The Business Times, 11 August 2009

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Microfilm: NL30118
Total Pages: 26
1 26 The Business Times
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  • Title Section
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    20 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg Sfili A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 197/08/2008 Tuesday, August 11,2009
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  • Article, Illustration
    Lock icon GDP may grow up to 1.8% in Q3: survey
    808 1  -  TEH SHI NING Construction sector shows least pessimism By [SINGAPORE] Business confidence is on the mend. All indicators of the latest BT-UniSIM Business Climate Survey trended upward in Q2. And, the survey's results predict that Singapore's GDP will stage a turnaround
    BLOOMBERG  -  808 words
  • Article, Illustration
    Lock icon Directors should know when to go
    764 1  -  JAMIE LEE Multiple directorships criticised again at NUS-BT roundtable By [SINGAPORE] Punk rock band The Clash probably summed up the dilemma of some independent directors (IDs) here when it sang: "Should I stay or should I go now? If I go there will be
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  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      45 1 E5O PROFILES IKM-l-I^BH NIKKEI COMMENTARY SME INC S&W Engineering, Stocks hit Star Hub special Bright outlook p jf Eternal FA 10-month high payout on the cards forKrislite PAGE 6 [SSQ^Ji I PAGE 2 PAGE 5 PAGE 8 More reports from the NUS-BT roundtable. Page 4
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • Article
        Lock icon GDP may grow up to 1.8% in Q3: survey
        47 2 ALL indicators of the latest BT-UniSIM Business Climate Survey trended upwards in the second quarter. And survey results predict that Singapore's GDP will turn around, rising by up to 1.8 per cent in the third quarter. FRONT PAGE
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      • Article
        Lock icon Directors should know when to go
        55 2 INDUSTRY players at an NUS-BT roundtable discussion have called for guidelines to state how many directorships are too many. There were calls to distinguish independent directors who hold full-time jobs from those who do not, and to discourage directors from sitting on the same
        55 words
      • Article
        Lock icon Nikkei surges to highest level since October
        60 2 A 144 per cent jump in Japan's current account surplus for June, coupled with a continuing decline in the yen, has raised hopes that exports may be recovering. Buoyed by the news, the Nikkei 225 index rose 1.1 per cent to 10,524.26 yesterday
        60 words
      • Article
        Lock icon Tailor-made insurance for Catalist firms a first
        56 2 SMALLER, newer companies may find themselves priced out of traditional insurance policies that hedge against the risks associated with listing. To fill the gap, an insurance broker has launched a risk management solution for Catalist companies or those seeking a listing on the
        56 words
      • Article
        Lock icon IMF upgrades economic forecast for South Korea
        59 2 THE International Monetary Fund has upgraded its 2009 economic forecast for South Korea for the second time in a month. The IMF's comments come after a rise in domestic bond yields as investors speculate that the recovering economy would cause the central bank
        59 words
      • Article
        Lock icon New upbeat outlook for recovery in Asia, BRIC
        55 2 GOLDMAN Sachs has raised its forecast for Asian growth this year and next, based on a stronger outlook for the US and China. And KPMG says its twice-yearly survey on manufacturing sentiment in the BRIC economies shows a large jump in business
        55 words
      • Article
        Lock icon Fall in loans seen as China clamps flow
        64 2 CHINA'S new lending in July may have fallen to a third of June's level as banks sought to limit credit risks and slow the flow of money into stocks and property. New loans cooled to 500 billion yuan (Sslos billion), from 1.53
        64 words
      • Article
        Lock icon Weak monsoon may reduce India's growth
        69 2 A WEAK monsoon may shave as much as one percentage point off India's economic growth this year, an adviser to Prime Minister Manmohan Singh said on Sunday. India's monsoon rains, the main source of irrigation for the nation's 235 million farmers, have been below
        69 words
      • Article
        Lock icon FCC mulls need for cellphone handset rules
        63 2 THE chairman of the Federal Communications Commission, appointed by US President Barack Obama and encouraged by some members of Congress, is weighing whether new rules are needed to govern cellphone handsets. The commission is asking whether wireless carriers should be able to sign
        63 words
    • Article, Illustration
      Lock icon Nikkei surges to highest level since October
      543 2  -  i ANTHONY ROWLEY Jump in current account surplus for June, yen's decline raise recovery hopes By in Tokyo TOKYO stock prices hit a 10-month high yesterday as a 144 per cent jump in the Japanese current account surplus for the month of June,
      REUTERS  -  543 words
    • Article
      Lock icon Guaranteed bonuses return to Wall St as pay review starts
      687 2 ■NYT Issue underscores difficulty of curbing pay by Obama team [NEW YORK] A guaranteed bonus might strike many people as a contradiction in terms. But on Wall Street, banks have become so eager to lure and keep top deal-makers and
      ■NYT  -  687 words
    • MARKETS DIGEST
      • Article
        Lock icon MARKETS
        49 2 londay Closed lange iT Index 1 COMP 1,188.00 +3.12 IIKKEI225 10,524.26 +112.17 IANG SENG 20,929.52 +554.15 ;et index 643.75 -0.45 JAKARTA COMP 2,389.56 +40.14 1ANILA COMP 2,850.58 +67.60 ;eoulcomp 1,576.11 +0.11 ;henzhenb 538.27 +1.09 IUMBAI IND 15,009.77 -150.47 12 noon EDT Cham )OW 9,342.41 -27.66 IASDAI 1,992.72 -7.53
