will convene in a landmark hearing tomorrow which apart from determining the fates of 1,700 staff and investments of 3,800 shareholders of Singapore Ex-change-listed TT International will have broad implications for future
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    • 532 5  -  Dividend investing has trumped growth investing over 20 years By JAMIE LEE STOCKS with high dividend yields in Asia offer the highest returns and beat investing in stocks that promise earnings growth, Citi Investment Research said in a report last
      532 words
    • 1124 7  - Internal controls so who is responsible? The Code of Corporate Governance should spell out how management should ensure an adequate and effective system UNTICKING THE BOX By SOVANN GIANG The writer is executive director of the Singapore Institute of Directors PRINCIPLE 12 of the Code of Corporate Governance states: “The
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    • 403 7 Oct 1 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 312 7 COMPANY MEETING PLACE DATE TIME Bright World E Suntec Singapore International Convention Exihibition Centre, Meeting Room 206, Level 2, 1 Raffles Boulevard, Suntec City, Singapore *****3 06-Oct 2.30pm SGX A NTUC Auditorium, One Marina Boulevard, Level 7, Singapore *****9 07-Oct 10.00am Comm Design Intl A 29 Scotts Road,
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  • Page 5 Advertisements
    • 164 5 Until Neil Armstrong walked on the moon, he would not rest. Nor would his crew. (Sea of Tranquility, 1969.) yyt. c v 4 V c J.' 5 5T' j ,«Vl '"A if.* ?.20Vm. < J :y J Y. v > •v. :*r wP*' vrTHJ o%JL w;jRb$ wl I Until you
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  • SINGAPORE MARKETS
    • 1419 6  -  TEH HOOI LING Senior Correspondent SINGAPORE stocks or at least the small-caps paused for a breather last week after a rather strong run-up in the previous few weeks. All six of our portfolios slid marginally the biggest loser being the lowest forward price-earnings portfolio
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    • 1648 6  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd THE buying among directors rose slightly while the selling plunged last week based on filings to the Exchange from Sept 27 to Oct 1. A total of 16 companies recorded
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  • Page 7 Advertisements
    • 104 7 e MARKETS get thinking FX/CFD trading Trade in SGD to avoid currency exposure. *****529 «o EURO ZU EVP'S! «TJ S 1 2 20 M m aixff-MiiaxKi! r-f SGD-denominated CFDs available on major indices and commodities. Eliminate your currency exposure when trading assets like gold and oil. Another exclusive from IG
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  • SINGAPORE NEWS
    • 539 8  -  Minister Lim Hwee Hua will carry on with Asia-Europe Meeting on PM Lee’s behalf By CHUANG PECK MING SINGAPORE will still have a say in the outcome of the Asia-Europe Meeting here, despite Prime Minister Lee Hsien Loong’s departure before the 48-nation
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    • 223 8 DUBAI and Singapore may well undertake joint maritime projects “in the very near future”, say Dubai officials. The Maritime and Port Authority of Singapore (MPA) and Dubai Maritime City Authority (DMCA) on Friday signed a memorandum of understanding (MOU) that will see them
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    • 179 8 DOVER Park Hospice (DPH) raised $599,800 from its Sunflower Ball 2010 last Wednesday at the Mandarin Orchard Hotel. With President SR Nathan as the guest of honour, the dinner featured an auction of items including an Alexandra Nechita lithograph from Opera Gallery, two sculptures by
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    • 202 8 It targets wider market, renames itself Singapore Commercial Credit Bureau SME Credit Bureau has renamed itself Singapore Commercial Credit Bureau (SCCB) as it reaches out to a broader market. “The rebranding reflects the bureau’s growing market presence,” SCCB said in a press release, adding that
