The Business Times, 28 February 2009

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Microfilm: NL29655
Total Pages: 48
1 48 The Business Times
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  • Title Section
    Lock icon Masthead
    13 1 weekend THE BUSINESS TIMES FEB2B-MAR 1,2009 Ssl.oo I ■»*ANSPH PUBLICATION MICA(P) 198/08/2008 www.businesstimes.com.sg
    13 words
  • Article, Illustration
    Lock icon GIC cuts loss in one fell swop
    977 1  -  Conrad Tan Conversion of its Citigroup preferred shares into common stock will pare paper loss from US$5.5 billion to US$l.67 billion By conradt@sph.com.sg Singapore r HE Government of Singapore Investment Corp (GIC) will convert all its preferred shares in Citigroup into common stock
    BLOOMBERG  -  977 words
  • Article
    Lock icon PM sketches scenario of 8 per cent GDP contraction
    651 1  -  Chuang Peck Ming By peckming@sph.com.sg Singapore PRIME Minister Lee Hsien Loong has said it again the economy could shrink more than 5 per cent this year. And this time he said the contraction could be as sharp as 8 per cent
    651 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      94 1 '^ffll Jp^^! SHOPPING ET3MI GOLF WEALTH Hl' CORPORATE CRUNCH Q4 earnings slump 87.3% Among companies in the black, 65 per cent reported smaller gains 3 RARE WINNER Wilmar makes USsl.slb profit Divident payout almost trebles to 7.3 Singapore cents a share 111 STANDOFF AT THE MALL Retailers, landlords dig in
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    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 2
      6 1 •^2 OBU By mm^m! k^ I^S
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        45 2 KL COMP 890.67 -2.75 NIKKEI 225 7,568.42 +110.49 HANG SENG 12,811.57 -83.37 SET 431.52 -0.42 JAKARTA 1,285.48 -4.85 MANILA 1,872.22 -8.16 KOSPI 1,063.03 +8.24 SHENZHEN B 300.54 -10.02 MUMBAI IND 8,891.61 12r>m EDT -63.25 Chnngrp 12pm EDT DOW 7,127,84 Change -54,24 NASDAQ 1,389.83 -1.64
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      • Article
        Lock icon PRIME RATES
        29 2 Bloomberg SINGAPORE 5,38 MALAYSIA 5,85 HONG KONG 5,00 INDONESIA 16,517 TAIWAN 4,826 JAPAN 1,475 KOREA 9,33 BRITAIN UK) US 3,25 CANADA 3,00 SWITZERLAND 0,52 INDIA 12,25 Source:
        Bloomberg '  -  29 words
      • Article
        Lock icon FOREX
        41 2 US$ 5$ »er US$; 1.544 'US$; 1.424 2.198 EURO. ;US$; IS$i 1.270 1.960 EN 97.90 63.40 RM 3.703 2.399 HK$ 7.754 5.024 BAHT 36.075 23.37 RUPIAH 12,000 7,774 RENMINBI 6.840 4.431 INDIAN RUPEE 50.81 32.92 1.552 1.005 NZ$ 1.979 1.282
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    • Article
      Lock icon Q4 earnings down 87.3 per cent at $1.51b
      785 3  -  Jamie Lee Three-quarters of the 88 loss-making companies in the fourth quarter had swung from profit to loss By leejamie@sph.com.sg Singapore THE numbers are not pretty. Total earnings posted by 229 companies for the fourth quarter of 2008 crashed 87.3 per cent
      785 words
    • Article
      Lock icon Asean, Australia, NZ sign landmark free trade agreement
      749 3  -  Anna Teo Pact is grouping's most wide-ranging, covering goods, services, investments Byi anna@sph.com.sg Hua Hin, Thailand AMID the flurry of meetings and statements that are routine at such gatherings, the Asean Summit in Hua Hin has produced its first concrete outcome, one
      749 words
    • Article
      Lock icon Banks' profits plunge as bad-loan provisions soar
      717 4  -  r Conrad Tan Things may get worse as net interest margins get squeezed and credit deterioration sets in By conradt@sph.com.sg Singapore BANKS here saw their fourth-quarter net profits plunge after they were hit by mounting charges for bad loans. And analysts reckon things
      717 words
    • Article
      Lock icon UOB cuts dividend, rules out rights issue
      648 4  -  Siow Li Sen By lisen@sph.com.sg Singapore UNITED Overseas Bank (UOB) yesterday cut its final dividend to 40 cents from 45 cents, and did not rule out further cuts as the bank grappled with rising bad loans amid Singapore's worst downturn. Chief executive Wee
      648 words
    • Article
      Lock icon Earnings deluge takes steam out of SGX system
      144 4 Singapore THE huge number of companies rushing to report their financial results yesterday caused the Singapore Exchange (SGX) online platform to experience slowness, which resulted in delays in the release of some results. "Some users are experiencing slowness when accessing SGXNET services
      144 words
    • Article
      Lock icon US economy shrinks staggering 6.2 per cent
      409 5 AP, Bloomberg LATEST US DATA Q4 contraction is worst in 25 years Washington Washington THE US economy contracted at a staggering 6.2 per cent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending,
      AP, Bloomberg  -  409 words
    • Article
      Lock icon Bonus cap may drain UK's banking talent: poll
      293 5 Reuters Half will consider leaving country London London HALF of British bankers would consider leaving the country if a cap were put on their cash bonuses, a survey showed yesterday. The poll by jobs website eFinancialCareers.com found that 49 per cent of
      Reuters  -  293 words
    • Article, Illustration
      Lock icon Japan's Jan factory output dives 1Opc
