The Business Times, 28 October 2008
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2008-10-28
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The Business Times
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Title Section19 2008-10-28 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 197/08/2008 Tuesday, October 28,200819 words
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Article, Illustration803 2008-10-28 1 AP, Reuters, AFP, NYT Seoul slashes interest rates as recession fears mount [LONDON] European stock markets fell heavily yesterday after the Nikkei index in Japan closed at its lowest in 26 years as the financial crisis raised recession fears and drove up– AP, Reuters, AFP, NYT; AFP- - 803 words
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Article, Illustration754 2008-10-28 1 OH BOON PING - OH BOON PING Tech and property shares among the most-battered By [SINGAPORE] The plunge in investors' risk appetites has led to a massive sell-down in stocks and driven a number of counters below their book values. And the worst-hit counters include those from: Bloomberg - 754 words
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Page 1 Miscellaneous
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Miscellaneous84 2008-10-28 1 j[9f SMEINC INDUSTRIAL OPINION BE INSPIRED I m Steps to success for SPACE The irrational Zap for daily inspiration. y^ small Web start-ups Making best use of exuberance of analysts Win a Nikon Digital page 10 limited space page 7 pageis Camera! page 11 I—^^^ G-7's warning fails to halt84 words
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TOP STORIES
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Article, Illustration776 2008-10-28 2 ANTHONY ROWLEY - ANTHONY ROWLEY Stocks hammered as rapid unwinding of yen carry trades bolsters currency By in Tokyo THE Group of Seven (G-7) finance ministers and central bank governors yesterday took the unusual step of singling out the yen in an emergency statement in whichAP - 776 words
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Article, Illustration662 2008-10-28 2 SIOW LI SEN - SIOW LI SEN Critical to see that intervention shows signs of working By [SINGAPORE] The financial markets turmoil is far from over and as the crisis moves into the real economy, banks will be hit by more losses, said Standard Chartered picBLOOMBERG - 662 words
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THREE-MINUTE DIGEST
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74 2008-10-28 2 THE Group of Seven finance ministers and central bank governors yesterday took the unusual step of singling out the yen in an emergency statement in which they warned about the dangers of wild swings in exchange rates. The move signals the possibility of74 words
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57 2008-10-28 2 THE economic crisis is making its presence felt on tourism, which is dependent on the corporate dollar and discretionary spending. For now, local hotels are posting relatively healthy occupancy. But as visitor arrivals continue to dwindle, next year could be challenging57 words
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53 2008-10-28 2 AS the economic wreckage piles dangerously higher, the US Federal Reserve is prepared to ratchet down interest rates perhaps to their lowest point in more than four years to relieve some of the pain felt by many Americans. GLOBAL FINANCIAL53 words
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99 2008-10-28 2 SOUTH Korea yesterday announced its biggest-ever interest rate cut and pushed budget plans for big tax cuts and spending increases to shield the economy from the global financial crisis. President Lee Myung Bak said the country will not face a repeat of99 words
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51 2008-10-28 2 CONTINUED financial turmoil coupled with liquidity pumping has led to strong performance by bond funds in recent weeks. The strong performance of these funds came as equities were hit repeatedly by growing alarm that a global recession will ravage corporate profits. COMPANY NEWS, PAGE51 words
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77 2008-10-28 2 HONG Kong posted modest export growth of 3.6 per cent in September despite weaker global demand, but is bracing for a severe downturn in trade as the financial crisis bites. The value of exports rose to HK5247.2 billion in September, with77 words
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99 2008-10-28 2 FIVE straight quarters of losses and a 70 per cent slide in its stock this year haven't stopped Merrill Lynch from allocating about US$ 6.7 billion to pay bonuses. Goldman Sachs Group and Morgan Stanley, both still on track for profitable years, have99 words
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248 2008-10-28 2 Reuters [LONDON] Standard Chartered may need to raise up to US$5 billion in capital to match bigger cushions held by rivals, analysts said. Concern that Stanchart needs to raise capital has contributed to a 39 per cent slump of its shares in the past six– Reuters - 248 words
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Article, Illustration836 2008-10-28 3 NISHA RAMCHANDANI - NISHA RAMCHANDANI Singapore's share of Asean's tourism pie could be shrinking By [SINGAPORE] Like a game of dominoes, the economic crisis is making its presence felt in most industries and tourism which is dependent on the corporate dollar and discretionary spendingFILE PHOTO - 836 words
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715 2008-10-28 3 LYNETTE KHOO - LYNETTE KHOO No safety in any region as the whole world is seeing slower growth By [SINGAPORE] Pain is seeping in as Singapore braces itself for a recession. And the big question is whether this pain will be reminiscent of715 words
