The Business Times, 19 December 2011

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Monday, December 19,
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  • 792 1  -  Relief for manufacturers, too, but party pauses for producers and speculators By NEIL BEHRMANN in London GOOD news for the global economy at last. Commodity prices from gold and oil to copper and cotton have fallen sharply from their peaks this year and will
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  • 158 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 2,659.22 -35.38 KL COMP 1,466.22 +6.09 NIKKEI 225 8,401.72 -134.74 HANG SENG 18,285.39 -300.84 SET INDEX 1,034.06 +0.06 JAKARTA COMP 3,768.35 +8.74
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  • 695 1  -  By in ANTHONY ROWLEY in Tokyo INVESTIGATORS are expected to conduct an official raid on the headquarters of Japan’s scan-dal-tainted Olympus Corporation this week in search of evidence that former senior executives of the camera and medical equipment maker used fraudulent accounting to cover
    BLOOMBERG  -  695 words
  • Page 1 Advertisements
    • 156 1 DINING OUT Cool Esquina pleases PAGE 21 8 '*****1 *****4 IWC Portuguese. Engineered for navigators. Portuguese Perpetual Calendar. Ref. 5032: One thing at IWC always remains the same: the desire to get even better. Here is one of the finest examples, with the largest automatic movement manufactured by IWC, Pellaton
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    • 30 1 BizIT Palo Alto Networks zeroes in on firewalls PAGE 28 HOCK LOCK SIEW Buy and hold but not just yet PAGE 5 What’s eating New Zealand FOCUS I PAGE 19
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    • 11 1 NEWS ANALYSIS Plan to import electricity silent on exports PAGE 9
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  • TOP STORIES
    • 570 2 Importers perk up as commodities plunge GOOD news for the global economy at last. Commodity prices from gold and oil to copper and cotton have fallen sharply from their peaks this year and will help manufacturers and importers. The decline, however, will unnerve producers in Australia, Canada, Russia,
      570 words
    • 855 2  -  Inspection shows dislodged ‘claws’, damaged covers and collector shoes By UMA SHANKARI [SINGAPORE] An overnight inspection to get to the root of the recent train disruptions threw up several startling findings and may add several minutes to your travel time. The
      855 words
    • 869 2  -  WALL STREET INSIGHT By ROB ROB CURRAN SANTA Claus took a wrong turn in Europe last week, but traders hope that cheery economic and earnings data will bring him to the US stock market this week. December is a consistently positive month
      AP  -  869 words
    • 551 4  -  CEO upbeat about the business space provider’s outlook in the next 3-5 years By UMA SHANKARI [SINGAPORE] Business space provider Ascendas will grow its fund management unit by launching more Reits (real estate investment trusts) and funds over the next few years, said its
      551 words
    • 272 4 [BERLIN] Top European Central Bank policymaker Juergen Stark said that he quit in September as he was unhappy with the way the situation in the eurozone had developed, according to German weekly Wirtsch afts Wo che. “There is a
      272 words
    • 589 4  -  By LYNN KAN [SINGAPORE] Eu-rope-based shipping companies expecting heavier taxation in their home jurisdictions in the future are increasingly heading to tax-friendly Singapore to set up shop, said London maritime law firm Ince Co. James Wilson, Ince’s global senior partner, told BT that
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  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 98 3 R W, M'R/ VHF F 7 S '/A i <*9 r S -> 8 k PLANET OCEAN "Having left the water planet, with all that water brings to the Earth in terms of colour and abundant life, the absence of water and atmosphere on the desolate surface of the Moon
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  • Page 4 Advertisements
    • 2281 4 thebusinesstimeswww.businesstimes.com.sg SEPTEMBER 24-25, 2011 S$1.00 MICA (P) 121/08/2011 weekend www.businesstimes.com.sg SEPTEMBER 24-25, 2011 S$1.00 MICA (P) 121/08/2011 the raffles conversation CAREER DIPLOMAT BARRYDESKER 12-13 cheap funds Local banks to slash savings ratesDBS Bank, OCBC DBS Bank and UOB will offer amere 0.05 per cent mere come October, even asHSBC and
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  • COMPANY NEWS
    • 428 5  -  As foreign funds exit, stocks expected to struggle due to weak currencies By JAMIE LEE EXPECT more outflows from emerging markets next year as foreign capital heads home, a strategist from ING Investment Management said. “We expect markets to remain nervous,” said Maarten-Jan
      BLOOMBERG FILE PHOTO  -  428 words