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    • 778 8 Payment Ex Books Pay Ann (cts) date close date date Ascott R Trust cf 17-Sep 21-Sep ai 14-Sep ASL Marine ak 3.000 27-Oct 29-Oct 10-Nov 19-Aug AusGroup ak 0.640 20-Oct 22-Oct 12-Nov 24-Aug Avi-Tech Elect ak 0.250 04-Nov 09-Nov 24-Nov 27-Aug Avi-Tech Elect be 1.000 04-Nov 09-Nov 24-Nov
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  • Page 8 Advertisements
    • 956 8 w MATS £0 NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg Notice of Annual General Meeting EllipsizLtd(Incorporated the epublic Singapore) RRegistrationNo *****8329R(the ~Compan NOTICEISHEREBYGIVENthatthe15thAnnuaGener Meeting theCompan willbeheld 29WoodlandsIndustrial arkE1,Lobby #04-01/06,NorthTech, Singapore*****6on20October2010 3.00 .m. ansactthe llowin businesses. As Ordinary Business .1 1. TToo receiv andadopttheDirectors RReportandAuditedFinancialStatement orthef if financial earended30June2010,togetherwiththe Auditors RReport the
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    • 32 8 Najib to launch FTA talks with EU, Page 13 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. MATS NOTICES
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1233 9  -  Don’t make use of power play, which usually ends in a win-lose situation instead of a win-win one, reports STUART PALLISTER STUART PALLISTER The writer is editor of INSEAD Knowledge, where this article was first published last month IT’S all too easy, if you have the
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    • 933 9  -  A trip to China to help children learn English gives S’pore volunteers a meaningful takeaway, says KELVIN YUE CAMPUS LIFE KELVIN YUE The writer graduated from Nanyang Business School with a Bachelor of Accountancy degree “THAT day, when you got me to read
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  • Page 9 Advertisements
    • 271 9 Be smart with your finances FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors’ Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
      271 words

  • VIEWS FROM THE TOP
    • 2903 10 THIS WEEK’S TOPIC Are Singapore companies walking the talk in corporate governance? What more needs to be done to make Singapore a corporate governance model for the region and globally? Steven Phan Country Managing Partner Ernst Young LLP GOOD governance rests on a number of
      BLOOMBERG  -  2,903 words

  • Page 11 Advertisements
    • 92 11 For the complete list of views from CEOs, go to http://businesstimes.com.sg Embracing Communities i. < I 1 f, V S r u J v r< -t< 5^ < .->> s *>' <-••' 7* ';<■ V f r v, r-. 7* Lr 4/Jf V f Jftlr'. d A <J Building tomorrow.
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  • ECONOMY WATCH
    • 848 12  -  PM Kan’s measures forcing central bank to respond to risk of recovery stalling By ANTHONY ROWLEY BY announcing a series of measures last Friday to bolster Japan’s flagging economy through public spending, Prime Minister Naoto Kan has put the ball
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    • 305 12 AP [WASHINGTON] Momentum is building among senior policymakers at the Federal Reserve to begin a new round of unorthodox steps to strengthen the economy, according to remarks on Friday by two top officials at the central bank. Both men, presidents of influential Fed
      AP  -  305 words
    • 432 12 AFP [FRANKFURT] A forecast eurozone slowdown is rolling in this month as Ireland’s deficit rewrites record books, Spain’s credit rating is cut and Portugal struggles to pass a budget. Even in Germany, the economic locomotive that whistled good news on the jobs front
      AFP; REUTERS  -  432 words
  • Page 12 Advertisements
    • 295 12 Bank Julius Baer presents The Business Times Leadership Conference 2010 REVIVALor RELAPSE? Is the financial crisis really over? What are the options for investors? 8$ $S Thursday 14 October, 2010 9.30am 2pm Capella Singapore Grand Ballroom $150 per participant (inclusive of luncheon) Register at http://pbp.sph.com.sg/btconf2010/ by midnight, 5 October 2010.