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GLOBAL FINANCIAL CRISIS
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Article, Illustration82 2008-10-28 4 'Markets will be as happy as a young bride in April/ Astrologer Bejan Daruwalla Daruwalla 'It is difficult to say the exact amount of money, but it would be good if we could get four billion dollars more/ Iceland's Prime Minister Geir Haarde tells a Finnish daily 'In this kind82 words
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Article, Illustration863 2008-10-28 4 -AP Many expect the unemployment rate to hit 7.5% or higher by next year [WASHINGTON] As the economic wreckage piles dangerously higher, the Federal Reserve is preparing to ratchet down interest rates perhaps to their lowest point in more than-AP; REUTERS - 863 words
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793 2008-10-28 4 NYT [NEW YORK] Could the Dow reach 7,000? 700? Seven? Financial forecasters are in a race to call the bottom to the bear market. And just as on the way up, when analysts competed for attention with their forecasts of bigger and biggerNYT - 793 words
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399 2008-10-28 4 Reuters [SINGAPORE] Asian currencies slid against the US dollar yesterday as investors dumped assets amid heightened fears of a global downturn, forcing central banks in Indonesia and the Philippines to intervene. The high-yielding Indonesian rupiah bore the brunt of the selling, brieflyReuters - 399 words
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378 2008-10-28 4 ■Reuters [SEOUL] South Korea yesterday cut interest rates by a record 75 basis points and pledged more spending and tax cuts next year to try to keep the global financial storm at bay, but the measures failed to convince investors. Analysts said■Reuters - 378 words
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572 2008-10-28 4 Bloomberg [NEW YORK] US stock index futures are becoming less reliable as predictors of market moves. With equity investors around the world contending with the worst drop since the Great Depression, futures on the Standard Poor's 500 Index understatedBloomberg - 572 words
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COMPANY NEWS
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Article222 2008-10-28 5 3enc ded September 2008 I COMPANY DATE 1 UOI Oct28 2 3 CDL Hospitality Trusts CapitaRetail China Trust Oct29 Oct29 4 5 6 MacQuarie Prime Reit Cambridge Industrial Trust IndofoodAgri Oct29 Oct30 Oct30 7 Cosco Corp Oct30 8 Raffles Medical Group Oct30 9 UOB Oct31 10222 words
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Article, Illustration406 2008-10-28 5 OH BOON PING - OH BOON PING Top of the list is Cosco which will release its report card on Thursday By THE third quarter corporate results season continues this week with a number of high-profile companies expected to turn in their Q3 report cards. Top ofFILE PHOTOS - 406 words
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371 2008-10-28 5 Reuters [BANGKOK] Thailand's Total Access Communication PCL (TAC) reported a low-er-than-expected 35 per cent rise in third quarter net profit yesterday, held down by weak consumer confidence. Sagging consumer spending and flooding in many parts of Thailand in the July-September quarterReuters - 371 words
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Article, Illustration817 2008-10-28 6 OH BOON PING - OH BOON PING Investors still too fearful to venture back into riskier assets: analysts By THE continued financial turmoil coupled with liquidity pumping have led to strong performance among bond funds in recent weeks. Pimco Total Return Bond in US dollars took pole positionREUTERS - 817 words
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234 2008-10-28 6 Reuters Chartered open to investment by a strategic investor [TAIPEI] TSMC, the world's top contract chip maker, said yesterday it had no comment on market speculation that Singapore's Temasek Holdings had approached TSMC to sell its stake in Chartered Semiconductor. "We do notReuters - 234 words
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Advertisement66 2008-10-28 6 ______=__H 9^___£ S__fl E___E___9i I 'v_ i J t ".7." 2-\ .-2.3'- J M^MmrG J Vp ■«i:._ **%j_-''-r ~>w'jri__v v______L__t_* __r^___________ f"¥ -^__4^ ■v' '■■ejsS^WJ■' .>*-.:.■",."> _;^-.y ■■>^ T tS "'"'T^___rßTßh:' Pt^ ->*v'-■"''.'^'■'" J L ".-^tBSWv, _j________________^^^_____________________________________^^^ .r i £**l]A*U£j-~ **T" 7*" >'—" ,fr- 1 -MILT.. ♦fc2l-?_ S.^ 7^ "^^T"66 words
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INDUSTRIAL SPACE
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Article, Illustration1205 2008-10-28 7 JTC's latest innovation is the small-footprint high-plot ratio factory concept. EMILYN YAP reports AT just over 700 sq km, Singapore has always faced space constraints. But physical boundaries have not curtailed its development. On the contrary, they have fuelled creativity and innovation1,205 words
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SINGAPORE NEWS
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Article, Illustration640 2008-10-28 8 TEH SHI NING - TEH SHI NING At present, Two Men and a Truck has more than 200 franchise locations By MOVING and trucking has long been seen as a maledominated industry. And Two Men and a Truck has long been seen as an American brand. But640 words
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241 2008-10-28 8 A SINGAPORE-BRANDED pre-school that functioned as a temporary shelter during China's Sichuan earthquake was officially opened yesterday by the Minister in the Prime Minister's Office, Lim Swee Say. ELFA Preschool, at Chengdu Egret Island International Community, is operated by Singapore's Crestar Education Group, which entered241 words
