The Business Times, 23 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 Monday, March 23,2009
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  • 991 1  -  OH BOON PING Analysts expect cuts amid pressure on corporate earnings By LAST year's dividend yields among many Singapore stocks rose to their highest levels in five years due to the plunge in stock prices but analysts expect yields to come down this
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  • 753 1  -  ANDREW MARKS in New York By LAST week, the Fed's big and unexpected move to purchase US$l trillion in Treasuries and mortgagebacked securities provided the rocket fuel to keep the US stock market's nascent rally going. This week, it's Treasury Secretary
    m REUTERS  -  753 words
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    • 3 1 8 *****1 *****4
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    • 243 1 w SB "To me, it's the perfect tuning of a grand piano to the particular conditions of any given concert Best Private Bank 2008 hall." Georges Ammann, piano tuner for Steinway Sons Awarded by FnanceAsia In Japan, it's all about high humidity, and a preference for round, smooth tones. In
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  • Page 1 Miscellaneous
    • 76 1 V ]p~9^T DINING OUT AGE OF TURBULENCE B TOP STORIES BizlT A taste of spring Part 11 of BT-NUS series Concerns raised about Promising start to jA k^\ a^ Inagiku on the financial crisis pledged-share disclosure S'pore grid hub plan jfl^^^^)k PAGE 14 PAGE 11 j£l? PAGE 2 PAGE 28
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  • TOP STORIES
    • 373 2  -  EDWARD HADAS By I BEN Bernanke hasn't had it easy lately. So the governor of the Federal Reserve should remember Wednesday, March 18. For one brief day, he seemed to have regained the upper hand over frightened markets. It didn't last for good
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    • THREE-MINUTE DIGEST
      • 62 2 DIVIDEND yields for Singapore stocks which rose to their highest levels in five years in 2008 are likely to be pared this year, as companies cut back on cash payouts amid the uncertain economic conditions. Scrip dividend programmes may, instead, become more common,
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      • 68 2 BUSINESSMEN are said to be up in arms at the idea they may have to reveal shares they have pledged amid calls for greater disclosure, arguing that it's an invasion of privacy over their personal financial arrangements. But they may not be able to drown
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      • 64 2 IT'S known that what goes up must come down, but in this case, the inevitable may be coming a little quicker and sharper than expected as lower occupancies force hotels to cut room rates. One of the reasons for this is a drop
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      • 62 2 NEPTUNE Orient Lines rapped last week for poor disclosure over a rumoured rights issue said over the weekend that it "takes SGX's reprimand seriously". It also expressed regret that its earlier media release may have given the wrong impression that it
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      • 83 2 Curbing leakage Mission impossible? DISTRUST is raging as recent market rumours of rights issues has sparked fears of leakage. And now comes the hard question: How to prevent leaks when it comes to corporate transactions such as rights issues? It's a tall order, say companies and industry professionals, considering the
        83 words
      • 65 2 LABOUR productivity in the manufacturing sector here is poor compared with other developed economies, according to a US Department of Labor study. The saving grace is that unit labour costs here in local currency terms has declined in recent years, keeping Singapore manufacturers competitive.
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      • 69 2 THAI Prime Minister Abhisit Vejjajiva yesterday announced measures to battle the country's economic woes, which includes unemployment expected to rise to at least one million workers this year. Mr Abhisit said the government was launching an intensive job training programme, would
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      • 71 2 SINGAPORE'S ambition to become a global powerhouse for pay-per-use grid computing services is off to a good start, judging by the strong initial take-up of the country's first large-scale commercial grid platform. Just four months after the roll-out of the National Grid initiative,
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    • 725 2  -  SIOW LI SEN Some call it invasion of privacy, but others say it would improve corporate governance By BUSINESSMEN are said to be concerned about the idea they may have to reveal shares they have pledged amid calls for greater disclosure, arguing that it's an
      1 I FILE PHOTO  -  725 words
    • MARKETS DIGEST
      • 52 2 >T Index 1,596.92 +19.40 1 COMP 856.82 +13.37 IIKKEI225 7,945.96 +376.68 1ANG SENG 12,833.51 +307.71 SET INDEX 429.64 +4.85 JAKARTA COMP 1,360.89 +33.45 1ANILA COMP 1,833.90 -22.20 ;eoulcomp 1,170.94 +44.91 iHENZHEN B 335.38 +19.22 IUMBAI IND 8,966.68 +210.07 )OW 7,278.38 +54.40 IASDAQ 1,457.27 +25.77 ;&P 500 768.54 +11.99 =TSE
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      • 29 2 SINGAPORE 5.38 MALAYSIA 5.53 HONG KONG 5.00 INDONESIA 16.503 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
        Bloomberg  -  29 words
      • 42 2 IS$ (S$ US$) 1.508 (USS/SS il 1.458 2.198 EURO (US$,S$/E) Foreign currency p 1.371 per US$ 2.068 S$ 'EN 94.20 62.50 3.646 2.418 IK$ 7.751 5.141 !AHT 35.35 23.44 lUPIAH 11,815 7,836 lENMINBI 6.827 4.528 INDIAN RUPEE 50.13 33.24 1.445 0.959
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    • 497 2  -  OH BOON PING By SOME Singapore companies face refinancing risks even though the local banking system is resilient, says Fitch Ratings. Speaking to BT, its managing director of corporates, Tony Stringer, said that Asian companies often rely on short-term bank credit lines
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    • 981 3  -  NISHA RAMCHANDANI Room rates fall up to 20%; corporate demand slows as companies cut cost By IT'S known that what goes up must come down, but in this case, the inevitable may be coming a little quicker and sharper than expected as lower
      I ' I FILE PHOTO  -  981 words
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  • Page 3 Advertisements
    • 51 3 SIMPLY CLEVER m—-|,^ OFFICIAL PARTNER 58jL The all-new SkodaSuperb with TwinDoor p/ Combining the practicality of a hatchback with the seducing elegance of a sedan, the new SkodaSuperb P^^ y definitely scores high in terms of its striking appearance, j Cj I1 l 111 11 53 I w^m\^^^^ iyji B^S
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  • COMPANY NEWS
    • 797 4  - Key players roles in averting fraud VEN SREENIVASAN HOCK LOCK SIEW THE recent spate of corporate scandals involving outright fraud, poor disclosure and absence of corporate governance has prompted the Singapore Exchange to put directors and audit committees on notice. Most of the scandals involved S-chips China-based companies listed here.