      567 5  -  Anthony Rowley By btworld@sph.com.sg Tokyo JAPAN'S economy continued to be hammered by bad news yesterday, as it was announced that the nation's industrial output slumped by a record 10 per cent in January compared with the preceding month. This reflected the record crash in
      REUTERS  -  567 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Lock icon Page 2 Miscellaneous Column 1
      75 2 NEWS LIVING Top stories 2-5 Dining L 2-4 Raffles Conversation 6,7 Shopping L 5-7 Week In Review 8 hi HtJtJffc; >^M From The Desk Of 9 Kf < }fl Companies 10-14 ilfcl Singapore 15-17 i^^S BL Letter From Abroad 18 World 19-22 Design L 8.9 Stocks Stats 23-27 Travel L
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Salesman psychiatrist
      2284 6  -  Josephine Chew WHAT is a man who once vowed never to enter the world of advertising doing at the helm of marketing and communications firm Grey Group? He "likes working with crazy people", and proudly counts himself as one of them. Sitting in a conference room nursing his
      ARTHUR LEE  -  2,284 words
    • Article
      Lock icon Raffles
      76 6 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
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK
      • Article, Illustration
        Lock icon PMETs will get more help: PM Lee
        87 7 PROFESSIONALS, managers, executives and technicians, who are often regarded as the "sandwiched" group that receives the least government help, are not forgotten in this economic downturn. More aid is on the way to help them stay in their jobs or find new ones
        AFP FILE PHOTO  -  87 words
      • Article
        Lock icon US stake in Citi may reach 40%
        67 7 WASHINGTON is in talks with Citigroup to convert its preferred shares in the bank to ordinary shares, a move that would severely dilute the stakes of other investors including the Government of Singapore Investment Corp. The plan could see the US government owning
        67 words
      • Article
        Lock icon Collapse of lender shocks Japan
        56 7 THE failure of medium- sized finance company SFCG, coupled with fears about Citigroup's fate, sent the Tokyo stock market plunging to near its lowest level since the collapse of the bubble economy on Monday. SFCG's bankruptcy has raised wider concerns over the health of the
        56 words
      • Article
        Lock icon Japan looks to prop up sinking stock market
        62 7 TOKYO may be forced to intervene in the collapsing stock market, Finance Minister Kaoru Yosano said on Tuesday after the benchmark Nikkei average fell by a further 1.5 per cent towards a 26-year low. Even the strong yen has begun to reverse
        62 words
      • Article
        Lock icon AIG may cede control of Asian 'jewel': sources
        62 7 AMERICAN International Group Inc may be willing to give up control of its prized Asian division, worth about US$2O billion, said sources. Advisers have signalled that the embattled US insurer would consider a bid for a majority stake in American International Assurance
        62 words
      • Article
        Lock icon Talk of accounting issues, margin calls hurts S-chips
        61 7 S-CHIPS tumbled in panic selling yesterday as market rumours of margin calls and accounting issues made the rounds, hurting market confidence. Of the hardest hit, China EnerSave plunged 33.3 per cent to one cent, Celestial NutriFoods slipped 17 per cent to 19.5
        61 words
      • Article
        Lock icon Japanese exports crash 46%, rattling yen
        47 7 JAPAN'S exports have plunged a staggering 46 per cent last month from January 2008, creating a 953 billion yen (Ssls billion) trade deficit. But some relief appeared to be in sight for battered exporters from a further fall in the yen.
        47 words
      • Article
        Lock icon Banks to muscle in on GE Money's turf
        42 7 FROM March 1, banks will get to muscle in on GE Moneys action: they're allowed to extend unsecured loans to individuals with an annual income of $20,000, down from a minimum of $30,000 now.
        42 words
      • Article
        Lock icon FibreChem auditors can't finalise books
        58 7 FIBRECHEM Technologies said yesterday that Ernst Young could not finalise an audit of its trade receivables and cash balances for the year ended Dec 31,2008. The company has appointed nTan Corporate Advisory as an independent investigator and financial adviser to look into the matter and
        58 words
      • Article
        Lock icon That shrinking feeling gets more acute
        72 7 SINGAPORE'S economy shrank 4.2 per cent in the fourth quarter, worse than the 3.7 per cent de- dine estimated last month, as financial services performed even more poorly than expected. The Ministry of Trade and Industry said that the financial sector contracted 8.1 per
        72 words
      • Article
        Lock icon Obama stares at eye-popping US$l.75 trillion Budget deficit
        71 7 US President Barack Obama yesterday projected a stunning US$l.75 trillion deficit this year, followed by US$l.l7 trillion in 2010, and warned that tough choices were needed to get US finances back in order. The Budget is equal to 12.3 per cent of
        71 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      213 7 CRYPTIC CROSSWORD ACROSS "i ~~J2 ~~J3 I[a 1^ I P 17 A lunatic capsized sailing 5 Support our Queen, 111 I 18 Dear dear! (8) 1? w' Se|?' I WR tari tari 23 Joint endeavour's consensus (9) B^~^ ?6 H rift VII 14 Cold boy getting dressed ~T~^ I 16