    • 665 5  -  HOCK LOCK SIEW By R SIVANITHY IT MUST surely be one of the market’s greatest ironies that in a low-li-quidity, high-volatility environment, probably the best survival strategy for retail investors is the time-honoured and passive “buy and hold”, since this offers the best
      665 words
    • 538 7 Net redemptions in equity funds hit US$8.2b, reversing prior week’s inflows Reuters [NEW YORK] Investors cut their exposure to both US equity and bond funds in the week ended Dec 14, with anecdotal evidence pointing to institutional investors doing much of the
      Reuters; BLOOMBERG FILE PHOTO  -  538 words
    • 747 7 Loss of cherished AAA no longer means instant ‘sell’ Reuters [PARIS] In a world where the US no longer has a AAA and big economies like France and Germany risk losing theirs, investors are increasingly relying as much on their own
      Reuters; AFP FILE PHOTO  -  747 words
    • 241 7 COMPANY MEETING PLACE DATE TIME Albedo Ltd E Jurong Country Club 9 Science Centre Road, Albizia Room Singapore *****8 22-Dec 3.00pm Healthway Med E The National University of Singapore Society, Kent Ridge Guild House, Evans Room, 9 Kent Ridge Drive, Singapore *****1 28-Dec 10.00am Yamada Green A 6
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    • 403 7 Dec 16 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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    • 422 7 Payment Ex Books Pay Ann (cts) date close date date Action Asia aw 0.400 05-Dec 07-Dec 20-Dec 21-Nov Asia Pac Brew ak 63.000 25-Jan 27-Jan 13-Feb 11-Nov Asia Pac Brew bh 15.500 25-Jan 27-Jan 13-Feb 11-Nov Ausgroup ak 0.640 12-Dec 14-Dec 30-Dec 26-Aug CapitaMall Trust cf 1.020 04-Nov
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 688 6  -  STOCKS R SIVANITHY Senior Correspondent TRADING volume has been dwindling over the past few months. That’s very likely to continue with Christmas and the New Year drawing closer, as more players leave the market. Many traders have already closed their books early and left for
      688 words
    • 536 6 CURRENCIES [SEOUL] Asian currencies strengthened, paring weekly declines, after a government report showed jobless claims in the United States fell to the lowest level since 2008, buoying the region’s export outlook. India’s rupee led gains as the Bloomberg-JPMorgan Asia Dollar
      536 words
    • 1534 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Cap Ind REIT 2.00 2.00 2 9.35 10.00 1.33 0.94 Amtek Engg 2.60 2.60 5 0.08 5.27 0.82 0.58 ARA Asset Mgt 1.71 1.71 7
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    • 537 6 COMMODITIES AFP [LONDON] Commodity prices slumped last week on increasing worries about the future of the eurozone, the possibility of fresh recession in major economies and a Chinese manufacturing slowdown, analysts said. Traders, meanwhile, reacted to news that the Federal Open Market Committee (FOMC)
      AFP  -  537 words
    • 4 6 WEEKLY
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    • 66 6 INDICES Dec 16 VALUE CLOSE BT OB/OS -526.00 -23.00 BT CADI -*****.00 +13.00 BT 10-day MA -*****.00 -52.00 FTSE ST Mid Cap 587.47 -1.17 FTSE ST Small Cap 395.12 -1.51 FTSE ST All Share 637.39 +4.16 FTSE ST China Top 185.95 -0.02 FTSE ST China 220.05 -0.87 FTSE
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    • 61 6 VOLUME Goldtron 261,170,000 Golden Agri 238,626,000 PSL Hldgs 174,153,000 SingTel 151,274,000 Noble Grp 141,891,000 Genting SP 117,720,000 GMG Global 90,393,000 HPH Trust US$ 67,870,000 ChinaFashion 65,458,000 Thai Beverage 62,748,000 VALUE($) SingTel 479,394,748 DBS Grp 349,978,740 UOB 269,703,307 GLD 10US$ 196,768,647 OCBC Bk 186,170,324 Genting SP 176,829,125 Golden
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    • 110 6 BY CENTS CLOSE UP DairyFarm 989 142.2 12.4 Asia Pac Brew 2789 129.0 4.8 IS DJ US Tech 6561 83.5 1.0 DBXT AUDCS 5AU$ ***** 57.3 0.2 DBXT S&P Short 10US$ 4281 56.1 1.0 Total Access 284 47.0 14.5 OCBC Bk 5.1%NCPS 100 ***** 29.0 0.3 UOB.ES.1112 1585 25.0
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    • 117 6 BY CENTS CLOSE DOWN GLD 10US$ *****-1524.0 -7.0 DBXT Nifty 10US$ 9154-396.5 -3.2 JMH 4609-367.8 -5.8 JSH 2750-362.6 -9.2 IS S&P500 *****-276.5 -1.7 DBXT MSKorea 10US$ 5084-234.8 -3.4 DBXT E50 10US$ 3288-163.1 -3.7 DBXT MSJAP 10US$ 3396-139.6 -3.1 DBXT MSUSA 10US$ 2948-135.7 -3.4 DBXT MSEurope 10US$ 3889-131.7 -2.5 BY
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    • 6 6 WEEKLY
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    • 1436 8  -  Buyback activity among listed firms remains flat for second straight week INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd THE buying of shares surged while the selling among directors remained very low based on filings on the Singapore
      FILE PHOTO  -  1,436 words

  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 685 8 MATS NOTICES UNICORN HOLDINGS PRIVATE LIMITED COMPANY REGISTRATION NO. *****0811Z (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY WAS HELD AT 48B NASSIM ROAD, SINGAPORE *****0 ON THE 9TH DAY OF DECEMBER 2011 AT 10.00AM AND
