The Business Times, 24 December 2010

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Friday, December 24,2010
    23 words
  • 1010 1  -  Pot of gold at the end of the rainbow and no one wants to miss out on the opportunity By SIOW LI SEN [SINGAPORE] As Asia becomes a gold mine for private banks, the industry is getting more crowded and competitive. Local banks
    1,010 words
  • 140 1 HST INDEX 3,137.78 (-6.53) HST INDEX FUTURES 3,138 (-6) HSIMSCI 370.06 (-1.19) HSIMSCI FUTURES 370.50 (-0.80) FOREX US$ S$ US$ (S$ per US$) 1.306 (US$/S$ per 1.541 2.013 EURO (US$/S$/E) 1.313 1.714 Foreign currency per US$ S$ YEN 82.90 63.50 RM 3.114 2.385 HK$ 7.780 5.959 BAHT 30.16
    140 words
  • 668 1  -  By AMIT ROY CHOUDHURY [SINGAPORE] Feeling a bit low on self-esteem? Colleagues, friends and family don’t appreciate you? Well, sign up with AwesomenessReminders. For US$45 a month they will get a live operator to call you up every day to tell
    668 words
  • Page 1 Advertisements
    • 104 1 INFLATION Nov price rise is highest in 22 months PAGE 4 WINE Make mine ruddy PAGE 24 EXECUTIVE LIFESTYLE ArtScience lotus unfolds PAGE 28 CHRISTMAS IN THE CITY Fir real and fake ice PAGE 25 ChildAid 2010 remembered Relive moments from the charity concert in pictures PAGES 14 15 *****1
      104 words

  • TOP STORIES
    • 588 2 Private banks jostle for talent and clients AS Asia becomes a gold mine for private banks, the industry is getting more crowded and competitive. Local banks like DBS and Bank of Singapore are trying to snap domination long enjoyed by European and US players. The jostling will only
      588 words
    • 411 2 Bloomberg [PARIS] Snowstorms returned to northern France yesterday, forcing the cancellation of 20 per cent of flights at Paris’s main Charles de Gaulle airport and disrupting travel through the Channel Tunnel on Eurostar Group Ltd trains. London’s Heathrow airport, Europe’s busiest, is largely ice-free,
      Bloomberg; REUTERS  -  411 words
    • 207 2 Bloomberg [ROME] Moody’s Corp is being investigated by Italian prosecutors for alleged market manipulation related to a report on the country’s banks published in May. “Moody’s takes its responsibilities surrounding the dissemination of market-sensitive information very seriously,” the company said in a statement yesterday. The
      Bloomberg  -  207 words
    • 886 2  -  MDA wants to nudge the industry toward service differentiation COMMENTARY WINSTON CHAI Correspondent IN A few weeks, one of the most controversial business mandates introduced by the Singapore government will come to bear. The Media Development Authority of Singapore (MDA) will soon issue its
      886 words
    • 725 2  -  By LINETTE LIM [SINGAPORE] Can office parties be a barometer of the economy? In a year when austerity is in and partying is out in some parts of the world, companies that BT spoke to say that year-end festivities in
      725 words
    • 552 4  -  With 4% jump, housing emerges as the key driver of last month’s inflation By TEH SHI NING [SINGAPORE] Singapore’s inflation accelerated in November as the consumer price index saw its largest jump in 22 months. As anticipated by economists, consumer prices last
      FILE PHOTO  -  552 words
    • 360 4  -  By JOYCE HOOI [SINGAPORE] The form that is used in the sale and purchase of ships Saleform 1993 is going to be revised for the first time in 17 years, the Baltic and International Maritime Council (Bimco) and the Norwegian Shipbrokers’ Association
      360 words
    • 752 4  -  By JOYCE HOOI [SINGAPORE] Post-finan-cial crisis, the development of ports and their accoutrements is rapidly becoming a bottomline refuge for investors and shipping firms alike. “We have noticed an increasing trend for major shipping companies to become involved with directly funding and developing
      FILE PHOTO  -  752 words
    • 18 4 ISIN-CODE NAME NAV DATE LU********** Man AHL Trend SGD Share SGD 99,56 13.12.10
      18 words
    • 417 4  -  Upward pressure on exchange rates risks creating problems By ANTHONY ROWLEY WHILE East Asia will continue to do well next year, governments need to cooperate more on exchange rate and other policies to ensure post-crisis recovery into more balanced longterm growth, the
      417 words
    • 388 4 Reuters [KUALA LUMPUR] Sime Darby yesterday filed a suit seeking damages of at least RM340 million (S$142.5 million) from its former chief executive and officials involved in loss-making energy projects as the firm looks to win back investor confidence. Of that sum, the Malaysian
      Reuters; FILE PHOTO  -  388 words
  • Page 2 Advertisements

  • Page 3 Advertisements
    • 258 3 CYAN GARDEN HOMES FREEHOLD 1 I J" > ;'p m A LORN E RD r G rs High PIE t Velocity Novena BUK TT MAH RD S3 y MRT otanic Garden (u/c) Newton Stevens u/c a Singapore i Botanic TANGLIN RD ORCHARD RD (u/c): Future Downtown Line MRT Stations Come
      258 words


