The Business Times, 9 December 2009

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Total Pages: 29
1 29 The Business Times
  • 23 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg Sf^l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Wednesday, December 9,2009
    23 words
  • 755 1  -  ANTHONY ROWLEY 7.2 trillion yen package may not be enough, but cash-strapped govt has little choice By in Tokyo THE Japanese government yesterday announced a basic 7.2 trillion yen (Ssll3 billion) fiscal package to maintain economic recovery. But while the proposed spending was raised
    755 words
  • MARKETS DIGEST
    • 89 1 IS$ (S$ per US$) 1.392 (US$/S$ per 1.634 2.274 :URO (US$/S$/E) 1.480 2.060 Foreign currency per US$ S$ 'EN 89.00 63.90 3.396 2.439 IK$ 7.750 5.568 !AHT 33.20 23.85 lUPIAH 9,450 6,789 lENMINBI 6.828 4.905 INDIAN RUPEE 46.74 33.58 1.099 0.789 1.405 1.010 KL COMP 1,261.46 -3.90 NIKKEI 225
      89 words
    • 28 1 Bloomberg SINGAPORE 5.38 MALAYSIA 5.55 HONGKONG 5.00 INDONESIA 15.793 TAIWAN 4.696 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.53 INDIA 11.75 Source:
      Bloomberg  -  28 words
  • Article, Illustration
    151 1 How close can you get to touching a star? With Luxe Christmas, it can be fingertip-close. Turn the pages of our bumper 68-page magazine and you will have an instant connection to a constellation of international stars. So join us as Jeff Koons, Ferran Adria, Frank Gehry, Heston
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  • 537 1  -  JAMIE LEE By [SINGAPORE] Independent directors (IDs) of troubled Sino-Envi-ronment Technology Group have applied for a court order to call for an extraordinary general meeting (EGM) to remove the executive directors and also to strip them of their powers to execute several
    537 words
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  • Page 1 Miscellaneous
    • 47 1 HOCK LOCK SIEW i^; EXECUTIVE MONEY TRANSPORT HUB OPINION j||iiiK Japan Land twisting Professor slams financial industry KepFels wins another How'stateholders' J/^^MmMli in ever tighter knots for investment fallacies award for SSDT concept should run business fp tt^'iV^^g PAGE 8 ;'ki W PAGE3O PAGE 19 PAGE 23
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 61 2 THE Japanese government yesterday announced a basic 7.2 trillion yen (Ssll3 billion) fiscal package to maintain economic recovery. But while the proposed spending was raised slightly in order to placate critics within Prime Minister Yukio Hatoyama's coalition, it may not be enough to counter renewed
        61 words
      • 48 2 INDEPENDENT directors of troubled Sino-Environment Technology Group have applied for a court order to call for an extraordinary general meeting to remove the executive directors and also to strip them of their powers to execute several types of financial transactions. FRONT PAGE
        48 words
      • 75 2 SINGAPORE'S property market is looking relatively less attractive to investors as they worry about oversupply and over-development on the island. According to a joint survey by PricewaterhouseCoopers and the US-based Urban Land Institute, Singapore is fifth in a ranking of Asia-Pacific cities' property investment
        75 words
      • 53 2 THE Urban Redevelopment Authority has made a 60-year leasehold industrial site at Woodlands Avenue 12 available for application through the government's reserve list. The 347,451 sq ft site will be released for tender once a bidder undertakes to pay a minimum acceptable price. TOP
        53 words
      • 68 2 SINGAPORE-LISTED Chinese companies planning a dual listing elsewhere to seek better valuations will need no further encouragement -just look at China XLX Fertiliser. Shares of China XLX jumped 51 per cent to 77 cents in Singapore yesterday their highest level in more than
        68 words
      • 57 2 ESMART Holdings is buying a new mining and mineral resource development business in a $307 million reverse takeover deal. The company announced yesterday that it has struck a conditional sale and purchase agreement with Auzminerals Resource Group to purchase shares in Solar Silicon Resource
        57 words
      • 64 2 A LANDED housing site at Jurong West put up for sale by the government drew a whopping 32 bids at the close of the tender yesterday. The top bid of $38.5 million or $254 per sq ft of land area came from Chappelis,
        64 words
    • 569 2 -AP Money may be used to update transport grid, help small businesses add staff [WASHINGTON] President Barack Obama is looking to use money left over from a massive fund created to bolster the US financial system a year ago, pursuing ways to lower
      -AP; AFP  -  569 words
    • 441 2 -AP [LONDON] The US and Britain must take action soon to get their public finances in order if they want to avoid threats to their top tri-ple-A credit ratings, a leading credit ratings agency said yesterday. In an assessment of eight
      -AP  -  441 words
    • 520 2  -  EMILYN YAP By [SINGAPORE] Singapore's property market is looking relatively less attractive to investors as they worry about oversupply and overdevelopment on the island. According to a joint survey by PricewaterhouseCoopers (PwC) and the US-based Urban Land Institute (ULI), Singapore is fifth in a
      520 words
    • 732 4  -  JOYCE HOOI COMMENTARY The rift is wide and the allegations are sensational, but somewhat pointless By [SINGAPORE] THE first day at Copenhagen must have resembled some sort of Bizarro world where everything is backwards. A carefully worded, if obvious, statement from President Barack Obama about
      XINHUA  -  732 words
    • 477 4  -  JOYCE HOOI It will become one new $320 m entity, KS Distribution By [SINGAPORE] OIL and gas services provider KS Energy Services (KS Energy) is consolidating its distribution businesses into one new $320 million entity called KS Distribution. It will do this by taking
      BLOOMBERG  -  477 words
    • 611 4 Reuters [DUBAI] Investor confidence in Dubai took a fresh knock yesterday as its leaders dithered over a rescue for debt-laden company Dubai World and ratings agency Moody's slapped a downgrade on government-related debt. "You can usually take the view that
      Reuters  -  611 words
    • 413 4  -  KALPANA RASHIWALA 60-year leasehold is near Admiralty MRT Station +By THE Urban Redevelopment Authority has made a 60-year leasehold industrial site at Woodlands Avenue 12 available for application through the government's reserve list. It will be released for tender once a bidder undertakes to
      413 words
    • 591 4 AFP [WASHINGTON] Federal Reserve chairman Ben Bernanke on Monday dampened speculation that essentially zero interest rates were set to rise, saying the US recovery from recession remains fragile. "Though we have begun to see some improvement in economic activity, we still have
      AFP  -  591 words
  • Page 2 Advertisements
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  • Page 5 Advertisements
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  • StarHub
    • 1204 6 The Asia-America Gateway is the region's first direct link to the United States which bypasses high-risk earthquake zones YESTERDAY'S launch of the AsiaAmerica Gateway (AAG) undersea cable marked a new milestone for consumers and businesses in Singapore and Southeast Asia. It
      1,204 words
    • 468 6 The AAG has an initial design capacity of 500 Gigabits per second and it can easily scale up to 1.92 Terabits per second in tandem with demand using Dense Wavelength Division Multiplexing (DWDM) technology. DWDM technology combines or multiplexes in geekspeak multiple optical signals together within
      468 words

