The Business Times, 12 December 2009

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Microfilm: NL30338
Total Pages: 48
1 48 The Business Times
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  • Title Section
    Lock icon Masthead
    18 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg I DECEMBER 12-13, 2009 Ssl.oo MICA(P) 124/08/2009 Sff!i A SINGAPORE PRESS HOLDINGS PUBLICATION
    18 words
  • Article, Illustration
    Lock icon 'Mega deals' golf retailer gets hit out-of-bounds
    754 1  -  Yen Sreenivasan Golfers' Network, known for selling cut-price equipment, falls victim to credit crunch By M;,u.-ai ven@sph.com.sg Singapore BY THIS time every year, golfers around Singapore would be making a beeline for Harbourfront Mall for the Great Golfers' Network Sale, where equipment, apparel
    FILE PHOTO  -  754 words
  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      48 1 /J/mJ!m B^^w^^^. \VIV 's^tr^^fjy www.breguet.com /jjjf H^^SSv^^^^^fcl^.' l_^^^^^^^?%sv^ Boutique Breguet, 328 North Bridge Road, #01-18 Raffles Hotel Arcade /jfij%M I'^^^^^^^^^^C^' Singapore, tel: +65 6338 6006 ojsS||| yf *I^l'^T*'S:a^^^^l ==i^^^^//(V >'"^! ?f PARIS CANNES GENEVA VIENNA LONDON X yT Ksijgf' J^MniTlTfMjn^U\\j^^'^ 'VC- NEW YORK LOS ANGELES DUBAI MOSCOW TOKYO SEOUL
      48 words
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      4 1 8"*****l"*****4' 8 '*****1 *****4
      4 words
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      178 1 The Raffles Conversation "P^-^jbsM+- CEOS' WEALTH UPS CHAIRMAN AND j$ HAWKER GUIDE Outlookforthe p CEO SCOTT DAVIS 8-9 a^KM/ Duck rice LlO-11 yearahead 30-31 The Raffles Conversation r■££&£*■ CEOS' WEALTH UPS CHAIRMAN AND HAWKER GUIDE Outlookforthe CEO SCOTT DAVIS 8-9 iSffSPr Duck rice LlO-11 yearahead 30-31 TURNING AROUND Hotel sector
      178 words
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        47 2 KL COMP 1,260.00 +0.10 NIKKEI 225 10,107.87 +245.05 HANG SENG 21,902.11 +202.07 SET 703.64 +8.93 IAKARTA 2,519.09 +32.66 MANILA 3,031.13 +24.56 KOSPI 1,656.90 +4.17 SHENZHEN B 635.30 +2.43 MUMBAI IND 17,119.03 12 nnnn EDT -70.28 Chnngrp 12 noon EDT DOW 10,463.26 Change +57.43 NASDAQ 2,196.36 +5.50
        47 words
      • Article
        Lock icon PRIME RATES
        30 2 :e: Bloomberg SINGAPORE 538 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 15.972 TAIWAN 4.696 JAPAN 1.475 KOREA 933 BRITAIN 050 US 3.25 CANADA 2.25 SWITZERLAND 0.53 INDIA 11.75 Sourc
        :e: Bloomberg  -  30 words
      • Article
        Lock icon FOREX
        48 2 us$ si US$' 1.390 'US$i /s$ lerfi 1 1.632 2.268 EURO 'US! 1.473 2.048 Foreii ;n curreno ler US$ S$ EN 88.80 63.90 RM 3.397 2.444 HK$ 7.751 5.577 BAHT 33.13 23.83 RUPIAH 9,440 6,792 RENMINBI 6.828 4.912 INDIAN RUPEE 46.55 33.49 1.092 0.786 NZ$ 1.377 0.991
        48 words
    • Article, Illustration
      Lock icon Hotel room rates start edging upward
      717 2  -  Nisha Ramchandani Occupancy rates picking up as corporate travel improves; hoteliers expect leisure travel to rise with IRs' opening By nishar@sph.com.sg Singapore WITH hotel occupancies having clawed their way up to healthier levels this quarter and tourism starting to show signs of recovery, the
      RENDEZVOUS HOTEL  -  717 words
    • Article, Illustration
      Lock icon Suntec Reit raises $149m from placement
      523 3  -  Emilyn Yap Aggregate leverage cut to 33.4% if all proceeds go towards debt repayment By emilyny@sph.com.sg Singapore SUNTEC Real Estate Investment Trust (Suntec Reit) yesterday raised net proceeds of about $149 million from a private placement to reduce debt, joining a host of other
      523 words
    • Article
      Lock icon Stimulus package wastage: US$7b Humiliation: priceless
      721 4  -  Joyce Hooi Examples of American wastage include U*****,355 given to professors to find out why young men don't like condoms By joyceh@sph.com.sg Singapore SOMEWHERE out there in the vast wilderness of crazy that is America, someone really wants to know why young men do
      721 words
    • Article, Illustration
      Lock icon Ang pow king vouches for banking spike
      343 4  -  Siow Li Sen By lisen@sph.com.sg Singapore IF anyone doubts the strong recovery of Singapore's banking sector, just ask Alvin Tan, the ang pow king who, two months before the Chinese New Year, is turning away new customers. "It was unexpected that the market
      343 words
    • Article
      Lock icon Goldman rejigs bonuses of top execs
      617 4 NYT New York GOLDMAN Sachs moved on Thursday to quell the uproar over its resurgent profits and pay, announcing that the bank's most senior executives would forgo cash bonuses this year. Instead, the 30 executives will be paid in the form of long-term stock.
