The Business Times, 17 February 2010
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2010-02-17
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The Business Times
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Title Section23 2010-02-17 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Wednesday, February 17,23 words
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665 2010-02-17 1 UMA SHANKARI - But many analysts stay cautious in their outlook for the S’pore market By UMA SHANKARI [SINGAPORE] The economic recovery has translated into better earnings for many listed companies here, data compiled by BT shows. As of last Friday, 66 SGX-listed companies had released665 words
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Article, Illustration621 2010-02-17 1 Athens given till midMarch to get public finances in order [BRUSSELS] European finance ministers yesterday turned up the pressure on Greece, giving Athens until mid-March to put its public finances in order and take further steps to calm “irrational” financial markets. The ministersBLOOMBERG - 621 words
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541 2010-02-17 1 CONRAD TAN - By CONRAD TAN [SINGAPORE] The number of applications for personal bankruptcy here and the number of bankruptcy orders made fell in 2009 despite the economic recession early in the year. For businesses, new petitions for forced corporate bankruptcies rose slightly, but stayed well below the541 words
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Page 1 Advertisements
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Advertisement185 2010-02-17 1 DIVIDEND PLAY Analysts still in favour of high-dividend stocks PAGE 6 OPINION Getting talent to favour S’pore overHK PAGE 21 EXECUTIVE MONEY Emerging markets show repeat of ’04 PAGE 26 LAND TRANSPORT Audi A8 takes aim at limo leaders PAGE 19 Corporate scorecard, Pg 6 HUBLOT GENEVE U </ t185 words
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TOP STORIES
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Article536 2010-02-17 2 Economic upturn adds colour to Q4 results THE economic recovery has translated into better earnings for many listed companies here, data compiled by BT shows. As of last Friday, 66 SGX-listed companies had released their results for the fourth quarter ended Dec 31, 2009. Of these, 57 firms536 words
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836 2010-02-17 2 RONNIE LIM - But it puts European expansion on hold as clients rationalise ops By RONNIE LIM [SINGAPORE] Sembcorp with two mega Gulf power and water projects already in hand (the US$1.7 billion Fujairah facility in the UAE and now the US$1 billion Salalah project in836 words
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451 2010-02-17 2 OH BOON PING - S’pore ahead of other countries in preparing for greying labour force: survey By OH BOON PING [SINGAPORE] When it comes to dealing with an ageing workforce, Singapore’s public organisations are ahead of their counterparts elsewhere in tackling the problem head-on. A survey451 words
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Article, Illustration539 2010-02-17 2 ANTHONY ROWLEY - By ANTHONY ROWLEY PRESSURE is mounting on the Bank of Japan (BOJ) to tackle the nation’s chronic deflation problem more aggressively after news on Monday that prices plunged 3 per cent last year on the broadest measure. Deflation is expected to top theAP - 539 words
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Article, Illustration279 2010-02-17 2 UMA SHANKARI - By UMA SHANKARI [SINGAPORE] Singapore will pay more attention to growing its “external wing” in places such as China, said Senior Minister Goh Chok Tong yesterday. “While our GDP (gross domestic product) growth is important, given the fact that we areKEVIN LIM/THE STRAITS TIMES - 279 words
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Article, Illustration1158 2010-02-17 3 ANDREW MARKS - But stocks may stay on edge this week as Europe ministers discuss Greek crisis WALL STREET INSIGHT By ANDREW MARKS US markets were closed on Monday for President’s Day, but investors seemed ready to start the week’s trading off on a positive note yesterday,REUTERS - 1,158 words
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Page 2 Advertisements
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Advertisement9 2010-02-17 2 Sembcorp still looking to grow S’pore business, Page 49 words
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Page 3 Advertisements
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Advertisement11 2010-02-17 3 CATS Recruit The first step on your ladder to success CLA/AUG06/g11 words
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Advertisement101 2010-02-17 3 ODBS^S I am looking for the best of business and pleasure i ii i 1 I y igr SL A We are priority banking surrounded by the excitement of Resorts World Sentosa NOW OPEN: DBS TREASURES BANKING CENTRE RESORTS WORLD SENTOSA Banking hours for personal financial counter services Address Hotline101 words