  • COMPANY NEWS
    • 522 5  -  It buys 19.9% of Shenzhen Chiwan Petroleum Supply Base for HK$539m By FELDA CHAY GLOBAL Logistic Properties (GLP) delivered an early Christmas gift to its shareholders yesterday with an acquisition that will give it a stake in China’s second largest logistic facilities
      522 words
    • Article, Illustration
      132 5 CHILDREN brought early Christmas cheer yesterday to two banks. Some 60 children (above) from OCBC’s in-house childcare centre, Little Skool-House, charmed lunch-hour customers at OCBC’s main banking hall singing Christmas carols. They later visited their parents working in their offices there to continue with their serenading. And over
      132 words
    • 250 5  -  By TEH SHI NING CONTEL Corporation said yesterday that the creditors’ meeting to seek approval for its proposed scheme of arrangement will be held on Jan 18. The proposed scheme of arrangement document will be dispatched to creditors today. News that the High
      250 words
    • 172 5 OTTO Marine’s wholly owned subsidiary, Otto Offshore, has filed a notice of arbitration with the Singapore International Arbitration Centre (SIAC) on Dec 21. The notice is with regard to a shipbuilding contract for the construction and sale of an anchor handling tug supply vessel
      172 words
    • 903 5  -  HOCK LOCK SIEW By LYNN KAN TAIWAN’S lender to small and medium businesses, Financial One Corp, might make Santa’s naughty list this year. After a five-week trading suspension by the company for its management to mull over a voluntary
      903 words
    • 448 7  -  It’s the firm’s second major property acquisition in Changi Rd area over 2 mths By KALPANA RASHIWALA ROXY-PACIFIC has inked a deal to buy Everitt Building at 116 Changi Road for $35.5 million. The price for the 10-year-old freehold property, which is about 380
      448 words
    • 515 7  -  By JOYCE HOOI KEPPEL AmFELS Inc, a wholly owned US subsidiary of Keppel Offshore Marine Ltd, has delivered an EXL jackup rig to a subsidiary of Rowan Companies Inc ahead of schedule and within budget. “The addition of the EXL units to our
      515 words
    • 341 7  -  By LILIAN HUANG CHINA Angel Food, which is the subject of a proposed voluntary delisting three-and-a-half years after its mainboard listing, has a new substantial shareholder. A regulatory filing shows that the shareholder, Jeremy Lee Sheng Poh, purchased 3.509 million shares or a
      341 words
    • 355 7 SHARES in CapitaMalls Asia (CMA) fell slightly yesterday even as analysts issued positive reports on the company after it bought its first mall in Malaysia since its listing in November 2009. CMA, a unit of South-east Asia’s largest listed property group CapitaLand,
      355 words
    • 249 7  -  By NISHA RAMCHANDANI NEPTUNE Orient Lines (NOL) has managed to secure US$926 million in financing offers from lenders and financial institutions, which will help pay for the acquisition of 12 new container ships worth US$1.2 billion. In July and August, NOL had announced
      249 words
  • Page 5 Advertisements
    • 133 5 eaSon this S* Z 2 ccessorrLe uour room Fjords Admiral C30 M Fully Imported From Norway Simmons Simmons® Beautyrest® NeckCare Pillows Stylish C-Base 360° Swivel The C-based Fjords® Recliner features a distinctive shape as well as a gentle rocking function. Besides, the 360° swivel base is a practical feature that
      133 words