      NYT  -  617 words
    • Article, Illustration
      Lock icon Where everybody knows your name
      872 6  -  Joyce Hooi NEWS ANALYSIS Facebook changes privacy settings, alarming some users By joyceh@sph.com.sg Singapore WHAT the large print giveth, the fine print taketh away. A change in Facebook privacy controls this week that purported to give its 350 million Facebook users more control over privacy
      AP  -  872 words
    • Article
      Lock icon US House nearer to passing financial rules overhaul
      512 6 Reuters Washington THE US House of Representatives was closer last night to passing the most sweeping changes in financial regulation proposed since the Great Depression. The House voted on key parts of a bill hammered out in response to last year's financial
      Reuters  -  512 words
  • Page 2 Miscellaneous
    • Miscellaneous
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      46 2 NEWS LIVING Top Stories 2-6 Food L 2-7 Week in Review 7 Travel LB-9 Raffles Conversation 8-9 CEOs'Hawker Guide LIO-IT w°r|d 22 Shopping LI2-T3 Stocks Stats 23-27 Beauty LT4 Perspective 28-29 Gadgets LTS Wealth 30-33 Sport Ll6 Househunt 34 Gctf LT7 Real Estate 35 Motoring LTB-20
      46 words
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  • Page 3 Advertisements
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      168 3 I R I 111 lilililf I P^l I H IH FT If I II II *H* fM, jfc Festive Feast at Checkers Brasserie Celebrations at The Harbour Grill Oyster Bar Lobby Level Level 3 Christmas Eve, 24th December Christmas Eve, 24th December Japanese Buffet Dinner, $IIO $I 30 with free-flow
      168 words
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  • Page 5 Advertisements
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      2709 5 X-—■v. treasury shares) in the capital of the Company from time to time and that such authority shall, unless revoked or varied by the Company in a general meeting, continue in force until the conclusion of the "sxt Annual General Meeting of the Company or the date by which the
      2,709 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK Dec 7-11,2009
      • Article
        Lock icon It's getting hotter at Sentosa Cove
        41 7 HOMES in Sentosa Cove drew strong interest from high-net-worth investors in the first 10 months of this year-more properties costing $10 million and above were transacted during this period than in the preceding four years.
        41 words
      • Article
        Lock icon Foreign fund flows into Asia equities back to 2007 levels
        47 7 FOREIGN flows into Asian equities are back to 2007 boom levels, albeit in recent weeks they have begun to abate. The Dubai crisis, growing market volatility, exceptional gains and consequently unexceptional value, have made foreign investors wary.
        47 words
      • Article
        Lock icon 01am advisers lose fees in US$4oom bond issue
        63 7 OLAM International had trouble selling US$4OO million of convertible bonds in September because convertible arbitrage funds could not borrow Olam stock for shorting, said the company's chief executive, Sunny Verghese. Lead managers JP Morgan and Standard Chartered lost all of their fees
        63 words
      • Article
        Lock icon APB gulps down Bintang in search of fatter bottom line
        63 7 THE beer market in Asia was buzzing on Monday as Asia Pacific Breweries bought controlling stakes in Indonesia's iconic Bintang beer and a leading New Caledonian brewer from Heineken. The deal, worth up to $484.4 million, could boost APB's bottom
        63 words
      • Article
        Lock icon Property investment sales tipped to climb again
        47 7 PROPERTY consultants expect $15-20 billion worth of investment sales deals to be struck next year, up from an estimated $10 billion this year. These transactions are a gauge of developers and investors' medium to long-term view of the property market.
        47 words
      • Article
        Lock icon Deflation-hit Japan bets on shaky stimulus
        55 7 THE Japanese government announced on Tuesday a basic 7.2 trillion yen (Ssll3 billion) fiscal package to maintain economic recovery. But while the proposed spending was raised slightly to placate critics within the coalition government, it may not be enough to counter renewed economic weakening
        55 words
      • Article
        Lock icon Court order sought to oust Sino-Env exec directors
        46 7 SINO-Environment Technology Group independent directors 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.
        46 words
      • Article
        Lock icon Obama mulls bailout funds for job creation
        68 7 PRESIDENT Barack Obama is looking to use money left over from a massive fund created to bolster the US financial system a year ago to pursue ways that lower dou-ble-digit unemployment. He suggested that the administration dip into the Troubled Asset Relief Program
        68 words
      • Article
        Lock icon SGX hardening rules to bring errant outfits in line
        49 7 ERRANT directors of listed companies may come under greater scrutiny from the Singapore Exchange, which could object to their appointment and rap them publicly. Proposed new rules also have more safeguards against poor governance for listings with large overseas operations.
        49 words
      • Article
        Lock icon MAS poll points to 5.5% growth in 2010
        46 7 THE economy is likely to grow 4.7 per cent in the current quarter before picking up pace in the first half of next year, with growth averaging 5.5 per cent in 2010, according to a poll of economists.
        46 words
      • Article
        Lock icon Office rents may end long slide to basement
        52 7 WHILE office rents are still expected to dip further next year, although at a much slower pace than over the past 15 months, an unexpected flurry of leasing activity recently has led some to predict a bottoming-out of office rents as early
        52 words
      • Article
        Lock icon Court freezes big asset sales by Sino-Env EDs
        38 7 INDEPENDENT directors of Si-no-Environment Technology Group were granted court orders on Thursday to restrain the company's executive directors from selling any major assets and signing new contracts of significant value.