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  • MALAYSIA
    • 692 13  -  Policy reforms are key to harnessing private capital for the Economic Transformation Programme MALAYSIA INSIGHT PAULINE NG KL Correspondent PEMANDU the taskforce behind the Economic Transformation Programme (ETP) has attracted many column inches. Some have been positive about this latest initiative of the country, much of
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    • 241 13 AFP [KUALA LUMPUR] Malaysia said yesterday it will ask Uruguay to return two US-made fighter-jet engines that were traced to the South American country after they were stolen from a Malaysian air force base. The disappearance became a major embarrassment for the
      AFP  -  241 words
    • 1986 13 VOL Feb21 RM +/-(‘000) A M Realty 0.47 unch 27 Abric Bhd 0.24 0.01 271 Advance Synerg 0.15 -0.01 235 Adventa Bhd 2.56 0.16 499 Ae Multi Hldgs 0.35 unch 871 Affin Holdings 3.11 -0.01 1253 Ahmad Zaki Res 0.91 0.04 2895 Aic Corp 0.86 0.04 148 Airasia
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    • 403 13 M’sia stands to gain preferential access to region’s market Bernama [KUALA LUMPUR] Prime Minister Najib Razak is scheduled to launch the Eu-rope-Malaysia Free Trade Agreement negotiations on the sidelines of the Asia-Eu-rope Meeting (Asem) in Brussels. “We hope to officially launch the negotiations
      Bernama  -  403 words
  • Page 13 Advertisements
    • 93 13 We have moved! Kindly note our new office address from 4 October 2010 8 Marina Boulevard #05-01 Marina Bay Financial Centre Tower 1 Singapore *****1 Phone numbers and email addresses remain unchanged. Baker McKenzie.Wong Leow is a joint law venture between Baker McKenzie and Wong Leow LLC, a Singapore law
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  • GREATER CHINA/INDIA
    • 255 14 Bloomberg [LISBON] China Petrochemical Corp will pay US$7.1 billion for a stake in Repsol YPF’s Brazilian unit, the second-largest overseas acquisition by a Chinese company, as it moves to secure oil supplies. Sinopec Group, as China’s second-largest oil and
      Bloomberg  -  255 words
    • 678 14  -  India puts up lavish display to showcase 5,000 years of culture and heritage By LEE U-WEN [SINGAPORE] With a mixture of palpable relief and unbridled joy, India dazzled the world with a spectacular opening to the Commonwealth Games that, for one night at least, saw
      AFP  -  678 words
    • 549 14 Bloomberg [WASHINGTON] The global financial crisis has shown the need for China to focus on “structural problems” in its economy including taking steps to encourage more domestic demand, Premier Wen Jiabao said. “We can rely on stimulating domestic demand to sta- bilise and further
      Bloomberg  -  549 words
    • 279 14 AFP [SYDNEY] Australia’s trade minister yesterday joined US calls for China to adjust its currency and warned Europe that Canberra would not allow a revival of protectionism masquerading as environmentalism. The newly-appointed Craig Emerson said he was confident about growth prospects in China,
      AFP  -  279 words
    • 600 14 China talks focus on funding, technology and measurement Reuters [TIANJIN] The world’s top greenhouse polluter hosts week-long UN climate talks from today aimed at sealing a broader pact to fight global warming and helping poorer nations with money and clean-energy technology. The
      Reuters  -  600 words
  • Page 14 Advertisements
    • 744 14 w WATS V NOTICES IN THE MATTER OF COMPANIESACTCAP50 AND IN THE MATTER OF ALPHEXINVESTMENTSPTE. TD. Registration No. *****8668H (INMEMBERS’VOLUNTAR LIQUIDATION) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company held on 30 September 2010, the following Resolutions were passed: tI t It wasRESOLVED:
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    • 30 14 &tk Lianhe Zaobao Worst is over Analysts upbeat about prospects for shipbuilding S-Chips 'a X. JiP 8s "k a® B'J ■5fl if To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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    • 6 14 Recovering the national pride, Page 16
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  • Page 15 Advertisements
    • 298 15 k RINAUGURAL SINGAPORE A CORPORATE GOVERNANCE WEEK 2010 SIAS Towards Excellence 20t0 in Corporate Governance "As an Organisation we are committed to upholding high standards of corporate governance to enhance shareholder value. We believe practising good corporate governance is central to the health and stability of our financial markets and
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  • FOCUS: COMMONWEALTH GAMES
    • 1504 16  -  The absence of a linear command structure has been a major reason behind the Games’ mismanagement, says JIM YARDLEY JIM YARDLEY NYT [NEW DELHI] WHEN India won its bid for the 2010 Commonwealth Games seven years ago, the event instantly became an emblem of national prestige.
