The Business Times, 7 February 2008
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2008-02-07
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The Business Times
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Title Section25 2008-02-07 1 THE BUSINESS TIMES Singapore 85 cents online at http://business-times.asial .com.sg a Singapore press holdings publication co regn no *****2868E mica (p) 122/12/2007 Thursday, February 7,200825 words
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Article, Illustration70 2008-02-07 1 JOHN HENG Time flies. After another year of bustle in the office and marketplace, this Chinatown scene of crimson and green is a picture that many Singaporeans will take with them into the Year of the Rat. The Business Times wishes its readers aJOHN HENG - 70 words
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514 2008-02-07 1 NYT, LAT-WP, Reuters, AP Democratic duel too close to call as front-runners carve up the country [WASHINGTON] Senators Hillary Rodham Clinton and Barack Obama carved up the country in the 22-state nominating contest on Tuesday, leaving the Democratic presidential nomination more elusive– NYT, LAT-WP, Reuters, AP - 514 words
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MARKETS DIGEST
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Article29 2008-02-07 1 Bloomberg SINGAPORE 5.33 MALAYSIA 6.74 HONG KONG 5.75 INDONESIA 15.510 TAIWAN 6.236 JAPAN 1.875 KOREA 9.33 BRITAIN 5.50 US 6.00 CANADA 5.75 SWITZERLAND 4.42 INDIA 12.75 Source:Bloomberg - 29 words
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Article42 2008-02-07 1 ICOMP 1,411.16 -21.19 IIKKEI 225 13,099.24 -646.26 IANG SENG 23,469.46 -1,339.24 ;et INDEX 790.49 -17.19 JAKARTA COM P 2,626.46 -77.78 IANILACOMP 3,228.84 -54.72 ;eoulcomp Closed ;henzhen B Closed IUMBAI IND 18,047.98 -615.18 Tuesday's close Change 12,265.13 -370.03 )OW IASDAQ 2,309.57 -73.2842 words
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Article41 2008-02-07 1 US$ (S$ ier US$) 1.419 (USS/SS per 1.965 2.788 EURO(US$/S$/E) 1.464 2.078 YEN 106.60 75.10 RM 3.230 2.276 HK$ 7.798 5.496 BAHT 32.90 23.19 RUPIAH 9,236 6,509 RENMINBI 7.190 5.067 INDIAN RUPEE 39.55 27.87 A$ 1.116 0.787 NZ$ 1.280 0.90241 words
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600 2008-02-07 1 R SIVANITHY - R SIVANITHY Sombre end to Year of Pig as fresh US recession fears engulf market [SINGAPORE] Investors in Asian stock markets yesterday said a nervous goodbye to the Year of the Pig by diving for cover in the face of renewed US600 words
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Page 1 Advertisements
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Page 1 Miscellaneous
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Miscellaneous50 2008-02-07 1 J J^ ECONOMY MARKETS BizlT CHINA pz 9 A™6l^llB in f°r worst Small cap stocks as Asia-Pac PC sales auw Chinese banks keep rising recession in 20 years? hedge against inflation up 21% in 2007 .i_i^l in new world order %h^JKa_W^^ PAGE 7 PAGE 3 PAGE 23 MmL- PAGE 1050 words
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TOP STORIES
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675 2008-02-07 2 MATTHEW PHAN - MATTHEW PHAN Independent adviser says the revised offer is reasonable but not compelling [SINGAPORE] Straits Trading Company (STC) shareholders who have a long-term view of its prospects may wish to reject the revised $6.50 per share cash offer from675 words
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249 2008-02-07 2 Reuters [SINGAPORE] Temasek Holdings and German shipping and tourism group TUI are in talks to merge their shipping operations, the Financial Times reported yesterday, citing unnamed sources. Temasek could put its 68 per cent stake in Neptune Orient Lines (NOL) into TUI unit Hapag-Lloyd and– Reuters - 249 words
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THREE-MINUTE DIGEST
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75 2008-02-07 2 A FALL in equity listings last year has pulled Singapore down two places in the Capital Access Index 2007, an annual ranking of countries published by economic think-tank Milken Institute. Singapore was fourth overall, helped by its strength in terms of macroeconomic75 words
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97 2008-02-07 2 SHARES of Oculus were halted yesterday after it announced on Tuesday that it planned to buy over rights and interests in assets from a maker of eye-care devices for A 526.2 million (5533.2 million). The contact lens manufacturer said it would97 words
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108 2008-02-07 2 THE chances of the United States avoiding a recession appear to be growing dimmer by the day, and any contraction in the economy will likely last longer and be more severe than other downturns in the past 20 years. Recent reports have108 words
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78 2008-02-07 2 MALAYSIA'S industrial production unexpectedly grew at the fastest pace in a year in December as manufacturers raised output to supply goods for Christmas and New Year holidays. Overall production at factories, utilities and mines rose 5.7 per cent from a78 words
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88 2008-02-07 2 THERE'S a new world order for banks, and the Chinese, for the first time, are the biggest, with a market capitalisation that has made perennial No 1 Citigroup a distant also-ran behind Industrial Commercial Bank of China Ltd, China Construction Bank Corp88 words
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62 2008-02-07 2 HUNGRY for oil and minerals, China and India have become Africa's new colonialists, exploiting the world's poorest continent in the same way as its old European masters, billionaire financier George Soros said on Tuesday. "They are in the process of repeating the mistakes62 words