        38 words
      • Article, Illustration
        Lock icon Japan faces a stark choice, says MM Lee
        101 7 IT'S time for Japan to make a choice either be more accepting of foreigners into its society, or risk dealing with a rapidly ageing and declining population that could hinder its economic progress in the years to come. This was the stark
        CHOW P W/LIANHE ZAOBAO  -  101 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      136 7 CRYPTIC CROSSWORD I I reportedly (5) 17... got better grass outside 22 I 123 I 124 I I (7) H^tT 111 24 Runout> 27 Extra cover >28 Cosy. (7) orders (5) IS Fain/ Di ippn rnnci imprl hx/ Down: 2 Emus, 3 Relish, 4 Spotted, tomS D°W" 5 Formula One's
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      112 7 NEXT WEEK Dec 14-18,2009 US DATA Dec 15 Producer Price Index Nov Industrial Production Nov Dec 16 Consumer Price Index Nov Housing Starts Nov Dec 17 Initial Jobless Claims Leading Indicators Nov SINGAPORE DATA Dec 15 Retail Sales and Catering Trade Indices Oct Dec 17 Merchandise Trade Nov EVENTS Dec
      112 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Delivery Czar
      2142 8  -  Amit Roy Choudhury UPS boss Scott Davis combines a concern for the environment with a strong belief in the merits of globalisation. By S THE person who oversaw the delivery of 3.9 billion packages and documents last year, Scott Davis is very conscious about his company's carbon footprint
      ARTHUR LEE  -  2,142 words
    • Article
      Lock icon Raffles Hotels & Resorts
      75 8 Raffles Hotels Resorts Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and
      75 words
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  • COMPANIES
    • Article
      Lock icon Hwa Hong to sell insurance unit for $95m
      566 9  -  Conrad Tan MOU signed for sale of Tenet Insurance; CIMB Bank named financial adviser By conradt@sph.com.sg Singapore HWA Hong Corporation has signed a non-binding agreement to sell its general insurance unit Tenet Insurance Company for $95 million in cash. Hwa Hong said
      566 words
    • Business briefing
      • Article
        Lock icon Freight Links Q2 profit down 35%
        73 9 FREIGHT Links Express Holdings Ltd has reported that net profit for the fiscal second quarter to end October fell 35 per cent to $761,000. Revenue was down 17 per cent at $30.69 million. Core freight forwarding turnover weakened due to lower freight rates and
        73 words
      • Article
        Lock icon Datapulse Q1 earnings drop 32%
        135 9 DATAPULSE Technology Ltd has reported that net profit for the fiscal first quarter ended Oct 31, 2009, fell 32 per cent to $3.94 million. Datapulse, a provider of CD and DVD services in the Asia Pacific region, saw revenue for the period fall by 30
        135 words
      • Article
        Lock icon Beyonics Q1 net profit dives
        80 9 BEYONICS Technology Ltd has reported that net profit for the fiscal first three months ended October 31, 2009 fell almost 64 per cent to $2.04 million, compared to a year ago. Basic earnings per share in Ql fell to 0.38 cents from 1.05 cents a
        80 words
      • Article
        Lock icon Van der Horst Energy ups Novena stake
        77 9 VAN der Horst Energy Ltd said it has bought another 10 million Novena Holdings Ltd's shares via a married deal for $2.2 million. The purchase, representing a 2.37 per cent stake, was paid in cash and funded through internal resources. On July 6,
        77 words
    • Article
      Lock icon SIA Engineering to restore wages
      190 9  -  Jamie Lee By leejamie@sph.com.sg Singapore FROM the start of 2010, Singapore Airlines Engineering will restore wage cuts of between 10 per cent and 20 per cent that were in place between lune and December this year. The aircraft maintenance company will also remove the no-pay
      190 words
    • Article
      Lock icon Popular unveils rights issue
      148 9 POPULAR Holdings has proposed a rights issue. It also reported a net profit of $1.3 million for the second quarter ended Oct 31, up 378 per cent from $271,000 a year ago. Turnover rose 14 per cent to $111.91 million, helped by its maiden One Robin
      148 words
    • Article, Illustration
      Lock icon Nomura rates Parkway, Biosensors a 'buy'
      428 10  -  Oh Boon Ping It is bullish on Asia Pacific healthcare sector amid higher demand, China sectoral reforms and increased outsourcing By huwenbin@sph.com.sg Singapore INVESTMENT house Nomura, which is bullish on the Asia Pacific healthcare sector, has issued "buy" calls on Singapore's Parkway and Biosensors
      BLOOMBERG FILE PHOTO  -  428 words
    • Article
      Lock icon Algorithmic trading course at SGX
      162 10  -  Oh Boon Ping By huwenbin@sph.com.sg Singapore SINGAPORE Exchange has launched the SGX Academy Algorithmic Trading Initiative to upgrade professional traders' algorithmic trading capabilities. A joint initiative with the Association of Financial and Commodity Traders (Singapore), the project will feature intensive, hands-on workshops with expert-level trainers
      162 words
    • Article
      Lock icon Low Keng Huat Q3 net profit up 28%
      482 11  -  Arthur Sim Group forms joint venture firm with National Oil Services Company of Vietnam By simska@sph.com.sg Singapore LOW Keng Huat (Singapore) Ltd (LKH) has reported a net profit of $16.6 million for its fiscal third quarter ended Oct 31,2009, an increase of