      NYT; AP; PHOTOS: AP, REUTERS  -  1,504 words

  • ASIA-PACIFIC/WORLD
    • 590 17 Wen also pledges not to cut holdings of European govt bonds Reuters [ATHENS] China yesterday pledged to support a stable euro and not reduce its holdings of European government bonds in an effort to deflect criticism of its foreign exchange
      Reuters; AP  -  590 words
    • 470 17 AFP [BANGKOK] A bidding war is heating up for Carrefour’s supermarkets in Thailand, Malaysia and Singapore as the French retail giant plans its exit after failing to take a dominant position in the region. Carrefour, the world’s second-biggest retailer behind US colossus Wal-Mart,
      AFP  -  470 words
    • 266 17 Bloomberg [WASHINGTON] The jobless rate probably rose in September for a second month as the year-old US recovery failed to generate enough jobs to keep up with a growing labour force, economists said before a report this week. Unemployment climbed to 9.7 per cent
      Bloomberg  -  266 words
    • 341 17 Europe needs a solidarity fund to help members in trouble, says the economist Reuters [LONDON] The future of the euro is bleak unless Europe does more to help member countries that experience large adverse economic shocks, Nobel Prize winning economist Joseph Stiglitz said. In
      Reuters  -  341 words
    • 589 17 Exodus follows tax curbs, scrutiny of secrecy, low profits Reuters [MILAN] Italian private banks are exiting Switzerland in increasing numbers and could leave altogether because of a crackdown on tax evasion back home, stiff scrutiny of bank secrecy and poor returns after the financial
      Reuters  -  589 words
  • Page 17 Advertisements
    • 307 17 Greek firms to get funding to buy China-made ships, Page 21 ClVr A DT Investment k31YArVIVX International Property Expo LOCAL OVERSEAS PROPERTY STOCKS FUNDS ALTERNATIVE INVESTMENT 9-10 Oct 11am 8pm Hall 401, SUNTEC Singapore FREE ENTRY www.smartexpos.com Hotline 6408 9697 CELEBRATING 20 SHOWS IN ASIA $500 ■n gifts f Qt
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  • WORLD
    • 435 18 Documentation errors may result in billion-dollar lawsuits AFP [NEW YORK] Already fragile US financial firms are facing a raft of lawsuits and potential fines after three major mortgage lenders admitted to mishandling thousands of home foreclosures. Major mortgage lenders Bank of America, JPMorgan Chase
      AFP  -  435 words
    • 291 18 Banks failing at faster pace than last year; problem banks in FDIC’s list climb to 829 Bloomberg [SAN FRANCISCO] Two lenders collapsed on Friday, pushing the number of US bank failures to 129 for the year, as financial firms suffer losses on loans tied to
      Bloomberg  -  291 words
    • 79 18 [PARIS] The skeleton of an Allosaurus dinosaur being displayed at Sotheby’s auction house in Paris. The Allosaurus, the Tyranosaurus Rex of the Jurassic Period, which is over 10 metres long, is estimated to be worth between 800,000 euros (S$1.45 million) and 1.2 million euros. The auction, including other
      AFP photo  -  79 words
    • 715 18 Bank bail-out leaves legacy of success and political derision AFP [WASHINGTON] Handing over US$700 billion of taxpayer money to Wall Street bankers who caused the global economic crisis was never going to be popular. And so it proved for the much maligned Troubled Asset Relief
      AFP  -  715 words
  • Page 18 Advertisements
    • 1959 18 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg IN THE MATTER OF THECOMPANIES 50 AND IN THE MATTER OF NIXVUESY EMSPTE (INMEMBERS’ UNTAR LIQUID TION) (Co. eg. *****921M) NNOOTICEOFRESOLUTIONS AAtt tthhee Extraordinar Gener Meeting NixvueSy emsPteLtddulycon nedand heldon he day September20 tthhee following esolutions dulypassed. TI T IT WASRESOLVED:(I) AS SPECIAL
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  • ASIA-PACIFIC
    • 769 19 China’s export curbs to spur country that holds 46% of world’s deposits ‘People are not going to accept larger, clunkier devices, they want smaller, faster, lighter. These are trends which are driving growth in the rare earth market.’ Matthew James, Lynas
