The Business Times, 21 December 2007

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Microfilm: NL28596
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    26 1 THE BUSINESS TIMES Singapore 85 cents online at http://business-times.asial .com.sg «hW A SINGAPORE PRESS HOLDINGS PUBLICATION co regn no *****2868E mica (p) 122/12/2007 Friday, December 21,2007
    26 words
  • Article
    Lock icon US warns of credit card fraud with a S'pore tagline
    499 1  -  ANNA TEO Crooks masquerade as Singapore companies but shipments are diverted elsewhere [SINGAPORE] Singapore is used as a conduit for credit sard fraud, the US Commercial Service has been warning American exporters shipping to the Republic. In a full-page warning
    499 words
  • MARKETS DIGEST
    • Article
      Lock icon MARKETS
      47 1 lursday Closed lange ;t index ICOMP Closed IIKKEI225 15,031.60 +1.09 IANG SENG 27,017.09 -12.17 ;et index 791.71 -13.27 JAKARTA COM P Closed 1ANILACOMP 3,491.96 +25.68 ;eoulcomp 1,844.37 -17.10 ;henzhen B 679.18 +2.36 IUMBAI IND 19,162.57 +70.61 11AM EDT Change 13,199.79 -7.48 )OW IAS DAI 2,615.43 +14.42
      47 words
    • Article
      Lock icon PRIME RATES
      29 1 SINGAPORE 5.33 MALAYSIA 6.74 HONG KONG 6.75 INDONESIA 15.200 TAIWAN 6.156 JAPAN 1.875 KOREA 9.33 BRITAIN 5.50 US 7.25 CANADA 6.00 SWITZERLAND 3.84 INDIA 12.75 Source: Bloomberg
      Bloomberg  -  29 words
    • Article
      Lock icon FOREX
      36 1 IS$ (S$ per US$) 1.461 (US$/S$ per 2.013 2.93! :URO(US$/S$/E) 1.439 2.101 'EN 113.20 77.5I 3.354 2.29' IK$ 7.802 5.34. !AHT 33.67 23.0I lUPIAH 9,425 6,45' lENMINBI 7.382 5.05I INDIAN RUPEE 39.58 27.11 1.162 0.79!
      36 words
  • Article, Illustration
    Lock icon Raffles Conversations now as a book near you
    375 1  -  NISHA RAMCHANDANI 2007 volume goes on sale, kicking off an annual series [SINGAPORE] The compelling success of Raffles Conversations: A Collection from The Business Times, which was released last year, has sparked off an annual series starting with the Raffles Conversations 2007
    PHOTOS: JOHN HENG  -  375 words
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  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      44 1 llAll PROPERTY J» TANGLIN CLUB TELCOS y- lilll Office sector will still I acted within rules, .^^j* Stocks expected to I 1 be buoyant jfll says club treasurer jy^Y^ ring in good value 111 PAGE 2 PAGE 3 I PAGE 4 ■fe #l#M CHRISTMAS
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  • TOP STORIES
    • Article, Illustration
      Lock icon Calm replaces frenzy, but office sector will still be buoyant
      874 2  -  ARTHUR SIM Supply remains tight in short-term, prices may rise slower in 2008 [SINGAPORE] The tight supply of office space seen this year will spill over into 2008, keeping rents buoyant and rising in the region of 20 per cent
      874 words
    • THREE-MINUTE DIGEST
      • Article
        Lock icon I acted within rules, says Tanglin Club treasurer
        62 2 TANGLIN Club treasurer Glenn Bryce has defended himself against allegations by some members that he breached the club's rules. More than 100 members have claimed that by splitting the $450,000 cost of gym equipment into two parts, he circumvented the club's rules
        62 words
      • Article
        Lock icon Telco stocks expected to ring in good value
        82 2 SINGAPORE'S three telco stocks are among the best bets as defensive stocks for next year amid economic uncertainty and continuing volatility in the financial markets. Not surprisingly, Singapore Telecommunications, the biggest listed company by market capitalisation here, gets the most votes. But
        82 words
      • Article
        Lock icon Hong Leong Finance headed for record Year
        80 2 "EXCEPTIONAL" and "a very good year" were just some of the words and phrases used by a happy lan Macdonald, president of Hong Leong Finance, to describe the last 12 months at Singapore's largest finance company. For the first nine months of this
        80 words
      • Article
        Lock icon Japan plans Slightly higher spending next year
        72 2 THE Japanese government said yesterday it plans to raise overall spending slightly next year as it battles with the politically sensitive problems of depressed local economies and rising social security costs in a rapidly ageing society. But while higher tax revenue means dependence
        72 words
      • Article
        Lock icon Another strong year ahead for Malaysian bourse: CIMB
        71 2 ANALYSTS are generally optimistic about the Malaysian stock market performance next year, citing 2007's rise by around 30 per cent since January and the strong earnings posted by most companies this year. Indeed, investment bank CIMB estimates that the benchmark composite index
        71 words
      • Article
        Lock icon China ups interest rates tor sixth time this year
        78 2 CHINA raised interest rates for a sixth time tnis year to c°ol decade-high inflation in the world's fastest-growing maJor economy. The benchmark one-year lending rate will increase to 7.47 per cent, a nine-year high, from 7.29 per cent, starting today, the
        78 words
      • Article
        Lock icon New Korean president faces tough economic challenges
        86 2 SOUTH Korean president-elect Lee Myung Bak will struggle to fulfil his promise to revitalise the economy as emerging Asian rivals steal manufacturing jobs, and markets in the developed world are buffeted by credit problems. Growth has averaged just over 4 per cent a
        86 words
    • Article
      Lock icon I acted within rules, says Tanglin Club treasurer
      589 3  -  CONRAD RAJ Glenn Bryce rebuts report by KPMG as 'it is not a law firm' [SINGAPORE] Tanglin Club treasurer Glenn Bryce has defended himself against allegations by some members that he breached the club's rules. More than 100 members have claimed that
      589 words
    • Article
      Lock icon Gloomy indicators show recession could be looming
      403 3 -Bloomberg, AP LATEST US DATA Conference Board's gauge falls for third time in 4 months [WASHINGTON] The index of leading economic indicators fell for the third time in four months in November, signalling an increasing risk of a US recession. The Conference Board's
      -Bloomberg,; AP  -  403 words
    • Article
      Lock icon India cuts duties on imports from S'pore
      180 3 Bloomberg NEW DELHI] India has decided to reduce or eliminate iuties on the import of 539 products from Singapore, a nove aimed at expanding trade between the two lations. India and Singapore have decided to amend ;heir Comprehensive Economic Cooperation Agreement ;o make
      – Bloomberg  -  180 words
    • Article, Illustration
      Lock icon Raffles Conversation
      35 3 KPMG International's new chairman Tim Flynn on the pressing new challenge facing companies and the accounting industry worldwide and how it's set to happen sooner rather than later. In the Raffles Conversation tomorrow
      35 words
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      Lock icon Page 2 Advertisements Column 1
      1308 2 1 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 J A P\ P IN THE MATTER OF ACOPIA NETWORKS PTE LTD technologies (Members' Voluntary Liquidation) Reg No. *****6899E NOTICE OF RESOLUTIONS JADE TECHNOLOGIES HOLDINGS LTD. At an Extraordinary General Meeting of the Co. Reg No. *****3839Z abovenamed Company duly
      1,308 words
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      Lock icon Page 2 Advertisements Column 2
      11 2 people t Roaming VVOrK Asia-Pacific. www.thepeopleatwork.com Asia-Pacific Executive Search ■cSWKfijSKBKTMM^-f l^;^^i.
