The Business Times, 26 October 2009

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES Ssl.oo online at http://www.businesstimes.com.sg Sf^l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Monday, October 26,2009
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  • 812 1  -  SIOW LI SEN But much of growth due to restocking, not across the board By: [SINGAPORE] After a long and painful period of decline, trade volumes have finally picked up. But it is too soon to say whether world trade has finally turned the
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  • 695 1  -  JOYCE HOOI The large-fund factor has caused share prices to rise despite dilution concerns By [SINGAPORE] Share placements this year have confirmed a slight variation of the trite adage it is not what you know, but rather who you know is buying into the company. Locally
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  • MARKETS DIGEST
    • 58 1 Weekly 2,715.34 lange +7.22 ST Index KL COMP 1,267.10 +10.33 NIKKEI 225 10,282.99 +25.43 HANG SENG 22,589.73 +659.83 SET INDEX 708.76 -8.36 JAKARTA COMP 2,467.95 -47.86 MANILA COMP 2,932.99 +10.17 SEOUL COMP 1,640.17 -0.19 SHENZHEN B 546.96 +21.78 MUMBAI IND 16,810.81 -515.20 DOW 9,972.18 -23.73 NAS DAI 2,154.47 -2.33
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    • 29 1 Bloomberg Source: SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 15.459 TAIWAN 4.776 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.25 SWITZERLAND 0.52 INDIA 11.75
      Bloomberg  -  29 words
    • 47 1 US$ (S$ per US$) 1.393 (US$/S$ per 1.668 2.323 EURO (US$,S$/E) 1.502 Foreign currency per US$ 2.092 S$ YEN 91.80 65.90 RM 3.379 2.425 HK$ 7.750 5.564 BAHT 33.43 24.00 RUPIAH 9,440 6,777 RENMINBI 6.828 4.902 INDIAN RUPEE 46.44 33.34 A$ 1.079 0.775 NZ$ 1.322 0.949
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  • Page 1 Miscellaneous
    • 55 1 BW^m PENSION FUND BizlT COMMENTARY COMPANIES £n- Red flags and risky bets Counting down to Shell discount deal Modest Q3 growth atCalpers the superhighway an irony seen for S-chips Ms™ RAGE 21 RAGE3O PAGE 11 PAGE 6 \l^ \i r 1/ Jf m dining out BmHSbmß 4£ Guest chef at
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  • TOP STORIES
    • 609 2  -  CHUANG PECK MING EAST ASIA SUMMIT Fast-track regional FTA and support connectivity master plan, leaders urged Reports by [HUA HIN, Thailand] Prime Minister Lee Hsien Loong yesterday called for greater linkages to be built between Asean and East Asia through an expanded free
      LIANHE ZAOBAO  -  609 words
    • 280 2 [HUA HIN] Asean's 15th leaders' meeting drew to a close yesterday with heavy commitments to the 10-member grouping from China, Japan, South Korea and India. China pledged US$lO billion to the China-Asean Fund for investment cooperation, with another US$l5 billion offered in commercial credit, including US$l.7
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    • THREE-MINUTE DIGEST
      • 67 2 LOCALLY listed firms have tapped investors for almost $4 billion in 45 placements of new shares so far this year, making the market that raised $600 million in 2008 look like a mausoleum in comparison. Share prices of firms tend to slump after a placement
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      • 56 2 AFTER a long and painful period of decline, trade volumes have finally picked up. But it is too soon to say that the world has turned the corner. Much of the positive growth rates of the past few months is due to restocking and
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      • 63 2 PRIME Minister Lee Hsien Loong yesterday called for the building of greater linkages between Asean and East Asia through an expanded free trade agreement and a connectivity master plan proposed by Singapore. Speaking at the East Asia Summit, Mr Lee urged leaders to
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      • 54 2 JAPANESE retailer Takashimaya Singapore is hoping to maintain its full-year turnover and net profit at last year's level after posting weaker first-half results. Managing director Yutaka Yamaguchi had earlier said that the opening of lON Orchard had affected sales of same-brand merchandise.
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      • 61 2 DEMAND is growing for a service that slims down their bloated over-the-counter derivatives portfolios and reduces credit and counterparty risks. TriOptima provides a "compression" service it links banking participants in regular "cycles" and then examines the portfolios to see which OTC trades can be mutually
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      • 53 2 AS the earnings reporting season gets underway, analysts are expecting flat to modest earnings growth for Chinese listings here, or S-chips, in the third quarter. Companies in the consumer discretionary, industrials and property sectors are likely to outperform the S-chips universe, they say. COMPANY
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      • 60 2 ONE month into the reporting season for the third quarter, and companies have all reported profits save one. The combined net profit of $693.4 million for the 21 SGX-listed companies that have filed results for Q3 2009 is a 24.6 per cent increase
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      • 46 2 THE US dollar's plunge has prompted Asian central banks to intervene to curb strength in their currencies and support exports, but they may change tack next year to rely on currency appreciation to contain inflation. ECONOMY WATCH, PAGE 16
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      • 39 2 THE goal of signing a new global commerce deal in 2010 is out of reach unless countries accelerate their negotiations, World Trade Organization director-general Pascal Lamy said on Friday. ASIA-PACIFIC/WORLD, PAGE 19
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      • 55 2 THE number of US banks that have failed so far this year topped 100 last Friday hitting 106 by the end of the day the most in nearly two decades. But the trouble in the banking system from bad loans and the recession goes
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      • 53 2 IS the global airline industry heading into another crisis even as the current one appears to be coming to an end? It may be early days, but there are ominous signs that the global aviation industry could be hit on a second front soaring fuel price.
