The Business Times, 10 January 2012

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Tuesday, January 10, 2012
    25 words
  • 891 1  -  MRT committee of inquiry will hold public hearings; CID to help with investigations By JOYCE HOOI [SINGAPORE] Following the December train service disruptions that affected more than 200,000 commuters, the committee of inquiry (COI) will hold public hearings and put out findings that
    891 words
  • MARKETS DIGEST
    • 110 1 HST INDEX 2,691.28 (-24.31) HST INDEX FUTURES 2,691.00 (-24.00) HSIMSCI 305.92 (-2.67) HSIMSCI FUTURES 305.70 (-2.70) US$ S$ US$ (S$ per US$) 1.298 (US$/S$ per 1.543 2.003 EURO (US$/S$/E) 1.274 1.654 Foreign currency per US$ S$ YEN 76.90 59.20 RM 3.155 2.430 HK$ 7.765 5.981 BAHT 31.81 24.50 RUPIAH
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    • 17 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.785 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
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  • 755 1  -  Major implications as court throws out sodomy case By S JAYASANKARAN By in Kuala Lumpur TEN minutes after the hearing began, on a cool and rainy morning at the Duta Court Complex in Kuala Lumpur, opposition leader Anwar Ibrahim walked out a
    REUTERS  -  755 words
  • Page 1 Advertisements
    • 105 1 NEWS ANALYSIS All eyes on GLS tenders for condo plots PAGE 2 EN BLOC Slew of collective sales hits the market PAGE 11 OLYMPUS SAGA Lessons in corporate reform I PAGE 20 ULYSSE NARDIN Since 1846 Le Locle Suisse Freak Diavolo Flying Carrousel-Tourbillon with second FLYING TOURBILLON. 8-DAY POWER RESERVE.
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    • 26 1 AVIATION HK Airlines to delay IPO over market conditions PAGE 22 Stamford Canal to be expanded, Page 4 Insights into SMRT operations, Page 4 *****1 *****4
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    • 9 1 SME Inc A healthy appetite for success PAGE 12
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 52 2 FOLLOWING the December train service disruptions that affected more than 200,000 commuters, the committee of inquiry will hold public hearings and put out findings that will be used to review the regulatory and penalty framework, Transport Minister Lui Tuck Yew told Members of
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      • 54 2 AS the first Government Land Sales tender for a leasehold private condo plot for 2012 closes today for a site at Mount Vernon near Bartley MRT Station, expectations are running high that the cautious bidding seen during the last state tender closing
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      • 69 2 MARKET uncertainty in the first quarter of this year could give way to more favourable conditions, with the European Central Bank expected to be more accommodative in its dealing of the eurozone crisis, said senior DBS analysts at a briefing yesterday. DBS expects the Straits
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      • 35 2 EU Yan Sang International sits on a short-list of potential buyers for bankrupt Australian health products retailer Healthzone, Eu Yan Sang chief executive Richard Eu told BT yesterday.
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      • 37 2 A MEGA RM30.6 billion (S$12.6 billion) sukuk issuance by highway operator Projek Lebuhraya Usahasama Bhd, or PLUS, this week will boost Malaysia’s Islamic finance credentials despite the aggregation exercise behind it.
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      • 59 2 BRITISH financial firms plan to shed jobs at a faster pace after the escalating eurozone sovereign debt crisis dented their confidence during the final three months of 2011, according to a survey published yesterday. The finance sector’s planned retrenchment comes despite faster-than-expected
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    • 1073 2  -  Developers will be cautious but remain fleet-footed if sentiment improves By KALPANA RASHIWALA [SINGAPORE] As the first Government Land Sales (GLS) tender for a 99-year leasehold private condo plot for 2012 closes today for a site at Mount Vernon Road near Bartley
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    • 712 4  -  PUB may also build canal to S’pore River or keep storm water in upstream section By CHUANG PECK MING [SINGAPORE] Stamford Canal will have to be expanded by at least a third to reduce the risk of flooding along Orchard Road. “PUB is
      712 words
    • 598 4  -  By JOYCE HOOI [SINGAPORE] Some of the inner workings of SMRT’s operations came under scrutiny in parliament yesterday as Transport Minister Lui Tuck Yew responded to queries from Members of Parliament about the causes and aftermath of the December train service disruptions. Aljunied GRC
      598 words
    • 689 4  -  RBS sued by former senior manager in S’pore High Court By GRACE LEONG [SINGAPORE] A lawsuit brought against the Royal Bank of Scotland (RBS) by its former senior manager in Singapore could prove to be more complicated than a simple case of wrongful termination,
      689 words