      11 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Telco stocks expected to ring in good value
      713 4  -  SIOW LI SEN Analysts see them as fairly safe bets in times of economic uncertainty next year SINGAPORE'S three telco stocks are among the best bets as defensive stocks for next year amid economic uncertainty and continuing volatility in the financial markets.
      FILE PHOTO  -  713 words
    • Article
      Lock icon Air China cool on China Eastern-SIA deal: report
      187 4 Reuters [SHANGHAI] China Eastern Airlines failed to win a gesture of support from its rival and shareholder Air China for a stake sale to Singapore Airlines (SIA) during a meeting of top executives, the Shanghai Securities News reported yesterday. Citing unnamed sources,
      – Reuters  -  187 words
    • Article
      Lock icon China Aviation buys more jet fuel for Feb delivery
      288 4 -Reuters [SINGAPORE] China Aviation Oil (Singapore) Corp Ltd (CAO) has bought by tender 465,000 tonnes of jet fuel for delivery next February, up from 295,000 tonnes bought for January due to strong festive demand, traders said on Wednesday. The premiums were
      -Reuters  -  288 words
    • Article
      Lock icon How bullish is the outlook for stocks?
      670 5  -  R SIVANITHY A READING of the 2008 outlook reports that brokers are issuing reveals an overriding message that although stock markets are in for a volatile few months ahead, investors should look to buy the dips because equities are still attractive and the
      670 words
    • Article, Illustration
      Lock icon Hong Leong Finance on course for record year
      719 6  -  SIOW LI SEN 9-month net profit up 35% at $94.5 m, just shy of $96.2 m for full-year 2006 "EXCEPTIONAL" and "a very good year" were just some of the words and phrases used by a happy lan Macdonald, president of Hong
      FILE PHOTO  -  719 words
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      1901 4 NOTICE OF FIRST IN THE HIGH COURT OF THE IN THE MATTER OF CONTRIBUTORIES1 MEETING REPUBLIC OF SINGAPORE THE COMPANIES ACT, CAP. 50 Lee Tung Company (Private) Limited CWUO.S.No. in the matter of 10 ""^TtheMatterofth. CARoISa™ ENg5 TPOR RE OPTEL T D *<SS!SK3r.s!?S tratlon, In the Hatter of the (In
      1,901 words
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      Lock icon Page 4 Advertisements Column 2
      605 4 fmDR mDR Limited (Incorporated in the Republic of Singapore) (Company Registration Number: *****9059G) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held on 10 January 2008 at 4.00 p.m. at The Chevrons, 48 Boon Lay Way, Singapore *****1 for the purpose of considering, and
      605 words
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      32 5 'j dftt flcI.^- aji^-j^^j^* >^|^"|mjm H9ct 4HM tJMHMBBMB^ JflßtfrißMto HrifitiHttfT "^WH^^FjMlkflMH^ 1 -tli 3 r— r«— OPEN YOUR EYES AND MAKE A WISH Liat Towers Tel. 6738 9807 Takashimaya Tel. 6735 5228
      32 words
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      Lock icon Page 5 Advertisements Column 2
      70 5 Warnm m? I! I PbNTEIRO ■GOLFER TELLS IT LIKE ITIS t) sPHmagazines A SUBSIDIARY OF SINGAPORE PRESS HOLDINGS ZAP BID HIGHEST BIDDER! HIV ■I H II tninm J Congratulations to Ms. Ann Lim (ICXXXXB77Q. Proud Owner of a Brand New Love Buddy Seat from Think Gallery. Keep on ZAPPING! You
      70 words
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      Lock icon Page 6 Advertisements Column 1
      226 6 i^l^l Centrino I Ba*lßrirMfutelJl Complimentary Complimentary Dedicated Onsite Installation 1 -time Maintenance Service 24-hr Help Line CALL TO PURCHASE: 1800 278 0182 VISIT: Your nearest HP retailer I CLICK: www.hp.com.sg/conciergeservice Intel's numbering is not a measurement of higher performance. HP retailers: AAAs Com Solution Re Ltd (Sim Lim Square) *****953,
      226 words
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      Lock icon Page 6 Advertisements Column 2
      76 6 TjPJJFatributeto our pioneers Q: Which Spore founding father sang Hindi and Bengali songs? DevanNair I^H3 They are our founding fathers. wgM Know all of them? MX Learn more about the 10 political pioneers f\ ■|Ij W ho made a difference to all our lives. ML 2| Get this value gift
      76 words
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      196 7 bb^ V i Br Jk v' BP^t^v^ **v. ißnfl '4b: bbt^ *fli BbT *"*l fffl^Br BK Bfl i w HH^P' f JriCal B^T BHBk Jff t 4 J BB^^^ BfIBBVBV/ ~^_BBBB AVJ H v# BbTI ffV, JjH i w J BFV i J b^bbl ijfl k bbbiT^bV B 4k Xr-^jw
      196 words
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  • FOCUS: SUB-PRIME FORAYS
    • Article, Illustration
      Lock icon Wall St gets US$25b in Chinese, Mid-East cash
      906 8 Bloomberg, LAT-WP While some frown on the moves, others say financial bailouts necessary [NEW YORK] Wall Street is turning to Asian and Middle Eastern governments for US$25 billion to prop up balance sheets battered by writedowns from the collapse of the US
      – Bloomberg,; LAT-WP; AP  -  906 words
    • Article
      Lock icon CIC eyeing profits, not strategic stakes: analysts
      533 8 Reuters [BEIJING] China Investment Corp may still be operating out of makeshift offices, but with its US$5 billion investment in Morgan Stanley the contours of the infant sovereign wealth fund's strategy are becoming clearer. Analysts say CIC, as it has always stated, seems
      – Reuters  -  533 words