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    • 399 8 W- WATd ssrss, J il www.cats.com.sg/notices Fusionopolis Phase 5 Concept and Price Tender Site Information Location Fusionopolis Way one-north (See shaded portion) Land Area 19,283 sqm Gross Plot Ratio 3.5 Tenure 60 years Zoning Business Park White 15 Portsdown onenorth Road Submission of Tender Tender Launch Date: 16 Dec 2011
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    • 781 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KYOSHIN TECHNOSONIC (S) PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****0696K NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 260 Orchard Road, #07-05 The Heeren, Singapore *****5 on the
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  • SINGAPORE NEWS
    • 709 9  -  Gencos see exports helping to develop regional market for electricity NEWS ANALYSIS By RONNIE LIM SINGAPORE’S plan to import electricity as set out in a consultation paper by the Energy Market Authority last week is currently a one-way document which does not present
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  • Page 9 Advertisements
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    • 231 9 BE EMPOWERED There are opportunities in every market. The challenge is discovering where they are. Intelligent investors use Saxo's leading trading and advanced research tools to find them. Backed by our award-winning technology, products and services, Saxo gives you cutting edge innovation. For secure, stable transactions in even the most
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 861 10  -  It offers useful parameters to gauge if a particular security fits an investor’s risk profile, reports MINDY TAN VOLATILITY a word that makes investors quake in their boots? While securities with higher volatility are generally perceived to be riskier, understanding the concepts involved can better enable young investors
      LUDWIG ILIO  -  861 words
    • 1055 10  -  STARTING YOUNG By TAM TAM YU LING WHAT started out as a game turned out to be a business opportunity for John Lim. In mid-February this year, Mr Lim tried to make a booking for a laser tag game session with a local firm. However, due
      YEN MENG JIIN  -  1,055 words
  • Page 10 Advertisements
    • 325 10 Get started now ‘Spot the Index’ contest THINK you can forecast where the market’s headed? Then put your skills to the test and familiarise yourself with our local stock market index, the Straits Times Index (STI), now. Simply spot the weekly closing index rate and stand to win an Apple
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  • ECONOMY WATCH
    • 706 11 Compromise on tax cut extension forces president to review oil pipeline plan AFP [WASHINGTON] US President Barack Obama yesterday faced a new congressional gridlock over a payroll tax cut after he had signed into law a US$1 trillion spending bill, averting a
      AFP  -  706 words
    • 396 11 AFP [ATHENS] Poverty in Greece has risen to new heights under a gruelling recession exacerbated by austerity that has swelled the ranks of the unemployed, the homeless and the destitute, experts said. In comments to Ethnos daily, public officials, senior churchmen and
      AFP  -  396 words
    • 235 11 Reuters [BANGKOK] Thailand plans to sign a bilateral currency swap agreement this week worth seven billion yuan (S$ 1.44 billion) with China’s central bank to help facilitate international trade between the two countries, the Bank of Thailand said yesterday. “This agreement will
      Reuters  -  235 words
  • Page 11 Advertisements
    • 226 11 1STAR ALLIANCE MEMBER f > A i WFM W FLY«S rv tk '< mJ' THAI Royal Silk. Connecting you with the world for less. CLASS^ Enjoy exclusive all-in MasterCard® fares from: *1 648 *1548 *788 Chennai Shanghai Bangkok For business or leisure, flying Royal Silk Class offers a quality of
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  • MALAYSIA/INDONESIA
    • 506 12 Victims were mostly Afghan, Iranian asylum-seekers AFP [WATULIMO, Indonesia] More than 200 people were feared dead after a heavily overloaded boat packed mostly with Afghan and Iranian asylum-seekers sank off Indonesia en route to Australia, rescuers said yesterday. Australia’s government called the sinking
      AFP  -  506 words
    • 663 12  -  While AirAsia blows its trumpet, MAS mourns losses MALAYSIA INSIGHT PAULINE NG KL Correspondent MALAYSIANcarriers Malaysia Airlines (MAS) and AirAsia couldn’t be ending the year in a more contrasting fashion. “10 awesome years,” AirAsia declared in a two-page ad spread earlier this month. The first
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    • 1823 12 VOL Dec 16 RM +/-(‘000) A M Realty 0.42 0.01 29 Abric Bhd 0.33 0.01 394 Advance Synerg 0.20 unch 662 Adventa Bhd 1.57 -0.01 3 Ae Multi Hldgs 0.29 unch 50 Affin Holdings 2.89 -0.01 258 Ahmad Zaki Res 0.65 unch 63 Aic Corp 1.22 -0.08 31
