The Business Times, 24 January 2009

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Microfilm: NL29640
Total Pages: 48
1 48 The Business Times
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  • Title Section
    Lock icon Masthead
    16 1 weekend THE BUSINESS TIMES JAN 24-25, 2009 Ssl.oo AN SPH PUBLICATION I mica(p) 198/08/2008 www.businesstimes.com.sg www.businesstimes.com.sg
    16 words
  • Article, Illustration
    Lock icon LOAN RANGERS
    639 1  -  Chen Huifen Govt will look at business loan applications that are rejected by banks By xuifen@sph.com.sg Singapore r~~ HE government will be talcing a proactive approach to unclog "all the blockages in the arteries" of the credit system, but companies must also do their part to prevent a
    639 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      120 1 l>L^n~99K^' L -—y j\ MOTORING TRAVEL SHOW ME "~—-A/ iTijvniricenr" 1.20 in Dl 1.12,13 ££?**ißJl Tlie Jjniijr. r>:n:.r 34 BT GOLF INDEX Membership prices fall High-end clubs badly hit while mid-tier ones hold their own| 2 PRIVATE HOME BLUES Projects pushed back Developers in no hurry to bring homes to
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        44 2 KL COMP 872.69 -6.33 NIKKEI 225 7,745.25 -306.49 HANG SENG 12,578.60 -79.39 SET 433.52 JAKARTA 1,315.58 -11.74 MANILA 1,857.34 -6.18 KOSPI 1,093.40 -22.83 SHENZHEN B 284.01 -1.11 MUMBAI IND 8,674.35 -139.49 11am EDT Change nam EDT Change DOW 7,956.42 -166.38 NASDAQ 1,454.63 -10.86
        44 words
      • Article
        Lock icon PRIME RATES
        29 2 Bloomberg SINGAPORE 5,38 MALAYSIA 6,63 HONG KONG 5,00 INDONESIA 16,359 TAIWAN 6,316 JAPAN 1,475 KOREA 9,33 BRITAIN 150 US 3,25 CANADA 3,00 SWITZERLAND 0,53 INDIA 13,00 Source:
        .- Bloomberg  -  29 words
      • Article
        Lock icon FOREX
        43 2 US$ 'S$ us$; 1.507 ;us$/ 1.371 2.067 EURO(US$/S$/E) 1.287 Foreign currencies per US$, S$ 1.939 'EN 88.40 58.60 RM 3.626 2.405 HK$ 7.759 5.148 BAHT 34.89 23.15 RUPIAH 11,295 7,494 RENMINBI 6.852 4.546 INDIAN RUPEE 49.20 32.64 1.545 1.025 NZ$ 1.911 1.268
        43 words
    • Article, Illustration
      Lock icon Membership prices of top clubs plunge
      527 2  -  Yen Sreenivasan Mid-tier golf clubs hold firm and prop up BT Golf Index By ven@sph.com.sg Singapore IF open-market prices of golf club memberships are a leading indicator of its health, there is little doubt the economy is in for a rough ride. The BT
      Compiled by BT  -  527 words
    • Article, Illustration
      Lock icon Private housing supply shrinking as prices fall
      831 4  -  Arthur Sim Developers delay projects' expected completion dates to beyond 2011 By simska@sph.com.sg Singapore DEVELOPERS appear to be turning their backs on the property market, deferring more projects as property prices keep falling. Private residential property prices fell 4.7 per cent last year.
      :URA  -  831 words
    • Article
      Lock icon Recession may stretch but govt ready: MM Lee
      573 4  -  Lee U-Wen By leeuwen@sph.com.sg Singapore THE big question is just how long Singapore will remain in a recession. The government, on its part, will be ready to deal with all possible fallouts from the economic slowdown, said Minister Mentor Lee Kuan Yew.
      573 words
    • Article, Illustration
      Lock icon Doubts linger over steps to unfreeze credit
      763 5  -  Conrad Tan BUDGET 2009 Some worry borrowers will hoard cash; some banks keen to preserve capital By conradt@sph.com.sg But the head of SME lending at another bank, speaking on the condition of anonymity, said that the scheme could merely move money from banks
      YEN MENG JIIN  -  763 words
    • Article
      Lock icon Developers grateful for small mcrcics
      397 5  -  Emilyn Yap They are glad that the Budget allows them to push back projects Singapore NOT all their wishes for the Budget were met, but real estate developers were still glad to receive property tax rebates and other measures that would help them with project
      397 words
    • Article, Illustration
      Lock icon Hard times bite the hongbao maker
      639 6  -  Teh Shi Ning Caston's sales of the red packets fall 15-20% as orders from foreign banks dip By tshining@sph.com.sg Singapore EVEN for the hongbao maker there is no escaping the ripples from the crisis that engulfed banks around the world over the past one
      ARTHUR LEE  -  639 words
    • Article, Illustration
      Lock icon Bank of America ditches Thain after shock losses
      758 7 Reuters Dismay over extent of losses from mortgages and toxic debt on Merrill's books New York JOHN Thain, former chief executive of Merrill Lynch, has been ousted from Bank of America Corp (BOA) after the bank discovered surprise losses at the brokerage
      Reuters; AP  -  758 words
    • Article
      Lock icon Tech giant Microsoft to slash 5,000 jobs