  • COMPANY NEWS
    • 736 7  -  CHEW XIANG 182 m units traded on SGX compared with 6-month average of 15m By SINGAPORE-LISTED Chinese companies planning a dual listing elsewhere to seek better valuations will need no further encouragement just look at China XLX Fertiliser. Shares of China XLX
      736 words
    • 358 7  -  SIOW LI SEN They can expect govt support in hard times, adds report By SINGAPORE banks operate in a strong environment and can get government support in times of financial turbulence, according to rating agency Moody's Investors Service. "The Singapore banking system is
      358 words
    • 706 7 IT IS odd that Japan Land did not mention who had been in charge of the accounts for its subsidiary Japan Asia Land at a press conference last week. Because if the board had said then that Junya Kitada chief financial officer of
      706 words
    • 402 8  -  JERMAINE NG Move into mineral resource business hinges on share issue, consolidation By ESMART Holdings is buying a new mining and mineral resource development business in a $307 million reverse takeover deal. The company announced yesterday that it has struck a conditional sale and
      402 words
    • 350 8  -  VINCENT WEE By SEMBCORP Marine unit PPL Shipyard has on-sold a Pacific 375 class jack-up rig to Vietsovpetro after taking over the rig from original owner Seadrill last month. PPL paid US$lO.B million for the West Elara and actively marketed it. Vietsovpetro paid a
      FILE PHOTO  -  350 words
    • 241 8  -  WONG SU-JIN By THE Singapore Exchange Limited (SGX) has launched a new derivatives-clearing system, SGXClear. Powered by Nasdaq OMX technology, SGXClear has received an upgrade that allows it to serve as a faster and more efficient system. It has been further equipped with added
      241 words
    • 931 10 Bloomberg He says Asia, South America may have the best openings [LOS ANGELES] Mandarin Oriental International Ltd, operator of 25 luxury hotels from Tokyo to San Francisco, may buy more brands as lodging companies struggle amid a decline in spending, chief executive officer Edouard
      – Bloomberg; BLOOMBERG  -  931 words
    • COMPANY BRIEFS
      • 35 10 PEC Ltd is planning to buy 55 per cent of EBT Engineering Pte Ltd for $3.88 million. EBT provides painting and blasting services in the oil and gas industry.
        35 words
      • 85 10 BH Global Marine will incorporate a joint venture company in Singapore to export marine-related goods and products to Myanmar. The venture is with Shwe Nyan Win and Myint Soe Them experienced businessmen in marine and oil and gas engineering with strong networks in Myanmar. The
        85 words
      • 59 10 DMX Technologies Group has secured a contract to supply information technology security solutions to one of South Korea's main government agencies overseeing IT security-related matters. Subsidiary DMXTechnologies Korea Co Ltd is to put in place effective security surveillance against malicious cyber-attacks, namely Distributed Denial of
        59 words
      • 93 10 SBI Offshore Ltd has announced that net profit for the six months ended June 30 increased 73.6 per cent from a year ago to US$l.39 million. Revenue for the same period increased 68.7 per cent to US$5.9B million. This was attributed to higher sales orders
        93 words
      • 109 10 WESTECH Electronics Ltd has announced that its subsidiary, WesTech Investment Pte Ltd, has entered into an option to purchase agreement with Crown Success Enterprises Pte Ltd to sell its property at 34 Kaki Bukit Crescent, Kaki Bukit Techpark 1, for a sale consideration of $2.83
        109 words
      • 100 10 FEDERAL International (2000) Ltd has announced that its wholly-owned subsidiary, Federal Hardware Engineering Co Pte Ltd, has entered into a head of agreement to sell its entire 60 per cent interest in shareholdings in PT Gasuma Federal Indonesia (GFI) and the transfer of receivables due
        100 words
    • 146 10 Bloomberg STRAITS Asia Resources Ltd, the coal miner controlled by Thailand's PTT Pel, plans to borrow US$3BO million from four banks to repay maturing debt, according to two people familiar with the matter. The Singapore-based company is in talks with Krung Thai Bank Pel,
      – Bloomberg  -  146 words
    • 551 10  -  WINSTON CHAI The system, built by StarHubandlB other telcos, boosts Internet connectivity By INTERNET connectivity between Singapore and the United States received a major boost with the minting of a new US$5OO million submarine system built by local operator Star Hub and
      551 words
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    • 564 7 I v I VOX c O REMEGOj I I Voxeo Partners With Remego I To Unlock Contact Centers I in ASIA-PACIFIC REGION Orlando and Singapore, December 07, 2009 voxeo corporation, the leading provider of Unlocked Communications, today announced a partnership and reseller agreement with Remego, a leading Singapore-based provider of
      564 words


