The Business Times, 13 March 2009

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg mm A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 197/08/2008 Friday, March 13,2009
    23 words
  • 724 1  -  SIOW LI SEN Regulator proposes wider powers to rap culprits, help investors get compensation By [SINGAPORE] The Monetary Authority of Singapore (MAS) is seeking more muscle to prosecute errant financial institutions (Fls). Investors can then ride on the coat-tails of successful prosecution to
    724 words
  • 925 1  -  LYNETTE KHOO OH BOON PING Oriental Century CEO 'cooked books'; biggest shareholder Raffles Education awaits inquiry result By 1 and [SINGAPORE] In a stunning disclosure yesterday, Catal-ist-listed Oriental Century which is 29.9 per cent owned by the Raffles Education group acknowledged that its chairman and
    925 words
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    • 75 1 8 *****1 *****4 DAZZLING Dubai It may not have escaped the wrath of the credit crunch but Dubai's reputation as the Persian Gulf's go-to leisure destination has been relatively unscathed. Visitors who flock there for the duty-free shopping, the sports and the sun are pleasantly surprised to find more deals
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  • Page 1 Miscellaneous

  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 79 2 THE Monetary Authority of Singapore is seeking more muscle to prosecute errant financial institutions. Investors can then ride on the coat-tails of successful prosecution to get compensation. The regulator yesterday said it is proposing additional powers under the Financial Advisers Act including
        79 words
      • 67 2 IN a stunning disclosure yesterday, Catalist-listed Oriental Century which is 29.9 per cent owned by the Raffles Education group acknowledged that its chairman and CEO Wang Yuean had admitted cooking the books for years and diverting money to an interested party. The fresh accounting
        67 words
      • 40 2 US TREASURY Secretary Timothy Geithner, repeating congressional testimony he gave last week, said the Obama administration is "determined" to cut the federal budget deficit by half in four years. TOP STORIES, PAGE 2
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      • 107 2 THE entire 32nd floor of Suntec City Tower 1 has been sold for about $1,300 per square foot of strata area, which is about 40 per cent lower than what strata floors in the development were fetching about seven or eight months ago.
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      • 56 2 SINO-ENVIRONMENT Technology said its convertible bondholders have agreed to refrain from seeking early redemptions until certain information they are seeking from the company is provided to them. Despite this assurance, the counter still nosedived yesterday when it resumed trading, plummeting 73 per cent to
        56 words
      • 67 2 TRANSPORT operators ComfortDelGro Corporation and SMRT Corporation will replace property counters Keppel Land and Yanlord Land Group in the Straits Times Index from March 23. This follows the latest half-yearly review of the index component stocks, said a joint statement yesterday from FTSE
        67 words
      • 82 2 THE government is committed to the Jurong Rock Cavern oil and petrochemical storage project and is looking at other creative solutions like floating oil storage to alleviate the land shortage on Jurong Island, Senior Minister of State for Trade and Industry S Iswaran
        82 words
      • 80 2 MALAYSIA'S industrial output continued its sharp deceleration in January, the pace of its output falling by 20 per cent from a year ago after stumbling 16 per cent in December. The poor start to 2009 was led by steep falls in the
        80 words
    • 649 2 Bloomberg He urges G-20 leaders to take forceful action to end financial crisis [WASHINGTON] US Treasury Secretary Timothy Geithner, repeating congressional testimony that he gave last week, said that the Obama administration is "determined" to cut the federal budget deficit by half
      – Bloomberg  -  649 words
    • 664 2  -  UMA SHANKARI By [SINGAPORE] The world's richest people have got poorer -just like the rest of us. The number of billionaires in Forbes magazine's annual ranking has plunged 30 per cent. The world has just 793 billionaires now, down from 1,125 a
      664 words
    • 441 2  -  WINSTON CHAI By [SINGAPORE] Local authorities will expand their war chest for funding media initiatives to $250 million this year and aim to create 2,000 new jobs from new projects. The 2009 budget marks a 37 per cent increase from last year and will
      441 words
    • 792 3  -  KALPANA RASHIWALA As prices drop sharply from peak, investors may return to pick up bargains By [SINGAPORE] The entire 32nd floor of Suntec City Tower 1 has been sold for about $1,300 per square foot of strata area, which is about 40 per
      792 words
    • 461 3  -  GENEVIEVE CUA Industry blames dubious claims for last year's $214 m loss By [SINGAPORE] Motor insurance chalked up its largest-ever loss last year of $214 million, and motorists should brace themselves for yet more premium hikes, say officials of General Insurance Association (GIA).
      461 words
    • MARKETS DIGEST
      • 29 3 Bloomberg SINGAPORE 5.38 MALAYSIA 5.53 HONG KONG 5.00 INDONESIA 16.319 TAIWAN 4.826 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.50 SWITZERLAND 0.52 INDIA 12.25 Source:
        Bloomberg  -  29 words
      • 47 3 lursi lay lange 1COMP 838.39 -11.98 IIKKEI225 7,198.25 -177.87 1ANG SENG 12,001.53 +70.87 ;et index 415.04 +0.63 JAKARTA COM P 1,310.41 -4.1 IANILACOMP 1,879.67 -21.75 ;eoulcomp 1,128.39 +0.88 ;henzhen b 318.08 -0.38 IUMBAI IND 8,343.75 +183.35 12 noon EST Cham )OW 7,028.60 +98.20 IASDAQ 1,389.97 +18.33
        47 words
      • 44 3 IS$ (S$ per US$) 1.534 (US$/S$ per 1.382 2.120 ;URO (US$/S$/E) 1.276 1.957 Foreign currency per US$ S$ 'EN 96.40 62.80 3.694 2.408 IK$ 7.755 5.055 !AHT 36.04 23.49 lUPIAH 11,990 7,816 lENMINBI 6.839 4.458 INDIAN RUPEE 51.73 33.72 1.554 1.013 1.968 1.283
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 598 4  -  OH BOON PING THE accounting scandal at Oriental Century Ltd has undoubtedly struck a blow at Raffles Education, which owns a 29.9 per cent stake in the Chi-na-based education provider. Oriental Century shocked the market yesterday when it said its chairman and
      598 words
    • 307 4  -  UMA SHANKARI By UOL Group and Kheng Leong sold about 70 units of their new Simei condominium Double Bay Residences over the past weekend fewer than what it was aiming for, sources said. UOL said last Friday after it sold
      307 words
    • 418 4  -  LYNETTE KHOO For now, they are seeking information on group, chairman By SINO-ENVIRONMENT Technology said that its convertible bondholders have agreed to refrain from seeking early redemptions until certain information they are seeking from the company is provided to them. But the counter still nose-dived
      418 words
    • 321 4  -  TEH SHI NING By SINGAPORE Press Holdings (SPH) yesterday announced staff pay cuts and reductions in profit-related bonuses that are expected to lower the wage bill for its core businesses by about 20 per cent. "The move is the
      321 words
    • 299 4  -  JOYCE HOOI By CHARTERED Semiconductor Manufacturing has moved to assure the Securities Investors Association of Singapore (SIAS) that its US$3OO million rights issue is a sound move. At Chartered's request, Chartered chief executive Chia Song Hwee met SIAS president David Gerald yesterday. "SIAS