      482 7 LAT-WP Cutbacks the latest in spate of dismal news from tech companies Washington Microsoft has announced its first major layoffs in company history, saying that it would cut about 5,000 jobs, one of several economic signals that emerged on Thursday indicating that the
      LAT-WP  -  482 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Lock icon Page 2 Miscellaneous Column 1
      72 2 NEWS LIVING Top stories 2-7 Design L 2-4 Raffles Conversation 8,9 Entertaining L 5 Week In Review TO The CEO Column 11 V^Sjf ~&£ifefe Companies 12-15 Singapore 16,17 -*j? Letter From Abroad 18 pining L 6,7 World 19-22 Shopping 1.10,11 Stocks stats 23-25 Travel LI 2,1 3 Perspective 28-29 Weekend
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  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      193 3 www.htc.com/sea —r- I /mm\ mZ^^ W M You Tube Broacl?%urself H J^iMf "SO =v B m Mam Mm^ a U^h _^Htt^H .^^^l mmr A Imama\^\ H^^^^Hfl^T f -4Bb EWa .^mW mmmmm^axama m mmmi w~ m See More. Feel More. Experience More. Entertainment on the go, in your hand. Be inspired
      193 words
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  • Page 6 Advertisements
    • Advertisement
      Lock icon Page 6 Advertisements Column 1
      147 6 HOLIDAYS ARE HERE AGAIN! Take advantage of Hotel Nikko Kuala Lumpur's bonanza deals for the holidays. WEEKEND VALUE BUY with room rates from Ssl2s++ per night (room only) and 20% discount at The Sompoton Spa Level 5. OR The NEW YEAR DEAL at Ss224++ per night (double occupancy) in the
      147 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Adventures in education
      2422 8  -  Lee U-Wen Howard Hunter looks back on five eventful years at the helm of SMU, including the big move from Bukit Timah to Bras Basah. BY the time this article sees print, Howard Hunter will be busy packing his bags and getting ready to spend the long
      ARTHUR LEE  -  2,422 words
    • Article
      Lock icon Raffles
      76 8 Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. A collection of luxury hotels, Raffles Hotels and Resorts distinguishes itself through the highest standards of hospitality, service and cuisine. Its hotels in Singapore, Beijing, Cambodia, Beverly Hills, Dubai and the Caribbean
      76 words
    • THIS WEEK
      • Article
        Lock icon Gender gap stays wide in S'pore boardrooms
        58 9 JUST one in 15 directors of publicly listed companies in Singapore is a woman, according to data compiled by BT from public records. Of the 5,209 directors serving on boards of listed companies, just 337 seats or 6.5 per cent are held by
        58 words
      • Article
        Lock icon Obama stimulus plan holds potential for S'pore firms
        73 9 INCOMING US President Barack Obama will be seeking to spend US$l trillion to kick start the US economy. International Enterprise Singapore wants a cut of the spending for Singapore companies. Chong Lit Cheong, IE Singapore CEO, reckoned a big chunk of the
        73 words
      • Article
        Lock icon EDB sets the bar a notch lower
        59 9 EVEN as it redoubles its efforts to attract new investors, the Economic Development Board is pragmatically readjusting its targets during the downturn. Meanwhile, its list of helpful initiatives has grown longer. Investors struggling to secure funds for "viable" projects here may find EDB
        59 words
      • Article
        Lock icon Investment products: Banks may have to soften sales pitch
        83 9 BANKS may find it harder to sell in- vestment products following a review undertaken by the government to protect investors. Similarly, customers could find their investment choices shrinking as the bar is raised on what products are deemed suitable for them.
        83 words
      • Article
        Lock icon Good afternoon, Mr President
        92 9 BARACK Hussein Obama became the 44th president of the United States on Tuesday, and called on Americans to join him in confronting what he described as an economic crisis caused by greed but also "our collective failure to make hard choices". "Today, I say to you
        92 words
      • Article
        Lock icon Singapore gets a young, new chief planner
        60 9 SINGAPORE has a new chief planner. From the beginning of this year, Lim Eng Hwee took over the reins from Koh Wen Gin, who retired from the Urban Redevelopment Authority at the end of 2008. Mr Lim, 44, is also one of two
        60 words
      • Article, Illustration
        Lock icon THE TIME HAS COME
        33 9 Mr Obama promises bold and swift action to restore the economy by creating jobs through public works projects, improving education, promoting alternative energy and relying on new technology AP
        AP  -  33 words
      • Article
        Lock icon 2-5% contraction looms as S'pore sizes up the beast
        70 9 THE recession hasn't run its course, but is already Singapore's sharpest and deepest downturn to date, the Ministry of Trade and Industry said as it slashed its 2009 GDP forecast to a "more realistic" contraction of 2 to 5 per cent.