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108 2008-02-07 2 PRELIMINARY findings from IT research agency IDC show that 66.6 million personal computers were sold in the Asia-Pacific excluding Japan last year, up a healthy 20.9 per cent from 2006. IDC's Reuben Tan noted that portable PCs, popularly known as notebooks,108 words
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Article, Illustration673 2008-02-07 2 LAT-WP Exit polls in 9 key states show blacks prefer Obama and Latinos favour Clinton [WASHINGTON] Tuesday's primary voting laid bare a profound racial and ethnic divide among Democratic voters, with African-Americans overwhelmingly preferring Senator Barack Obama, while Latinos largely favoured Senator HillaryLAT-WP; AFP, BLOOMBERG - 673 words
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Article31 2008-02-07 2 :AP Total needed for nomination 2,025 Hillary Clinton 760 Barack Obama 692 1 Total needed for nomination 1,191 John McCain 570 I Mitt Romney 251 Mike Huckabee 175 Source:,:AP - 31 words
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COMPANY NEWS
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504 2008-02-07 3 MATTHEW PHAN - MATTHEW PHAN It scores 7.88 points on Capital Access Index, down from 8 points in 2006 A fall in equity listings last year has pulled Singapore down two places in the Capital Access Index 2007, an annual ranking of countries published by504 words
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466 2008-02-07 3 CHOW PENN NEE - CHOW PENN NEE By SHARES of Oculus were halted yesterday after it announced on Tuesday that it planned to buy over rights and interests in assets from a maker of eye-care devices for A 526.2 million (5533.2 million). The contact lens manufacturer said466 words
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Article, Illustration500 2008-02-07 3 OH BOON PING - OH BOON PING Small-cap stocks seen as a hedge against higher inflation in '08 CREDIT Suisse says investors could look to small-cap stocks as a hedge against higher inflation this year, and it named Hyflux Ltd and China Hongxing Sports itsFILE PHOTOS - 500 words
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249 2008-02-07 3 KALPANA RASHIWALA - KALPANA RASHIWALA By SINGAPORE Post is understood to have appointed property firm CB Richard Ellis to advise it on exploring options for the listed group's headquarters building next to Paya Lebar MRT Station. CBRE's appointment followed a beauty parade that Sing Post249 words
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298 2008-02-07 3 CHINA Enersave yesterday said it has called off the proposed sale of its 46.6 per cent stake in Amanda Industries to Creative Master Bermuda Ltd (CMBL) through a reverse takeover after conditions for completing the deal have not been fulfilled. Under the earlier agreement in298 words
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221 2008-02-07 3 Bloomberg [MUMBAI] Indiabulls Real Estate Ltd may raise about US$l.2 billion in an initial public offering (IPO) of a trust in Singapore, according to two people familiar with the sale, who asked not to be identified before a formal announcement.– Bloomberg - 221 words
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Article, Illustration551 2008-02-07 5 Another warns of clashing elements turning April into dangerous month CHINESE astrologer Tony Tan, a former broker at DBS Securities, made money for his clients in 2007 by telling them Asian equity markets would turn in "peak performances" in the Year of thez*-l AFP - 551 words
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COMPANY BRIEFS
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Article97 2008-02-07 5 LIFEBRANDZ announced that it was served a writ of summons issued in the High Court of Singapore on Feb 4 by Nimbus Holdings and Ministry of Sound International. The writ of summons alleges infringement of the first plaintiffs registered trademark and seeks an injunction to restrain97 words
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Article72 2008-02-07 5 PLASTOFORM Holdings has issued a profit warning for its fiscal year ended Dec 31. The warning said the company will report a loss as there has been a drop in turnover arising from a number of factors, including an "under-estimation of complexity and timeliness of development"72 words
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Article7912 2008-02-07 5 UNIT TRUSTS FUNDS ABN AMRO Asset Mgt (Spore) Star Europe Eqty!** 0.925/ Star Europe Bond 1.206/ Star Europe Bal 1.185/ Star Asian Tiger Eqty 1.482/ Star Asia Bond 1.234/ Star Asia Balanced 1.013/ Star Global Technology Fund!** 0.196/ Multi St Fd 0.907/ Star Asia Bond(USD) 0.872/ Gib Multi St USD7,912 words
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Page 3 Advertisements
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SINGAPORE MARKETS
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Article, Illustration565 2008-02-07 4 R SIVANITHY - R SIVANITHY STOCKS irtually all STI components were hit, led by SingTel's 19-cent fall to $3.71. Banks followed close behind, with losses in DBS, UOB and OCBC THE local stock market ushered in the Year of the Rat on a decidedly downbeat note yesterday,: Bloomberg - 565 words
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Article85 2008-02-07 4 Up Down Unch Up Down Unch Up Down Unch lulti Ind 5 9 3 0 0 0 lanufacturing 30 73 52 37 82 Commerce 32 21 11 35 "pt/Stor/Comms 21 21 :inance 21 21 Construction 12 16 'ro| lerties 27 27 lotels/Rsts Cervices 15 33 12 1185 words
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Article116 2008-02-07 4 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 19,508 19,508 106,483 106,483 lanufacturing 194,955 21,272 216,227 211,628 3,071 214,699 Commerce 45,553 1,165 46,718 48,365 169 48,534 'pt/Stor/Comms 94,060 218 94,278 303,447 73 303,521 :inance 39,652 39,652 422,466 422,466 Construction 34,674 6,214 40,888 11,449 472 11,921 ■roperties 54,497116 words