    • 407 4  -  Japan sees some of the sharpest rate hikes in Q4 last year By EMILYN YAP [SINGAPORE] Insurers, rocked by record losses from natural calamities, raised property catastrophe insurance rates for affected countries in the fourth quarter last year, said
      AFP  -  407 words
  • Page 2 Advertisements
    • 525 2 FRONT PAGE TOP STORIES, PAGE 2 COMPANY NEWS, PAGE 6 COMPANY NEWS, PAGE 9 MALAYSIA/INDONESIA, PAGE 16 WORLD, PAGE 18 Structured Investment Products Building products with risks and returns in mind Date 23 24 February 2012 Time 9.00am to 5.00pm Venue Orchard Hotel Singapore Seminar Fees Client S$918 per participant
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    • 201 2 What makes an MBA program "Executive"? We believe it's about experience. Behind the Rutgers Executive MBA program stands the experience and global reputation of Rutgers University, the 8th oldest university in the United States. Our professors are both highly regarded academics and global industry experts who bring their real-world business
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  • Page 3 Advertisements
    • 100 3 www.landrover.com.sg ITS MAJESTY AND POWER ARE LEGENDARY. NEW RANGE ROVER SPORT NOW COMES WITH: ADAPTIVE DYNAMICS FACTORY-FITTED GPS 3-YEAR FREE MAINTENANCE i mm fj w. ,'H| :r > W ‘frweS^UfJr*** m -r r* /v /x O i s# *W«(> a i I *3 asSttteteT :r_- ---rSSBS Lad s:^5 NEW RANGE
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  • COMPANY NEWS
    • 492 6  -  STI could crawl back to 3,000 mark by year-end as debt situation improves By JASMINE NG MARKET uncertainty in the first quarter of this year could give way to more favourable conditions, with the European Central Bank (ECB) expected to
      FILE PHOTO  -  492 words
    • 808 6  -  HOCK LOCK SIEW By KENNETH LIM THE market’s indifference to Standard Poor’s recent decision to drop coverage of Cheung Kong Holdings is the latest smudge on the shine of credit ratings. But while it may be tempting to jump on the
      808 words
    • 431 9  -  It is likely to target Healthzone’s distribution business: analyst By KENNETH LIM EU Yan Sang International sits on a short-list of potential buyers for bankrupt Australian health products retailer Healthzone, Eu Yan Sang chief executive Richard Eu told BT yesterday. While declining
      431 words
    • 428 9 Reuters [LONDON] Vodafone, the world’s largest mobile operator in terms of revenue, outlined yesterday plans to expand into fast-growing markets in Asia and South America through new partnerships to support international customers. Britain’s Vodafone, which has recently completed a scaling-back of its portfolio
      Reuters  -  428 words
    • 312 9  -  By LYNN KAN KEPPEL Offshore and Marine’s subsidiary in the United States bagged a US$150 million (S$195 million) contract to start the year off. Keppel AmFels LLC’s Brownsville, Texas yard will build and upgrade a moored semisubmersible rig for a long-time customer, Diamond
      312 words
    • 318 10  -  This raises its construction business order book to above $467m By EDWIN LOH KSH Holdings has secured a $110.28 million condominium contract, raising its construction business order book to above $467 million. The 30-month contract was awarded by Precious Sand Pte Ltd, a joint
      318 words
    • 245 10  -  By LYNN KAN EZRA Holdings’ subsea unit, EMAS AMC, has won two contracts from Statoil, worth about 450 million krone (S$97 million). The deals are worth up to 600 million krone if options to expand the work to more floating platforms are
      245 words
    • 331 10 Reuters [LONDON] Struggling British entertainment retailer HMV got a little respite over Christmas as sales declines slowed, providing a glimmer of hope that the firm may have a future. The group, which last month posted wider first-half losses, said it was in
      Reuters  -  331 words
    • 249 10 Reuters [SHANGHAI] Chinese miner Yanzhou Coal Mining Co’s A$2 billion (S$2.65 billion) bid to take over Australia’s Gloucester Coal has a big chance of success, financial adviser UBS said yesterday. “We feel that Gloucester is already a listed company and
      Reuters  -  249 words
    • COMPANY BRIEFS
      • 47 10 OVERSEA-CHINESE Banking Corp (OCBC) has appointed Government of Singapore Investment Corp (GIC) veteran Quah Wee Ghee as a non-executive and independent director. Mr Quah currently leads the sovereign wealth fund’s India group. He is also an independent director of Singapore Exchange.
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      • 55 10 SYNEAR Food Holdings said it expects to report a loss for its fourth quarter ended Dec 31, 2011 compared to the same period a year ago due to adverse publicity concerning a batch of its products. However, the firm expects its performance for the
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      • 47 10 A SINGAPORE Power unit in Australia has taken a A$200 million (S$265.3 million) five-year floating-rate loan, according to Bloomberg, citing a source. SPI (Australia) Assets Pty will pay 150 to 200 basis points over benchmark rates on the loan, Bloomberg reported.