      AFP  -  769 words
    • 325 19 Bloomberg [TOKYO] Japan, the world’s biggest importer of rare earths, plans to buy more of the minerals from Mongolia to reduce dependence on China, the Asahi newspaper reported. Prime Minister Naoto Kan and his Mongolian counterpart Sukhbaatar Batbold met on Saturday in Tokyo
      Bloomberg  -  325 words
  • Page 19 Advertisements
    • 513 19 AboutYamada INITIAL PUBLIC OFFERING Major supplier of self-cultivated shiitake mushrooms in Fujian Province, PRC Operates one of the largest shiitake mushroom cultivation bases in Fujian Province, PRC (aggregate of 2,614.4 mu) Potential upstream resource sustainability throughsawdustfromoureucalyptusplantations (approximately 20,000 mu) which we intend to utilise in the production of synthetic logs,
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  • WORLD
    • 1022 20  -  Threat of double dip recession recedes, but risk of deflation remains, analysts say WALL STREET INSIGHT By ANDREW MARKS THE US stock market downshifted from overdrive to neutral last week. Investors chose to take their collective feet off the gas pedal
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    • 51 20 This photo provided by Swann Auction Galleries shows John Lennon and Yoko Ono in December 1980 on the last day of Lennon’s life. An original copy of the photograph, taken by Annie Liebovitz for Rolling Stone magazine, will be auctioned on Oct 19 in New York. AP
      AP  -  51 words
    • 285 20 AFP [ROME] Union of European Football Associations (UEFA) chairman Michel Platini has repeated fears for the financial security of the European game, telling Italian daily Il Sole 24 Ore that “European football is overall not in good (financial) shape”. In an interview published yesterday,
      AFP  -  285 words
    • 514 20 Bank told to review strategy of buying foreign currency Bloomberg [JERUSALEM] Bank of Israel governor Stanley Fischer’s policy of buying foreign currency to weaken the shekel has reached a “dead end” and the central bank should rethink its strategy, an adviser to the finance
      Bloomberg  -  514 words
    • 716 20 Overhaul will cost money at first but save in long term Reuters [BIRMINGHAM] Britain will launch an overhaul of the welfare system that will cost money at first but save in the long term, Prime Minister David Cameron said yesterday as he stressed his
      Reuters; AFP FILE PHOTO  -  716 words

  • AVIATION/SHIPPING
    • 511 21 US$5b fund created for the purpose, says China Premier Wei Jiabao in Athens AFP [ATHENS] China’s Premier Wen Jiabao has announced the creation of a US$5 billion fund to help finance the purchase of Chinese ships by Greek shipping companies. The
      AFP; AP  -  511 words
    • 276 21 Bernama [NAGOYA, Japan] The Multi-Crew Pilot Licence (MPL) programme is fast gaining acceptance in the wake of increasing demand for pilots, Sherry Carbary, vice-president of Boeing Training Flight Services, said. MPL is a new competen-cy-based pilot training programme developed by the International Civil
      Bernama  -  276 words
    • 256 21 Reuters [WASHINGTON] Flight testing of Lockheed Martin’s F-35 fighter jet, the costliest US arms purchase, has been suspended after discovery of a fuel pump sequencing problem that could have caused engine stall, the Defense Department said on Friday. All three F-35 models
      Reuters  -  256 words
    • 3012 21 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1230 SQ456 1250 EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7268 1745 VS7279 2350 Amsterdam SQ323 0605 LO4032 2345 US5410 0605 SQ324 2345 AZ3992 1525 US5411 2345 KL835 1525 Athens SQ348 0105 Atlanta DL281
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    • 354 21 Meeting bares rifts between rich and developing countries Reuters [LONDON] The International Maritime Organization (IMO) failed to reach agreement on proposals to cut carbon emissions from new ships, delegates said on Friday, adding that further talks would be held in March.