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    • 380 4  -  JAMIE LEE It regrets that its earlier release may have given the wrong impression By NEPTUNE Orient Lines (NOL) rapped last week for poor disclosure over a rumoured rights issue said over the weekend that it "takes SGX's reprimand seriously". It
      I BLOOMBERG  -  380 words
  • Page 4 Advertisements
    • 131 4 I I I THE ASIAN BANKER I Wk EXCELLENCE IN I I fSJ RETAIL FINANCIAL SERVICES I I J AWARDS 2009 HSBC is honoured to win I I "Best Customer Loyalty Programme" I I for its home loans SIBOR-pegged I loyalty package. I This one's truly special. All the more
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  • Page 5 Advertisements
    • 383 5 I tl 'J&* iL //AH > II JI ""'^v. W ft- -■:.■■;< -I". t'i''"^'^- T i^v-; H 1 Relationships can be truly rewarding. With our new SIBOR-pegged relationship lending package*, you can now enjoy more benefits when you embark on a long-term banking relationship with HSBC. With this package, you
      383 words

  • SINGAPORE MARKETS
    • 739 6  -  R SIVANITHY STOCKS Senior Correspondent How should a small trader play this market? The best way would be to adopt the same approach the big money has for the past few months buy selectively into the dips and sell quickly into strength
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    • 954 6 Legends US$; Rmb; HK$; A) As; Pound; Rupiah; Yen; Euro; AA) Baht; RM; Peso; (AA^ Rs; NT$; (ad) Capital; (ag) Dividend/Distribition; (ah) Final; (ai) to be announced; (aj) Final Tax Exempt; (ak) Final Tax Exempt (One Tier); (an) First and Final Tax Exempt (One Tier); (aq) Income Tax
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    • 455 6 -AFP CURRENCIES [HONG KONG] Asian currencies ended the week higher against the dollar in reaction to the Federal Reserve's decision to pump more than a trillion dollars into the financial system. Japanese yen: The yen gained ground during the week
      -AFP  -  455 words
    • 269 6 -AFP COMMODITIES -[LONDON] Commodity prices rallied last week as the US Federal Reserve's decision to pump more than a trillion dollars into the ailing American economy weakened the greenback, leaving investors to seek out havens. "The Fed's decision to move to quantitative easing by signalling that
      -AFP  -  269 words
    • 1490 6 Consensus No. of Forecast Mean Fri's recommendation esti- EPS PE target price This wk Last mth mates (cents) (ratio) price Company name Allgreen Prop Ltd 2.83 2.58 12 5.39 7.15 0.63 0.39 ARA Asset Mgt Ltd 2.00 2.00 6.05 6.86 0.65 0.42 Ascendas India Trust 1.75 1.75 4
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    • 4 6 WEEKLY
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    • 61 6 v/lar 20 VALUE CLOSE IT OB/OS 6.00+124.0 IT CADI -*****.00 +50.00 IT 10-day MA -*****.00 TSE ST Mid Cap 310.63 +0.67 TSE ST Small Cap 240.96 -7.96 TSE ST All Share 377.99 +1.63 TSE ST China Top 139.64 -9.19 TSE ST China 137.16 -4.86 IOB Catalist 64.62
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    • 58 6 China Honi jxint 248,334,001 Golden Ac iri 222,661,001 Cai lall R 144,321,001 .and 120,726,001 Yanlord 115,151,001 Sino-Env 110,566,001 StraitsAsia 109,016,001 SinoTechfib 100,060,001 Cai iMall 96,718,001 RafflesEdu 93,836,00! VALUE($) DBS Gr| 466,069,587 UOB 367,861,20! .and 255,156,961 Sim |Tel 223,473,22! OCBC Bk 194,161,10! SGX 146,713,941 Kei Con 141,251,862 S
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    • 101 6 CLOSE UP 9475 625.6 4.6 LD 10US$ iBXT Ni 10US! 5620 482.4 6.0 ISH 1028 200.5 14.9 IMH 1800 147.7 5.8 IOB 5.05%NCPS 100 9100 110.0 1.2 iTXPO 100 952 107.0 12.7 ICBC Bk5.1%NCPS 100 9100 100.0 1.1 MS India 10US! 693 88.9 9.3 iBXT FTChina25 10US$ 1890 66.3
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    • 114 6 Closing prices are in trading currencies, but absolute difference is in Ss. iBXTS&P Short 10US$ CLOSE DOWN 8330-542.7 -4.1 I A 971 -65.0 -6.3 IIA 200 970 -52.0 -5.1 ;iA.ES.O9O3 969 -33.0 -3.3 ICBC Bk4.5%NCPS 100 8000 -20.0 -0.2 :erebosPac 236 -19.0 -7.5 HC 97 -19.0 -16.4 iBSBNPePW*****9 47.5
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    • 86 6 Where S! stands Mar 20 CHNG CLOSE FRMaM9 YR 2008/2009 S$ LOW S$ HIGH uss 1.5095 0.63 1.5579 1.3457 Euro 2.0639 -0.75 2.2064 1.8640 Pounds 2.1957 -1.20 2.8431 2.0356 AS 1.0435 -1.32 1.3251 0.9068 Yen* 1.5945 -0.33 1.7278 1.2619 Rupiah* 0.***** -0.56 0.***** 0.***** Baht* 4.2689 0.06 4.4299 4.0190
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    • 916 7  - Curbing leakage Mission impossible? LYNETTE KHOO With many parties sewing up deal, it's tougher for big firms By DISTRUST is raging as recent market rumours of rights issues has sparked fears of leakage. And now comes the hard question: How to prevent leaks when it comes to corporate transactions such
      FILE PHOTO ILLUSTRATION  -  916 words
    • 399 7 Mar 20 BANKS ABN Amro Bank NY 5.5 Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banca Di Roma Singapore branch 6.5 Banco Bilbao Vizcaya Argentaria, S.A 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5