  • SINGAPORE MARKETS
    • 506 6  -  STOCKS Turnover sinks below half of the daily average for November at 824.9 million units CONRAD TAN Reporter STOCKS here ended lower yesterday on thin trading volumes, as market activity remained lacklustre on the last full trading day before the Christmas weekend, with many traders
      Source: Bloomberg  -  506 words
    • 4 6 DAILY
      4 words
    • 66 6 Dec 23 VALUE CLOSE BT OB/OS -108.00 -79.00 BT CADI -*****.00 +12.00 BT 10-day MA -*****.00 -11.00 FTSE ST Mid Cap 794.17 -0.49 FTSE ST Small Cap 585.75 +1.82 FTSE ST All Share 779.29 -1.19 FTSE ST China Top 291.83 -1.30 FTSE ST China 322.91 +0.42 FTSE
      66 words
    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 5 6 0 0 0 7 5 6 Manufacturing 48 57 65 8 4 11 56 61 76 Commerce 22 16 23 2 4 9 24 20 32 Tpt/Stor/Comms 8 17 17
      186 words
    • BROKERS’ TAKE
      • 490 6 Dec 23 close: S$15.22 Phillip Securities Research, Dec 23 SINGAPORE Airlines (SIA) announced on Dec 20 that they intend to invest 328 million yuan (S$64.6 million) in China Cargo Airlines (CCA) through its cargo arm, SIA Cargo. CCA has a net asset of -635 million yuan on the
        Source: Bloomberg  -  490 words
      • 513 6  -  Dec 23 close: S$1.48 DMG Partners Research, Dec 23 Compiled by JOYCE HOOI WE RAISE our FY2011 earnings by 25.6 per cent following an increase in our crude palm oil (CPO) price assumption to RM2,700 (S$1,130) from RM2,250. Subsequently, our TP is raised to S$2.05, based on a
        513 words
    • 123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 62,250 62,250 46,858 46,858 Manufacturing 222,401 10,501 232,902 192,858 372 193,230 Commerce 33,963 18,957 52,920 44,269 1,570 45,839 Tpt/Stor/Comms 50,533 946 51,479 83,908 256 84,164 Finance 59,868 161 60,029 103,952 24 103,976 Construction 10,584 6,241
      123 words
    • 108 6 Stock name Close Change CapMallsAsia 1.880 -0.010 CapitaLand 3.640 -0.010 CapitaMall 1.890 CityDev 12.540 -0.160 ComfortDelGro 1.540 -0.020 DBS Grp 14.340 F&N 6.280 +0.040 Genting SP 2.120 +0.020 Golden Agri 0.760 HK Land 7.100 +0.140 JMH 44.380 +0.320 JSH 26.100 -0.400 Jardine C&C 35.600 +0.100 Keppel
      108 words
    • 479 6 CURRENCIES Reuters [LONDON] The euro steadied against the dollar and the Swiss franc yesterday, helped by supportive comments from China, but analysts said the outlook for the single currency was shaky, with fresh losses expected into 2011. Liquidity was at a premium in
      Reuters; BLOOMBERG  -  479 words
    • 57 6 VOLUME Tuan Sing 45,180,000 FinaOne 43,398,000 Liang Huat 32,004,000 Genting SP 29,099,000 Silverlake 23,440,000 GMG Global 22,903,000 Golden Agri 17,744,000 Wilmar 17,374,000 China Sky 16,690,000 Jasper 16,212,000 VALUE($) Wilmar 97,735,627 IS S&P500 76,980,122 Genting SP 61,376,610 SGX 25,734,620 DBS Grp 22,099,300 FinaOne 21,880,675 SingTel 21,606,460 Noble Grp
      57 words
    • 112 6 BY CENTS CLOSE UP DBXT DBCBDJUBS 10US$ 3605 108.4 2.4 IS DJ US Tech 6475 54.8 0.7 JMH 4438 41.8 0.7 DairyFarm 918 39.2 3.4 DBXT S&P500 10US$ 1984 37.9 1.5 DBXT SPASX200 10US$ 3453 37.9 0.8 Lyxor US DJIA 10 US$ 1165 23.5 1.6 HK Land 710 18.3
      112 words
    • 123 6 BY CENTS CLOSE DOWN DBXT DBLCI-OY 5US$ 3906-289.8 -5.4 GLD 10US$ ***** -52.2 -0.3 JSH 2610 -52.2 -1.5 DBXT FTVietnam 10US$ 3680 -27.4 -0.6 DBXT S&P Short 10US$ 4518 -27.4 -0.5 DBXT MSINDO 10us$ 1340 -26.1 -1.5 DBXT CSI300 10US$ 1058 -24.8 -1.8 Lyxor India Nifty 10 1735 -24.0
      123 words
    • 5 6 DAILY
      5 words

  • Page 7 Advertisements
    • 1755 7 BEATS BUY IT• SELL IT• FIND IT NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg In the Matter of The Companies Act (Cap. 50) And In the Matter of FOUNTAINHEAD MANUFACTURING PTE LTD (In Members' Voluntary Liquidation) (Co. Reg. No. *****0554G) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to
      1,755 words
    • 180 7 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CYPHEAS PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (COMPANY NO: *****2274C) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50, that the FINAL MEETING of the members of the abovenamed
      180 words

  • SINGAPORE NEWS
    • 442 8  -  Town gas suppliers, petrochemical plants expected to respond By RONNIE LIM AFTER securing long-term purchase commitments from generating companies (gencos) here for two-thirds of its three million tonnes per annum (tpa) of liquefied natural gas (LNG) supplies, BG Group designated to carry out the
      442 words
    • 200 8 SPENDING on small domestic appliances (SDA) has grown in value by a blazing 32 per cent in Singapore in the first ten months of this year, according to a survey by research company GfK Asia. The survey on the SDA industry across eight Asian
      200 words
    • 149 8  -  Yen Meng Jiin STRANGE FRUIT, a Melbourne-based performing arts company, is currently performing its stunning show, The Three Belles, in Singapore for a three-month residency at Marina Bay Sands. The performers perched atop 5-metre-high flexible poles, bends and sways in the air, teasing shoppers
      YEN MENG JIIN  -  149 words
    • 164 8 SENIOR scientist Boris Lukiyanchuk from A*Star’s Data Storage Institute (DSI) has been elected a Fellow of Optical Society of America (OSA), a prestigious scientific society. He was recognised for his outstanding contributions in the theory of laser-matter interaction. Professor Lukiyanchuk has also published pioneer papers
      164 words
    • 237 8 SINGAPORE companies will be showcasing some of their latest educational media technologies to about 30,000 people in London next month. The annual British Educational and Training Technology Show 2011 (BETT) trade event, which features the latest educational technology products and services,attracts
      237 words
    • 613 8  -  Industry watchers expect to see keen demand for the land parcel By EMILYN YAP THE Urban Redevelopment Authority (URA) will be putting a hotel site at Robertson Quay up for tender, after a developer committed to pay at least $51.5 million or $378
      613 words
    • 198 8 NINE bus services have been identified by public transport operators SBS Transit and SMRT for service improvements during peak periods. This is part of an ongoing review process involving the Land Transport Authority (LTA). “We are heartened by the operators’ commitment to
      198 words
  • Page 8 Advertisements
    • 21 8 SCORE CARD Keep your investors informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.s
      21 words
    • 27 8 J FIND THE ONES ffTHAT FIT! U Recruit the right people through CATS Recruit. Call 1800 289 8822 or email i recruit@sph.com.sg to advertise. L«iAT>l RECRUIT I
      27 words