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  • Page 12 Advertisements
    • 1537 12 MATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices rm WEARNES WBL CORPORATION LIMITED Building Heritage. Creating Future (Incorporated in Singapore) (Company Registration No: *****0028Z) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 97th Annual General Meeting of the stockholders of WBL Corporation Limited will be held at
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  • GREATER CHINA/INDIA
    • 657 13 Weakest rise in new home prices from last year, but analysts see no let-up in fight against speculation Reuters [BEIJING] China’s November housing inflation hit its lowest level this year, a victory for Beijing’s campaign to ward off property bubbles as it steadily
      Reuters  -  657 words
    • 835 13 HK has played a key role in the region’s art market boom [HONG KONG] In a spacious, luxury apartment perched on the leafy hills of Hong Kong, Kai-Yin Lo browses through a trove of Chinese art acquired over several decades, reflecting how
      BLOOMBERG  -  835 words
    • 221 13 Bloomberg [NEW DELHI] India’s Prime Minister Manmohan Singh inducted a minister into his Cabinet yesterday to accommodate a regional party that joined the federal ruling coalition last week. Ajit Singh, 72, the leader of the Rashtriya Lok Dal party that has a voter base
      Bloomberg  -  221 words
    • 275 13 Reuters [BEIJING] China will keep “appropriate” investment growth in 2012 to help underpin the economy amid the global downturn, the country’s top economic planner said in comments published yesterday. “The key to maintain steady and relatively fast economic growth is expanding domestic demand,”
      Reuters  -  275 words
    • 425 13 It fears intellectual property falling into wrong hands AFP [MICHIGAN] General Motors Co has reiterated its opposition to the sale of the Swedish carmaker Saab to a group of Chinese investors. GM spokesman James Cain said over the weekend that the
      AFP  -  425 words
    • 17 13 Branchen Stars R1C-A 12/12/2011 136,10 EUR db X-MACRO Trading Index Fund I4D 08/12/2011 95,94 GBP
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  • Page 13 Advertisements
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  • WORLD
    • 562 14 Banks backing away from acting as primary dealers of government bonds Bloomberg [LONDON] Euro nations may have to pay more to borrow US$1.1 trillion next year as cash-strapped banks cut back on making markets in government bonds. “Some poor auction results that
      Bloomberg  -  562 words
    • 457 14 Deal to allow 11 lenders to avoid criminal prosecution Reuters 8 [ZURICH] US officials are offering 11 Swiss banks, among them Credit Suisse, a deal that allows them to avoid criminal prosecution in exchange for revealing full details of their US
      Reuters; BLOOMBERG  -  457 words
    • 407 14 AFP [PRAGUE] Former Czech president and hero of the Velvet Revolution Vaclav Havel, who steered his country to independence from Soviet rule in 1989, died yesterday at the age of 75, his office said. Mr Havel died in his sleep at dawn after
      AFP  -  407 words
    • 591 14 LAT-WP [WASHINGTON] Mario Draghi is playing a high-stakes game of poker, and leaders from Europe’s biggest economies are trying to decide whether to call his bluff or whether he’s bluffing at all. Mr Draghi, who became president of the European Central
      LAT-WP  -  591 words
    • 451 14 Reuters [BAGHDAD] The last convoy of US soldiers pulled out of Iraq yesterday, ending nearly nine years of war that cost almost 4,500 American and tens of thousands of Iraqi lives and left a country grappling with political uncertainty. The
      Reuters; AP  -  451 words
    • 560 14 NYT [COLUMBUS] In Afghanistan, Clayton Rhoden earned about US$2,500 a month as a corporal jumping into helicopters to chase down improvised explosive devices or check out suspected bomb factories. Now, he lives with his parents, sells his blood plasma for US$80 a week and
      NYT  -  560 words
    • 828 15 US offers to assist Manila authorities; Chinese embassy to donate US$10,000 Reuters [CAGAYAN DE ORO, Philippines] Rescuers searched for hundreds of people still missing in the southern Philippines yesterday after flash floods and landslides swept houses into rivers and out to sea,
      Reuters; AP  -  828 words
    • 843 15 London bristles as Paris fingers it to rating agencies [PARIS] To the long list of victims emerging from Europe’s financial crisis, make room for a new one: the “Entente Cordiale” between Britain and France. A week after British Prime Minister David Cameron refused
      PHOTO: REUTERS  -  843 words
    • 454 15 Martin Marietta says Vulcan’s statements are simply inaccurate Bloomberg [WASHINGTON] Martin Marietta Materials Inc said that its position on a potential takeover of Vulcan Materials Co was “seriously” mischaracterised in court papers filed by Vulcan. In a letter to Vulcan’s board on Saturday, Martin