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    • 330 7 STX Pan Ocean A STX Namsan Tower, 631 Namdaemunro 5 ga, Jung-gu, Seoul 100-803 Korea 25-Mar 9.00am EDMI Ltd E 47 Yishun Industrial Park A, #01-00 Singapore *****4 25-Mar 10.30am Manwah Hldgs S TDB Room, Lower Lobby, The Fullerton Hotel Singapore, 1 Fullerton Square, Singapore 0491^8 25-Mar 10.00am
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    • 1553 8  -  TEH HOOI LING THE panic in S-chips eased somewhat last week as investors and punters slowly moved back into the market trying to pick through the rubble for potential short-term mon-ey-making trades. Sentiment was also helped by the second consecutive week of gains
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    • 1291 8  -  ROBERT HALILI INSIDE MARKETS By INSIDER activity fell last week based on filings with the Singapore Exchange with 24 companies recording 40 purchases worth $6.5 million versus two firms with five disposals worth $720,000. The buys were sharply down from the
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    • 42 7 II Jiltj j i jH I i if lit I iiJsl»l I Ti Now'n session j I f SMU's new I *^J Juris Doctor ■■mm IJ i I I J IQIJIf fIAIIVAA I I IclVv Uci|r66 111 ff mmi I J II
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  • SINGAPORE NEWS
    • 834 9  -  CHUANG PECK MING Manufacturing labour productivity in other developed economies higher: US Labor Dept ByC SINGAPORE'S labour productivity in manufacturing is poor compared with other developed economies, according to a study by the United States Department of Labor. Hourly labour output in manufacturing here
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    • 553 9  -  LEE U-WEN It has agreed to be the event's main system integrator By WITH nearly 17 years of experience working with the Olympics, Atos Origin, an international IT services company, has now set its sights on making its mark in the Youth Olympic Games
      I FILE PHOTO  -  553 words
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1054 10 Cash-rich stocks with cheap valuations are attractive but are some of them too good to be true? JASON LOW discusses LOOKING at how the financial crisis has evolved so far, it is perhaps a given that it will take quite some time before market sentiment begins
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    • 1041 10 CAMPUS LIFE A beautiful friendship forged in Spain got translated into Zsofi, a trendy new tapas bar in Little India run by NTU student Janice Tan. She tells QUAH CHIN CHIN about her venture into the F&B line THE bar is nestled among a row
      _i_ | QUAH CHIN CHIN  -  1,041 words
    • 204 10 FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors' Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
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  • Page 10 Advertisements
    • 46 10 citibank THE Business Times-Citibank Young Investors' Forum is published every Monday in The Business Times. It aims to raise the financial awareness of university and polytechnic students and cultivate a better understanding of business issues. The series is part of BT and Citibank's tertiary outreach programme.
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  • FINANCIAL CRISIS
    • 1089 11 It's time to properly evaluate a company's processes that impact directly on profit, people and planet, writes 808 FLEMING HEN considering the impact of the financial crisis on Corporate Social Responsibility (CSR), it's necessary to understand just what CSR is and isn't. A simple, broad
      VASANT DAVE/STOCK.XCHNG  -  1,089 words
  • Page 11 Advertisements
    • 9 11 NUS s ßcu^ s L s THE BUSINESS TIMES
      9 words
    • 311 11 FLY ANA to Tokyo Osaka* Nagoya* Travel Period: Sales Ticketing: 08 Apr 30 Jun 09 01 Apr 22 Apr 09 Be AMAZED by our ALL-INCLUSIVE fares! Plus, ENJOY convenient connections to 8 Japanese cities! Sapporo Sendai Osaka Nagoya Fukuoka Hiroshima Komatsu Okinawa Fares are inclusive of all applicable taxes, surcharges
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  • VIEWS FROM THE TOP
    • Article, Illustration
      2919 12  -  Goh Chong Theng THIS WEEK'S TOPIC Is there a need for more stringent screening of companies, and foreign companies especially, seeking a listing on the Singapore Stock Exchange? Does the financial crisis give rise to a need for tighter regulation in matters of corporate governance? Gary Harvey CEO
      BLOOMBERG FILE PHOTO  -  2,919 words

  • Page 13 Advertisements
    • 2118 13 RafflesMedicalGroup Company Registration No. *****1967K (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 20" Annual General Meeting of the Company will be held at 585 North Bridge Road, Raffles Hospital #11 -00, Singapore *****0 on Wednesday, 15 April 2009 at 2.30
      2,118 words

  • DINING OUT
    • 588 14  -  Jaime E& PROMOTION Inagiku Level 3 Fairmont Singapore 80 Bras Basah Road Tel: 6431-6156 (March 18 to April 18) CHERRY blossom season in Japan marks the entry of spring, but for foodies there it means shaking off the deep earthy flavours of winter and welcoming the
