The Business Times, 1 December 2010

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Total Pages: 32
1 32 The Business Times
  • 24 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, December 1, 2010
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  • 868 1  -  S’pore companies consult experts as ‘draconian’ law could expose them to big fines By EMILYN YAP [SINGAPORE] Doing business in the United Kingdom will become trickier come April next year when tough new anti-bribery laws take effect. Singapore-based companies with operations there are
    BLOOMBERG  -  868 words
  • 145 1 H ST INDEX 3,144.70 (-13.51) H ST INDEX FUTURES 3,136 (-28) H SIMSCI 371.77 (-0.16) H SIMSCI FUTURES 370.70 (-1.30) FOREX US$ S$ US$ (S$ per US$) 1.318 (US$/S$ per 1.557 2.052 EURO (US$/S$/E) 1.313 1.730 Foreign currency per US$ S$ YEN 84.00 63.70 RM 3.150 2.391 HK$
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  • 519 1  -  By TEH TEH SHI NING [SINGAPORE] The Public Service, Singapore’s largest employer, will offer re-em-ployment to workers who reach retirement age from July 2011. Delivering on earlier promises to take the lead in this, the Public Service Division (PSD) yesterday issued guidelines
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  • Page 1 Advertisements
    • 57 1 HOCK LOCK SIEW Is high liquidity enough to keep buying? PAGE 6 COMMENTARY Why US can’t churn out a rerun of Plaza Accord EN BLOC SALE Hawaii Tower to be launched again PAGE 12 TRANSPORT HUB Used car dealer group lists inventory online PAGE 24 PAGE 20 EXECUTIVE MONEY How
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    • 3 1 8 '*****1 *****4
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    • 29 1 Leaders in financial risk management across Asia. Derivatives House of the Year 1 Best Derivatives House 2 Best Commodities Derivatives House 2 Credit Derivatives House of the Year 3
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  • TOP STORIES
    • 558 2 Firms sweat over new UK anti-bribery laws DOING business in the United Kingdom will become trickier come April next year when tough new anti-bribery laws take effect. Singapore-based companies with operations there are already seeking professional advice on how they can stay on the right side of the
      558 words
    • 573 2  -  June employment for ages 25-64 at new high; jobless rate falls to 3.2% By CHUANG PECK MING [SINGAPORE] The strong economic recovery has lifted the employment for Singaporeans and Permanent Residents in the 25-64 age group to a new high of 77.1 per cent
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    • 567 2 Reuters [LISBON] The eurozone’s debt crisis deepened yesterday as investors pushed the spreads on Spanish, Italian and Belgian bonds to euro lifetime highs and Portugal warned of “intolerable risks” facing its banks. The euro dipped below US$1.30 for the first time
      Reuters  -  567 words
    • 590 2  -  By EMILYN YAP [SINGAPORE] NTUC Choice Homes Co-operative (NCH) and Chip Eng Seng (CES) are launching an executive condominium (EC) project in Punggol with a surprising feature a deferred payment scheme (DPS). Many in the property industry had assumed that the DPS was entirely
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    • 546 3  -  Judge rejects the AGC’s application to keep the firm’s assets frozen By MICHELLE QUAH [SINGAPORE] The contro-versy-plagued Profitable Plots which is being probed by the Commercial Affairs Department (CAD) following complaints from some investors scored a victory of sorts yesterday when the High Court
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    • 548 3  -  Leaked memos hint that Beijing has less pull than thought By MALMINDERJIT SINGH [SINGAPORE] Views that China values North Korea as a useful ally may be misplaced as US State Department documents posted by whistle-blower Wikileaks indicate. The memos, originating from the US
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    • 389 3 AFP [WASHINGTON] WikiLeaks founder Julian Assange has claimed a fresh “megaleak” will target a major US bank “early next year”, according to an interview published on Monday. Speaking to Forbes magazine, Mr Assange said that he was ready to unleash tens of thousands
      AFP  -  389 words
  • Page 2 Advertisements
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  • COMPANY NEWS
    • 343 4 Its chairman also expects to see yuan share trade in 2011 Reuters [HONG KONG] Hong Kong Exchanges and Clearing Ltd (HKEx) is open to potential merger and acquisition opportunities that will enhance its operations, its chairman Ronald Arculli said yesterday. His comments are the first
      Reuters; BLOOMBERG  -  343 words
    • 385 4  -  R&Y Hldgs makes formal delisting offer to the company at $0.53 a share By LYNETTE KHOO THE controlling shareholders of Reyoung Pharmaceutical Holdings have proposed to take it private at $0.53 per share making the company the latest among neglected S-chips to
      385 words
    • 518 4 Reuters HEDGE funds investing in developing Asia have begun to attract money from investors after a poor first half of 2010 when many were hurt by outflows despite strong interest in emerging markets, industry players said. Global investors have been pouring
      Reuters  -  518 words
    • 715 6  -  It edges 0.62% lower to $823b; Citi sees more upside across most of Asia By JAMIE LEE SINGAPORE’S market capitalisation slipped 0.62 per cent over the month to end at $823 billion, as concerns over eurozone debts and fresh political tensions