  • ECONOMY WATCH
    • 438 9 The US economy expanded at a 2.6% rate in Q3, marking a pickup in growth Bloomberg [WASHINGTON] The cost of protecting US company bonds from default is about where it ended 2009 as the economy stabilises. “We are ending the year almost exactly
      Bloomberg  -  438 words
    • 463 9 Minister says debt swop is a gesture of goodwill to creditors Reuters [BUENOS AIRES] Argentina’s government sought on Wednesday to mop up US$6.1 billion in defaulted bonds, reopening a debt swop that was launched earlier this year in an attempt to reduce lawsuits against the
      Reuters  -  463 words
    • 255 9 Reuters [SEOUL] South Korea’s central bank yesterday further cut its special credit facility for smaller companies on continued economic improvement, reinforcing market expectations for an additional interest rate raise as early as February. The Bank of Korea said in a statement that its
      Reuters  -  255 words
    • 630 9 AFP [DUBAI] The investment in infrastructure that Qatar will have to make after it won the right to host the 2022 football World Cup is likely to boost gross domestic product (GDP) growth in the gas-rich emirate, economists say. The tiny nation already
      AFP; BLOOMBERG  -  630 words
    • 600 9 Bloomberg [SYDNEY] Takeovers in Australia surged to a record this quarter, renewing investment bankers’ hopes that 2011 will uncork a backlog of deals in a commodities-led revival. The value of announced mergers and acquisitions since Sept 30 more than quadrupled from
      Bloomberg  -  600 words
    • 403 9 Reuters [WELLINGTON] New Zealand’seconomy unexpectedly shrank in the third quarter, raising the risk of a dip back into recession and reinforcing expectations that the central bank will keep interest rates on hold well into next year. Gross domestic product fell
      Reuters  -  403 words
  • Page 9 Advertisements

  • MALAYSIA
    • 570 10  -  Finance ministry to set up special purpose vehicle By in Kuala S JAYASANKARAN MALAYSIA’S Finance Ministry will move to set up a special purpose vehicle to raise funds for the estimated RM36 billion (S$15 billion) mass rapid transit (MRT) project in the Klang
      570 words
    • 737 10 Bloomberg [DUBAI] CIMB Group Holdings Bhd, the top global sukuk underwriter for a fourth year, is seeking to boost its business in the Persian Gulf to fight off HSBC Holdings plc’s challenge to its dominance. The South-east Asian nation’s second-biggest lender arranged
      Bloomberg; FILE PHOTO  -  737 words
    • 574 10  -  MOU with India may yield RM18b deals, KL rail project tops list within country By PAULINE NG MALAYSIAN contractors look set to benefit from the massive infrastructure spending planned both domestically and internationally with the RM36 billion Klang Valley train system heading the slew
      574 words
  • Page 10 Advertisements
    • 2212 10 NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at 63 Sungei Kadut Loop, Hisaka Industrial Building, Singapore *****4 on Monday, 10 January 2011 at 3.00 p.m. to transact the following businesses: ORDINARY BUSINESS: 1. 2C @*.*!8* ID, .CD>!,*@ <$* 9!@*.<C@>R 5*BC@< ID, ?:,!<*,
      2,212 words

  • GREATER CHINA/INDIA
    • 570 11 Govt vows steps to cool food inflation, says onion prices will ease soon Bloomberg [NEW DELHI] India’s food inflation accelerated to a six-week high, adding pressure on the government to curb onion prices that have jumped more than 30 per cent in the past
      Bloomberg; AFP  -  570 words
    • 406 11 Reuters [BEIJING] China’s Ministry of Commerce yesterday said it would consider a US request for consultations over its support for wind power technology, while defending its actions as in keeping with global trade rules. The United States on Wednesday accused China of illegally subsidising production
      Reuters  -  406 words
    • 296 11 Bloomberg [NEW DELHI] Billionaire Anil Ambani’s companies borrowed US$3 billion from lenders including China Development Bank Corp to gain cheaper funding after rupee borrowing costs climbed the most in four years. Reliance Communications, India’s second-larg-est mobile phone operator, will borrow
      Bloomberg  -  296 words
    • 164 11 AFP [NEW DELHI] The Indian government has offered to hold a special corruption debate with opposition lawmakers to break a deadlock that meant no legislation was passed in all of the last parliamentary session. Opposition MPs forced adjournments on every day of the
      AFP  -  164 words
    • 474 11 Investors worry firms will boost debt sales as govt caps lending Bloomberg [BEIJING] Yields on China’s corporate bonds are rising at the fastest pace in three years relative to government securities, on concern companies will step up debt sales as the government
      Bloomberg  -  474 words
  • Page 11 Advertisements
    • 1572 11 NOTICES BUY IT-SELL IT-FIND IT Toll free: 1800-289-8822 Email: notices@sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF VISATOR PTE. LTD. (In Creditors'Voluntary Liquidation) Reg. No. *****6858G NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held at
      1,572 words
    • 455 11 IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE Originating Summons No. 1244 of 2010/H In the matter of Section 210 of the Companies Act (Chapter 50) And In the matter of CONTEL CORPORATION LIMITED (Bermuda Company Registration No. *****) And CONTEL CORPORATION LIMITED (Bermuda Company Registration No. *****) Applicant
      455 words