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Article103 2008-02-07 4 lapitaLand 5.680 -0.260 :apitaMall 2.960 -0.050 jtyDev 11.460 -0.440 losco Corp 4.290 -0.220 IBS Grp 17.020 -0.580 :&N 4.870 -0.140 Sent Intl 0.605 -0.010 IK Land 4.270 -0.120 ISH 14.300 -0.300 lardine C&C 18.800 -0.520 leppel Corp 10.160 -0.440 leppel Land 5.830 -0.310 IOL 3.100 loble103 words
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Article, Illustration880 2008-02-07 4 Singapore Airlines Feb 6 close: 515.46 CIMB-GK RESEARCH, Feb 6 SINGAPORE Airlines (SIA) is one of the world's largest carriers in terms of passenger traffic and market capitalisation. Its success is built on consistently excellent service and Singapore's position as an air hub. SIA derives more than 90Bloomberg - 880 words
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Article, Illustration561 2008-02-07 4 LARRY WEE - LARRY WEE CURRENCIES SHARP falls of 3 per cent for key WaU Street indices on Tuesday night cast thick black clouds over currency and stock markets in Asia yesterday, on the eve of an extended Chinese New Year break which lasts till early: Reuters - 561 words
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Article51 2008-02-07 4 Feb 6 VALUE CLOSE 92.00-451.00 BT OB/OS BT CADI -*****.00-178.00 BT 10-day MA -*****.00 +9.00 FTSE ST Mid Cap 765.84 -18.41 FTSE ST Small Cap 673.82 -7.49 FTSE ST All Share 760.22 -23.23 FTSE ST China 541.17 -12.30 SIMSCI 360.41 -13.83 SIMSCI Futures 358.60 -15.50 PrimePartnersCI 179.3451 words
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Article57 2008-02-07 4 VOLUME Sing Tel 37,471,000 China Honqxinq 19,993,000 AsiaPharm 15,965,000 Wee Hur 15,710,000 Yanqzijianq 15,362,000 Sunmoon 14,555,000 Jade Tech 14,478,000 E3 Hlds 14,192,000 STXPOKWIOO 13,530,000 NOL 13,076,000 VALUE(S) DBS Grp 188,851,540 Sing Tel 139,807,734 UOB 94,673,630 Keppel Corp 72,975,552 Capita Land 70,926,929 OCBC Bk 67,795,540 SGX 62,810,090 CityDev57 words
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Article103 2008-02-07 4 CLOSE UP Deloni 230 31.0 15.6 CerebosPac 418 18.0 4.5 STI 3350 DBePW*****2 99.5 17.5 21.3 STI3150DBePW*****3 52.5 14.0 36.4 STI 3300SGAePW*****8 74 13.5 22.3 STI 3300BNPePW*****8 48.5 13.0 36.6 HSI*****SGAePW*****8 52.5 12.0 29.6 lux 309 10.0 3.3 StraitsAsia 365 10.0 2.8 >in< lTelMBLePW*****8 59.5 9.5 19.0 BY PERCENTAGE103 words
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Article109 2008-02-07 4 China H 10US$ CLOSE DOWN 1672-181.6 -7.1 DBS MBLiCW*****0 478 -86.0 -15.2 ISMSCI India 100 850 -79.4 -6.2 JMH 2546 -79.4 -2.2 UOBMBLJCW*****0 530 -71.0 -11.8 SGXMBLiCW*****0 379 -70.0 -15.6 SGX 926 -60.0 -6.1 DBS Gri 1702 -58.0 -3.3 GLD 10US$ 8880 -56.7 -0.4 UOB 1758 -54.0 -3.0 BY109 words
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Article84 2008-02-07 4 Feb 6 CLOSE CHNG FR Feb 5 YR 2008/07 S$ LOW S$ HIGH USS 1.4180 -0.11 1.5479 1.4130 Euro 2.0774 0.08 2.1639 1.9913 Pounds 2.7868 0.10 3.1194 2.7855 AS 1.2700 0.86 1.3555 1.1741 Yen* 1.3333 -1.27 1.3821 1.2285 Rupiah* 0.***** 0.22 0.***** 0.***** Baht* 4.3100 -0.1184 words
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Page 5 Advertisements
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Advertisement8 2008-02-07 5 I fyt \h vtak-t stuff IWWW.ST7OI.COM I I8 words
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SINGAPORE NEWS
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Article, Illustration672 2008-02-07 6 Bloomberg Inflation is no deterrent to fans of the traditional Chinese delicacy [SINGAPORE] Eddie Yap's mother gave her son an ultimatum as he left on his day off to join the long queue for bak kwa, or– Bloomberg; DESMOND WEE/THE STRAITS TIMES - 672 words
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412 2008-02-07 6 TAN SEO YEAN - TAN SEO YEAN By INTERNATIONAL visitors to this month's Singapore Airshow are to be identified and counted by the latest radio frequency identification (RFID) technology, rather than by the use of messy barcodes and scanners. A*Star's Exploit Technologies and Singapore Airshow Events412 words
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Article, Illustration318 2008-02-07 6 ARTHUR LEE - ARTHUR LEE By SOME little piggies went to market. And some little piggies stayed home. But the best little piggies this year went to NTUC Fair Price, where they have been merrily trotting out the door at a mere $59. In lineARTHUR LEI - 318 words
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Page 6 Advertisements
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Advertisement5 2008-02-07 6 <-p > jobs cars property shops5 words
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ECONOMY WATCH
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Article, Illustration774 2008-02-07 7 -Reuters Recent job and other data show an economic downturn may last longer, too [WASHINGTON] The chances of the United States avoiding a recession appear to be growing dimmer by the day, and any contraction in the economy will likely last longer-Reuters; REUTERS - 774 words
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513 2008-02-07 7 -Bloomberg Economists expect data to show a rise of just 0.5% [NEW YORK] US worker efficiency probably grew in the fourth quarter at the slowest pace in more than a year, pushing up labour costs, economists said before a government report yesterday. Productivity,-Bloomberg - 513 words
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719 2008-02-07 7 Reuters [PARIS] The spectre of a US recession is exposing a rift between Washington and the euro zone and testing the limits of global economic policy coordination among the Group of Seven industrialised powers. As G7 finance ministers and central bank■ Reuters - 719 words