      482 words
    • Article
      Lock icon CapLand aims for 5,000 homes a year in China
      270 11  -  Uma Shankari Reports by shankari@sph.com.sg Singapore CAPITALAND, which has a pipeline of more than 14,000 homes in China, said yesterday that it plans to launch an average of 5,000 homes a year there with its strategic partners. The property group celebrated
      270 words
    • Article, Illustration
      Lock icon Ascott to manage third Xian property
      221 11 CAPITALAND'S wholly owned service residence unit, The Ascott, has clinched a contract to manage Citadines Xian Xingqing Palace, its third service residence in Xian, China. Ascott's two other service residences in Xian are Citadines Xian Central, which is already operating, and Citadines Xian Gaoxin,
      221 words
    • Article, Illustration
      Lock icon Potential dual listings feature in dull week
      885 12  -  R Sivanithy STOCKS sivan@sph.com.sg Senior correspondent POTENTIAL dual listings provided the main feature of a generally lacklustre week for the local stock market. Interest in such stocks was sparked by the listing of fertiliser firm China XLX in Hong Kong on Tuesday at
      885 words
    • Article, Illustration
      Lock icon UOB fund bets on firm making e-book display modules
      619 12 Reuters Singapore A TOP-PERFORMING Asia exJapan fund of UOB Asset Management expects demand for electronic book readers to grow exponentially and is making a big bet on a small Taiwanese firm that makes the display modules. Paul Ho, manager of the
      Reuters; REUTERS  -  619 words
  • Page 9 Advertisements
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  • Page 10 Advertisements
    • Advertisement
      Lock icon Page 10 Advertisements Column 1
      60 10 MATHS COACHING FOR LOCAL Jl^. INTERNATIONAL SCHOOLS GRADE 1 TO GRADE 10 IGCSE (Extended, CIM, Additional Maths) IB (Studies, Standard, Higher) rf*^W tsjr INTENSIVE DECEMBER HOLIDAY WORKSHOP TEST SERIES FOR IGCSE IB STUDENTS APPEARING IN MAY 2010 #02-14 KATONG PLAZA, 1, BROOKE ROAD, gS£ Divesh Shah SINGAPORE *****9 im 9346
      60 words
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      Lock icon Page 10 Advertisements Column 2
      164 10 Btcsutess Cutss 7/v ul& Ci£i/ SRC'S THE RESIDENCE/ With 23 deluxe rooms and 3 suites, in a central location conveniently located near the business district, major attractions and shopping centres. The Residence at the Singapore Recreation Club offers travellers an oasis of entertainment and pleasure. i i 23 Brand New
      164 words
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  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      431 11 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGAPORE COMPONENT PTE LTD REG. NO. *****2970N [IN MEMBERS' VOLUNTARY LIQUIDATION! NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company deemed to be held on 9 December 2009, the following
      431 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon The world's your (online) oyster
      822 13  -  Farhad Irani If you are a retailer today and you're not offering your customers the ability to participate in e-commerce, you're going to lose out to another retailer who does FROM THE DESK OF Business manager and vice-president, Pay Pal, Asia Pacific NE of the
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  • SINGAPORE
    • Article
      Lock icon SocGen Private Banking to put on more heft
      546 14  -  Jamie Lee It expects to double its assets under management in Asia within four years By leejamie@sph.com.sg SOCIETE Generale's private banking arm expects to double its assets under management (AUM) in Asia within four years to tap burgeoning wealth in the region,
      546 words
    • Article, Illustration
      Lock icon Park Hotel Group ends year on high note
      245 14  -  Arthur Lee By authurl@sph.com.sg THE brief was simple. Stroll down Orchard Road's pedestrian mall with a giant luggage trolley and two stilt walkers in tow for a high viewpoint. Look out for hapless shoppers with heavy festive loads and lend a helping
      ARTHUR LEE  -  245 words
    • Article
      Lock icon Stanchart moves to enhance board, governance
      320 14 THE Standard Chartered group yesterday announced changes to enhance the experience, depth and diversity of its board and strengthen the group's corporate governance. Three new independent non-executive directors, a senior independent director and a new group executive director have been appointed. Stanchart also said
      320 words
    • Briefing
      • Article
        Lock icon Temporary office for marriage registries
        54 15 THE Registry of Marriages and Registry of Muslim Marriages will operate out of a temporary office at the Ministry of National Development Building in Maxwell Road from Jan 26, 2010 to February 2011. The public can continue to call the main lines of both registries
        54 words
      • Article
        Lock icon URA sells Pioneer industrial site for $19m
        40 15 THE Urban Redevelopment Authority has sold an industrial site at Pioneer Road North/Soon Lee Drive to KNG Realty for $19.4 million. The site, which is about 19,000 sq m, has a 30-year lease.