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    • 1050 2  -  ANDREW MARKS WALL STREET INSIGHT CORPORATE profits in the third quarter are doing what they are supposed to do to support lofty stock market valuations beating expectations on the bottom line, and showing improvement in sales and revenues. But
      AFP  -  1,050 words
    • 1210 4  -  JOYCE HOOI The 2 cash-call methods have been given very different market treatments By [SINGAPORE] The rights issue must, ironically, be feeling rather wronged. Used frequently by companies at the beginning of the year before the market had rallied, rights issues have been
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    • 541 4  -  KALPANA RASHIWALA By [SINGAPORE] Japanese retailer Takashimaya Singapore is hoping to maintain its full-year turnover and net profit at last year's level after posting weaker first-half results. Takashimaya Singapore managing director Yutaka Yamaguchi said in a recent interview with BT that the
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    • 432 4  -  CHEW XIANG By [SINGAPORE] Demand is growing for a service that helps banks slim down their "bloated" over-the-counter derivatives portfolios and reduces credit and counterparty risk. Peter Weibel, chief executive of TriOptima Asia Pacific, told BT in an interview that the collapse of Lehman Brothers
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  • COMPANY NEWS
    • 642 6  -  LYNETTE KHOO Some may do very well, setting the stage for a further re-rating of S-chips By AS the earnings reporting season gets underway, analysts are expecting flat to modest earnings growth for Chinese listings here or so-called S-chips in the third quarter. Companies
      642 words
    • 613 6  -  VINCENT WEE It owns a 60% stake in Oilfield Services and Supplies By LITTLE known Catalist-lis-ted oil and gas services provider EMS Energy's acquisition of a 60 per cent stake in Oilfield Services and Supplies (OSS) last September may turn out to be one
      613 words
    • 627 6 Plato Capital A E Seletar Room 1, Level 3, Holiday Inn Atrium, 317 Outram Road, Singapore *****5 26-Oct 2.30pm 2.45pm Luxking Grp A Hotel Re! Pearl's Hill, Re! Union, 175AChin Swee Road, Level 2, Singapore *****9 26-Oct 9.00am F J Benjamin A Lavender Room, Level 3 Orchard Hotel,
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    • 700 6  -  R SIVANITHY THE recent circumstances surrounding UOB-Kay Hian's imposition of trading curbs on the shares of life sciences firm Transcu Group, which precipitated a collapse of those shares, raises a few important regulatory issues for the authorities to ponder. The most pressing question
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    • 705 9  -  ARTHUR SIM KepCorp accounts for 46% of total; Chartered Semi only firm with loss By ONE month into the reporting season for the third quarter, companies have all reported profits, save one. The combined net profit of $693.4 million for the 21 SGX-listed
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    • 391 9 9 months ended Sept 2009 3 months ended Sept 2009 NET PROFIT (S$m) TURN \IOVER(S$m) T PROFIT (S$m) IRNOVER (S$m) CURRENT PREVIOUS %CHNG CURRENT PREVIOUS CHNG CURRENT PREVIOUS %CHNG CURRENT PREVIOUS I1 CHNG 1 Keppel Corp 1344.39 833.88 61.2 9217.89 2 CapitaMall Trust 212.77 184.57 15.3 412.60
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    • 765 9 BANK CAPITAL [LONDON] A rush of new issues is expected to alter the face of the market for hybrid bank capital, with regulators poised to approve rules that could include structures that provide loss-absorbing contingent core capital. Contingent capital would give banks the
      765 words
    • 703 9 Legends USS; Rmb; HKS; A) AS; Pound; Rupiah; Yen; fee) Euro; AA) Baht; RM; (ccc) Peso; AAA) Rs; NT$; (ad) Capital; (ai) To be announced; (aj) Final Tax Exempt; (ak) Final Tax Exempt (One Tier); (an) First and Final Tax Exempt (One Tier); (ao) Income; (ap) Income Capital;
      703 words
    • 390 9 BANKS ABN Amro Bank NY 5.5 Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications
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  • Page 7 Advertisements
    • 252 7 Hi J-.' j—^ i ni^ V^^% taste new again George Quek BreadTalk 1 We are your bank raring to support alternative points of view For a forward-looking partner, start a conversation with us. He first did it with BreadTalk, then Food Republic, Toast Box and DinTai Fung. A trendsetter with
      252 words

  • SINGAPORE MARKETS
    • 729 8  -  R SIVANITHY STOCKS NEWS last week that Wall Street's fat cats will have their pay cut and capped is indeed welcome, especially to a public lobbying for curbs on excessive risk-taking by unregulated banks. Perversely though, it could divert attention away from other
      729 words
    • 412 8  -  OH BOON PING COMMODITY WATCH By COMMODITY markets have had a pretty good run so far gold hit a record U551,070.40 per ounce over a week ago, while oil crossed US$BO a barrel last Wednesday. Similar rallies were also seen in silver and the industrial
      412 words
    • 503 8 AFP CURRENCIES [HONG KONG] Asian currencies ended the week mixed against the dollar amid signs of recovery in the US economy. Japanese yen: The yen lost ground against the dollar in Tokyo during the week as the greenback was recouping its recent losses following
      AFP  -  503 words
    • 1467 8 Source: Reuters Consensus No. of Forecast Mean Fri's recommendation esti- EPS PE target price This wk Last mth mates (cents) (ratio) price lompany name Mlgreen Prop Ltd 2.00 2.09 11 6.76 17.17 1.34 1.18 ,RA Asset Mi jt Ltd 2.00 2.00 7.50 11.33 1.03 0.86 ,rmstroni Ind Con
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    • 4 8 WEEKLY