      Reuters  -  354 words
    • 209 21 Bloomberg [BRASILIA] Brazil plans to publish regulations this week to make it easier for companies and consumers to import goods by express shipment, said Otacilio Dantas Cartaxo, who runs the Federal Tax Service. The government will process expressshipped goods electronically and will allow for
      Bloomberg  -  209 words
  • Page 21 Miscellaneous
    • 378 21 CRYPTIC CROSSWORD Across 1 Fellows beginning to emerge in horse-breeding place that’s full (7) 5 One examining car by hill (7) 9 Remedy relative backed associated with part of body? About right (7) 10 Recalled atmosphere with chatter when imbibing new drink (7) 11 Mag in part excited flier (9)
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  • DINING OUT
    • 934 22  - The view’s a blast but NEW RESTAURANT Ku De Ta Skypark at Marina Bay Sands 1 Bayfront Avenue Tel: 6688-7688 By Jaime Ee YOU know you’re not in Bali when you try to go to Ku De Ta and beefy security staff stop you. By their body language, you can
      PHOTOS BY YEN MENG JIIN  -  934 words
    • 736 22  -  NEW RESTAURANT Paradise Dynasty #04-12A Ion Orchard 2 Orchard Turn Tel: 6509 9118 By Audrey Phoon IT had to happen eventually. Like all the other reputable Chinese restaurant chains before it, the Paradise Group has opened a specialised la mian (noodles) and xiaolongbao outlet. But before you
      736 words
  • Page 22 Advertisements
    • 343 22 1 4th si+EgaiSMSjik*^ ""Ma* INF^COMM COMMERCE CONFERENCE PREPARING TODAY'S ENTERPRISE FOR TOMORROW'S TECHNOLOGY INNOVATION x lor PRODUCTIVITY A IUI ENTERPRISE OF GROWTH AND PROFITABILITY Date 14 October 2010, Thursday j Venue Suntec Singapore, Level 3 Time 8.30am to 4.30pm > How can you increase innovation and productivity to be well-prepared
      343 words

  • SINGAPORE STOCKS
    • 9421 23 Week ended: Oct 1 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 13 3148 8Telecom 19 -1 2671 20 18.5 18.5 19 1.7 9.5 6.1 91 12 5 5834 A-Sonic
      9,421 words
    • 2084 24 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 9 4 1181 t AA Grp 4.5 +0.5 633 4.5 4 4.5 5 25 4.3 225 130 6222 t APStrategic 160 -10
      2,084 words
    • 117 24 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 2.190 +0.030 CapitaLand 4.120 +0.060 CapitaMall 2.090 -0.060 CityDev 12.880 +0.120 ComfortDelGro 1.540 +0.020 DBS Grp 14.220 +0.140 F&N 6.480 -0.020 Genting SP 2.000 +0.140 Golden Agri 0.570 HK Land 6.330 +0.120 JMH
      117 words
    • 2660 24 Transaction date: Oct 1 For a full listing of the closing prices, log on to BT online at http://business-times.asia1.com.sg after 11.30pm every trading day HONG KONG Vol HK$ +/-'000 Sep 30 Aeon Credit 6.88 unch 4 Aeon Stores 15.92 0.06 434 Angang Steel 12.46 -0.04 ***** Anhui Conch
      2,660 words
    • 186 24 Active counters with no volume for today are not included. MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 9 3 0 0 0 6 9 3 Manufacturing 71 108 53 8 16 20 79 124 73 Commerce 30 28 27
      Active counters with no volume for today are not included.  -  186 words
    • 898 24 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 119xd -4 6 119 119 113.3 118 543.2 992 755 CIMBAsean40 100US$ US990 +9 11 992 984
      898 words
    • 81 24 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 36.5 6000 AVJennings A51.5 +1.5 45 52.5 50 48.5 53 3.6 6.8 4.1 134.1 55 16 6017 Genting HK US$ US46 -2.5 *****1
      81 words
    • 123 24 Sing foreign stocks. Value calculated using Monday's exchange rates. TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 138,475 138,475 455,490 455,490 Manufacturing 3,013,613 216,471 3,230,084 1,733,758 22,558 1,756,316 Commerce 564,277 240,679 804,956 634,633 41,126 675,759 Tpt/Stor/Comms 710,887 22,872 733,759 1,070,696 3,073 1,073,769 Finance
      Sing & foreign $ stocks. Value calculated using Monday's exchange rates.  -  123 words

  • Page 24 Advertisements
    • 26 24 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
      26 words

  • FINANCE & COMMODITIES
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr Oct 1 Index Change Change Change Change Change Change World Index Preliminary 833.2 0.2 0.1 0.1 -5.3 0.4 1.3 EAFE Preliminary 761.3 0.0 -3.0 0.2 -7.3 0.4 -0.8 Europe Preliminary 1117.1 0.0