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Article, Illustration447 2008-10-28 8 LEE U- WEN - LEE U-WEN By SENDING employees on Master of Business Administration courses used to be seen as a way to reward good performers at work. But Manchester Business School (MBS) Worldwide chief executive Nigel Banister says that these days, more companies want to sponsor447 words
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SME Inc
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Article, Illustration937 2008-10-28 9 Catering to busy professionals has proven to be a winning formula for Beyond Beauty TO invest in a matured industry is never easy, particularly in the beauty industry when there are so many established "big sisters" in the market tied up with international manufacturersJOSEPH NAIR - 937 words
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Article, Illustration606 2008-10-28 10 Jimmy Wales, Wikipedia founder, shares some tips on how to make an Internet business a success. MELISSA YEO finds out more HEN Jimmy Wales was struck by the idea of a Web-based encyclopedia built by volunteers, he thought he had stumbled on something606 words
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Article, Illustration850 2008-10-28 10 OH BOON PING - OH BOON PING Leaders in an SME need to manage the firm actively and set directions for it, INSEAD's Prof Turner tells IN any business, leadership is important, but the form which it takes depends interestingly on a firm's stage of growth. For small andFILE PHOTO - 850 words
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734 2008-10-28 11 IT MATTERS SMEs can now call on EBIS info-consultants to seek advice before entering a new market EXPANSION for small and medium enterprises often means venturing into new markets and courting new customers. In some cases, SMEs look beyond local shores to explore opportunities further734 words
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128 2008-10-28 11 LAUNCHED in August last year, Enterprise One Business Information Service (EBIS) aims to equip enterprises with information and knowledge to maintain a competitive edge in the global marketplace. The four partners involved are the Singapore Business Federation (SBF), Spring Singapore, the National Library Board (NLB)128 words
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Article, Illustration705 2008-10-28 12 UANTCHERN LOH - UANTCHERN LOH Companies need to pay more attention to day-to-day operational risks that can slowly erode their competitiveness By I THE chaos that has gripped world financial markets in recent weeks highlights the need for enterprise risk management. One of the lessons to be learnt fromNOEL A ROSALES/THE STRAITS TIMES |; Deloitte STouche Enterprise Risk Services - 705 words
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Article, Illustration403 2008-10-28 12 OH BOON PING - OH BOON PING SMEs can identify and connect to more than 200 specialists By A NEW Web portal is available to help small and medi-um-size companies obtain expert advice on overseas expansion. The advisory portal a joint initiative by Mercer and IE Singapore features human403 words
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Page 9 Miscellaneous
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Miscellaneous11 2008-10-28 9 SMALL WEB STARTUPS Tips from Wikipedia founder Jimmy Wales PAGE 1011 words
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Advertisement86 2008-10-28 10 OUT NOW! The November issue of Pulses is out! DISCOVER how Straits Asia Resources CEO Richard Ong got his pot of gold. LEARN tips for defensive investing and how to apply the risk arbitrage technique successfully. UNDERSTAND what is happening in the construction industry. Jk Get your Get your copy86 words
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Advertisement279 2008-10-28 11 Screen images are simulated. ©2008 Samsung Electronics Co. Ltd. V\\ ~~~~~^T~ _____ta imagine a vast, seamless perspective We believe a wider perspective doesn't need to be at the expense of aesthetics. Which is why Samsung has worked its renowned design innovation into the new large format monitors. Nothing gets in279 words
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ECONOMY WATCH
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Article, Illustration794 2008-10-28 13 -AP Fund will provide quick support to countries whose economies are being buffeted by financial crisis [WASHINGTON] Seeking to combat a spreading global financial crisis, the International Monetary Fund (IMF) said on Sunday it had reached a tentative agreement to provide Ukraine with-AP - 794 words
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Article, Illustration509 2008-10-28 13 Reuters [HONG KONG] The risks of inaction over climate change far outweigh the turmoil of the global financial crisis, a leading climate change expert said yesterday, while calling for new fiscal spending tailored to low carbon growth. "The risk consequences of ignoringReuters; REUTERS - 509 words
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340 2008-10-28 13 Bloomberg [COPENHAGEN] The global financial crisis may help Danish Prime Minister Anders Fogh Rasmussen steer the nation toward adopting the euro as European interest rates fall while Danes' borrowing costs soar. The central bank on Oct 24 raised the benchmark lending rate for aBloomberg - 340 words
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198 2008-10-28 13 Bloomberg [FRANKFURT] German business confidence fell to the lowest level in more than five years this month as the deepening financial crisis dimmed the outlook for economic growth. The Munich-based Ifo institute said its business climate index, based on a surveyBloomberg - 198 words