        40 words
      • Article
        Lock icon Spore, China ratify 2nd protocol to tax pact
        58 15 SINGAPORE and China have ratified a second protocol to the standing agreement for the avoidance of double taxation (DTA), the Ministry of Finance said yesterday. Amendments have been made to articles 5,11 and 22 of the current DTA, which are on permanent
        58 words
    • Article, Illustration
      Lock icon Shell cautiously optimistic over $3b petrochem complex
      676 15  -  Ronnie Lim Its ability to use feedstock from Bukom refinery makes it competitive By ronnie@sph.com.sg SHELL Chemicals is "cautiously optimistic" on market prospects for its new US$3 billion Singapore petrochemical complex that will be fully operating by the first quarter of next year,
      ALPHONSUS CHERN/ST  -  676 words
    • Article, Illustration
      Lock icon Organising Apec meet is no mean feat: PM
      557 16  -  Lee U-Wen He pays tribute to all the people who made Singapore's term as chair of the grouping a success By leeuwen@sph.com.sg PRIME Minister Lee Hsien Loong graced a reception last night to thank the scores of volunteers and officials who helped
      AZIZ HUSSIN/ST  -  557 words
    • Article
      Lock icon REC invests $2m in R&D with Seris
      217 16 NORWAY-based Renewable Energy Corporation (REC) signed a $2 million research contract with the Solar Energy Research Institute of Singapore (Seris) yesterday. The research will go towards supporting the growing solar sector in the region. "Such collaborations between industry and our publicly funded research
      217 words
    • Article
      Lock icon Big names at Inter-Pacific Bar Association seminar
      182 16 AS the debate over climate change heats up in Copenhagen, an all-star lineup has been put together for the 20th annual conference of the Inter-Pa-cific Bar Association (IPBA) in Singapore next year. Slated for May 2-5, 2010, the conference theme is "Climate Change
      182 words
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  • LETTER FROM ABROAD WITH ASCOTT
    • Letter, Illustration
      Lock icon Travels in a green and pleasant land
      911 17  -  Gerard Toh LETTER FROM LONDON Assistant manager, financial services audit, KPMG LLP While London is a very cosmopolitan city, we do not feel that far away from home. This is because of the large number of Singaporeans working or studying here. We invite
      911 words
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      211 17 ASCOTT KUALA LUMPUR ill YEAR-END CELEBRATORY OFFERS promotion rates from t '*-nliw 1 J Right in the heart of town and a stroll away from the world famous Petronas Twin K. A\/n f~ I"" 1 --L Towers, Ascott Kuala Lumpur enjoys a prestigious address. The Suria KLCC Shopping /y\ |fx
      211 words
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      Lock icon Page 17 Advertisements Column 2
      14 17 THE ASCOTT GROUP AMembsrofCapitaLand This series is brought to you by The Ascott Group
      14 words
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  • WORLD
    • Article, Illustration
      Lock icon India sticks with stimulus despite growth
      575 18 AFP, Bloomberg Central bankers and the government are fearful of jeopardising economic recovery New Delhi INDIA'S car sales are racing ahead, mobile phone sales are booming and share prices have rocketed, but policymakers are signalling a go-slow approach to ending economic stimulus and hiking
      AFP, Bloomberg; AFP  -  575 words
    • Article
      Lock icon EU to commit 2b euro to climate fund
      492 18 AP Brussels EU nations will commit more than two billion euro (US$4.l billion) a year to help poorer countries combat global warming, the leaders of Britain and France said yesterday as they sought to bolster climate talks in Copenhagen. Britain's Gordon Brown
      AP  -  492 words
    • Article
      Lock icon Former Korean PM joins Stanchart board
      282 18 Reuters London STANDARD Chartered appointed a former prime minister of South Korea, a past finance director of HSBC and the finance director of AstraZeneca to its board yesterday, to boost governance at the Asia-focused bank. London-listed Standard Chartered said that the trio would increase
      Reuters  -  282 words
    • Article
      Lock icon New Asia iron ore negotiator at Rio
      292 19 Bloomberg Melbourne DANNY Goeman will become marketing general manager of Rio Tinto Group's Asian iron ore unit, Nick Cobban, spokesman for the London-based company, said on Thursday. Mr Goeman will report to Will Malaney, who was Rio's previous chief contract negotiator with steelmakers.
      Bloomberg  -  292 words
    • Article, Illustration
      Lock icon China recovery gathers pace
      764 19 Reuters, AP Export slump eases, imports up and consumer prices rise more than expected Beijing CHINESE industrial output surged in November to its fastest pace since June 2007, underlining the economy's brisk recovery from the global downturn and accompanying the return of consumer inflation. Output rose
      Reuters, AP; AFP  -  764 words
    • Article
      Lock icon New procurement rules may favour China firms
      163 19 Bloomberg Beijing US, JAPANESE, South Korean and European trade groups are "deeply troubled" by new procurement rules proposed by China's government that may favour domestic companies in the purchasing of computers, telecommunications equipment and software. A government notice posted last month implemented a
      Bloomberg  -  163 words
    • Article, Illustration
      Lock icon Khazanah trims stake in Tenaga Nasional
      550 20  -  Pauline Ng Placement of 87m shares follows PM Najib's promise to pare govt holdings in Malaysia's GLCs By btworld@sph.com.sg Kuala Lumpur FEDERAL Investment agency Khazanah Nasional has placed out 87 million shares or 2 per cent of electricity provider Tenaga Nasional this week for
      REUTERS  -  550 words
    • Article
      Lock icon Nintendo drags US video-game market lower
      422 20 Bloomberg San Francisco NINTENDO Co led the US vid-eo-game market to its eighth drop in nine months after sales of the mo-tion-sensing Wii console tumbled, narrowing its lead over Sony Corp's Play Station 3 and Microsoft Corp's Xbox 360. Wii sales dropped 38 per
      Bloomberg  -  422 words
    • Article, Illustration