    • Article
      Lock icon China govt fund buys small stake in ANZ
      133 8 -Reuters [SYDNEY] A Chinese government fund has bought a less than 5 per cent stake in Australia and New Zealand Banking Group (ANZ), a spokesman said yesterday. He declined to comment on the exact size of the stake and the price, but
      -Reuters  -  133 words
  • Page 8 Advertisements
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      58 8 L^2mJ MACAU Now The Preferred Destination for Meetings £r Incentives fcLwliL Choose from a wide range of meeting venues with state-of-the-art facilities, brave your selection of EXPERIENCE HAAJaaxUft^y exciting team building activities, and treat your business partners to unique theme parties and receptions. §111(1111 mTfjU j All these and more
      58 words
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      65 9 THE VERY EPITOME OF PERSONALISED SERVICE. There is no service like the St. Regis service. And what makes the service stand apart is the supreme bespoke attention of that most civilised of individuals, the St. Regis Butler. Every room in the St. Regis Singapore is supported by the meticulous attention
      65 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Japan plans slightly higher FY08 spending
      560 10  -  ANTHONY ROWLEY Public debt growing despite increased tax revenue, says Finance Ministry THE Japanese government said yesterday it plans to raise overall spending slightly next year as it battles with the politically sensitive problems of depressed local economies and rising social security costs in
      REUTERS  -  560 words
    • Article
      Lock icon MBIA says it has US$30.6b exposure to CDOs
      380 10 Reuters, Bloomberg Statement sends its stock plunging in early trading [NEW YORK] MBIA said it has exposure to US$3O.6 billion of collateralised debt obligations (CDOs) it insures, including a large exposure to risky bonds known as CDO squared, sending its stocks plummeting
      – Reuters,; Bloomberg \  -  380 words
    • Article
      Lock icon Fed auction helps, but more may be needed
      580 10 Reuters NEWS ANALYSIS Underlying problems go beyond year-end funding pressures [NEW YORK] The US Federal Reserve's unprecedented action this week to channel funds to a wider range of banks will help meet year-end funding needs, but more may be needed as underlying
      – Reuters  -  580 words
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      448 10 l 3 X AToastto 2008 at v Amara Sanctuary Resort Sentosa l It is indeed a time for indulgence this y New Year's at Amara Sanctuary Resort Sentosa. J Treat your palate to sumptuous international N. j feasts and retreat to luxurious accommodations for an individual experience. SUMPTUOUS FESTIVE FEASTS
      448 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Another strong year ahead for Malaysian bourse: CIMB
      523 11  -  S JAYASANKARAN Benchmark index could hit 1,700 or 22% above current levels ANALYSTS are generally optimistic about the Malaysian stock market next year, citing 2007's rise by around 30 per cent and the strong earnings posted by most companies this year. Indeed,
      523 words
    • Article
      Lock icon Mitsubishi in venture to build Sulawesi LNG plant
      164 11 Reuters JAKARTA] Mitsubishi Corp has agreed on a joint venture with Indonesia's state oil firm, Pertamina, and PT Medco Energi Internasional Tbk to build an LNG plant in Sulawesi, a Medco official said on Wednesday. "We have signed a joint venture agreement
      – Reuters  -  164 words
    • Article
      Lock icon More possible suitors for Herald
      220 11 Reuters [SYDNEY] Herald Resources Ltd, the target of a hostile A 5455 million (***** million) takeover offer from Indonesia's PT Bumi, said it was in talks with other possible suitors and told shareholders not to take any action. Australian-listed Herald said yesterday it had received
      – Reuters  -  220 words
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      228 11 SPLENDOUR MERRIMENT SPIRIT I -night Sanctuary Room I -night Sanctuary Room I -night Sanctuary Room Accommodation Accommodation Accommodation Christmas Breakfast tor 2 Christmas Eve Set Dinner for 2 Christmas BBQ Buffet for 2 Christmas Day Brunch for 2 Christmas Day Brunch for 2 H Ss3oonett Ss6s2nett Ss692nett H I Upgrades:
      228 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon China ups rates for the sixth time this year
      592 12 Bloomberg Benchmark lending rate rises to 9-year high of 7.47% as inflation soars [HONG KONG/BEIJING] China raised interest rates for a sixth time this year to cool decade-high inflation in the world's fastest-growing major economy. The benchmark one-year lending rate will
      Bloomberg  -  592 words
    • Article, Illustration
      Lock icon FROZEN FANTASY LAND
      57 12 AFP [HARBIN, China] Workers adding finishing touches to a giant snow sculpture here on Tuesday. The 20th Harbin International Ice-Snow Sculpture Expo opened yesterday, here in north-eastern Heilongjiang province. China, a rising tourism powerhouse that drew 49.6 million foreign visitors last year, could unseat France as the
      AFP  -  57 words
    • Article
      Lock icon SCMP shares soar on buyout offer
      213 12 Bloomberg [HONG KONG] SCMP Group Ltd, publisher of the South China Morning Post newspaper, rose the most in over four years here yesterday after receiving a HK52.37 billion (***** million) buyout offer from controlling stockholder Robert Kuok. The shares gained as much as 8.8