  • SINGAPORE MARKETS
    • 881 9  -  OH BOON PING CURRENCIES Yen surges; US dollar holds firm against other currencies SAFE havens dominated yesterday, as the Japanese yen moved sharply higher, while the US dollar held on to its gains from earlier sessions. The yen climbed to a five-day high of 132.25
      881 words
    • 98 9 Up Down Unch Up Down Unch Up Down Unch lulti Ind 115 2 0 0 0 115 2 lanufacturing 80 22 65 15 84 29 80 Commerce 23 13 23 26 18 28 'pt/Stor/Comms 22 10 24 11 :inance 11 11 Construction 10 10 10 13 'roperties
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    • 116 9 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 11.848 11.848 26.926 26.926 lanufacturing 687.742 21.146 708.888 381.223 764 381.987 Commerce 153.238 81.564 234.802 111.710 19.087 130.796 'pt/Stor/Comms 85.080 4.087 89.167 139.278 821 140.099 :inance 14.608 14.608 111.753 111.753 Construction 28.970 92.847 121.817 6.206 1.436 7.641 'roperties 137.726
      116 words
    • 101 9 lapitaLand 4.170 +0.010 lapitaMall 1.740 -0.020 lityDev 10.780 +0.340 lomfortDelGrc 1.540 +0.010 losco Corp 1.080 +0.010 IBSGrp 14.860 +0.020 :&N 4.050 +0.010 ienting SP 1.090 +0.010 iolden Agri 0.490 +0.005 IK Land 4.750 IMH 29.620 -0.300 ISH 17.400 -0.100 lardineC&C 25.520 leppel Corp 8.490 +0.020 IOL
      101 words
    • 769 9  -  JAMIE LEE Oil-and-gas companies DBS VICKERS SECURITIES, Nov 8 INVESTMENT thesis 1: resurgence in order flow. Our key investment thesis for 2010 is for builders to outperform asset owners/operators, due to the resurgence in orders. The key difference from the bull market in 2004 is that this order
      769 words
    • 585 9  -  R SIVANITHY STOCKS CHINA XLX's listing in Hong Kong provided the main talking point and punting focus in a session where the biggest challenge brokers faced was to find ways to occupy themselves, failing which they ran the risk of falling asleep
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    • 4 9 DAILY
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    • 59 9 CLOSE IT OB/OS -1.00 +75.C IT CADI -*****.00+117. IT 10-day MA -*****.00 TSE ST Mid Cap 669.33 +1.4: TSE ST Small Cap 531.04+10.4: TSE ST All Share 691.05 +2.6' TSE ST China Top 279.45+11.5' TSE ST China 295.12 +5.8' TSE ST Catalist 1192.35 +5.2 TSE ST Maritime
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    • 56 9 VOLUME China XLX 182,348,000 Sapphire 92,329,000 Novena 76,524,000 China Milk 60,654,000 Golden Agri 48,882,000 Midas 44,538,000 Ocean us 44,043,000 CJFertilizer 38,574,000 BanJoo 38,302,000 CapMallsAsia 36,581,000 VALUE(S) China XLX 133,665,285 CapMallsAsia 95,802,650 Capita Land 63,883,970 Noble Grp 50,551,260 DBS Grp 45,739,786 Sing Tel 41,911,518 Midas 39,735,595 Gentinq SP
      56 words
    • 109 9 CLOSE UP LP 10US$ ***** 253.2 1.6 :it 1078 34.0 3. lit ES.0912 1072 28.0 2. iBXT MSKorea 10US$ 4534 27.8 0.. :hina XLX 77 26.0 51.' IOB MBL eCW*****4 101 22.5 28. IOB 1970 20.0 1.' .IA 1370 18.0 1. ISMSCI India 100 677 15.3 1. ICBC Bk5.1%NCPS
      109 words
    • 109 9 CLOSE DOWN *****-452.2 -2.9 DBXT Ni 10US$ DBXT FTVietnam 10US$ 4567-130.8 -2.0 DBXT FTChina25 10US$ 3141-107.1 -2.4 "IH 148 -46.0 -23.7 China H 10US$ 1700 -44.5 -1.8 IMH 2962 -41.7 -1.0 ISH 1740 -13.9 -0.6 randBanks 41 -9.0 -18.0 HsuFuChi 210 -9.0 -4.1 DBS.ES.0912 1476 -8.0 -0.5 BY PERCENTAGE
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    • 86 9 Wh lere S! i$ stands Dec 8 %CHNG CLOSE FRD«7 YR2009 S$ LOW S$ HIGH uss 1.3919 -0.15 1.5579 1.3800 Euro 2.0585 -0.06 2.0952 1.9150 Pounds 2.2733 -0.02 2.4366 2.0356 1.2652 -0.16 1.2942 0.9453 'en* 1.5649 -0.10 1.7278 1.4831 Rill liah* 0.***** -0.17 0.***** 0.***** Baht* 4.1925 0.01 4.3390
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      196 words

  • SINGAPORE NEWS
    • 477 11  -  UMA SHANKARI Top bid of $38.5 m for popular plot comes from Kheng Leong unit Chappelis By A LANDED housing site at Jurong West put up for sale by the government drew a whopping 32 bids at the close of the tender
      477 words
    • 462 11  -  FELDA CHAY By MANY small and medium enterprises (SMEs) here are unhappy with restrictions imposed by the government to limit the hiring of foreign workers, according to a survey by the Singapore Chinese Chamber of Commerce and Industry (SCCCI). A majority also said
      SAMUEL HE/THE STRAITS TIMES  -  462 words
    • 399 11 AFTER the excitement of the Fl car race on the track around it, the Marina Bay area will have its first taste of real worldclass sporting action on the water when 24 of the world's top sailors compete against one another
      399 words
    • 476 11  -  CONRAD TAN China may allow yuan to strengthen to ease inflation: SG By POLICY-MAKERS in the world's major economies are likely to wait many more months before they rein in economic stimulus measures, even in Asia, where many economies have rebounded rapidly,
      476 words
    • 225 11 THE time needed to diagnose heart attacks has been dramatically reduced, thanks to a new test developed by Singapore researchers. Researchers at A*Star's Institute of Microelectronics (IME) announced the test yesterday. It cuts the sample preparation and analysis time typically six hours to just
      225 words
    • 408 11  -  JERMAINE NG By IN markets where there is a scarcity of senior management talent, the law of demand and supply has outweighed the impact of the pay of senior managers, management consultancy firm Hay Group said yesterday. This has resulted in wider
      408 words
  • Page 11 Advertisements
    • 144 11 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF CONTIPAC SHIPPING LINES PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) (COMPANY REGISTRATION NO. *****5142N) Notice is hereby given that pursuant to Section 308 of the Companies Act (Cap.so), the final general meeting of the Company and of
      144 words
    • 1 11 9BEfi
      1 words