      588 words
    • 672 14  -  Cheah Ui-Hoon RESTAURANT Peony-Jade at Keppel Club Bukit Chermin Road, Keppel Club Tel: 6276-9138 HOW about some ale with hargau? It's not everywhere that you can get freshly brewed beer with dim sum, so that should be a tick in Peo-ny-Jade's favour since its second outlet
      672 words
  • Page 14 Advertisements
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  • ECONOMY WATCH
    • 488 15 -AP Govt will launch an intensive job training programme, Abhisit announces [BANGKOK] Thai Prime Minister Abhisit Vejjajiva yesterday announced measures to battle the country's economic woes, which includes unemployment expected to rise to at least one million workers this year. Mr
      -AP; AP  -  488 words
    • 459 15 Bloomberg Proposal to address risks remaining in financial regulation [WASHINGTON] The Obama administration will this week outline regulatory changes aimed at avoiding a repeat of the financial crisis that has crippled the banking system and pushed the US into the deepest recession
      Bloomberg  -  459 words
    • 375 15 AP [TOKYO] Japan's Finance Minister Kaoru Yosano said yesterday that aggressive public spending would be needed on a scale of possibly 20 trillion yen (*****.8 billion) to wrest the economy out of recession. Mr Yosano, who also serves as financial services minister,
      AP; AFP  -  375 words
    • 424 15 -AFP [MELBOURNE] Australian Prime Minister Kevin Rudd yesterday said that it was "virtually impossible" for the country's economy to grow in the current climate, all but conceding a recession is looming. The economy shrank for the first time since 2001 in the final
      -AFP  -  424 words
    • 389 15 Bloomberg G2O SUMMIT Global crisis and a new man in White House favour a deal, says UK [LONDON] Leaders of the Group of 20 advanced and emerging countries may help secure a global trade agreement that would help nations tackle the deepening worldwide
      Bloomberg  -  389 words
    • 455 15 -AP [WASHINGTON] President Barack Obama says Treasury Secretary is one job that's not up for grabs. In an interview with CBS' 60 Minutes, Mr Obama said that if Treasury chief Timothy Geithner offered his resignation, the answer would be, "Sorry buddy,
      -AP; AP  -  455 words

  • MALAYSIA/INDONESIA
    • 682 16  - AH eyes on 'The Umno Show PAULINE NG MALAYSIA INSIGHT Which way Malaysia heads will depend largely on who gets elected at this week's crucial general assembly THE Umno general assembly this week has been painted by the local media as arguably the country's most important of the year. Many
      682 words
    • 424 16 Reuters [JAKARTA] As Indonesia heads for elections, some politicians are taking a more nationalist line on the country's vast natural resources, a move that could scare off much-needed foreign capital amid the global credit crunch. While some industry experts see the rumblings over foreign investment as
      Reuters  -  424 words
    • 278 16 Reuters [KUALA LUMPUR] Malaysia's incoming prime minister Najib Razak has vowed to fight vote buying in his party in a bid to regain ground after it lost its iron-clad two-thirds majority last year, an official newspaper said yesterday. Mr Najib, who
      ■ Reuters  -  278 words
    • 2167 16 Mar 20 RM A&M Realty 0.28 AbricBhd 0.18 Advance Synergy 0.09 Adventa Bhd 0.83 Ae Multi Hldgs 0.12 Affin Holdings 1.29 Ahmad Zaki Resou ....0.51 Aic Corp 0.44 Airasia Bhd 0.96 Akn Technology 0.12 Alliance Financi 1.72 Aluminium Co 0.77 Amalgamated Ind ....0.26 Ammb Hldgs Bhd ....2.50 Amtel
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  • INDIA
    • 405 17 Bloomberg [NEW DELHI] India's central bank has "more room" to cut interest rates further to combat economic slowdown and a global recession, according to Montek Singh Ahluwalia, deputy chairman of the nation's Planning Commission. "Fortunately, we have more room for further
      Bloomberg  -  405 words
  • Page 17 Advertisements
    • 2349 17 w MAIS -L^l V— J I Vw' -L l3 Toll free: 1800-289-8822 Email: notices@sph.com.sg www.cats.com.sg IUtI.I.MIT&T I Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) Notice of Annual General Meeting/ Closure of Books I ALL MEMBERS ARE CORDIALLY INVITED TO ATTEND the annual general
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  • GREATER CHINA
    • 494 18 -AFP It will cut major local carmakers to 10 from 14 by 2011 [BEIJING] China said on Saturday that it wanted to boost its car industry by reducing the number of companies in the sector through mergers and promoting two or three carmakers
      -AFP  -  494 words
    • 473 18 Bloomberg 4t yuan spending will help the nation realise its target of 8% expansion [SHANGHAI] China's four trillion yuan (*****.8 billion) stimulus package may contribute between 1.5 per cent and 1.9 per cent to the nation's economic growth this year, according to the
      Bloomberg; REUTERS  -  473 words