        70 words
      • Article
        Lock icon An anchor for jobs, a spur to lending
        75 9 SINGAPORE has pulled out all the stops including novel initiatives and a first foray into the reserves in a $20.5 billion big bang response to the economic tsunami it's en- gulfed in. Widely hailed as bold and responsive, the 2009 Budget or
        75 words
      • Article
        Lock icon China's Q4 growth slumps to 6.8%
        62 9 CHINA'S economy expanded at the slowest pace in seven years as the global recession dragged down exports, increasing pressure for more government spending and lower interest rates to buoy growth. Gross domestic product grew 6.8 per cent in the fourth quarter from a year
        62 words
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  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      315 9 CRYPTIC CROSSWORD ACROSS m —5 j^ v 9 Exceeding what is I Name is especially 1 I M reasonable, tramp runs characteristic of a body of lli out after more 0 'O water in Wales (5,6) mmmv B^-^ \\9 14 Fees paid in advance for 7 A port, one back
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    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      98 9 NEXT WEEK Jan 26-30, 2009 US DATA Jan 26 Dec existing home sales Dec leading indicators Jan 27 Jan consumer confidence Jan 28 Crude inventories FOMC rate decision Jan 29 Dec durable orders Initial claims Dec new home sales Jan 30 Q4 advance GDP Jan Chicago PMI Jan Mich sentiment
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Cleaning up the ocean for bluer skies
      1117 10 Technology can help reduce carbon dioxide emissions from ships and scrub other pollutants FROM THE DESK OF Chew Hwee Hong Managing director and founder, Ecospec Global Technology HIRTY years ago, "global warming" was unheard of. The noxious fumes expelled from the exhausts of
      1,117 words
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  • COMPANIES
    • Article
      Lock icon CapitaLand yet to make decision on fund-raising
      465 11  -  Jamie Lee Firm has received various such proposals, which include rights issues By leejamie@sph.com.sg Singapore CAPITALAND has been receiving various proposals for fund raising including through rights issues but it has yet to make a decision. The property titan said this yesterday in
      465 words
    • Article
      Lock icon Cosco reschedules delivery of seven vessels
      322 11  -  Vincent Wee by vincewee@sph.com.sg Singapore THE ill-wind blowing through the shipbuilding industry continues, with Cosco Corp (Singapore) yesterday revealing that it has agreed to reschedule the delivery dates of seven bulk carriers for a European ship owner by between three and 13 months after
      322 words
    • Article, Illustration
      Lock icon SMRT Q3 profit rises 7.6% to $41.2m
      619 11  -  Samuel Ec By samuelee@sph.com.sg Singapore SMRT Corp continued to roll ahead of the general corporate doom and gloom by announcing a 7.6 per cent year-on-year rise in net profit to $41.2 million for its third quarter ended Dec 31, 2008. Group revenue in
      FILE PHOTO  -  619 words
    • Article, Illustration
      Lock icon KepLand's bleak results may set tone for industry
      811 12  -  Uma Shankari CORPORATE FOCUS But measures announced during the Budget will help alleviate some of the burdens of property developers By KEPPEL Land, Singapore's third-largest property group by market capitalisation, on Wednesday reported an 88 per cent fall in fourth-quarter earnings, which
      BLOOMBERG  -  811 words
    • Article
      Lock icon FCT distributable income down 6% in Q1
      330 12 Singapore FRASERS Centrepoint Trust (FCT) has announced income available for distribution of $10.4 million for its first quarter ended Dec 31, 2008, which is 6 per cent lower than a year ago. Distribution per unit (DPU), however, was 1.67 cents, higher than 1.61
      330 words
    • Article, Illustration
      Lock icon No Obama, Budget or CNY rally; instead banking rears intensify
      552 13  -  R Sivanithy STOCKS Fall in Spore, HK indices underlie forecast of US market performance sivan@sph.com.sg Senior correspondent IT APPEARS that some stock market traders were hoping for a rally of sorts this week. We're talking about supposedly intelligent and rational
      552 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 13 59,101 236 -140 -5.( Golden As 47,445 28.5 0.5 l.i Jade Tech 22,489 1.5 0.0 O.( Joble Gl 18,096 96 -2.5 -2.i losco Coi 15,257 77.5 -3.5 A'.: ;ph 14,570 264 -3.0 -1.1 5n( ;Tel 11,523 253 -3.0 -1 ah/erlake 11,413 9 0.5 5.< iuntecReit 11,311 66
      110 words
    • Article
      Lock icon TOP GAINERS
      54 13 CLOSE BY CENTS UP JMH 1962 33.1 1.1 JSH 987 21.1 1.4 OCBC Bk4.5%NCPS 100 8250 20.0 0.2 Dail 439 16.6 2.6 lRBePW*****3 52.5 12.0 29.6 Creative Tech 412 12.0 3.0 OCBC Bk 5.1%NCPS 100 9198 10.0 0.1 Straits Trdj 430 10.0 2.4 UOB5.05%NCPS 100 9380 10.0 0.1
      54 words
    • Article
      Lock icon TOP LOSERS
      47 13 CLOSEDOWN UOB 1154 -34.0 -2. GLD 10US: 8424 -30.1 -o.: ir China H 10US$ 858 -30.1 -2.: ir MS India 10US$ 679 -30.1 -2.' iBS Gri 838 -18.0 -2.1 NSL 80 -18.0 -18. 236 -14.0 -5.( OCBC Bk 492 -14.0 -2.! DBSMERePW*****1 36 -12.0 -25.1
      47 words
    • Article
      Lock icon STI STOCKS
      104 13 CapitaLand 2.360 -0.140 1.460 -0.020 Cit> 'Dev 5.510 -0.100 Cosco Con 0.775 -0.035 iBS Grp 8.380 -0.180 :&N 2.960 -0.070 ient Intl 0.430 iolden 0.285 +0.005 IK Land 2.060 +0.020 IMH 19.620 +0.220 ISH 9.870 +0.140 lardine C&C 10.680 -0.020 ie! Con 4.100 +0.060 Ceppel Land 1.450 -0.030
      104 words
    • Article, Illustration
      Lock icon No hongbaos from the stock market
      518 13  -  Jamie Lee By leejamie@sph.com.sg Singapore NOT today honey market watchers do not foresee any Chinese New Year (CNY) rally this year as markets go limp amid the recession blues. Some argue that the CNY rally is outdated as the Singapore market has become a
      BLOOMBERG  -  518 words
    • Article
      Lock icon Suntec Reit distribution income surges
      406 14  -  Tang Wen En Jump of 31.7% to $44.1 m for the Oct-Dec period; DPU for quarter also up at 2.858 cents By tangwe@sph.com.sg Singapore SUNTEC Real Estate Investment Trust (Suntec Reit) has reported a distribution income of $44.1 million for the quarter ended Dec 31,
      406 words
    • Article
      Lock icon Mercator Q3 profit drops 9% to US$13.1m
      411 14  -  Vincent Wee By vincewee@sph.com.sg Singapore INDIA-FOCUSED dry bulk shipping company Mercator Lines (Singapore) was unable to go against the tide and expectedly saw third quarter net profit fall 9 per cent to US$l3.l million and revenue drop 2 per cent to U5542.4 million.