  • WORLD
    • 727 12 Beijing pledges support by buying bonds of debt-laden European countries EUROZONE DEBT WOES AFP [BEIJING] China, already the banker to the United States and a major investor in emerging markets, is now positioning itself as the potential “white knight” saviour to debt-laden Europe,
      AFP  -  727 words
    • 378 12 Reuters [DUBLIN] Ireland’s government said yesterday it would pump 3.7 billion euros (S$6.3 billion) into Allied Irish Banks (AIB), setting it on course for nearly 93 per cent ownership of what was once the country’s largest publicly traded lender. AIB will be
      Reuters  -  378 words
    • 452 12 AFP [ATHENS] Greek lawmakers early yesterday approved an austerity budget, part of a tough economic overhaul imposed after the debt-hit country’s international bailout, as thousands of protesters marched in Athens. Some 3,000 unionists and Communists staged separate demonstrations on Wednesday to reject the economic blueprint
      AFP  -  452 words
    • 499 12 Analysts predict 4% growth in 2011, up from 2010’s 2.8% AP [WASHINGTON] Expectations for US economic growth next year are turning more optimistic now that Americans will have a little more cash in their pockets. A cut in workers’ Social Security
      AP  -  499 words
    • 353 12 Reuters [ROME] Two people were injured in separate explosions at the Swiss and Chilean embassies in Rome yesterday, authorities said. There was no immediate claim of responsibility but the incidents bore similarities to an episode in Greece last month in which far-left militants were
      Reuters  -  353 words
    • 543 13 Hundreds of small firms with China operations and auditors identified Bloomberg [NEW YORK] The Securities and Exchange Commission’s probe into auditors of China-based companies listed on US share exchanges is a signal for investors to approach these stocks with caution,
      Bloomberg  -  543 words
    • 487 13  -  By in Brussels CONNIE HEDEGAARD The writer is the European Union commissioner for Climate Action ALTHOUGH Christmas is upon us, there is good reason to reflect for a moment on global warming and the recent climate conference in Cancun, Mexico. The year 2010 was
      REUTERS  -  487 words
    • 365 13 Commercial property sales hit US$13.9b in first 9 months Bloomberg [LONDON] London’s commercial property market will probably draw the most investment for the second consecutive year as prospects of rising rental income attract cash from as far afield as Hong Kong, Qatar
      Bloomberg  -  365 words
    • 484 13 It fears lenders will be forced to dump mortgage debt Bloomberg [BRUSSELS] Denmark says the Basel Committee on Banking Supervision’s rules will force the country’s lenders to dump top-rated mortgage debt to meet liquidity requirements and may destroy the world’s third-biggest covered-bond market. The
      Bloomberg  -  484 words
    • 557 13 Slowing population growth deprives it of seat in House Bloomberg [SACRAMENTO] California, facing US$28 billion in deficits, may see its congressional clout wane as slowing population growth deprives it of a new seat in the US House of Representatives for the first time in its
      Bloomberg  -  557 words
  • Page 12 Advertisements
    • 8 12 www.omy.sg %s? o 1 m lifestyle, omy.sg yzone.omy.sg
      8 words
    • 190 12 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF POWERWAVE SINGAPORE PTE. LTD. COMPANY REGISTRATION NO. *****5438W Notice is hereby given that at an extraordinary general meeting of the abovenamed company duly convened and held on the 21st day of December 2010, the following resolutions
      190 words


  • CHILDAID 2010
    • 604 14 CHARITY concert ChildAid 2010 went on before nearly 3,800 spectators at the grandiose Resorts World Sentosa Compass Ballroom on Dec 17 and 18. Under the spotlight were the 144 child performers aged seven to 19. Their singing, dancing and entertaining raised $1.28
      PHOTOS BY JOHN HENG; DESMOND WEE/THE STRAITS TIMES  -  604 words


  • EDITORIAL & OPINION
    • 478 16 EDITORIAL THE export growth model has served the East Asian economies well. Japan was the first to lead the way. It was followed by South Korea, Taiwan, Hong Kong, Singapore, Malaysia, and now China and Vietnam. Hundreds of millions of Asians have been lifted out
      478 words
    • 769 16  -  THE BOTTOM LINE LEON HADAR Washington Correspondent NEW demographic data recently released by the US Census Bureau, based on a sample taken between 2005 and 2009 (aka the American Community Survey), points out that America’s younger population is becoming more “diverse”, which is
      769 words
    • 1059 16  -  They cut cost of capital, expand product market and save firms from corporate raiders By NUNO FERNANDES The writer is professor of finance at IMD, the leading global business school based in Lausanne, Switzerland (www.imd.ch), where he directs the Strategic Finance programme SOVEREIGN wealth funds
      REUTERS  -  1,059 words
    • 1622 17  -  Instead of ruling out highly plausible outcomes, it should explain how it will react if defaults happen By CHARLES WYPLOSZ The writer is professor of international economics at the Graduate Institute, Geneva and director of the International Centre for Money and Banking Studies LORENZOBini-Smaghi,member
      AP  -  1,622 words
    • 730 17  -  REUTERS BREAKINGVIEWS By HUGO DIXON CAN you buck markets? Margaret Thatcher said you couldn’t; Angela Merkel, by contrast, believes in the “primacy of politics”. Who’s right depends on whether politicians have the will to change the unpleasant reality that markets can reflect. The
      730 words