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COMPANY NEWS
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Article, Illustration836 2010-02-17 4 RONNIE LIM - CEO says group is in process of engaging consultant to study plan for 2nd cogen By RONNIE LIM SINGAPORE remains an important growth market for Sembcorp, even as it expands overseas, says president and CEO Tang Kin Fei. The group is planning a836 words
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Article, Illustration1307 2010-02-17 4 ROBERT HALILI - INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd THE buying rose while the selling among directors remained low last week based on filings on the Exchange in the second week of February. Buyers outweighed sellers with nine companies1,307 words
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Article, Illustration545 2010-02-17 6 EMILYN YAP - Telecommunications sector cited as the space to watch for such plays By EMILYN YAP HIGH-dividend stocks have yet to fall out of favour with some analysts, even though markets have climbed. In fact, investors might do well to hang on to some dividend-rich545 words
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238 2010-02-17 6 UMA SHANKARI - By UMA SHANKARI FAR East Organization said yesterday it has sold 100 units in its latest residential project, the 280-unit Altez in Enggor Street. The developer said that during a preview for priority customers last week, 100 of the 104 units238 words
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Article1139 2010-02-17 6 Q4 ended Dec 2009 Full year ended Dec 2009 NET PROFIT CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG (S$m) (S$m) NET PROFIT TURNOVER CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG (S$m) (S$m) TURNOVER 1 DBS Grp 2,041.00 1,929.00 5.8 6,603.00 6,053.00 9.1 493.00 295.00 67.1 1,572.00 1,475.00 6.6 2 Keppel1,139 words
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Page 4 Advertisements
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Advertisement339 2010-02-17 4 it HOUSING DEVELOPMENT BOARD LAND FOR SALE LAND PARCEL SENGKANG E6 AND YISHUN E3 On behalf of the Government of the Republic of Singapore, the Housing Development Board is pleased to invite tend for the sale of land parcel at Compassvale Bow and Yishun Avenue 11 For executive condominium housing339 words
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Advertisement1008 2010-02-17 4 WATS NOTICES IN THE MATTER OF THE BUILDING MAINTENANCE AND STRATA MANAGEMENT ACT AND IN THE MATTER OF THE LAND TITLES (STRATA) ACT AND IN THE MATTER OF THE MANAGEMENT CORPORATION STRATA TITLE PLAN NO. 1495 Notice is hereby given that at an Extraordinary General Meeting of this Management Corporation1,008 words
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Page 5 Advertisements
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Advertisement173 2010-02-17 5 S E N T O S A SINGAPORE CONGRATULATIONS ON THE OPENING OF SINGAPORE'S FIRST CASINO AND INTEGRATED RESORT m u ml «pf III ABUNDANT DINING OPTIONS Choose from an array of cuisine options from any of the 9 outlets at the casino. From savouring Kagoshima beef at Crockfords™ Grill,173 words
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ECONOMY WATCH
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619 2010-02-17 7 Central bank also concerned about risk from Greece, China cooling steps Reuters [SYDNEY] Australia’s central bank intends to raise rates gradually this year to contain inflation while keeping a wary eye on both sovereign risk abroad and the efforts of China to coolReuters - 619 words
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Article, Illustration553 2010-02-17 7 Economic recovery loses momentum, with fears over Greek crisis Bloomberg [FRANKFURT] German investor confidence declined for a fifth month in February as the economic recovery lost momentum and the Greek fiscal crisis threatened to spill over into other euro-area nations. The ZEW CenterBloomberg; REUTERS - 553 words
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Article, Illustration712 2010-02-17 7 It could lead to checks on budget deficits: BOC chief Bloomberg [MUMBAI] Bank of Canada (BOC) governor Mark Carney said investors’ concerns over rising debt levels may benefit the global economy by forcing policymakers to keep budget deficits in check. “What we’re seeing on theBloomberg; REUTERS - 712 words
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454 2010-02-17 7 Reuters Bloomberg [ABU DHABI] The United Arab Emirates economy should expand by about 3 per cent this year, Economy Minister Sultan bin Saeed al-Mansouri said on Monday. The global financial crisis slashed growth rates across the world’s largest oil exporting regionReuters; Bloomberg - 454 words