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    • 642 6  -  By LYNN KAN CITIGROUP sees good upside for the Singapore stock market next year, with certain counters having the potential for 20-30 per cent gains. In an equity strategy report, it expects the benchmark Straits Times Index (STI) to reach 3,450 from its
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    • 279 6 CLOSING PRICES* (EXCLUDING ACCRUED INTEREST) GROSS REDEMPTION YIELD p.a.) NUMBER OF DAYS OF ACCRUED INTEREST INTEREST PAYMENT DATES AMOUNT ($m) COUPON RATE p.a.) YEAR RAISED ISIN CODE MATURITY DATE 01.02.2011 N*****0E 2006 3 1/8 4700.00 1/2 1/8 121 100.46 0.43 SG7E*****983
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    • 823 6  -  HOCK LOCK SIEW MARKET TAKES By R SIVANITHY THERE are dozens of adages to describe stockmarket behaviour but throughout November, none has been as accurate as “volume usually precedes price”. During November’s first week, daily volume surged well past the S$3 billion
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    • 132 6 AMTEK Engineering which is returning to the market after its delisting in 2007 saw an overall subscription of 1.4 times for its initial public offering (IPO), led by demand from institutional investors, it said yesterday. Its public tranche offer initially set at 20 million shares
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    • 509 8  -  Earnings boosted by one-off gain and new titanium dioxide business By LINETTE LIM JADE Technologies has reaped 8.16 million yuan (S$1.6 million) in net profit for the fourth quarter ended Sept 30 thanks largely to a one-off gain and to its
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    • 342 8  -  By UMA SHANKARI NEWLY listed Oxley Holdings yesterday reported an eleven-fold climb in net profit for its first quarter as it recorded revenue from its maiden property development projects. Oxley’s net profit attributable to shareholders rose from $100,000 last year to
      FILE PHOTO  -  342 words
    • 694 8 Reuters SINGAPORE fashion retailer FJ Benjamin plans to bring its in-house brand Raoul to shoppers in fashion capitals such as New York and Paris, and expects the line to start contributing to its profits in 12-18 months, its chief executive said. The company operates
      Reuters; FILE PHOTO  -  694 words
  • Page 4 Advertisements
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    • 30 4 'nJ i U FIND THE ONES J THAT FIT! Q Recruit the right people through CATS Recruit. Call 1800 289 8822 or email N recruit@sph.com.sg to advertise. 1 r^J 1
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  • Page 5 Advertisements
    • 67 5 Wealth Management Asset Management Investment Funds Custody Investor Services The expertise is local The network is global The independence is non-negotiable a A I A n y-y -r P cf I Photograph by Brian Griffin Private bankers since 1805 Geneva Lausanne Zurich Basel London Luxembourg Frankfurt Paris Madrid Barcelona Turin
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  • Page 6 Advertisements
    • 184 6 mte m AirAstana connects Far South East Asia to Kazakhstan 13 times a week (5 times a week from Beijing, 4 times a week from Seoul, 3 times a week from Bangkok, once a week from Kuala Lumpur). Air Astana serves Kazakhstan from major gateways in South East Asia Beijing,
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  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 2287 8 ESMART HOLDINGS LIMITED (Company Registration Number: *****2393E) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Esmart Holdings Limited (the “Company”) will be held at 1 Orchid Club Road, Sapphire 3, Orchid Lodge Level II, Orchid Country Club,
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  • Page 9 Advertisements
    • 89 9 X r :A 3 1 V N, r .IK i. A A HT m 1 I I L.t A##' 7 V4 *if PPL Kan Tan 6 Project Team SHIPYARD PTE LTD fid/^d ooe'c f't PPL SHIPYARD Congratulates SINOPEC On the Delivery of Kan Tan 6 P2029 PPL Pacific Class 375
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  • SINGAPORE MARKETS
    • 557 10  -  Weak Wall Street, Hang Seng and an uncertain opening for Europe continue to weigh on sentiment STOCKS R SIVANITHY Senior Correspondent SUPPORT for OCBC Bank yesterday helped limit losses in the local stock market in an otherwise weak session dominated by external concerns. The Straits Times Index,
      Source: Bloomberg  -  557 words
    • 4 10 DAILY
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    • 66 10 Nov 30 VALUE CLOSE BT OB/OS -712.00 +65.00 BT CADI -*****.00 -91.00 BT 10-day MA -*****.00 -72.00 FTSE ST Mid Cap 786.34 -0.18 FTSE ST Small Cap 565.73 -1.95 FTSE ST All Share 777.75 -2.82 FTSE ST China Top 287.23 -3.05 FTSE ST China 323.27 -4.10 FTSE
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 4 0 0 0 6 6 4 Manufacturing 46 65 64 3 9 9 49 74 73 Commerce 14 24 19 1 3 5 15 27 24 Tpt/Stor/Comms 9 16 15
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    • BROKERS’ TAKE
      • Article, Illustration
        518 10 Nov 30 close: $2.87 CIMB RESEARCH, Nov 30 SATS has announced that it is acquiring JAL’s 50.7 per cent stake in TFK, JAL’s inflight catering arm, for 7.8 billion yen (S$123.7 million). The remaining 49.3 per cent is held by the founding Nomaguchi family (43.2 per cent) and
        518 words