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      110 7 NEXT WEEK March 2-6, 2009 US DATA March 2 Jan personal income/spending Jan construction spending Feb ISM Index March 3 Jan pending home sales Feb auto sales Feb ISM services Fed Beige Book March 5 Jan factory orders March 6 Feb non-farm payrolls Feb unemployment rate Jan consumer credit EVENTS
      110 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Three things about this economic crisis
      825 8 What the government, businesses and individuals can do to keep their heads above water FROM THE DESK OF Kenny Yap Executive chairman and managing director Qian Hu IWILL bigger government eventually mean more bureaucracy? During this economic crisis, more and more countries came up
      ST FILE PHOTO  -  825 words
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  • COMPANIES
    • Article
      Lock icon Bears call the tune in February
      897 9  -  Lynette Khoo Banks, property counters, Reits and S-chips the hardest hit as market capitalisation of SGX stocks declines 6.7 pc in Feb By lynkhoo@sph.com.sg Singapore BEARS called the tune again in February, bringing market caps down further as the earnings reporting season unveiled more
      897 words
    • Article, Illustration
      Lock icon You can take this to the bank – the worst is yet to come
      607 9  - You can take this to the bank the worst is yet to come Siow Li Sen COMMENTARY lisen@sph.com.sg Senior correspondent THE drop in 2008 profits of the three local banks was no surprise. After all, the banks' performances have always reflected the domestic economy, given that some 70 per cent
      607 words
    • Article, Illustration
      Lock icon Wilmar profit up by more than half for Q4
      498 10  -  Chew Xiang Results helped by tax writeback from overprovision for previous quarters By xchew@sph.com.sg Singapore PALM oil giant Wilmar International yesterday announced strong annual results, including a 59.7 per cent jump in fourthquarter net profit to U*****.6 million. But chairman and
      498 words
    • Article
      Lock icon Thai Beverage profit dips 3pc to 10b baht
      391 10  -  Nisha Ramchandani By nishar@sph.com.sg Singapore THAI Beverage Public, Thailand's largest brewer and distiller, has posted a 3 per cent dip in net profit for the full year ended Dec 31, 2008, to 10.34 billion baht (***** million). Revenue for the year came
      391 words
    • Article
      Lock icon Writedowns hit palm oil businesses in Q4
      645 10  -  Oh Boon Ping By huwenbin@sph.com.sg Singapore PALM oil businesses took a big hit from writedowns in the fourth quarter of last year, but most remain positive about their long-term prospects. Yesterday, Indofood Agri Resources reported a net loss of 757.6 billion rupiah (5596.5
      645 words
    • Article, Illustration
      Lock icon As always, it's all about Wall Street
      577 11  -  R Sivanithy STOCKS sivan@sph.com.sg Senior correspondent THINGS did not look good for Wall Street overnight, judging by trading here yesterday. The Straits Times Index (STI) plunged in the afternoon to close a net 22.57 points lower at 1,594.87 the worst finish since it
      577 words
    • Article
      Lock icon TOP 20 ACTIVES
      118 11 JIC 198,424 119 -2.0 -1.7 iolden 73,813 28.5 0.0 0.0 :hina Honi 60,664 10.5 -1.5 -12.5 48,516 198 4.0 -2.0 47,370 61 -11.0 -153 iini ;Tel 43,696 246 -12.0 -4.7 fafflesEdu 42,535 41.5 5.5 15.3 Tanscu Gi 32,810 17.5 -62.5 -78.1 29,728 16 -0.5 -3.0 Joble Grr
      118 words
    • Article
      Lock icon STI STOCKS
      99 11 :apitaLand 1.980 -0.040 ]apitaMall 1.430 +0.020 :if 'Dev 4.800 -0.100 ]osco Con 0.720 -0.030 IBS Gn 7.840 -0.200 :&N 2.280 -0.020 lent Intl 0.420 iolden Ai ;ri 0.285 IK Land 2.080 +0.030 IMH 17.300 +0.200 ISH 9.100 +0.290 lardine C&C 8.840 -0.510 lei Con 4.370 +0.070 Land 1.300
      99 words
    • Article
      Lock icon TOP GAINERS
      50 11 CLOSE UP iBXTS&P Short 10US$ 8762 342.6 2.( iUE 1250 50.0 4.: ISH 910 44.8 3.: IMH 1730 30.9 i.: 'ilmar 288 16.0 5.' 'ri-M 85 15.0 21.. <or Cmdi 10US$ 206 13.9 4.( Ireat Eastern 795 12.0 1.! >ai 445 10.8 l.i ;lec Eltek 96 9.3 6/
      50 words
    • Article
      Lock icon TOP LOSERS
      58 11 CLOSEDOWN IOB 5%NCPS 100 9622.0 -72.0 -o: 'ranscu Gn 17.5 -62.5 -78.' lardine C&C 884 -51.0 -5.! )CBC Bk 5.1%NCPS 100 9320 -40.0 -0.. IOB 999 -37.0 -3.( ir China H 10US$ 895 -23.2 -1.1 iBS Bk6% NCPS 10 9830 -20.0 -o.: iBS Gn 784 -20.0 -2.! setan
      58 words
    • Article, Illustration
      Lock icon Noble unveils bid to thwart Gloucester merger plan
      468 11 Reuters Perth COMMODITIES trader Noble Group Ltd has launched a takeover bid for Australia's Gloucester Coal Ltd, valuing the miner at nearly As4oo million (*****.7 million), looking to thwart Gloucester's planned merger with Whitehaven Coal. Noble's salvo comes just a week after
      Reuters; BLOOMBERG  -  468 words
    • Article, Illustration
      Lock icon Yongnam net profit rises 38.1 pc
      340 12  -  Arthur Sim Revenue from Singapore business grows 43.2 per cent to $155.7 m By simska@sph.com.sg Singapore YONGNAM Holdings has reported a net profit of $33.94 million for the full year ended Dec 31, 2008, up 38.1 per cent from $24.57 million the preceding year.