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468 2010-02-17 7 Move comes after probe finds human rights shortcomings AFP Reuters [BRUSSELS] European Union (EU) nations decided on Monday to withdraw preferential trade benefits from Sri Lanka due to “significant shortcomings” on human rights issues, the EU Commission announced. The decision cameAFP; Reuters - 468 words
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MALAYSIA/INDONESIA
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Article, Illustration501 2010-02-17 8 The former posts 2.5t profit and the latter 1.6t rupiah earnings for 2009 Reuters [JAKARTA] Two mid-sized Indonesian banks reported better-than-expected 2009 net profits, driven by higher fee income against the backdrop of a record low central bank policy rate, and forecastReuters; BLOOMBERG - 501 words
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326 2010-02-17 8 Reuters [JAKARTA] Indonesia’s new commodities exchange yesterday said it plans to launch a crude palm oil (CPO) futures contract in April, marking the second attempt to create a local benchmark price in the world’s top grower. PT Bursa Komoditi Derivatif Indonesia, the new commoditiesReuters - 326 words
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389 2010-02-17 8 Reuters [JAKARTA] Indonesia is seeking to resolve a land permitting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand’s top coal miner Banpu PCL, a senior government official said on Monday. Indonesian police temporarilyReuters - 389 words
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399 2010-02-17 8 Bernama [KUALA LUMPUR] Malaysia’s 40 richest people recorded an increase in their fortunes as they were collectively worth RM156.7 billion (S$64.35 billion) as at Jan 15, or 63 per cent more than the RM96.3 billion a year ago, on the back ofBernama - 399 words
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256 2010-02-17 8 Reuters [JAKARTA] Indonesia’s finance ministry rejected all bids for its sukuk auction yesterday, signalling it is confident of meeting its 2010 financing target and reducing its borrowing costs. Indonesia plans to raise a total of 175.1 trillion rupiah (S$26.36 billion) of debt thisReuters - 256 words
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175 2010-02-17 8 Reuters [JAKARTA] Indonesia’s 2010 inflation is seen between 5.5-5.7 per cent, within the central bank’s target range, Bank Indonesia’s senior deputy governor said on Monday. The market has been keeping close tabs on Indonesia’s inflation outlook because of a divergence in views between theReuters - 175 words
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Advertisement6 2010-02-17 8 T ft v\v i fl11 www.radio9l3.com6 words
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Advertisement11 2010-02-17 8 www.omy.sg cling, omy.sg l 1100-11 n r 2 lifestyle.omy.sg Ris Low11 words
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FOCUS: CHINA PROPERTY
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Article, Illustration1895 2010-02-17 9 Empty buildings are sprouting across China as companies with access to US$1.4t of new loans last year build skyscrapers Bloomberg [BEIJING] JfACK Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China.Bloomberg; BLOOMBERG - 1,895 words
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Page 9 Advertisements
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Advertisement114 2010-02-17 9 Authentic Teochew Raw Fish Prosperity Set Menus. Winning the toss for great New Year dining. When it comes to venues for Chinese New Year Lo Hei menus, Hung Kang wins the toss. Our truly authentic Teochew Prosperity Set Menus and unique Teochew Raw Fish have proven to be a popular114 words
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GREATER CHINA
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Article, Illustration755 2010-02-17 10 Exports will power growth despite govt bid to cool lending to check inflation Bloomberg [BEIJING] China’s economy, the world’s third biggest, may expand at a faster pace in 2010 even as officials cool lending to restrain inflation and avert asset bubbles. Goldman SachsBloomberg; AFP - 755 words
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861 2010-02-17 10 Factories scrambling to hire, retain workers as Western orders pick up Reuters [SHENZHEN] After six months working long, grinding hours churning out a stream of sports goods on a factory line in southern China, Wang Lili tried to quit her job,Reuters - 861 words
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Article, Illustration750 2010-02-17 10 AP [GUANGZHOU] Patrick Lin is sure he can succeed where others have failed, and get the Chinese hooked on doughnuts. But the doughnuts this entrepreneur is selling, in the city that gave its name to Cantonese cooking, won’t be readily recognisable to Westerners.AP - 750 words