      299 words
    • 413 4  -  LYNETTE KHOO By I BEAUTY China has been slapped with a statutory demand from its syndicated lenders to repay the entire principal and interest outstanding on a loan of HK$l34 million (5526.54 million). The deadline is March 27, and "a failure to successfully
      413 words
    • 193 4  -  ARTHUR SIM By ORCHARD Road mall Wisma Atria will mark Earth Hour 2009 on March 28 by switching off its facade lights for an hour from 830 pm, along with several other malls nearby. Wisma Atria's majority stakeholder Starhill Global Reit, which is owned
      193 words
    • 399 5  -  VINCENT WEE By OFFSHORE services company Swiber Holdings provided some relief to shareholders with the confirmation that its two delayed offshore construction vessels have been delivered and are being put to work. The expanded fleet puts Swiber in a strong position to service
      399 words
    • COMPANY BRIEFS
      • 62 5 KEPPEL Land said yesterday that it was not involved in 10 real estate projects in Tianjin city's Nankai District as reported by China Knowledge Press. Citing sources, the March 11 report said that Keppel unit Tianjin Eco-city Investment Development would be developing the
        62 words
      • 94 5 FERROCHINA Ltd, the indebted Chinese steelmaker that has halted production, said yesterday that its chief financial officer Soh Wai Kong has quit to seek "other career opportunities". Mr Soh, 40, joined the company as chief financial officer in late 2007. No other details were available. In a
        94 words
      • 48 5 Reuters [NEW DELHI] Bharti Airtel chief executive Manoj Kohli said yesterday that he had sold his shares in the firm for personal reasons, but still had 180,000 options and would remain as CEO and joint managing director of India's top mobile operator.
        ■ Reuters  -  48 words
    • 290 5  -  LIEWAIQING Q2 profit plunges due to one-time items a year ago By XPRESS Holdings, a provider of integrated printing solutions, emerged from a challenging second quarter with a net profit of $486,000. For the three months ended Janl, 2009,
      290 words
    • 349 5  -  JAMIE LEE They replace property counters Keppel Land and Yanlord Land Group ByJ TRANSPORT operators ComfortDelGro Corporation and SMRT Corporation will replace property counters Keppel Land and Yanlord Land Group in the Straits Times Index (STI). This follows the latest half-yearly review of the index
      349 words
    • 185 5  -  ZEINAB YUSUF By CRUDE palm oil and palm kernel oil producer Kencana Agri is not letting the economic downturn get in the way of its growth plans. Instead, the company said yesterday it was pushing ahead during the slowdown to position itself for the economic
      185 words
  • Page 4 Advertisements
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  • Page 5 Advertisements
    • 95 5 wouldn't it be great if you could access your own money anywhere in the world? K'^&l^^W^^ 9°with your own money'when you use your Visa Debit card to make *^^F^^^^^^^^§i^^^^^*7^^ payments or withdraw cash overseas, the amount is deducted directly from your bank account back home, so now you can go
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  • SINGAPORE MARKETS
    • 588 6  -  R SIVANITHY STOCKS NOT unexpectedly, the short-cove-ring-induced bear rally that saw the Straits Times Index bounce 48 points on Tuesday and Wednesday ahead of not after rises on Wall Street ran out of steam yesterday, with the index dropping 11.98 points
      : Bloomberg  -  588 words
    • 89 6 Up Down Unch Up Down Unch Up Down Unch lulti Ind 0 10 3 0 0 0 0 10 3 lanufacturing 24 78 54 27 85 61 Commerce 26 16 29 19 'pt/Stor/Comms 19 11 19 11 :inance 22 22 Construction 'roperties 22 11 22 11 lotels/Rsts
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    • 111 6 MAIN SDQ TOTAL MAIN SDQ TOTAL lulti Ind 11,279 11,279 28,264 28,264 lanufacturing 241,417 25,666 267,083 84,680 523 85,203 lommerce 65,018 5,964 70,982 41,221 499 41,720 'pt/Stor/Comms 59,088 124 59,212 82,557 14 82,571 :i nance 31,724 31,724 151,408 151,408 lonstruction 27,919 1,444 29,363 1,248 1,257 'roperties 155,256
      111 words
    • 103 6 lapitaLand 1.960 +0.030 lapitaMall 0.980 -0.070 jtyDev 4.480 +0.120 losco Corp 0.690 -0.015 IBS Grp 6.900 :&N 2.050 +0.060 ient Intl 0.425 -0.010 iolden Agri 0.265 -0.005 IK Land 2.000 -0.040 IMH 16.920 +0.060 ISH 8.800 -0.200 lardineC&C 8.850 -0.240 Ceppel Corp 4.120 -0.130 Ceppel Land
      103 words
    • Article, Illustration
      908 6  -  LYNETTE KHOO 01am International March 12 close: $1.23 OCBC INVESTMENT RESEARCH, March 12 RESILIENT to recession: 01am International Ltd (01am) has been delivering consistent revenue and earnings growth since its listing in 2005, and growth momentum is expected to sustain despite the global recession. Management has guided for
      908 words
    • 549 6  -  LARRY WEE CURRENCIES WALL Street's rally extended for another session on Wednesday evening, after JP Morgan became the second bank in as many days to deliver an upbeat performance report. And as the risk aversion fears associated with falling US stock prices
      : Reuters  -  549 words
    • 4 6 DAILY
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    • 58 6 Mar 12 VALUE CLOSE IT OB/OS -784.00-110.0C IT CADI -*****.00-153.0i IT 10-day MA -*****.00 -78.0' TSE ST Mid Cap 294.02 -4.0. TSE ST Small Cap 236.76 -4.9i TSE ST All Share 355.22 -3.4! TSE ST China Top 134.37 -3.0: TSE ST China 129.49 -4.2. IOB Catalist 62.77
      58 words
    • 55 6 VOLUME China Honqxinq 79,105,000 CapitaMall R 78,250,000 Golden Aqri 68,305,000 RafflesEdu 55,986,000 Sino-Env 47,450,000 CapitaMall 42,135,000 Sunshine 35,145,000 Noble Grp 21,616,000 FM Hldq 21,302,000 UniFiber 17,030,000 VALUE(S) UOB 64,008,251 DBS Grp 43,931,020 CapitaMall 41,403,595 SingTel 37,808,191 CapitaLand 28,177,160 Noble Grp 21,737,700 Wilmar 20,552,450 OCBC Bk 19,518,770 Golden
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    • 104 6 CLOSE UP LP 10US$ 8996 144.1 1.1 DBXT S&P Short 10US$ 9102 116.5 0.8 UOB 5.05%NCPS 100 8960 58.0 0.7 :it 448 12.0 2.8 ilA.ES.0903 1002 12.0 1.2 ICBC Bk5.1%NCPS 100 9000 10.0 0.1 IMH 1692 9.2 0.4 :it r.ES.0903 448 9.0 2.1 Teative Tech 340 8.0 2.4 F&N
      104 words
    • 110 6 CLOSE DOWN ICBCCai i.93%Pref10 6980 -1220 -14.9 UOB.ES.0903 820 -40.0 -4.7 ISH 880 -30.7 -2.2 China H 10US$ 900 -30.7 -2.2 ;txpo 100 835 -29.0 -3.4 lardine C&C 885 -24.0 -2.6 Mala' ia 10US$ 431 -23.0 -3.4 Kej iLand.ES.0903 103 -22.0 -17.6 .ino-Env 8 -21.5 -72.9 UOB 827 -20.0
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    • 84 6 Mar 12 CHNG CLOSE FRMar11 YR SSLOW R 2008/2009 S$ HIGH USS 1.5305 0.67 1.5579 1.3457 Euro 1.9569 -0.20 2.2064 1.8640 Pounds 2.1110 0.11 2.8431 2.0356 0.9887 0.28 1.3251 0.9068 'en* 1.5915 -1.69 1.7278 1.2619 Rupiah* 0.***** 0.71 0.***** 0.***** Baht* 4.2573 0.48 4.4299 4.0190 Peso*
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  • GOURMET CHOICE AWARDS
    • 880 7  -  AUDREY PHOON BT-Citibank's Top 100 restaurants are picked by people who are well-travelled and well-heeled By THE president of Far East Food Concepts, Chia Boon Pin, will be stocking up on his choles-terol-lowering medication, no thanks to a new dining guide that lists the creme de
      JOHN HENG  -  880 words
  • Page 7 Advertisements
    • 129 7 www.vw.com.sg Did you notice the leopard? The new Passat CC. Once you've seen it, you'll see nothing else. It's no wonder why the Passat CC is attracting so much attention. With the style of a coupe, the dynamics of a sports car and the comfort of a saloon, this new
      129 words