      – Bloomberg  -  213 words
    • Article
      Lock icon Beijing to double subsidies for pig farmers
      222 12 -AP [BEIJING] China is promising to double subsidies for pig farmers to boost pork production and cool an inflation surge blamed on food shortages, a state news agency reported yesterday. The announcement adds to a string of efforts to end shortages of pork
      -AP  -  222 words
    • Article
      Lock icon China risks investment rebound, warns official
      457 12 Bloomberg, Reuters Planning body cites rapid rise in new projects this year [BEIJING] China risks an investment rebound in 2008 after new projects increased rapidly this year, an official from the nation's top planning agency says. Guo Lanfeng, a department deputy director at the
      Bloomberg, Reuters  -  457 words
    • Article
      Lock icon Suzlon share sale raises US$552m
      396 12 Bloomberg Money will be used to repay debt taken to fund acquisitions [MUMBAI] Suzlon Energy Ltd, India's biggest maker of wind-turbine generators, raised US$552 million by selling shares to selected investors to repay part of the debt raised to fund the acquisition of Germany's Repower
      – Bloomberg  -  396 words
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      133 12 §f We train so many Goodness, no. people that we I Never again have to create 9 MSHi^ would I run for restaurants for president of the them. United States. I'm quite clear about the uselessness of nostalgia. I XaM live fully in the places that M I wA I
      133 words
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      575 13 Carrefour 4w¥ BHMI \^Mp^ p m^S^Q^^fl II ,7.'? y v HAUTES COTES DE LES FILLOTTES DE LA LES TOURS DE LESGONDATSDE CHABLISIERCRU H^^HH BEAUNE LANGERON PATACHE POMEROL LOUDENNE MEDOC MARQUIS DE TERME LANGERON WHITE H^^^B Mm. I Origin: France Origin: France SB Origin: France MARGAUX flE 1. Origin: France SB
      575 words
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  • ASIA-PACIFIC/WORLD
    • Article
      Lock icon Tough economic challenges for new Korean president
      531 14 Reuters Focus needed on domestic economy, services sector productivity: analysts [SEOUL] South Korean pres-ident-elect Lee Myung Bak will struggle to fulfil his promise to revitalise the economy as emerging Asian rivals steal manufacturing jobs and markets in the developed world are buffeted by
      Reuters  -  531 words
    • Article
      Lock icon Property funds raise US$67.5b this year
      352 14 Bloomberg [LONDON] Real estate fund managers raised U5567.5 billion for private investment pools this year, surpassing the U5567.2 biUion raised in all of 2006, according to a survey by Private Equity Intelligence, a UK research firm. "Investor appetite for the asset class shows no
      – Bloomberg  -  352 words
    • Article, Illustration
      Lock icon UBS flies up European M&A rankings to No 2
      723 15 Reuters Up from 7th place; Morgan Stanley retains top spot, Goldman slips to 3rd [LONDON] ÜBS has stormed to second place on a league table of Europe's top merger and acquisition (M&A) advisers for 2007 from seventh place the previous year,
      – Reuters; REUTERS  -  723 words
    • Article
      Lock icon Ethos calls for independent audit of UBS's credit controls
      298 15 Bloomberg [GENEVA] ÜBS shareholder Ethos Foundation has called for an independent audit of the bank's credit control mechanisms to explain why it had to write down US$lO billion this month in US mortgage investments. Ethos, which holds ÜBS shares worth 80
      – Bloomberg  -  298 words
    • Article, Illustration
      Lock icon New US energy law targets gas guzzlers
      505 15 -AP [WASHINGTON] Gas guzzling cars could become relics of the past and farmers may rival oil companies in producing motor fuels under a new energy law. Consumers also will save electricity and money from more efficient refrigerators, furnaces and dishwashers. There will be
      -AP; AP  -  505 words
    • Article
      Lock icon Citigroup axes 30 staff in structured credit division
      296 15 Bloomberg Move comes a week after new CEO pledges cost review [NEW YORK] Citigroup, the biggest US bank, dismissed about 30 employees in its structured-credit group after record mortgage-relat-ed losses, said three people with knowledge of the decision. The cuts reduced the
      – Bloomberg  -  296 words
    • Article
      Lock icon Bear Stearns reports its first ever loss in Q4 of US$859m
      459 15 -AP, Reuters No bonus for CEO; US bank sued by Barclays over fund [NEW YORK] Bear Steams Cos, the No 5 US investment bank, yesterday said a bigger-than-expected writedown in its mortgage portfolio caused the first quarterly loss in
      . -AP,; Reuters  -  459 words
    • Article
      Lock icon Credit woes hurting Asian debt: Moody's
      344 15 AP Bloomberg, [HONG KONG] The global credit turmoil has started to take its toll on the health of Asian corporate debt in the fourth quarter, according to Moody's Investors Service. "While the sub-prime-triggered credit turmoil that began in North America this summer has not
      AP; – Bloomberg,  -  344 words