      340 words
    • Business briefing
      • Article
        Lock icon APB's Hatay Brewery gets new GM
        109 12 ASIA Pacific Breweries Ltd (APB) has appointed Larry Lee Chio Lim as general manager of its wholly owned subsidiary in Vietnam, Hatay Brewery Limited, from March 1. Mr Lee is a 20-year veteran of the beer industry and was with APB from 1989 to
        109 words
      • Article
        Lock icon Tiger Airways sells seats between Jakarta and S'pore
        58 12 TIGER Airways yesterday started selling seats between Jakarta and Singapore for $38, inclusive of taxes and charges, with a boutique service named Harimau Service. This means passengers will get priority boarding, refreshment on board, hot meals, beverages and an inflight magazine. Tiger
        58 words
      • Article
        Lock icon Qantas starting new route to Mumbai via Singapore
        86 12 QANTAS is starting new Austra-lia-Mumbai services from June 2, transiting via Changi. QFSI, originating in Brisbane, will operate from Singapore to Mumbai on Tuesdays, Thurs- days and Saturdays. The return QFS2 service from Mumbai will operate on Wednesdays, Fridays and Sundays. In
        86 words
      • Article
        Lock icon Super Coffeemix posts 14% fall in profit
        68 12 SUPPER Coffeemix posted a 14 per cent decline in its net profit for the year ended Dec 31, 2008 to $25.14 million, as higher costs outpaced revenue growth. Revenue for the year grew 18 per cent to $300.2 million, thanks to higher demand
        68 words
      • Article
        Lock icon Celestial NutriFoods Q4 profit falls 26%
        77 12 CELESTIAL NutriFoods saw a 26.1 per cent fall in its net profit for the fourth quarter ended Dec 31, 2008, to 96.88 million yuan (5521.77 million), as higher costs of sales and expenses eroded sales growth. Group revenue during the quarter grew 1.9 per
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    • Article
      Lock icon Flextronics downsizes S'pore operations
      305 12  -  Winston Chai By! winstonc@sph.com.sg Singapore CONTRACT manufacturer Flextronics International is cutting hundreds of jobs in Singapore as demand for electronics equipment continues to shrink. BT understands that 280 jobs are being cut at its Woodlands Terrace plant and that numbers at its Changi South Lane, Joo
      305 words
    • Article, Illustration
      Lock icon Jardine C&C net profit rises 32pc
      597 13  -  Samuel Ec USs44B.2m gain due mainly to good performance of Indonesian subsidiary By samuelee@sph.com.sg JARDINE Cycle Carriage's net profit rose 32 per cent to U*****.2 million for the full year ended Dec 31, 2008, mainly on the good performance of its Indonesian subsidiary Astra's
      AP  -  597 words
    • Article
      Lock icon At a glance
      303 13 Notes: Net Profit refers to profit attributable to equity holders. Exchange Rate: US$l =Ssl.439 > AUsl=Sso.997 > Rmbl=Sso.2ll&Rup=Sso.oool3. nm- not meaningful COMPANY NET PROFIT (S$IU) CURRENT PREVIOUS %CHNG I TURNOVER (S$IU) CURRENT PREVIOUS %CHNG I NET PROFIT (S$M) I CURRENT PREVIOUS CHNG I TURNOVER (s$IUl) CURRENT PREVIOUS
      303 words
    • Article
      Lock icon Advance Modules liquidating M'sian unit
      326 13  -  Lynette Khoo By lynkhoo@sph.com.sg ADVANCE Modules Group has decided to liquidate its wholly owned Malaysian subsidiary, Advance Modules Sdn Bhd (AMSB), following a review of its affairs by the unit's directors. The subsidiary's directors "have formed the opinion that AMSB cannot by reason of its
      326 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon Hotel rates up, occupancy down during F1 period
      513 14  -  Nisha Ramchandani $168 m chalked up in incremental tourism receipts from over 100,000 spectators, of which some 40 per cent were tourists By nishar@sph.com.sg And given the ailing tourism industry, the Fl hotel levy which required trackside and non-trackside hotels to fork
      FILE PHOTO  -  513 words
    • Article
      Lock icon Women think better of their status, pay
      353 14  -  Nisha Ramchandani By nishar@sph.com.sg THE socio-economic standing of Singaporean women appears to have improved, a survey has found. According to the latest MasterCard Worldwide Index of Women's Advancement, a higher proportion of women believe they are in managerial positions. The figure is 86
      353 words
    • Article
      Lock icon Police engage businesses in anti-terrorism efforts
      222 14 THE business community can play a "significant role" in protecting Singapore against terrorism, Deputy Prime Minister and Home Affairs Minister Wong Kan Seng said yesterday. Speaking at the National Security Briefing, he noted that counter-terrorism measures are not a priority for many businesses. But
      222 words
    • Article
      Lock icon Services sector receipts fall 1.3 pc in Q4
      351 15  -  Teh Shi Ning Decline due mainly to lower revenue from financial and insurance services, and recreational activities By tshining@sph.com.sg YET another indicator of weakness in Singapore's services sector has emerged, with yesterday's announcement that the business receipts index for services fell 1.3
      351 words
    • Article, Illustration
      Lock icon Standoff at the mall
      573 15  -  Uma Shankari By shankari@sph.com.sg IT is an old-fashioned stalemate in the retail industry. Retailers are saying that rent cuts of at least 20-30 per cent are an "absolute necessity" for them to survive, while landlords who have given no indications that they are looking at granting
      SAMUEL HE^HE STRAITS TIMES  -  573 words
    • Article
      Lock icon Thailand takes over chair of anti-piracy group
      486 15  -  Vincent Wee By vincewee@sph.com.sg SINGAPORE yesterday handed over to Thailand the chair of the governing council of ReCAAP, an Asia-focused anti-piracy grouping, having grown the platform into a respected force in the fight against piracy since its inauguration in 2006. The Information Sharing
      486 words
    • Article
      Lock icon Bigger caseload on the cards: CJ
      419 16  -  Chew Xiang Social workers, lawyers may be stationed in court By xchew@sph.com.sg SINGAPORE'S courts are likely to have to deal with an "influx" of cases for as long as the recession lasts, Chief Justice Chan Sek Keong said yesterday at a keynote address on
      419 words
    • Article
      Lock icon Infocomm sector gets $125m aid
      396 16  -  Victor Katheyas By victorpk@sph.com.sg THE infocomm sector has achieved steady growth and contributes about 6 per cent to gross domestic product (GDP), but "it is not recession-proof" and "we have to prepare for tough times ahead", Information, Communications and Arts Minister Lee Boon Yang said
      396 words
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  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      786 16 C 3 HI MTU HG METAL MANUFACTURING LIMITED (the "Company") (Incorporated in the Republic of Singapore on 4 August 1988) (Company Registration No. *****2660 D) ANNOUNCEMENT ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF WARRANTS PURSUANT TO THE PROPOSED RIGHTS ISSUE OF SHARES Unless otherwise defined, all terms and references
      786 words
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  • LETTER FROM ABROAD WITH ASCOTT
    • Letter, Illustration
      Lock icon Labour of love and hope
      744 17  -  David Chang LETTER FROM JAKARTA Equity analyst We invite Singaporeans living overseas or posted abroad to write about life, culture and doing business where you are. Send your dispatch to btletter@sph.com.sg along with a photo of yourself, as well as any other relevant images. "YOU
      AP  -  744 words
  • Page 17 Advertisements
    • Advertisement
      Lock icon Page 17 Advertisements Column 1
      204 17 SOMERSET SERI BUKIT CEYLON "TT m 2009 F1 WEEKEND PIT STOP promotion rates Located in Kuala Lumpur's Golden Triangle, the prime business district, \/I\/D /""V* ill Somerset Seri Bukit Ceylon defines city living at its best. Shopping, entertainment /Vl YIX I II I K^^B and great eateries are right at
      204 words
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      Lock icon Page 17 Advertisements Column 2
      15 17 THE ASCOTT GROUP A Member of Capita Land This series is brought toyou by TheAscottGroup
      15 words
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  • WORLD
    • Article
      Lock icon Malaysia ekes out 0.1 pc growth in Q4
      619 18  -  Pauline Ng Manufacturing sector shrinks 9 pc after expanding for 26 quarters; private consumption plummets By btworld@sph.com.sg Kuala Lumpur MALAYSIA'S economy grew just 0.1 per cent in the fourth quarter of 2008 a clear indication that a contraction this quarter is unavoidable.