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547 2008-10-28 13 -NYT [SAN FRANCISCO] Silicon Valley has always been a land of big, bold dreams. In the first Internet boom, its startups either grew fast or died trying, sometimes spectacularly. The casualties of the bust, like Pets.com and Webvan, became legendary. In this downturn,-NYT - 547 words
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Advertisement229 2008-10-28 13 You get more out of trading FX with us. And not just because we're giving you USSISD. More tools. 24 hour access. AccuCharts trading. Spreads from 3 pips. Flexible contract sizes. And free* money too. New to us? Open an FX account with US$25O, trade three times in November and229 words
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GREATER CHINA/INDIA
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Article, Illustration530 2008-10-28 14 JANE MOIR - JANE MOIR Figures in Q3 down 1.3% from previous quarter, a reflection of falling demand By in Hong Kong HONG KONG posted modest export growth of 3.6 per cent in September despite weaker global demand, but is bracing for a severeAFP - 530 words
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Article, Illustration818 2008-10-28 14 -NYT The firm's founder originally wanted to be a pianist [NEW YORK] No one is ever going to call Cher Wang "poor little rich girl". The daughter of one of the richest men in the world, she never made headlines as a-NYT; REUTERS; BLOOMBERG - 818 words
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270 2008-10-28 14 Bloomberg [SHANGHAI] China's banks reduced their average bad-loan ratio to 5.49 per cent by the end of September as the industry enhanced risk controls, the nation's regulator said yesterday. Banks had a total of 1.27 trillion yuan (Ss27B billion) of non-performingBloomberg - 270 words
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653 2008-10-28 14 Bloomberg [NEW DELHI] Unitech Ltd managing director Sanjay Chandra blamed "criminal" speculators for the record 50 per cent one-day plunge in the stock as India's sec-ond-largest real estate developer hasn't defaulted on loans. Unitech is filing complaints with the Securities and Exchange Board– Bloomberg - 653 words
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270 2008-10-28 14 -AP [SHANGHAI] China's leaders have approved two trillion yuan (***** billion) in spending on railways construction, stepping up planned investments to help fend off an economic slowdown, the official Xinhua News Agency said yesterday. The early approval last week by the State Council, or-AP - 270 words
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MALAYSIA/INDONESIA
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Article, Illustration517 2008-10-28 15 neuters, Bloomberg Jakarta-listed company decides it won't pay mid-year dividend this year [JAKARTA] PT International Nickel Indonesia Tbk (Inco), one of the world's top nickel producers, said its nine-month net profit slumped 62 per cent to U*****.1 million due to aneuters, Bloomberg - 517 words
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401 2008-10-28 15 Bloomberg It will spin off its fixed-line unit in 2 years to facilitate takeover [JAKARTA] PT Indosat, Indonesia's secondlargest phone company, will separate its fixed-line operations to allow Qatar Telecom to own 65 per cent of the company, Communications Minister Muhammad Nuh said.– Bloomberg - 401 words
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Article, Illustration434 2008-10-28 15 -AFP [KUALA LUMPUR] The "knighting" of India's top Bollywood star Shah Rukh Khan will help boost tourism in Malaysia, an official from the Malacca government said yesterday. Khan is to be given the Governor of Malacca's award, which carries the-AFP; AFP - 434 words
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Advertisement380 2008-10-28 15 invest japan gth D o j ng Business in Japan Seminar: Japan Increasing FDI and M&A, New Business Opportunities 13 November 2008 (Thursday), 9.00 am 12.30pm Grand Hyatt Singapore, 3rd Floor, Ballroom II Admission: Ss2o, by registration on first-come-first served basis Foreign direct investment (FDI) into Japan is steadily increasing,380 words
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ASIA-PACIFIC/WORLD
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Article, Illustration629 2008-10-28 16 Reuters Tokyo planing steps to ease strain on banks exposed to domestic equities [TOKYO] Mitsubishi UFJ Financial Group, Japan's biggest bank, will raise up to US$lO.6 billion by issuing new shares, the latest sign that a free-falling stock market is likely to shred– Reuters; AP - 629 words
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Article, Illustration370 2008-10-28 16 -AP [BANGKOK] Hundreds of people demonstrated outside Thailand's stock exchange yesterday to protest against plans by the country's largest beer maker to list its shares on the market. They said that the move would encourage drinking. Thai Beverage pic, which brews Beer-AP; REUTERS - 370 words
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242 2008-10-28 16 Reuters [NEW YORK] Lloyd Blankfein, Goldman Sachs' chief executive, called Citigroup head Vikram Pandit last month about a possible merger, but Mr Pandit immediately rejected the proposal, the Financial Times reported on its website on Sunday. Mr Blankfein's call was made with– Reuters - 242 words
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Article, Illustration542 2008-10-28 16 Bloomberg [SYDNEY] James Packer quit the board of PBL Media Ltd after the billionaire's company refused to provide more funding to the venture that bought control of his media assets for A 54.5 billion (554.2 billion) two years ago. Mr Packer's Consolidated Media HoldingsBloomberg - 542 words