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      535 14 Jh Sweef Trea-b 4- Yule-fide Feasfs af The Park! Hn M H #1 IS I &1 14 i* loved ones in serene surroundings and Mmjw wBStWv§3W9i&m y^^^JJ I indulge in our splendid restive offerings at ps>* jSQ I Tne Cafe and Legends Garden. Jk mßLjt&rm WSBflmWmi •HP Tickets on sale
      535 words
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      80 15 Frustrated by slow network or Internet access in your office? I ~~<^j Worried about the confidentiality and integrity of your data? Concerned about security when you transact over Internet? Faced with frequent virus or spam attacks even with the use of antivirus software? How can you prevent your staff from
      80 words
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  • AVIATION
    • Article
      Lock icon Nearly 20% cut in peak hour flights at JFK
      588 16 -LAT-WP Number of flights per hour at New York airport to be capped at about 82 [NEW YORK] In the most sweeping effort to date to ease congestion at New York's three major airports, US Transportation Secretary Mary Peters on Wednesday
      -LAT-WP  -  588 words
    • Article
      Lock icon EADS picks Europe bidders for 6 plants
      241 16 -AP [PARIS] Airbus's parent company EADS announced on Wednesday that it has chosen France's Latecoere, Germany's MT Aerospace and Britain's GKN as preferred bidders for six factories it is selling off in a major restructuring. The decision was a blow to Kansas-based Spirit
      -AP  -  241 words
    • Article, Illustration
      Lock icon NZX allows Auckland Airport's commission plan
      327 16 Bloomberg [WELLINGTON] Auckland International Airport Ltd's plan to pay commissions to brokers whose clients oppose a partial takeover from Canada Pension Plan Investment Board does not breach listing rules, New Zealand Exchange Ltd (NZX) has said. The country's busiest airfield may pay brokers as
      Bloomberg; AFP  -  327 words
    • Article, Illustration
      Lock icon India's Kingfisher and Deccan to merge
      601 16 -AFP Move will cut costs and create biggest domestic airline [BANGALORE] India's biggest discount carrier, Deccan, will merge with liquor baron Vijay Mallya's upmarket Kingfisher Airlines to create the nation's biggest domestic airline, officials said. The firm formed by the merger next year will
      -AFP; AFP  -  601 words
    • Article
      Lock icon Cash infusion may not save JetBlue
      175 16 Bloomberg [CHICAGO] Jetßlue Airways Corp's U*****.6 million infusion from Deutsche Lufthansa AG may not be enough to end a nosedive at the US discount carrier, which has lost more than half its market value this year. Net debt at Jetßlue surged fivefold since 2003
      – Bloomberg  -  175 words
    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      2391 16 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), Al: Air India (AIC), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), Bl: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      2,391 words
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  • SHIPPING
    • TRANSPORT STOCKS
      • Article
        Lock icon SGX
        113 17 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWT Ltd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KlVentures Keppel Corp Labroy Marine MTQ Corp NOL Pacific Shipping Pan-United Corp Rickmers Man Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship Star Cruises 0.80 0.39 5.55
        113 words
      • Article
        Lock icon KLSE
        37 17 '000 nt'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie.... NCB Holdings Nepline Bhd PDZ Holdings 1.17 10.10 9.70 4.42 2.93 0.23 0.18 unch 0.10 unch -0.02 unch -0.02 -0.01 16: 1171 2101 165' 1! 1! 10!
        37 words
      • Article
        Lock icon BANGKOK
        12 17 '00 ■recious Ship Jegional Cont 27.50 28.25 -0.50 -0.50 1351 142
        12 words
      • Article
        Lock icon HONGKONG
        11 17 '000 Soil iingamas Cont 56.30 ..3.22 0.15 0.10 78( 231i
        11 words
      • Article
        Lock icon PHILIPPINES
        21 17 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 6.80 44.00 2.20 unch unch unch unch unch 679( 60! 57;
        21 words
      • Article
        Lock icon TAIPEI
        21 17 lee Evergreen Marine ....25.85 :irst Steamship 58.00 /Van Hai Lines 25.60 fang Ming Marine ..21.85 -0.75 -2.90 -1.35 -0.95 li
        21 words
      • Article
        Lock icon TOKYO
        43 17 '000 )GC 'en Cawasaki Hvy Ind ..319.00 -3.00 ***** Cawasaki Kisen .110unch -9.00 5958 Mitsubishi Hvy 462.00 -lunch ***** vlitsui Eng&Sbldg ..416.00 -3.00 9491 vlitsui Osk Lines ...1436.00 2unch 9831 Mippon Express 587.00 14.00 4280 Mippon Yusen 877.00 -lunch 6268 iource: Reuters
        43 words
    • Article
      Lock icon Toll to buy HK firm Baltrans
      143 17 Reuters SYDNEY] Australian logisics firm Toll Holdings said t wants to buy Hong Kong Teight company Baltrans Holdings for about A 5365 nillion (*****.5 million) as oart of an expansion in \sia, propelling Baltrans' shares to a record high. Toll, the largest listed lir
      – Reuters  -  143 words
    • Article
      Lock icon Baltic Dry Index falls for 4th consecutive day in London
      406 17 Bloomberg It declined 160 points, or 1.6%, to 9,591 points on Wednesday [LONDON] The Baltic Dry Index, a measure of shipping costs for commodities such as coal and iron ore, fell for a fourth day in London. The index, which
      – Bloomberg  -  406 words
    • Article
      Lock icon Who owns a vessel when it is being built?