  • SINGAPORE NEWS
    • 552 8  -  RONNIE LIM It is looking at other solutions to solve land shortage problem: Iswaran Reports by THE government is committed to the Jurong Rock Cavern (JRC) oil and petrochemical storage project and is looking at other creative solutions such as floating oil storage
      552 words
    • 423 8 THE government wants to make sure Singapore's Formula 1 Grand Prix remains one of the "must-see" races on the annual Formula 1 calendar, Senior Minister of State for Trade and Industry S Iswaran said yesterday. The Singapore Tourism Board (STB), race promoters
      FILE PHOTO  -  423 words
    • 542 8 It wants to be sure of overall picture first: Iswaran THE government will be better placed to give an update on how the economy is faring once there is greater clarity on the data, particularly for the first quarter, Senior Minister of
      542 words
    • 383 8 Top risks all closely related to global downturn: survey By TEH SHINING THE risk landscape facing insurers has changed dramatically, says the latest Insurance Banana Skins report. Investment performance, equity markets and capital availability have overtaken fears of over-reg-ulation and natural
      383 words
    • 236 8 THE Singapore Business Federation (SBF) will lead a delegation to Oman, Qatar and United Arab Emirates from March 13 to 24 in conjunction with a state visit by President S R Nathan. The mission will be led by SBF's chief executive and chairman
      236 words
    • 219 8 TWO Singaporean members of the Al-Qaeda-linked Jemaah Islamiyah (JI) terrorist network have been released from detention, with conditions and restrictions attached. On Jan 5, Mohamed Ellias and Ja'afar bin Mistooki were released on suspension directions under the Internal Security Act (ISA). In a
      219 words
    • 295 8 SINGAPORE has emerged as the highest-ranked country in Asia and the only Asian country in the world's top 10 in the third annual Travel and Tourism Competitiveness Report. Switzerland is ranked No 1 overall, followed by Austria and Germany in the
      YEN MENG JIIN  -  295 words