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374 2008-02-07 7 Reuters [TOKYO] A global forum of financial watchdogs will call for greater disclosure on securitised products when Group of Seven (G-7) finance officials meet this Saturday in Tokyo, Japan's Nikkei daily reported yesterday. The Financial Stability Forum (FSF), a group of central bankersReuters - 374 words
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402 2008-02-07 7 SIV market unlikely to recover given Basel -neuters New rules will make these funds less attractive for banks [LAS VEGAS] The troubled market for so-called structured investment vehicles (SIVs) is effectively dead and likely to stay that way given new international rules for matching banks' reserves to their risks, panellists-neuters - 402 words
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SAVING THE RAIN FORESTS
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Article, Illustration1169 2008-02-07 8 ■AP But the new UN anti-deforestation initiative faces challenges and 'could even fail', writes MICHAEL CASEY in Bali FOR decades, a flood of aid and an army of conservationists could not save Indonesia's rain forests from illegal loggers, land-hungry peasants and the spread of■AP; AP - 1,169 words
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Article, Illustration1046 2008-02-07 8 MICHAEL ASTOR - MICHAEL ASTOR -AP By [MANAUS, Brazil] Julio Tota stood atop a (60-metre) steel tower in the heart of the Amazon rain forest, watching "rivers of air" flowing over an unbroken green canopy that stretched as far as the eye could see. These billows of fog-AP; BLOOMBERG - 1,046 words
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MALAYSIA/INDONESIA
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Article, Illustration433 2008-02-07 9 Bloomberg But it's seen as one-off surge from ramped-up production to supply goods for Christmas, New Year [KUALA LUMPUR] Malaysia's industrial production unexpectedly grew at the fastest pace in a year in December as manufacturers raised output to supply goods– Bloomberg; BLOOMBERG - 433 words
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Article162 2008-02-07 9 -AFP Officials set March next year as target for completion of pact negotiations [KUALA LUMPUR] Malaysia and India have agreed to try to finalise a free-trade agreement (FTA) by March 2009, Indian officials said here yesterday after the first round of talks. The two-day negotia- tions-AFP - 162 words
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428 2008-02-07 9 Reuters [KUALA LUMPUR] Malaysia's second-largest lender CIMB said on Tuesday that it expects to arrange as much as US$4 billion in Islamic bonds in 2008, as the appetite for such issues remains high. The amount of Islamic bonds, or sukuk, to be– Reuters - 428 words
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237 2008-02-07 9 Reuters [KUALA LUMPUR] Three Islamic banks are teaming up with Malaysian utility Sarawak Energy to set up an Islamic energy fund to finance up to US$6 billion in projects in Sarawak, Malaysia's Business Times report ed, quoting one ofReuters - 237 words
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Article, Illustration318 2008-02-07 9 -AFP [JAKARTA] Indonesian scientists and officials said that they were baffled by the "mysterious" behaviour of the bird flu virus here, which has already claimed nine lives this year in the world's worst-hit nation. Indonesia has reported 126 cases of HSNI-AFP; AP - 318 words
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245 2008-02-07 9 -AFP [JAKARTA] ExxonMobil Corp is hopeful that it can still reach an agreement with Indonesia over its contract to manage a major gas field despite the government saying talks have stopped, a spokeswoman said here yesterday. The head of the government's-AFP - 245 words
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Article2290 2008-02-07 9 :eb6 RM ('000) \&M Realty 0.74 \bricBhd 0.27 \dvanee Synergy 0.19 \dventa Bhd 1.38 \e Multi Hldgs 0.28 \ffin Holdings 2.30 \hmad Zaki Resou 1.47 \ic Corp 0.69 \irasia Bhd 1.63 \kn Technology 0.62 \lliance Financi 2.92 \luminium Co 1.15 \malgamated Ind 0.48 \mmb Hldgs Bhd 3.78 \mtel2,290 words
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NEW CHINA ORDER
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Article, Illustration1811 2008-02-07 10 Bloomberg investors are betting on emerging market banks rather than US institutions, writes AARON KIRCHFELD THERE'S a new world order for banks, and the Chinese, for the first time, are the biggest, with a market capitalisation that has made perennial No 1Bloomberg; REUTERS, BLOOMBERG - 1,811 words
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821 2008-02-07 10 Reuters More aware of political realities, it's settling for minority stakes in M&As EMBOLDENED by recent success and backed by Beijing's deep pockets, an increasingly sophisticated China Inc is poised to make bigger overseas acquisitions in its quest to secure natural resources, technology and prestige. State-run– Reuters - 821 words
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GREATER CHINA/INDIA
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Article, Illustration526 2008-02-07 11 -Reuters They're exploiting the poorest continent just like the previous European masters did [DAKAR, Senegal] Hungry for oil and minerals, China and India have become Africa's new colonialists, exploiting the world's poorest continent in the same way as its old European masters, billionaire-Reuters; FILE PHOTO - 526 words
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Article, Illustration799 2008-02-07 11 -Reuters [HONG KONG] China's elev-enth-hour gatecrash of what could be the world's biggest mining deal has cast its state aluminium giant in the role of white knight to China's steel sector, which feared seeing its two main suppliers unite. But the-Reuters; AFP - 799 words