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559 2008-10-28 16 Reuters [KUWAIT] Kuwait's troubled Gulf Bank sought to assure customers that it was operating normally despite hasty withdrawals yesterday, but investors urged the government to resign over its handling of the global crisis. Figures released yesterday showed that July inflation remained above 11Reuters - 559 words
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451 2008-10-28 16 AL LABITA - AL LABITA Break is first in 81 years, comes after big Q3 loss for bank BY. in Manila A HUGE third-quarter loss reported by the Philippines' second-largest lender fuelled the local stock market's biggest single-day loss since 2007 and sparked a 15-minute trading451 words
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WORLD
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446 2008-10-28 17 ■AP [ALBANY, New York] Bankers and brokers looking to escape the financial meltdown are scrambling to relocate their families, possessions and rarified talent far from Wall Street to places such as Florida, Chicago, Milwaukee and Virginia in the United States, and■AP - 446 words
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901 2008-10-28 17 Bloomberg Even some Lehman staff will get the same bonus they received last year [NEW YORK] Five straight quarters of losses and a 70 per cent slide in its stock this year haven't stopped Merrill Lynch from allocating about US$6.7 billion to pay bonuses.Bloomberg - 901 words
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Article, Illustration766 2008-10-28 17 -AP [LORTON, Virginia] For a long time, says Loc Pfeiffer, his fellow Asian-Americans were passive participants in American politics. But things are changing. "Asians don't like confrontation or being adversarial, but that's politics," says Mr Pfeiffer, a 41-year-old lawyer who was six when his-AP; AP - 766 words
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472 2008-10-28 17 Reuters [FRANKFURT] Porsche SE plans to gain control of over 75 per cent of Volkswagen in order to pass a domination and profit transfer agreement that would grant it full control of VW's cash flows, Porsche said on Sunday. At the end– Reuters - 472 words
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579 2008-10-28 17 Bloomberg Firm bought USs23b of securities after USs46b redemptions [NEW YORK] Morgan Stanley clients withdrew almost one-third of their cash from money-market accounts last month, forcing the firm to buy US$23 billion of securities held by the funds to keep them– Bloomberg - 579 words
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EDITORIAL & OPINION
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491 2008-10-28 18 CHINA can be excused if it is feeling a little encircled as a result of events during the past week. Japanese Prime Minister Taro Aso and his Indian counterpart Manmohan Singh signed a Joint Declaration on Security Cooperation between their two countries in Tokyo491 words
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Article, Illustration1274 2008-10-28 18 MAX YUEN TEEN - MAX YUEN TEEN There appears to be a lack of corporate governance awareness among many of them By ON OCT 20, Citic Pacific announced an estimated loss of US$l.9 billion as a result of wrong foreign currency bets that were allegedly made by finance executivesAP - 1,274 words
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Article, Illustration734 2008-10-28 18 PAUL SAMUELSON - PAUL SAMUELSON Tribune Media Services THE BOTTOM LINE WHAT has caused Wall Street capitalism's suicide? At the bottom of this worst financial mess in a century is this: Milton Friedman-Friedrich Hayek libertarian lais-sez-faire capitalism, permitted to run wild without regulation. This isTribune Media Services - 734 words
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Article, Illustration1309 2008-10-28 19 RAZEEN SALLY - RAZEEN SALLY Regional trade strategy must take root in domestic reforms instead of being a foreign-policy plaything in remote international institutions By THE World Trade Organisation's Doha Round has collapsed, perhaps terminally. This predictable failure reflects a much deeper malaise. Policies governingAFP - 1,309 words
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Article, Illustration834 2008-10-28 19 PAUL KRUGMAN - PAUL KRUGMAN ECONOMIC data rarely inspires poetic thoughts. But as I was contemplating the latest set of numbers, I realised that I had William Butler Yeats running through my head: "Turning and turning in the widening gyre/The falcon cannot hear the falconer;/Things fallAP - 834 words
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FOCUS: INDIA
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Article, Illustration1342 2008-10-28 20 NEETA LAL examines what has gone so badly wrong for India's beleaguered airlines [NEW DELHI] INDIA'S beleaguered airline sector grappling with a liquidity crunch, fierce competition and whittling passenger traffic is seeking a US$l bil-lion-bailout from the government. In a presentation made to Prime Minister ManmohanAFP - 1,342 words
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Article, Illustration1125 2008-10-28 20 ANAND GIRIDHARADAS - ANAND GIRIDHARADAS -IHT By [MUMBAI] Not long ago, officials in this seaside megalopolis announced plans to retire taxis built before 1983. This was no radical idea: So withered are Mumbai's taxis that they must often shut the radio when they need the horsepower to-IHT; REUTERS - 1,125 words
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AVIATION