  • Page 9 Advertisements
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  • ECONOMY WATCH
    • 719 10  -  ANNA TEO Stimulus packages may erode ability to mitigate bigger long-term risks By [SINGAPORE] Beyond the ongoing economic crisis which at least should be a thing of the past by 2012 lurk some huge global risks that are here to stay, says
      719 words
    • 467 10 Reuters [ZURICH] Liechtenstein has agreed to ease its strict bank secrecy law by committing to OECD standards on tax transparency and data exchange, a fresh sign that a global crackdown on tax evasion is forcing offshore centres to open up. The tiny principality,
      Reuters  -  467 words
    • 331 10 AP, Bloomberg [WASHINGTON] Freddie Mac said on Wednesday that it will ask the government for nearly US$3l billion in additional aid after posting a gargantuan loss of more than US$5O billion last year as the US housing market worsened. The mortgage
      – AP, Bloomberg  -  331 words
  • Page 10 Advertisements
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  • MALAYSIA/INDONESIA
    • 447 11  -  PAULINE NG Electrical and electronics sector leads slide with 45% plunge By in Kuala Lumpur MALAYSIA'S industrial output continued its sharp deceleration in January, the pace of its output falling by 20 per cent from a year ago after stumbling 16 per
      REUTERS  -  447 words
    • 290 11 -AP [KUALA LUMPUR] The ruling party was rocked yesterday by a high-level investigation involving bribery allegations and a prominent minister preparing to run in a party election that will shape Malaysia's next administration. In a vaguely worded statement yesterday, the Tourism Ministry said
      -AP  -  290 words
    • 340 11 -AFP [JAKARTA] Indonesian President Susilo Bambang Yudhoyono's Democratic Party is leading its rivals ahead of elections next month, an analyst said yesterday, quoting a new opinion poll. The party, which the liberal ex-general founded in 2001, is on target to become the largest in
      -AFP  -  340 words
    • 483 11 Bloomberg Financial stocks hard hit by fears of more capital raisings [KUALA LUMPUR] Malayan Banking (Maybank), Malaysia's biggest bank, was set for its longest losing streak in 22 years on speculation bad debts will increase and capital-raising plans will erode earnings.
      – Bloomberg  -  483 words
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  • INDIA
    • 466 12 Bidders must show they have at least 15 billion rupees by March 20, it says [NEW DELHI] Suitors of scandal-tainted Satyam Computer Services were told to declare by yesterday if they might bid for the Indian outsourcing giant despite deep uncertainty over its finances.
      REUTERS  -  466 words
    • 257 12 Bloomberg [SINGAPORE] Indian computer services companies including Tata Consultancy Services are facing declining revenue as budget cuts, mergers and bankruptcy at their customers weigh on demand, Morgan Stanley said. Tata, Hexaware Technologies Ltd and Tech Mahindra Ltd were cut to "underweight" from
      – Bloomberg  -  257 words
    • 387 12 Reuters [NEW DELHI] India's factory output fell for the third time in four months in January, and with government and central bank steps to lift a sagging economy likely to take months to kick in further falls are expected. Industrial production fell 0.5
      – Reuters  -  387 words
  • Page 12 Advertisements
    • 305 12 1 I~T. J—/ -T IXXk3 1 Vj I\ LZi LZi l\ V/f k3X^Xvll>| VJ .Complimentary Irish tapas with any order of Guinness, Kilkenny or Black Velvet (March) Celebrate a bit o' Irish with St. Patrick's Day. From classic Irish dishes such as Colcannon and Irish stew to Guinness, Kilkenny and
      305 words

  • GREATER CHINA/INDIA
    • 404 13 But banks pumping more credit into economy as country battles downturn [BEIJING] China yesterday said factory output and retail sales were slowing, but banks were also pumping more credit into the economy as the country battles the global downturn. Industrial production grew
      404 words
    • 59 13 AFP [Bangalore] An Indian youth playing Holi, the "festival of colours" in Bangalore on Wednesday. The Holi festival is celebrated throughout India to mark the onset of spring, with people from all walks of life coming out on the streets and smearing coloured dyes and water
      AFP  -  59 words
    • 192 13 -AFP [BEIJING] China is looking to build a train line linking the mainland with Taiwan to boost trade ties between the two sides, the Chinese railways minister said in comments published yesterday. Liv Zhijun said that the government was "actively planning" the rail
      -AFP  -  192 words
    • 230 13 Reuters [BEIJING] Beijing has devolved authority for approving more foreign investment projects to local authorities, making it easier for foreign investors to set up shop in China, according to new rules published yesterday. The easing in regulations comes amid a slowdown in inflows
      ■ Reuters  -  230 words
    • 227 13 Reuters Regulator orders ratio to be set at 150% of bad loans [BEIJING] China's banking regulator has ordered the country's biggest banks to raise provisions to 150 per cent of bad loans currently on their books because of worries that asset quality may deteriorate
      Reuters  -  227 words
  • Page 13 Advertisements
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  • WORLD
    • 654 14 The 11 counts of fraud, perjury carry maximum sentences totalling 150 years [NEW YORK] Bernard Madoff pleaded guilty yesterday to all the charges against him in a vast Ponzi scheme that bilked investors out of billions of dollars. Standing before Judge Denny Chin in
      AP  -  654 words
    • 230 14  -  ZHANG Yl TING By [SINGAPORE] Kishore Mahbubani, dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, has been named by the Financial Times as one of 50 people whose vision and collective voice will drive the world
      230 words
    • 357 14  -  EMILYN YAP Region needs better cooperation, build up resilience: report By [SINGAPORE] Asian economies need to strengthen domestic demand and regional cooperation to build up resilience against future economic shocks, according to the Lee Kuan Yew School of Public Policy. The school yesterday
      357 words
    • 468 14 ■AP [TOKYO] Japan's economy shrank a bit less than first estimated in the fourth quarter, but the revised government data yesterday is hardly good news, serving only to underscore the increasingly grim picture for the world's second-largest economy. Export demand has collapsed, corporate
      ■AP  -  468 words
    • 416 14 -AP [HONG KONG] Exiled former Thai prime minister Thaksin Shinawatra said yesterday he was short on money, but that Thailand's move to freeze his assets may have helped safeguard his vast wealth from the financial crisis. Thaksin shed light on his life in
      -AP; REUTERS  -  416 words
    • 458 15 -Bloomberg Purchase of 44% stake approved by Genentech special committee [LONDON] Roche Holding, the world's biggest maker of cancer drugs, won an eight-month battle to buy the rest of partner Genentech by raising its offer a second time to US$46.B billion. Genentech holders will
      -Bloomberg  -  458 words
    • 49 15 AFP [CAPE CANAVERAL, Florida] The Space Shuttle Discovery STS-119 sitting on its launch pad with the moon providing an appropriate backdrop. NASA is making final preparations for the scheduled launch of the US vehicle on March 11 for a mission to the international space station.
      AFP  -  49 words
    • 505 15 Reuters SEC plans to issue proposal in April to restore uptick rule [WASHINGTON] The US Securities and Exchange Commission aims to issue a proposal in April to restore the so-called uptick rule and will look at other ways to address short-selling in the stock
      – Reuters; AP  -  505 words
    • 294 15 Reuters [NEW YORK] Veteran fund manager Mark Mobius sees a potential 20 per cent rise in emerging market stocks this year and views extreme investor pessimism as a signal to gradually start buying equities. "The danger we face now is being too
      Reuters  -  294 words
    • 356 15 Bloomberg [NEW YORK] Warren Buffett, who took a four-country tour of Europe less than a year ago in search of takeover targets, now says buying opportunities are presenting themselves in the US. With a smaller pot of money remaining to fund deals, prices
      – Bloomberg  -  356 words
  • Page 14 Advertisements
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      196 words