  • AVIATION/SHIPPING
    • 389 18 Rains hit coal ops, dampen vessel demand in Australia; coal mines declare force majeure Reuters [SINGAPORE] Freight rates for panamax bulk carriers on key Asian routes are expected to fall to fresh 2010 lows next week as heavy rains disrupt coal operations and dampen vessel
      Reuters; BLOOMBERG  -  389 words
    • 278 18 SGX '000 Dec 23 S$ +/-Vol CH Offshore 0.49 -0.01 8 Chuan Hup Hldg 0.23 -0.01 90 Cosco Corp 2.05 -0.02 2623 CWT Ltd 0.98 0.01 279 Ezra Hldgs 1.77 0.06 ***** First Ship Lea 0.46 unch 203 Freight Links 0.07 unch 688 Grand Banks 0.36 -0.03 6
      278 words
    • 434 18 Move likely to shake up global travel industry, warn observers AFP [CHICAGO] American Airlines has severed its decade-long ties to online travel giant Orbitz, in a move that experts said could shake up the global travel industry if other airlines follow
      AFP  -  434 words
    • 291 18 Reuters [PARIS] Major aircraft producing nations have agreed on a deal to bring state financial support for exporting commercial aircraft more in line with market rates, the OECD said on Wednesday. The agreement between Brazil, Canada, Japan, the United States and the
      Reuters  -  291 words
    • 451 18 Reuters [LONDON] The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in almost five months on Wednesday as weather disruptions continue to hamper activity. The index, which gauges the cost of shipping commodities including
      Reuters  -  451 words
    • 3324 18 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi KU6457 1230 SQ456 1245 SQ457 1230 EY470 2200 VA7470 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
      3,324 words
  • Page 18 Advertisements

  • SINGAPORE STOCKS
    • 8875 19 Transaction date: Dec 23 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 18.5 unch 200 18.5 18.5 18 18.5 1.7 9.8 5.9 88.6 12 4.5 5834
      8,875 words
    • 1890 20 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 163 +1 1 163 163 154
      1,890 words
    • 9439 20 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.34/ APS Alpha Fund (USD)!** 1.02/ 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
      9,439 words
    • 854 20 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 $mil 124 107 6389 ABF SG Bond ETF 112 +2 4 112 112 111 112 511.3 1056 761 CIMBAsean40 100US$ US1002 +1 17 1002 1002
      854 words
    • 77 20 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 $mil 56 38 6000 AVJennings A45.5 -2 1 45.5 45.5 45.5 49.5 3.6 7.7 3.6 118.5 55 16 6017 Genting HK US$ US43 +0.5 7741 43
      77 words