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    • 64 8 Oct23 VALUE CLOSE BT OB/OS 278.00 +126.0 BT CADI -*****.00 +175.0 BT 10-day MA -*****.00 +28.00 FTSE ST Mid Cap 634.86 +5.53 FTSE ST Small Cap 544.62 +6.74 FTSE ST All Share 668.78 +7.85 FTSE ST China Top 278.37 +1.61 FTSE ST China 296.46 +2.15 FTSE ST
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    • 59 8 VOLUME Transcu Grp 431,675,000 Golden Agri 418,841,000 Gentinq SP 265,411,000 Uni Envtech 195,753,000 Novena 165,317,000 Ziwo 162,541,000 Memstar 160,270,000 Yinq Li 146,794,000 VDH Energy 136,464,000 CJFertilizer 136,288,000 VALUE(S) DBS Grp 343,732,814 Capita Land 340,798,201 Sing Tel 333,201,920 Genting SP 297,445,550 UOB 213,418,630 Yanlord 188,830,950 Golden Agri 188,494,700
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    • 106 8 BY CENTS CLOSE UP 3156 217.2 5.2 JMH GLD 10US$ ***** 172.7 1.2 DBS Bk6% NCPS 10 ***** 104.0 1.0 China H 10US$ 1728 96.1 4.2 STXPO 100 1450 70.0 5.1 DBXT FTVietnam 10US$ 5805 58.5 0.7 JSH 1790 44.6 1.8 UOB 5.05%NCPS 100 ***** 42.0 0.4 BMT 1300
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    • 115 8 Closing prices are in trading currencies, but absolute difference is in Ss. CLOSE DOWN *****-328.6 -2.1 DBXT Ni 10US$ JardineC&C 2518-136.0 -5.1 DBXTDJE50 10US$ 4547-110.0 -1.7 India Ni 10 1503 -59.0 -3.: DBXT MSTaiwan 10US$ 1541 -47.3 -2.2 SIA.ES.0910 1386 -38.0 -2.7 DBS Gri 1300 -34.0 -2. SGX.ES.0910 820
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    • 86 8 Wh lere S! stands 0O23 %CHNG CLOSE FROct 22 YR2009 S$ LOW S$ HIGH uss 1.3925 0.40 1.5579 1.3897 Euro 2.0952 -0.15 2.0952* 1.9150 Pounds 2.2863 1.04 2.4366 2.0356 AS 1.2897 -0.21 1.2900 0.9453 Yen* 1.5214 0.64 1.7278 1.4831 Rupiah* 0.***** -0.23 0.***** 0.***** Baht* 4.1648 0.25 4.3390 4.1040
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    • 1454 10  -  TEH HOOI LING OST of our portfolios ended lower as investors were sitting on the fence waiting for companies to report their third quarter earnings. The biggest decline was posted by the one-year top losers portfolio which shed a significant 4.1 per
      1,454 words
    • 1530 10  -  ROBERT HALILI Asia Insider Ltd INSIDE MARKETS Fewer purchases reported, while sales also plunge from the week before By TRADING by directors was low for the fifth straight week based on filings on the Singapore Exchange from Oct 19 to 23
      Asia Insider Ltd  -  1,530 words
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    • 22 9 SCORE CARD Keep your investors informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@>sph.com.sg. II
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  • SINGAPORE NEWS
    • 337 11  -  ARTHUR SIM He'll be briefed on the economy and will explore bilateral opportunities By. SENIOR Minister Goh Chok Tong is in the Fujian Province of China to meet Fujian party secretary Lv Zhangong and governor Huang Xiaojing, as well as leaders of Xiamen, Quanzhou
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    • 678 11  -  SAMUEL EE COMMENTARY By I T IS difficult to decide who is more I frustrating the value-for-money SinII gapore motorist or the conges-tion-causing oil chain that panders to him. Last Saturday saw traffic snarls on Singapore roads leading to Shell petrol stations. All because the
      678 words
    • 306 11  -  ARTHUR LEE By ABOUT 700 SME, priority and private banking clients of Standard Chartered Bank celebrated Deepavali recently at the Shangri-La Hotel and helped raise funds for the bank's Seeing is Believing programme. The global fund-raising initiative a collaboration between Stanchart and the International Agency for Prevention
      PHOTO: ARTHUR LEE  -  306 words
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  • VIEWS FROM THE TOP
    • 3488 12 THIS WEEK'S TOPIC: Are companies here ready to reverse wage cuts/freezes and other belt-tightening measures? If so, which organisations are in the best position to do so, and what measures should they ease first? Eric Hoh Vice-President, Asia South Region Symantec THERE appears to be a
      STOCKXCHNG  -  3,488 words

  • Page 13 Advertisements
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1045 14  -  LU GEOK LAN Financial problems can be managed through prudence, common sense, realistic goal setting and planning. ANY years ago, I read the book, Of Human Bondage by W Somerset Maugham. In this book, he portrayed the life of Philip Carey and his struggles with
      1,045 words
    • 831 14 CAMPUS LIFE Singapore nets 3 golds, a bronze, 8 medallions of excellence and the top Albert Vidal award at WSC THIS year's "Olympics of Skills" saw Team Singapore participating alongside 900 competitors from 51 countries in Calgary, Canada last month for the 40th World Skills Competition
      831 words
    • 158 14 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
      158 words
  • Page 14 Advertisements
    • 46 14 cffibank 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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  • ECONOMY WATCH
    • 801 16 Reuters Central banks seen using currency appreciation to contain inflation [SINGAPORE] The US dollar's plunge has prompted Asian central banks to intervene to curb strength in their currencies and support exports, but they may change tack next year to rely on currency appreciation
      Reuters; REUTERS  -  801 words
    • 587 16 Reuters, Bloomberg [OSLO] International Monetary Fund managing director Dominique StraussKahn said that a global economic recovery could start this year rather than in the first half of 2010, when the body's present forecasts predict. "It could begin earlier than in the first
      Reuters, Bloomberg; REUTERS  -  587 words
    • 493 16 -Reuters Little threat of inflation, says ECB council member [VIENNA] The euro zone is unlikely to see a double-dip recession, while benign inflation will allow the European Central Bank (ECB) to focus on reinvigorating the economy, governing council member Ewald Nowotny said last Friday.