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Article, Illustration453 2008-10-28 21 Bloomberg No decision made at summit; lata asked to set up second meeting in early '09 [TOULOUSE] The US, India, the European Union and a dozen other countries are exploring ways to liberalise the aviation industry after a weekend summit meeting in Istanbul organised by– Bloomberg; BLOOMBERG - 453 words
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Article2507 2008-10-28 21 AIRLINE CODES: AA: American Air nes (AAL), AF Air France R), Al: Air India (AIC), AY: Finnair Oy (FIN), AT. Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Bir Banalade:h inline: 'BB Bl: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU),2,507 words
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313 2008-10-28 21 -AFP [KUALA LUMPUR] Malaysia-based Air Asia, the largest budget airline in Asia, will begin flights to India from Dec 1, its chief executive officer Tony Fernandes said yesterday. He said it will begin flying into the southern city of Thiruchi before spreading to-AFP - 313 words
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497 2008-10-28 21 Bloomberg [MUMBAI] Jet Airways (India) Ltd, the nation's largest domestic carrier, posted its biggest quarterly loss in more than three years after jet fuel expenses surged. The loss of 3.85 billion rupees (*****.7 million) for the three months ended Sept– Bloomberg - 497 words
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Page 21 Advertisements
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Advertisement145 2008-10-28 21 BT/ZUJI Deals of the Week I !t*nn»ammh,nhmf, tuMS H l :rM ~''ii____>-i -TrTF Sifclfis !i^n*lS_L_ BUSINESS CLASS (from ECONOMY CLASS (from HOTEL (from Delhi $2,000 $525 $20 Jet Airways Jet Airways DESTINATION BUSINESS CLASS (from ECONOMY CLASS (from HOTEL (from WEATHER Bangkok $525 (Swiss International) I $150 (Swiss International) $41145 words
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Page 21 Miscellaneous
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Miscellaneous285 2008-10-28 21 CRYPTIC CROSSWORD ACROSS 1 Time after parties when a vtt-ri HH^ HI H^ HH wicked setter? (7) 25 That angel outside has eat- 5 Water in East hot other 22 Hit cads to a duck? JoNy en that fruit (7) wise? It might give you that good! (6) 26 Looking285 words
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SHIPPING
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Article, Illustration528 2008-10-28 22 Bloomberg Move triggered by falling shipping rates; Nippon Yusen maintains outlook [TOKYO] Mitsui OSK Lines Ltd, operator of Japan's largest fleet of iron-ore ships and Kawasaki Kisen Kaisha Ltd, Japan's thirdlargest shipping line, cut their fiscal full-year profit forecasts as shipping rates drop. MitsuiBloomberg; BLOOMBERG - 528 words
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291 2008-10-28 22 Bloomberg [LONDON] Taiwan Maritime Transport Co Ltd, a Taiwanese shipping trader, said market speculation about its financial strength is false and "malicious". The company "is not currently facing any financial difficulties" and "trading remains strong throughout the group", a Lon-don-based official fromBloomberg - 291 words
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Article, Illustration630 2008-10-28 22 Bloomberg [LONDON] The Baltic Dry Index, a measure of shipping costs for commodities, fell for a fifth week in London, the longest losing streak since January, on slumping demand for deliveries of iron ore, coal and steel. Posco, Asia's biggest stainless– Bloomberg; ■: Bloomberg - 630 words
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TRANSPORT STOCKS
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Article101 2008-10-28 22 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KWentures Keppel Corp MTQCorp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship 0.23 0.25 0.67 0.32 0.40 0.50 0.04 0.83 0.51101 words
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Article37 2008-10-28 22 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings Nepline Bhd PDZ Holdings 0.58 8.15 8.10 2.36 2.33 0.06 0.08 -0.01 -0.05 0.05 -0.13 -0.16 -0.02 -0.01 15( 76! 3191 124' 21 131 27137 words
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Article12 2008-10-28 22 ■oo 'recious Ship Regional Cont .8.15 .6.20 -1.45 -1.10 1621 59812 words
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Article21 2008-10-28 22 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 5.20 12.50 unch 0.85 -0.20 -1.25 unch -0.15 142) 28: 2(21 words
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Article23 2008-10-28 22 Evergreen Marine ...13.90 :irst Steamship 24.15 /Van Hai Lines 11.60 t'ang Ming Marine ....7.11 0.10 -1.80 -0.85 -0.51 7 1 2 1623 words
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Article40 2008-10-28 22 '000 (awasaki Hvylnd... 120.00 -21.00 ***** (awasaki Kisen 322.00 -24.00 ***** Mitsubishi Hvy 293.00 -21.00 ***** Mitsui Eng&Sbldg ..112.00 -17.00 ***** Mitsui Osk Lines ....379.00 -28.00 ***** Mippon Express 344.00 -19.00 5524 MipponYusen 372.00 -10.00 ***** source: Thomson Reuters40 words
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961 2008-10-28 22 -AP US Navy encouraging merchant fleets to hire their own firepower [NAIROBI, Kenya] Blackwater Worldwide and other private security firms some with a reputation for being quick on the trigger in Iraq are joining the battle against pirates plaguing one of the world's-AP - 961 words
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Page 22 Advertisements
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Advertisement30 2008-10-28 22 Lianhe Zaobao Preference shares of 2 local i banks l 10% valuel m \M Find the most comprehensive range of products and services in CATS Classified in The Straits Times.30 words
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FINANCE & COMMODITIES