      743 17  -  SELVA KUMAR ADMIRALTY CASEBOOK A SHIPBUILDER in Canada arrested two vessels that it was building and which it owned at that time in order to secure a claim against the vessels' mortgagee, but the Federal Court of Canada threw out the
      743 words
    • Article
      Lock icon China logistics firm tipped to tap US$2b in IPO
      371 17 -Reuters [HONG KONG] China Post Logistics, the country's top logistics firm, plans to raise over US$2 billion in a Hong Kong and Shanghai stock market listing in 2008, sources said, amid mounting foreign competition in the booming sector. The company, run
      -Reuters  -  371 words
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      408 17 ASIAN FEEDER DISCUSSION GROUP (AFDG) CHENNAI FEEDER OPERATORS (CFO) NOTICE TO TRADE REVISION IN TRADE SURCHARGE The following feeder operators in the Singapore-Malaysia/Chennai sector have been monitoring the situation in Chennai. We regret to advise that despite all efforts, including the constant engagement with the relevant authorities in Chennai, the
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  • EDITORIAL & OPINION
    • Article
      Lock icon The science – and art – of measuring GDP
      507 18 The science and art of measuring GDP READERS may recall the global brouhaha two years ago over the news that the Chinese economy had apparently been understated by some US$29O billion or more than twice the size of the Singapore economy. The country's first nationwide economic census had unearthed entire
      507 words
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      Lock icon Pro-war sentiment in the US in full retreat
      1382 18  -  LEON HADAR Presidential candidates that aren't so trigger-happy get better shot at White House THE conventional wisdom (CW) de jour in Washington can be encapsulated in one of Bill Clinton's 1992 presidential campaign slogans: "It's the Economy, Stupid!" The former Arkansas governor
      AP  -  1,382 words
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      Lock icon Sub-prime may not be the only securities problem
      777 18  -  ROBERT SAMUELSON THE BOTTOM LINE THERE is a vast gap of perception between the real economy of production and jobs and the financial economy ol loans and investments. The real US economy, though weakening, is hardly in a state of collapse. In
      777 words
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      Lock icon The Great Game, Version 2.0
      1347 19  -  ANDREW E KRAMER -NYT Central Asia is again where it's being played as the West tries to stake a claim and Russia cocks a snook at it IN THE scrub brush desert south of this ancient Silk Road town of Bukhara in Uzbekistan, the natural
      -NYT; REUTERS  -  1,347 words
    • Article, Illustration
      Lock icon The great American Dream is also the great American Deal
      959 19  -  AMITY SHLAES By INHERE are two kinds of people in business: deal people and price people. For deal people, it is all about the relationship. They want to gain advantage in a current relationship, or position themselves for the next
      AFP  -  959 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      372 20 In local curr In S$ In USS %dy %yr dy yr dy yr Index Change Change Change Change Change Change Dec19 World Index Preliminary 1112.4 -0.2 1.1 -0.2 -0.4 -0.3 4.6 EAFE Prel liminan 1096.2 -0.3 -1.0 -0.4 0.1 -0.6 5.1 Euri Preliminary 1508.6 -0.2
      372 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      128 20 As at 9am Dec 19 of foreign currency: Currencies Bid Offer Aust dollar 1.2480 1.2630 Can dollar 1.4410 1.4590 Euro 2.0890 2.1130 NZ dollar 1.0920 1.1150 jterlin mnd 2.9200 2.9530 US dollar 1.4490 1.4660 Local dollars to 100 units of foreign currency: Currencies Bid Offer Chi
      128 words
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      Lock icon INTERBANK RATES
      160 20 Dec 19 Overnight 1/2 1-month 2 5/16 2-months 2 1/2 3-months 2 9/16 Overnight mode: 1/2 US$ Offer 1/4 2 3/16 2 3/8 2 7/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months SFr 4.40 5.10 5.10 5.10 4.90 4.70 4.60
      160 words
    • Article
      Lock icon STOCK INDEX FUTURES
      24 20 r i Dec 19 STI SIMSCI Dec 412 416.2 407.4 Taiwan Dec 306.4 316.8 315.8 Source: MF Global (S) Pte. Ltd
      24 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      21 20 Dec 19 Bid Offer 1-month 1.4562 1.4574 2-months 1.4532 1.4544 3-months 1.4507 1.452 6-months 1.4446 1.446 Source: OCBC
      21 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      152 20 Dec 19 Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2563 1.2579 0.8607 0.8612 Canadian dollar 1.4480 1.4499 0.9921 0.9927 Euro 2.0999 2.1017 1.4387 1.4389 NZ dollar 1.1026 1.1035 0.7554 0.7555 jterlim md 2.9376 2.9400 2.0126 2.0129 US dollar 1.4596 1.4606
      152 words
    • Article
      Lock icon SGX DERIVATIVES TRADING
      314 20 Dec 20 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar08 Jun08 Sep08 Dec08 95.680 96.135 96.370 96.480 0 0 0 0 ***** ***** 7388 2623 EUROYEN FUTURES Mar08 99.290 99.310B Jun08 99.295 99.300 Sep08 99.275 99.275 Dec08 99.230 99.230 Mar09 99.145 99.145 Jun09 Sep09 Dec09 99.270
      314 words
    • Article
      Lock icon SICOM FUTURES
      283 20 Dec 19 RUBBER Futures (Closing prices) RSS 1 (S cents/kg) Month High Low Close Sett Volume (tonnes) Open Interest Jan 08 Feb 08 Mar 08 Apr/Jun 08 Jul/Sep 08 Oct/Dec 08 372.00 377.00 380.25 386.00 388.50 390.25 RSS 3 (US cents/kg) Month Hig gh Low Sett Volume (tonnes)
      283 words
    • Article
      Lock icon CHICAGO BOT
      105 20 Dec 19 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 08 1159.00 1149.75 1160.50 1152.00 Mar 08 1177.75 1168.50 1179.00 1171.00 May 08 1192.75 1183.50 1193.50 1186.25 Jul 08 1198.00 1185.50 1199.00 1190.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jan 08 46.83 46.21 46.90
      105 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      74 20 CRUDE OIL PRODUCTS Dec 19 CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 91.16 0.37 WTI(NearMth) 91.14 0.99 Dubai (1-Mth F) 85.37 -1.32 Tapis blend 95.2 -0.55 Minas 93.55 -1 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 94.00 108.10 -0.65 -1.95 US$/barrel Opec Oil Basket Price