  • FINANCE & COMMODITIES
    • 374 21 In local curr In S$ In US$ dy yr dy yr dy yr Dec 22 Index Change Change Change Change Change Change World Index Preliminary 903.1 0.2 8.5 -0.2 1.5 0.2 9.0 EAFE Preliminary 812.1 0.1 3.5 -0.3 -3.1 0.0 4.0 Europe Preliminary 1189.8 0.1
      374 words
    • 178 21 Dec 23 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.05 US$ Offer Bid 7 days 0.45 0.35 1 month 0.45 0.35 2 months 0.45 0.35 3 months 0.46 0.36 6 months 0.56 0.46 9 months 0.80 0.65 12
      178 words
    • 23 21 Dec 23 S$ S$ Bid Offer 1-month 1.3054 1.3057 2-months 1.3054 1.3057 3-months 1.3055 1.3057 6-months 1.3055 1.3057 Source: OCBC
      23 words
    • 121 21 Dec 23 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.348 1.272 Can dollar 1.314 1.264 Euro 1.746 1.679 Sterling pound 2.05 1.972 NZ dollar 0.998 0.951 US dollar 1.327 1.276 Local dollars to 100 units of foreign
      121 words
    • 27 21 Dec 23 Open High Sett STI Dec 3138 SIMSCI Dec 371.4 373.0 370.5 Taiwan Dec 315.3 317.0 316.4 Source: MF Global (S) Pte. Ltd
      27 words
    • 126 21 Dec 23 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 11 494.0 492.0 494.0 190 Feb 11 493.5 492.0 493.5 40 Mar 11 493.0 492.0 494.0 25 Apr 11 494.0 May 11 494.0 Jun 11 494.0 Jul 11
      126 words
    • 88 21 Dec 23 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 24.03.2011 0.38 1-Year BY*****N 01.11.2011 0.41 0.37 0.36 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 103.61 103.68 103.68 5-Year N*****0S 2.875 01.07.2015 106.70
      88 words
    • 107 21 Dec 22 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1328.75 1326.25 1333.00 1317.50 Mar 11 1339.75 1337.50 1343.75 1328.50 May 11 1346.75 1344.50 1350.50 1336.75 Jul 11 1349.00 1346.25 1353.00 1337.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 11 55.97
      107 words
    • 77 21 CRUDE OIL PRODUCTS Dec 22 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 93.82 0.33 WTI (Near Mth) 89.84 0.73 Dubai (1-Mth F) 90.26 0.44 Tapis blend 98.10 0.85 Minas 94.00 0.85 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 95.17 -0.22 Jet Kerosene 105.30 1.20 US$/barrel Opec Oil
      77 words
    • 82 21 Dec 22 COCOA (£/tonne) Close Prev High/Low Mar 11 2009 2008 2010/1989 May 11 2018 2016 2018/2000 Jul 11 2026 2028 2030/2012 Sep 11 2033 2034 2037/2020 COFFEE (US$/tonne) Close Pev High/Low Jan 11 1988 1990 2023/1980 Mar 11 2012 2010 2043/2000 May 11 2029 2023 2055/2014 Jul 11
      82 words
    • 2332 21 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 563 1 3 2.50 0 AFP Properties EW*****8 30.5 unch 81 1 10 -5 1.39 59 6221 Asia-Pacific Strat W*****6 32 2.5 1
      2,332 words
    • 464 21 Dec 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.015 6.663 0.764 7.804 45.263 90.751 0.832 11.537 3.123 1.344 85.986 44.240 1.310 6.802 0.954 29.985 30.252 0.651 1.003 Canada 0.985 6.566
      464 words
    • 85 21 Dec 23 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 154 21 Dec 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3092 1.3100 1.0028 1.0033 Canadian dollar 1.2899 1.2910 0.9880 0.9887 Euro 1.7143 1.7146 1.3131 1.3132 NZ dollar 0.9742 0.9750 0.7462 0.7467 Sterling pound 2.0120 2.0130 1.5412 1.5417
      154 words
    • 139 21 Dec 23 GOLD (US$/oz) Dec 23 Dec 22 Hong Kong 1386.30 1389.00 Dec 22 Dec 21 London 1386.80 1384.62 1387.70 1385.39 Source: Thomson Reuters CAST BAR Dec 23 (S$) Selling Buying Kilobar 62,627.10 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 140 58 5gm 398 292 10gm 711
      139 words
    • 69 21 Dec 22 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2452.75 2424.50 3 months 2462.00 2435.00 Copper, Grade A (US$/tonne) Cash 9403.00 9405.00 3 months 9350.00 9365.00 Lead (US$/tonne) Cash 2443.50 2443.00 3 months 2440.00 2434.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 66 21 Dec 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 11 3693 3720 3720 3691 403 4632 Feb 11 3655 3690 3705 3655 2654 ***** Mar 11 3653 3658 3676 3642 9675 ***** Apr 11 3630 3638
      66 words
    • 401 21 Dec 23 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar11 99.5950 0 3671 Jun11 99.4850 0 1709 Sep11 99.3400 0 795 Dec11 99.1450 0 463 EUROYEN TIBOR FUTURES Mar11 99.6550 99.6550 99.6550 99.6550 2 1994 Jun11 99.6400 0 1389 Sep11 99.6250 0 1064 Dec11 99.6150 0
      401 words
    • 5838 22 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 DING XIANG HAI Camden/New Orleans/Tampico *Loads
      5,838 words


  • Page 23 Advertisements
    • 29 23 I FREIGHT FORWARDER urgently needed by shippers I Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      29 words