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 16.029 TAIWAN 4.776 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.52 INDIA 11.75 Source: Bloomberg
        Bloomberg  -  29 words
      • Article
        Lock icon FOREX
        43 2 IS$ (S$ per US$) 1.437 JUS: i/S: per£) 1.673 2.405 EURO (US$,S$/E) 1.436 Foreign currency per US$ 2.063 S$ 'EN 95.40 66.4I 3.502 2.43 IK$ 7.750 5.393 !AHT 33.98 23.6. lUPIAH 9,920 6,903 lENMINBI 6.832 4.75. INDIAN RUPEE 47.90 33.33 1.194 0.831
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    • Article, Illustration
      Lock icon Finding a way out of the financial crisis
      788 3  -  PAULINE NG Mill isters at symposium stress need to go beyond palliative action By in Kuala Lumpur HEFTY government spending may have helped avert a global depression, but the more arduous task now is convincing consumers and businesses that growth can be
      BLOOMBERG, ST FILE PHOTO  -  788 words
    • Article
      Lock icon China property sales leap 60% in first 7 months
      509 3 Bloomberg Concern over asset bubbles brought on by record lending [BEIJING] China's property sales surged 60 per cent in the first seven months amid concern that record lending will stoke asset bubbles in the world's fastest-growing major economy. The gain in
      – Bloomberg  -  509 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      517 2 Banking Laws and Regulations Dates Compliance is taking on a more prominent role within financial institutions. This is Wednesday, 16 September 2009 especially so with the recent changes in the regulatory environment. 1.45pm to 5.45pm An essential prerequisite for successful compliance is education and training. Thursday, 17 September 2009 9.00
      517 words
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      Lock icon Page 2 Advertisements Column 2
      101 2 Fantasy Waterbeds Pte Ltd '^-Hfe Where Sleep Matters. Take a permanent break from your aches, /-~px Designed for maximum comfort to .A.. soothe the most tired and aching I \~J ~J j muscles, you can finally experience V J 1 1* complete holistic sleep and all the X^^^^S lf^ benefits
      101 words
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  • Page 3 Advertisements
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      60 3 A Sense of Refined Pleasure Immerse the connoisseur in you with the best culinary delights of the world. From specialty daily staples to delicate cheese varieties, premium luxury wines and a host of exquisite bites, your haute couture gourmet shopping experience starts now. IB Wg?W^ m^i^luir Now Open lON Orchard.
      60 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Potential liabilities may return to haunt IDs
      669 4  -  JAMIE LEE BT-NUS ROUNDTABLE They should at least record views in meeting minutes to protect themselves Reports by INDEPENDENT directors (IDs) need to be aware of the potential liabilities they may face, participants at last week's BT-NUS roundtable discussion said. "We teach that
      STOCK.XCHNG  -  669 words
    • Article
      Lock icon Director resignations: How it's done
      256 4 NUS Corporate Governance Financial Reporting Centre SINGAPORE SGX introduced a new announcement template for director resignations; previously these were lumped under "miscellaneous" announcements. Chapter 7 of the listing rules requires companies to disclose the information set out in the announcement template, including detailed reasons for
      NUS Corporate Governance & Financial Reporting Centre  -  256 words
    • Article, Illustration
      Lock icon Hard for IDs to disclose quitting reasons
      456 4 Doing so makes them the difficult guy, may dim their prospects BREAKING up is hard to do, and that certainly applies to independent directors (IDs). "In many instances, those contemplating resigning are in a difficult position," said Lee Suet Fern, managing partner of
      YEN MENG JIIN  -  456 words
    • Article
      Lock icon Second quarter score
      80 4 /BT In the black In the red 103 11 23 As of Friday, 126 SGX-listed companies had released their financial results for the second quarter ended June 2009. They recorded a combined 552,848.6 m in group profits. The breakdown is as follows Compiled by o with profits
      /BT  -  80 words
    • Article
      Lock icon Half-time score
      92 4 /BT In the black In the red 120 11 38 As of Friday, 158 SGX-listed companies had released their financial results for the six months ended June 2009. They recorded a combined 556,425.4 m in group profits. The breakdown is as follows Note: Net profit refers to profit
      /BT  -  92 words
    • Article, Illustration
      Lock icon StarHub special payout on the cards
      684 5  -  WINSTON CHAI STARHUB has been quietly building its cash reserves even as credit streams dried up for many companies during the economic downturn. But with its coffers now swelling past normal levels, the market is starting to expect more active capital management measures from
      BLOOMBERG FILE PHOTO  -  684 words
    • Article
      Lock icon Tailor-made insurance for Catalist firms a first
      619 5  -  LYNETTE KHOO By SMALLER, newer companies may find themselves priced out of traditional insurance policies that hedge against the risks associated with listing. Identifying this gap, insurance broker Marsh has launched a risk management solution called Rapid Growth Secure, designed specifically for Catalist
      619 words
  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      243 4 Breakfast Talk Series lg| i \How do SME identify the opportunities of the silver \^jtjl ■/linings in the dark clouds? Arc we out of the woods yet? Since the early months of this year, there lias been much talk about "green Friday, 4 September 2009, shoots" and no less about
      243 words
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      Lock icon Page 4 Advertisements Column 2
      21 4 CHARTING DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. MATS NOTICES Ml