      411 words
    • Business briefing
      • Article
        Lock icon Enviro-Hub may incur loss for Q4, full year
        97 14 ENVIRO-HUB Holdings Ltd yesterday warned that the group is likely to incur a loss for the fourth quarter ended Dec 31, 2008 and for the full year 2008. It said the deteriorating global financial situation has caused a sharp dip in the
        97 words
      • Article
        Lock icon UOB subscribes for 90m more shares in unit
        47 14 UNITED Overseas Bank Limited (UOB) said yesterday that it has subscribed for an additional 90 million ordinary shares in UOB Property Investments Pte Ltd, a wholly owned subsidiary of the bank, for a total cash consideration of $90 million.
        47 words
      • Article
        Lock icon GuocoLeisure Q2 profit falls 27.8%
        97 14 GUOCOLEISURE Limited yesterday reported that its net profit for the second quarter ended Dec 31, 2008 fell 27.8 per cent to US$ll.4 million, partly due to the effect of the weaker British pound and Australian dollar against the US dollar. It was also affected by
        97 words
      • Article
        Lock icon Abterra expects loss for half-year period
        49 14 ABTERRA Ltd said yesterday it is expecting to report a loss for the six months ended Dec 31, 2008. Key factors are the possible impairment loss on investments and writedown of certain inventories to net realisable value. It blamed the economic economic crisis.
        49 words
      • Article
        Lock icon 2008 financial results may be hit: Ramba
        44 14 RAMBA Energy, previously known as Rich Land Group, warned yesterday that its net financial results for the full year ended Dec 31, 2008 could be adversely affected by a slowdown in sales and a one-off restructuring charge.
        44 words
    • Article
      Lock icon Ascott Reit's Q4 distributable income falls 20%
      366 14  -  Jessica Yeo By yeojess@sph.com.sg Singapore ASCOTT Residence Trust (ART) yesterday announced a distributable income of $10.32 million for the fourth quarter of 2008, a fall of 20 per cent from the previous corresponding period's $12.85 million because of one-off expenses. The one-off expenses
      366 words
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  • Page 12 Advertisements
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      Lock icon Page 12 Advertisements Column 1
      320 12 g^NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF SHL ASIA PACIFIC REGION PTE. LTD. (COMPANY NO. *****2504H) (IN MEMBERS' VOLUNTARY LIQUIDATION) Extract of the Minutes of an Extraordinary General Meeting of SHL ASIA PACIFIC REGION PTE. LTD. held at Krijtwal 29A 3432 ZT
      320 words
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  • SINGAPORE
    • Article
      Lock icon LNG terminal's construction to start by mid-year
      389 15  -  Ronnie Lim The project will go on stream around middle to late-2012, says a source By ronnie@sph.com.sg CONSTRUCTION of Singapore's $1 billion liquefied natural gas (LNG) terminal is set to begin by the middle of this year, sources say. Developers Power Gas and
      389 words
    • Article, Illustration
      Lock icon 'Lo hei' goes international at Cisco
      249 15  -  Arthur Lee By arthurl@sph.com.sg CISCO, a leader in networking solutions, organised its first virtual to hei party for employees and their families on Thursday. Staff across thousands of miles gathered together at the same time to celebrate Chinese New Year through Tele Presence. This
      ARTHUR LEE  -  249 words
    • Article
      Lock icon Water engineering specialists share ideas
      174 15 A FORUM on advanced water engineering with micro-organisms has been held in Singapore. Jointly organised by the Public Utilities Board, the International Water Association (IWA) and the International Society for Microbial Ecology, the four-day event brought together more than 40 international specialists. The aim was
      174 words
    • Article
      Lock icon Singapore, Iceland ink open skies agreement
      216 15 SINGAPORE and Iceland have concluded an open skies agreement (OSA) that gives their airlines the flexibility to operate services between and beyond the two countries and via intermediate points without restrictions on capacity, frequency or aircraft type. The Civil Aviation Authority of Singapore (CAAS)
      216 words
    • Article, Illustration
      Lock icon Commercial rents feel the slowdown
      542 16  -  Emilyn Yap Leases and prices of industrial and office space fall in Q4 2008 after years of steady gains By emilyny@sph.com.sg AFTER more than four years of steady increases, rents and prices of industrial space have finally caved in to the economic slowdown, falling 3.7
      BLOOMBERG  -  542 words
    • Article
      Lock icon ez-link cards go places with more top-up channels
      279 16  -  Jessica Yeo By yeojess@sph.com.sg COMMUTERS can now top up their ez-link cards at DBS and POSB ATMs as well as at AXS Stations, DBS Bank and EZ-Link said yesterday. The main reason for the move is that bus travellers had fewer top-up
      279 words
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  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      157 16 A BBAIH NOTICE NOTICE t-, -r "1/ dare Louise "I, Gordon Donald James Fitzgibfccn, single, of 123 Alexander, bachelor, c£ 3 o oo Al Meyer Road, 22-05 The 123 Meyer Road, 22-05 7 Makena, Singapore The Makena, Singapore 3 r *****4 intend to marry *****4 intend to dare Louise Fitzgiifcon,
      157 words
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  • LETTER FROM ABROAD WITH ASCOTT
    • Article, Illustration
      Lock icon Rebuilding Cambodia