      Bloomberg  -  454 words
    • 481 15 Bloomberg [SYDNEY] Prime Minister Julia Gillard said she’s the best person to lead Australia’s Labor Party to the next election in 2013 as speculation increased over a challenge to her leadership after she changed her Cabinet. Ms Gillard last week
      Bloomberg  -  481 words
    • 728 17 Money held to be given to customers whose funds have gone missing Reuters [CHICAGO] CME Group Inc, which has given US$22 million to Chicago-area schools and charities over the past five years, has stopped making grants through its main foundation, citing
      Reuters  -  728 words
    • 362 17 Reuters Bloomberg [LONDON] The British government will give its full backing to a shake-up of the banking sector proposed by the country’s Independent Commission on Banking (ICB), British Business Secretary Vince Cable said yesterday. “Our own financial services sector needs reform. Our
      Reuters; Bloomberg; REUTERS  -  362 words
    • 942 17 AFP [TOKYO] The world’s thirdlargest economy might not seem the obvious place to find the need for microfinancing, but for businesses in tsunami-ravaged northeast Japan, it could be the key to revival. Music Securities, a brokerage more used to raising cash for
      AFP  -  942 words
    • 522 17 AFP [BERLIN] Just when she should be devoting all her energy to saving the euro, German Chancellor Angela Merkel is beset by political turbulence at home, in particular a crisis within her coalition allies. Junior partners in Ms Merkel’s two-year centre-right coalition,
      AFP  -  522 words
    • 557 18 More austerity steps may be necessary given a weakening economic outlook: economists Reuters [BRUSSELS] The downgrade of Belgium’s credit rating by agency Moody’s underlines the need to cut the budget deficit next year to 2.8 per cent of gross domestic product as agreed by
      Reuters  -  557 words
    • 735 18 AFP [AYUTTHAYA] Piles of rubbish, rusting furniture and discarded machinery litter one of Thailand’s top hightech parks, a former symbol of economic prowess laid to waste by weeks of flooding. Many of the companies located in the country’s industrial heartland say it will
      AFP  -  735 words
    • 290 18 Bank firesale poor value for money for taxpayer: Labour Reuters [LONDON] Britain’s National Audit Office (NAO) is to probe the sale of nationalised bank Northern Rock to Virgin Money, the opposition Labour Party said, after the terms of the deal meant
      Reuters  -  290 words
    • 870 18 Bloomberg [WASHINGTON] Consumer spending probably climbed last month as Americans flocked to car dealer showrooms and shopped for holiday bargains, giving the US economy a boost heading into 2012, economists said before a report this week. Purchases rose 0.3 per
      Bloomberg  -  870 words


  • Page 16 Advertisements
    • 227 16 RAFFLES CONVERSATIONS 2 0 11 EDITI O N The diverse experiences of some of the most influential thinkers, corporate chiefs and social activists of the age THOMAS ARASI “Once a property such as this (Marina Bay Sands) opens, we hope we won’t close for the next 200 years. We are
      227 words

  • Page 17 Advertisements
    • 284 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TELSIS PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****3483M Extract of the Minutes of an Extraordinary General Meeting of TELSIS PTE LTD signed by the Representative of the Holding Company pursuanttoSection179(6)oftheCompaniesAct, Cap50on9December2011,theResolutionsset out below
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    • 76 17 HOW TO LEAVI WORI ON Til (and still get 'I everything done!) J Are you and your man FINANCIAL' SOULMATES? Overcome your differences and make your love last THE INSIDER'S GUIDE TO SCORING THE BEST BEAUTY BUYS ONLINE You can be one of them! Turn to p86 but to let
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  • Page 18 Advertisements
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    • 8 18 Will foreignbuyersbe deterred bythelatest property cooling measures? Tosubscribe,call6388-3838orgotosphsubscription.com.sg
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  • FOCUS: NEW ZEALAND
    • 1583 19  -  That it’s low-key, unsung, obscure and not much talked about despite the All-Blacks, its king salmon and screwcap wine bottles. JOYCE HOOI reports JOYCE HOOI MENTIONNewZealand in the context of business and the country’s name is lobbed back at you by the listener, this time with
      1,583 words
  • Page 19 Advertisements
    • 55 19 T o n__» o ij 5 <« s u o &-gj3££~ 3 c5U a> C (/j D D :> o .:r. eable que dans !es restaurant spa ux oa r-fc.3 fc>lGS nt \/I_is r? <r o A M< 03 IQ'w^ £aO 1 X From b^ aWn9 s^Tu^ S f t
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  • AVIATION/SHIPPING