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      • 87 10 Bloomberg IPAC Wealth Management Asia, a financial advisory unit of AXA SA, will close its Hong Kong and Singapore offices in the first half of the year after a review by its Paris-based parent, said chief executive Gary Harvey. The two offices, which
        Bloomberg  -  87 words
      • 69 10 ASIA Silk Holdings said it is now a cash company following the completion of the sale of Wuxi Dingqiu Silk Co. The company will put about $1.8 million, or more than 90 per cent of its cash, in an escrow account. Asia Silk
        69 words
    • 927 10 Bloomberg [SAN FRANCISCO] Instead of running auctions for artillery shells, harpoons and zen gardening kits, a faster way for EBay Inc to enrich its owners would be to split off PayPal. Since John Donahoe succeeded Meg Whitman as EBay’s chief executive
      Bloomberg; AFP  -  927 words
  • Page 6 Advertisements
    • 2063 6 the business timesweek nd www. usinesstimes.com. g| 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 rates DBS Bank, OCBC Bank and UOB will offer a mere 0.05 per cent come October, even as HSBC and Stanchart dish
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  • Page 7 Advertisements
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  • SINGAPORE MARKETS
    • 524 8  -  Index ends day at 2,691.28, for a 24.31 points loss; this marks a crucial break below key 2,700 support STOCKS VEN SREENIVASAN Senior Correspondent THE absence of leads, lack of conviction about the underlying strength of the US jobs market and continuing concerns
      Source: Bloomberg  -  524 words
    • 4 8 DAILY
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    • 66 8 Jan 9 VALUE CLOSE BT OB/OS 314.00 -41.00 BT CADI -*****.00 -73.00 BT 10-day MA -*****.00 +32.00 FTSE ST Mid Cap 606.30 +0.85 FTSE ST Small Cap 405.79 -0.87 FTSE ST All Share 647.64 -4.50 FTSE ST China Top 194.37 -0.70 FTSE ST China 227.93 -1.45 FTSE
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 4 0 0 0 5 6 4 Manufacturing 43 58 27 4 6 4 47 64 31 Commerce 14 22 11 0 4 4 14 26 15 Tpt/Stor/Comms 11 19 8
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    • BROKERS' TAKE
      • 299 8 Jan 9 close: 83.5¢ OCBC INVESTMENT RESEARCH, Jan 9 MANAGEMENT optimistic about prospects: We caught up with Tat Hong Holdings’ management recently for an update. The group is seeing some improvements in its Australian business and remains optimistic that it will do better during this financial year
        Source: Bloomberg  -  299 words
      • 350 8  -  Compiled by JOYCE HOOI Jan 9 close: $3.98 DMG PARTNERS RESEARCH, Jan 9 WE hosted Sembcorp Marine’s chief financial officer (CFO) Tan Cheng Tat and senior vice-presi-dent (SVP) for investor relations and communications Judy Han for the OSK|DMG Asean Corporate Day in Singapore. Management was particularly upbeat on
        Source: Bloomberg  -  350 words
      • 132 8 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first, second, or third quarter
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    • 120 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 7,623 7,623 37,425 37,425 Manufacturing 234,295 16,247 250,542 88,356 196 88,553 Commerce 132,972 4,374 137,346 146,965 403 147,368 Tpt/Stor/Comms 68,458 12,751 81,209 121,193 1,792 122,984 Finance 9,991 100 10,091 107,299 20 107,318 Construction 12,801 1,207
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    • 112 8 Stock name Close Change Stock name Close Change CapMallsAsia 1.135 -0.020 CapitaLand 2.260 -0.020 CapitaMall 1.710 -0.050 CityDev 9.050 -0.020 ComfortDelGro 1.435 +0.005 DBS Grp 11.760 -0.100 F&N 6.310 -0.040 GLP 1.765 -0.035 Genting SP 1.530 -0.035 Golden Agri 0.730 -0.005 HK Land 4.830 -0.070 JMH
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    • 496 8 CURRENCIES Bloomberg [SINGAPORE] Asian currencies weakened, led by Indonesia’s rupiah and Malaysia’s ringgit, as concern Europe’s debt crisis will worsen prompted investors to favour assets perceived safer than those in emerging markets. The Bloomberg-JPMorgan Asia Dollar Index fell for a fourth day before German
      Bloomberg; BLOOMBERG FILE PHOTO  -  496 words
    • 57 8 VOLUME Scintronix 142,568,000 SingXpress 84,850,000 Noble Grp 82,898,000 Golden Agri 77,285,000 Genting SP 42,919,000 GMG Global 41,270,000 SingTel 22,498,000 Yoma 21,654,000 Artivision 14,662,000 HPH Trust US$ 14,478,000 VALUE($) Noble Grp 90,781,252 SingTel 70,044,930 Genting SP 65,961,420 UOB 59,426,710 Golden Agri 57,291,395 DBS Grp 25,635,880 Keppel Corp 23,884,020
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    • 116 8 BY CENTS CLOSE UP DBXT CSI300 10US$ 803 49.3 5.0 DBXT FTVietnam 10US$ 1764 41.5 1.8 DBXT FTChina25 10US$ 2661 31.2 0.9 DBXT MSKorea 10US$ 5106 28.6 0.4 Lyxor India Nifty 10 1180 26.0 2.3 DBXT MSCHINA 10US$ 1037 15.6 1.2 DBS Bk 4.7% NCPS 100 ***** 10.0 0.1
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    • 116 8 BY CENTS CLOSE DOWN JMH 4822 -81.8 -1.3 Jardine C&C 4942 -58.0 -1.2 DBXT MSAsExJp 10US$ 2745 -29.9 -0.8 UOB 1516 -25.0 -1.6 Great Eastern 1260 -24.0 -1.9 GLD 10US$ ***** -23.4 -0.1 UOB.ES.1201 1520 -23.0 -1.5 JSH 2968 -22.1 -0.6 Lyxor China H 10US$ 1250 -20.8 -1.3 OCBC
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    • 5 8 DAILY
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  • Page 9 Advertisements
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  • Page 10 Advertisements
    • 77 10 How to run a business without running out of ideas Produced by SME Jan/Feb issue out now! Why some fresh graduates choose to work in SMEs Five expensive mistakes to avoid How to measure productivity Is Japan still worth the while? Stock options for SMEs Available at Caltex, Esso, Shell
      77 words

  • SINGAPORE NEWS
    • 356 11  -  By EDWIN LOH SINGAPORE company Wilmax Group has been bought over by the Dutch firm Doedijns International BV for a substantial, but undisclosed, amount. Wilmax, which provides control automation and process packages for the oil, gas and petrochemical industries, posted an average annual
      356 words
    • 315 11  -  By EVE YEO SINGAPOREANS shopped up a storm both online and on their mobile devices during the recent Christmas period, according to a series of studies by global e-commerce firm PayPal. Compared to statistics for the same period in 2010, the
      315 words
    • 594 11  -  Region’s growth likely to moderate from 7.5% last year to 6.6%: Nomura By TEH SHI NING THIS year will again be a year of two halves for Asian economies, which ought to prepare for the V-shaped growth path they are set to
      594 words