      74 words
    • Article
      Lock icon INTERBANK CROSS RATES
      469 20 Dec 19 AS CS Rmb Euro HKS Ind Rs Ru| Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound USS Australia 0.868 6.356 0.598 6.717 34.076 81.145 0.975 8.089 2.887 1.140 52.359 35.979 1.257 5.941 0.995 27.989 28.984 0.428 0.861 Canada 1.153 7.326
      469 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      90 20 Dec 19 Period Issue code Maturity Yesterday's Bid Hii Day's [hi Low 3-Month BQ*****V 20.03.08 1-Year BY*****A 29.09.08 1.90 1.93 1.88 1.88 1.88 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year N*****0Z 2.375 5-Year N*****1E 2.500 7-Year NX*****F 3.625 10-Year NY*****F 3.750
      90 words
    • Article
      Lock icon SIBOR
      78 20 Dec 19 (US$) (S$) 4.***** 2.***** 6 mths 2.***** 9 mths 2.***** 12 mths 2.***** 1 mth 2 mths 4.***** 2.***** 3 mths 4.***** 2.***** 6 mths 9 mths 12 mths 4.***** 4.***** 4.***** 2.***** 2.***** 2.***** SWAP Mid rates (S$) 1 yr 2.***** 2yrs 2.***** 3yrs 2.***** 4yrs
      78 words
    • Article
      Lock icon PALM OIL
      66 20 Dec 19 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Month Range Price Price Hii Vol Open Done Position Low Jan 08 2936 2946 2967 2936 632 5736 Feb 08 2944 2958 2978 2944 2352 ***** Mar 08 2950 2962 2982 2946 4042 ***** Apr 08 2947 2962
      66 words
    • Article
      Lock icon PRECIOUS METALS
      169 20 Dec 20 GOLD (USS/oz) Dec 20 Dec 19 GOLD BULLION COINS (SS) Sellin. Hong Kong 799.00 800.00 800.00 801.00 Dec 19 Dec 18 London 802.90 800.70 803.60 801.50 Source: Reuters (SS) Selling Buying 1 oz 1305.4 1172 UBS GOLD LUNAR KINEBAR (SS) Selling Buying 10gm $457.96 375 SILVER
      169 words
    • Article
      Lock icon LONDON METALS
      70 20 Dec 19 Aluminium, 99.7% purity (USS/tonne) Close Previous Cash 2380.20 2359.20 3 months 2430.00 2411.00 Copper, Grade A (USS/tonne) Cash 3 months 6462.00 6510.00 6323.80 6380.00 Lead (USS/tonne) Cash 2518.00 3 months 2526.00 2458.50 2450.00 Nickel (USS/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (USS/tonne) Cash 3
      70 words
    • Article
      Lock icon LIFFE
      80 20 Dec 19 (£/tonne) Close Prev Hii ih/Low Mar 08 1087 1079 1092/1077 May 08 1103 1095 1108/1093 Jul08 1127 1120 1132/1117 Sep08 1114 1109 1118/1109 COFFEE (USS/tonne) Close Pev High/Low Jan 08 1850 1875 1885/1834 Mar 08 1884 1904 1917/1867 May 08 1906 1922 1938/1890 Jul 08 1921 1937
      80 words
    • Article
      Lock icon BONDS & WARRANTS
      2107 20 BONDS WARRANTS Pel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Prem Expiry Disc Gear- Mths ing Left ArianeCorp Ltd W*****9 3 0.5 10 1 5 24 8798 Ascendas REIT SGA ECW*****3 11 1.5 303 1 248 3 9092 Asia Environment W*****4 41 -3 1 1 38
      2,107 words
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      2360 21 m The Business Times Shipping Times WWm iaM MM VMM V^&l. i J» H1& a&» A^SSu&^^K^ySJUK^H ufiMk^KC^^^ff^fl aims LSI S uj^^Uuw I t Jy> Destination Destination (cj^ojO^p^rd >■ B/^F'^lE^SNPiif-jE lir 8*! i^m[S^l^H Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia L^^Eiy't ■--*^3£'^"^Sii r 4fe. aa*^^^ MIDDLE-EAST SERVICE F.E./S.E.A SERVICE
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      4076 22 WAN HAI INTERNATIONAL PTE LTD <rn0 **********0/r I lit t?i a CTITDM C< Al> I IXTITIJ TTI I //SKt C<k T£i f^C/?■ %J ...mil ■■>■ TEL *****588 (14 LINES) FAX:*****163 I XT Ajj 1 Hf-MVIM I^AIV L/IIMIL.K.^ LIU f|i|| l£l iSz/vMS VtVIIWAN HAI INK C»»f™er Servke/Bo.kings Direct Une (1800) *****200
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      5559 23 FSH PI ||g ANULRSEN wt*^T^S2Z I GLORY NAVIGATION GROUpI ■l^^Jjß shipping company/ 70 Shenton Way, #21-03 Marina House Singapore *****8 f&&^\ i^L^^^fl NORTH WFST FXPRF^ I INF I SINa "70' iNV^ivin vycoi CArrcoo lime owns operates the youngest fleet pHH MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS liaTEX a« AfflvAl
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  • executive lifestyle
    • CHRISTMAS
      • Article, Illustration
        Lock icon CHRISTMAS STORIES
        2773 24 It's Christmas. Do you know what your CEO is doing? JAIME EE asks Singapore's top professionals to look through their photo albums and share their special Christmas memories with us, and what the festive season means to them Lionel Lim, president. South Asia, Sun Microsystems "This picture was
        2,773 words
    • CLIPPER ROUND THE WORLD RACE
      • Article, Illustration
        Lock icon It's more than just trying to win
        956 27  -  VINCENT WEE Crew ethos of Uniquely Singapore has always been to learn as much as they can, while having fun and trying to sail the boat as well as they can, reports THERE seems to be something about the number seven that holds
        ONEDITION  -  956 words
      • Article, Illustration
        Lock icon For the adventure – and for Asean
        521 27  - For the adventure and for Asean VINCENT WEE LIKE so many people before her, Indonesian Department of Foreign Affairs officer Erma Siswowaluyo took part in the Clipper race partly to satisfy a desire to travel and see the world. To an extent, she had first-mover advantage because she was working
        OMEDITION  -  521 words
    • ARTS/MUSIC
      • Article, Illustration
        Lock icon Bringing good design to the masses
        1153 28 Über-designer Karim Rashid talks to PARVATHI NAYAR about his interest in visual language and what draws him to a project HE IS one of today's hottest designers, almost a household name in the US with signature products that meld form and function with a
        ARTHUR LEE  -  1,153 words
      • Article, Illustration
        Lock icon Metheny gives fans a bonus
        564 28  -  CHRISTOPHER LIM CD REVIEW Secret Story Pat Metheny Nonesuch Rating: B+ RE-ISSUED CD albums are often suspect commodities; thinly veiled attempts to make consumers buy essentially the same item several times. Pat Metheny's re-issued Secret Story, however, rises above this so-called "double-dipping". In addition to