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493 2008-02-07 11 -Reuters Exports will increase by US$2.4 billion or 3.8%: US think tank [GENEVA] India's output would grow by only an additional one half of a per cent under a successful Doha round deal to open up world trade, according to-Reuters - 493 words
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440 2008-02-07 11 Reuters [MUMBAI] This is a good time to buy long-dated Indian debt funds as the country's central bank may start trimming rates as early as April to bolster sagging growth, a Sundaram BNP Paribas money manager said on– Reuters - 440 words
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593 2008-02-07 11 Bloomberg Snowstorms left at least 80 dead and 80b yuan in losses [SHANGHAI] China restored electricity to the southern city of Chenzhou and 87 per cent of counties in the country after the worst snowstorms in more than 50 yearsBloomberg - 593 words
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ASIA-PACIFIC/WORLD
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Article, Illustration898 2008-02-07 12 Bloomberg Poison dumplings scandal ends USssoom firms' food units merger [TOKYO] Japan Tobacco Inc and Nissin Food Products Co scrapped a US$5OO million merger of their frozen food units after the cigarette company was accused of selling poisoned Chi-na-made dumplings that sickened– Bloomberg; k I AFP - 898 words
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Article, Illustration460 2008-02-07 12 -NYT USs24m penalty, but they admit to no wrongdoing [NEW YORK] A former Dow Jones Co director and three associates will pay more than US$24 million to settle charges that the associates traded illegally on inside knowledge of News Corp's-NYT; BLOOMBERG - 460 words
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359 2008-02-07 12 NYT [WASHINGTON] Al-Qaeda is gaining in strength from its refuge in Pakistan and is steadily improving its ability to recruit, train and position operatives capable of carrying out attacks inside the United States, the director of national intelligence told a SenateNYT - 359 words
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362 2008-02-07 12 Bloomberg [CHICAGO] Wheat surged to a record in Chicago, leading other grains and oilseeds higher on shrinking US and Canadian supplies of high-protein varieties used for bread and pasta. Canada, the largest wheat exporter after the US, said on Tuesday that itsBloomberg - 362 words
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Article, Illustration454 2008-02-07 12 -AP [LOS ANGELES] The Walt Disney Co's quarterly profit fell 26 per cent from a year earlier, when it benefited from the sale of a magazine and entertainment channel, but the media conglomerate notched a 9 per cent jump in revenue powered by-AP; WALT DISNEY - 454 words
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WORLD
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Article, Illustration732 2008-02-07 13 AP Sweetened USsl47b offer comes after China's Chinalco buys 12% of Rio [LONDON] The battle over Rio Tinto intensified yesterday when BHP Billiton, the world's biggest mining company, increased its takeover offer to about US$l47 billion after a Chinese rival boughtAP; REUTERS - 732 words
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386 2008-02-07 13 Bloomberg [NEW YORK] Seven banks, including Goldman Sachs and Citigroup, are committed to providing the world's biggest-ever loan at US$7O billion after BHP Billiton made a formal takeover bid for rival Rio Tinto Group. BHP, the world's largest mining company, offered 3.4– Bloomberg - 386 words
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Article, Illustration642 2008-02-07 13 ■AFP SOCGEN SCANDAL He says he never had any personal ambition in the case [PARIS] The dealer blamed for a US$7 billion rogue trader loss at French bank Societe Generale said he had got "a bit carried away", but refused■AFP; AFP - 642 words
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325 2008-02-07 13 Reuters [PARIS] France's top central banker expressed amazement on Tuesday that the trader at the heart of a Societe Generale trading scandal evaded detection for so long and backed tougher fines on banks for lapses in controls. "The reality is that we can't explain■ Reuters - 325 words
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412 2008-02-07 13 BID FOR YAHOO [WASHINGTON] After sparring for two years over antitrust issues, Microsoft Corp and Google Inc are preparing for the main event: a lobbying showdown over the fate of Yahoo Inc. Google, which has bulked up its presence in the nation's capital, has412 words
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AVIATION
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Article, Illustration568 2008-02-07 14 Bloomberg Labour groups and regulators biggest hurdle to mergers, says carrier's CEO [NEW YORK] United Airlines, the world's secondlargest carrier, is in a "good position" to take part in consolidation that's necessary for the US industry's long-term health, chief executive officer Glenn Tilton– Bloomberg - 568 words
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414 2008-02-07 14 Reuters [WASHINGTON] India has agreed to buy six Lockheed Martin Corp C-130J military transport planes in a breakthrough deal with the United States worth about US$l billion, opening a door to closer strategic ties, US officials said on Tuesday. India and theReuters - 414 words
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236 2008-02-07 14 Bloomberg [LONDON] British Airways pic, Europe's third-largest airline, said passenger traffic declined 1.6 per cent in January after one of its Boeing Co 777 planes crash-landed at London Heathrow airport. The load factor, or proportion of seats filled, dropped by 0.7Bloomberg - 236 words
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193 2008-02-07 14 -AP [PARIS] A French judge on Tuesday ruled that budget airline Ryanair improperly used a picture of French President Nicolas Sarkozy and his new wife, ex-supermodel Carla Bruni, in an advertisement, and ordered the carrier to pay the newlyweds about USSBB,2OO in damages.-AP - 193 words