      -Reuters  -  493 words
    • 616 16 Reuters Recovery is lopsided with changes seen in political outlook [SANTIAGO] Chile is about to become one of the fastest growing economies in Latin America, yet policymakers and business leaders lack the confidence shown in financial markets and are unlikely to declare a return to business
      – Reuters  -  616 words
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  • MALAYSIA/INDONESIA
    • 674 17  -  PAULINE NG MALAYSIA INSIGHT Curbing corruption and wastage alone will help narrow budget deficit PRIOR to Prime Minister Najib Razak tabling his maiden Budget, senior officials in his administration had said that it would be a challenging one given the need to stimulate growth yet rein
      674 words
    • 286 17 -AFP [JAKARTA] Indonesian President Susilo Bambang Yudhoyono said last Friday that his new economic team was aiming to achieve 7 per cent growth by the end of his final term in office. On the first full day at the helm
      -AFP  -  286 words
    • 608 17 Reuters, Bloomberg But rating kept at 3 notches below investment grade [HONG KONG] Standard Poor's revised up Indonesia's rating outlook to positive on improving debt ratios, as expected, but still kept South-east Asia's biggest economy at 88-minus, or three notches below investment grade. Helped
      – Reuters, Bloomberg  -  608 words
    • 274 17 Reuters [HUA HIN, Thailand] Indonesian exporters are not worried about the strengthening rupiah, but they are more concerned of the volatility of the rupiah due to the fluctuation of the US dollar, Trade Minister Mari Pangestu said yesterday. "At the moment, when I talk
      – Reuters  -  274 words
    • 288 17 Reuters [HUA HIN, Thailand] Japan, the world's fifth biggest air polluter, yesterday offered a US$4OO million yen-denominated loan to Indonesia, the world's third largest air polluter, to help tackle global warming, Japanese officials said. The loan was part of the "Hatoyama Initiative"
      – Reuters; ■■■ ■ : ■ t.-. i AFP  -  288 words
    • 308 17 Reuters [JAKARTA] Five Indonesian banks including Bank Central Asia, the No 3 lender, expect to launch stand-alone sharia units next year, boosting the sharia market in the world's most populous Muslim nation, officials said. Industry officials said that the revised law on
      Reuters  -  308 words
    • 2013 17 let 23 RM C000] \&M Realty 0.68 0.23 advance Synerg 0.16 Viventa Bhd 2.05 VsMuIti Hldgs 0.25 Win Holdings 2.13 Uimad Zaki Res 0.98 Me Corp 0.41 Mrasia Bhd 1.36 \kn Technology 0.13 Alliance Finan 2.54 aluminium Co 1.11 Amalgamated In 0.49 tomb Hldgs Bhd ....4.78 Vntel Holdings
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  • GREATER CHINA/INDIA
    • 610 18 -AFP Beijing is prioritising domestic concerns despite US, EU pressure: analysts [BEIJING] China will maintain a weak yuan until its export sector has recovered from the global crisis, prioritising concerns at home despite growing pressure from its major trading partners,
      -AFP  -  610 words
    • 328 18 AFP [KINMEN, Taiwan] Taiwan President Ma Ying-jeou called yesterday for continued reconciliation with former bitter rival China as the island marked the 60th anniversary of a key battle against Chinese communist forces. "In the face of a new light shedding on the rapprochement,
      AFP  -  328 words
    • 507 18 Bloomberg [SHANGHAI] China may face an economic slowdown in the middle of next year because the nation's growth model is unsustainable, said Stephen Roach, chairman of Morgan Stanley Asia. Economic growth in China accelerated to 8.9 per cent last quarter, fuelled by government stimulus
      Bloomberg  -  507 words
    • 311 18 Bloomberg [BEIJING] China's banking regulator has ordered stress tests for commercial banks on a quarterly basis to prevent possible future liquidity crises, the China Securities Journal reported, citing a person it didn't identify. The requirement is part of rules recently issued by the China
      Bloomberg  -  311 words
    • 479 18 Reuters, Bloomberg Indian drug maker also maintains full year forecast [BANGALORE] Dr Reddy's Laboratories, India's se-cond-largest drug maker by sales, beats forecasts by more than doubling quarterly net profit and maintained its full-year forecast on the launch of new generics, sending its
      Reuters, Bloomberg  -  479 words
    • 240 18 Bloomberg [NEW DELHI] India's capital markets regulator has allowed stock exchanges to extend trading hours to narrow the gap between local and overseas securities trading hours. Exchanges will be allowed to trade between 9am and spm local time, according to a statement on
      – Bloomberg  -  240 words
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    • 67 18 Get to know the world better Start your day with SPH newspapers hot off the press, featuring quality news, in-depth analyses, impactful commentaries and breaking stories from Singapore, the region and the rest of the world. Subscribe now and connect with the world. Visit www.sphsubscription.com.sg or call 6388 3838 for
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  • ASIA-PACIFIC/WORLD