    • 462 20 Both boast superior efficiency of their respective jets 737 MAX and a320neo Reuters [CHICAGO] Boeing Co started a year later than its European rival Airbus in a race to overhaul the US$2 trillion narrowbody aircraft market, and is fighting hard to
      Reuters  -  462 words
    • 278 20 SGX '000 Dec 16 S$ +/-Vol CH Offshore 0.35 -0.01 70 Chuan Hup Hldg unch unch 0 Cosco Corp 0.87 0.01 2121 CWT Ltd 1.02 0.03 25 Ezra Hldgs 0.86 unch 1253 First Ship Lea 0.28 -0.01 1789 Freight Links 0.06 unch 1347 Grand Banks unch unch 0
      278 words
    • 249 20 [MADRID] Spanish airline Iberia has cancelled a third of its flights because of a strike by pilots fearing job losses when company planes are diverted for use by Iberia’s new budget carrier. Iberia said it scrapped 91 flights yesterday, mostly domestic routes. Another
      REUTERS  -  249 words
    • 376 20 Reuters [MOSCOW] An oil drilling rig with 67 crew on board capsized and sank off the Russian Far East island of Sakhalin yesterday when it ran into a storm while being towed, leaving 49 of the crew unaccounted for, the regional Emergencies
      Reuters  -  376 words
  • Page 20 Advertisements
    • 213 20 Wine, Dine 8c Hospital •V V, ..'.'C WAY s R In i BRING ON THE HOLIDAY CHEER WITH FESTIVE OFFERINGS AT MANDARIN ORCHARD SINGAPORE! triple HERALDING CHRISTMAS three Choose from the selection of festive goodies that will set the sweet tone for Christmas. Look forward to all-time-favourites such as Salmon
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  • Page 20 Miscellaneous
    • 285 20 CRYPTIC CROSSWORD Across 5 Dismiss member with pistol, say (7) 7 Disdainfully refuse second cereal (5) 9 Disturbance caused by strange tailless cat (6) 10 Take out US mag to do something whilst waiting (4,4) 11 Be grateful for rise (10) 13 Reckless collision, not chauffeur’s first (4) 14 Currant
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  • DINING OUT
    • 800 21  -  A tapas bar by name, Esquina is more a Spanish-inspired version of Atherton’s own style of modern European cuisine, says JAIME EE NEW RESTAURANT Esquina 16 Jiak Chuan Road Tel: 6222 1616 A TASTE of the hip London dining scene has hit Chinatown, thanks to chef-of-the-moment
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    • 737 21  -  By Jaime Ee NEW RESTAURANT Magosaburou #04-11 A/05-01 Ion Orchard 2 Orchard Turn Tel: 6634 1411 WHEN it comes to Japanese shabu shabu or yakiniku (barbecue) the two things that make or break it are the quality of the meat and the sauce
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  • Page 21 Advertisements
    • 103 21 Wine, Dine Hospitality Highlights a 1 i# PHB 4 vExperience the True Magic of Christmas This Christmas, embark on an epicurean journey at Fairmont Singapore and Swissotel The Stamford where there are 16 great places to wine, dine and be merry. From exquisite selection of specially-crafted lunch and dinner menus,
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  • SINGAPORE STOCKS
    • 8382 22 Week ended: Dec 16 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 11.6 8Telecom 15.5 6 14.5 7.8 3.9 3.2 74.2 9.5 4.1 A-Sonic 4.5 -0.1 300 4.8 4.5 4.4 5 2.9
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    • 1685 23 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 12.6 +0.2 120 12.6 12.5 12.4 13 4.7 4.4 4.9 22.5 5.5 2.5 t AA Grp 3.3 2.6 3.1
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    • 117 23 Stock name Close Change CapMallsAsia 1.185 +0.020 CapitaLand 2.300 +0.020 CapitaMall 1.710 +0.045 CityDev 8.930 -0.030 ComfortDelGro 1.410 +0.005 DBS Grp 11.640 +0.080 F&N 6.140 +0.110 GLP 1.650 +0.030 Genting SP 1.515 +0.025 Golden Agri 0.705 Stock name Close Change HK Land 4.580 -0.050 JMH 46.090
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    • 2610 23 Transaction date: Dec 16 HONG KONG Vol HK$ +/-'000 Aeon Credit 5.50 unch 0 Aeon Stores 17.50 unch 0 Angang Steel 5.38 0.28 ***** Anhui Conch 23.35 0.90 ***** Anhuiexpresswa 4.15 -0.07 841 Asia Satellite 16.00 0.20 31 Asm Pacific 87.25 1.30 393 Bank Of E Asia 27.10
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    • 255 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 55.5 34 AVJennings A34 35 38.5 3.6 10.3 2.7 88.5 49 25.5 Genting HK US$ US27 -0.5 ***** 28 26.5 26.5 27 1777.8 15 10 OGL Resources
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    • 186 23 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 11 1 0 0 0 4 11 1 Manufacturing 62 93 30 12 5 10 74 98 40 Commerce 19 38 17 3 4 6 22 42 23 Tpt/Stor/Comms 14 24 8
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    • 1011 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 122.9 +6.6 52 122.9 116 114 118 561 1261 856 CIMBAsean40 100US$ US948 -1 85 949 926 942 948 37.9