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Article2462 2008-02-07 14 AIRLINE CODES: AA: Amencao Airlioes (AAL), AF: Air Fraoce (AFR), oair Ov (FIN), AZ: Alitalia Airlioes (AZA), BA: British Araays Public Ltd Co(BAW), BG: Biman Bangladesh Airlines (BBC), B, ~u,a, u,u,, c j»,, Bhd (RBA), BO: Bouraq Airlines (BOU), BR: EVA Airways Corpn (EVA), CA r-rt"2,462 words
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Page 14 Advertisements
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Advertisement28 2008-02-07 14 HOT IPO I Attract more interest I from investors. Place I your IPO notice in our I newspapers. Call I 1800 289 8822 or email I notices@sph.com.sg. I28 words
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Page 14 Miscellaneous
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Miscellaneous334 2008-02-07 14 CRYPTIC CROSSWORD ACROSS 1 Long-distance runner going [2 |3 H4 [5 |6 [7 from Black Forest to Black ______________m —BM 4 One-armed brigand? (6) 8 Sword that cuts both ways 10 It's clear, rascal has broken cover (6) __^B! 1 Agent crosses eastern |Hj u^n^^^K kw |hj |h| (4) PM334 words
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AVIATION/SHIPPING
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Article, Illustration524 2008-02-07 15 -AP Poor performance reflects rising passenger demand and air congestion [WASHINGTON] US airline delays in 2007 were the sec-ond-worst on record, the Transportation Department said on Tuesday. Flights in the US were late more than 26 per cent of the time last year,-AP; REUTERS - 524 words
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170 2008-02-07 15 Bloomberg [NEW YORK] DP World Ltd, the port operator that raised U554.96 billion in November in the Middle East's biggest share sale, was rated "equal-weight" at Morgan Stanley because of concern that slowing global growth may reduce profit. "DP World is wellBloomberg - 170 words
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Article, Illustration325 2008-02-07 15 Bloomberg [LONDON] Alitalia SpA, the state-controlled airline Italy is trying to sell, is cutting flights at Milan's Malpensa airport because it's "economically impossible" to maintain two hubs. Alitalia will eliminate unprofitable routes, keeping just three of its current 17 intercontinental flights atBloomberg; _m_^_^ i AFP - 325 words
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539 2008-02-07 15 Bloomberg [FRANKFURT] Finnair Oyj, Finland's state-controlled airline, posted a fourthquarter profit after the carrier boosted passenger traffic to Asia and cut costs. The shares dropped as the company declined to provide an earnings outlook, citing uncertainty about the global economy.Bloomberg - 539 words
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Article, Illustration386 2008-02-07 15 [SINGAPORE] Asian aframax charter rates may decline, after rising the least in four days, as the Lunar New Year holidays will slow hiring of tankers. The rate to transport 80,000 tonnes on an aframax from Kuwait to Singapore increased 0.2 per cent to WorldscaleFILE PHOTO - 386 words
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Page 15 Advertisements
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Advertisement24 2008-02-07 15 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. S MATS NOTICES24 words
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EDITORIAL & OPINION
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510 2008-02-07 16 IT might have passed relatively unnoticed amidst all the trauma wrought on regional stocks by the US sub-prime crisis, but it is a fact that the Malaysian market has hardly lost ground over the past five weeks; it has vastly outperformed its510 words
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Article, Illustration1020 2008-02-07 16 HARISH MEHTA - HARISH MEHTA Scholars and lawyers believe biopiracy has thrived because of vagueness in US patent law UNTIL recently, only a small group of developing countries were engaged in fighting the battle against biopiracy. Now a large group of the Least Developed Countries (LDCs)sJ.-^W->« REUTERS - 1,020 words
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Article, Illustration781 2008-02-07 16 FRANK CHING - FRANK CHING THE BOTTOM LINE EVER since it won the right to host the 2008 Olympics seven years ago, China has been hoping that the summer Games would substantially raise its international prestige as hundreds of thousands of people including tens of thousands of781 words
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Article, Illustration862 2008-02-07 17 ANTHONY ROWLEY - ANTHONY ROWLEY Europe's successful politically-led integration model is showing Asia the way ahead if its leaders would only be willing WHILE Europe goes from strength to strength as a united continent with a strong economy and a currency to match, Asia continues toAP - 862 words
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Article, Illustration785 2008-02-07 17 DOMINIQUE TURPIN - DOMINIQUE TURPIN By IN A fast changing environment, leading and managing profitable growth is critical for the development of sustainable competitive advantage. Every day, top executives increasingly face pressure for short term results, slower growth in many developed markets, more international competition fromI REUTERS - 785 words
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668 2008-02-07 17 NGOZI OKONJO- IWEALA - NGOZI OKONJO-IWEALA Collective action against corruption requires the need to balance the burden of responsibilities THE high development cost of corruption is something almost everyone agrees on today. It takes a disproportionate toll on the poor, by undermining the delivery of public services, creates668 words
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SINGAPORE STOCKS