      • 434 10  -  Nov 30 close: $0.585 KIM ENG RESEARCH, Nov 30 Compiled by JOYCE HOOI TO forestall a credit rating downgrade of the three bonds issued by Basslink, CitySpring Infrastructure will set aside A$20 million (S$25.4 million) in an escrow account for this asset before next January. Although this
        434 words
    • 121 10 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 38,178 38,178 154,840 154,840 Manufacturing 219,320 14,499 233,819 291,316 982 292,299 Commerce 62,738 12,698 75,436 146,617 1,237 147,853 Tpt/Stor/Comms 136,994 837 137,831 308,188 216 308,404 Finance 47,760 119 47,879 474,122 16 474,138 Construction 7,059 9,720
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    • 110 10 Stock name Close Change CapMallsAsia 1.970 -0.050 CapitaLand 3.610 -0.080 CapitaMall 1.840 -0.020 CityDev 12.660 +0.440 ComfortDelGro 1.520 +0.030 DBS Grp 14.000 +0.080 F&N 6.010 -0.050 Genting SP 1.990 -0.040 Golden Agri 0.725 -0.010 HK Land 6.780 -0.150 JMH 43.240 -2.180 JSH 26.200 -0.500 Jardine C&C
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    • 515 10 CURRENCIES Reuters [LONDON] The euro hit its lowest in 10 weeks against the US dollar, yen and Swiss franc yesterday after a weekend rescue package for Ireland failed to calm worries that bailouts would be needed in other eurozone countries. The
      Reuters; AP  -  515 words
    • 56 10 VOLUME Genting SP 97,843,000 Golden Agri 70,728,000 CapitaLand 49,943,000 SingTel 43,352,000 Rowsley 35,796,000 SuntecReit 29,376,000 GLP 27,655,000 *Genting HK US$ 26,900,000 Noble Grp 25,118,000 Mewah 23,100,000 VALUE($) Genting SP 196,422,480 CapitaLand 181,533,834 OCBC Bk 162,877,180 DBS Grp 137,737,604 SingTel 133,961,290 UOB 125,555,340 Keppel Corp 100,151,211 Wilmar 66,406,830
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    • 107 10 BY CENTS CLOSE UP DairyFarm 893 80.4 7.3 DBXT FTChina25 10US$ 3190 59.3 1.4 DBXT S&P Short 10US$ 4812 44.8 0.7 CityDev 1266 44.0 3.6 DBXT Nifty 10US$ ***** 42.2 0.2 GLD 10US$ ***** 36.9 0.2 CityDev.ES.1012 1254 34.0 2.8 DBXT MSTHAI 10US$ 1561 32.9 1.6 OCBC Bk 993
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    • 122 10 BY CENTS CLOSE DOWN JMH 4324-287.2 -4.8 DBXT E50 10US$ 3802-255.6 -4.9 DBXT MSEurope 10US$ 4196-167.3 -2.9 Lyxor Europe 10 US$ 1200-148.9 -8.6 IS DJ US Tech 6158 -81.7 -1.0 JSH 2620 -65.9 -1.9 DBXT CSI300 10US$ 1050 -59.3 -4.1 Pru 500US$ 877 -56.7 -4.7 DBXT MSINDO 10us$ 1382
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    • 5 10 DAILY
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  • Page 11 Advertisements
    • 208 11 www.vw.com.sg a The new Touareg. Where on earth will you take it? The all-new Volkswagen Touareg, luxurious on road, unsurpassed off road. Where you take it is up to you. Just tap your destination into the factory fitted Touchscreen Satellite Navigation System and you're on your way. Whether it's making
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  • SINGAPORE NEWS
    • 544 12 $700m reserve price works out to $1,401 psf ppr for the freehold site on Meyer Road ONE of the biggest collective sale sites in dollar terms so far this year is expected to be launched for sale next week. Hawaii Tower, on Meyer
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    • 349 12  -  LKH unit offers $155.2m, pipping Sim Lian’s $113.3m By UMA SHANKARI A LAND parcel offered for sale under the Design, Build and Sell Scheme (DBSS) at Upper Serangoon Road received just two bids at the close of the government tender yesterday. A
      349 words
    • 305 12  -  By TEH SHI NING DUKE-NUS Graduate Medical School intends to deepen its partnership with the SingHealth group to better integrate medical education and research with clinical care. This will be the key focus of the collaboration between the National University of Singapore and Duke
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    • 433 12  -  By JOYCE HOOI THE Agency for Science, Technology and Research (A*Star) is setting aside $30 million for research and development programmes in the field of oil-and-gas (O&G) equipment, Senior Minister of State for Trade and Industry and Education S Iswaran announced yesterday. “This
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    • 357 12  -  By WINSTON CHAI SINGAPOREANS may be hungry for freebies but when it comes to surfing on the go, a new survey shows most consumers are willing to go with a paid subscription instead of relying on a complimentary substitute. According to a recent poll
      357 words
    • 216 12 BIOMERS, a spin-off company of the National University of Singapore (NUS), has launched the world’s first completely translucent dental braces system. The product is also “the only translucent orthodontic system in the world that can treat the full range of teeth misalignments”, said BioMers chief
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    • SINGAPORE ROUNDUP
      • 62 12 TO speed up solar adoption here, the Solar Energy Research Institute of Singapore (SERIS) and Singapore Polytechnic have set up a National Solar Repository. Data from solar photovoltaic systems installed here will be captured by the repository. SERIS will then analyse the systems’ performance
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      • 45 12 THE Malaysia-Singapore Business Council (MSBC) will hold its fifth joint meeting today, at the Kuala Lumpur Conference Centre. They will discuss ways to foster closer economic and business ties and bilateral SME collaborations between business communities in Singapore and Malaysia.