    • 669 19 Reuters They also seek to reduce trade dependence on US, Western markets [HUA HIN Thailand] AsiaPacific leaders yesterday called for region-wide free trade and other measures to reduce dependence on the United States and big Western markets as Asia leads the way
      – Reuters  -  669 words
    • 416 19 Reuters [WASHINGTON] The weak state of the US economy and government spending to prop it up are already looming as major issues for 2010 congressional elections that will render a judgment on President Barack Obama. Republicans, Democrats and an analyst
      – Reuters; AFP  -  416 words
    • 477 19 Reuters [GENEVA] The goal of signing a new global commerce deal in 2010 is out of reach unless countries accelerate their negotiations, the World Trade Organization's direc-tor-general Pascal Lamy said on Friday. The WTO's 153 members must turn vague discussions on the Doha
      ' – Reuters; REUTERS  -  477 words
    • 491 19 Reuters [ZURICH] Switzerland's regulators should not tighten Swiss rules for banks too much as this would hit the credit supply and damage the banks' competitiveness, the head of the Swiss Bankers Association told Reuters. Bankers association chief executive Urs Roth
      Reuters  -  491 words
    • 581 19 -AFP It still has a long way to go, says founder [SAN FRANCISCO] Leonard Kleinrock never imagined Facebook, Twitter, or You Tube that day 40 years ago when his team gave birth to what is now taken for granted as the Internet. "We
      -AFP  -  581 words
    • 261 19 AFP [TOKYO] Japan's Prime Minister Yukio Hatoyama incorrectly reported 200 million yen (553.03 million) of political donations, a local daily said yesterday. Mr Hatoyama, who was sworn in last month, admitted in June to keeping sloppy accounts for his fund-raising body which included
      AFP  -  261 words

  • WORLD
    • 794 20 AP Many banks remain open despite being as weak as those that have been shuttered [WASHINGTON] The number of US banks that have failed so far this year topped 100 last Friday hitting 106 by the end of the day the most in nearly
      AP  -  794 words
    • 456 20 Bloomberg [NEW YORK] Raj Rajaratnam, the founder of Galleon Group, planned to gauge interest in a US$2OO million Sri Lanka fund with a trip to London before he was arrested, said two people with knowledge of the matter. The Sri Lankan-born billionaire had
      Bloomberg  -  456 words
    • 609 20 Reuters [WASHINGTON] The Obama administration plans to unveil today a new plan for dealing with troubled financial giants, said a senior US lawmaker, who also mentioned potentially big changes for the insurance industry. Barney Frank, chairman of the House Financial Services Committee and
      Reuters; i AP  -  609 words
    • 342 20 Bloomberg [LONDON] JPMorgan Chase Co is the lead investor in both of this year's public securitisations of UK mortgage loans, as the New York-based lender snaps up the type of assets behind billions of dollars of losses at other banks. JPMorgan bought or
      Bloomberg  -  342 words
    • 222 20 Reuters Agencies accused of being too generous in credit ratings [LONDON] A body representing Europe's 9,200 listed companies said on Friday it wants all references to credit ratings stripped from European Union law, mirroring an initiative from the Obama administration in the United
      – Reuters  -  222 words
    • 375 20 Reuters [LONDON] A new European accounting rulemaker will be needed if an existing global standard setter fails to align itself more closely with public authorities, a study commissioned by the French government said on Friday. The findings will add fuel to criticisms among Continental
      Reuters  -  375 words
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  • FOCUS: AMERICA'S BIGGEST PENSION FUND
    • 2189 21 REUTERS. Calpers is doubling down on alternative investments. Will California's tax payers wind up paying the bill? [SAN FRANCISCO] Russell Read, the former chief investment officer of Calpers, the largest pension fund in the United States, knows his trees. Read owned a 500-acre (202-ha) Maine
      – REUTERS.; PHOTOS: REUTERS  -  2,189 words
    • 311 21 AP Victor MacFarlane will remain under contract with the fund through year's end [SACRAMENTO, California] San Francisco businessman Victor MacFarlane is ending his longtime role as a property adviser to the California Public Employees' Retirement System (Calpers), a spokeswoman for his firm said on Saturday.
      AP  -  311 words

  • AVIATION/SHIPPING
    • 930 22 REUTERS NEWS ANALYSIS Soaring fuel prices are likely to hit the already battered airline industry, says YEN SREENIVASAN IS THE global airline industry headed for a new crisis even as the current one seems to be coming to an end? It may be early days yet,
      REUTERS  -  930 words
    • 335 22 Reuters [LONDON] The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, stayed at over a two and half month high on Friday, helped by fresh cargo activity in Brazil and Australia. The overall index, which gauges the cost of shipping resources
      Reuters  -  335 words
    • 237 22 ASIA-FOCUSED integrated logistics provider Toll Group has acquired major New Zealand freight forwarder Express Logistics Group (ELG), giving it added scale and capacity in key trade lanes in Asia. ELG currently operates 12 freight forwarding branches across New Zealand, Australia and the USA,