  • Page 15 Advertisements
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      2,330 words

  • EDITORIAL & OPINION
    • 498 16 SPEAKING at a Singapore Management University forum this week, Education Minister Ng Eng Hen made a telling observation: very rarely will government leaders speak openly of the need for a New World Order; yet recently, "a litany of such calls has occurred". Dr
      498 words
    • 1056 16  -  AWIE FOONG DEIRDRE LANDER Spore tops HK in many economic rankings but lags behind it in gender equality By and SINGAPORE and Hong Kong share many similarities. However, they are also close rivals in many areas. In recent years, Singapore appears
      FILE PHOTO  -  1,056 words
    • 783 16  -  VIVIANE REDING THE BOTTOM LINE DURING my many visits to Singapore in my capacity as European Union (EU) commissioner, I have always been struck by the numerous opportunities for the EU and Singapore to cooperate. Singapore is an important partner for Europe in
      783 words
    • 1104 17  -  SUPARNA KARMAKAR The country's domestic demand-led growth and large services exports may help it weather the downturn By FOLLOWING the US subprime mortgage crisis of 2007-2008, the world is now staggering from a financial to an economic crisis. The recession and consequent demand contraction
      AFP  -  1,104 words
    • 817 17  -  G PANICKER OPEC members may seem to be on the ropes, with oil down about US$lOO for a barrel from its peak. In the meantime, oil is sitting in tankers in anticipation of higher prices. Commercial storage in Cushing in the
      AFP  -  817 words


  • AVIATION/SHIPPING
    • 705 18 Bloomberg They may borrow 3t won to replenish capital as orders dry up, analysts say [HONG KONG] Hyundai Heavy Industries Co and two other South Korean shipyards may borrow about three trillion won (Ss3 billion), tapping the debt market for the first time
      – Bloomberg; REUTERS  -  705 words
    • 360 18 It could build special ships to carry carbon dioxide in 2 years [COPENHAGEN] AP MollerMaersk wants to expand into carbon dioxide transportation if capture and storage (CCS) technology becomes an important tool in cutting emissions, executives told Reuters on Wednesday. Maersk Tankers, a division of the
      360 words
    • 174 18 Bloomberg [NEW YORK] As many as half of the commodity carriers scheduled to be built are endangered as financing for construction is cut, Genco Shipping Trading Ltd chief financial officer John Wobensmith said. "A lot of the ships that are projected to be
      – Bloomberg  -  174 words
    • TRANSPORT STOCKS
      • 103 18 '000 lar CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KWentures Keppel Corp MTQ Corp NOL Pacific Shipping Pan-United Corp Rickmers Mari Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship 0.24 0.17 0.69 0.30 0.49 0.35 0.04
        103 words
      • 36 18 '000 Int'G Logistics MISCBhd MISC Foreign Msia Bulk Carrie NCB Holdings NeplineBhd PDZ Holdings 0.53 8.30 8.45 2.91 2.69 0.01 unch unch 0.10 0.15 -0.01 unch unch unch 56 34 943 731 53 358 0
        36 words
      • 7 18 '00 ■recious Ship 10.30 0.20 3473
        7 words
      • 6 18 '000 toil .17.10 -0.10 431
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      • 22 18 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 5.40 10.00 unch unch -0.10 unch unch unch 281 1297 0 0
        22 words
      • 22 18 Evergreen Marine ....13.60 :irst Steamship 38.55 ManHai Lines 13.95 r"ang Ming Marine 9.50 -0.15 0.15 -0.05 0.05 8 7 2 9
        22 words
      • 37 18 '000 :awasaki Hvylnd ..171.00 -12.00 ***** :awasaki Kisen 288.00 -9.00 5831 /litsubishi Hvy 270.00 -10.00 ***** /litsui Eng&Sbldg... 149.00 -1.00 6236 /litsui Osk Lines 469.00 -16.00 ***** Jippon Express 272.00 unch 2983 lipponYusen 364.00 -17.00 6717
        37 words
    • 447 18 Bloomberg [WASHINGTON] A US safety board issued an "urgent" recommendation calling for the re design of a Rolls-Royce Group pic engine component to prevent a loss of thrust in Boeing Co 7775. The recommendation by the National Transportation Safety Board (NTSB) follows
      – Bloomberg  -  447 words
    • 147 18 Reuters [LONDON] Malaysian airline Air Asia expects to expand its service and remain resilient this year, as it sees good demand for budget air travel despite the global recession putting a strain on the airline industry. The airline, along with long-haul associate Air Asia X,
      – Reuters  -  147 words
    • 2554 18 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), Al: Air India (AIC), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), Bl: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      2,554 words
  • Page 18 Advertisements
    • 153 18 SOUTH EASTASIAAND SOUTH ASIA/AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE BUSINESS PLAN 2009 FROM SOUTH EASTASIAAND SOUTH ASIATO AUSTRALIA As part of the Business Plan 2009, Member Lines of the South East Asia and South Asia Australia Trade Facilitation Agreement will implement a Rate Restoration of US$2OO.OO per TEU with
      153 words