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    • 123 23 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 100,214 100,214 267,986 267,986 Manufacturing 622,144 352,201 974,345 561,710 5,397 567,107 Commerce 330,715 11,311 342,026 559,961 1,460 561,421 Tpt/Stor/Comms 412,245 66,287 478,532 772,558 7,462 780,020 Finance 90,463 40 90,503 852,479 7 852,486 Construction 244,229 57,122
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  • Page 23 Advertisements
    • 26 23 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
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  • FINANCE & COMMODITIES
    • 373 24 In local curr In S$ In US$ dy yr dy yr dy yr Dec 16 Index Change Change Change Change Change Change World Preliminary 807.9 0.3 -10.0 0.1 -8.7 0.5 -10.3 EAFE Preliminary 664.3 -0.2 -17.1 -0.3 -15.9 0.2 -17.3 Europe Preliminary 984.5 -0.5 -15.8
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    • 77 24 CRUDE OIL PRODUCTS Dec 15 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 104.37 -1.13 WTI (Near Mth) 93.60 -1.37 Dubai (1-Mth F) 102.26 -2.79 Tapis blend 112.71 -2.69 Minas 110.61 -2.69 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 97.00 -2.17 Jet Kerosene 120.49 -3.29 US$/barrel Opec Oil
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    • 107 24 Dec 16 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 12 1130.00 1111.75 1132.00 1111.50 Mar 12 1139.50 1121.25 1142.00 1121.00 May 12 1150.25 1131.75 1151.50 1132.25 Jul 12 1159.75 1142.25 1160.50 1142.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 12 49.55
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    • 79 24 Dec 16 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****E 15.03.2012 0.35 1-Year BY*****W 01.11.2012 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 102.95 102.99 102.98 5-Year N*****0W 1.125 01.04.2016 102.15 10-Year NX*****X
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    • 451 24 Dec 16 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec11 99.4350 0 3276 Mar12 99.3400 0 3050 Jun12 99.2900 0 804 Sep12 99.2800 0 351 EUROYEN TIBOR FUTURES Dec11 99.6700 99.6700 99.6700 99.6700 0 4621 Mar12 99.6625 0 2094 Jun12 99.6650 0 1440 Sep12 99.6600 0
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    • 114 24 As on 16 December 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METALS GOLD FUT FEB2012 1601.50 1578.90 1597.70 119 CURRENCY AUD-USD FUT MAR2012 .9913 .9837 .9862 2194 EUR-USD FUT MAR2012 1.3095 1.3007 1.3029 7452 USD-JPY FUT MAR2012 77.75 77.49 77.67 3476 BASE METAL
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    • 154 24 Dec 17 SICOM RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 12 336.0 330.0 335.9 32 298 Feb 12 340.0 334.2 340.0 8 217 Mar 12 343.1 340.0 344.0 12 320 Apr 12 351.4 129 May 12 353.0
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    • 71 24 Dec 16 Dec 16 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1996.00 1972.50 3 months 2004.00 1975.00 Copper, Grade A (US$/tonne) Cash 7328.75 7192.00 3 months 7345.00 7211.00 Lead (US$/tonne) Cash 1944.25 1961.00 3 months 1960.00 1975.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 82 24 Dec 16 COCOA (£/tonne) Close Prev High/Low Mar 12 1369 1394 1407/1364 May 12 1387 1412 1425/1382 Jul 12 1404 1437 1442/1401 Sep 12 1418 1452 1458/1415 COFFEE (US$/tonne) Close Prev High/Low Jan 12 1853 1861 1874/1846 Mar 12 1897 1902 1915/1890 May 12 1931 1936 1950/1925 Jul 12
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    • 24 24 Dec 16 Open High Sett STI Dec 2653 SIMSCI Dec 299.0 304.2 302.6 Taiwan Dec 241.8 243.9 242.8 Source: SGX Derivatives
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    • 2204 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 55 49.00 29 ASJ Hldgs W*****1 0.1 1 4 24 33.00 2 AlliedTech W*****2 1.7 1 4 23 Aztech Grp W*****3 0.2 1 20 132
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    • 464 24 Dec 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.030 6.334 0.767 7.766 52.797 90.473 0.778 11.564 3.172 1.314 89.345 43.745 1.302 8.357 0.939 30.301 31.289 0.644 0.998 Canada 0.971 6.148
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    • 82 24 Dec 16 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 140 24 Dec 16 GOLD (US$/oz) Dec 16 Dec 15 Hong Kong 1599.00 1594.00 Dec 15 Dec 16 London 1570.09 1593.56 1570.90 1594.33 Source: Thomson Reuters CAST BAR Dec 16 (S$) Selling Buying Kilobar 71,422.50 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 160 67 5gm 454 333 10gm 811
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    • 57 24 Dec 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 12 3001.0 2986.0 3009.0 2980.0 208 5446 Feb 12 2990.0 2985.0 3016.0 2978.0 4276 ***** Mar 12 2991.0 2984.0 3015.0 2977.0 ***** ***** Apr 12 2999.0 2984.0
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    • 22 24 Dec 16 S$ Bid Offer 1-month 1.3045 1.3051 2-months 1.3045 1.3051 3-months 1.3043 1.3049 6-months 1.3027 1.3036 Source: OCBC