      21 words
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  • Page 5 Advertisements
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      224 5 NEA-MediaCorp jgg<w on 8 August 2009 -M Towards a GREENER and BETTER future 'j V|^ E/f«^ 9^^S^ Tftanto to the generosity of the following donors, the event has raised $359,000 to support environmental and social causes. Jointly organised t>y Donors of $10,000 and above: National Carlsberg Singapore Pte. Ltd. Chan
      224 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon HR functions get more complex amid slowdown
      578 6  -  LEE U-WEN Raising staff morale, cost-effective use of talent become more important: Kelly CEO By ner. Mr Camden told BT that when the chips are down, companies are even more compelled to become more aggressive about quality. US-based Kelly Services is a Fortune
      578 words
    • Article, Illustration
      Lock icon Forging a path of his own
      740 6  -  When partnerships fail, S&W Engineering's Wong Chung Kang just presses on, reports KWEK LI EN LYNN, NGUYEN BAO THU, NUR KHAIRAH BTE ABDUL RAHIM and VO HOANG DUNG "EITHER I will find a way, or I will make one." This seems to be the
      JOHNHENG  -  740 words
    • Article, Illustration
      Lock icon Taking better care of clients' needs
      1074 6  -  Freddy Sim and Viviena Chin left stable agency jobs to found their own independent financial advisory firm. They share their experience with LEE GHIM MENG RENNY, LIM BOON HOW ALASTAIR and LIM SWEE HON ROBIN EXPLAINING the difference between independent financial advisory firms (IFAs)
      ARTHUR LEE  -  1,074 words
  • Page 6 Advertisements
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      71 6 ENTERPRISE Celebrating Singapore's Enterprising Spirit 2009 Published every Tuesday and Thursday, this series is part of the Enterprise 50 Educational Project between the E5O partners and the NUS Business School. Both S&W Engineering and Eternal Financial Advisory were among the E5O winners in 2008. The annual E5O ranking is co-organised
      71 words
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  • SMEInc
    • Article, Illustration
      Lock icon Bright outlook for Krislite
      891 8  -  The lightmaker has gained much from developing its own products and streamlining its overseas approach, reports TEH SHI NING EVER since Thomas Edison invented the lightbulb, the quest to produce brighter, better, and now, greener lights has fired competition among light-makers. That intense competition is certainly
      ARTHUR LEE  -  891 words
    • Article, Illustration
      Lock icon Printers band together to woo Japanese publishers
      640 8  -  LI DAN WEI By A GROUP of companies from the Print Media Hub (PMH) has formed a consortium to use one another's strengths to penetrate the Japanese market. PMH is a purpose-built industrial zone that brings together more than a dozen printing players,
      YEN MENG JIIN  -  640 words
    • Article, Illustration
      Lock icon Restructured for strength
      670 9  -  SMALL CAPS Koon's new CEO put in place organisational changes for the better, reports BRANDON CHEW A NEWCOMER seems to be shaking things up at construction firm Koon Holdings as the company prepares to diversify and deepen its businesses. Tan Thiam Hee, who has been CEO since
      YEN MENG JIIN  -  670 words
    • Article
      Lock icon Portfolio does far better than STI
      402 9  -  TEH HOOI LING By DESPITE significant profit-taking in the past week, some small cap stocks retained part of their gains of the past fortnight. Compared with July 20, our small cap portfolio is up 7.8 per cent exceeding the 3.8 per cent gain by
      402 words
    • Article, Illustration
      Lock icon Growing with help of technology
      1024 10 IT systems and solutions can help SMEs to integrate their processes, weed out inefficiencies and increase productivity INSTEAD of hunkering down during an economic crisis, successful businesses tend to look for opportunities to bolster their capabilities and to position for the next wave of growth.
      1,024 words
  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      164 8 Call 6-594 7594 now for the IT Specialists FnrP^t IT Microsoft mMAMM WjWNJ OLUI IC lUI COL I I GOLD CERTIFIED WfiwM BUMi www.StoneForestlT.com.sg Partner g^y^^g jgg^^ B^ Planning your group retreat? Be it corporate incentive, conference packages, teambuilding, free easy..... Book your group retreat with us today! The Leading
      164 words
  • Page 8 Miscellaneous
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  • Page 9 Advertisements
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      29 9 Supported By: Nigeria High Commission MM 143 Cecil Street, #15-01 GB Building .'X?Sfe^? fi»,| Ga^ Singapore *****2 IllU J Sponsored by Vlgf Tel: 6732 1743,6220 7346 "^mS^- Tolaram Group
      29 words
    • Advertisement
      Lock icon Page 9 Advertisements Column 2
      193 9 A member of psb Acader It's about keeping pace with a tumultuous business world. Equip yourself with updated knowledge and a prestigious MBA to move ahead in your career. PSB Academy and The University of Nottingham believe in bringing relevant learning to managers and professionals who are both discerning and
      193 words
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      2097 10 w WATS JL^I JL JL^_J 1 Toll free: 1800-289-8822 Email: notices@sph.com.sg www.cats.com.sg IN THE MATTER OF IN THE MATTER OF I I IN THE MATTER OF I 1 THE COMPANIES ACT, CAP. 50 THE COMPANIES ACT, CAP. 50 INTHEMATTEROF THE COMPANIES ACT CAP 50 VOLKSWAGEN FINANCIAL SERVICES SINGAPORE LTD. AND
      2,097 words
    • Advertisement
      Lock icon Page 10 Advertisements Column 2
      28 10 HOT IPO I Attract more interest I from investors. Place I your IPO notice in our I newspapers. Call I 1800 289 8822 or email I notices@sph.com.sg. I
      28 words
    • Advertisement
      Lock icon Page 10 Advertisements Column 3