  • ECONOMY WATCH
    • 717 12 -AP Consumer credit falls USs3.sb in Oct. raising concerns of stunted recovery [WASHINGTON] Americans borrowed less for a record ninth straight month in October, another sign that consumer spending will remain weak, making it harder for the economy to mount a sustained rebound.
      -AP; AFP  -  717 words
    • 716 12 Bloomberg Proposals to tighten global banking rules may drive up costs [SYDNEY] Australia's experience of booms and busts shows that trying to regulate bank lending when borrowing costs are too low is unlikely to work, central bank governor Glenn Stevens said.
      – Bloomberg  -  716 words
    • 500 12 Reuters They are in a global hunt for yield, say managers, trustees [DANA POINT, California] Large public pension funds in New York, California and Ohio are looking increasingly to alternative investments in hedge funds, private equity and emerging markets in a global hunt
      Reuters  -  500 words
    • 522 12 Bloomberg [SINGAPORE] The Bank of Korea, diversifying for-eign-exchange reserves away from a falling US dollar, said that additional gold holdings aren't attractive as most other central banks aren't buying and the metal offers no cash returns. "There's an illusion in gold,"
      Bloomberg; AFP  -  522 words
    • 274 12 Bloomberg [MANILA] The Philippines' budget deficit may widen to 320 billion pesos (559.7 billion) this year, exceeding the government's 250 bil-lion-peso target, as tax collections decline and asset sales falter. "We are now looking at a range of 280 billion pesos to 320 billion
      – Bloomberg  -  274 words
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  • MALAYSIA
    • 490 13  -  S JAYASANKARAN It will establish fund management and corporate advisory operations By in Kuala Lumpur KUALA Lumpur has approved investment bank Goldman Sachs's application to establish fund management and corporate advisory operations in the country, Malaysia's capital markets regulator said yesterday.
      490 words
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  • GREATER CHINA/INDIA
    • 420 14 Reuters Govt offers rosiest employment outlook since financial crisis hit last year [BEIJING] China's stimulus spending is on track to create at least 24 million jobs, the government said yesterday, offering its rosiest employment outlook since the financial crisis struck last year. That estimate,
      – Reuters; REUTERS  -  420 words
    • 339 14 Reuters [HONG KONG] Asia's property fund size will expand by more than 50 per cent in the next two to three years to US$2OO billion, driven by demand from institutional investors from countries including China, industry executives said yesterday. Pension funds, sovereign
      – Reuters  -  339 words
    • 267 14 Reuters It needs the money to acquire bankrupt chem firm Lyondell [BANGALORE] Reliance Industries is in talks with more than a dozen banks to raise US$B-10 billion for the acquisition of bankrupt chemical company Lyondellßasell Industries, the Economic Times reported yesterday. The banks include
      – Reuters  -  267 words
    • 438 14 Reuters [NEW DELHI] US aircraft manufacturer Boeing Co said on Monday it has started sourcing equipment worth more than US$6OO million from Indian firms for submarine fighting planes it is building for India. India signed a US$2.l billion contract with Boeing in January
      – Reuters  -  438 words
    • 606 14 -AP [SHANGHAI] China extended its lead over the US as the world's biggest auto market in November, with production and sales more than doubling from a year earlier to both surpass one million vehicles. The Shanghai-based China Passenger Car Association, a
      -AP |; REUTERS  -  606 words
    • 332 14 Reuters [NEW DELHI] US nuclear firms said on Monday they were worried land scarcity in India could further delay a joint atomic deal already hobbled by policy hold-ups over issues such as accident liability protection. A 50-member US business delegation this week
      Reuters  -  332 words
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    • 502 14 l^^^^miß A SO* With Singapore Pools IN THE HIGH COURT OF THE REPUBLIC C2HZ/{E© I //r/I"K^YT7 I twl l^ioM !^(<f/^<~' CWU OS No. 170 of 2009/P C^J (U^'-^) In the Matter of the Companies Act I*7/"7 /"^./""7 /™7 |T^l JiV .^^Tr.l In the Matter of MEMA AY INT'L PTE LTD
      502 words