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    • 154 24 Dec 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3015 1.3027 0.9978 0.9983 Canadian dollar 1.2632 1.2643 0.9684 0.9689 Euro 1.6973 1.6981 1.3012 1.3013 NZ dollar 0.9908 0.9917 0.7596 0.7600 Sterling pound 2.0227 2.0236 1.5507 1.5508
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    • 121 24 As at 9am Dec 16 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.328 1.265 Can dollar 1.287 1.238 Euro 1.732 1.666 Sterling pound 2.064 1.985 NZ dollar 1.016 0.968 US dollar 1.326 1.275 Local dollars to 100 units of foreign
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    • 154 24 Dec 16 $S Offer Bid 0vernight 0.02 par 1-month 5/16 3/16 2-months 5/16 3/16 3-months 5/16 3/16 Overnight mode: 0.02 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.55 0.35 3 months 0.70 0.50 6 months 0.90 0.70 9 months 1.10 0.90 12
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  • 4610 25 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
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  • Page 25 Advertisements
    • 26 25 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? To All Shipping Advertisers: Please call Joe Wong at 9620 1327
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  • Page 26 Advertisements
    • 33 26 Shipping lines seeking reliable logistics partners R rgently n cl cl by snipp rs n they -Find youi re in -the Shippii servio ig Time THE BUSINESS TIMES SHIPPING TIMES HIGHLY VISIBLE RESULTS
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 787 28  -  Its CEO says as the firm grows up, staying innovative will be one of its key challenges, reports VICTORIA HO WHAT does a former attack-heli-copter pilot has to do with running a network firewall company? Military-honed principles that taught him how to focus
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    • 341 28  -  By PANG JIN HU THEY may be one of the most popular daily deal sites in the world, but Singaporeans have only just started taking a stronger interest in them. According to search giant Google, Groupon is the fastest rising query in
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    • 525 27  -  22 apps scrapped for having a virus that tricks users into sending text messages to premium-rate phone lines By VICTORIA VICTORIA HO THE hysteria over Android’s security holes has been mounting over the past few months and now made worse by Google removing 22
      525 words
    • 824 27 Rigid pricing, limited models hold back market share gains Reuters [HONG KONG] Apple Inc’s share of China’s booming smartphone market has risen sharply in the past two years, but for now the company that sells the iconic iPhone is
      Reuters; REUTERS  -  824 words
    • 426 27 NYT [NEW YORK] Zynga, the online gaming company, kicked off its first day of trading with the usual fanfare. At the San Francisco headquarters, founder Mark Pincus rang the opening bell, flanked by Nasdaq chief Robert Greifeld. Before a packed room of employees and investors,
      NYT  -  426 words
    • 775 27  -  Businesses must adapt to the convergence of multiple channels of communications <yousay> By STEPHEN YEO The writer is is the CEO ofBT Southeast Asia JONATHAN Wong, a trader based in Singapore, strides across the trading floor with a microphone tucked neatly into his ear
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    • <what’s up>
      • 47 27 HUAWEI has launched its Vision and Honor smartphones, both based on Android. The Vision has a 3.7” touchscreen and is priced at $438. The Honor has a 1,900 mAh battery for longer operating life, and has a 4” screen. It is priced at $528.
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      • 47 27 JOB site Monster Singapore has launched a Facebook application that will allow users of the social network to connect with other professionals. Called BeKnown, it is touted to allow users to create professional networks within Facebook and separate personal activity from their work identities.
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      • 29 27 HONG Kong audio maker ITOK has released its Trends Audio-branded speakers. The SA-10 model is to be paired with hi-fi systems, and is priced at US$265.
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      • 50 27  -  Compiled by Victoria Ho DELL has released its Alienware Aurora gaming desktop. The PC maker said it is the company’s most advanced desktop, coming with a second-generation Intel i7 six-core chip. The system is liquid-cooled and comes with dual graphics cards. It is priced at $3,499.
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  • Page 28 Advertisements
    • 109 28 TREND MICRO IS #1 IN SERVER SECURITY, WORLDWIDE PHYSICAL OR VIRTUAL* PHYSICAL. VIRTUAL. CLOUD. BRIDGE YOUR DATACENTER TRANSFORMATION SECURELY WITH TREND MICRO As datacenters transform from physical to virtual, and eventually into the cloud, gaps in datacenter security widen. As virtual machines overtake physical hosts and sensitive data moves into
      109 words