      17 10 Lianhe Zaobaol Analysts I remain h upbeat If despite 111 falling 1 STI 1 last week R
      17 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      107 10 We are extending the deadline for last week's topic: "Do you think it is a good time to raise capital either through private investors or share markets now? If your company is not listed, do you have plans to do so in the immediate future?" If you are an SME
      107 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon IMF upgrades economic forecast for South Korea
      508 11 Reuters Macroeconomic policy expected to support growth until sustained recovery [SEOUL] The International Monetary Fund (IMF) has upgraded its 2009 economic forecast for South Korea for the second time in a month, and said that concerns about rising housing prices can be best
      – Reuters; AFP  -  508 words
    • Article, Illustration
      Lock icon Japan banks urged to offload shares on govt
      622 11 Bloomberg Sales at market price won't affect stock values [TOKYO] Japanese banks should take advantage of a state-backed purchase programme to cut stock portfolios that caused US$lO billion of losses at the nation's three biggest lenders last year, the country's top financial
      Bloomberg; AP, REUTERS  -  622 words
    • Article
      Lock icon New upbeat outlook for recovery in Asia, BRIC
      574 11 Bloomberg, Reuters Goldman sees bigger Asia GDP; big output jump in BRIC: KPMG [BEIJING] The prospects for an economic recovery received a further boost yesterday from surveys by two key private firms. Goldman Sachs raised its forecast for Asian economic growth this
      Bloomberg, Reuters  -  574 words
    • Article, Illustration
      Lock icon Indonesia Q2 GDP grows 4%, slowest in 6 years
      520 11 AFP Reuters [JAKARTA] Indonesia's economy grew 4 per cent in the second quarter, its slowest annual pace in nearly six years but faster than expected, strengthening the case for the central bank to end its monetary easing cycle. A Reuters poll
      AFP; ■ Reuters  -  520 words
    • Article
      Lock icon Bernanke should be reappointed to Fed: Krugman
      451 11 Bloomberg [KUALA LUMPUR] Ben S Bernanke deserves another term as US Federal Reserve chairman based on his success in battling the financial crisis, said Princeton University economist Paul Krugman, a winner of the Nobel Prize. "He's earned the right to a second term,"
      Bloomberg  -  451 words
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  • GREATER CHINA
    • Article
      Lock icon Fall in loans seen as China clamps flow
      748 13 Bloomberg There's concern that loans meant for infrastructure are going to speculators [SINGAPORE] China's new lending in July may have fallen to a third of June's level as banks sought to limit credit risks and slow the flow of money into stocks
      Bloomberg  -  748 words
    • Article
      Lock icon Funds bank on China's interest in Taiwan
      399 13 -Reuters [TAIPEI] Global private equity funds have found a window of opportunity to invest in Taiwan's financial sector, making acquisitions with the hope of turning a profit when the market opens to China Inc in the years to come. "It's a matter of
      -Reuters  -  399 words
    • Article, Illustration
      Lock icon Investors crave stability as Shanghai stocks rocket
      536 13 -AFP Market's reliance on govt policies result in wild gyrations [SHANGHAI] Chinese shares have soared nearly 80 per cent this year, dwarfing New York's 5.5 per cent rise, but investor Wu Jianshan says he would trade Shanghai's swings for Wall Street's stability. The
      -AFP; AP  -  536 words
    • Article
      Lock icon Yanzhou Coat Felix Resources seal takeover: source
      360 13 Reuters [SYDNEY] China's Yanzhou Coal has reached an agreement with Australian coal miner Felix Resources Ltd on a potential takeover transaction, a source familiar with the matter told Reuters on Monday. "The details and the terms of the agreement are not known yet,
      Reuters  -  360 words
    • Article
      Lock icon Essay on Rio's actions used published data: author
      461 13 Bloomberg, Reuters [BEIJING] The author of an editorial linking Rio Tinto Group's actions in China to 700 billion yuan (*****.3 billion) in excess charges for the steel industry said that the article was his own opinion and used previously published data. Jiang
      Bloomberg, Reuters  -  461 words
    • Article, Illustration
      Lock icon Controlling shareholder to sell 29% of Lenovo parent
      365 13 Reuters [BEIJING] The controlling shareholder of Lenovo's parent company wants to sell nearly half of its holdings, as it looks for strategic partners to help bolster the firm's business, a spokeswoman said yesterday. The asset management unit of the Chinese Academy of
      ■ Reuters; AP  -  365 words
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  • INDIA
    • Article
      Lock icon Weak monsoon may reduce India's growth
      561 14 Bloomberg It may shave one percentage point off GDP; adviser sees expansion of 6% [KUALA LUMPUR] A weak monsoon may shave as much as one percentage point off India's economic growth this year, an adviser to Prime Minister Manmohan Singh said on Sunday. "The
      – Bloomberg  -  561 words
    • Article, Illustration
      Lock icon Lower rain forecast keeps crop prices stoked
      611 14 Bloomberg [MUMBAI] India's monsoon rains, the main source of irrigation for the country's 235 million farmers, may be the weakest in five years, curbing output of sugar and rice and stoking global commodity prices. Rain in the June-Septem-ber season will be 87 per
      – Bloomberg; REUTERS  -  611 words
    • Article
      Lock icon Indian car sales climb in July, expected to pick up
      548 14 Reuters [NEW DELHI] Indian car sales should pick up, helped by upcoming festive season demand after they climbed for a sixth successive month in July, propelled by new launches and a revival in bank financing, industry and analysts said yesterday.