    • 538 11  -  By MINDY TAN TWO freehold developments Royalville and Ming Arcade have been put up for collective sale by tender for a second time, with a reduced asking price. Royalville, a residential site located on Bukit Timah Road, is back on the market, with
      538 words
    • 265 11  -  By FELDA CHAY CURBS may have been put in place to slow demand for properties here, but at least one developer continues to see strong interest for its projects. City Developments Ltd (CDL) said it received over 800 e-applications for
      265 words
    • 424 11  -  By MINDY TAN MORE than 95 per cent of Singapore permanent resident (PR) households who own HDB flats are owneroccupants, according to figures released by the Ministry of National Development (MND). This figure was made known in Parliament yesterday after Member
      424 words
  • Page 11 Advertisements
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  • SMEInc
    • 1070 12  -  JR Foodstuff is planning to take its packaged meals to the Chinese market, reports TAM YU LING TAM YU LING ONE might be fooled into thinking that Jocelyn Chng, always immaculately attired, is just another tai-tai but nothing could be further from the truth. Ms
      YEN MENG JIIN  -  1,070 words
    • 993 12  -  Pro-Pack has diversified and added a new subsidiary, reportsJASLENE JASLENE PANG Succession planning is an issue that keeps many heads of SMEs awake at night. Taking over a business in the midst of the global financial crisis of *****009 could prove to
      YEN MENG JIIN  -  993 words
    • 438 13  -  Management trainee finds working for Select Group a good learning ground By SHEERE NG MAY Lee had a good feeling about Select Group the moment she found out that the man conducting the job interview was the company’s managing director himself. At
      438 words
    • 116 13 HAVE a pressing question about a business related issue that your company is facing? Starting Jan 17, we will be working with professors from the Singapore Management University (SMU) to provide expert advice and answers to your queries on a fortnightly basis. All you
      116 words
    • 1233 14  -  The transition is slow, but start-up Appio Labs sees growth potential in the sector, reportNG NG JIE HUI SHERMAN TAN WITH more than 10 years’ experience in outsourcing and IT services under his belt, it seemed like a natural progression for Sachin Goklaney to start a
      ARTHUR LEE  -  1,233 words

  • Page 13 Advertisements
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    • 320 13 For the rest of the story, get the latest copy of The SME Magazine, which will look into the considerations of young talents when they choose to go down the path less travelled by working in an SME. Also, find out how angel investor Leslie Loh makes his assessment on
      320 words

  • Page 14 Advertisements
    • 623 14 In the Matter of the Companies Act, Cap. 50 And In the Matter of Fusion Garage Pte. Ltd. CO. REG. NO. *****1933E NOTICE PURSUANT TO SECTION 291(1) STATUTORY DECLARATION BY DIRECTORS OF COMPANY’S INABILITY TO CONTINUE BUSINESS BY REASON OF ITS LIABILITIES. I, Chandrasekar s/o Rathakrishnan of 501 Pasir Panjang
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    • 527 14 I Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices BSAT3 i NOTICES <i WATS NOTICES I IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF NOVAS SOLUTIONS (S) PTE. LTD. Incorporated in the Republic of Singapore
      527 words
    • 12 14 Head to CATS FASTADS in The New Paper for education options! WATS)
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    • 216 14 RAFFLES CONVERSATIONS 2011 EDITION The diverse experiences of some of the most influential thinkers, corporate chiefs and social activists of the age MARC BENIOFF “We have always believed that everything was going into the cloud, because it was a model that allowed everyone to succeed.” SHIRISH APTE “Consumer banking is
      216 words

  • ECONOMY WATCH
    • 633 15 Lenders can tap into safety buffers in times of stress, they say Reuters [LONDON] Global regulators vowed on Sunday to press ahead with tough new liquidity rules for banks from 2015, but in a move to head off opposition from industry, also
      Reuters; AP  -  633 words
    • 622 15 They may roll over debt if pricing stays at current levels Bloomberg [DUBAI] Banks in the United Arab Emirates may opt to refinance more than US$3 billion of bonds due this year should pricing remain at current levels, as they seek to extend
      Bloomberg  -  622 words
  • Page 15 Advertisements
    • 146 15 Only UB can bring you the benefits that come from being Singapore’s First Executive MBA The University at Buffalo School of Management established the first Executive MBA program in Singapore in 1996 in partnership with the Singapore Institute of Management. Since then, we’ve been evolving our top-ranked program to provide
      146 words

  • MALAYSIA/INDONESIA
    • 380 16  -  Boost for Malaysia; sukuk has highest long-term rating of AAA(IS) By PAULINE NG in Kuala Lumpur A MEGA RM30.6 billion (S$12.6 billion) sukuk issuance by highway operator Projek Lebuhraya Usahasama Bhd, or PLUS, this week will boost Malaysia’s Islamic finance credentials notwithstanding the
      380 words
    • 299 16 Reuters [JAKARTA] Refined tin shipments from Indonesia, the world’s top exporter, nearly doubled in December after smelters abandoned a self-imposed shipping stoppage and released stocks, a trade ministry official said yesterday. December shipments were up to 15,102.76 tonnes from 7,722.01 tonnes a year
      Reuters  -  299 words
    • 634 16 Moody’s says recent developments may trigger upgrades Bloomberg [SINGAPORE] Legislation aimed at speeding up infrastructure projects will improve Indonesia’s chance of a debt-rating upgrade, says Moody’s Investors Service, as yields on the country’s Islamic bonds approach a three-month low. The yield on the sukuk
      Bloomberg; REUTERS  -  634 words
    • 360 16 Bloomberg [SINGAPORE] Bank Indonesia (BI) remains mindful of inflation even as it sees room to cut interest rates further if needed, deputy governor Hartadi Sarwono said. Gains in the rupiah are helping reduce imported price pressures and policy makers are
      Bloomberg  -  360 words
    • 414 16 Reuters [JAKARTA] Palm oil exports from Indonesia, the world’s largest producer, dropped 5 per cent to 19.4 million tonnes last year, the agriculture ministry said yesterday, highlighting rising domestic consumption. The fall in exports came even as palm output rose a modest 2.5 per cent
      Reuters; REUTERS  -  414 words
  • Page 16 Advertisements
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  • GREATER CHINA/INDIA
    • 531 17  -  Top on the agenda for this year is to help SMEs and to promote innovation By JEFF PAO EJ Insight THE People’s Bank of China (PBOC) said that it will support the growth of the country’s “real economy” this year through