  • SINGAPORE STOCKS
    • 8596 19 Transaction date: Mar 12 Hi! !-wks Tel Low Code Com| Sale Cooo) Hi: Low Bu] ?er Seller C'vr •k P/E Smil >ari] 9 3 3148 8Telecom 11 3 5834 A-Sonic 110 100 6389 ABFSG Bond ETF 30.5 12 5000 ABRHIdgs 18 6 1938 AEICorp 9.5 1 1100 AEM
      8,596 words
    • 1807 20 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
      1,807 words
    • 109 20 52-Wk Tel h Low Code Last Sale Vol COOP) .h^Low Last Quote Buyer Seller Div GrYld Net MCap C'vr P/E $mil _Hm Com _Hm 1830 1682 DBXT FTChina25 1OUS$ 945 850 DBXT MSTaiwan 1OUS$ 5244 5220 DBXT Nifty 1OUS$ 9613 8540 DBXT SSP Short 10US$ ***** ***** 6065
      109 words
    • 61 20 Hii Low Code Comi Sale COOP] Hii Low Bu; Seller C'vr P/E ,mil 84.5 20 6000 AVJennings 11 4 6134 Over&Gen 24.5 6 6017 StarCruises 248 103 6019 TanChonglnt A24.5 A8 US6.5 unch HK117cd unch 506 33 7 117 6 117 17 5 6 117 n 9 6.5
      61 words
    • 9200 20 UNIT TRUSTS FUNDS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!S 1.397/ AIGIF S'pore Bond Fund/A 1.187/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 0.63/ APS Alpha Fund (USD)!** 0.41/ APS Komaba Asset Mgt Pte Ltd APS Komaba Global Bond SGD 0.5118/ APS Komaba Global
      9,200 words
  • Page 19 Advertisements
    • 29 19 ii t±OS^A STILL IN EXCELLENT SHAPE ilv A/l_il T AIiAVkJ _l_ AvJxJAjA P-# I ;>(<;TT!;i-^rtTTT-!!- s})% m~i mJk *1 '=sg^sa. _^L HI For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com
      29 words