  • ASIA-PACIFIC/WORLD
    • 504 15 Reuters Airbase feud with US, budgetary concerns still plague Japan PM [TOKYO] Japan's prime minister has survived a coalition scrap over fresh steps to prop up the economy but, with his popularity in decline, he faces tougher tests crafting next year's budget
      – Reuters  -  504 words
    • 403 15 Bloomberg [SYDNEY] Plans by Australian regulators to improve banks' capital strength may cost the country's four biggest lenders A 51.76 billion (552.2 billion) a year, according to Nomura Holdings Inc. Liquidity rules proposed by the Australian Prudential Regulation Authority (APRA) would force
      Bloomberg  -  403 words
    • 302 15 -AFP Australia pushes new media among civil servants [SYDNEY] Blog, tweet, update Facebook that's the message the Australian government is sending its bureaucrats as part of a push to break down barriers between public servants and ordinary people. Instead of seeing the social
      -AFP  -  302 words
    • 215 15 -AFP [SEOUL] North Korean mothers who work at street markets are publicly voicing anger over the communist state's shock currency revaluation despite the fear of arrest, a South Korean report said yesterday. Chosun flbo newspaper quoted informants in the North as
      -AFP  -  215 words
    • 641 15 -AFP [NEW YORK] Tiger Woods is now on the inward nine when it comes to women claiming relationships with the golf superstar. News reports on Monday pushed to 10 the number of women linking themselves to Woods in the
      -AFP; AP  -  641 words
    • 229 15 Reuters [KAMAKURA, Japan] In a post global financial crisis world, it may be fitting that the first fund to be launched by a new Japanese asset firm in a year paints itself as an antidote to unfettered Western-style capitalism. Kamakura Investment Management, set by
      – Reuters  -  229 words
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  • ASIA-PACIFIC/WORLD
    • 772 16 Bloomberg Total amount may nearly double to USs46.7b, says Morgan Stanley negotiate US$26 billion of loans. It's likely that other state companies will "announce debt restructuring plans over the near term", the analysts wrote. "We believe that a haircut on the external debt
      Bloomberg  -  772 words
    • 574 16 AFP [DUBAI] Despite an alarming debt crisis, Dubai is rolling out the red carpet with its usual splendour for movie stars as the Gulf state's sixth annual film festival kicks off today. Matt Dillon, Christopher Lambert, Mandy Moore, Christina Ricci and
      AFP; REUTERS  -  574 words
    • 437 16 Reuters [WASHINGTON] An International Monetary Fund (IMF) team will visit Dubai in coming weeks to look closer at the economic impact of the Dubai World debt crisis and actions needed to resolve it, a senior IMF official said on Monday. In
      ■ Reuters  -  437 words
    • 342 16 -AP [NEW YORK] Citigroup Inc and Wells Fargo Co are seeking to repay billions in federal bailout aid but so far haven't received permission from the government, people familiar with the talks told The Associated Press. The main sticking point is
      -AP |  -  342 words
    • 598 16 Super-rich Chinese London's next big act -Reuters Wealth banks look to Chinese who are outspending Arabs [LONDON] The fear that established clients will flee rising UK taxes might be giving London's private bankers sleepless nights, but a Chinese remedy is at hand, in the shape of a growing colony of
      -Reuters  -  598 words

  • WORLD
    • 606 17 Bloomberg Near zero rates fuel speculation, leading to next global crisis: economist Andy Xie [SINGAPORE] Federal Reserve chairman Ben S Bernanke is prescribing "poison" to the US economy by keeping interest rates near zero and fuelling a wave of speculative capital that may cause the
      – Bloomberg; REUTERS; BLOOMBERG FILE PHOTO  -  606 words
    • 707 17 -AP Newly independent firm starts trading on NYSE tomorrow [SAN FRANCISCO] AOL is shaking loose from Time Warner Inc and heading into the next decade the way it began this one, as an independent company. Unlike the *****, though, when AOL got rich
      -AP  -  707 words
    • 492 17 .-AFP [WASHINGTON] The US government said on Monday it would start to regulate carbon dioxide as a dangerous pollutant, sidestepping a divided Congress to give momentum to global climate talks in Copenhagen. The decision paves the way for the Environmental Protection Agency (EPA)
      .-AFP  -  492 words
    • 535 17 Reuters [HONG KONG] The Carlyle Group, the US buyout giant backing China Pacific Insurance (Group) Co Ltd, could make a US$4 billion profit a return of more than six times its investment once China's No 3 life insurer floats shares in Hong
      Reuters  -  535 words
    • 466 17 -AFP Google also adds Japanese to voicebased search service [MOUNTAIN VIEW, California] Google search is getting eyes and ears, moving beyond typed key words to let people scour the Internet with mobile telephone cameras or spoken words in multiple languages. Google on
      -AFP; REUTERS  -  466 words