      619 words
    • Article
      Lock icon India economy grows at slowest pace since 2003
      257 18 Bloomberg New Delhi INDIA'S economy grew at the slowest pace since 2003 last quarter, adding pressure on the central bank to slash interest rates and support investment and consumption. Asia's third-largest economy expanded 5.3 per cent in the three months to Dec
      Bloomberg  -  257 words
    • Article
      Lock icon Maybank in RM6b rights issue
      416 19 Reuters The bank says the rights offering was aimed at strengthening its capital base Kuala Lumpur MALAYSIA'S biggest lender, Malayan Banking Bhd, will issue right shares worth RM6 billion (552.5 billion), it said yesterday, after reporting a slight increase in second quarter net profit. The
      . Reuters  -  416 words
    • Article, Illustration
      Lock icon London City Hall landlord in default on £670m of loans
      442 19 Bloomberg London THE global financial crisis has come to London Mayor Boris Johnson's doorstep. The mortgage on the egg-shaped glass building on the Thames River where London's City Hall has its offices is in default, a victim of the falling
      Bloomberg; REUTERS  -  442 words
    • Article
      Lock icon Citigroup to revamp board of directors
      234 19 AP, Bloomberg New York TROUBLED US banking giant Citigroup will reshape its board of directors, Richard Parsons, the bank's chairman, said in a statement yesterday. The board, which currently has 15 members, will have a majority of new independent directors as soon as possible,
      AP, | Bloomberg  -  234 words
    • Article
      Lock icon Japan pension fund posts record 5.7t yen loss
      434 20 Reuters It was the GPIF's biggest quarterly loss since the fund started investing in markets in 2001 Tokyo HURT by a surge in the yen and stock market declines, Japan's public pension fund yesterday reported a record 5.7 trillion yen (SsB9 billion)
      Reuters  -  434 words
    • Article
      Lock icon UK mulls legal action to claw back ex RBS chiefs pension
      256 20 Reuters London BRITISH Prime Minister Gordon Brown ramped up the pressure on former Royal Bank of Scotland (RBS) chief Fred Goodwin yesterday, saying legal action may be used to claw back some of Mr Goodwin's multi-million-pound pension. Speaking to
      Reuters  -  256 words
    • Article, Illustration
      Lock icon AIG, US govt discuss aid terms
      249 20 Reuters New York/Hong Kong THE US government may agree to finance the purchase of some American International Group (AIG) businesses and take direct stakes in others, a person familiar with the matter said on Thursday. The wide range of options under discussion between the
      Reuters; REUTERS  -  249 words
    • Article, Illustration
      Lock icon Yahoo unveils revamp plan to make itself faster
      529 21 Reuters It'll simplify management structure and divide the world into two regions instead of four San Francisco YAHOO Inc chief executive Carol Bartz on Thursday took the wraps off a broad reorganisation plan designed to dismantle what she called the "silos" that
      Reuters; AP  -  529 words
    • Article
      Lock icon Fannie looks to government after loss
      301 21 Reuters New York FANNIE Mac, the government-control-led company seen by President Barack Obama as a key conduit to stabilise US housing, on Thursday reported a U5525.2 billion fourth-quarter loss, forcing it to draw capital from the Treasury. The housing finance giant said that it
      Reuters  -  301 words
    • Article
      Lock icon EU pushes on with law on buyout, hedge fund
      324 21 Bloomberg Brussels THE bid by buyout firms and hedge funds to head off regulation suffered a setback on Thursday, when the European Union said that it will press ahead with oversight plans. Financial Services commissioner Charlie McCreevy said that the EU's
      Bloomberg  -  324 words
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      Lock icon Page 18 Advertisements Column 1
      1030 18 w A MATS global voice GLOBAL VOICE GROUP LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****5625E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that the Extraordinary General Meeting of Global Voice Group Limited (the "Company") which was adjourned sine die on 4 December 2008, will
      1,030 words
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  • Page 20 Advertisements
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      185 20 >g^NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF TTECH INVESTMENT PTE. LTD. (IN MEMBERS'VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****4814N) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, in pursuant to Section 308 of the Companies Act, Cap 50, that a Final Meeting of the
      185 words
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      177 20 lover $5 MilMon Dollar Jewellery InventoryMUST BE LIQUIDATEdI I This property shall be offered at this one day auction. Items obtained from I I govt. auctions plus the addition of goods which constitute the majority. OVER 500 LOTS jff-" Dia 19 86ct Diamond Studs f": Sapphire 48.02ct. .*F ict.toJOct. BL'Si1'
      177 words
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  • SGX
    • Article
      Lock icon Transaction date: Feb 27
      8848 22 SZ-wks Tel High Low Code Company Last Sale Vol Cooo) Day Last Quote High Low Buyer Seller Div GrYld C'vr Net P/E M Cap Smil 9 3 3148 8Telecom 12 3 5834 A-Sonic 110 100 6389 ABF SG Bond ETF 30.5 12 5000 ABR Hldgs 19
      8,848 words
    • Article
      Lock icon SGX CATALIST
      1484 25 High Low Code Company Sale ('000) High Low Buyer Seller C'vr P/E Smil !0 5 1181 s AAGrp !2 13 8538 t APStrategic 1 1501 s Advanced System _4 2 3480 t Adventus !9.5 10.5 3518 s Afor 9 2.7 1524 s Alantac >.O 3.5 7814 s Albedo
      1,484 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      48 25 Up Down Unch 4 6 5 Up Down Unch OOP Up Down Unch 4 6 5 lulti Ind Tarufl |-acturin; .ommerce -inance ,onst :rud :ion Tfo\ jerties iQtel Sts~ >ervices led m TateF lininj larr Active counters with no volume for todaj are not included.