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337 2010-02-17 10 Reuters [HONG KONG] American International Group turned down JPMorgan’s attempts to get in on the estimated US$10 billion Hong Kong IPO of its Asian life insurance unit, sources involved with the deal said last week, in a snub partly stemming fromReuters - 337 words
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348 2010-02-17 10 Reuters [MOSCOW] Debt-laden Russian tycoon Oleg Deripaska is planning to list a power firm in Hong Kong, banking sources said, weeks after his aluminium company Rusal’s IPO left investors nursing hefty losses. January’s initial public offering (IPO) in Hong Kong of aroundReuters - 348 words
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INDIA
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Article, Illustration713 2010-02-17 11 Ownership dispute with Econet on Zain’s Celtel Nigeria unit still pending BHARTI’S ZAIN BID Bloomberg [JOHANNESBURG] Bharti Airtel Ltd’s plan to buy most of the African assets of Kuwait’s Zain for US$10.7 billion may face challenges even before it begins its due diligence. India’sBloomberg; REUTERS - 713 words
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463 2010-02-17 11 Reuters [BANGALORE] Will it be third-time lucky for Indian telecoms czar Sunil Mittal? As the billionaire entrepreneur makes his third bid in as many years for a big acquisition in Africa, analysts say the persistent Mr Mittal has a strong chance of realisingReuters - 463 words
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Article, Illustration958 2010-02-17 11 Populism may keep govt spending high, with reform ignored ANALYSIS Reuters [NEW DELHI] The Indian government’s first full-year Budget since its resounding re-election may signal that increasing populism and ruling coalition infighting will triumph over policies to liberalise the economy and cutReuters; REUTERS - 958 words
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484 2010-02-17 11 Bloomberg [MUMBAI] India may be impeding foreign investors and curbing their appetite for shares in state-run companies as it seeks to raise a record 250 billion rupees (S$7.6 billion) using so-called French auctions. “It’s a big rigmarole to subscribe to these things,”Bloomberg - 484 words
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Page 11 Advertisements
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Advertisement69 2010-02-17 11 Served with Wagyu Yukke sauce (soy-sauce based dressing with garlic and ginger). Besides Yukke sauce, you can also choose from soy-sauce based Japanese dressing or traditional plum sauce. Sashimi Seafood Yusheng S.JL (&M) Served with soy-sauce based Japanese dressing or traditional plum sauce. I KURIYA DINING #01-28 Great World City69 words
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ASIA-PACIFIC/WORLD
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Article, Illustration568 2010-02-17 12 Management will not be awarded bonuses if they fail to meet targets Reuters [LONDON] Royal Dutch Shell Plc said it was overhauling its pay practices for top management, including a pay freeze for its chief executive, Peter Voser, and a limit onReuters; AFP - 568 words
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494 2010-02-17 12 Reuters AFP [MANILA] The Philippines, facing a record budget deficit this year, aims to raise at least US$500 million from a Samurai bond sale next week and another US$500 million from a retail bond issue in March, according to government sources. Manila hasReuters; AFP - 494 words
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Article, Illustration479 2010-02-17 12 Bloomberg [LONDON] US bank JPMorgan Chase Co has agreed to buy the non-US units of RBS Sempra Commodities LLP for US$1.7 billion to expand its energy- and met-als-trading units. JPMorgan will acquire the firm’s European and Asian global metals and oil units,Bloomberg; AFP - 479 words
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Article, Illustration55 2010-02-17 12 [LEISHAN, China] Villagers greet visitors at the entrance of the village of the Xijiang Miao ethnic group in Leishan County, southwest China’s Guizhou Province, on Feb 15. The performance of the Miao ethnic group in Xijiang Town, featuring its folk culture characters, attracted many visitors duringXINHUA - 55 words
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361 2010-02-17 12 The Titan King Casino will open its doors on Feb 26 in Bavet, about 120km from Phnom Penh Reuters [PHNOM PENH] A Cambodian tycoon will launch a US$100 million casino near the country’s border with Vietnam this month to attract foreign tourists and developReuters - 361 words
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475 2010-02-17 12 Analysts pessimistic, however, cutting Q1 profit projections Bloomberg [NEW YORK] US executives are boosting earnings estimates at the fastest rate in at least eight years just as optimism fades among analysts a signal that preceded gains for the Standard Poor’s 500 IndexBloomberg - 475 words