      237 words
    • 2810 22 AIRLINE CODES: AA American Airlines (AA "ance (AFR), Al Air India (AIC), AY Finnair Oy (FIN), AZ Alitalia Airlines (AZA), BA British Airways Public Ltd Co (BAW), BG Biman Ban: ies(BBC), Bl Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA Airways Corpn
      2,810 words
  • Page 22 Miscellaneous
    • 217 22 CRYPTIC CROSSWORD Across 25 Chapter one tense in true story (7) 26 In the cold, where you might find chaps CO 22 shuts cupboards after cat fashionable? (2,9,4) 7 Migrant dropping at last jumps out (6) 27 Shares out sweet dishes newspaper that's more 24 Hum start of melody in
      217 words

  • DINING OUT
    • 467 23  -  Amanda de Guzman GUEST CHEF Raffles Grill Raffles Hotel 1 Beach Road Tel: 6337-1886 From Oct 26 to Oct 30 AN excellent meal enjoyed in the rarefied surroundings of the Raffles Hotel is one of Singapore's most distinctive pleasures, and the food of one Miche-lin-starred guest chef
      467 words
    • Article, Illustration
      809 23 From seasonal fare to special promotions and guest chefs, AUDREY PHOON lists some food offerings around town that may just tickle your palate GUEST CHEF Bedrock Bar Grill 96 Somerset Road #01-05 Pan Pacific Serviced Suites Tel: 6238-0054 On Oct 29 only AS a toast to its
      809 words
  • Page 23 Advertisements
    • 557 23 DINE IN STYLE Embark on a sensory culinary experience with the White Card. Discover significant dining privileges all year round and gourmet delights at over 30 exquisite dining establishments. Get a taste of your preferred world that lets you dine in style, for less. RESTAURANT PRIVILEGES* Sinol© din@r —I I
      557 words

  • SINGAPORE STOCKS
    • 9121 24 Week ended: Oct 23 Hi. Low Code Com| Sale ('000) Hii Low Bi Seller C'vr P/E 17 3 3148 STelecom 9.5 2.5 5834 A-Sonic 34 12 5000 ABR Hldgs 15.5 5.5 1938 AEI Corp 8 1 1100 AEM 23 7 2101 APOil 93 26.5 5550 ARA 8 2.5
      9,121 words
    • 1795 25 High Low Code Company Sale C000) High Low Buyer Seller C'vr P/E $mil 10 5 1181 s AAGrp 25 12 8538 t APStrategic 4 0.5 1501 s Advanced System 7.5 2 3480 t Adventus 20 8.5 3518 t Afor 12.5 2 1524 t Alantac 11 3.5 7814 t
      1,795 words
    • 442 25 52-Wk Tel h Low Code Last Sale Vol C000) Week ill Low Last Quote Buyer Seller Div GrYld Net MCap C'vr P/E $mil _Hm Comi _Hm 110 100 6389 ABF SG Bond ETF 807 427 CIMBAsean40 100US$ 275 149 DBS STI ETF 100 4627 3534 DBXT DJE5O 10US$
      442 words
    • 256 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum
      256 words
    • 118 25 Stock name Close Change Stock name Close Change Stock name Close Change litaLand 4.350 +0.150 JMH 31.560 +1.560 SIA En: 2.720 +0.030 :apitaMall 1.750 +0.020 JSH 17.900 +0.500 SMRT 1.680 :if lev 10.260 +0.220 Jardine C&C 25.180 SPH 3.900 +0.010 :omfortDelGro 1.570 Keppel Corp 8.150 -0.030
      118 words
    • 102 25 Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 7 4 0 0 0 6 7 4 Manufacturing 58 110 60 14 10 17 72 120 77 Commerce 25 37 22 33 43 24 'St. >r/c ms 13 25 13 27 Finance 16 11
      102 words
    • 123 25 TURNOVER C000) MAIN SDQ TOTAL MAIN VALUE C000) SDQ TOTAL Multi Ind 191,895 191,895 299,865 299,865 Manufacturing 2,108,475 138,405 2,246,880 1,140,042 10,061 1,150,103 Commerce 577,595 266,475 844,070 489,142 65,931 555,073 3t/Stor/Comms 610,581 137,044 747,625 915,244 40,030 955,274 Finance 212,503 212,504 977,593 977,593 Construction 283,886 21,903 305,789 64,065
      123 words
    • 2641 25 Transaction date: Oct23 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 Vol ■000 HK$ \eon Credit \eon Stores \ngang Steel \nhui Conch \nhuiexpresswa feia Satellite \sm Pacific Sank Of E Asia Seida Jade Bir Jeijing Airpor
      2,641 words
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  • Page 25 Advertisements
    • 111 25 Stock name lapitaLand Close 4.350 Change +0.150 Stock name JMH JSH Jardine C&C Keppel Corp NOL Noble Grp OCBC Bk Olam SGX SIA Close 31.560 17.900 25.180 8.150 1.740 2.740 7.630 2.780 8.240 14.080 Change 1.560 +0.500 -0.030 +0.020 +0.080 +0.020 +0.010 +0.050 +0.280 Stock name SIA Engg Close 2.720
      111 words

  • FINANCE & COMMODITIES
    • 374 26 In local curr In S$ In USS %dy %yr dy yr dy yr Index Change Change Change Change Change Change Oct 23 World Index Preliminary 812.6 -0.5 19.9 -0.8 21.4 -0.7 25.! t EAFE Preliminai 770.2 -0.1 18.6 -0.5 24.6 -0.4 28.I Euro[ Prelim inan
      374 words
    • 131 26 As at 9am Oct 23 Singapore dollars to one unit of foreign currency: Currencies Bid 't Offer Aust dollar 1.2790 1.3170 Can dollar 1.3220 1.3380 Euro 2.0830 2.1070 NZ dollar 1.0460 1.0680 Sterlini 2.3070 2.3341 US dollar 1.3860 1.4020 Local dollars to 100 units of foreign
      131 words
    • 175 26 Oct 23 Overnight 5/16 1-monfh 7/16 2-months 9/16 3-months 11/16 Overnight mode: 9/32 US$ Offer 1/4 5/16 5/16 7/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months $Au 0.30 0.33 0.37 0.40 0.70 1.10 1.25 Offer 0.20 0.23 0.27 0.30 0.50
      175 words
    • 24 26 Oct 23 STI Oct 2715 SIMSCI Oct 320.0 324.2 323.3 Taiwan Oct 275.0 277.5 276.7 Source: MF Global (S) He. Ltd
      24 words