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366 2008-10-28 23 In local curr In S$ In US$ dy yr dy yr dy yr Index Change Change Change Change Change Change Oct24 World Index Preliminan 655.0 -3.8 -42.1 -3.9 -42.4 -3.9 -44.! EAFE Preliminai 615.5 -5.5 -45.1 -5.7 -47.3 -5.6 -49.1 Euroi Preliminan 858.2 -4.9 -44.4366 words
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Article130 2008-10-28 23 As at 9am Oct27 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 0.9270 0.9800 .an dollar 1.1760 1.1900 Euro 1.8850 1.9060 NZ dollar 0.8340 0.8530 iterlini ind 2.3720 2.3990 US dollar 1.4970 1.5140 Local dollars to 100 units of foreign currency:130 words
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Article175 2008-10-28 23 Oct24 fer Bii Overnight 1/2 1-month 1 3/16 2-months 1 1/4 3-months 1 5/16 Overnight mode: 3/16 US$ Offer 3/8 15/16 1 1 1/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months $Au 2.50 4.00 4.25 4.25 4.25 4.25 4.25 Offer175 words
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Article24 2008-10-28 23 Oct24 ten Jii Sett STI ilMSCI Oct 209.2 209.8 192.3 'aiwan Oct 171.1 172.7 159.4 Source: MF Global (S) Pte. Ltd24 words
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Article23 2008-10-28 23 Oct24 SS Bid Offer 1-month 1.5037 1.5051 2 months 1.5009 1.5029 3 months 1.4979 1.4999 6-months 1.4901 1.4924 Source: OCBC23 words
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Article65 2008-10-28 23 Oct24 KLCE PALM FUTURES (RIV Delivery Opening Month Range M/MT) Sett Av Price Price Hi Vol Open Done Position Low Nov08 1570 Dec 08 1518 Jan 09 1520 Feb 09 1554 Total o/p: ***** contracts 1418 1583 1391 452 4037 1389 1553 1362 1005 ***** 1390 1556 135865 words
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Article284 2008-10-28 23 Oct27 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES DecO8 MarO9 JunO9 SepO9 97.4350 97.6150 97.5750 97.5250 9497 ***** 4488 3538 EUROYEN TIBOR FUTURES DecO8 99.230 99.265 MarO9 99.320 99.370 JunO9 99.350 99.390 SepO9 99.295 99.350 DecO9 Mar10 Jun10 Sep10 99.230 99.320 99.345 99.295 99.260 99.370 99.360284 words
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Article180 2008-10-28 23 Oct 24 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Month High Low Close Sett Volume (lots) O/l lots) Nov 08 Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 175.5 175.5 179.0 180.0 180.5 182.5 12 403 337 651 593 617 517 TSR 20 (US cents/kg)180 words
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Article89 2008-10-28 23 Oct24 Period Issue code Maturity Yesterday's Bid Hi< Day's |h Low 3-Month BQ*****X 22.01.09 1-Year BY*****N 04.05.09 0.87 1.08 0.82 0.72 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low Hii 2-Year NX*****T 4.625 5-Year NX*****Z 2.250 7-Year N*****0S 2.875 10-Year NY*****A 4.000 15-Year89 words
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Article101 2008-10-28 23 Oct24 (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Nov08 863.75 884.50 901.00 845.00 Jan 09 867.00 888.50 905.00 850.00 Mar 09 875.00 896.50 912.00 857.00 May 09 884.00 905.50 920.00 866.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 08 31.47 32.82 32.40 30.70 Ian 09101 words
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Article74 2008-10-28 23 CRUDE OIL PRODUCTS Oct24 origin! t/barrel Close Cham irent blend (1-Mth F) 62.52 -4.50 VTI (Near Mth) 64.68 -2.52 iubai (1-Mth F) 57.61 -3.00 "apis blend 66.75 -3.05 i/linas 66.10 -1.65 >RODUCT JS$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 38.77 82.20 -0.9I -1.71 US$/barrel )pec Oil Basket Price 60.2774 words
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Article461 2008-10-28 23 Oct24 AS Rmb Euro HKS IndRsRi Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound us: lustralia 0.813 4.367 0.504 4.944 31.847 63.813 0.607 9.081 2.282 1.105 51.886 31.207 0.960 7.267 0.748 21.321 22.117 0.402 0.638 Canada 1.230 5.374 0.620 6.083 39.188 78.521461 words
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Article75 2008-10-28 23 Oct24 6 mths 1.***** 9mths 1.***** 12 mths 1.***** SWAP Mid rates (Ss) 1 yr 1.***** 2yrs 2.***** 3yrs 2.***** 4yrs 2.***** syrs 2.***** 7yrs 3.***** 10yrs 3.***** 12yrs 3.***** 15yrs 3.***** Source: Thomson Reuters (US$) (SS) 3.***** 1.***** 1 mth 2 mths 3.***** 1.***** 3 mths 3.***** 1.*****75 words
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Article156 2008-10-28 23 Oct24 Against SS Currencies Bid Offer Against US$ Bid Offer S$fUS$ to one unit of foreign currency: Australian dollar 0.9595 0.9609 0.6374 0.6379 Canadian dollar 1.1809 1.1822 0.7844 0.7848 Euro 1.9055 1.9074 1.2658 1.2662 NZ dollar 0.8686 0.8701 0.5770 0.5776 Sterlini ind 2.3861 2.3882 1.5850 1.5854 US156 words
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Article158 2008-10-28 23 Oct24 GOLD (USS/oz) Oct 27 Oct 24 GOLD BULLION COINS (S$) Sellini Bu Hong Kong London 710.00 694.40 711.00 695.40 Oct 24 Oct 23 709.60 719.15 712.00 722.15 Source: Thomson Reuters yjj; jciiinij puyinij i~oz 1216.59 1089 UBS GOLD LUNAR KINEBAR (SS) Selling Buying 10gm $426.93 350 SILVER158 words
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Article61 2008-10-28 23 Oct24 iiuiii, yy.i (US$/tonne) Close Previous iri:ash 1917.00 1953.01 months 1971.00 2007.0I Copper, Grade A (US$/tonne) :ash months 3784.00 3770.00 4064.01 4040.01 .ead (US$/tonne) :ash 1259.00 months 1271.00 1277.01 1287.01 lickel (US$/tonne) :ash months 9826.00 *****.00 9173.01 9350.01 'in (US$/tonne) :ash *****.00 *****.01 months *****.00 *****.01 inc, Special61 words
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Article69 2008-10-28 23 Oct24 (£/tonne) Close Prev Hii ih/Low Dec 08 1298 1281 1300/1261 War 09 1302 1286 1308/1265 Way 09 1312 1294 1315/1275 ul 09 1324 1306 1327/1286 IOFFEE (US$/tonne) Close Pev High/Low Mov08 1618 1674 1664/1580 Ian 09 1668 1719 1710/1628 SUGAR (US tonne) White Close Prev High/Low lec 0869 words