      EJ Insight  -  531 words
    • 563 17 Bloomberg [HONG KONG] China’s trade surplus may narrow to an eight-year low in 2012 as slowing external demand undermines exports a shift that may help the nation rebuff overseas criticism for maintaining an undervalued exchange rate. Bank of America Corp, Credit
      Bloomberg; AFP  -  563 words
    • 471 17 Reuters [BEIJING] China’s banks ratcheted up lending in the last month of 2011 on the back of stronger money supply, reinforcing perceptions that the central bank is gently easing policy to cushion the impact of the global economic slowdown. Chinese banks extended
      Reuters  -  471 words
    • 449 17 This is due to record harvest and pricier Thai supplies Bloomberg [NEW DELHI] Rice exports from India, the world’s sec-ond-largest producer, may more than double this year on a record crop and as importers seek alternatives to expensive supplies from Thailand, a shippers’
      Bloomberg  -  449 words
    • 691 17 Forecasts range from 36% rise to slight fall in index Bloomberg [SHANGHAI] Even after a two-year bear market wiped 33 per cent from China’s benchmark stock index, there’s no consensus on the direction in equity prices this year among the nation’s
      Bloomberg; AFP  -  691 words

  • WORLD
    • 711 18 NYT [NEW YORK] The International Consumer Electronics Show (CES), which will open today in Las Vegas, is impossible to ignore. It will smother the city’s gigantic convention centre with gadgets and those who make and promote them; more than 140,000
      NYT; AFP  -  711 words
    • 50 18 [HARBIN] An artist from Thailand carving an ice sculpture last Saturday during the 26th International Ice Sculpture Contest at Zhaolin Park here, capital of north-east China’s Heilongjiang Province. The three-day contest, which kicked off last Friday, attracted more than 20 teams from nine countries and regions. XINHUA
      XINHUA  -  50 words
    • 358 18 AFP [LONDON] E-mail addresses and passwords belonging to British, US and Nato officials were posted online following the hacking of a US intelligence analysis firm over Christmas, The Guardian daily reported yesterday. Online “hacktivist” group Anonymous claimed via Twitter on Christmas Day
      AFP  -  358 words
    • 520 18 They look set to axe a further 11,000 jobs in first three months of 2012 Reuters [LONDON] British financial firms plan to shed jobs at a faster pace after the escalating eurozone sovereign debt crisis dented their confidence during the final
      Reuters  -  520 words
    • 532 18 Reuters [TOKYO] As Myanmar emerges from a half century of isolation, Asian companies with high tolerance for risk are sizing up business opportunities in what was once one of Asia’s wealthiest nations. But “first mover” advantage won’t necessarily count for much. Shares
      Reuters  -  532 words
    • 520 18 UK to say if Scots’ independence vote result is binding Reuters [LONDON] Uncertainty over the timing, result and legal implications of a Scottish vote for independence from Britain were damaging the Scottish economy, British Prime Minister David Cameron said on Sunday. The government will announce soon
      Reuters  -  520 words
    • 634 19 Both also prepared to accelerate payments into permanent fund for future bailouts Bloomberg AFP [BERLIN] Eurozone leaders may complete their new budget rulebook by Jan 31, one month ahead of schedule, and are considering accelerating capital contributions to the
      Bloomberg; AFP  -  634 words
    • 363 19 Reuters [LONDON] Lloyds Banking Group chief executive Antonio Horta-Osorio said that he was“thrilled” to return to work yesterday after a two-month absence due to fatigue, but faces an even bigger challenge turning around the part-state-owned lender than when he left. “I am thrilled
      Reuters  -  363 words
    • 78 19 [TOKYO] Kimono-clad women greeting Disney character Mickey Mouse during the annual Coming of Age Day ceremony hosted by Urayasu city at the Tokyo Disneyland in Urayasu, suburban Tokyo yesterday. The number of people aged 20, the legal age of adulthood in Japan, is estimated to stand
      AFP  -  78 words
    • 547 19 PM’s liberalising moves seek to cut top firms’ privileges Reuters [ROME] Italian Prime Minister Mario Monti plans liberalisation steps to promote competition in several industry sectors and revive the ailing economy, he said on Sunday, ahead of meetings with European partners to discuss
      Reuters  -  547 words
    • 413 19 Reuters [FRANKFURT] BMW posted record car sales for last year and forecast a boom in luxury cars would keep it ahead of rivals this year as the world’s number one maker of luxury cars enjoys strong demand from China
      Reuters  -  413 words
    • 524 19 Bloomberg AP [ZURICH] Philipp Hildebrand resigned as head of the Swiss National Bank (SNB) after a currency transaction by his wife last year dented the credibility of the franc’s chief guardian. At a news conference after announcing his resignation he said that the
      Bloomberg; AP  -  524 words

  • Page 19 Advertisements
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  • EDITORIAL & OPINION
    • 470 20 EDITORIAL THE European Union’s Emissions Trading Scheme (ETS) is running into a thick figurative fog. China has, for the first time, clearly stated that it will not cooperate and said its airlines might not pay the emissions surcharges. It is also considering retaliatory
      470 words
    • 1043 20  -  Ex-CEO Woodford won’t get credit for any change to Japan that he might have sparked ANTHONY ROWLEY Tokyo Correspondent FOR Briton Michael Woodford, whose brief reign as president and CEO of Japanese camera and medical equipment maker Olympus was summarily terminated when he was
      REUTERS  -  1,043 words
    • 785 20  -  THE BOTTOM LINE ROBERT SAMUELSON EVEN China? Could the world’s economic juggernaut, having grown an average of 10 per cent annually for three decades, face a slowdown or what for China would be a recession? Does it have a real estate
      785 words
    • 1784 21  -  But things can go wrong, and unexpected provocations and miscalculations may lead to West’s confrontation with Iran LEON HADAR Washington Correspondent REPORTS that members of the European Union (EU) were planning to impose an embargo on Iranian oil as part of a US-led strategy to
      AP  -  1,784 words
    • 689 21  -  By ANDRÉS VELASCO The writer, a former finance minister of Chile, is a visiting professor at Columbia University for 2011-2012 in Santiago ON MATTERS of sex, the citizens of mostly Roman Catholic Latin America often proclaim one thing and practise something very different.