      Lock icon Up public spending: Japan minister
      663 21  -  Anthony Rowley Economy will deteriorate further if government budget for fiscal 2010 falls below 95t yen By btworld@sph.com.sg Tokyo JAPAN is "in the middle of a deflationary spiral" and the government must be prepared to spend its way out of trouble despite the already high
      REUTERS  -  663 words
    • Article
      Lock icon Indian energy giant to raise USslb in refinancing
      332 21 Bloomberg New Delhi OIL Natural Gas Corp (ONGC), India's biggest energy explorer, plans to raise US$l billion in a month to refinance debt its unit incurred in the purchase of UK-based Imperial Energy pic amid current low interest rates. ONGC has tied
      Bloomberg  -  332 words
    • Article
      Lock icon Hatoyama's bond target dilemma raises policy doubt
      351 21 Reuters Tokyo JAPANESE Prime Minister YuMo Hatoyama said he has not given up on capping new bond issuance next fiscal year at the government's target of 44 trillion yen (*****.8 billion) but acknowledged it would be hard to meet, casting doubt on the
      Reuters  -  351 words
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  • SGX
    • Article
      Lock icon Transaction date: Dec 11
      8960 22 Ugh Low Code Company Sale C000) High Low Buyer Seller C'vr P/E Smil 7 L5 14 5.5 I !3 13 I 6 12 4 L5 6.5 3.5 ji 15.5 I L5 S 0 10 33 1.5 11 I "7 '2.5 !0 15.5 !8 16 j>5 _17
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    • Article
      Lock icon SGX CATALIST
      1568 25 SZ-wks Tel High Low Code Company Last Sale Vol ('000) Day High Low Last Quote Buyer Seller Div GrYld C'vr Net P/E M Cap Smil 10 5 1181 s AA Grp 25 12 8538 t APStrategic 4 0.5 1501 s Advanced System 7.5 3.5 3480 t Adventus 20
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      Lock icon SECURITIES TRADING SCOREBOARD
      101 25 Up Down Unch 3 8 4 Up Down Unch 0 0 0 Up Down Unch 3 8 4 lulti Ind lanufacturini 51 55 78 10 58 59 88 'ommerce 21 18 28 25 20 33 /Stor/ /Comms 18 13 12 20 14 12 :inance 15 11 15
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      Lock icon SECURITIES TRADING TURNOVER
      256 25 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
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      Lock icon BT SHARE INFORMATION SERVICE
      816 25 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Dec 7 Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per ShrS SHAREHOLDING Before After ('000) ('000) Stock Achieva Ltd 9-Dec-09 hfinio Grp Ltd 9-Dec-09 PCA Tech Ltd 9-Dec-09 JES Intl Hldgs 9-Dec-09 Achieva Ltd
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  • MARKETS
    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 26 Source: YTD change: +58.99% 52-week high: 2,808.38 on Dec 9,2009 52-week low: 1,455.47 on March 10,2009 Bloomberg
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        Lock icon Hang Seng Index
        20 26 Source:! YTD change: +52.23% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 11,344.50 on March 9,2009 Bloomberg
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      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        25 26 YTD change:+lB.s7% 52-week high: 10,516.70 on Dec 4,2009 52-week low: 6,469.95 on March 6,2009 (Chart shows Thursday's index closing) Source: Bloomberg
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
        366 26 In local curr In S$ In US? dy yr dy yr dy yr Index Change Change Change Change Change Change Dec 10 World Index Preliminai 813.5 0.5 20.0 0.5 21.0 0.5 25.4 EAFE Preliminai 758.2 0.3 16.8 0.2 21.9 0.2 26.. Euroi Preliminai 1090.7 0.9
        366 words
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        Lock icon Shanghai Stock Exchange Composite
        21 26 YTD change: +78.35% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 1,814.75 on Dec 31,2008 Source: Bloomberg
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      • Article, Illustration
        Lock icon Nikkei 225
        18 26 Source: YTD change:+l4.o9% 52-week high: 10,767.00 on Aug 31,2009 52-week low: 7,021.28 on March 10,2009 Bloomberg
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      • Article
        Lock icon LIFFE
        75 26 Dec ?o| 1 (£/tonne) Close Prev Hi! jh/Low )ecO9 2214 2204 2217/2196 dariO 2276 2266 2277/2252 day 10 2295 2287 2297/2274 lul 10 2270 2263 2272/2259 lOFFEE (US$/tonne) Close Pev High/Low Ian 10 1382 1373 1385/1359 dar 10 1413 1406 1419/1395 day 10 1438 1436 1446/1427 SUGAR (US tonne)
        75 words
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        Lock icon CHICAGO BOT
        93 26 Dec ;o| iNS (5,000 bu min; USc/60 Ib bushels) Close Previous High/Low Jan 10 1027.*****8.*****3.*****9.00 Mar 10 1035.*****7.*****2.*****8.25 May 10 1042.*****5.*****4.*****5.50 Jul 10 1047.*****2.*****5.*****0.75 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low Dec 09 39.09 38.90 39.13 38.90 Jan 10 39.45 39.27 39.79 39.19 Mar 10 39.87 39.69 40.21
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        Lock icon OIL
        73 26 Dec ?o| USS/barrel (FOB origin) Close Change Brent blend (1-Mth F) WTI (Near Mth) Dubai (1-Mth F) Tapis blend Minas 72.59 -2.81 70.48 -0.40 73.27 -3.27 75.95 -3.35 75.20 -3.35 PRODUCT USS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 76.45 -3.05 80.20 -2.65 USS/barrel Opec Oil Basket Price 71.43
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        Lock icon METALS
        62 26 Dec 1 ;us$/oz; Dec 11 Dec 10 Hong Kong 1137.*****7.30 Dec 10 Dec 09 London 1123.*****2.50 1124.*****3.30 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.36 24.13 PLATINUM Lon (US$/oz) Dec 10 Close Previous PM Fix 1416.*****2.00 AM Fix 1413.*****4.00 Source: Thomson Reuters PLATINUM /NYMEX (US$/oz) Dec 10
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        Lock icon INTERBANK CURRENCY RATES
        151 26 Dec li\ Against S$ Currencies Bid S$/US$ to one unit of foreign currency: Australian dollar 1.2716 Offer 1.2735 Against US? Bid Offer 0.9154 0.9158 Canadian dollar 1.3222 1.3240 0.9518 0.9521 Euro 2.0463 2.0492 1.4731 1.4736 NZ dollar 1.0083 1.0103 0.7259 0.7265 Sterlini 2.2663 2.2695 1.6315 1.6320 US
        151 words
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        Lock icon PALM OIL