      668 17  -  Weng Aow LETTER FROM SIEM REAP General Manager Angkor Palace Resort CAMBODIA first became a part of my life in 1997 when I volunteered for a project there for Raffles International. I went to bring over the pioneer batch of Cambodian hospitality trainees from Phnom Penh to our
      668 words
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      268 17 NOW DEFINING GLOBAL LIVING s Jr B 4 Ascott Beijing Raffles City' I M I HINA Somerset Grand Fortune Garden, Beijing! -s^Somerset Harbour Court, Dalian r~~M~^\ I I 11 V"'l Somerset ZhongGuanCun, BeiJinglS >J Dalian '■•I 'i Luxury Serviced Residence. BeiJinglS^jmg J "'l'lf* I From the spacious exclusivity and refinement
      268 words
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      Lock icon Page 17 Advertisements Column 2
      15 17 THE ASCOTT GROUP A Member of Capita Land Thisseriesisbrought to you by The Ascott Group
      15 words
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  • WORLD
    • Article
      Lock icon Geithner may have hit a raw nerve in China
      468 18 Bloomberg Obama's nominee for Treasury secretary says that the president believes Beijing is 'manipulating' its currency Washington TIMOTHY Geithner's warning that US President Barack Obama believes China is "manipulating" its currency may trigger renewed tensions between two of the world's three
      Bloomberg  -  468 words
    • Article, Illustration
      Lock icon Ox that is a bear at heart
      453 18 AP Hong Kong IF the global economy fails to recover in 2009, the housing bubble or credit crunch may not be to blame. It could be a lack of fire. Chinese fortune tellers say that fire one of the five elements that mystics
      AP  -  453 words
    • Article
      Lock icon KL yet to make decision on new budget terminal
      487 18  -  S Jayasankaran By btworld@sph.com.sg Kuala Lumpur THE Malaysian government is yet to decide on a new low-cost airline terminal at Labu in Negri Sembilan, Deputy Prime Minister Najib Razak said yesterday. His remarks give credence to a BT story saying that
      487 words
    • Article, Illustration
      Lock icon Court told of Satyam boss's phantom workers
      544 19 NYT, Bloomberg, Reuters He also used mother's name to buy land, says prosecutor Hyderabad THE head of Satyam Computer Services confessed to making up more than 10,000 employees to siphon money from the software company and to using his elderly mother's name to
      NYT, Bloomberg, Reuters; AP  -  544 words
    • Article
      Lock icon HK broker offers full minibonds refund
      295 19 AFP Hong Kong A LEADING Hong Kong brokerage has agreed to fully refund hundreds of investors who bought complex financial products at the centre of a misselling scandal, the city's market watchdog said. Sun Hung Kai Investments agreed to repay around HK$B5 million (5516.5
      AFP  -  295 words
    • Article, Illustration
      Lock icon Indian PM to undergo bypass surgery
      169 19 Reuters New Delhi INDIAN Prime Minister Manmohan Singh will undergo coronary artery bypass surgery today, only a few months before he is due to lead the ruling Congress party into general elections. Any doubts about Mr Singh's health could undermine his re-election campaign, coming
      Reuters  -  169 words
    • Article, Illustration
      Lock icon It's official, UK now mired in one of its worst recessions
      502 20  -  Jane Moir Data caps week of gloomy data with jobless figure pushing 2 million By btworld@sph.com.sg London WORSE-than-expected economic data has confirmed that Britain has sunk into its worst recession in 28 years. The economy shrank 1.5 per cent
      AP  -  502 words
    • Article
      Lock icon Pfizer in talks to buy Wyeth: report
      408 20 Reuters London PFIZER is in talks to acquire rival Wyeth in a deal that could be valued at more than US$6O billion, according to the Wall Street Journal. The newspaper, citing people familiar with the matter, said that the two sides had been
      Reuters  -  408 words
    • Article
      Lock icon Obama runs into 'petty grievances' of politics
      558 21 LAT-WP Republicans accuse Democrats of ignoring his call for bipartisan approach when writing the USsB2sb stimulus plan Washington JUST days after taking office and vowing to end the political era of "petty grievances", US President Barack Obama ran into mounting Republican opposition on
      LAT-WP  -  558 words
    • Article, Illustration
      Lock icon Samsung runs up 20b won loss in Q4
      501 21 AP Seoul SAMSUNG Electronics, the world's largest manufacturer of flat-screen televisions, memory chips and liquid crystal displays, posted its first ever quarterly loss yesterday as the global economic slump hit prices and demand for mainstay products. Samsung lost 20 billion won (5521.7
      AP; BLOOMBERG  -  501 words
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  • Page 20 Advertisements
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      Lock icon Page 20 Advertisements Column 1
      64 20 I The famous "A Room Within A Room" concept originally designed by Eero Aarnio in 1996 Chic retro design A with white exterior A red interior cushioned A wall that is B upholstered in fabric V Durable stylish fiberglass shell W Swivels 360 degrees Removable interior cushions for easy cleaning
      64 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      1618 25 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 offer
      1,618 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      46 25 Up Down Unch 5 9 0 Up Down Unch OOP Up Down Unch 5 9 0 lulti Ind Tanul |-acturin; .ommerce -inance ,onst ruction 'roperties Tfo\ Totel Sts" >ervices led TateF lininj larr Active counters with no volume for today are not included.