  • FINANCE & COMMODITIES
    • 367 21 In local curr In S$ In US$ dy yr dy yr dy yr Index Change Change Change Change Change Change Mar 11 World Index Preliminan 556.2 0.6 -17.9 0.4 -15.7 0.6 -20.7 EAFE Preliminai 541.2 1.2 -16.6 1.1 -17.4 1.3 -22.3 Euroi Preliminan 753.5 0.4
      367 words
    • 122 21 As at 9am Mar 12 Singapore dollars to one unit rf foreign currency: Currencies Bid Offer s,ust dollar 0.9880 1.0450 .an dollar 1.1810 1.1950 luro 1.9520 1.9740 IZ dollar 0.7770 0.7950 iterlini ind 2.1100 2.1350 JS dollar 1.5210 1.5390 .ocal dollars to 100 units if foreign
      122 words
    • 152 21 Mar 12 Xterniqht 1/8 -month 7/16 -months 9/16 l-months 11/16 Overnight mode: 0.15 IS$ Offer 1/16 3/16 5/16 7/16 BJd 1 days I month I months months d months months I I. (All 0.45 0.65 1.20 1.50 2.20 2.50 2.60 Offer 0.35 0.55 1 00 1.30 1.90 2.20
      152 words
    • 22 21 Mar 12 STI IIMSCI Mar 180.3 182.4 179.6 "aiwan Mar 180.0 180.2 178.9 Source: MF Global (S) He. Ltd
      22 words
    • 21 21 Mar 12 Bid Offer 1-month 1.5330 1.5345 2-months 1.5325 1.5342 3-months 1.5321 1.5339 6-months 1.5310 1.5329 Source: OCBC
      21 words
    • 59 21 Mar 12 lelivery flonth Opening Range Sett Av Price Price Hi Low Vol Open Done Position Vlar 09 2045 2023 2045 2000 90 tyrO9 2007 1968 2019 1962 752 May 09 1955 1920 1973 1909 8392 lun 09 1920 1880 1936 1871 2004 Total o/p: ***** contracts Turnover:
      59 words
    • 299 21 Mar 12 URODOLLAR FUTURES VlarO9 lunO9 >epO9 DecO9 98.6625 98.5950 98.5500 98.4050 5716 8737 4767 2633 EUROYEN TIBOR FUTURES VlarO9 99.310 99.315 lunO9 99.380 99.390 >epO9 DecO9 99.450 99.450 VlariO 99.430 99.430 lun10 iep10 DedO 99.310 99.380 99.435 99.430 99.315 99.390 99.440 99.445 99.430 99.370 99.310 99.265
      299 words
    • 182 21 Mar 12 tUBBER Futures (Closing prices) !SS 3 (US cents/kg) /lonth High Low Close Sett Volume (lots) O/l lots) \prO9 141.5 Way 09 lunO9 ul 09 \ug 09 >ep 09 139.0 139.2 139.2 139.2 137.5 137.0 137.0 142 947 796 857 1109 686 544 FSR 20 (US cents/kg)
      182 words
    • 86 21 Mar 12 'eriod Issue code Maturity Yesterday's Bid Hi< Day's |h Low 1-Month BQ*****Z 11.06.09 -Year BY*****V 02.11.09 0.28 0.41 3OVERNMENT BONDS >eriod Issue Coupon Maturity code rate Close Bid Hio Day's cjh Low !-Year N*****0E 3.125 i-Year NX*****Z 2.250 '-Year N*****0S 2.875 0-Year NY*****A 4.000 5-Year NY*****X
      86 words
    • 102 21 Mar 11 SOYBEANS (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low Mar 09 875.00 889.00 899.00 870.25 May 09 862.00 877.00 889.00 856.50 Jul 09 860.75 876.75 888.00 855.50 AugO9 849.50 865.50 874.00 845.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Mar 09 29.64 30.72 30.96 29.50
      102 words
    • 77 21 CRUDE OIL PRODUCTS Mar 11 CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 44.73 -1.78 WTI (Near Mth) 42.93 -2.78 Dubai (1-Mth F) 43.04 -0.53 Tapis blend 48.40 -0.70 Minas 44.70 -0.70 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 42.60 48.80 -0.40 0.55 US$/barrel Opec Oil
      77 words
    • 446 21 Mar 12 iuro 'en (on 'eso lam 'ouni Australia 0.832 4.400 0.504 4.990 33.282 77.150 0.620 9.628 2.377 1.266 51.663 31.227 0.987 6.550 0.746 22.191 23.190 0.466 0.643 Canada 1.202 5.291 0.607 6.000 40.019 92.766 0.746 11.576 2.858 1.523 62.120 37.547 1.187 7.876 0.897 26.682 27.884 0.560
      446 words
    • 68 21 Mar 12 mth 0.***** 0.***** mths 1.***** 0.***** mths 1.***** 0.***** mths 1.***** 0.***** mths 2.***** 0.***** 2 mths 2.***** 0.***** ;WAP Offer rates mth mths mths (S$) 0.***** 0.***** 1.***** 6 mths 1.***** 9mths 1.***** 12 mths 2.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs
      68 words
    • 149 21 Mar 12 Zurrencies Bid Offer Bid Offer >$/US$ to one unit of foreign currency: Australian dollar 0.9865 0.9876 0.6434 0.6435 Canadian dollar 1.1862 1.1875 0.7736 0.7738 luro 1.9557 1.9580 1.2755 1.2758 IZ dollar 0.7789 0.7801 0.5080 0.5083 Sterlinc 2.1183 2.1208 1.3815 1.3819 IS dollar 1.5333 1.5347 >$IUS$
      149 words
    • 133 21 Mar 12 /oz) far far Hong Kong .ondon 879.70 906.00 878.70 907.00 MarW Mar 11 893.20 907.60 895.20 909.60 Source: Thomson Reuters CAST BAR (S$) Mar 12 Buying Sellini Kilobar "48,366.14" ***** PAMP GOLD BARS (SS) Selling Buying gm jam Ogm !0gm iOgm OOgm oz ozUBS Kinphar™ 108.07
      133 words
    • 64 21 Mar 11 minimum, 99.7 jrity (US$/tonne) Co Close Previous :ash 1305.00 months 1339.00 1287.75 1322.00 Copper, Grade A (US$/tonne) :ash months 3558.50 3589.00 3690.5I 3720.0I .ead (US$/tonne) :ash 1263.25 months 1272.00 1284.01 1294.01 lickel (US$/tonne) :ash months 9719.00 9800.00 9857.0I 9935.0I 'in (US$/tonne) :ash *****.00 *****.01 months *****.00
      64 words
    • 69 21 Mar 11 (£/tonne) Close Prev Hii ih/Low War 09 1866 1797 1872/1806 Way 09 1852 1770 1857/1780 ul 09 1805 1724 1810/1735 iepO9 1780 1702 1784/1720 IOFFEE (US$/tonne) Close Pev High/Low /larO9 1422 1432 1432/1417 /lay 09 1439 1436 1455/1433 iUGAR (US tonne) l/hite Close Prev High/Low /lay 09
      69 words
    • 2236 21 BONDS, WARRANTS EXTENDED SETTLEMENT Pel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Disc Gear- Mths ing Left >058AdvanceModulesGrpW*****3 6 susp >036AdvanceSCTLtdW*****9 0.5 1 17 156 1.50 1 87 2088 8.00 41 17 3092 Asia Environment W*****4 0.5 1 38 235 23.00 5 1481 Asia Water Tech
      2,236 words

  • Page 22 Advertisements
    • 2724 22 The Business Times Shipping Times 22 Friday, March 13, 2009 _-_FV VPfl BJ^B^BffHTffim^ffffinßnß WAN HAI INTERNATIONAL PTE LTD UEN:*****4695M m A^H 15isM gMl!illfY^>r^lllal niiil i___l \"Tvi\ IAIA M UAI I Ilirr TEL:*****588 (14 LINES) FAX:6224H63 ___k*^""l _!_^^^^J__ IM___^T^^__i HUmH MPIMMME V\^^B I WAN HAI INt__) PKL TEL: (03| *****»88 FAX:
      2,724 words

  • Page 23 Advertisements
    • 3240 23 F**VHBEBII^B9IHi I linn eastern car liner, ltd irn sjujr///« I If-s—-1 specialize in roro heavy lift UPTO 450 tons~| WEEKLY EXPRESS SAILING SCHEDULE I I MERLIONACE 59 30 12/03 13/03 16/03 I I ALSO ACCEPTING CONTAINERS TO ALL NORTHERN AND WESTERN INDIAN ICD POINTS ■Of C f I MOUNT AKABOSHI
      3,240 words

  • Page 24 Advertisements
    • 80 24 I >^>bb v > c~c?* WINE I FOOD MOOD Italian Restaurant Wfnebar I Bring Your Own Bottle Sunday to Wednesday T% $5 Beer Wines (All Beers "House Wines by the Glass) Daily 3.30pm to 7.30pm, 10pm till closing ~*m $10 Pasta sL-^. *Any Choice of Classic Pasta :w:eif)v Daily 3.30pm
      80 words
  • Page 24 Miscellaneous