    • 584 18 ■Reuters [BEIJING/HELSINKI] Cashstrapped telecom operators, shunned by banks, are turning to equipment makers for financing in a likely boon for global leader Ericsson and fast-growing Chinese rivals. This vendor financing had been on the wane since the dotcom bubble burst in 2000
      ■Reuters  -  584 words
    • 309 18 Reuters [GENEVA] China and the United States traded blows over entertainment and software piracy last Friday as the World Trade Organization (WTO) formally ruled some Chinese practices were illegal but exonerated it of other complaints. But the comments also showed that major trading powers were
      – Reuters  -  309 words
  • Page 18 Advertisements
    • 1698 18 _L^l V^>/ X Xv^-Ljl3 Toll free: 1800-289-8822* Email: notices@sph.com.sg www.cats.com.sg m FRAGRANCE GROUP LIMITED (Incorporated In the Republic of Singapore) Company Registration No. *****6656M NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Fragrance Group Limited will be held on April 8, 2009 at
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  • WORLD
    • 601 19 Reuters, Bloomberg NYT, Effort on 'to ensure they don't pull funds from that part of Europe': Zoellick [MILAN] The World Bank is talking to banks involved in Eastern Europe to persuade them to hold on to their investments there, the institution's president
      Reuters,; Bloomberg; NYT,  -  601 words
    • 435 19 AP [WASHINGTON] President Barack Obama says that while the details may change, any budget passed by Congress must cut the deficit, reform healthcare, invest in education, and reduce US dependence on foreign oil. After a week dominated by outrage over enormous corporate
      AP  -  435 words
    • 359 19 Bloomberg [CARACAS] Venezuelan President Hugo Chavez has cut government spending and raised the country's va-lue-added tax by 3 percentage points to offset a plunge in oil prices and protect the economy from the global financial crisis. Oil-rich Venezuela will reduce spending 6.7 per cent to
      Bloomberg  -  359 words
    • 554 19 Bloomberg,, Reuters [PARIS] Societe Generale chairman, chief executive officer and two deputy CEOs should hand back stock options that they were granted this month even as the bank is drawing public aid, Finance Minister Christine Lagarde said. "I'm appealing
      – Bloomberg,,; Reuters  -  554 words
    • 270 19 -AP [NEW YORK] Morgan Stanley CEO John Mack received no raise, bonus or stock options last year, and his total compensation of US$l.2 million sank by more than US$4O million compared with 2007, according to a Securities and Exchange Commission filing. Mr Mack,
      -AP  -  270 words
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    • 1222 19 V^Z^ ftVv^TT/nrr Tollfree:1800-289-8822 I 11 r< Email:notices@s Phcom-s9 JL^I V^-/ JL JL^»> JLj k3 www.cats.com.sg r TRANSPAC INDUSTRIAL HOLDINGS LIMITED (Company Registration No: *****0941K) (Incorporated in the Republic of Singapore) NOTICE OF FIFTEENTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Fifteenth Annual General Meeting of Transpac Industrial Holdings
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  • BONUS BROUHAHA
    • 317 20 [HARTFORD, Connecticut] The AIG bonus controversy continued on Saturday as Connecticut attorney general Richard Blumenthal said the total paid was more than US$5O million higher than previously believed. The overall bonuses to employees at the beleaguered insurance giant were US$2lB million, not US$l65
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    • 599 20 ■NYT Financial firms not receiving bailout money to also come under new rules [WASHINGTON] The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and other companies as part of a sweeping plan to overhaul financial
      ■NYT  -  599 words
    • 593 20 Bloomberg 90% levy is unfair, says Bank of America CEO [NEW YORK] Banks such as Citigroup, Bank of America and JPMorgan Chase, which received more than US$lOO billion in rescue funds, have criticised congressional proposals to tax Wall Street bonuses. Kenneth Lewis,
      – Bloomberg  -  593 words
    • 785 20 AFP [TOKYO] While US bosses are under fire for "fat-cat" bonuses, Japanese executives have largely avoided a row over corporate greed by cutting their own pay or even working for free during the crisis. When US auto bosses were being lambasted recently for flying
      AFP; BLOOMBERG  -  785 words
    • 378 20  -  HUGO DIXON By THE backlash against AlG's knuckleheaded bonuses could endanger the global economy. The outrage over the US$l65 million bonuses has turned financiers and bankers into devils and further undermined the credibility of new US Treasury Secretary Tim Geithner. This, in turn, will
      378 words
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  • AVIATION/SHIPPING
    • 551 21  -  VEN SREENIVASAN Icing risk is dependent on interactions that are not fully understood By [SINGAPORE] In a development which could be cause for concern for many airlines operating intercontinental routes, engine maker Rolls-Royce whose Trent 800 engine's fuel line component freeze-up caused
      551 words