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      172 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum
      172 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      785 25 For week beginning Feb 23 Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per Shr$ SHAREHOLDING Before After ('000) ('000) Stock L C Dev 25-Feb-09 Beverian Hldgs L C Dev 25-Feb-09 David Lum Kok Seng Medi-Flex 25-Feb-09 Foong Daw Ching Freight
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  • STOCK MARKETS
    • Article, Illustration
      Lock icon Straits Times Index
      20 26 YTD change: -9.46% 52-week high: 3,269.88 on May 5,2008 52-week low: 1,473.77 on Oct 28,2008 Source: Bloomberg
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      Lock icon Hang Seng Index
      19 26 Source: YTD change:-10.95% 52-week high: 26,387.30 on May 5,2008 52-week low: 10,676.20 on Oct 27,2008 Bloomberg
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    • Article, Illustration
      Lock icon Dow Jones Industrial Average
      25 26 YTD change:-18.17% 52-week high: 13,136.60 on May 19,2008 52-week low: 7,105.94 on Feb 23,2009 (Chart shows Thursday's index closing) Source: Bloomberg
      : Bloomberg  -  25 words
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      Lock icon Shanghai Stock Exchange Composite
      20 26 YTD change:+l4.4o% 52-week high: 4,472.15 on March 4,2008 52-week low: 1,664.92 on Oct 28,2008 Source: Bloomberg
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    • Article, Illustration
      Lock icon Nikkei 225
      18 26 YTD change:-14.57% 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 MORGAN STANLEY CAPITAL INT'! INDICES
      364 26 Feb 26 dy yr dy yr dy yr Index Change Change Change Change Change Change World Index Preliminai 586.0 1.0 -13.6 1.5 -10.6 1.1 -16.1 EAFE Preliminai 563.9 1.3 -13.1 1.7 -13.2 1.3 -18.6 Euroi Preliminai 788.4 2.1 -13.5 3.1 -13.3 2.6 -18.6 Pacific 472.1
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      144 26 feh2-\ :urrencies Bid >$/US$ to one unit of foreign currency: Australian dollar 0.9940 Offer Bid Offer 0.9951 0.6441 0.6446 :anadian dollar 1.2294 1.2300 0.7966 0.7967 iuro 1.9598 1.9611 1.2699 1.2703 IZ dollar 0.7794 0.7804 0.5050 0.5055 jterlini 2.1972 2.1987 1.4237 1.4242 IS dollar 1.5433 1.5438 >$/US$ to
      144 words
    • Article
      Lock icon LIFFE
      69 26 Feb 26|| 1 (£/tonne) Close I Prey Hij ILow dar09 1830 1825 1873/1823 day 09 1785 1797 1818/1775 lul 09 1752 1781 1790/1745 Sep 09 1730 1768 1775/1729 :OFFEE (US$/tonne) Close Pev High/Low 1ar09 1557 1565 1569/1545 lay 09 1572 1577 1584/1556 UGAR (US tonne) /hite Close Prey High/Low
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    • Article
      Lock icon CHICAGO BOT
      105 26 Feb 2c|| SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 09 869.25 878.00 889.50 858.00 May 09 868.50 880.00 891.00 858.00 Jul 09 873.25 885.00 895.25 863.25 Aug 09 866.50 877.00 887.25 858.75 SOYBEAN/OIL (60,000 lbs; usc/b) Close Previous High/Low Mar 09 31.64 31.90 32.30
      105 words
    • Article
      Lock icon OIL
      74 26 Feb 26| USS/barrel (FOB origin) Close Change Brent blend (1-Mth F) WTI (Near Mth) Dubai (1-Mth F) Tapis blend Minas 45.84 2.84 44.59 1.84 43.74 1.84 49.80 2.35 45.80 2.60 PRODUCT USS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 46.45 3.55 51.70 2.10 USS/barrel Opec Oil Basket Price 38.95
      74 words
    • Article
      Lock icon METALS
      71 26 Febzn GOLD ;us$/ oz Feb 27 Feb 25 Hong Kong unav 949.80 946.40 950.80 Feb 26 Feb 25 London 936.70 973.10 938.70 974.70 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 20.41 20.16 Source: UOB PLATINUM Lon (US$/oz) Feb 26 Close Previous PM Fix 1058.*****1.00 AM Fix 1045.*****0.00
      71 words
    • Article
      Lock icon PALM OIL
      61 26 Feb j\ lelivery fonth Opening Range Sett Price Av Price Low Vol Done Open Positioi Hi) i/lar 09 1913 \prO9 1886 i/lay 09 1865 lun 09 1850 Fotal o/p: ***** contracts 1938 1953 1910 1909 1932 1886 1895 1919 1862 1876 1900 1850 Turnover: ***** lots Market tone:
      61 words
    • Article
      Lock icon LONDON METALS
      76 26 Feb l\ Uuminium, 99.7% mrity (US$/tonne) Nickel -us: /tonne* Close Previous Close Previous Cash 3 months Tin (US$/Lonne' 9980.00 *****.00 9998.01 *****.01 :ash months 1329.75 1364.00 1307.00 1343.00 lopper, Grade A :us$; "onne) lash J months Cash 3 months *****.00 *****.00 Grade (US$/ I *****.01 I *****.01 >/tonne)
      76 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Why spare directors?