      AFP  -  689 words


  • AVIATION
    • 307 22 Bloomberg [CHARLOTTE] Bombardier Inc will hire another 400 workers in Wichita, Kansas, in exchange for state and local incentives, a Sedgwick County official said, offsetting some of the losses from Boeing Co’s planned shutdown in the city. Kansas officials plan to announce
      Bloomberg  -  307 words
    • 515 22 Decision to delay offering comes on the back of growing stock volatility Reuters [HONG KONG] Hong Kong Airlines Ltd has decided to delay its initial public offering (IPO), originally scheduled for early this year, until the third quarter because of stock market
      Reuters; AFP  -  515 words
    • 179 22 Xinhua [BEIJING] China’s civil aviation regulator said that domestic airlines can add some 14,000 flights to meet massive passenger flow during the 40-day peak spring travel season, which started last Sunday. Passengers are expected to make close to 35 million more trips by
      Xinhua  -  179 words
    • 674 22 It could see federal mail-flying drop by more than 27% Bloomberg [NEW YORK] FedEx Corp, the delivery company that is both a partner and rival to the US Postal Service, may see a federal mail-fly-ing contract drop by more than 27 per cent
      Bloomberg  -  674 words
    • 829 22 AP [WASHINGTON] Despite suffering severe injuries in the worst air race accident in the US in more than half a century, some victims have told their lawyer they would like to attend future races. “I just look at them, shake my head and
      AP  -  829 words
  • Page 22 Miscellaneous
    • 356 22 CRYPTIC CROSSWORD Across 1 Returning weapons? (10) 6 Some white chocolate for parrot (4) 9 Kept trimmed having removed top of hair (5) 10 Taking the dimensions of uprooted geraniums (9) 12 Margin initially missing, editor’s told (7) 13 Bird created by sculptor after a change of heart (5) 15
      356 words

  • Page 23 Advertisements
    • 1234 23 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 Email: singapore@balisagp.com Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Antwerp/UK Destination STXPO TBN Camden/New Orleans/Tampico Destination GOOD PACIFIC~
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  • THE BUSINESS TIMES SHIPPING TIMES
    • SHIPPING
      • 640 24 Iran’s threat to disrupt oil shipments via Hormuz seen endangering safety Bloomberg [LONDON] A union representing 23,000 seafarers will seek extra payments for its members if Iran’s threat to disrupt oil shipments through the Strait of Hormuz endangers their safety, as US
        Bloomberg  -  640 words
      • 259 24 SGX '000 Jan 9 S$ +/-Vol CH Offshore 0.35 0.01 20 Chuan Hup Hldg 0.20 -0.01 21 Cosco Corp 0.92 -0.01 2664 s$ Ezra Hldgs 0.89 0.01 1693 First Ship Lea 0.29 0.01 1286 Freight Links 0.06 unch 144 Grand Banks unch unch 0 Jaya Hold Ltd 0.46
        259 words
      • 580 24 Debris litters beach, containers hit shore, looting reported Bloomberg [WELLINGTON] Shipping cargo and debris are littering a beach on New Zealand’s North Island after Rena, the 236-metre container vessel stranded on a reef since October, yesterday split into two in rough seas. “There
        Bloomberg; AP  -  580 words
      • 387 24 Reuters [SINGAPORE] China’s Shagang Shipping has failed to pay millions of dollars in vessel rental fees to Diana Shipping, said a source close to the Greece-based firm, as Chinese maritime companies struggle through a downturn in the dry bulk freight market. Shagang Shipping is
        Reuters  -  387 words
  • Page 24 Advertisements
    • 329 24 Shipping Times HDS LINES THE SHORTEST TRANSIT TO PERSIAN GULF CONTAINERS SERVICE TO TANZANIA, KENYA, MIDDLE EAST, IRAN, PERSIAN GULF, IRAQ, CIS, INDIA PAKISTAN HDM SPL Approx transit time ex-Singapore 8 D 9 D 14 D VESSEL~ VOY SIN~ PKG~ JEA~ BND~ BIK ALVA~ HDM 0115S 17 Jan ~18 Jan~
      329 words
    • 169 24 RICKMERS-LINIE Round-the-World Pearl String Service Regular Break-Bulk/Project/SOC Conventional Services WEBSITE: www.rickmers.linie.com ~JKT~ ETA SIN~ LCH~ SGN~ HPH~ SHA~ NBO~ XIN~ DLC Rickmers New Orleans 316 27/12 05/01 08/01 20/01 25/01 03/02 10/03 16/03 22/03 21/03 27/03 Rickmers Hamburg 317 16/01 21/01 27/01 08/02 13/02 22/02 12/03 16/03 20/03 24/03 31/03
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    • 18 24 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. THE BUSINESS TIMES Shipping Times
      18 words

  • SINGAPORE STOCKS