      374 words
    • 184 25 Oct 1 $S Offer Bid 0vernight 0.02 par 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.08 US$ Offer Bid 7 days 0.35 0.25 1 month 0.48 0.28 2 months 0.50 0.30 3 months 0.53 0.33 6 months 0.65 0.45 9 months 0.80 0.60 12
      184 words
    • 22 25 Oct 1 S$ Bid Offer 1-month 1.3140 1.3152 2-months 1.3139 1.3152 3-months 1.3139 1.3152 6-months 1.3138 1.3151 Source: OCBC
      22 words
    • 132 25 Oct 1 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2610 1.2990 Can dollar 1.2700 1.2860 Euro 1.7860 1.8060 NZ dollar 0.9600 0.9810 Sterling pound 2.0580 2.0810 US dollar 1.3070 1.3220 Local dollars to 100 units of foreign
      132 words
    • 27 25 Oct 1 Open High Sett STI Oct 3129 SIMSCI Oct 364.3 369.0 369.0 Taiwan Oct 290.6 293.3 291.0 Source: MF Global (S) Pte. Ltd
      27 words
    • 72 25 Oct 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 10 2756 2746 2756 2746 2 600 Nov 10 2738 2729 2743 2708 1402 ***** Dec 10 2740 2733 2750 2708 9003 ***** Jan 11 2753 2741
      72 words
    • 410 25 Oct 1 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec10 99.6400 0 7520 Mar11 99.5850 0 1662 Jun11 99.5050 0 1871 Sep11 99.4050 0 486 EUROYEN TIBOR FUTURES Dec10 99.6900 0 2972 Mar11 99.7150 0 1311 Jun11 99.7300 99.7300 99.7300 99.7300 0 3150 Sep11 99.7250 0
      410 words
    • 149 25 Oct 1 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Nov 10 368.0 368.0 8.0 8 408 Dec 10 368.0 570 Jan 11 368.0 635 Feb 11 370.0 369.0 369.0 20 782 Mar 11 369.0 36 414 Apr 11
      149 words
    • 86 25 Oct 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 30.12.2010 0.30 1-Year BY*****W 03.05.2011 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.13 104.17 104.16 5-Year N*****0S 2.875 01.07.2015 109.20 7-Year N*****0Z
      86 words
    • 105 25 Oct 1 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 10 1057.00 1106.75 1106.50 1053.50 Jan 11 1066.75 1115.75 1115.25 1064.00 Mar 11 1075.00 1122.75 1122.75 1073.00 May 11 1078.25 1124.75 1123.75 1077.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Oct 10 43.49 44.70 44.80
      105 words
    • 77 25 CRUDE OIL PRODUCTS Sep 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 81.41 2.02 WTI (Near Mth) 79.84 2.10 Dubai (1-Mth F) 77.98 1.90 Tapis blend 87.50 2.00 Minas 80.85 2.00 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 76.72 0.39 Jet Kerosene 90.30 1.85 US$/barrel Opec Oil
      77 words
    • 2483 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 3 0.5 8511 1 3 -8 2.17 2 6221 Asia-Pacific Strategic W*****6 39 1 150 18 4.10 43 6227 ASJ Hldgs W*****1 2.5 1 4
      2,483 words
    • 464 25 Oct 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.999 6.482 0.708 7.520 43.246 86.459 0.808 10.964 2.989 1.310 83.576 42.520 1.274 6.746 0.950 30.333 29.288 0.614 0.969 Canada 1.001 6.491
      464 words
    • 85 25 Oct 1 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 154 25 Oct 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2730 1.2747 0.9688 0.9692 Canadian dollar 1.2746 1.2766 0.9700 0.9707 Euro 1.7982 1.8001 1.3685 1.3687 NZ dollar 0.9714 0.9727 0.7393 0.7396 Sterling pound 2.0743 2.0766 1.5786 1.5789
      154 words
    • 140 25 Oct 1 GOLD (US$/oz) Sep 29 Sep 30 Hong Kong 1307.10 1311.50 Sep 30 Oct 01 London 1301.10 1318.40 1301.85 1318.85 Source: Thomson Reuters CAST BAR Oct 01 (S$) Selling Buying Kilobar 59,328.29 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 133 55 5gm 377 277 10gm 674
      140 words
    • 71 25 Oct 1 Oct 1 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2328.75 2321.50 3 months 2359.00 2351.00 Copper, Grade A (US$/tonne) Cash 8088.00 8006.00 3 months 8100.00 8014.00 Lead (US$/tonne) Cash 2268.75 2252.25 3 months 2295.00 2278.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
    • 82 25 Source: Bloomberg Oct 1 COCOA (£/tonne) Close Prev High/Low Dec 10 1868 1910 1938/1866 Mar 11 1886 1929 1952/1884 May 11 1903 1945 1967/1900 Jul 11 1915 1958 1975/1912 COFFEE (US$/tonne) Close Prev High/Low Nov 10 1725 1722 1740/1710 Jan 11 1750 1746 1765/1736 Mar 11 1772 1769 1785/1764
      Source: Bloomberg  -  82 words
    • 5771 26 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN New Orleans/Camden *Loads E./W.