      850 27  -  Carl C Icahn LAT-WP By HE entirely preventable financial catastro- phe we have watched unfold over the past 18 months has many culprits: reckless executives who gambled with their company's futures, feckless regulators and somnambulant boards of directors. But while executives and regulators have justifiably taken heat
      LAT-WP; STOCK.XCHNG  -  850 words
    • Article, Illustration
      Lock icon Want to be rich? Try being rude to people
      719 27  -  Matthew Lynn Bloomberg By THERE are fewer ways to make quick money without much effort these days than there are investors in Royal Bank of Scotland Group pic. Investment banking? It will be broken for a generation. Hedge funds? You have
      Bloomberg  -  719 words
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  • Wealth
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      Lock icon Markets still in panic mode
      1007 28  -  Genevieve Cua Man Group advises against hugely piling into markets as deleveraging is not happening yet on the macro level By gen@sph.com.sg LOBAL growth will be shallow for the next two to three years, as deleveraging in the private sector has barely begun, says Thomas
      1,007 words
    • WEALTH INVESTING
      • Article
        Lock icon UOBAM launches 2-year bluechip equity fund
        576 28  -  Genevieve Cua By UOB Asset Management (UOBAM) has rolled out a new equity fund with a two-year holding period, to appeal to investors who believe that valuations today offer opportunities. The United Singapore Recovery Fund will invest in 12 to 15 bluechip Singapore shares.
        576 words
      • Article
        Lock icon brokers' take
        742 28  -  JAMIE LEE Sembcorp Industries Outperform CIMB-GK Securities Feb 27 Close $2.11 IN line: Q4 2008 core net profit of $128 million (-30 per cent y-o-y) was in line with our estimate and consensus. FY2OOB core net profit of $534 million (-4 per cent y-o-y) was 4 per cent
        742 words
      • Article, Illustration
        Lock icon For a change, read the good news
        992 29  -  Sani Hamid WEALTH INSIGHTS Recent events signal that the credit market is on the mend and the worst is behind us Director, wealth management (economy strategy) Financial Alliance I GET weird looks from people these days when they ask me what my call
        AFP  -  992 words
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        Lock icon Darker shadows hover over S-chips
        1428 30  -  Teh Hooi Ling SHOW ME THE MONEY FibreChem fiasco seems to have led companies to be more careful in their statements, especially numbers hooiling@sph.com.sg Senior correspondent LAST week in this column we asked the question: Is the cash really there, especially for the S-chips. As
        1,428 words
      • Article, Illustration
        Lock icon Do absolute-return funds hold promise?
        1011 31  -  Jane Bryant Quinn Analysts say they are less risky than all-stock funds, but don't produce positive returns in all kinds of markets By mmm"^A ATHER round, children, to hear about the investments you've been waiting for. They suggest that you might get positive returns in
        STOCK.XCHNG  -  1,011 words
    • WEALTH REAL ESTATE
      • Article, Illustration
        Lock icon Frasers' payment terms may hit Arsenal
        369 32  -  Uma Shankari Report says the club would find it difficult to repay its loans for Highbury Square development in time By shankari@sph.com.sg SINGAPORE developer Frasers Centrepoint, which has committed to buy more than 100 flats at the site of English football club Arsenal's old
        FILE PHOTO  -  369 words
      • Article
        Lock icon MND slashes development charge rates
        1176 33  -  Kalpana Rashiwala However, it leaves untouched DC rates for landed residential and industrial uses throughout Singapore By kalpana@sph.com.sg THE government yesterday announced bigger cuts to development charge (DC) rates, which are payable for enhancing the use of some sites, compared with the previous revision six
        1,176 words
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  • Page 32 Advertisements
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      296 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 The Alcove ~~Apt 02/02/2009 99 1324 ~~608 459* non-landed District 15 Queens Apt 02/02/2009 99 915 818 894 LANDED Districts Seaside Park
      296 words
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Dinner, anyone?
        1196 35  -  By Audrey Phoon Business parks are getting into the business of good dining too, as more corporate firms move into their premises. But how are the F&B tenants surviving after hours? IT USED to be that you could distinguish a business park and its tenants simply by appearances:
        YEN MENG Jlll\  -  1,196 words
      • Article, Illustration
        Lock icon What's worth a visit at the business parks
        578 36 (even if you don't live or work anywhere nearby) Smoochies 991 Garden Office 9918 Alexandra Road #01-10 S3 6276-7337 THIS could be the new Dempsey, if not for all the offices in the area. The area around Smoochies has a lovely, laidback
        578 words
    • SHOPPING
      • Article, Illustration
        Lock icon Back to classics
        930 37  -  Audrey Phoon The current economic climate has not deterred fine jewellers from opening new stores. BT Weekend looks at four luxury brands that believe customers still appreciate authentic jewellery of lasting value even in a recession Chanel [Opening on Monday] 391 Orchard Road, Ngee Ann City, #01-04
        YEN MENG JIIN  -  930 words
      • Article, Illustration
        Lock icon First Asian flagship store
        458 38  -  Melissa Lwee Chopard [Official opening on March 21] #01-03 Ngee Ann City IT may have been more than 30 years in the making, but as a testament to Singapore's flourishing jewellery market, Swiss watchmaker and jeweller Chopard has chosen to open its first Asian flagship store
        458 words
      • Article, Illustration
        Lock icon A name steeped in history
        470 38  -  Melissa Lwee Korloff [Opening later this year in lon Orchard] FOR a brand that is only 30 years old, Korloff has its roots steeped in ancient history. The French jewellery brand is the brainchild of Daniel Paillasseur, who owns one of the world's biggest cut
        470 words
      • Article, Illustration
        Lock icon Flower that blooms in tough times
        647 38  -  Cheah Ui-Hoon Flower Diamond Boutique #03-02, Ngee Ann City. S 6736-3380 BELINDA Chua opened Flower Diamond Boutique at Ngee Ann City in 1996. Not a good year to set up shop in Singapore's premier retail address, not when we know what happened in 1997.