  • TransportHUB
    • 256 18  -  VINCENT WEE By JURONG Port is moving steadily to gear up for the future, while boosting alliances with existing customers. Leading shipping line and multi-purpose vessel operator Swire recently moved its multi-purpose operations to the port, while Wallenius Wilhelmsen Logistics and United
      256 words
    • 650 18  -  VINCENT WEE It bags Asean Outstanding Engg Achievement Award 2009 By [SINGAPORE] Keppel Fels recently reaped the rewards of long years of research and on-site industry development by winning several awards for its ground-breaking semi-sub-mersible drilling tender (SSDT) concept the latest being the
      KEPPELCORP  -  650 words
    • 987 18  -  DAVID HUGHES STRAIT TALK A new blog is asking the right questions to improve shipping operations By THOSE who lay the blame (and there are many) for most of the global shipping industry's ills on the rise of open registers or "flags of convenience", as
      987 words
    • 746 18  -  TAN CHOR KEE By [SINGAPORE] "When you come to the end of your rope, tie a knot and hang on," said Franklin D Roosevelt. This phrase would have been on the minds of many in the shipping industry at the start of
      746 words
    • TRANSPORT STOCKS
      • 112 18 '000 lee CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KiVentures Keppel Corp Mercator Lines MTQCorp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship Star Cruises 0.68 0.34 1.08 0.70
        112 words
      • 32 18 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings PDZ Holdings 0.93 8.90 8.84 3.10 3.15 0.09 -0.01 unch 0.13 unch 0.02 unch 60 431 1307 205 17 40
        32 words
      • 12 18 ■oo 'recious Ship Regional Cont 17.90 9.80 -0.10 -0.15 62: 121:
        12 words
      • 12 18 '000 )ec Doil iingamas Cont .36.90 ...1.27 0.50 172: -0.01 1066:
        12 words
      • 22 18 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 8.80 23.25 unch unch 0.10 unch unch unch 201i 52: i i
        22 words
      • 15 18 lee Evergreen Marine ....16.75 :irst Steamship 45.95 /Van Hai Lines 15.85 -0.20 -0.30 0.10
        15 words
      • 39 18 '000 (awasaki Hvylnd ..231.00 unch 7873 (awasaki Kisen 264.00 -15.00 ***** Mitsubishi Hvy 316.00 -7.00 ***** Mitsui Eng&Sbldg...222.00 -6.00 5772 Mitsui Osk Lines 498.00 -17.00 ***** Mippon Express 397.00 -4.00 6310 MipponYusen 267.00 -16.00 ***** iource: Thomson Reuters
        39 words
    • TRANSPORT HUB: AVIATION
      • 551 19 Reuters Govt adviser on climate change eyes 60% limit for passenger growth [LONDON] Britain could go ahead with a new runway at London's Heathrow airport if the growth in passenger numbers between now and 2050 is limited to 60 per cent, the government's chief
        – Reuters  -  551 words
      • 553 19 Bernama MAS ended flights, shut New York office recently [NEW YORK] Malaysia's low-cost carrier, Air Asia, has set its sights on the United States market. Aviation experts here say that Air Asia could easily fill the vacuum left by the national carrier,
        – Bernama  -  553 words
      • 2857 19 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AIC), AY: Finnair Oy (FIN), A_" Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), Bl: Royal Brunei Airlines Sdn dmu \i\dm;, d^. Dourag Airlines (BOU), BR:
        2,857 words
      • 640 19 -AP [MOJAVE, California] In a Hollywood-style rollout, British billionaire Richard Branson's Virgin Galactic on Monday took the cloak off SpaceShipTwo, after two years of secret development in the Mojave Desert. The sleek, bullet-shaped spacecraft is about the size of a large business jet with wide
        -AP; AFP  -  640 words
    • TRANSPORT HUB: LAND
      • 522 20  -  SAMUEL EE In Spore, more than a dozen orders have been made; the first delivery is in January By BEFORE the launch of its California convertible a year ago, Ferrari had predicted that 60 per cent of buyers would be new to the
        FERRARI  -  522 words
      • 628 20  -  SAMUEL EE Independent workshop largest in western Spore By IT MAY be located in Jurong but China was the inspiration for the new $24 million automotive facility by Star, the vehicle repair and services division of Singapore Technologies Kinetics. The sprawling 6,000 square
        ARTHUR LEE  -  628 words
      • 697 20 -NYT [DETROIT] Edward E Whitacre Jr, the new chief executive of General Motors (GM), has one big advantage as he tries to turn around the automaker a stockpile of cash to develop new cars and trucks. GM had already pumped up its
        -NYT  -  697 words
      • 618 20 Reuters Buyer BAIC secures USs2.93b bank credit [DETßOlT] General Motors Co is talking to BAIC, China's fifth largest carmaker, about a partial sale of assets associated with its Saab brand, including tooling and technology, two people with direct knowledge of
        – Reuters  -  618 words
  • Page 18 Advertisements

  • Page 19 Miscellaneous
    • 372 19 CRYPTIC CROSSWORD Across 1 Sweet bishop facing total ruin W] [2 [4 (12) ■_r_ 9 Female performance conveying reality (4) B™ Hlo" 10 Meeting bridge opponents I I at the table (9) 12 Fashionable codes for mem- __H _____^^__H _H _H __H bers of extended family 12 B l^ 13
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  • EDITORIAL & OPINION
    • 466 21 "AFTER two years of negotiations, the time has come to deliver," said the United Nations climate chief Yvo de Boer as the UN summit on climate change got underway in Copenhagen on Monday. The delegates from 192 countries who have gathered at the Danish capital have until
      466 words
    • 951 21  -  001 BOON JIN LIANG MUN CHUAN Don't let simple business trips turn into something complex and expensive By and V HETHER in good or bad economic times, businesses often find that some corporate travel by employees is unavoidable. Regardless of whether this is
      REUTERS  -  951 words
    • 765 21  -  FRANK CHING THE BOTTOM LINE WEEKS after Barack Obama was praised for being the first American president to visit China during his first year in office, Canadian Prime Minister Stephen Harper, who assumed office in January 2006, was upbraided for not going to
      765 words
    • 1361 22  -  ROBERT GOGEL LUDO VAN DER HEYDEN Here are guidelines for governments to get corporations and financial markets back to serving the public interest By and THE world is still waking up to the vast amount of capital injected by its governments into the "private economy"
      AFP  -  1,361 words
    • 995 22  -  MATTHEW LYNN Bloomberg ECONOMIC chaos? The US dollar crumbling? Central banks printing money like crazy? Probably the only real surprise about the surge in gold prices over the last few months is that it took so long to arrive. Last week,
      – Bloomberg  -  995 words
    • 605 22 LETTER TO THE EDITOR I REFER to Japan Land's announcement published on SGXNet dated Dec 3, in response to my letter to The Business Times published on the same date. In that response, the company stated: "We believe that the above (points) are
      605 words


  • SINGAPORE STOCKS
    • 8696 23 Transaction date: Dec 8 Hil !-wks Tel Low Code Coi Sale COOP) Hi; Low Bi Seller Cvr P/E Smil 17 3 3148 8Telecom 9.5 2.5 5834 A-Sonic 34 16 5000 ABRHIdgs 15.5 5.5 1938 AEI Corp 8 1 1100 AEM 23 10 2101 APOil 93 35 5550 ARA
      8,696 words
    • 1695 24 52-wks Tel High Low Code Last Sale Vol Day Last Quote Div Gr Yld C000) High Low Buyer Seller C'vr Net P/E M Cap $mil Company 10 5 1181 s AAGrp 25 12 8538 t APStrategic 4 0.5 1501 s Advanced System 7.5 3.5 3480 t Adventus 20
      1,695 words
    • 407 24 Hii Low Code Comi Sale C000) Hii Bin Seller C'vr P/E s 111 105 6389 ABFSG Bond ETF 819 427 CIMBAsean40 1OOUS$ 290 149 DBS STIETF100 4627 3534 DBXT DJE50 10US$ 3282 1682 DBXT FTChina25 10US$ 5819 3228 DBXT FTVietnam 10US$ 2814 2246 DBXT MSAsExJp 10US$ DBXTMSBrazilUD$10 DBXT
      407 words
    • 266 24 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer
      266 words
    • 9381 24 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!S 2.147/ AIGIF S'pore Bond Fund/^- 1.372/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.15/ APS Alpha Fund (USD)!** 0.83/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXAWM -Talents
      9,381 words
  • Page 23 Advertisements
    • 31 23 HPflßiSli AjdemarsPiguet i w^iiiFT^ Le maitre de Vhorlogerie depuis 1875 ■ft 111'1 j^^^ ftM^^E*S*t ill^L H^SsJ TSlllll^^^^^ TOURBILLON, MINUTE REPEATER AND r si* CHRONOGRAPH For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com
      31 words