    • 21 26 RATES Oct 23 Bid Offer 1-month 1.3926 1.3939 2-months 1.3928 1.3941 3-months 1.3929 1.3943 6-months 1.3933 1.3947 Source: OCBC
      21 words
    • 62 26 Oct 23 Delivery Month Opening Sett Av Range Price Price Hii Low Vol Open Done Position Nov 09 2238 2232 2245 2231 435 2732 Dec 09 2230 2232 2245 2224 2088 ***** Jan 10 2234 2238 2250 2227 ***** ***** Feb 10 2236 2239 2253 2232 2471 8373
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    • 298 26 Oct 23 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec09 Mar10 Jun10 Sep10 99.6500 99.4250 99.0900 98.6900 8054 3883 3307 3087 EUROYEN TIBOR FUTURES Dec09 99.500 99.500 Mar10 99.505 99.505 Jun10 99.520 99.520 Sep10 99.500 99.500 DedO 99.470 99.470 Mar11 Jun11 Sep11 99.500 99.505 99.505 99.500
      298 words
    • 186 26 Oct 23 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Month High Low Close Sett Volume (lots) O/l (lots) Nov 09 248.0 Dec 09 Jan 10 245.5 Feb 10 Mario Apr 10 245.9 244.5 245.8 245.0 245.5 245.5 245.5 245.5 3 15 474 428 551 952 739 410
      186 words
    • 89 26 Oct 23 Period Issue code Maturity Yesterday's Bid Day's ill Low Hi. 3-Month BQ*****T 21.01.2010 1-Year BY*****W 03.05.2010 0.41 0.44 0.33 0.33 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year NX*****H 3.625 5-Year N*****0N 1.375 7-Year N*****0S 2.875 10-Year NX*****W 2.500 15-Year
      89 words
    • 103 26 Oct 23 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 09 1006.00 1005.50 1028.00 1001.00 Jan 10 1007.50 1007.00 1029.25 1002.50 Mar 10 1006.75 1006.75 1027.00 1001.75 May 10 999.00 1000.00 1019.00 994.50 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 09 37.94 38.30 38.75
      103 words
    • 77 26 CRUDE OIL PRODUCTS Oct 22 CRUDE (FOB origin) USS/barrel Close Cham Brent blend (1-Mth F) 79.00 0.62 WTI (Near Mth) 80.88 -0.04 Dubai (1-Mth F) 77.89 2.00 Tapis blend 82.70 2.00 Minas 79.95 2.00 PRODUCT USS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 73.55 85.35 2.30 1.95 USS/barrel Opec Oil
      77 words
    • 450 26 Oct 23 iuro ren ton •eso Earn toum Australia 0.974 6.325 0.617 7.180 43.020 87.457 0.851 10.951 3.130 1.225 77.095 43.520 1.290 6.900 0.933 30.010 30.971 0.556 0.926 Canada 1.026 6.493 0.633 7.370 44.159 89.772 0.873 11.241 3.213 1.257 79.136 44.672 1.325 7.083 0.957 30.805 31.791 0.570
      450 words
    • 79 26 Oct 23 (US$) (S$) 0.***** 0.***** 1 mth 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 1.***** 12 mths
      79 words
    • 153 26 Oct 23 Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2897 1.2913 0.9263 0.9266 Canadian dollar 1.3237 1.3256 0.9508 0.9512 Euro 2.0910 2.0932 1.5018 1.5020 NZ dollar 1.0526 1.0550 0.7560 0.7570 Sterlini 2.3215 2.3240 1.6674 1.6671 US dollar 1.3923 1.3936 S$/US$
      153 words
    • 139 26 Oct 23 GOLD (USS/oz) Oct 23 Oct 22 Hong Kong 1058.40 1055.00 London Oct 22 Oct 23 1059.50 1058.35 1060.30 1059.15 Source: Thomson Reuters CAST BAR (S$) Oct 23 Buying Sellim Kilobar ***** PAMP GOLD BARS (S$) Sellim "50,684.83" ng Buying Igm 5gm lOgm 20gm 50gm lOOgm 1
      139 words
    • 70 26 Oct 23 Aluminium, 99.7% purity (USS/tonne) Close Previous Cash 1937.50 1931.00 3 months 1972.00 1966.00 Copper, Grade A (USS/tonne) Cash 3 months 6625.75 6649.00 6567.00 6590.00 Lead (USS/tonne) Cash 2335.25 3 months 2360.00 2380.00 2405.00 Nickel (USS/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (USS/tonne) Cash 3
      70 words
    • 76 26 Oct 23 (£/tonne) Close Prev Hii ih/Low Dec 09 2174 2159 2193/2157 Nov 05 2207 2191 2221/2190 May 10 2232 2215 2244/2214 Jul 10 2161 2145 2165/2140 COFFEE (USS/tonne) Close Pev High/Low Nov 09 1363 1437 1440/1343 Jan 10 1409 1479 1483/1383 Mar 10 1443 1512 1512/1420 SUGAR (US
      76 words
    • 2534 26 BONDS, WARRANTS EXTENDED SETTLEMENT Tel Code Company Tel Code Company Asia-Pacific Strategic W*****6 2036 Advance SCT Ltd W*****9 Last Vol i Sale +oi- ('000) I 3 0.5 Last Sale Vol Conv Exer +or- ("000) Ratio Price Conv Ratio i i Exer Price 15 87 Prem Expiry Disc Gear- Mths ing
      2,534 words

  • Page 27 Advertisements
    • 2743 27 The Business Times Shipping Times M __^T_-I .rHIf WAN HAI INTERNATIONAL PTE LTD UEN: *****4695 M W S^J^l W mJfM aSirrTPfn'^M'^jiwMß VTvi\ lAf ALI UAI IIUrC TEL *****588 (14UNES) FAX:*****163 B^^lH I IM^^^M^l HHmB M^mnMRE V\^^B 1 WAN HAI INtj PKLIEL: (03| *****888 FAX: (03| *****288 PEN UL: (04) *****00
      2,743 words

  • Page 28 Advertisements
    • 3251 28 r^VHEXOEI^BSiH In t EASTERN CAR LINER, LTD II §}(33£&ie I If-^—* specialize in roro heavy lift upto 450 tons WEEKLY EXPRESS SAILING SCHEDULE I I HFiiTFWTnTiH^^M 1 1 1 1 I 1 1 1 1 P^^^^^ PCL/PHL SERVICE AMX SERVICE Connecting ECL SERVICE via MALTA I eS|^^^^^^ T ~E2!ff l]-
      3,251 words

  • BizIT
    • 919 29  -  AMIT ROY CHOUDHURY EMC commissioned IDC report notes that spending growth will be 3% over next 5 years By SINGAPORE companies will be spending US$6 billion on IT products and services this year, according to EMC. Speaking to BizlT, EMC's Ron
      919 words
    • 119 29 Reuters [HELSINKI] Oracle should remove the key stumbling block to approval of its Sun acquisition by giving Sun's database MySQL to an independent, non-profit foundation, a free software group said on Friday. The European Union told Oracle earlier last week that it has failed to