  • Page 25 Advertisements
    • 246 25 1 i dill Si^w*™ 3* 4 Experience A BRAND NEW Indulgent style of soaking up the European Summer Stay 7 nights onboard the luxurious MS Amadeus Symphony cruise ship and sail along the Danube river! Enjoy the luxury of cruising at night, from one destination to the next, and sightseeing
      246 words
  • Page 25 Miscellaneous
    • 418 25 M flfrli ,™juu sbg b *enf contemporary Asian art, jewellery vision of his fast-urbanising School, lib Mount Sophia, B^ llllldii°'w bis and watches, Chinese ceramics homeland, evoking a sense of #82-09. Admission is free. and classical Chinese paintings. poeticism and yearning for a past iw more information, visit Jgl Iff,
      418 words

  • Page 26 Advertisements
  • Page 26 Miscellaneous
    • 316 26 CRYPTIC CROSSWORD 1 Man goes round a short way —^J—^J——H B—^- -J—^J—^J— with dispatch (5) 4 Items of clothing used by vio- 1 I Hi Hi 8 It's awkward, being in an ugly Hi 11 n I j I riot (8) —I^^(—^^—^^ <^h 9 A base got destroyed by ene-
      316 words

  • Page 27 Advertisements
    • 510 27 Cji\f\ (jl&Z^B®^ 3D Bangkok Free& Easy 99*| .^^SSS^!^ ;-J f&O^{nkstt@s® 3D Tokyo Free Easy mat frss99'j $30 Thai Express Voucher *Giftvalid while stocks last. Travel Period: 15 Mar -30 Jun 09. Terms Conditions: Full payment ML !Qj Partieredb}.: must be made with DBS Platinum Credit Card (not including Co-Brand cards,
      510 words

  • executive lifestyle
    • 1229 28 With the local music market smaller than five million, artistes must find ways to venture beyond our shores, reports CHRISTOPHER LIM CHINESE pop star JJ Lin is part of a wave of enterprising musicians driving Singapore music on to the global stage, brandishing skills not just in
      FILE PHOTO  -  1,229 words
    • DESIGN/PURSUITS
      • 726 24 Student works from the Fl!p challenge are the winning seats at International Furniture Fair Singapore 2009. LIM SIO HUI reports FORGET the boring, commercial deals negotiated in them. For furniture fairs around the world, it is the quality of young designer exhibits that sets
        726 words
      • 656 24  -  MELISSA LWEE By BIRTHDAYS may be a time for receiving gifts, but there is no reason why they can't be a time for giving as well. Despite the increasingly bad economic times, there are still a few Singaporeans who make their own per- sonal bid
        BERNARD CHEONG  -  656 words
      • 1012 24  -  N KYONG By I THE problem with German Rieslings for most people is that they are sweet. And most wine consumers do not like their wines sweet except for the obvious dessert wines. Furthermore most people are not quite sure how to
        1,012 words
    • ARTS
      • 523 25  -  AMANDA DE GUZMAN By WHAT makes the inspiration for the finale of the NUS Arts Festival so unusual is its sheer simplicity. "Water poetically expresses the many aspects and experiences one can have with water," says Dutch pianist Monique Copper of her work.
        523 words
      • 962 25 CLARISSA TAN discovers the role science played in the life of Kangxi, the second Qing emperor IF Emperor Kangxi were alive today, he probably would, like Barack Obama, Nicolas Sarkozy and Queen Elizabeth 11, be on a social networking site such as Facebook or TwitThe emperor
        962 words
    • MOVIES/BOOKS
      • 550 26  -  PARVATHI NAYAR BOOK REVIEW The Story of Edgar Sawtelle By David Wroblewski Harper Collins Pages: 576 Price: $33.17 Rating: A By DAVID Wroblewski's gener-ous-hearted book is about many things but primarily, as the title tells us, it's the story of Edgar. Born mute, Edgar speaks more lucidly
        550 words
      • 470 26 Uneven storyline and criminally bad acting among problems with the movie, says GEOFFREY EU DRAGONBALL Evolution, the big-screen adaptation of a long-running Japanese comic book series by Akira Toriyama about alien beings battling for possession of seven mystical orbs, or "dragon balls", takes dead
        470 words
      • 509 26  -  AMANDA DE GUZMAN By i WHY Dwayne formerly "The Rock" Johnson chose a kiddie-friendly action flick to stage his attempt at flexing more serious acting chops is beyond comprehension. As ex-con turned cab driver Jack Bruno in the generic science-fic-tion flick Race to
        509 words
      • 464 26  -  GEOFFREY EU By A PERMANENT gloom hangs over the Kingdom of Dor, in keeping with the mood of the king, who is in deep mourning for his recently deceased queen a victim of rat-in-soup syndrome. He has ordered a ban on soup, rats and
        464 words
    • MUSIC/GAMING
      • 745 27 If you have to pick a few acts, choose the least well known, says CHRISTOPHER LIM IF you can only afford to see two concerts when Esplanade's Mosaic Music Festival officially opens today, you could do worse than to pick Skye and
        745 words
      • 526 27  -  CHRISTOPHER LIM By THERE are few gaming experiences more cathartic than scaring yourself silly by taking on endless hordes of vicious zombies. It's hard to worry about unpaid bills when there are moans and shrieks emanating from your TV speakers. If that sounds like the kind of
        526 words
      • 721 27  -  CHRISTOPHER LIM CD REVIEW By Encore David Garrett Decca B Revolutionary Cameron Carpenter Telarc B+ Bach Concertos Julia Fischer Decca B+ Mendelssohn Anne-Sophie Mutter Deutsche Grammophon A CLASSICAL artists who cross over to pop music can significantly broaden their appeal. But the problem is
        721 words
  • Page 28 Advertisements
    • 302 28 "In today's A XI 1^ I I investment market VV I I^J I is there anything M "ta better than gold?" The Highest Qualify Investment Grade Wines The Best Prices in Asia Celebrate the golden 50th anniversary of Singapore with an investment proven to be worth more than its weight
      302 words
  • Page 28 Miscellaneous