    • 631 21 Bloomberg [LONDON] The Baltic Dry Index, a measure of shipping costs for commodities, posted its biggest weekly decline in three months on falling demand for iron-ore transporters. The index fell 16 per cent to 1,782 points last week, according to
      Bloomberg  -  631 words
    • 2557 21 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
      2,557 words
    • 317 21 AP [CARACAS] Venezuela's government seized seaports and airstrips in at least four states last Saturday, a move that critics say is meant to limit the powers of mayors and governors opposed to President Hugo Chavez. The takeover, ordered by Venezuela's socialist president last weekend and
      AP  -  317 words
  • Page 21 Advertisements
    • 184 21 ASIAN FEEDER DISCUSSION GROUP (AFDG) CALCUTTA FEEDER OPERATORS (CALFO) NOTICE TO TRADE TRADESURCHARGE The following feeder operators in the Singapore/Malaysia to Kolkatta/Haldia sector wish to inform the trade that with effect from 1 April 2009, a Trade Surcharge of U5D75.00 per TEU will apply on all full containers loaded at
      184 words
  • Page 21 Miscellaneous
    • 299 21 CRYPTIC CROSSWORD ACROSS I Soldier planned a proper rota 7 Reaching an equal, we hear BBBM BB BB Bfl BB BB BBHB 8 Strong denunciation from youth understood (7) 10 Drive to find parking within to I I1 Student finally studied philosopher? Routine activity (9) 12 f 114 f 12
      299 words

  • SINGAPORE STOCKS
    • 8799 22 Week ended: Mar 20 52-wks Tel |h Low Code Com| Last Sale Vol Week Last Quote Div GrYld Net ('000) High Low Buyer Seller C'vr P/E M Cap Smil 52-wks Tel |h Low Code Last Sale Vol Week Last Quote Div GrYld Net ('000) High Low Buyer Seller
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    • 1739 23 High Low Code Company Sale COOO) High Low Buyer Seller C'vr P/E $mil 52-wks Tel High Low Code Company Last Sale Vol Week Last Quote Div Gr Yld COOO) High Low Buyer Seller C'vr Net P/E M Cap $mil 20 5 1181 s AAGrp 32 13 8538 t
      1,739 words
    • 362 23 52-Wk Tel High Low Code Last Sale Vol C000) Week lh Low Last Quote Buyer Seller Div GrYld Net MCap C'vr P/E $mil Comi Hi. 110 100 6389 ABF SG Bond ETF 982 427 CIMBAsean40 1OOUS$ 167 149 DBS STI ETF 100 1936 1682 DBXTFTChina25 1OUS$ 956 850
      362 words
    • 261 23 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
      261 words
    • 119 23 Stock name Close Change Stock name Close Change Stock name Close Change Caj .and 2.030 -0.050 JSH 10.280 +1.000 SIAEn. 1.590 -0.010 Caj lall 1.120 +0.020 Jardine CSC 9.990 +0.390 SPH 2.420 -0.070 Cit' 5.030 +0.020 Kej Con 4.450 +0.080 ST En. 2.230 Cosco Cor| 0.740
      119 words
    • 101 23 Up Down Unch Up Down Unch Up Down Undi Multi Ind 7 9 1 0 0 0 7 9 1 Manufacturing 81 56 62 14 90 65 76 Commerce 29 16 25 32 19 30 r/O ms 15 14 15 14 12 Finance 17 12 17 13
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    • 115 23 MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 113,602 113,602 289,853 289,853 Manufacturing 1,157,507 54,661 1,212,168 436,538 1,196 437,734 Commerce 225,623 16,772 242,395 252,887 1,785 254,672 Tpt/Stor/Comms 353,487 719 354,206 581,199 35 581,234 Finance 218,038 110 218,148 1,191,539 1,191,543 Construction 124,408 38,780 163,188 5,076 222 5,298 'ro|
      115 words
    • 2720 23 Transaction date: Mar 20 For a full listing of the closing prices, log on to BT online at http://business-times.asial.com.sg after 11.30pm every trading day \eon Credit \eon Stores \ngang Steel \nhui Conch \nhuiexpressway \sia Satellite \sm Pacific Sank Of E Asia Seida Jade Bird Jeijing Airport Seijing Ent
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  • FINANCE & COMMODITIES
    • 380 24 In local curr In S$ In US$ dy yr dy yr dy yr Index Change Change Change Change Change Change Mar 20 World Index Preliminary 594.2 -0.2 -12.3 -0.3 -9.0 -0.9 -13.! t EAFE Prel liminai 568.5 0.1 -12.4 -0.7 -10.4 -1.3 -14.1 Euroi Prelim
      380 words
    • 121 24 As at 9am Mar 20 Singapore dollars to one unit rf foreign currency: Currencies Bid Offer s,ust dollar 1.0310 1.0630 .an dollar 1.2110 1.2260 luro 2.0540 2.0780 IZ dollar 0.8360 0.8550 iterlini ind 2.1800 2.2060 JS dollar 1.5040 1.5210 .ocal dollars to 100 units if foreign
      121 words
    • 156 24 Mar 20 Xterniqht 1/16 -month 7/16 -months 9/16 l-months 11/16 Overnight mode: 7/16 IS$ Offer PAR 3/16 5/16 7/16 BJd 1 days I month I months months d months months I I. (All 0.43 0.65 1.20 1.50 2.00 2.20 2.30 Offer 0.33 0.55 1 00 1.20 1.70 1.90
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    • 22 24 Mar 20 STI IIMSCI Mar 190.2 192.9 192.6 "aiwan Mar 188.6 190.2 185.4 Source: MF Global (S) He. Ltd
      22 words
    • 22 24 Mar 20 SS Bid Offer 1-month 1.5075 1.5081 2-months 1.5073 1.5081 3-months 1.5069 1.5077 6-months 1.5067 1.5075 Source: OCBC
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    • 179 24 Mar 20 tUBBER Futures (Closing prices) !SS 3 (US cents/kg) /lonth High Low Close Sett Volume (lots) O/l lots) \prO9 Way 09 lunO9 ul 09 \ug 09 >ep 09 144.4 145.5 145.5 145.0 144.5 144.0 6 86 6 815 730 831 1029 686 544 FSR 20 (US cents/kg)
      179 words