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Article8216 2008-02-07 18 Transaction date: Feb 6 ligh Low Code Company Sale ('OOP) High ■ow Buyer Seller C'vr P/E $mil 5716 1st Software 11 6.5 3148 STelecom 29 11 5834 A-Sonic 107 98 6389 ABF SG Bond ETF 30 13.5 1938 AEI Corp 26 7.5 1100 AEM 42 12.4 2101 APOil8,216 words
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Article71 2008-02-07 18 52-Wk Tel Hiqh Low Code Last Sale Vol COOO) Day ih Low Last Quote Buyer Seller Div GrYld Net MCa| C'vr P/E $mi Com \_\i 200 116 6065 Diamonds 6200 5000 6095 IS DJ US Tech 1000 1000 6097 IS MSCI Spore ***** ***** 6101 ISS&P500 ***** *****71 words
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Article1965 2008-02-07 18 Hii Low Code Comi Sale robb] Hii Low Bui Seller C'vr P/E Sm 30 11.5 1181 s AAGrp 41.5 18 5000 s ABR Hldgs 31 18.5 8538 s APStrategic 16.5 3 1501 s Advanced System 34 27 3518 s Afor 70.5 12 1524 s Alantac 22.5 8.5 78141,965 words
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Article206 2008-02-07 18 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer206 words
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Advertisement28 2008-02-07 18 Sole Distributor Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. g£ Sfej! 9 341 River Valley Road #01-01 Singapore *****2. Tel: 6238 6678 Fax: 6238 6676. I^^^^^^B Internet: Http://www.audemarspiguet.com28 words
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FINANCE & COMMODITIES
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369 2008-02-07 19 In local curr In S$ In USS %dy %yr dy yr dy yr Index Change Change Change Change Change Change Feb 5 World Index Preliminary 1026.7 -2.1 -9.3 -2.2 -10.2 -2.5 -8.' EAFE Preliminary 993.8 -2.5 -11.3 -3.0 -11.7 -3.3 -10.. Euro[ Preliminary 1352.0 -3.3369 words
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Article125 2008-02-07 19 As at 9am Feb 6 )f foreign currency: .urrencies Bid Offer lust dollar 1.2670 1.2820 Can dollar 1.4030 1.4190 iuro 2.0690 2.0930 IZ dollar 1.1030 1.1270 jterlin ind 2.7780 2.8090 JS dollar 1.4140 1.4300 .ocal dollars to 100 units if foreign currency: Currencies Bid Offer Chi125 words
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Article163 2008-02-07 19 Feb 6 *i Offer Bid Overnight 1-month 1 5/8 2-months 1 5/8 3-months 1 5/8 Overnight mode: 1 5/8 US$ Offer 1 1/2 1 1/2 1 1/2 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months SFr 3.25 3.28 3.25 3.23 3.10163 words
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Article21 2008-02-07 19 Feb 6 ten iTI ilMSCI Feb 361.1 361.9 358.6 "aiwan Feb closed Source: MF Global (S) Pte. Ltd21 words
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Article20 2008-02-07 19 Feb6 Bid Offer 1-month 1.4162 1.4174 2-months 1.4143 1.4155 3-months 1.4128 1.4141 6-months 1.4081 1.4096 Source: OCBC20 words
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Article156 2008-02-07 19 Feb 6 Against SS lurrencies Bid Offer Against USS Bid Offer >$/US$ to one unit of foreign currency: Australian dollar 1.2702 1.2718 0.8955 0.8960 Canadian dollar 1.4078 1.4094 0.9926 0.9930 iuro 2.0768 2.0789 1.4642 1.4646 IZ dollar 1.1081 1.1091 0.7812 0.7814 aterlim 2.7864 2.7891 1.9645 1.9651 IS156 words
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Article338 2008-02-07 19 Feb 5 OPEN HIGH LOW SETT VOL OP/INT URODOLLAR FUTURES Vlar08 Iun08 Sep08 3ec08 96.960 97.410 97.535 97.510 0 0 0 0 ***** ***** ***** 5939 EUROYEN FUTURES Vlar08 99.190 99.190 Iun08 99.340 99.340 Sep08 99.400 99.400 3ec08 99.375 99.380B Vlar09 99.280 99.285B Iun09 Sep09 3ec09 99.175338 words
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Article291 2008-02-07 19 Feb 5 RUBBER Futures (Closing prices) RSS 1 (S cents/kg) Month High Low Close Sett Volume (tonnes) Open Interest Mar 08 Apr 08 May 08 Jun 08 Jul/Sep 08 Oct/Dec 08 386.25 389.50 390.25 390.25 390.25 390.00 RSS 3 (US cents/kg) Month Hig gh Low Sett Volume (tonnes)291 words
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Article103 2008-02-07 19 Feb 5 SOYBEANS (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Mar 08 1323.00 1326.00 1328.00 1310.00 May 08 1342.00 1344.75 1346.00 1328.00 Jul 08 1355.00 1358.50 1359.50 1343.00 Aug 08 1347.00 1349.00 1348.00 1335.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low MarO8 55.40 55.76 55.75 55.10103 words
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Article77 2008-02-07 19 CRUDE OIL PRODUCTS Feb 5 CRUDE (FOB origin) USS/barrel Close Cham Brent blend (1-Mth F) 88.88 -1.5 WTI (Near Mth) 88.29 -1.68 Dubai (1 -Mth F) 85.32 0.61 Tapis blend 95.25 0.55 Minas 92.85 0.25 PRODUCT USS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 91.00 104.00 1.75 1.25 USS/barrel Opec77 words
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Article468 2008-02-07 19 Feb 6 AS CS Rmb Euro HKS Ind Rs Ru| Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound USS Australia 0.902 6.440 0.612 6.985 35.431 82.736 0.955 8.452 2.893 1.146 56.231 36.381 1.271 6.870 0.983 28.666 29.475 0.456 0.896 Canada 1.108 7.137468 words
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Article90 2008-02-07 19 Feb 6 TREASURY BILLS Period Issue code Maturity Yesterday's Bid Hii Day's [h Low 3-Month BQ*****H 08.05.08 1-Year BY*****A 29.09.08 1.45 1.49 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Hie Day's igh Low 2-Year N*****0F 2.625 5-Year N*****1E 2.500 7-Year NX*****F 3.625 10-Year NY*****F 3.75090 words
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Article78 2008-02-07 19 Feb 6 (US$) (S$) 3.***** 1.***** 1 mth 2 mths 3.***** 1.***** 3 mths 3.***** 1.***** 6 mths 3.***** 1.***** 9 mths 2.***** 1.***** 12 mths 2.***** 1.***** SWAP Offer rates (S$) 1 mth 1.***** 2 mths 1.***** 3 mths 1.***** 6 mths 1.***** 9 mths 1.***** 12 mths78 words