  • Page 24 Advertisements
  • executive lifestyle
    • PURSUITS
      • 1224 24  -  Wine pundits rave about the Lafite Rothschild 1981, says NK YONG NK YONG IN SINGAPORE today, we are spoilt for choice in fine wines. The choice is vast in all categories, varietals, wine regions, and in styles. There are fine wines to suit all budgets, all menus
        1,224 words
      • 628 24  -  Monopoly for iPad Rating: A Sonic Free Riders Rating: B GAMING REVIEWS By CHRISTOPHER LIM PHYSICAL board games like Monopoly and Scrabble used to be a mainstay of parties, but that’s changed now that everyone has got their personal game libraries in mobile phones and
        628 words
      • 802 24  -  By A G SULZBERGER NYT CHRISTMAS hasn’t come yet but Hallmark, like a fashion house, is already hard at work on next year’s line. There will be fewer cards with generic sayings like “Happy holidays” and “Seasons greetings,” continuing the backtracking from a much-criti-cised
        NYT; BLOOMBERG  -  802 words
    • ARTS/CHRISTMAS
      • 1239 25  -  After years sowing arts infrastructure, China reaps a flowering of original opera, reports SHEILA MELVIN SHEILA MELVIN NYT ON THE frosty first Saturday of December, crowds packed the opera house of the National Center for the Performing Arts in Beijing to see Xi Shi,
        NYT; XINHUA  -  1,239 words
      • AROUND TOWN
        • 390 25 OVER 50 Chinese ink, watercolour and oil paintings will be shown in the exhibition Chen Chong Swee: The Legacy of Truth, Goodness and Beauty that marks the centenary of the artist’s (right) birth, organised by the Nanyang Academy of Fine Art (Nafa) together with
          390 words
        • 185 25 Michelle Chang (or Mysh, for short) has a unique body of captivating and vibrant cat-inspired art that has been well-re-ceived since her debut as an artist in 2002. Her previous CatmaSutra collections at Utterly Art Exhibition Space where she regularly showcases her work have almost always
          185 words
        • 265 25  -  By CHEAH UI-HOON A “growing” exhibition at library@esplanade features some of the earliest performing places that have played significant roles in the development of the Singapore arts scene. With iconic venues such as the National Theatre and World Trade Centre auditorium no longer in existence, Kallang Theatre
          265 words
      • Fir real and fake ice
        • 181 25 CHRISTMAS IN THE CITY FILLED with visions of ice skating at New York’s Rockefeller Centre? You won’t need a down coat, much less a jumper to skate at MBS’ latest attraction, located near its newly opened mega food court. It looks like ice and people
          MBS SKATING RINK  -  181 words
        • 149 25 The Jewel Box (above) at Mount Faber is transformed into a sparkling winter wonderland as the popular Jewel Christmas Musical Light and “Snow” Show returns for its sixth year. The highlight is its 61-m high satellite tower that has been turned into a
          149 words
        • 76 25 The hotel’s quaint historic facade lends a nice old English feel to Christmas, accentuated by its annual Christmas Eve carolling sessions in the lobby. This year, expect classic and contemporary carols from NJChorale, the National Junior College Alumni Choir. Time: Today, 7.30pm to 8pm; and
          GOODWOOD PARK HOTEL  -  76 words
        • 102 25 Another heritage icon, Raffles Hotel offers a bit of old-world charm, especially with what it claims to be the biggest live Christmas tree in town. The 6-m noble fir takes pri---de of place in the main lobby, and has done
          102 words
        • 108 25 If you ever feel like moving house, you could take up seasonal residence in Orchard Hotel’s life-size gingerbread house which this year has been turned into a giant abode for lollipops as can be seen from its multicoloured candy walls.
          ORCHARD HOTEL  -  108 words
    • MUSIC
      • 781 26  -  Sought-after arranger and songwriter Owen Pallett puts the spit and polish on his own album of songs at last, writes LYNN KAN LYNN KAN VIOLINIST Owen Pallett isn’t your typical tuxedoed orchestral musician. But one might mistake the indie artist as stuffy and inaccessible for another
        DAVID WALDMAN  -  781 words
      • 543 26  -  BLU-RAY REVIEWS By CHRISTOPHER LIM THE Singapore Symphony Orchestra’s become quite the Mahler expert in recent years under the leadership of Lan Shui, so it’s fitting for the local ensemble to capture its interpretation of Mahler’s tenth symphony. Although the concert marked the SSO’s first performance
        543 words
      • 656 26  -  CD REVIEWS By CHRISTOPHER LIM IT MAY be Christmas tomorrow but not everybody wants to play carols all day long certainly not when you want to add sex or sizzle to a gathering. Ne-Yo’s Libra Scale is perfect R&B party fodder, especially when drinks are
        656 words
      • 487 26  -  By MIKE CIDONI NYT A YEAR after releasing their first hit album, the Canadian Tenors are delivering The Perfect Gift, a compilation of traditional and contemporary holiday music. “You have the classics like O Holy Night and Silent Night, but there are songs that are not
        NYT; AP  -  487 words
    • CINEMA
      • 694 27  -  The Fockers franchise laughs all the way to the bank again with the feuding Ben Stiller and Robert De Niro, writes DYLAN TAN DYLAN TAN DON’T let the title or poster mislead you or the largely negative reviews so far dissuade you from catching the third movie
        PHOTOS: AP  -  694 words
      • 585 27  -  By DYLAN TAN YOGI Bear was one of the first breakout characters created by legendary American animation studio Hanna-Barbera after popping up as a supporting character on The Huckleberry Hound Show in 1958. His popularity was enough to earn him his
        WARNER BROS  -  585 words
      • 620 27  -  By DYLAN TAN UNLIKE most actors, comedian Jack Black has a knack for turning his characters into him rather than vice versa. It worked brilliantly in an animated feature like Kung Fu Panda where the latter is modelled after the rotund actor but
        PHOTOS: P  -  620 words
    • 1830 28  -  Shaped like a lotus bud in mid-blossom, the ArtScience Museum at Marina Bay Sands opening on Feb 17 next year, is the only cultural symbol in the world that bridges two opposites art and science, report WOON TAI HO and JAIME EE WOON TAI HO ,JAIME EE
      PHOTOS: MBS MUSEUM  -  1,830 words



  • Page 27 Miscellaneous
    • 300 27 CRYPTIC CROSSWORD Across 1 Former PM in the Commons perhaps lying in the past (11) 7 After drink feature long discussion (5-2) 8 Nuts mixed up in a cult (7) 10 Have beer ’n’ play around it’s a man’s thing (8) 11 Appoint by way of token (6) 13 Deer’s
      300 words