    • 86 24 Mar 20 'eriod Issue code Maturity Yesterday's Bid Hi< Day's |h Low 1-Month BQ*****S 18.06.09 -Year BY*****V 02.11.09 0.36 0.46 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
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    • 101 24 Mar 20 (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low May 09 952.00 940.50 953.00 935.25 Jul 09 949.00 940.00 950.00 934.75 AugO9 932.50 927.25 932.00 923.00 Sep 09 905.50 902.75 905.50 897.50 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low May 09 32.25 31.89 32.49 31.83 Jul
      101 words
    • 75 24 CRUDE OIL PRODUCTS Mar 19 origin^ t/barrel Close Cham irent blend (1-Mth F) 49.69 2.79 WTI (Near Mth) 51.13 1.73 iubai (1-Mth F) 47.64 1.62 "apis blend 51.45 0.80 i/linas 50.45 1.10 >RODUCT JS$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 46.50 53.90 0.8! 0.8! US$/barrel )pec Oil Basket Price
      75 words
    • 446 24 Mar 20 iuro 'en (on 'eso lam 'ouni Australia 0.853 4.723 0.505 5.362 34.682 81.742 0.652 9.773 2.522 1.232 55.677 33.409 1.043 6.708 0.774 23.376 24.457 0.475 0.692 Canada 1.172 5.534 0.591 6.283 40.637 95.777 0.764 11.451 2.956 1.443 65.236 39.146 1.222 7.860 0.907 27.389 28.656 0.556
      446 words
    • 65 24 Mar 20 mth 0.***** 0.***** mths 0.***** 0.***** 6mths 1.***** 9 mths 1.***** 12 mths 1.***** mths 1.***** 0.***** mths 1.***** 0.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs 1.***** 4yrs 2.***** 5yrs 2.***** 7yrs 2.***** 10yrs 2.***** 12 yrs 2.***** 15 yrs 2.***** mths 1.*****
      65 words
    • 154 24 Mar 20 Against SS lurrencies Bid Offer Against USS Bid Offer >$IUS$ to one unit of foreign currency: Australian dollar 1.0429 1.0434 0.6918 0.6919 'anadian dollar 1.2216 1.2228 0.8104 0.8109 iuro 2.0672 2.0681 1.3713 1.3714 IZ dollar 0.8463 0.8473 0.5614 0.5619 jterlini ind 2.1973 2.1987 1.4576 1.4580
      154 words
    • 136 24 Mar 20 /oz) lar lar Hong Kong 927.00 956.50 928.00 957.50 Mar 20 Mar 19 952.95 953.80 M Sellim Bui rim .ondon 1 oz 1613.56 1460 UBS GOLD LUNAR KINEBAR (SS) Selling Buying Source: Thomson Reuters 10gm SILVER $566.03 Selling Bu' 464 /ing CAST BAR (S$) Mar 20
      136 words
    • 61 24 ,luminium, 99.7% urity (US$/tonne) Close Previous :ash 1423.25 months 1459.00 1426.75 1463.00 Copper, Grade A (US$/tonne) :ash months 3919.00 3955.00 3963.00 3999.00 .ead (US$/tonne) :ash months 1335.25 1345.00 1316.25 1325.00 lickel (US$/tonne) :ash months 9893.00 9922.00 9975.00 *****.00 'in (US$/tonne) :ash *****.00 *****.00 months *****.00 *****.00 inc, Special
      61 words
    • 70 24 Mar 20 (£/tonne) Close Prev Hii ih/Low Way 09 1921 1921 1929/1903 lul 09 1877 1874 1884/1861 iepO9 1855 1851 1862/1839 Dec 09 1825 1818 1827/1813 IOFFEE (US$/tonne) Close Pev High/Low /lar 09 1535 1550 1552/1546 /larO4 1560 1565 1590/1553 iUGAR (US tonne) l/hite Close Prev High/Low /lay 09
      70 words
    • 62 24 Mar 20 lelivery flonth Opening Sett Av Range Price Price Hi Low Vol Open Done Position 4.pr 09 2028 2080 2080 2025 338 3595 May 09 1984 2035 2036 1977 3747 ***** lun 09 1927 1985 1985 1914 ***** ***** lul 09 1877 1940 1940 1870 3709 *****
      62 words
    • 266 24 Mar 20 URODOLLAR FUTURES unO9 iepO9 DecO9 VlariO 98.8150 98.8200 98.6600 98.6100 9362 4739 4447 2692 EUROYEN TIBOR FUTURES unO9 iepO9 DecO9 VlariO un10 iep10 DedO \/lar11 99.425 99.465 99.470 99.455 99.395 99.335 99.290 99.205 75 1 20 ***** 4078 1931 1402 527 252 152 412 EUROYEN
      266 words
    • 2476 24 BONDS, WARRANTS EXTENDED SETTLEMENT Tel Code Company Tel Code Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Prem Expiry Disc Gear- Mths ing Left 4178 DBS MBL ICW*****3 4561 DBS MBL JCW*****3 9.5 5.5cd 1 0.1 1164 1293 1 4 SIA BNP ECW*****3 SIA DBS ECW*****9 15.5 16.5
      2,476 words

  • Page 25 Advertisements
    • 1233 25 m The Business Times Shipping Times m lil'ffillillHMliiiJt'OliLl U&U3U M\ UK CONTINENT SERVICE U.S.A SERVICE Destination Destination STXPOTBN RTM/ANR/TIL STXPOTBN NOL/NFK/SAV/CDN Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.E./S.E.A SERVICE Destination Destination SEA RAINBOW MCT/SHJ/ABU SUN EXPLORER INC/BSN STXPO TBN DBI/ABU/BRN/DOH/DMM/KWI Loads Singapore, E./W. Malaysia, Indonesia
      1,233 words
    • 1330 25 WAN HAI INTERNATIONAL PTE LTD UEN: *****4695M %TTvi\ IAfAM UAI I Ilirr TEL:*****58S (14LINES) FAX:*****163 \|M J WAN H/\l INt J PKLIEL: (03) *****888 FAX: (03) *****288 PtNIEL: (04) *****00 FAX: (04)*****99 V. J0H1EL:(07)*****23FAX:(07)*****215UR1EL:(031)*****75FAX:(031)*****14/*****05 T^ JKT TEL: (021) 52S41SS FAX: (021) *****88 PLMTEL: *****0/*****1 FA&*****9 WWW.Wanhai.COIH.Sg BEL TEL: (061) *****83
      1,330 words

  • Page 26 Advertisements
    • 1405 26 PCL/PHL SERVICE AMX SERVICE Connecting ECL Svc via MALTA VESSEL VOY SIN PKG JEA BND SIN NSA KHI JED DAM MAR VLC GOA MAR MLA EXT HAM ANR LEH DECKER PCLO62OS 19/03 20/03 26/03 27/03 SILVERZONE AMXII39W 20/03 27/03 29/03 03/04 06/04 09/04 12/04 14/04 16/04 SIMBER ECLI4I9W 13/04 20/04
      1,405 words
    • 1211 26 llTn EASTERN CAR LINER, LTD li_s^_—i SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS IjmjgUJjgjg^ ■y^ I R a i n p(KT) I Liltinq(KT) I SIN I PKL I KUC I LCB I JKT I SUR~ I POSITIVE PIONEER 35 100 28/03 29/03 I SHENGSHI 4_ 100 28/03 29/03 01/04