      ■ Reuters  -  119 words
    • 549 29  -  WINSTON CHAI By' MORE phone-toting Singaporeans are now surfing the Web on their handsets, but the perks of übiquitous Internet access appears to be accompanied by a nasty surprise at the end of the month. According to a new survey commissioned
      549 words
    • 241 29 Bloomberg [LOS ANGELES] International Business Machines Corp lost its appeal of a ruling by a judge who had denied the company's request to block its former merg-ers-and-acquisitions chief from performing duties at Dell Inc. "We have considered all of IBM's arguments and find them to
      Bloomberg  -  241 words
    • 554 29 es. -Reuters It aims to increase revenue by over 70% in 3 years [TAIPEI] Acer, the world's No 2 personal computer maker, aims to boost revenue by more than 70 per cent over the next three years, while maintaining margins to avoid repeating
      es. -Reuters; AP  -  554 words
    • 570 30 New services to take advantage of the increased broadband speeds will make their debut as early as April 2010, reports WINSTON CHAI THE construction of Singapore's nationwide fibreoptic network may have only just begun but as testament to the republic's reputation for breakneck efficiency, new services
      570 words
    • 497 30 -AFP [NEW YORK] Billionaire investor Carl Icahn resigned last Friday from his position on the Yahoo! board, saying the US Internet giant no longer needed an "activist" director like him. "I don't believe that it is necessary at this time to have an activist on
      -AFP  -  497 words
    • 487 30 -AFP Foreign entities are allowed to participate [NEW DELHI] India said last Saturday a long-de-layed auction of radio bandwidth for third generation (3G) telecommunications services will start in January and will be open to foreign companies. The auction will start on Jan 14,
      -AFP  -  487 words
    • 240 30 Reuters [SHANGHAI] Lenovo, the world's fourth-biggest personal computer maker, expects a boost in its PC sales from the launch of Microsoft's new operating system, Windows 7, its chairman said on Saturday. "It will have a big impact, and we have made a
      – Reuters  -  240 words
    • 221 30 Bloomberg [WASHINGTON] San Disk Corp, the world's largest maker of cards that store digital pictures, failed to convince US officials that more than a dozen companies infringe its patents for flash-memory technology. The US International Trade Commission in Washington said last Friday that
      Bloomberg  -  221 words
    • <what's up>
      • 68 30 EAGLE Investment Systems LLC, a unit of BNY Mellon Asset Servicing which provides financial services technology, has opened its first Asian office in Singapore. Located at Millenia Tower, Eagle's operations here will be helmed by John Legrand, managing director of Eagle's Asia Pacific and
        68 words
      • 64 30 ALTEC Lansing has launched the Expressionist Ultra (MX6021), a three-piece home speaker system for computers. Rated at 200 continuous RMS (root mean square) watts, it is one of Altec's most powerful computer audio systems. A long-throw 6.5-inch subwoofer pumps out low-frequency bass, while
        64 words
      • 116 30 SECURE Enterprise Document Management System (SEDM), a homegrown security technology, has received a boost that could see it soar on the global stage. Local firm Aksaas, EADS Innovation Works Singapore (the local research unit of the European Aeronautic Defence and Space Company), Exploit Technologies
        116 words
      • 62 30 TELECOMS recruiting firm RP International has launched a new technology recruitment business here, called RPI Technology. The new unit covers a number of key practice areas. They are semiconductors and components; cleantech; consumer electronics and hardware; industrial; software and IT services; financial services technology;
        62 words
      • 73 30 THE Plantronics IP4O Session Initiation Protocol (SIP) endpoint device could help contact centres save money by directly connecting agent headsets to the Ethernet network, hence unifying contact center software applications with all inbound and outbound call activities. This eliminates the need for costly desk
        73 words
      • 98 30 CANON has added to its flagship EOS 1 line of DSLR (digital single lens reflex) cameras. The EOS ID Mark IV boasts a 16.1 megapixel sensor and dual image processors. Aimed mainly at professional photographers, the camera can shoot 10 frames per second (fps) with
        98 words
      • 131 30  -  ONG BOON KIAT APPLE has announced that its new 3.06 GHz Intel Core 2 Duo iMac desktop PC will be available on Oct 28, while updated Macßook laptop PCs will ship end-October. The most powerful of the new iMacs, which feature the Intel
        131 words
  • Page 29 Advertisements
    • 217 29 Rroakfact rnnnoyinnc Date: 11 November 2009 UreaKraSt connexions venue: Shangri-la Hotel, Singapore An SiTF iX Executive Series Time: 7.30 am -11.00 am An unique opportunity to Get Up Close with Industry Leaders About Up Close Breakfast Connexions Up Close, an SiTF iX Executive Series, is designed as an exclusive gathering
      217 words