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      35 25 MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 21,745 21,745 55,649 55,649 Tanul ractunn; .ommerce -inance .onstruction >ervices Tect m fater limn} luarr Sing foreign stocks. Value calculated using Monday's exchange rates
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      785 25 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jan 19 Trans Date Shareholder/ Director Sell Conv Shares '000 Per Shr$ Before ('000) After ('000) Trans Date Substantial Shareholder/ Director Buy Sell Cony No of Shares 'OOP Price Per ShrS SHAREHOLDING Before After ('000) ('000) itock Stock 'enguin Intl
      785 words
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  • MARKETS
    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 26 YTD change: -4.33% 52-week high: 3,269.88 on May 5,2008 52-week low: 1,473.77 on Oct 28,2008 Source: Bloomberg
        : Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Hang Seng Index
        19 26 YTD change:-12.57% 52-week high: 26,387.30 on May 5,2008 52-week low: 10,676.20 on Oct 27,2008 Source: :Bloomberg
        :Bloomberg  -  19 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        26 26 YTD change: -7.45% 52-week high: 13,136.60 on May 19,2008 52-week low: 7,449.38 on Nov 21,2008 (Chart shows Thursday's index closing) Source: -Bloomberg
        -Bloomberg  -  26 words
      • Article
        Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
        364 26 Jan 22 dy yr dy yr dy yr Index Change Change Change Change Change Change World Index Preliminai 618.9 -1.7 -45.3 -2.1 -45.9 -1.7 -48.1 EAFE Preliminai 596.9 0.0 -46.7 -0.6 -49.4 -0.1 -51.4 Euroi Preliminai 832.7 -0.7 -46.0 -0.8 -53.7 -0.3 -55.5 Pacific 500.9
        364 words
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        20 26 YTD change:+9.33% 52-week high: 4,806.89 on Jan 25,2008 52-week low: 1,664.92 on Oct 28,2008 Source: Bloomberg
        Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Nikkei 225
        18 26 YTD change:-12.58% 52-week high: 14,601.20 on June 6,2008 52-week low: 6,994.90 on Oct 28,2008 Source: Bloomberg
        Bloomberg  -  18 words
      • Article
        Lock icon LIFFE
        65 26 Jan t\ 1 (£/tonne) Close Prev Hii Sh/Low Mar 09 2580 2602 2657/2570 May 09 2592 2608 2665/2582 Jul 09 2582 2588 2626/2575 SepO9 2567 2562 2596/2550 COFFEE (US$/tonne) Close Pev High/Low Jan 09 2135 2052 2140/2072 SUGAR (US tonne) White Close Prev High/Low Mar 09 345.0 349.0 352.0/340.5
        65 words
      • Article
        Lock icon CHICAGO BOT
        93 26 Jan 22|| SOYBEANS (5,000 bu min; USc/60 Ib bushels) Close Previous High/Low Mar 09 1012.*****0.*****4.75 996.25 May 09 1019.*****9.*****3.*****5.00 Jul 09 1027.*****8.*****3.*****3.75 Aug 09 1018.*****1.*****4.*****0.00 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low Mar 09 33.53 33.95 34.49 33.16 May 09 33.90 34.32 34.85 33.57 Jul 09 34.28 34.70
        93 words
      • Article
        Lock icon OIL
        76 26 Jan 22| :rude ISS/barrel (FOB origin) Close Change Srent blend (1-Mth F) VTI (Near Mth) )ubai (1-Mth F) 'apis blend /linas 43.83 -0.15 41.60 -1.17 43.62 1.94 49.05 2.30 45.70 2.35 •RODUCT ISS/barrel (FOB Spore) Close Change \l aphtha let Kerosene 46.77 3.22 57.00 0.70 JSS/barrel )pec Oil Basket
        76 words
      • Article
        Lock icon METALS
        75 26 Jan 23§ GOLD ;us$/oz; Jan 23 Jan 22 Hong Kong 853.50 853.10 854.50 854.10 Jan 22 Jan 21 London 856.25 848.60 858.25 850.60 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 17.03 16.79 Source: UOB PLATINUM Lon (US$/oz) Jan 22 Close Previous PM Fix 930.00 927.00 AM Fix
        75 words
      • Article
        Lock icon INTERBANK CURRENCY RATES
        145 26 Jan 23 :urrencies Bid >$/US$ to one unit of foreign currency: Australian dollar 0.9740 Offer 0.9767 Bid 0.6469 Offer 0.6474 :anadian dollar 1.1971 1.2000 0.7950 0.7954 iuro 1.9369 1.9411 1.2864 1.2866 IZ dollar 0.7873 0.7904 0.5229 0.5239 jterlini 2.0645 2.0692 1.3711 1.3715 IS dollar 1.5057 1.5087 >$/US$
        145 words
      • Article
        Lock icon PALM OIL
        60 26 Jan 23| lelivery 4onth Opening Range Sett Price Av Price Low Vol Done Open Positioi Hit :eb09 1855 Aji-09 1844 \prO9 1840 .lay 09 1848 "otal o/p: ***** contracts 1842 1882 1836 1835 1881 1828 1830 1879 1825 1830 1872 1825 Turnover: ***** lots Market tone: Lower 324
        60 words
      • Article
        Lock icon LONDON METALS
        59 26 Jan 22| Uumlnlum, 99.7? mrity (US$/tonne' Close Previous :ash months lopper, Grade A 1296.50 1330.00 1301.00 1335.00 ;us$/tonne) lash J months ■ead (US$/tonne; 3054.80 3090.00 3186.50 3220.00 :ash 1067.20 1082.50 :ash months 'in (US$/tonne; *****.00 *****.00 *****.01 *****.01 :ash months :inc, Special Hi; *****.00 *****.01 *****.00 *****.01 Grade
        59 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon The withering of banks' pay packages
      1208 27  -  Floyd Norris NYT Some economists think that up to half of the US finance sector's current wage advantage will disappear By IT IS one thing when the best-paid people seem to be the smartest and the most accomplished. Those who make much less may
      NYT; BLOOMBERG  -  1,208 words
    • Article
      Lock icon America's mortgaged future
      807 27  -  Dwight Cass BREAKING VIEWS By US mortgage policy: In the two years since the US housing market's decline began wreaking havoc on the global economy, few effective plans to address the mortgage crisis have emerged. President Barack Obama has correspondingly few attractive options. If he's to make
      807 words
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  • Wealth
    • Article, Illustration
      Lock icon Retirement portfolios fail turmoil's test