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Article62 2008-02-07 19 Feb 5 Delivery Month Opening Range Sett Av Price Price Hii Low Vol Open Done Position Feb 08 3350 3316 3400 3350 15 463 Mar 08 3401 3355 3445 3343 1684 ***** Apr 08 3411 3349 3458 3349 8839 ***** May 08 3410 3355 3455 3351 2701 916162 words
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Article139 2008-02-07 19 Feb 6 GOLD (USS/oz) Feb OS Feb 06 Hong Kong London 893.50 unav 894.50 unav Feb 04 Feb OS 895.95 890.10 896.65 890.80 Source: Reuters CAST BAR (S$) Feb 06 Buying Sellini Kilobar "43,729.83" ***** PAMP GOLD BARS (S$) Selling Buying Igm 5gm lOgm 20gm 50gm lOOgm 1139 words
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Article69 2008-02-07 19 FebS Aluminium, 99.7% purity (US$/tonne) Close Previoui Cash 2579.00 2620.00 3 months 2623.00 2665.00 Copper, Grade A (US$/tonne) Cash 3 months 7131.00 7130.00 7257.00 7260.00 Lead (US$/tonne) Cash 2777.00 3 months 2779.00 2804.50 2805.00 Nickel (US$/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (US$/tonne) Cash 3 months69 words
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Article77 2008-02-07 19 Feb 5 (£/tonne) Close Prev Hii ih/Low Mar 08 1210 1209 1212/1198 May 08 1237 1235 1239/1225 JulO8 1260 unch 1261/1250 SepO8 1246 1243 1246/1236 COFFEE (US$/tonne) Close Pev High/Low Mar 08 2157 2155 2165/2138 May 08 2184 2182 2190/2165 JulO8 2203 2200 2206/2188 SepO8 2201 2200 2208/2185 SUGAR77 words
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Article2109 2008-02-07 19 BONDS WARRANTS Tel Code Company Prem Expiry Last Vol Conv Exer Disc Gear- Mths Sale +or- ('000) Ratio Price ing Left 8798AscendasREITSGAECW*****3 1 -1.5 550 1 248 1 1851 AusGroup MER ECW*****8 3 -0.5 25 0.5 180 1 3657 Biosensors DB ECW*****3 22.5 -1 5 1 85 4 3704CapitamallTrSGAECW*****0 11.52,109 words
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Advertisement3085 2008-02-07 20 m The Business Times Shipping Times m ij^^l WwA _rti3__\SLi IES cTiiiU m\\ wan hai international pte ltd crno i**********/r m .A.^.^ >l.i!W!ll!Bl'iBBIS}>Bygi i^n 111%. -I TEU*****588 (14LINES) FAX:*****163 iPTlllr7^Ti« PWP'f'IPIIIBWPIMM HmmSß IjJUSgEgEjgE I \\\N 1 lAfflN HAI INpX Customer Service/Bookings Dir«t Line-(1800) *****200 WaMH^HHt^j^KKHSMK^^H B^OawmEunTlTJ I V »^A "iHII3,085 words
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Advertisement3306 2008-02-07 21 rMSTr __WMW*__\ XX SflP 111 0 G 'Cj, WEEKLY EXPRESS SAILING SCHEDULE lim. l^^i !L I VOY I PKL I SIN I KHI I DXB I BAB I DMM I BIK IKH Z\ ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS N ZZzZmW ZzZaZ teaflaatM jm|i] tenth ocean pc3,306 words
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Advertisement3030 2008-02-07 22 ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SlNDestjnName Name Number Number SIN Dest'n Name Name Number Number SIN Dest'n Name Name Number Number SIN Dest'n Name Name3,030 words
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BizIT
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Article, Illustration1140 2008-02-07 23 Spore saw weak retail demand in Q4 despite 22% rise in sales, writes AMIT ROY CHOUDHURY PRELIMINARY findings from IT research agency IDC show that 66.6 million personal computers were sold in the Asia-Pacific excluding Japan (APEJ) last year, up a1,140 words
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Article, Illustration551 2008-02-07 23 WINSTON CHAI - WINSTON CHAI Sales set to surpass those from physical formats like CDs ASIA is set to be at the vanguard of the digital music evolution in 2008, with more tunes expected to be sold via the Web and over cellular networks551 words
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386 2008-02-07 23 -AFP [SAN FRANCISCO] MySpace on Tuesday opened its popular social-network-ing platform to software developers, echoing a move credited with helping Facebook gain ground on its market-leading rival. MySpace premiered a Developer Platform Site created as a "sandbox" in which software wizards worldwide can craft-AFP - 386 words
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Article, Illustration330 2008-02-07 23 -Bloomberg [CUPERTINO, California] Apple Inc unveiled high-er-priced models of its iPhone mobile handset and iPod media player with double the memory of older versions, altering its lineup for the second time in six months to encourage shoppers to spend more. The iPhone will now be-Bloomberg; AFP - 330 words
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PROPERTY
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Article, Illustration743 2008-02-07 24 -Bloomberg 1.1% rise in average price of units costing £2.5 m or more; overall market unchanged [EDINBURGH] Luxury-home prices in London, the world's most expensive city for prime real estate, rose at the fastest rate in four months as the overall UK market stagnated, industry-Bloomberg; BLOOMBERG - 743 words
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498 2008-02-07 24 Bloomberg It also cites softer investment sales environment [NEW YORK] CB Richard Ellis Group Inc, the world's largest commercial real-es-tate broker by market value, said fourth-quarter profit fell 2.1 per cent on higher interest expenses. Net income declined to U*****.4 million fromBloomberg - 498 words
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176 2008-02-07 24 Reuters [LONDON] Almost £1.7 billion (554.74 billion) was withdrawn from UK property funds in the last three months of 2007, data from the Association of Real Estate Funds (AREF) showed yesterday. According to the survey of 64 funds with a combined value of £37– Reuters - 176 words
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Article, Illustration658 2008-02-07 24 Reuters Lenders holding off expansion plans as credit mess lingers [LONDON] The difference between a correction and a major slump in London's City office market could turn on a few key tenants such as Deutsche Bank and JP Morgan, Knight Frank LLP said– Reuters; BLOOMBERG - 658 words
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