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      • 58 12 THE Investment Management Association of Singapore (IMAS) and the National University of Singapore Business School’s Center for Asset Management Research Investments (CAMRI) have formed an alliance. IMAS will endorse relevant CAMRI activities as well as support CAMRI’s educational programmes and research. In turn,
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      • 51 12 TODAY is World Aids Day and Standard Chartered will be raising funds for the Patient Care Centre. To date, the bank has educated 1.4 million people on HIV and Aids over the past three years. “Living with HIV” was started by Standard Chartered in
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  • Page 12 Advertisements
    • 198 12 The of In The Matter of The Companies Act (Chapter 50) And In The Matter of GRAND TRAVEL TOURS PTE LTD (Incorporated In The Republic Of Singapore) Company Registration No. *****0712Z (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the
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    • 154 12 3,498 sq feet $8.5^SF/Month JERRY LUM fit Snr Marketing Director, MBA, CES HP: 8288 0098 View: jerrylum.myweb.sg BEATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF INTERNATIONAL GROUNDWATER TECHNOLOGIES (ASIA) PTE. LTD. (In Creditors’ Voluntary Liquidation) (Co. Reg. No. *****5606E) NOTICE OF RESOLUTION
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  • ECONOMY WATCH
    • 435 13  -  Household spending dips, unemployment edges up but jobs on offer increase By ANTHONY ROWLEY IN a less serious drop than feared, Japan’s industrial output fell for a fifth consecutive month in October while household spending also declined and unemployment edged up. Still, the
      435 words
    • 324 13 Reuters [BRUSSELS] Eurozone inflation stayed unchanged in November from the previous month, in line with expectations, hitting the European Central Bank’s price stability target and signalling no pressure for a rate hike. EU statistics office Eurostat said in a flash estimate yesterday
      Reuters  -  324 words
    • 584 13 Reuters [SYDNEY] Australian exports were less of a drag on growth last quarter than many feared while government spending proved surprisingly upbeat, suggesting that the economy as a whole continued to grow in the third quarter. The Australian dollar edged higher as the
      Reuters; BLOOMBERG  -  584 words
  • Page 13 Advertisements
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  • Page 14 Advertisements
    • 2592 14 REYOUNG PHARMACEUTICAL HOLDINGS LIMITED (Incorporated in Bermuda) Company Registration Number ***** R&Y HOLDINGS LIMITED (Incorporated in Bermuda) Company Registration Number ***** Financial Adviser for the Exit Offer JOINT ANNOUNCEMENT PROPOSEDVOLUNTARY DELISTING OF REYOUNG PHARMACEUTICAL HOLDINGS LIMITED 1. INTRODUCTION Reyoung Pharmaceutical Holdings Limited (the “Company”) and R&Y Holdings Limited (the “Offeror”)
      2,592 words
    • 2433 14 The Exit Offer Letter (unless otherwise determined by the Offeror and permitted by applicable law and regulation) will not be made, directly or indirectly, in or into, or by the use of mails of, or by any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign
      2,433 words

  • MALAYSIA
    • 619 15 Najib unveils plans that target energy, hotel, and oil and gas industries AP [KUALA LUMPUR] Malaysia’s leader yesterday unveiled plans for tax incentives to bolster its oil and gas industry as well as new multibillion-dollar projects to build energy plants, a massive energy hub and
      AP; BLOOMBERG  -  619 words
    • 297 15 AFP [KUALA LUMPUR] Malaysian Prime Minister Najib Razak yesterday defended a controversial plan to build a 100-storey megatower, after it sparked fierce opposition including from former premier Mahathir Mohamad. Dr Mahathir came out against the project on Monday, saying the US$1.6 billion “Warisan Merdeka” or
      AFP  -  297 words
    • 410 15 Bernama [KUALA LUMPUR] The leaders’ adoption of the Master Plan on Asean Connectivity will expedite the move towards the Asean Economic Community (AEC) by 2015, Prime Minister Najib Tun Razak said yesterday. He said that this connectivity plan, designed with international expertise, would improve infrastructure linkages,
      Bernama  -  410 words
  • Page 15 Advertisements
    • 216 15 LA LAMAI SAM YOEL I:G m IS ON > I F v-y.'- vi',-..' 'r ij'L' v >, V ri' 1 X -r-r KOHSAMUI.LANGHAM IELS COM LANGHAM PLACE BEIJING CAPITAL AIRPORT BE SJ 1 GAIRPORT.LANGHAMPLACEHOTELS.COM MATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF
      216 words
    • 378 15 School of Management University at Buffalo The State University of New York CELEBRATING 15 successful years of MBA education in Singapore Knowledge in Practice Open Lecture Leading for Learning In today's complex and rapidly changing environment, the performance of the team you lead is crucial to your organization's survival and