      1049 28  -  Genevieve Cua Vicious bear market has called into question conventional assumptions on risk and returns THE ongoing financial turmoil is wreaking havoc on retirement portfolios, particularly among those with a relatively short time to retirement of three to five years. Some financial planners are busy
      FILE PHOTO; errill Lynch  -  1,049 words
    • WEALTH INVESTING
      • Article
        Lock icon brokers' take
        875 28  -  Citigroup Conrad Tan Capita Mall Trust Jan 23 close: $1.46 RESULTS in line: For Q4 2008, Capita Mall Trust (CMT) reported a distribution per unit (DPU) of 3.65 cents, bringing total DPU for 2008 to 14.29 cents. Gross rental revenue was up 3.6 per cent q-o-q while net
        875 words
      • Article, Illustration
        Lock icon The economy is bad, but 1982 was worse
        1146 29 NYT The job market shows, for starters, that the US economy is not yet as bad as it was in the early 1980s New York YOU often hear that we are now living through the worst recession since the early 1980s, and
        NYT; BLOOMBERG  -  1,146 words
      • Article, Illustration
        Lock icon Livid investors launch volley of lawsuits
        1601 30 LAT-WP Washington SOME angry investors both average Americans and giant pension funds are not taking their massive losses quietly. Holding portfolios that have imploded from a barrage of financial time bombs, they are turning to the courts for compensation. "Anytime people lose money, expect
        LAT-WP; STOCK.XCHNG  -  1,601 words
      • Article, Illustration
        Lock icon An old market saw put to the test
        1442 31  -  Teh Hooi Ling SHOW ME THE MONEY Can the whole year's performance of a market be foretold in the first month? A little bit of research reveals all hooiling@sph.com.sg Senior correspondent S goes January, so goes the year." Or so the saying
        AP  -  1,442 words
    • WEALTH REAL ESTATE
      • Article, Illustration
        Lock icon Serviced apartments unscathed in Vietnam
        310 32 Bernama Demand for rental units in cities still high despite economic crisis Ho Chi Minh City THE serviced apartments segment remains untouched by the property market's woes, with demand for rental apartments in major cities high despite the economic recession, Vietnam News Agency (VNA) reported.
        Bernama; BLOOMBERG  -  310 words
      • Article, Illustration
        Lock icon Steep fall in transactions surprises many
        889 33  -  Uma Shankari HDB's Resale Price Index rose just 1.496 a marked slowdown from 4.296 in Q3. THE public housing market the only property segment still growing suffered a sharp fall in transaction volume in the fourth quarter of 2008. HDB's Resale Price Index rose
        889 words
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  • Page 32 Advertisements
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      Lock icon Page 32 Advertisements Column 1
      333 32 PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) District 3 District 15 NON-LANDED NON-LANDED TanglinView Apt 06/01/2009 99 1141 950 833 EastbaY API 05/01/2009 FH 1130 927 820 One Amber Apt 07/01/2009
      333 words
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  • Page 34 Miscellaneous
    • Miscellaneous
      Lock icon Page 34 Miscellaneous Column 1
      80 34 DESIGN-ART Limited edition furniture thafs attracting I a new breed of buyers I L2~/L I l GUEST CHEF I Ec Ming Hwa of Domvs L 5 I DINING F^ Hot new restaurants L 6-7 PERSONAL SPACE y Danny Cheok of Far East Flora LB-9 I I SHOPPING I American indie
      80 words
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  • BT Living
    • DESIGN
      • Article, Illustration
        Lock icon One for the home
        1441 35  -  K^J J I I Lim Sio Hui Limited edition designer pieces, or design-art, with their unique ideas and provenance, are attracting a new breed of collectors and selling for eye-popping prices at auctions. ITS illustrious moment came in June 2006 during a Sotheby's New York auction,
        1,441 words
      • Article, Illustration
        Lock icon Sitting on an investment
        415 36  -  Lim Sio Hui A guide to some of the collectable names in design-art. Melting boundaries Created during his residency in China in collaboration with Shanghai-based Contrasts Gallery, Dutch designer Maarten Baas's Transformation series is the result of experimenting with distinctly Chines^ forms. Renowned for his conceptual
        415 words
    • ENTERTAINING
      • Article, Illustration
        Lock icon Best of both worlds
        747 37  -  Cheah Ui-Hoon guest chef Sous chef Ec Ming Hwa of Domvs has come up with a four-course Italian-Chinese New Year menu for the festive season IT'S the first time Domvs has come up with a special set menu for Chinese New Year, and in case you're
        747 words
    • DINING
      • Article, Illustration
        Lock icon Worth the wait
        1817 38  -  Geoffrey Eu Jaime Ec It's a depressed market out there, but that's not stopping some chefs from going ahead with long-cherished restaurant ventures Fifty Three 53 Armenian Street *****-5535 www.fiftythree.com.sg FIFTYTHREE, a modern European restaurant with cool Nordic interiors and an innovative young hotshot in the kitchen
        1,817 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon House of blossoms
        1187 39  -  Clarissa Tan personal space The home of Far East Flora's group managing director Danny Cheok is a haven of green filled with beautiful floral arrangements. T THIS time of year, Danny Cheok's garden is all reds, oranges and yellows. Pots of scarlet blossoms line his driveway. Within
        YEN MENG JIIN  -  1,187 words
    • SHOPPING
      • Article, Illustration
        Lock icon SO HIP IT HURTS
        922 40  -  Melissa Lwee American labels with their cutting-edge designs a^^^^^^rc^^^isual and fun than their European counterpartsi HE world watched, enthralled, as US president Barack Obama and his wife Michelle took centrestage at the Neighborhood Inaugural Ball in Washington on Tuesday. But for one young American designer by