        64 26 Dec li\ KLCE PALM FUTURES Deliver/ Opening Month Range ;rm/mt) Sett Av Price Price Low Voi Done Open Position Hh Dec 09 2455 Jan 10 2493 FebiO 2526 MariO 2530 Total o/p: ***** contracts 2441 2465 2451 2494 2499 2483 2530 2535 2505 2537 2538 2510 Turnover: *****
        64 words
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        Lock icon LONDON METALS
        67 26 Dec ?o| Uuminium, 99.7% mrity (US$/tonne) Close Previous lash months lopper, Grade A 2165.75 2203.00 2175.75 2212.00 ;uS$/Lonne) lash J months .ead (US$/tonne; 6770.75 6810.00 6905.50 6945.00 lash months 2241.50 2275.00 2246.50 2281.00 lid tonne) lose 'revious ;ash months "in (US$/tonne; *****.00 *****.00 *****.0( *****.0( lash months *****.00
        67 words
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  • PERSPECTIVE
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      Lock icon Vaccines: A shot in the arm
      1290 27  -  Linda A Johnson AP Drugmakers now view vaccines as a crucial path to growth, as the sector is shedding its image as a sleepy, low-profit niche in the booming drug industry By Marietta, Pennsylvania MALARIA. Tuberculosis. Alzheimer's disease. AIDS. Pandemic flu. Genital herpes. Urinary
      AP; REUTERS  -  1,290 words
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      Lock icon US will work with others to tackle climate change
      732 27  -  Daniel Shields By THE United States is committed to achieving the strongest possible outcome at the UN climate conference in Copenhagen. To demonstrate both this commitment and our interest in seeing the global community meet this goal, President Barack Obama will
      732 words
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Growth stages
        1665 28  -  Shane Oliver Just as the investment cycle goes down, it also goes up. Right now it is still early days in the upswing. By T the start of 2009, fear of a complete financial meltdown was rife. There was much doubt as to whether the massive and unrelenting
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        Lock icon brokers' take
        815 28  -  Jamie Lee Technology Sector Neutral OCBC Investment Research Dec 11 SUNSHINE after a turbulent year: After a tumultuous year, we are optimistic that technology companies are likely to post a meaningful recovery in sales in 2010, driven by bright spots within various market segments. Within the semiconductor industry,
        815 words
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        Lock icon Asian corporate credit spreads remain elevated
        1013 29  -  Mah Ching Cheng WEALTH INSIGHT With Asian economies expected to recover in 2010, there is a strong likelihood central banks may no longer be able to hold off raising benchmark rates First State Investments WHAT has happened to credit markets since the global financial
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    • WEALTH REAL ESTATE
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        Lock icon Bland CEOs versus raging egomaniacs
        1210 30  -  Teh Hooi Ling SHOW ME THE MONEY Are the world's best leaders flamboyant visionaries or self-effacing individuals? We explore the options hooiling@sph.com.sg Senior correspondent HE Schumpeter column in The Economist a month back wrote about The Cult of the Faceless Boss. In it, the columnist
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        Lock icon Construction costs in Singapore slide: study
        592 32  -  Emilyn Yap Fall takes nation's index close to Dubai's; most cities showing a rise are in China, including Beijing, Shanghai, Guangzhou and Shenzhen By emilyny@sph.com.sg Singapore CONSTRUCTION costs in Singapore have dropped more than those in other cities, a study by Rider Levett Bucknall
        YEN MENG JIIN  -  592 words
      • Article
        Lock icon US apartment vacancy rate set to remain high in 2010
        487 32 Reuters New York THE US apartment vacancy rate is expected to remain high in 2010 and rent growth is not seen to resume until 2011, according to a forecast by CBRE Econometric Advisors. CBRE-EA, the market forecasting arm of real
        Reuters  -  487 words
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  • Page 31 Advertisements
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      Lock icon Page 31 Advertisements Column 1
      815 31 PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) District 11 CarissaParkCdo Apt I 24/11/2009 FH 646 500 774 NON-LANDED EstellaGdn Apt 20/11/2009 FH 1292 830 642 AmaryllisVille Apt I 19/11/2009 99 980
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      33 33 1 JMjUWr*^\ -Hi l»\^\^^B .I--' r--'" iM tt\ \^Ss/ l|■ y^',:*3J^d 11 Ultakku,/ K^. Mil if[ £f iW^ tf *J MILLENARY DEADBEAT SECONDS AND AP ESCAPEMENT For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com
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  • Page 34 Miscellaneous
    • Miscellaneous
      Lock icon Page 34 Miscellaneous Column 1
      40 34 A TASTE OF SPAIN jQ Top Catalan restaurants, hip eateries, A*6 and the finest produce money can buy fcw^^ Ei\J rflHB Cray' y« 5- >. Mti fr M w i^Hk' Till mfrJ Baft- Jr iv k> ™1 »Vl PHOTO: JAIME EE
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  • BT Living
    • DINING
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        Lock icon A taste of Spain
        2065 35  -  Jaime Ec Not too many of us in Singapore know about the marvellous produce of northern Spain. But this may be about to change. By HEN Peter Piper F picked a peck of I pickled peppers, I he had no idea what else he was I
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        Lock icon Catalan supremacy
        2096 36  -  Geoffrey Eu Jaime Ec Jaime Ec Ferran Adria, the Roca brothers, Santi Santamaria they helm three top dining establishments in Catalonia and, with their total haul of nine Michelin stars, are truly culinary names to conjure with elßulli Cala Montjoi, Ap.3o ***** Roses, Girona, Spain S +34 972
        ELBULLI PHOTOS BY ROGER LIM  -  2,096 words
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        Lock icon Two for the money
        1098 37  -  Jaime Ec Raul Balam brings meticulous planning to the newly opened Restaurant Moments, while Andoni Anduriz continues to surprise at Mugaritz. By Restaurant Moments Mandarin Oriental Barcelona Passeig de Garcia, 38-40 ***** Barcelona Si+34 93 151 88 88 mobcn-momentsamohg.com IN A slight twist to the "if