      Reuters  -  548 words
    • Article
      Lock icon India's sugar policy hurts those it wants to help
      815 14 -NYT Delhi may import 20 to 30% of sugar it uses this fiscal year [LONI KALBHOR, Maharashtra] Sanjay Gujar's family has raised sugarcane for generations. But last year, after sugar prices fell by more than 40 per cent, he replanted his
      -NYT  -  815 words
    • Article, Illustration
      Lock icon Finishing schools coming up in India to teach soft ski Is
      616 14 AFP Aim is to fill gap in graduate education for business success [MUMBAI] The traditional image of finishing schools is of the Swiss Alps, where young ladies from well-to-do families learn to walk, talk and make conversation before entering
      AFP  -  616 words
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  • ASIA-PACIFIC/WORLD
    • Article
      Lock icon Commercial property on Fed radar
      748 15 Bloomberg Fall in values makes it tough for owners to refinance almost USsl6sb of mortgages [WASHINGTON] The collapse in commercial real estate is preventing Federal Reserve chairman Ben Bernanke from declaring that the economy and financial markets are healed. Property values have fallen 35 per
      Bloomberg  -  748 words
    • Article
      Lock icon UK insurer Friends in talks after new bid by Resolution
      247 15 [LONDON] Friends Provident, the 177-year-old UK life insurer, has entered into discussions with Resolution Ltd after receiving a revised offer that values the company at £1.86 billion (554.47 billion). Resolution, the buyout company founded by insurance entrepreneur Clive Cowdery, offered
      247 words
    • Article, Illustration
      Lock icon Global stocks face 30% correction this year, says Mobius
      463 15 Bloomberg [KUALA LUMPUR] Mark Mobius said global stocks will drop as much as 30 per cent after advancing from multi-year lows and as companies increase share sales. "When you have these rapid increases, almost without correction, you will definitely have a
      Bloomberg; BLOOMBERG  -  463 words
    • Article
      Lock icon Mitsubishi Chem to buy Mitsubishi Rayon: report
      449 15 Deal will help consolidate Japan's chemicals sector [TOKYO] Mitsubishi Chemical Holdings is in talks to buy smaller rival Mitsubishi Rayon for up to US$2.l billion, the Nikkei business daily reported, in a move that would help consolidate Japan's overcrowded chemicals sector. A spokesman
      449 words
    • Article
      Lock icon Bankers seek UK panel to oversee debt workouts
      416 15 Reuters [LONDON] Bankers are calling for a new London panel to help smooth the restructuring of hundreds of billions of pounds of debt and prevent further ugly fights before courts between lenders. The group, modelled on the Takeover Panel, would help prevent
      ■ Reuters  -  416 words
    • Article
      Lock icon Debt deals prove lucrative for foreign banks in South Korea
      647 15 Reuters Debt offering fees rise as firms pay up for US dollar bond issues [SEOUL] In a country where investment banking fees are famously low compared to other centres, foreign banks in Seoul are finding that debt deals are lining
      Reuters  -  647 words
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  • WORLD
    • Article, Illustration
      Lock icon Energy tussle in Nigeria, Angola
      628 16 Bloomberg, NYT Europe, US firms still dominate, putting paid to talk of Asian takeover: Chatham [LAGOS] Asian oil companies have yet to shake the dominance of European and US energy producers in Nigeria and Angola, according to a Chatham House report. "In spite of fears
      Bloomberg, NYT; REUTERS  -  628 words
    • Article
      Lock icon Vast expanses of Arctic ice melt in heat
      499 16 AP [TUKTOYAKTUK, Northwest Territories] The Arctic Ocean has given up tens of thousands moresquare kilometres of ice in a relentless summer of melt, with scientists watching through satellite eyes for a possible record low polar ice cap. From the barren Arctic shore
      AP  -  499 words
    • Article
      Lock icon Carbon offset projects spring up across US
      705 16 Reuters [COYOTE RIDGE NATURAL AREA, Colorado] Amanda Sutton looks over a wheat field in northern Colorado and sees a potential "carbon offset project" that could help curb greenhouse gas emissions linked to global warming. "This is a patch of highly cultivated land that
      – Reuters  -  705 words
    • Article, Illustration
      Lock icon USAA accepts cheque deposits by cellphone
      592 16 ■NYT iPhone application lets customer takes photo of the cheque [NEW YORK] The Internet has taken a lot of the paperwork out of banking, but there is no avoiding paper when someone gives you a cheque. Now, one bank wants to let customers deposit
      ■NYT; AP  -  592 words
    • Article
      Lock icon Second Saint Laurent art sale set for Nov
      379 16 -Reuters [PARIS] A second auction of art works once belonging to Yves Saint Laurent will be held in November after the main part of the late designer's huge collection was sold earlier this year, auctioneers Christie's said yesterday. As well as modern
      -Reuters  -  379 words
    • Article, Illustration
      Lock icon FCC mulls need for cellphone handset rules
      608 17 ■NYT It is asking whether carriers can sign deals to offer some handsets exclusively [WASHINGTON] The chairman of the Federal Communications Commission (FCC), appointed by US President Barack Obama and encouraged by some members of Congress, is weighing whether new rules are needed
      ■NYT; AP  -  608 words
    • Article, Illustration
      Lock icon Publicis to buy M'soft's Razorfish for US$530m
      460 17 -AP [NEW YORK] French advertising company Publicis Groupe has agreed to buy Microsoft Corp's digital advertising firm Razorfish as part of an effort to boost its share of advertising on the Web, according to a joint statement released on Sunday. The deal is
      -AP |; AP  -  460 words
    • Article
      Lock icon Nomura seeking US$l b for former Lehman fund
      620 17 Bloomberg Internal hedge fund starts marketing to investors next year [HONG KONG] Global Opportunities Group, a hedge fund with roots to Lehman Brothers Holdings, is seeking to triple assets to US$l billion next year by raising capital from outside investors for the
      Bloomberg  -  620 words
    • Article
      Lock icon AIG returns to profitability in Q2 as hedge funds gain
      693 17 Bloomberg [NEW YORK] American International Group (AIG), the insurer bailed out by the US, benefited from hedge funds for the first time in a year as the company returned to profitability in the second quarter. AIG earned US$l2l million from
      – Bloomberg  -  693 words
    • Article
      Lock icon Magazines get creative to rake in advertising revenue
      513 17 -NYT Some sell ad space on front covers, others include pouches [NEW YORK] Before the recession, magazines had little in common with marsupials. Now, though, magazine covers are starting to sport pouches. For instance, the cover of the September issue of a
      -NYT  -  513 words
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  • AVIATION
    • Article
      Lock icon Burnt by fuel costs, airlines relook hedging strategies
      713 18 Reuters US, European carriers ramping up hedges again as crude price climbs [CHICAGO] Top US and European airlines, groping for a toehold on recovery amid economic downturns, are adjusting their fuel-hedge strategies to control that huge expense, which has been climbing higher.