      378 words

  • GREATER CHINA/INDIA
    • 774 16 8.9% expansion stokes inflation by straining transport, power systems Bloomberg [NEW DELHI] India’s economic growth has exceeded 8 per cent for the third straight quarter, adding to evidence of a strengthening in domestic demand that has stoked inflation by placing strains on the
      Bloomberg; BLOOMBERG  -  774 words
    • 489 16 Bloomberg [MUMBAI] India’s realestate developers may face rising borrowing costs and shrinking access to credit, as record corporate lending slows amid a bribery probe that led to the arrests of eight executives. The combination of the regulatory review and tighter central bank provisioning rules
      Bloomberg  -  489 words
    • 374 16 Reuters [SHANGHAI] China International Capital Corp (CICC), the country’s top investment bank, has won regulatory approval for a major shareholding change, in what state media said was a green light for Morgan Stanley to sell its stake in CICC. The China Securities Regulatory
      Reuters  -  374 words
    • 479 16 Reuters [BEIJING] The United States pressed China again yesterday to release a US geologist jailed on charges of stealing state secrets, saying that his case had not been handled transparently. Xue Feng, who was born in China and later became a naturalised
      Reuters; AFP  -  479 words
    • 307 16 Bloomberg [BEIJING] Home Credit Group, owned by Amsterdam-based PPF Group NV, said it will become the first foreign company to directly lend to Chinese consumers. The finance company next month will offer its services through a subsidiary in the northern city of
      Bloomberg  -  307 words
    • 296 16 Bloomberg [MUMBAI] Deutsche Postbank AG, the German lender being acquired by Deutsche Bank AG, is close to selling its Indian operations for about 11 billion rupees (S$316.8 million), according to a person with direct knowledge of the matter. Dewan Housing Finance Corp, based
      Bloomberg  -  296 words
  • Page 16 Advertisements

  • WORLD
    • 706 17 Move to assuage public anger but US$5b saving barely dents US$1t deficit NYT [WASHINGTON] US President Barack Obama announced on Monday a two-year pay freeze for civilian federal workers as he sought to address concerns over high annual deficits and appealed to
      NYT; AFP FILE PHOTOS  -  706 words
    • 412 17 Reuters [ZURICH] The contest to host the 2018 and 2022 World Cups lurched into its final week on Monday with more allegations of corruption against high-ranking Fifa officials and continuing uncertainty over the number of voters. As delegates gathered for three days
      Reuters  -  412 words
    • 271 17 AFP [CARACAS] Venezuela’s President Hugo Chavez on Monday called on US Secretary of State Hillary Clinton to resign after the leak of embarrassingly candid US diplomatic correspondence by WikiLeaks. “The empire stands naked Mrs Clinton should resign,” Mr Chavez said in
      AFP; REUTERS, AFP  -  271 words
    • 444 17 AFP [LONDON] Billions of euros earmarked by the European Union for developing rundown areas are lying idle because member countries cannot find the required matching funds, the Financial Times reported yesterday. More than half-way into its spending cycle, the EU has
      AFP  -  444 words
    • 749 18 No standard bonus deal as rivals fear placing themselves at a disadvantage Reuters [LONDON] Fear of losing staff and concern over placing themselves at a disadvantage to rivals is likely to scupper plans by Britain’s top banks to set a formal pact whereby they all
      Reuters; REUTERS  -  749 words
    • 488 18  -  By S JAYASANKARAN SHARES of Malaysian food company QSR Brands fell by more than 5 per cent yesterday after 57 per cent shareholder Kulim rejected two RM1.94 billion (S$810 million) bids one from private equity firm Carlyle Group and the other from
      488 words
    • 575 18  -  By PAULINE NG THE Asean Exchange Linkage is slated to go live by the second half of next year with the initial exchanges of Bursa Malaysia, Singapore’s SGX and Thailand’s SET. The Philippines’ PSE will join the common electronic platform
      575 words
    • 526 18  -  Thai DPM also says funding promising sectors takes time By LEE U-WEN in Bangkok THE advantage of a creative economy is having the power to level the playing field between large corporations and small enterprises, Thai Deputy Prime Minister Trairong Suwankiri said yesterday. He made
      REUTERS  -  526 words
  • Page 17 Advertisements
    • 70 17 Better journeys. w <3 sa ill: SENTOSA EXPRESS MONORAIL DUBAI MONORAIL TOMORROW OKINAWA MONORAIL TiGETHER Hitachi Monorail System is the modern transport solution in many cities, swiftly manoeuvring on narrow guideways that minimise environmental impact. Coupled with low construction and maintenance costs, we raise the benchmark in moving society forward.