        i BLOOMBERG  -  922 words
      • Article, Illustration
        Lock icon Keep your eyes peeled for these
        365 40  -  Melissa Lwee rag bone www.rag-bone.com Inhabit, #81-03 Palais Renaissance FOUNDED in 2002 with the vision of making clothes that they and their friends would love to wear everyday, rag bone has found fans amongst celebrities such as Gossip Girl's Blake Lively. Says Inhabits owner
        365 words
    • TRAVEL
      • Article, Illustration
        Lock icon 36 hours in DC
        1474 41  -  Helene Cooper NYT Washington is suddenly hip again and novVs the best time to visit the US capital WASHINGTON is suddenly hip again, infused with the heady double-barrel-led combination of a new crowd of idealistic young political worker bees, who actually believe they can change the
        NYT; AP, AFP, REUTERS  -  1,474 words
    • WEEKEND WITH
      • Article, Illustration
        Lock icon A special way with words
        885 42  -  Cheah Ui-Hoon As the festive season approaches, Nafa president Choo Thiam Siew turns his calligraphic skills to good use writing couplets as gifts for close friends. WEEKEND WITH CHOO THIAM SIEW PRESIDENT NANYANG ACADEMY OF FINE ARTS THERE are those who bake Chinese New Year
        YEN MENG JIIN  -  885 words
    • HEALTH
      • Article, Illustration
        Lock icon Hope for creaky knees
        564 43  -  Cheah Ui-Hoon my aching body head to toe Surgery may be needed if pain gets too severe and function is restricted. KNEE replacement is not something that doctors will recommend for those before 60 years old, but if the pain is too severe and function is
        564 words
      • Article
        Lock icon BONE HEALTH SCREENING PACKAGE
        104 43 At Parkway Health, we strongly believe that you are never too old or too young to improve your bone health. With healthy nutrition, physical activity as well as regular medical check-ups, you can have strong bones and live longer, healthier lives. We have customised an affordable
        104 words
      • Article
        Lock icon Using the body's resources to heal
        369 43 USING the body's own resources to heal itself seems to be the way these days. Especially when it comes to treating osteoarthritic joints, or problems like tennis elbow. Even as stem cells are being clinically tested now, treatments like the injection of the patient's
        369 words
    • SPORT
      • Article, Illustration
        Lock icon Downturn nips at lOC's heels
        714 44 Reuters Athens A SPONSOR filing for bankruptcy protection, delayed TV contract negotiations and Olympic villages in need of emergency cash bail-outs: the global financial crisis has landed on the Olympic Games doorstep. While the International Olympic Committee (IOC) says it has the financial stamina to
        Reuters; AP  -  714 words
    • GOLF
      • Article, Illustration
        Lock icon Golfs good for business
        1241 45  -  Justine Moss CEOS enjoy teeing off not only for leisure but also for networking. WHEN Barack Obama moved into 1600 Pennsylvania Avenue this week, he took along the family, some essentials from his Chicago home and his trusty golf clubs. According to online reports, President Obama
        1,241 words
    • MOTORING
      • Article, Illustration
        Lock icon Sette and match
        442 46  -  Samuel Ec You may think it will be harder to find a Category A seven-seater than to spot a bluefin tuna swimming off Changi Beach. But there are actually two 1.5-litre MPV models on the market the Toyota Passo Sette and the Honda Freed SPECS Toyota Passo
        442 words
      • Article, Illustration
        Lock icon Free your mind
        360 46 LIKE the Toyota Passo Sette, the Honda Freed is a mini-MPV powered by a 1.5-litre engine. But unlike the Toyota, the Freed has been around a bit longer. The Honda was launched in Japan last May and parallel importers brought it in a few months after. Today,
        360 words
      • Article, Illustration
        Lock icon THE BIG ONE
        595 47  -  Samuel Ec Tan Chong is marketing this spacious seven-seater MPV as a mobile business unit or YIP lounge. YOU don't have to be fluent in Spanish to figure out that Nissan's choice of name for its Elgrand MPV has something to do with its size. This big
        595 words
      • Article, Illustration
        Lock icon 7 HEAVEN
        857 48  -  Samuel Ec Longer and sportier, the new BMW 7 Series is a technological marvel. H M OST personal relationships evolve over time they rarely stay the same. What starts out hot and hunky-dory may turn tepid later. And vice versa. The same is true with automotive relationships. While
        857 words
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  • Page 43 Advertisements
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      Lock icon Page 43 Advertisements Column 1
      78 43 This is the third of a four-part series brought to you by Parkway Health™ 1 Terms Conditions: i 1. This package is valid from 10 January to 31 March 2009. 2. This screening package is only available at: Island Orthopaedic Group clinics at East Shore, Gleneagles and Mount Elizabeth Medical
      78 words
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  • Page 44 Advertisements
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      Lock icon Page 44 Advertisements Column 1
      786 44 Wine^Cline withßTWeekend Pine Court Chinese Restaurant and Le Jardin dcs Sens in Montpellier, this a 6826-8240 lliro h H W former right-hand man to the Michelin star Marina Mandarin Singapore Chinese New Year Celebrations MeritusTMandarin Spore twin chefs JaccP s and Laurent P°ucel is set 6 Raffles Boulevard, Marina Square
      786 words
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