      ■ Reuters  -  713 words
    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      2766 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 l[0\l] Airlr!ne Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), Bl: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines
      2,766 words
    • Article, Illustration
      Lock icon Bizjet demand up, too soon to call recovery
      470 18 Reuters [ATLANTA] Business jet demand is beginning to pull out of a months-long dive, but it is too soon to call a recovery for this hard-hit market segment. Business jet makers and suppliers, which cut production and jobs as demand tumbled after
      Reuters; FILE PHOTO  -  470 words
    • Article, Illustration
      Lock icon Ryanair continues grabbing market share during recession
      773 18 Reuters [DUBLIN] Allow passengers to travel free if they stand, charge them to use the toilet and penalise plump travellers with a "fat tax": is this the future business model of the aviation industry? It may well be if Irish cost-cutting champion Ryanair
      Reuters; BLOOMBERG  -  773 words
  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      375 18 CRYPTIC CROSSWORD ACROSS m m outside of food (8) I I 9I am favourite I start to HI J find a reason to scratch (8) r" I 10 Alarming sound in French BHTi 11 Exchanging words with sen- II ding off earns a reprimand Pfl P^ P^ P^ H^T^ 13
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  • SHIPPING
    • Article
      Lock icon Sharp rise of 10m barrels in oil storage offshore
      580 19 Reuters Widening of oil price structure in crude futures makes such holdings profitable [NEW YORK] The amount of crude oil being stored at sea has risen sharply over the last two weeks, particularly in the US Gulf, due to a price
      Reuters  -  580 words
    • Article
      Lock icon LNG tanker detained over disposal probe
      223 19 AFP [LONDON] British authorities used new powers for the first time on Friday to prevent a ship from leaving port over suspicions it was on its way to being dismantled illegally abroad. The Margaret Hill, a 50,700-tonne liquefied natural gas tanker, was detained in
      AFP  -  223 words
    • Article
      Lock icon Swire Shipping to pay Australia As2sm for spill
      303 19 Reuters [SYDNEY] UK-based Swire Shipping said on Saturday that it had reached a deal with the Australian government on compensation for an oil spill this year which hit pristine tourist beaches in north-eastern Australia. The shipping firm will pay As2s million (5530.3
      Reuters  -  303 words
    • Article, Illustration
      Lock icon Weak US$ helping luxury boat-builder stay afloat
      599 19 Reuters [GULFPORT, Mississippi] Recession has shaken nearly every corner of the US economy but Trinity Yachts is still turning out cus-tom-built luxury boats, thanks in part to a sagging US dollar. Trinity, the largest US mega-yacht builder, will deliver eight sumptuously outfitted boats
      ■ Reuters; REUTERS PHOTOS  -  599 words
    • Article
      Lock icon Between the devil and the deep blue sea
      719 19 AFP Dhow crews fear pirates but have no other income source [SALAYA, India] Building and sailing wooden boats or dhows has been the mainstay of local life and work for generations in the village of Salaya, on India's western Gujarati coast. The
      AFP  -  719 words
    • Article
      Lock icon Gradual recovery seen for LNG shipping
      461 19 Reuters [SINGAPORE] Liquefied natural gas (LNG) shipping is likely to embark on a gradual recovery, with the worst now over, thanks to new liquefaction projects coming online, energy consultancy Wood Mackenzie said. The first six months of this year were dire for LNG shipowners
      Reuters  -  461 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Robust political debate in Japan
      484 20 THE Democratic Party of Japan, forged by veteran politician Ichiro Ozawa from a disparate collection of people into a political force capable of taking over the reins of government, could well have entitled its election manifesto "There is another way". Thus, when the Democrats proposed
      484 words
    • Article, Illustration
      Lock icon India needs to secure its water future
      1078 20  -  YOGI AGGARWAL An economic think tank has lowered its GDP forecast due to the failure of the monsoon INDIA is more than halfway through the 2009 monsoon and, so far, it has suffered poor rainfall with a fifth of the country facing drought
      AFP  -  1,078 words
    • Article, Illustration
      Lock icon What a difference 0.1 percentage point makes
      738 20  -  LEON HADAR THE BOTTOM LINE KEEPING score in Washington, not unlike on Wall Street, is possible only if we recognise that "winning" or "losing" in political battle as in financial combat reflects one's success or lack of in beating the expectations game, in
      738 words
    • Article, Illustration
      Lock icon Impact of China's 'second rise7
      2256 21  - Impact of China's 'second rise 7 SHAHID JAVED BURKI There're three possible scenarios for global economy and all will have considerable outcomes for South Asia By THERE is now a consensus among policy analysts all over the world that China is well on its way to becoming a global economic