  • FINANCE & COMMODITIES
    • 369 25 In local curr In S$ In US$ dy yr dy yr dy yr Index Change Change Change Change Change Change Dec 7 World Index Preliminary 821.8 0.0 21.2 0.0 22.4 -0.1 26.9 EAFE Preliminai 771.6 -0.1 18.9 -0.2 24.3 -0.4 28.' Euroi Prelim inan 1106.9
      369 words
    • 59 25 Dec 8 lelivery lonth Opening Range Sett Av Price Price Hi Vol Open Done Position Low 3ecO9 2525 Ian 10 2539 =eb 10 2559 Vlar 10 2561 FotaI o/p: ***** contracts 2490 2525 2483 41 2543 2568 2517 1814 2561 2590 2535 8365 2560 2592 2540 2895 Turnover:
      59 words
    • 26 25 Dec 8 STI Dec 2797 2797 2797 IIMSCI Dec 336.3 337.8 337.2 "aiwan Dec 280.0 281.1 279.9 Source: MF Global (S) He. Ltd
      26 words
    • 22 25 Dec 8 S! Bid Offer 1-month 1.3916 1.3930 2-months 1.3919 1.3934 3-months 1.3922 1.3936 6-months 1.3926 1.3941 Source: OCBC
      22 words
    • 79 25 Dec 8 (US$) (SS) 0.***** 0.***** 1 mth 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      79 words
    • 362 25 Dec 8 URODOLLAR FUTURES DecO9 VlariO un10 >ep10 99.7400 99.6150 99.4200 99.1250 0 0 0 0 5819 9488 7177 3906 EUROYEN TIBOR FUTURES DecO9 99.5400 99.5400 VlariO 99.6150 99.6250 un10 99.6750 99.6750 >ep10 99.6650 99.6650 DedO 99.6300 99.6300 Vlar11 un11 >ep11 99.5350 99.6050 99.6550 99.6550 99.6300 99.5350
      362 words
    • 177 25 Dec 8 tUBBER Futures (Closing prices) !SS 3 (US cents/kg) /lonth High Low Close Sett Volume (lots) O/l (lots) Ian 10 =eb 10 Vlar 10 <\pr1O Vlay 10 283.0 lun 10 283.0 278.5 279.5 281.0 281.7 283.6 283.6 140 160 100 50 566 743 594 426 620 484
      177 words
    • 89 25 Dec 8 'eriod Issue code Maturity Yesterday's Bid Hi< Day's |h Low I-Month BQ*****F 11.03.2010 -Year BY*****N 01.11.2010 0.53 0.54 0.50 0.49 3OVERNMENT BONDS >eriod Issue Coupon Maturity code rate Close Bid Day's High Low !-Year NX*****H 3.625 I-Year N*****0N 1.375 '-Year N*****0S 2.875 0-Year NX*****W 2.500 5-Year
      89 words
    • 122 25 As at 9am Dec 8 >f foreign currency: Currencies Bid Offer ,ust dollar 1.2600 1.2980 dollar 1.3140 1.3300 luro 2.0500 2.0740 IZ dollar 0.9870 1.0080 iterlini ind 2.2730 2.2990 IS dollar 1.3820 1.3980 .ocal dollars to 100 units if foreign currency: Currencies Bid Offer .hi renminbi
      122 words
    • 152 25 Dec 8 Ivernight 0.08 -month 7/16 -months 9/16 l-months 11/16 Overnight mode: 3/16 IS$ Offer o.o: 3/1 5/1 7/1 Bk days month months months j months months >— I (All 0.25 0.29 0.35 0.37 0.55 0.90 1.00 Offer 0.2C 0.2' 0.2! 0.2; 0.4! 0.6( 0.7( Bi< month months
      152 words
    • 448 25 Dec 8 iuro 'en (on 'eso lam 'ouni wstralia 0.960 6.214 0.615 7.053 42.533 85.995 0.809 10.512 3.090 1.279 76.549 41.919 1.267 6.822 0.929 29.411 30.207 0.557 0.910 :anada 1.041 6.469 0.640 7.343 44.284 89.535 0.843 10.945 3.217 1.332 79.701 43.645 1.319 7.103 0.967 30.622 31.451 0.580
      448 words
    • 152 25 Dec 8 /oz) tec tec long Kong 1147.90 1159.20 GOLD BULLION COINS 6$) Sellini Bu' rim Dec 04 Dec 07 1178.40 1141.00 1 oz 1814.72 1648 UBS GOLD LUNAR KINEBAR (SS) Selling Buying .ondon Source: Thomson Reuters I Dec 08 Selling Buying 10gm SILVER Passboc $635.58 522 Selling
      152 words
    • 156 25 Dec 8 Against SS lurrencies Bid Offer Against USS Bid Offei >$/US$ to one unit of foreign currency: Australian dollar 1.2658 1.2676 0.9098 0.910; 'anadian dollar 1.3179 1.3198 0.9472 0.947' iuro 2.0584 2.0611 1.4795 1.479' IZ dollar 0.9895 0.9913 0.7112 0.711 jterlini ind 2.2724 2.2753 1.6333 1.633'
      156 words
    • 64 25 Dec 7 Co iiuiii, yy.i (US$/tonne) Close Previous :ash 2124.00 2116.51 months 2158.00 2148.01 Copper, Grade A (US$/tonne) ;ash months 6960.50 6999.00 7005.01 7040.01 .ead (US$/tonne) :ash 2240.50 months 2275.00 2334.51 2366.01 lickel (US$/tonne) ]ash months *****.00 *****.00 *****.00 unch 'in (US$/tonne) '.ash months *****.00 *****.01 *****.00 *****.01
      64 words
    • 77 25 Dec 7 (£/tonne) Close Prev Hii ih/Low Dec 09 2191 2183 2197/2163 War 10 2243 2227 2249/2216 Way 10 2263 2247 2268/2237 lul 10 2231 2226 2238/2218 IOFFEE (US$/tonne) Close Pev High/Low Ian 10 1377 1320 1377/1324 Vlar 10 1409 1356 1412/1356 Vlay 10 1440 1387 1439/1388 SUGAR (US
      77 words
    • 101 25 Dec 7 (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Jan 10 1053.00 1043.00 1061.50 1038.50 Mar 10 1061.00 1050.50 1069.25 1046.25 May 10 1069.00 1057.75 1076.75 1053.75 Jul 10 1075.75 1064.75 1083.00 1061.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 09 40.31 39.76 40.36 39.99
      101 words
    • 72 25 CRUDE OIL PRODUCTS Dec 7 origin^ IS$/barrel Close Cham irent blend (1-Mth F) 77.55 -0.88 WTI (Near Mth) 73.97 -1.61 iubai (1-Mth F) 77.83 -0.49 "apis blend 80.55 -0.25 i/linas 79.60 0.30 >RODUCT JS$/barrel (FOB S'pore) Close Change Naphtha let Kerosene 77.95 84.75 -0.70 -0.40 JS$/barrel )pec Oil Basket Price
      72 words
    • 2221 25 BONDS, WARRANTS EXTENDED SETTLEMENT [el lode Company Last Sale Vol Conv Exer +or- ('OOP) Ratio Price Disc Gear- ing flths Left Asia-Pacific Strategic W*****6 2.5 5036 Advance SCT Ltd W*****9 0.5 3756 Asiatic Grp (H) Ltd W*****2 8 1105 #Asiatravel W*****7 37 1.5 13 5878 Aztech Systems W*****6 1.5 Aztech
      2,221 words
  • Page 25 Advertisements
    • 48 25 IG Markets (ACRA No. *****621 X) holds a capital markets services licence for dealing in securities, trading in futures contracts and leveraged foreign exchange. IG Markets is also licensed to trade commodity CFDs by International Enterprise Singapore. IG Markets does not operate a securities, futures or commodities market.
      48 words