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  • Page 19 Advertisements
    • 158 19 ENOTECA CO.,LTD. For All Wine Lovers 10% off"" storewide,... 2 "5 December GRAND OPENING TAKASHIMAYA THURSDAY, 2 DECEMBER 2010 I 10AM 9.30PM Enoteca brings the finest wines from around the world to Japan, Hong Kong, Shanghai, and now to Singapore. Enjoy the world's best wines in Singapore from 2 December
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  • EDITORIAL & OPINION
    • 507 20 EDITORIAL WIKILEAKS has again grabbed worldwide attention, this time by leaving the global diplomatic community red-faced with its latest set of leaks US government cables sent by diplomats from around the world. Readers of these documents got a peek into brutally frank US assessments
      507 words
    • 755 20  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator WITTINGLY or not, China is nurturing a monster in North Korea. In May, after Seoul released the findings of an international investigation which concluded that the Cheonan,
      755 words
    • 990 20  -  Unlike in 1985, the perception now is that the US is driven by its own economic self-interest LEON HADAR Washington Correspondent AT A time when the need to fix the global financial imbalances between the United States and China dominates
      AFP  -  990 words
    • 1013 21  -  The key is whether Washington is able to convince Congress that wrapping up the talks is good for America By SEE CHAK MUN The writer is a former Singapore ambassador to GATT and the WTO THE Doha Round of multilateral trade negotiations will enter its 10th
      ROUTERS  -  1,013 words
    • 905 21  -  By ROGER ROGER COHEN The writer writes the Globalist column for the International Herald Tribune [LONDON] IS the euro to the early 21st century what the League of Nations was to the early 20th: a fine idea that became a political orphan
      BLOOMBERG  -  905 words
    • 295 21  -  LETTER TO THE EDITOR Samina Waqar Press Counsellor Pakistan High Commission Singapore THE national and international press has carried excerpts from documents brought to public light by WikiLeaks. These documents reportedly pertain to official communications within the US government system. The US had alerted us
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  • Transport HUB
    • 211 22  -  By JOYCE HOOI THE bounty runs aplenty on the high seas, with Simpson Marine, Asia’s largest yacht dealership, taking delivery of five new luxury yachts in Singapore this week. The five yachts Azimut 43, Azimut 58, Azimut 68S, Beneteau 45 and Sessa
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    • 763 22  -  Merchant ships should be better equipped to rescue people from the sea STRAIT TALK By DAVID HUGHES LOOKING out across the terminals at Tanjung Pagar and Brani as you can from several points in VivoCity you see lines of containerships. They give the impression
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    • TRANSPORT HUB: AVIATION
      • 749 23 Unite union will ballot members about taking industrial action AP [LONDON] Shareholder approval for a £5.7 billion (S$11.7 billion) merger between British Airways plc and Iberia SA to create Europe’s No 3 airline was overshadowed on Monday by the threat of new strikes
        AP  -  749 words
      • 473 23 AP [WASHINGTON] A trade group for the major US airlines on Monday named a Citigroup lobbyist and former White House official as its new president and CEO. The Air Transport Association of America said that Nicholas Calio will take over the top job at
        AP  -  473 words
      • 3244 23 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi KU6457 1230 SQ456 1245 SQ457 1230 EY470 2200 Adelaide LH9771 1745 9W4082 2220 SQ278 1745 AF8088 2220 VS7278 1745 BA7382 2220 JL5083 2220 MU8214 2220 QF82 2220 --LH9770 2350 SQ279 2350 VS7279 2350 Ahmedabad NH6293 0710 SQ531 0710 Amsterdam
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      • 585 23 Decision comes after approval from major banks and creditors AFP [TOKYO] Struggling Japan Airlines (JAL) said yesterday that it had won approval from the Tokyo district court for a rehabilitation plan that will see thousands of job cuts, route closures and a debt
        AFP  -  585 words
    • TRANSPORT HUB: LAND
      • 540 24  -  The site currently lists over 4,000 used cars with their prices and specifications By SAMUEL EE THE Singapore Vehicle Traders Association (SVTA) has gone into cyberspace to create an online marketplace to list the combined inventory of used cars that its 384 members
        YEN MENG JIIN  -  540 words
      • 554 24 Bloomberg [SHANGHAI] Rolls-Royce Motor Cars Ltd, Bayerische Motoren Werke AG’s (BMW) luxury nameplate, plans to sell 800 cars in China in 2011 as it aims to raise sales eightfold in two years in the world’s largest auto market. The automaker delivered almost
        Bloomberg  -  554 words
      • 577 24 NYT [DETROIT] General Motors said on Monday that it had completed a deal to sell a subsidiary that makes power-steering components to an affiliate of the Beijing municipal government. The sale of the unit, Nexteer Automotive, to Pacific Century Motors represents China’s