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WORLD
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739 2010-02-17 13 But limited overseas relief seen despite govt backing of US mortgage firms [WASHINGTON] As the US housing market boomed in the past decade and fuelled a bull market in mortgage investments, Norway’s gov-ernment-owned investment fund went along for the ride,739 words
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602 2010-02-17 13 Bloomberg [WASHINGTON] President Barack Obama may be heading for a clash with the bond vigilantes who plagued Bill Clinton, the last Democratic president. Edward Yardeni, the economist who coined the term almost 27 years ago, says these institutional investors must come out ofBloomberg - 602 words
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Article, Illustration815 2010-02-17 13 But a weaker euro runs the risk of stoking inflation Bloomberg [FRANKFURT] The budget crisis gripping Greece and depressing Europe’s single currency is proving a boon for the region’s exporters. The country’s struggle to cut its deficit has pushed the euro toBloomberg; BLOOMBERG - 815 words
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481 2010-02-17 13 Bloomberg [GENEVA] Foreign exchange traders are betting the euro’s slide will derail Swiss National Bank president Philipp Hildebrand’s campaign to slow the franc’s biggest rally in a year. Forecasters have raised the median year-end prediction the fastest since 2006, BloombergBloomberg - 481 words
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651 2010-02-17 13 Help jobless at home instead of southern spendthrifts, they say NYT [BERLIN] As European finance ministers refused on Monday to name specific measures to rescue Greece and the continent’s common currency, opposition grew among Germans to bailing out what they call spendthrifts toNYT - 651 words
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509 2010-02-17 14 Surge reflects pretax gain of £5.3b from sale of Barclays Global Investors to BlackRock AP Bloomberg [LONDON] Barclays plc yesterday reported a fourth-quarter profit of £6.9 billion (S$15.24 billion), more than eight times larger than a year earlier, due to gains on theAP; Bloomberg - 509 words
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Article, Illustration122 2010-02-17 14 Reuters [PARIS] A combo artwork of Chinese artist Ko Siu Lan (above) was re-installed on the facade of Ecole Nationale Superieure des BeauxArts (ENSBA), a prestigious French fine arts school, in Paris. France’s Culture Minister Frederic Mitterrand called on the art school lastReuters; PHOTOS: REUTERS, AFP - 122 words
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403 2010-02-17 14 Bloomberg [LONDON] Barclays Capital, the investment banking unit of Barclays Plc, has allocated more in pay and bonuses as a percentage of revenue than Goldman Sachs Group. Barclays set aside 38 per cent of revenue in remuneration for employees inBloomberg - 403 words
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538 2010-02-17 14 Accounting changes will form basis for a global standard Reuters [LONDON] The world’s leading accounting standards setter has bolstered its defences from political pressure and reinforced its role as an independent guide to investors rather than a tool for policymakers. The International AccountingReuters - 538 words
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Article, Illustration374 2010-02-17 14 AP [MOSCOW] A low-profile steel magnate has surpassed flashier tycoons to become Russia’s richest man, a business magazine said on Monday. Finans magazine said the number of Russians worth more than US$1 billion jumped from 49 to 77 last year as the global downturnAP; BLOOMBERG - 374 words
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653 2010-02-17 14 Industry experts mull prospect of having 2 vice-chairs Reuters [LONDON] The hunt for a new chairman of the world’s top accounting standard setter is sparking discrete jostling for a job Asian candidates are seen having the edge as economic influence shiftsReuters - 653 words
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754 2010-02-17 15 Carmaker more than doubles its budget for large-truck programme Bloomberg [WASHINGTON] General Motors (GM) has slashed US$10.7 billion from annual costs, freeing up money for marketing and vehicle upgrades while boosting chief executive officer Ed Whitacre’s push for a 2010Bloomberg - 754 words
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Article, Illustration780 2010-02-17 15 DeGeneres in a popularity tie with Winfrey: survey NYT [NEW YORK] Executives at Warner Brothers have long believed that Ellen DeGeneres is the heir apparent to Oprah Winfrey in daytime TV. Still, they were startled by the news that a media research firmNYT; PHOTOS: REUTERS, AFP - 780 words