    • 2495 25 Transaction date: Jan 9 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote 112.5 92.5 AIMSAMPIReit 96.5 unch 121 97 96.5 96.5 97 2.1 9.7 428.3
      2,495 words
    • 184 26 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 1 0.2 t Advanced System 0.3 unch 222 0.3 0.3 0.3 0.4 10 5 Last Quote Div Gr Yld Net M Cap High
      184 words
    • 7429 26 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha Fund Cl A!** AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA Life Aberdeen Asset Mgt Asia Limited AXA Wealth Mat S'pore Pte Ltd Aberdeen Asset Mat Asia
      7,429 words
    • 197 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 49 25.5 Genting HK US$ US30 -0.5 8850 30.5 30 30 30.5 1975.4 15 10 OGL Resources A$ A10 5 10 1.5 223 168 TanChongInt HK184
      197 words
    • 850 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 117.5 -0.5 9 117.5 117.5 116.5 117.8 536.4 1261 856 CIMBAsean40 100US$ US953 -13 1 953 953 960 964 38.1
      850 words


  • FINANCE & COMMODITIES
    • 368 27 In local curr In S$ In US$ dy yr dy yr dy yr Jan 6 Index Change Change Change Change Change Change World Preliminary 841.4 -0.2 1.4 -0.3 0.7 -0.3 0.9 EAFE Preliminary 686.9 -0.3 0.7 -0.7 -0.6 -0.7 -0.4 Europe Preliminary 1034.1 0.0 0.7
      368 words
    • 107 27 Jan 6 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 12 1189.50 1201.25 1209.00 1188.25 Mar 12 1196.50 1209.00 1219.75 1193.50 May 12 1206.00 1218.75 1229.50 1203.25 Jul 12 1214.50 1227.50 1238.00 1212.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 12 50.80
      107 words
    • 77 27 CRUDE OIL PRODUCTS Jan 6 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.47 -1.05 WTI (Near Mth) 101.80 -0.04 Dubai (1-Mth F) 109.55 -0.20 Tapis blend 121.18 -0.78 Minas 119.18 -0.78 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.44 0.55 Jet Kerosene 126.80 -0.65 US$/barrel Opec Oil
      77 words
    • 81 27 Jan 9 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 12-Apr-12 0.35 0.32 0.32 1-Year BY*****W 01-Nov-12 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01-Jul-13 102.9 5-Year N*****0W 1.125 01-Apr-16 102.42 BQ*****N 12-Apr-12
      81 words
    • 436 27 Jan 9 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.4250 0 2710 Jun12 99.3850 0 6901 Sep12 99.3550 0 1686 Dec12 99.3350 0 579 EUROYEN TIBOR FUTURES Mar12 99.6550 0 1949 Jun12 99.6575 0 1440 Sep12 99.6525 0 711 Dec12 99.6575 0 115 Mar13 99.6500
      436 words
    • 114 27 As on 6 January 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT FEB2012 1631.70 1616.10 1616.90 351 CURRENCY AUD-USD FUT MAR2012 1.0188 1.0119 1.0145 3534 EUR-USD FUT MAR2012 1.2818 1.2707 1.2726 5085 USD-JPY FUT MAR2012 77.25 76.85 76.99 3499 BASE METAL
      114 words
    • 167 27 Jan 9 SICOM RUBBER Futures (Closing prices) RSS 3(US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Feb 12 332.0 332.0 331.0 4 249 Mar 12 335.0 324 Apr 12 338.0 338.0 337.0 8 175 May 12 341.0 341.0 340.0 8 250 Jun 12 342.0 342.0
      167 words
    • 67 27 Jan 6 Jan 6 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2046.75 2014.00 3 months 2069.00 2036.00 Copper, Grade A(US$/tonne) Cash 7569.25 7528.00 3 months 7580.00 7540.00 Lead(US$/tonne) Cash 1934.25 1983.50 3 months 1959.00 2005.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00
      67 words
    • 80 27 Jan 6 COCOA (£/tonne) Close Prev High/Low Mar 12 1335 1332 1353/1321 May 12 1354 1351 1368/1339 Jul 12 1370 1368 1385/1356 Sep 12 1386 1383 1393/1373 COFFEE(US$/tonne) Close Prev High/Low Jan 12 1704 1758 1750/1707 Mar 12 1720 1774 1772/1717 May 12 1752 1805 1805/1749 Jul 12 1781
      80 words
    • 1144 27 BONDS, WARRANTS EXTENDED SETTLEMENT 1ms li* Vtk f*4^( t-w U4 ».Lj U(» Olt •A Ae*t •*P^r Mil! itn tlf* •fll. 1 MT X" <» h $l IMiifl. vWCTT •I 1 jm JUA7 *1 Mln«tT «*h Wi If I*-’ k r* 1 < i7 AVMi.inil WlflVJ 4i 1 |A* •(Ul 11
      1,144 words
    • 470 27 Jan 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.050 6.447 0.801 7.926 53.668 93.802 0.785 11.855 3.220 1.303 92.833 45.028 1.325 8.329 0.973 30.823 32.468 0.662 1.021 Canada 0.953 6.141
      470 words
    • 72 27 Jan 9 (D44I 1 mill nipn njiTJi mlhi n utni U.MYU 3 twin i&UMr. oa*ui I mUrS liiptB »mii" •I=i*i? AVjat* ll» nil** nMe varrrtu SWAP CHtf r*lc4 (M) p 41 *71 i imh* n 3 mihi nssM* 0 "hi o wri •i -Mr,, nvjioi Tlnrltr U-53'iT SWW MWral«
      72 words