      REUTERS  -  2,256 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      369 22 In local curr In S$ In USS %dy %yr dy yr dy yr Index Change Change Change Change Change Change Aug 7 World Index Preliminan 766.0 1.1 13.0 0.8 15.6 0.5 15.7 EAFE Preliminai 730.0 0.6 12.5 -0.2 16.7 -0.5 16.: Euro[ Preliminan 1013.5 1.1
      369 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      131 22 As at 9am Aug 7 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1960 1.2320 Can dollar 1.3260 1.3410 Euro 2.0510 2.0750 NZ dollar 0.9560 0.9760 iterlini ind 2.3980 2.4250 US dollar 1.4280 1.4440 Local dollars to 100 units of foreign
      131 words
    • Article
      Lock icon INTERBANK RATES
      171 22 Aug 7 fer Overniqhr 1-monrli 2-monrhs 3-monrhs Overnighr mode: 3/8 us$ 0.08 7/16 9/16 11/16 Offer 0.03 3/16 5/16 7/16 Bid 7 days 1 monrh 2 monrhs 3 monrhs 6 monrhs 9 monrhs 12 monrhs $Au 0.35 0.39 0.50 0.60 0.95 1.50 1.60 Offer 0.25 0.29 0.30 0.40
      171 words
    • Article
      Lock icon STOCK INDEX FUTURES
      25 22 Aug 10 ten iTI Aui closed ilMSCI Aui 304.2 307.1 closed "aiwan Aui 249.4 250.4 248.8 Source: MF Global (S) Pte. Ltd
      25 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      23 22 Aug 7 I s» Bid Offer 1-month 1.4365 1.4380 2-months 1.4366 1.4381 3-months 1.4367 1.4382 6-months 1.4368 1.4385 Source: OCBC
      23 words
    • Article
      Lock icon SICOM FUTURES
      195 22 Aug 7 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Month High Low Close Sett Volume (lots) O/l (lots) Sep 09 197.5 Oct 09 196.0 Nov 09 195.6 Dec 09 195.5 Jan 10 Feb 10 197.0 194.5 195.5 194.0 197.5 196.0 195.6 195.6 196.0 196.0 120 46 80
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    • Article
      Lock icon GOVERNMENT SECURITIES
      89 22 Aug 7 IftCMaUftT DILL3 Period Issue code Maturity Yesterday's Bid Hii Day's |h Low 3-Month BQ*****E 05.11.09 1-Year BY*****W 03.05.10 0.29 0.35 0.27 0.24 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year NX*****H 3.625 5-Year NX*****F 3.625 7-Year N*****0S 2.875 10-Year NX*****W
      89 words
    • Article
      Lock icon CHICAGO BOT
      104 22 Aug 7 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 09 1184.50 1170.50 1192.00 1160.50 Sep 09 1090.50 1079.50 1097.25 1069.25 Nov 09 1038.50 1030.00 1046.75 1020.00 Jan 10 1041.25 1034.00 1049.00 1025.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Aug 09 36.78 36.83 37.27
      104 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      77 22 CRUDE OIL PRODUCTS Aug 7 CRUDE (FOB origin) USS/barrel Close Cham Brent blend (1-Mth F) 74.71 -0.07 WTI (Near Mth) 70.78 -1.16 Dubai (1-Mth F) 72.42 -1.01 Tapis blend 79.25 -1.00 Minas 76.75 -0.70 PRODUCT USS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 70.22 81.00 -1.83 -0.80 USS/barrel Opec Oil
      77 words
    • Article
      Lock icon INTERBANK CROSS RATES
      464 22 Aug 7 AS CS Rmb Euro HKS IndRsRu Yen Won RM NZS Pak Rs Peso SS Rand Sfr NTS Baht Pound us: Australia 0.903 5.722 0.583 6.491 40.112 83.080 0.799 10.293 2.933 1.248 68.943 39.949 1.203 6.801 0.892 27.424 28.454 0.500 0.838 Canada 1.108 6.339 0.646 7.191
      464 words
    • Article
      Lock icon SIBOR
      79 22 Aug 7 (U35J (35) 0.***** 0.***** 1 mth 2 mths 0.***** 0.***** 6 mths 1.***** 9 mths 1.***** 12 mths 1.***** 3 mths 0.***** 0.***** 6 mths 9 mths 12 mths 0.***** 1.***** 1.***** 0.***** 0.***** 0.***** SWAP Mid rates (S$) 1 yr 1.***** 2yrs 1.***** 3yrs 2.***** 4yrs
      79 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      157 22 Aug 7 Against SS Currencies Bid Offer Against USS Bid Offer S$IUS$ to one unit of foreign currency: Australian dollar 1.2026 1.2044 0.8373 0.8377 Canadian dollar 1.3324 1.3342 0.9276 0.9280 Euro 2.0618 2.0645 1.4355 1.4360 NZ dollar 0.9635 0.9651 0.6708 0.6713 Sterlini 2.4031 2.4061 1.6731 1.6731 US
      157 words
    • Article
      Lock icon PRECIOUS METALS
      166 22 Aug 10 GOLD (USS/oz) Aui W Aui 07 GOLD BULLION COINS (SS) Sellini Hong Kong 952.80 957.80 953.80 958.80 Aug 07 Aug 06 London 956.80 965.80 957.80 966.80 Source: Thomson Reuters (SS) Selling Buying 1 oz 1539.73 1391 UBS GOLD LUNAR KINEBAR (SS) Selling Buying 10gm $539.28 443
      166 words
    • Article
      Lock icon LONDON METALS
      69 22 Aug 7 Aluminium, 99.7% purity (USS/tonne) Close Previous Cash 1988.75 1961.25 3 months 2020.00 1990.00 Copper, Grade A (USS/tonne) Cash 3 months 6141.00 6150.00 6017.50 6025.00 Lead (USS/tonne) Cash 1883.75 3 months 1900.00 1839.00 1855.00 Nickel (USS/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (USS/tonne) Cash *****.00
      69 words
    • Article
      Lock icon LIFFE
      77 22 Aug 7 COCOA (£/tonne) Close Prev Hii ih/Low Sep 09 1775 1745 1779/1741 Dec 09 1802 1773 1810/1767 Mar 10 1807 1778 1814/1771 May 10 1802 1769 1805/1766 COFFEE (USS/tonne) Close Pev High/Low Sep 09 1491 1494 1500/1413 Nov 09 1513 1516 1525/1441 Jan 10 1525 1529 1529/1450 SUGAR
      77 words
    • Article
      Lock icon PALM OIL
      62 22 Aug 10 Delivery Month Opening Range Sett Av Price Price Hii Vol Open Done Position Low Aug 09 2435 2440 2435 2435 10 222 Sep 09 2328 2420 2440 2328 1792 7872 Oct 09 2380 2400 2424 2354 9587 ***** Nov 09 2355 2395 2415 2347 3988 *****
      62 words
    • Article
      Lock icon SGX DERIVATIVES TRADING