        647 words
    • DESIGN
      • Article, Illustration
        Lock icon Upping the design ante
        1642 39  -  Geoffrey Eu THEY'RE not exactly new kids on the block, but two young design firms, based in Hong Kong and New York, are generating more than their fair share of positive buzz in the design world. Their F&B and hospitality industry spaces are notable departures from
        PHOTOS: AFSO; PHOTOS: AVROKO, BEDROCK  -  1,642 words
    • TRAVEL
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        Lock icon Addicted to Madrid
        1378 41  -  Emilyn Ang BIG IS BEAUTIFUL The sun-drenched Puerta del Sol (below), and the majestic Puerta de Alcala (right) which inspires reverence with its sheer scale and verbosity Get lost in the Prado or stroll back in time along The Art Walk, but be forewarned Madrid will haunt
        MUSEO NACIONAL CENTRO DE ARTE REINA SOFIA; , UNLESS OTHERWISE STATED, COURTESY OF NATIONAL TOURIST OFFICE OF SPAIN; DENISE TAN  -  1,378 words
    • GADGETS
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        Lock icon Join the digital revolution
        1075 42  -  Christopher Lim THINK of "Comes With Music" as a one-year buffet pass to access Singapore's Nokia Music Store. You can already buy individual songs ala carte from the Internet-only store, but "Comes With Music" allows you to enter that same store and download any song you
        1,075 words
    • HEALTH
      • Article, Illustration
        Lock icon Be still my beating heart
        1020 43  -  Cheah Ui-Hoon LOWERING the heart rate leads to a longer life, that's the talk. While that simplistic equation is still unproven, what doctors have recently found out is that lowering the heart rate for patients suffering coronary artery disease (CAD) does prevent angina and maybe
        1,020 words
    • SPORT
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        Lock icon Time to cut out the off-pitch theatrics
        564 44  -  Uma Shankari no holds barred shankari@sph.com.sg Correspondent LIVERPOOL fans (such as I) who sacrificed much-needed sleep to watch the Reds take on Spanish side Real Madrid in the wee hours of Thursday morning were thrilled with the outcome. Liverpool beat Real 1-0 in
        AFP  -  564 words
    • GOLF
      • Article, Illustration
        Lock icon Showdown at Tanah Merah
        1135 45  -  Justine Moss Next week's HSBC Women's Champions boasts one of the strongest female line-ups in Asia, with only three players missing from the world's top 40. By IT'S hard to believe that it has been a year since Lorena Ochoa and many of her fellow professionals
        REUTERS; AFP; ALBERT SIM^HE STRAITS TIMES; GETTY IMAGES  -  1,135 words
    • MOTORING
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        Lock icon Eco-friendly supercar
        342 46  -  Samuel Ec The Continental Supersports is Bentle/s first Flex Fuel performance car. By! THE supercar, that Bentley says will be its fastest and most powerful production model ever, now has a name Continental Supersports. Last month, the British carmaker teased the public with a photo of this extreme
        342 words
      • Article, Illustration
        Lock icon Refreshing alternative
        418 46  -  Samuel Ec The Grand C 4 Picasso 1.6T has that familiar Continental build quality and good handling. By JUST when it seemed like the Japanese have cornered the market for small-engined MPVs, along comes a French model. The Citroen Grand C 4 Picasso was first launched here nearly
        418 words
      • Article, Illustration
        Lock icon Bigger & better BikeAsia
        469 47  - Bigger better BikeAsia Samuel Ec More visitors are expected to attend this year's exhibition which the organiser says features larger and more dominating brands'. By THERE was no old-world glamour at the launch of Bike Asia 2009 yesterday. Instead of Sophia Loren, only the usual government officials were in attendance
        469 words
      • Article, Illustration
        Lock icon SPEED ACE FOR A DAY
        779 48  -  Samuel Ec The Audi Sportscar Experience provides hands-on driving experience on a race track. By SO you may have hit 150 kmh on the North-South Expressway without getting caught. But can you drive just as fast when not travelling in a straight line? One way
        779 words
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  • Page 40 Advertisements
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      Lock icon Page 40 Advertisements Column 1
      64 40 Performance ,-r^jSlfet BiffiJiffiififgffiffißtaiffiuf^^ V Motors Limited /T^A SSESmiini iffi ■BEE Cm Sb EDD SS JuSBS Sheer I pml.com.sg Driving Pleasure --—^V ;t Performance Motors Limited. Sime Darby Performance Centre, 303 Alexandra Road. Tel: 6319 0100. Sime Darby Centre, 896 Dunearn Road. Tel: 6319 0500. East Coast Centre, 280 Kampong Arang
      64 words
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  • Page 44 Advertisements
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      692 44 Wine^Cline withßTWeekend Pine Court Chinese Restaurant Joel Robuchon in Paris, Troisgros in Roanne Marina Mandarin Singapore S 6826-8240 Level 35, Orchard Wing and Le Jardin dcs Sens in Montpellier, this 6 Raffles Boulevard, Marina Square Global Kitchen (Level 3) Meritus Mandarin Singapore former right-hand man to the Michelin star Peach
      692 words
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