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Article3013 2008-10-28 23 BONDS WARRANTS Pel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Disc Gear- Mths ing Left >058AdvanceModulesGrpW*****3 6 susp >036AdvanceSCTLtdW*****9 0.5 unch 170 3092 Asia Environment W*****4 6.5 1481 Asia Water Tech Ltd W*****0 ..18.5 5816 #Asiasons Capital Ltd W*****7 4 !756# Asiatic Grp(H) Ltd W*****2 9.53,013 words
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Page 24 Advertisements
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Advertisement2748 2008-10-28 24 The Business Times m Shipping Times m i^^^ tf iTilfflfli^tili^ftYl 11^,1 Iffl m\\ wan hai international pte ltd A «^Rf^ VSV BJjHaiftlLtfftME^ I V"T H~%\ IAfALI MAI HUPr TEL *****588 (14 LINES) FAX: *****163 ij^l^~ X A.^ ■^11 I'lH^ll BgJBSBHSJeHBJBagBsW mW3MtmWi&!&FmM^ I \\\N WAN HAI INtS Cu^omer Setvke/Booltin^ Direct Line2,748 words
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Page 25 Advertisements
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Advertisement5505 2008-10-28 25 r^!^BßS^H^^H I] EASTERN CAR LINER, LTD I I^^BnQBjDEJ lx_^^—-1 SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS B-U-U-J-U-S-t-J-ilflU-l |LUyL_tt_l_fl VOY I Romp(Kl) I Lillinq(Kl) I MUA ll SIN 1 PKL f LCB I JKT I SUR ~l ,fs4'?iy™"™ (v__miuaTi^^^^^^^^ oo in Pv> iuTTi HraTi nil VESSIt WI _3 DESTINATION PSL5,505 words
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PROPERTY
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Article, Illustration1466 2008-10-28 26 -AP Over 4m homeowners with a mortgage are at least one month behind on their payments as at end-June [WASHINGTON] Each day from July through September, more than 2,700 Americans lost their homes in foreclosure. That number, up from 1,200 a day a year ago,-AP; REUTERS - 1,466 words
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671 2008-10-28 26 Bloomberg [SAN FRANCISCO] For almost a year, Luis Flores has been lobbying mortgage lender IndyMac Federal Bank FSB to cut his house payments. They have doubled since he refinanced his home loan in 2005 and he can't afford them, Mr Flores says. "Every– Bloomberg - 671 words
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Article, Illustration656 2008-10-28 27 Bloomberg Japan's slowing economy and the credit crisis has damped commercial, residential demand [TOKYO/SHANGHAI] Tokyo residential property prices may be poised for a major decline because of excess housing supply and flagging demand, said Minoru Mori, chairman of Japan's biggest privately held developer.Bloomberg; REUTERS - 656 words
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279 2008-10-28 27 Reuters [LONDON] English and Welsh house prices fell by 7.3 per cent in the year to October, with the pace of decline accelerating to take prices back to their lowest since March 2006, property consultancy Hometrack said yesterday. Average house prices fell■ Reuters - 279 words
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895 2008-10-28 27 Reuters [MIAMI] At the height of Miami's condo construction boom, a stretch of South Dixie Highway south of the city was the place to be for a painter or drywaller looking for work or a contractor looking for workers. But those days are long– Reuters - 895 words
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605 2008-10-28 27 Reuters [HONG KONG] Chinese property stocks plunged to near all-time lows yesterday, with Guangzhou R&F sliding 25 per cent and China Overseas Land down 13 per cent, despite government steps unveiled last week to prop up the housing market. Analysts and dealers said they– Reuters - 605 words
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Page 26 Advertisements
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Advertisement19 2008-10-28 26 Blffii 110 °0/°PURE FUK I WILLTRANSFORMYOUR SMS TM ©2008 TWENTIETH CENTURY FOX FILM CORPORATION. lOUVISHI TTU5tv3iH« ALL RIGHTS RESERVED.19 words
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Advertisement75 2008-10-28 26 BRILLIANT FEATURES: High performance and balance of 3000 lumens with a 2000:1 contrast ratio True-to-life colors of DLP" with Brilliant Color™ technology Display Link content-over-USB for fast setup Lite Touch™ control LfnFccus The Big Picture HOW TO ZAP: Download software by SMS-ing the word "zap" to *****. Zap the code75 words
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Page 27 Advertisements
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Advertisement84 2008-10-28 27 FOR SALE Good Class Bungalow On BISHOPSGATE ***** 9000 sq.ft. (approx.) Vacant Possession For Viewing and Inspection, pis call CB Richard Ellis (Pte) Ltd John Goh 6854 8678 9383 6780 Expression of Interest D D E closing 12 NovoB (3pm)| cbrlSaSdeSS IM!Mil;J:!!lillHWdJiITl Q A, F Tebrau 2 near city «H*tt84 words
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Advertisement128 2008-10-28 27 FREEHOLD REDEVELOPMENT SITE FOR SALE /^s^ s Address: 943 Upper Changi Road v\ s<£/\^^z&&^—Zr< North /^-^ogJi^ /VV" Site Area: 13,561 sf n&\ Redevelopment potential*: VV<°/ "^^a^y-^/ Residential (Gross Plot Ratio: 1.4) _//\Jk a^HklBi "(Subject to authorities' review and \s\ BaiwaPk II approval) °°n* H Ideal for landed housing \2o\ Edelweiss128 words
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Page 28 Advertisements
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Advertisement203 2008-10-28 28 Dreams. Realities. The tower cranes are still. The drills are silent. At Citi, we work around the world and around the And for a weary group of Guangzhou construction clock, providing our clients with innovative thinking workers, the long work day has finally come to an and new opportunities. And203 words
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