    • 138 27 Jan 9 GOLD(US$/oz) Jan 06 Jan 09 Hong Kong 1631.00 1628.00 Jan 09 Jan 05 Jan 06 London 1605.00 1620.60 1605.75 1621.80 Source: Thomson Reuters CAST BAR Jan 09 (S$) Selling Buying Kilobar "72,220.72" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 162 67 5gm 459 336 10gm
      138 words
    • 103 27 Jan 9 Jan 9 Jan 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 12 3200.0 3210.0 3205.0 3200.0 31 197 Feb 12 3202.0 3220.0 3222.0 3194.0 869 ***** Mar 12
      103 words
    • 154 27 Jan 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3249 1.3255 1.0206 1.0208 Canadian dollar 1.2619 1.2629 0.9720 0.9726 Euro 1.6540 1.6549 1.2741 1.2745 NZ dollar 1.0156 1.0184 0.7823 0.7843 Sterling pound 2.0026 2.0036 1.5426 1.5430
      154 words
    • 121 27 As at 9am Jan 09 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.353 1.289 Can dollar 1.285 1.236 Euro 1.679 1.615 Sterling pound 2.04 1.962 NZ dollar 1.04 0.991 US dollar 1.319 1.269 Local dollars to 100 units of foreign
      121 words
    • 161 27 Jan 9 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 3/16 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.08 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.60 0.40 3 months 0.75 0.55 6 months 1.00 0.80 9 months 1.15 0.95 12
      161 words

  • PROPERTY
    • 848 28 US$7t in home equity wiped out as prices fall; ‘underwater’ mortgages hit 12m Bloomberg [WASHINGTON] In an unusual step, the Federal Reserve sent a white paper to congressional committees last week, urging them to look again at what ails the US
      Bloomberg  -  848 words
    • 271 28 Reuters [BEIJING] Home prices in China are likely to fall moderately in the first half of 2012 before stabilising in the second half as Beijing maintains market tightening measures, according to a report released yesterday by Reico, a research institute sponsored by
      Reuters; REUTERS  -  271 words
    • 476 28 Net increase of 3.18m sq ft in Q4 as consumer confidence, job growth begin to strengthen Bloomberg [SEATTLE] US shopping centres had their first net gain in occupied space in four years as consumer confidence and job growth began to strengthen, Reis Inc said. Neighbourhood
      Bloomberg  -  476 words
    • 843 29 97 lawsuits filed since 2007 citing unrealistic valuations by its surveying unit Bloomberg [LONDON] Suninder Sandha bought his luxury apartment in Coleorton Hall, a 19th century country mansion near Leicester in central England, using a £1.2 million (S$2.4 million) loan from Barclays plc
      Bloomberg; BLOOMBERG  -  843 words
    • 401 29 Overseas buyers compete for fewer properties for sale Bloomberg [LONDON] Luxury-home prices in central London gained for a 14th consecutive month in December as overseas buyers sought safer investments and competed for a smaller number of properties for sale, Knight Frank
      Bloomberg  -  401 words
    • 232 29 Xinhua [SHENZHEN] China’s southern boomtown of Shenzhen reported a 21.7 per cent decline in land sales in 2011 as property control measures hampered growth prospects. Shenzhen made 18.4 billion yuan (S$3.8 billion) from land sales last year, down from 23.5 billion yuan in 2010,
      Xinhua  -  232 words
  • Page 28 Advertisements
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      324 words
    • 107 28 6 adjoining units of 3-storey shophouses Located at Syed Alwi Road within Little India Conservation Area Land Area 8,138sqft Floor Area 18,500sqft approx Tenure Freehold Near Mustafa Centre Lavender MRT Station Fully tenanted Expressions of Interest, closing 19th January 2012 (Thursday), 3pm Mary Sai 9388 7879(R*****8I) Derrick Loi 9101 4747(R*****0I)
      107 words
    • 154 28 JADE TOWERS D19 FREEHOLD REDEVELOPMENT SITE SM L*T 2* -S' ll II V. LORONG LEW LIAN NEX Shopping Mall tr lisl O Serangoon MRT/ S Exit D Bus Intercharge < S SUBJECT SITE Serangoon Gardens BRADDELL RD SERANGOON AVE 1 0 Si St. Gabriel’s Sec Sch => BARTLEY RD Bartley
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  • Page 29 Advertisements
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  • Page 30 Advertisements
    • 167 30 NAVARA PICKUP ML NV200+6 GOODS CUM PASSENGER COMPACT VAN PJ NWZOo compact goods VAN SSS® SHIFT_the way you move NISSAN N CABSTAR LIGHT TRUCK URVAN goods van URVAN MICRQBUS ?AnIr SELLlNG LARGE van URVAN HIGH ROOF MICRQBUS lx m ft Lpjj I—I BOOK NOW TO ENJOY 1 YEAR SERVICING 1
      167 words