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        Lock icon Deliriously affordable
        1189 38  -  Jaime Ec DARK PASSION Enric Rovira is to all intents and purposes an artist with chocolate as his medium instead of oils and canvas BRIGHT IDEA Flash Flash's quirky decor features multiple life-sized black and white images of the owner's wife on the walls. In each image, she
        FLASH FLASH PHOTOS BY MONTSE GARRIGA  -  1,189 words
    • TRAVEL
      • Article, Illustration
        Lock icon BARCELONA DREAMING
        1016 39  -  Jaime Ec Two brand new hotels offer contrasting perspectives of the city. By Mandarin Oriental Barcelona Passeig de Gracia 38 ***** Barcelona S+34 93 151 88 88 AT THE rate people were milling about the entrance to the point that security guards and barriers had to be deployed
        1,016 words
    • CEOS' HAWKER GUIDE
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        Lock icon Duck tales
        1588 40  -  Geoffrey Eu BT Weekend goes on the hunt for the best duck around town. By DUCKS are among the more versatile creatures in the Singapore food chain and play a highly significant role in the local diet. Evidence of this can be found in the hundreds of hawker
        PHOTOS: ARTHUR LEE  -  1,588 words
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        Lock icon Foodie with benefits
        645 40  -  Audrey Phoon Jonathan Chow Managing Director Beam Global Asia By IT may be our imagination, but the styled, spiky tips of Jonathan Chow's hair seem to stand at attention just that much more, and his eyes gleam brighter, when he switches from talking about his work in
        YEN MENG JIIN  -  645 words
    • SHOPPING
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        Lock icon Just eat it
        886 41  -  Audrey Phoon What better Christmas gift than a gourmet treat for those who have everything? Here are some suggestions for the season. By Saint Pierre classic portand armagnac-marinated foie gras terrine ($2l per 100g) Send out some Christmas spirit in the form of port and armagnac buried
        886 words
    • BEAUTY
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        Lock icon Say goodbye to bad hair days
        733 42  -  Melissa Lwee Wigs and hair extensions are the new fashion accessories, allowing women to change their looks to suit their mood. By SOMETIMES changing your hairstyle can be a daunting process. After all, once your locks are lopped off and you don't like the
        733 words
      • Article, Illustration
        Lock icon Extensions without tears
        534 42 WHILE there's no doubting the versatility of hair extensions, many high-end coiffeurs don't want to do it because of the high probability of damage to the hair. But the latest offering from celebrity hairstylist Kirn Robinson looks set to turn things around. The new hair extension technology
        534 words
    • GADGETS
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        Lock icon LORD OF THE RINGS
        750 43  -  Christopher Lim HTC, Nokia, RIM and Sony Ericsson show off the breadth of variety in the phone market today. By DESPITE the frenzied iPhone price war now going on between Sing Tel, Ml and Star Hub, not everyone wants one of Apple's wonder phones. If you're
        750 words
    • SPORT
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        Lock icon Rising to the occasion
        759 44  -  Lee U-Wen no holds barred leeuwen@sph.com.sg Correspondent IF anyone asks you who could possibly be the new world No 1 tennis player next year, look no further than the season-end-ing ATP World Tour final that took place in London two weeks ago. The two men who
        AP  -  759 words
      • Article
        Lock icon When it comes to marathons, bigger isn't always better
        1004 44  -  Anna Teo By ORGANISERS of the Standard Chartered Singapore Marathon and any of the other distance events here, for that matter couldn't be more mistaken if they persist with the idea that bigger means better. And deluded, too, if they believe
        1,004 words
    • GOLF
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        Lock icon Teeing off for charity
        1091 45  -  Justine Moss The uncertain economic climate has not stopped individuals and smaller organisations from going all out to help worthy but less well known causes. By THE past 15 months have been a challenging time for charities aiming to raise funds through charity drives and other
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    • MOTORING
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        Lock icon In the fast lane again
        571 46  -  Samuel Ec Ital Auto's inaugural driveaway included a detour to the palace of the Sultan of Selangor. By FERRARI owners fired up their V 8 and Vl2 engines last weekend and powered up north on the first driveaway to be organised by distributor Ital Auto.
        571 words
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        Lock icon Grand touring – Tiguan style
        667 47  - Grand touring Tiguan style Samuel Ec As with most VWs, the Tiguan also has nice, accurate steering and reassuring roadholding THE best thing about Barcelona is that there are so many places to find good food and great sights. But the bad thing about it is that these are usually
        667 words
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        Lock icon WIFE-FRIENDLY WRX
        423 48  -  Samuel Ec The Subaru Impreza WRX STI A-Line offers everyday useability. By ALWAYS wanted to get the macho-looking WRX STI but never quite managed to convince the wife because of its manual transmission? Your best chance has just been driven into the showroom. The Subaru Impreza WRX STI
        423 words
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      1180 39 Wine^ Cline with BTWeekend Pine Court Chinese Restaurant tapas. For more information, call 6826-8240 or email Level 35, Orchard Wing celebrate.sin@panpacific.com. Meritus Mandarin Singapore, 333 Orchard Road 6831-6288 Relish exquisite Cantonese cuisine especially created by master j ne g t Regis Singapore chefs. Traditional recipes take on refreshing interpretations in
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