        564 words
      • Article, Illustration
        Lock icon Medical science takes centrestaqe in NUS Arts Fest
        426 28  -  MARDIANA ISMAIL EXPECT a collaboration of caustic germs and artistic germination to be in the air at the National University of Singapore next year. NUS has adopted its medical faculty for its 2008 Arts Festival season. And many of the performances and
        426 words
      • artBEAT
        • Article, Illustration
          Lock icon Greek perfection
          155 28 FOR the first time in South-east Asia, 130 priceless Classical Greek and Hellenistic artefacts from France's Musee dv Louvre will be on view at the National Museum of Singapore. The ancient Greek artefacts on show spanning a period from the sth to the Ist century BC include large
          155 words
        • Article
          Lock icon Nature and impermanence
          80 28 The photographs in Preserved Nature by Chris Yap result from quiet observations of nature. The images seek to capture the impermanence of our physical and emotional existence by exploring the different stages of life, growth and relationships. Preserved Nature, first shown at the Singapore Biennale 2006, is
          80 words
        • Article, Illustration
          Lock icon Animal magic
          80 28 Celebrate this Christmas season with many cats and one poodle in Catmasutra 4, that features animals drawn from the imagination of Paul Koh and Michelle Chang. In Koh's paintings, two cats, Halo and Angel, are used as motifs to mark the artist's gateway to a quirky world. Chang,
          80 words
        • Article
          Lock icon Inside Myanmar
          68 28 In Burma Inside, Insights, Manfred Rist the South-east Asia correspondent for Swiss daily Neve Zurcher Zeitung displays photographs compiled from his several visits to Myanmar since 2002. His reportage-style images feature all aspects of contemporary Myanmar from the landscape to people's lifestyles, the refugees in the border areas
          68 words
        • Article
          Lock icon Chopin and company
          62 28 Enjoy an evening of beautiful melodies performed in French, German and English by home-grown classical musicians, mezzo-soprano Rebecca Chellappah, cellist Lin Juan and pianist lim Van. They will perform pieces by Berlioz, Brahms and Chopin, and premiere a piece specially composed for them by British composer Sophie
          62 words
        • Article
          Lock icon Dance classic
          89 28  -  PARVATHI NAYAR ZAHABIA SALEEM Great choreography, elaborate sets, beautiful costumes inspired by the Golden Age of classical ballet and the music of Tchaikovsky come together in Singapore Dance Theatre's new production, Swan Lake. The story is a familiar one, and narrates the transforming power of love in the
          89 words
    • CINEMA/WINE
      • Article, Illustration
        Lock icon Ludicrous tale that uses history as a thin veil
        576 29  -  JAIME EE Vhat makes the film tolerable is the cast gamely tossing all semblance of credibility o the wind, says ANOTHER day, another national conspiracy. Mostly involving long dead American ancestors who are not exactly in a position to sit up
        576 words
      • Article, Illustration
        Lock icon Here be mindless monsters
        475 29  -  CHRISTOPHER LIM MANY novels scream movie potential. Take Richard Matheson's/ylm Legend, which may as well have been written as a screenplay, given that two big-screen adaptations precede the current one that hits cinemas on Christmas Day. This time around, Will Smith plays post-apocalyptic survivor Robert Neville,
        475 words
      • Article, Illustration
        Lock icon Sci-fi with a dose of New Age spirituality
        381 29  -  PARVATHI NAYAR DVD DKAY, so it's the holiday season md you're looking for good, wholesome PG entertainment for those stay-at-home family times. The last Mimzy certainly qualifies as family-friendly; however, it winds up feeling more like plain vanilla fare than the exotic
        381 words
      • Article
        Lock icon Fresh look at wines for the festive season
        1004 29  -  N KYONG CHOOSING wines for Christmas and New Year dinner parties is an enjoyable exercise. Whether it's a big light-hearted party or smaller one for family and close friends, the pleasure is in sharing the best with your guests. CHAMPAGNE At the
        1,004 words
  • Page 24 Miscellaneous
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      49 25 3 DJ 3 QJ r« n O When you land, we believe you should be in the same good condition Excellence in Flight as you were during take-off. That's why our delicate service with a smile remains constant throughout the KJART?AIV AYR rfs^ flight until you reach your destination.
      49 words
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      208 27 This series on Uniquely Singapore's adventures in the Clipper 07-08 Round the World Yacht Race is brought to you by ■^'''M| The Business Times Business Times journalist Vincent Wee, who did a circumnavigation on Uniquely Singapore Clipper in the 2005-2006 race and reported from onboard the boat in the first
      208 words
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  • Page 29 Miscellaneous
    • Miscellaneous
      Lock icon Page 29 Miscellaneous Column 1
      342 29 CRYPTIC CROSSWORD 7 Containing most recent H MM MM MM MM MM aTaTaTaTaTaTaTaTal news just having been I 9 You can't help but see it be- Pbß__Hbm__Bß__Hß__Hb.L_^M__Bb.L_^b.l ng aggressive and confron- p M" I tational (2-4-4) L— .-^J—J -Pn MM, MM the garden perhaps (4) U3 F^^^ aH^~~^^ 12 Say
      342 words
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      237 30 liliil iiii Sill "-''^^B^ -j:^" 'yP^B ■^v'1'1,1," I ™*»i k, s iT^^f f^t' i" f* Bk/ ■-■"I'-i-S. 'v»-i J J~ I "^-j' rf v". +i i" j_ Picture taken on 7*h floor of ICON PI y<HJTRAMRARK NEW BRIDGE RD Come on down to view ICON'S very own private resort with
      237 words