        NYT  -  577 words
      • 469 24  -  Another nine new models to be introduced in 2011 By SAMUEL EE AUDI is ending its estimated $10 million marketing blitz for the year with a bang by throwing an extravagant bash for its new A8 flagship limousine. T o launch
        469 words
      • 314 24 AP [TOKYO] Toyota is fixing the pump that cools the hybrid system in 650,000 Prius cars the Japanese automaker’s prized green vehicle but is adamant the repair being carried out worldwide isn’t another recall. Toyota Motor Corp spokesman Paul Nolasco said yesterday the
        AP  -  314 words
  • Page 22 Advertisements
    • 421 22 SOUTH EAST ASIA AND SOUTH ASIA AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE BUSINESS PLAN 2011 FROM SOUTH EAST ASIA AND SOUTH ASIA TO AUSTRALIA As part of the Business Plan for 2011, Member Lines of the South East Asia and South Asia Australia Trade Facilitation Agreement wish to inform
      421 words

  • Page 23 Miscellaneous
    • 302 23 CRYPTIC CROSSWORD Across 1 Bird gives public official cricket score (8,4) 9 Lie, possibly, with fantastic ‘Castle in the Air’? (9) 10 In hippodrome, garlanded last character (5) 11 Decoy outside nicked heartless mugger (6) 12 Top detective’s manor (8) 13 Made academic head absent (6) 15 Ruffles someone’s head
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  • Page 24 Advertisements
    • 31 24 ft -S- tfL. Lianhe Zaobao OCBC China chairman's take on how foreign banks can compete in the Chinese market P ♦Bitii**? —(*ii) mm* To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      31 words

  • SINGAPORE STOCKS
    • 8937 25 Transaction date: Nov 30 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 3148 8Telecom 18 -0.5 1292 18.5 18 17.5 18.5 1.7 10.1 5.8 86.2 12 5 5834
      8,937 words
    • 1663 26 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 7 4 1181 t AA Grp 5 4 5 27.8 4.8 225 130 6222 t APStrategic 162 -6 83 169 160 157
      1,663 words
    • 9453 26 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.29/ APS Alpha Fund (USD)!** 0.98/ APS Alpha Fund Cl B SGD!** 1.2/ APS Alpha Fund Cl B USD!** 0.89/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM
      9,453 words
    • 860 26 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 112 110 113.5 511.3 1056 761 CIMBAsean40 100US$ US986 -7 75 990 984 980 983 39.4 335
      860 words
    • 254 26 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 6000 AVJennings A53 49 56 3.6 6.6 4.2 138 55 16 6017 Genting HK US$ US41.5 -1 ***** 42.5 41 41 41.5 2732.6
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  • Page 25 Advertisements
    • 66 25 FRANCK MULLER BOUTIQUE 01-07 ION ORCHARD (65) 6509 3380 B1-19 THE SHOPPES AT MARINA BAY SANDS (65) 6634 8825 SINCERE FINE WATCHES NGEE ANN CITY (65) 6733 0618 LUCKY PLAZA (65) 6737 4593 SUNTEC CITY (65) 6337 5150 THE SHOPPES AT MARINA BAY SANDS (65) 6634 9782 VIVOCITY (65) 6278
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  • FINANCE & COMMODITIES
    • 374 27 In local curr In S$ In US$ dy yr dy yr dy yr Nov 29 Index Change Change Change Change Change Change World Index Preliminary 851.9 -1.0 2.3 -1.0 -3.6 -1.3 2.3 EAFE Preliminary 771.1 -1.0 -1.8 -1.3 -7.9 -1.5 -2.2 Europe Preliminary 1114.9 -2.0
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    • 180 27 Nov 30 $S Offer Bid 0vernight 0.02 par 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.25 US$ Offer Bid 7 days 0.35 0.25 1 month 0.40 0.30 2 months 0.42 0.32 3 months 0.45 0.35 6 months 0.55 0.45 9 months 0.75 0.55 12
      180 words
    • 22 27 Nov 30 S$ Bid Offer 1-month 1.3175 1.3178 2-months 1.3175 1.3178 3-months 1.3175 1.3178 6-months 1.3175 1.3179 Source: OCBC
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    • 121 27 Nov 30 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.312 1.238 Can dollar 1.319 1.269 Euro 1.761 1.694 Sterling pound 2.091 2.011 NZ dollar 1.012 0.964 US dollar 1.34 1.289 Local dollars to 100 units of foreign
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    • 27 27 Nov 30 Open High Sett STI Dec 3136 SIMSCI Dec 370.5 372.0 370.7 Taiwan Dec 298.1 301.4 298.8 Source: MF Global (S) Pte. Ltd
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    • 78 27 Nov 30 PALM OIL Nov 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 10 3422 3506 3525 3422 150 1621 Jan 11 3438 3438 3485 3384 1692 ***** Feb 11 3383 3412 3458 3345 ***** *****
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    • 421 27 Nov 30 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec10 99.6475 0 7407 Mar11 99.4700 0 7145 Jun11 99.3850 0 4879 Sep11 99.3100 0 2441 EUROYEN TIBOR FUTURES Dec10 99.6600 100 4388 Mar11 99.6350 102 1556 Jun11 99.6200 99.6200 99.6200 99.6200 100 1537 Sep11 99.6050 99.6050
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    • 137 27 Nov 30 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Dec 10 432.0 432.0 432.0 6 Jan 11 432.0 Feb 11 433.0 Mar 11 433.5 Apr 11 433.5 May 11 433.5 Jun 11 433.5 Jul 11 433.5 Aug 11