      1,211 words
    • 815 26 I WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING CONTAINERS TO ALL NORTHERN AND WESTERN INDIAN ICD POINTS VESSEL I VOY SIN I PKL (IN PORT) I [MB UCT2) I NSA (NSItT) NQRDWELLE VNWOIB 17 MAR 18 MAR 23 MAR 26 MAR StIYIJAY 030W 24 MAR 25 MAR 30 MAR 02 APR
      815 words

  • BizIT
    • 896 27 It brings on board a host of top industry partners for its offering, reports AMIT ROY CHOUDHURY NETWORKING major Cisco has unveiled its unified computing strategy which includes a new data centre architecture based on innovative services and an open ecosystem of partners. Cisco's
      896 words
    • 248 27 -LAT-WP [SAN JOSE, California] Cisco Systems announced on Thursday that it had flipped open its wallet and agreed to pay US$59O million in stock for Pure Digital Technologies, the San Francisco maker of the Flip Video camera. The device, which
      -LAT-WP  -  248 words
    • <what's up>
      • 71 27 VMWARE has appointed Andrew Dutton (above) as the new general manager for its operations in the Asia-Pacific region and Japan. In his new role, he will oversee the company's businesses across Asia and report directly to Carl Eschenbach, VMWare's executive vice-president of worldwide field operations.
        71 words
      • 84 27 SECURITY software giant Symantec is hoping to address the Achilles heel of enterprise security through a new education offensive. The company has introduced a new version of its security awareness programme to help customers spread the security imperative to their staff. Employee ignorance has consistently
        84 words
      • 80 27 FUJI Xerox will be conducting its annual DocuWorld seminar from today till March 26. Held at its Epicentre facility in Fuji Xerox Tower, the event aims to provide attendees with insights into how they improve print efficiency during crunch times and how they can
        80 words
      • 67 27 REPUBLIC Polytechnic (RP) has become the first school in the Asean region to be roped into the Red Hat Academy as well as IBM's System Z Academic Initiative. The three organisations are investing $5.45mi11i0n to enhance Linux training for RP students. Specifically, the school aims
        67 words
      • 82 27 BUSINESS software giant SAP has appointed Eric Sin as the new senior director of its business user organisation in the South-east Asia region. In his new position, Mr Sin will oversee sales, marketing, professional services and partnership functions in the region and will report
        82 words
    • 509 28  -  KENNETH JAMES THE BUSINESS OF INFOCOMM TECHNOLOGY By SINGAPORE was one of the first cities that Web content delivery leader Akamai chose to locate its servers in. Ten years on, the Republic is the company's regional hub and an increasingly important part of its
      I YEN MENG JIIN  -  509 words
    • 826 28 National Library among organisations who have embraced Singapore's first national commercial grid computing initiative, reports ONG BOON KIAT SINGAPORE'S ambition to become a global powerhouse for pay-per-use grid computing services is off to a good start, judging by the strong initial take-up of
      826 words
    • 387 28 J Reuters [NEW YORK] IBM is still in talks to buy Sun Microsystems Inc and discussions could take several more days as IBM studies various parts of Sun's computer server and software businesses, according to people with knowledge of the matter. The sources called
      J – Reuters  -  387 words
    • <what's new>
      • 125 28 ASUS has given its low-cost netbook a makeover to make it appeal to consumers who want more style for their buck. Its new Eee PC 1002Ha sports a grey finishing that comes with a touch of crystal at the hinges. The design is
        125 words
      • 83 28 SONY Ericsson wants consumers to soak in the fun with its new splash-proof mobile boombox. The new MSSOO Bluetooth speaker is designed for outdoor use with its splash-resistant casing and handy carrying strap. It's small enough to fit into a user's palm and yet promises
        83 words
      • 68 28 MAYBANK has become the latest company to catch the iPhone fever by bringing dining discounts to cardholders who are using the touch-screen handset. The company has partnered with Singapore-based buUuk for this mobile promotional drive. By installing the buUuk application, users can access a
        68 words
      • 105 28 WHEN it comes to Philips' new designer headphones, the company is banking on gender equality to spur sales. This is because the firm has tailored its headphones to exude a separate appeal for fashion-conscious males and females. The masculine version coined
        105 words
  • Page 27 Advertisements
    • 2158 27 X^l V^&gt;/ X. A.^^J M~i iJ Toll free: 1800-289-8822* Email: notices@sph.com.sg www.cats.com.sg TSIT WING INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Tsit Wing International Holdings Limited ("the Company") will be held at Sir
      2,158 words