      5,771 words


  • Page 27 Advertisements
    • 28 27 Legal services required by shippers owners Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327 THE BUSINESS TIMES SHIPPING TIMES
      28 words
    • 34 27 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE -.THE BUSINESS TIMES SHIPPING TIMES FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Timoc^
      34 words

  • BizIT
    • 699 28  -  This trend will help to boost Asia’s contribution to its overall business, reports VICTORIA HO VICTORIA HO SINGAPORE companies are warming up to outsourcing their IT services, and this is part of a trend in the region that is expected to grow
      699 words
    • 752 28  -  By AMIT ROY CHOUDHURY INDIAN IT services company Satyam Computer Services, renamed Mahindra Satyam after being taken over last year by the Mahindra group following a financial scandal, crossed an important landmark last week in its path to rehabilitation. The beleaguered company finally announced audited
      752 words
    • 1178 28  -  The moot point is whether maglev railway is value for money. Not quite By RAJU CHELLAM WHILE rail travel dates back to more than 100 years, new high-speed tracks and trains now have a huge amount of high technology involved, on the software, hardware
      FILE PHOTO  -  1,178 words
    • 302 28 Bloomberg [WASHINGTON] Microsoft Corp, the world’s largest software company, filed patent infringement claims targeting Motorola Inc’s Android smartphones, in the latest skirmish in the growing market for versatile mobile devices. The nine patents relate to synchronising e-mail, calendars and contacts, scheduling meetings, and notifying applications
      Bloomberg  -  302 words
    • 1182 29  -  Trend Micro boss feels IT security is about being able to cover all bases By AMIT ROY CHOUDHURY THE future of information security lies in two directions, one is in the protection of cloud computing infrastructure and the other is in end-point device protection,
      1,182 words
    • 870 29  -  There’s a need to define what is the acceptable level of service in a cloud computing environment <yousay> By NICK EVERED The author is regional vice-president for Asia and India at Compuware Corporation WITH the cloud computing model increasing in popularity as a powerful alternative
      870 words
    • <what’s up>
      • 38 29 MARK Smith has been named managing director and regional leader for Asia Pacific and Japan at Savvis. Mr Smith comes to the cloud infrastructure provider from Thomson Reuters in Japan, where he was president.
        38 words
      • 58 29 THE National Environment Agency (NEA) has implemented Anacle Systems’ commercial property manager software to manage 114 hawker centres housing 15,000 stalls. The $4.7 million contract is the largest awarded by the NEA to date and will cover aspects such as hawker stalls lease application
        58 words
      • 32 29 ASUS has released a new series of gaming notebooks, the ROG G53Jw-3D and ROG G73Jw. Both laptops come with 1.5GB GDDR5 memory and the Nvidia GTX-460M graphics card.
        32 words
      • 56 29  -  Compiled by VICTORIA HO TREK has released a new Wi-Fi enabled SD card for digital cameras that will allow photos to be transferred wirelessly between devices. The FluCard comes in sizes ranging between 8Gb and 64Gb. The 8Gb model will retail on Trek’s
        56 words
    • 145 29 AFP [SAN FRANCISCO] French videogame titan Ubisoft is expanding the world of “Assassin’s Creed” to Facebook, breaking down the barrier between play on consoles and at the hot online social network. “Project Legacy”, available free for play at Facebook, is Ubisoft’s first “companion game” crafted
      AFP  -  145 words

  • Page 29 Advertisements
    • 1826 29 MATS NOTICES C O PHARMACEUTICAL TECHNOLOGY (HOLDINGS) LIMITED Registration No. ***** (Incorporated under the laws of Bermuda with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of C O Pharmaceutical Technology (Holdings) Limited (the "Company") will be held at Crystal Room 3,
      1,826 words

  • Page 30 Advertisements
    • 3004 30 ADVERTORIAL Forging a new frontier The NIA honours those who have led the way to create a vibrant technology landscape through innovation and ingenuity The Infocomm Development Authority (IDA) is running the fifth year of its biennial National Infocomm Awards (NIA). The honour is given to Singapore’s infocomm thought leaders
      3,004 words