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    • 90 27 Nov 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 03.03.2011 0.35 0.34 0.33 1-Year BY*****N 01.11.2011 0.40 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 103.78 103.81 103.75 5-Year N*****0S 2.875 01.07.2015 107.55
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    • 107 27 Nov 29 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1235.00 1238.50 1248.50 1226.25 Mar 11 1243.50 1247.00 1256.50 1235.50 May 11 1245.00 1248.50 1258.00 1237.00 Jul 11 1249.25 1252.50 1260.25 1241.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 10 49.87
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    • 77 27 CRUDE OIL PRODUCTS Nov 29 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 86.71 1.22 WTI (Near Mth) 85.56 1.80 Dubai (1-Mth F) 83.52 0.98 Tapis blend 90.50 1.20 Minas 85.80 1.05 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 88.81 1.34 Jet Kerosene 98.40 0.40 US$/barrel Opec Oil
      77 words
    • 2434 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2 unch 1977 1 3 2.50 1 AFP Properties EW*****8 30.5 -0.5 703 1 10 -2 1.36 60 6221 Asia-Pacific Strat W*****6 39 1 96
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    • 464 27 Nov 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.982 6.423 0.734 7.484 44.260 87.027 0.810 11.162 3.036 1.292 82.589 42.415 1.270 6.864 0.959 29.378 29.105 0.619 0.964 Canada 1.018 6.541
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    • 85 27 Nov 30 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 139 27 Nov 30 GOLD (US$/oz) Nov 29 Nov 30 Hong Kong 1365.60 1370.40 Nov 26 Nov 29 London 1356.50 1363.80 1357.25 1364.80 Source: Thomson Reuters CAST BAR Nov 30 (S$) Selling Buying Kilobar 61,885.59 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 139 58 5gm 394 289 10gm 703
      139 words
    • 71 27 Nov 29 Nov 29 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2245.25 2243.00 3 months 2270.00 2270.00 Copper, Grade A (US$/tonne) Cash 8266.50 8287.00 3 months 8220.00 8239.00 Lead (US$/tonne) Cash 2166.50 2258.50 3 months 2188.00 2280.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 154 27 Nov 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2694 1.2704 0.9635 0.9640 Canadian dollar 1.2927 1.2937 0.9812 0.9817 Euro 1.7296 1.7304 1.3128 1.3131 NZ dollar 0.9826 0.9835 0.7458 0.7463 Sterling pound 2.0513 2.0523 1.5570 1.5574
      154 words
    • 82 27 Nov 29 COCOA (£/tonne) Close Prev High/Low Dec 10 1853 1870 1886/1853 Mar 11 1866 1874 1893/1862 May 11 1881 1888 1907/1879 Jul 11 1898 1904 1917/1893 COFFEE (US$/tonne) Close Pev High/Low Nov 10 1763 1800 1796/1750 Jan 11 1779 1816 1808/1756 Mar 11 1799 1835 1825/1775 May 11
      82 words
    • 5847 28 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN New Orleans/Camden *Loads E./W.
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  • Page 29 Advertisements
    • 28 29 r FREIGHT FORWARDER urgently needed by shippers 1 Can they find your here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
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  • executive Money
    • 884 30 Market strategists are still betting its plan can trump potentially troubling headlines from China and around the world NYT HOW will you know whether the Federal Reserve’s plan to reinvigorate the economy by buying Treasury debt is working? Simple: Look at how foreign stocks are
      NYT  -  884 words
    • 547 30 NYT [NEW YORK] On Wall Street, it is called the “mosaic theory”. Every day, professional investors and research analysts work the phones to ferret out information about companies that can’t be found by simply reading news releases. Some will walk through shopping
      NYT  -  547 words
    • 1151 31  -  Avoid paying more taxes than necessary through careful review and early planning, bearing in mind the following tips MONEY MATTERS BJ OOI,DAVE LOH BJ Ooi is partner and head of private client services, and Dave Loh is director at KPMG in Singapore THERE are
      FILE PHOTO  -  1,151 words
  • Page 30 Advertisements
    • 181 30 Are you evolving as fast as today's markets? Ihl iShares Keep evolving is By the time you finish reading this, the financial world will have changed. Discover how iShares ETFs can offer the liquidity and flexibility to keep your portfolio as dynamic as it needs to be. We keep evolving
      181 words

  • Page 31 Advertisements
    • 486 31 There's an easier way your portfolio. fj 1 J: I meg If you wanted to invest in gold, you could look for a place to buy it, hire someone to transport it, and store it behind steel walls. Or you could invest in SPDR® Gold Shares (GLD 10US$). It's a
      486 words

  • Page 32 Advertisements
    • 102 32 Emerging Market Funds Wisdom never emerges overnight. On the ground expertise. Local understanding. Years of detailed research. That's the wisdom behind every one of our funds. J.P. Morgan a signature that delivers over 140 years of unparalleled wisdom to your investment portfolio. Talk to your investment advisor about our emerging
      102 words