      288 22 Aug 10 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep09 Dec09 Mar10 Jun10 99.5200 99.2150 98.8150 98.3350 6854 3058 3605 3372 EURQYEN TIBOR FUTURES Sep09 99.470 99.470 Dec09 99.465 99.465 Mar10 99.460 99.460 Jun10 99.450 99.450 Sep10 DedO Mar11 Jun11 99.465 99.465 99.460 99.450 99.470 99.475
      288 words
    • Article
      Lock icon BONDS, WARANTS & EXTENDED SETTLEMENT
      2402 22 BONDS, WARANTS EXTENDED SETTLEMENT rei lode Company Last Sale Vol Conv Exer +or- ("000) Ratio Price Disc Gear- Mths ing Left Asia-Pacific Strategic W*****6 4 -0.5 848 15 3 4.63 57 >036 Advance SCT Ltd W*****9 0.5 87 1650 10.00 12 S092 Asia Environment W*****4 0.5 38 67 46.00 D
      2,402 words
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      Lock icon Page 23 Advertisements Column 1
      2716 23 The Business Times Sim ngTimes F^^^^^^^MBli^^ Direct Calling to TWTPE UK CONTINENT SERVICE U.S.A SERVICE IfcllllMl Cnlllirinil Destination Destination uVuIV Ulllllll Utljl STXPO TBN RTM/ANR/TIL STXPO TBN NOL/NFK/SAV/CDN Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia idlllvlli I lIV VA Oil I™ O UdjJW Ull Ijjl MIDDLE-EAST SERVICE F.E./S.E.A
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  • Page 24 Advertisements
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      Lock icon Page 24 Advertisements Column 1
      4341 24 F^^^^^^^^^^^^^^^^^Hl I Inn EASTERN CAR LINER, LTD I l^^ffißQDßjM u[—!_— I SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS EmEM B|M||MlM|iii|B mSSMEMittttttttttW. V 0» I tHaim I "lliM(KII I MNL I MUA I SIN I PKL I JKT I SURA~| VOY IIA IID DISIINAMN PCL/PHL SERVICE AMX SERVICE Connecting ECL
      4,341 words
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  • PRORETY
    • Article, Illustration
      Lock icon Dublin to provide guarantee for home loans
      625 25 ■AFP It will create agency to buy up bad property loans at discount from banks [DUBLIN] The Irish government, faced with a firestorm of falling property prices, is trying to prevent a national drama from becoming a disaster by providing huge guarantees to
      ■AFP; BLOOMBERG  -  625 words
    • Article, Illustration
      Lock icon Fans of American architect saves The Last Wright
      785 25 -AP [DES MOINES, lowa] Frank Lloyd Wright enthusiasts are claiming victory in their effort to restore the architect's last standing hotel, a northern lowa landmark that has fallen apart over the past few decades. The Park Inn Hotel in Mason City, designed
      -AP; AP  -  785 words
    • Article, Illustration
      Lock icon Battered owners hopeful as home sales, prices rise
      662 26 -AFP But analysts remain sceptical on the longer-term outlook for property prices [LONDON] For homeowners around the world struck by the collapse of property markets, figures showing the downward spiral may be halting are the most meaningful signs yet of a possible
      -AFP; BLOOMBERG PHOTOS  -  662 words
    • Article, Illustration
      Lock icon NZ house prices rise for a 3rd month in July
      323 26 Bloomberg [WELLINGTON] New Zealand house prices rose for the third month in July, signalling the property market is recovering and may help the economy emerge from a recession. Prices rose 0.7 per cent from June and have gained 1.3 per
      Bloomberg; BLOOMBERG  -  323 words
    • Article
      Lock icon Aussie home loan demand rises
      525 26 Reuters [SYDNEY] Demand for Australian home loans climbed for the ninth straight month in June, adding to evidence that a strengthening housing market is driving a recovery and backing views that the central bank will start raising rates in coming months. Government data yesterday showed
      Reuters  -  525 words
    • Article
      Lock icon Dubai home prices drop further
      401 26 Reuters [DUBAI] Dubai house prices fell by 24 per cent in the second quarter from the prior quarter but the pace of decline slowed, in line with improving global property markets, Landmark Advisory said on Sunday. Prices fell less in the same period in Abu
      – Reuters  -  401 words
  • Page 25 Advertisements
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      Lock icon Page 25 Advertisements Column 1
      101 25 PULSES OUT NOW The August issue is hot off the press. Top story: How do Temasek-linked companies fare? Also, find out what Star Hub CEO Terry Clontz said in his last media interview before the announcement of his retirement. PLUS, take a hike up Dempsey Hill and check out the
      101 words
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      Lock icon Page 25 Advertisements Column 2
      28 25 GOOD CORPORATE GOVERNANCE Create greater transparency for your company by advertising your financial results in our newspapers. Call 1800 289 8822 or email noticeslsph.com.sg. 3 BSATH I NOTICES
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      Lock icon Page 25 Advertisements Column 3
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      Lock icon Page 26 Advertisements Column 1
      101 26 BW Property Investment Strategies jttk the 'Donald Trump' Way with less than $30k 3jjJ\l? Many think Property Investment is buying and selling property. We share with investors Jel how to be creative in their property investment to enjoy extraordinary returns. FaTTEND FREE 3 hours talk worth $180 to learn: n?IMI9^I9PiIPVIIPi!P9V!iiPIIIIPVIRPPPIIIVIiPPIHI9IIiPIMIIff^^^
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