  • Page 26 Advertisements
    • 3251 26 The Business Times Shipping Times m\ __HV KPI ______8 ITO ]-BHH WAN HAI INTERNATIONAL PTE LTD UEN: *****4695 M m iifc^__P^_ r^ _Ls*_K JMwffirrrefllMw mU V\m\ iai ai_i uai i nirr tei_*****588 (mlines) fax:6224H63 I a\W I^H^^^T^l -HUm-HB MPiSrMME Y\^^i I WAN HAI INt__l PKL TEL: <0_) *****888 FAX: (03|
      3,251 words

  • Page 27 Advertisements
    • 3239 27 |'^®^VHB3BQEEE^^^^^ln c eastern car liner, ltd inj§ 53®32& I W-——^ I specialize in roro heavy lift UPTO 450 tons~| I WEEKI^ EXPRESS SAILING SCHEDULE I I^^ I IIBE™ VOY _R H m t (Kl)_ L.lhnfltKl) _JVIUA_ SIN _PKL _)KT_ BA SUR_ <LM < :E pn,,, i ,i:.,i«i,,EßM.i»LL .ÜBIHER.U..D W EMER..i..Di»..|
      3,239 words

  • EXECUTIVE MONEY
    • 757 28 Market breadth will shrink and fewer stocks will do well from this point, says Morgan Stanley. GENEVIEVE CUA reports MARKETS are entering a phase in which earnings growth becomes the crucial differentiating factor, says Henry McVey, Morgan Stanley managing director and head of global macro
      757 words
    • 1473 28  -  NICHOLAS LARKIN MILLIE MUNSHI Bloomberg Returns since 1980 can't match interest of current accounts By and [NEW YORK] Gold's best year in three decades has yet to match the returns of an interest-bearing current account for anyone who bought the most malleable of metals
      – Bloomberg; AFP  -  1,473 words
    • 709 28  -  MARK HULBERT -NYT By [NEW YORK] Sanmina-SCI, the supplier of electronics services, is loaded with debt and in each of the last eight years has lost money. Its shares have risen more than 600 per cent since the stockmarket rally began on
      -NYT  -  709 words
    • 853 29 That's the mission of Boston University professor Zvi Bodie, who is enraged at financial advisers' 'misinformation', reports GENEVIEVE CUA A US-BASED professor yesterday slammed the financial industry for perpetuating investment "fallacies" that do little to educate retail investors about risk and return. These fallacies include the
      853 words
    • 1403 29  -  NORMAN VILLAMIN Moderate expectations about the return potential available in global equity markets next year are warranted WHILE we agree with the many commentators who suggest that the events of 2007-09 year are unprecedented, such statements, we have argued over the past year,
      1,403 words
  • Page 28 Advertisements
    • 246 28 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 TOYSMART PTE. LTD. Co. Reg. Ho. *****7186K MEMBERS' VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company held on the 2nd day of December 2009, the following special resolution was duly passed: "That the Company be wound up voluntarily and
      246 words
    • 12 28 Lianhe Zaobao I Car distributor I I Tan Chong also I HffiH
      12 words

  • Page 29 Advertisements
    • 58 29 rj*r*j l_ff _J__^_^^^B mgg ftm^mmimimm a mmm f muu H |J CATS Recruit p^ w^r world of opportunities call 6-222 6868 to find out Account Serve MAIS more tOday. www.AccountSer.e.com.sg 1 (j Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868 E. A member of MCS Circulation
      58 words
  • Page 29 Miscellaneous