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393 2010-02-17 15 Reuters [MOSCOW] Russia must maintain tight political control if it is to successfully modernise its economy and compete with China and the United States, the Kremlin’s top strategist said on Monday. Deputy Chief of Staff Vladislav Surkov, a key architect of Russia’sReuters - 393 words
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550 2010-02-17 15 Increased capacity, poor margins may cause plant closures Reuters Bloomberg [LONDON] Consolidation is needed in the global oil refining sector, the chief economist of BP plc said on Monday, indicating more tough decisions ahead for an industry beset by poor margins. Oil companies including BPReuters; Bloomberg - 550 words
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411 2010-02-17 15 Reuters [COPENHAGEN] Danish companies are vying to introduce enzymes for “sec-ond-generation” biofuels made from farm waste such as straw or corn cobs instead of from food crops. On Monday, Danisco launched a new enzyme for bioethanol production from plant wasteReuters - 411 words
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FOCUS: CHINA-AUSTRALIA TIES
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Article, Illustration1655 2010-02-17 16 Increasing economic ties haven’t bought China much love from Down Under, with Australians increasingly wary of the behemoth LAT-WP [NEWMAN, Australia] HERE in this land of searing heat, scrub and eucalyptus, a land so vast that road signs warn the next gas station is 600 milesLAT-WP; AP - 1,655 words
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Article, Illustration458 2010-02-17 16 Reuters [SYDNEY] Australia and China will resume stalled free trade talks this month despite tensions over the trial of an Australian mining executive in China, Australia’s trade minister said. But agriculture remains a stumbling block. “The political will in my judgementReuters; REUTERS - 458 words
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Transport HUB
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Article979 2010-02-17 17 DAVID HUGHES - It affects the quality of accommodation and the training of junior officers STRAIT TALK By DAVID HUGHES YOU would have thought that the answer to a simple question like “How big is that ship?” would be straightforward. But shipping industry insiders (and long-time readers of this column)979 words
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257 2010-02-17 17 Reuters [ADEN, Yemen] Yemen and Dubai’s DP World plan a major expansion of Aden’s container port, betting on growth in the poorest Arab country despite Al-Qaeda, instability and Somali pirates, officials said. In 2008, Yemen formed a joint venture with the Du-bai-basedReuters - 257 words
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Article, Illustration785 2010-02-17 17 Recovery pushes charter rates 31% higher by December Bloomberg [LONDON] The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 31 per cent jump in charter rates by December. The rate for leasing capesizes, boatsBloomberg; BLOOMBERG - 785 words
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Article281 2010-02-17 17 SGX '000 Feb 12 S$ +/-Vol CH Offshore 0.65 0.01 410 Chuan Hup Hldgs 0.31 unch 50 Cosco Corp 1.25 -0.01 6065 CWT Ltd 0.91 -0.02 5210 Ezra Hldgs 2.25 0.02 2873 First Ship Lease 0.58 unch 374 Freight Links unch unch 0 Grand Banks unch unch 0281 words
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TRANSPORT HUB: AVIATION
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Article, Illustration606 2010-02-17 18 Annual gain may come as carrier wins antitrust nod for American alliance Bloomberg [LONDON] British Airways plc (BA) may reap a £150 million (S$331 million) boost to earnings after winning antitrust approval for a deeper alliance with AMR Corp’s American Airlines on lucrative routesBloomberg; REUTERS - 606 words
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Article, Illustration704 2010-02-17 18 Local authorities in dispute with Kuwaiti operator of airport AP [NAJAF, Iraq] Najaf’s airport was meant to be a symbol of Iraq getting back to business, and in many ways it’s been a success, creating jobs and spurring a construction craze in the ShiiteAP - 704 words
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213 2010-02-17 18 Xinhua [SEOUL] South Korea’s Incheon International Airport (IIAC) has been voted the world’s best airport by the Airport Council International (ACI) for the fifth straight year, the airport said yesterday. The IIAC scored the highest marks in the ACI’s annual AirportXinhua - 213 words
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Article2925 2010-02-17 18 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi EY470 2200 SQ456 1245 Adelaide LH9771 1740 9W4082 2215 SQ268 1740 AF8088 2215 VS7268 1740 BA7382 2215 JL5083 2215 QF82 2215 LH9770 2350 SQ269 2350 VS7269 2350 Ahmedabad NH6293 0710 SQ531 0710 Amsterdam LO4031 0610 LO4032 2350 SQ323 06102,925 words
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TRANSPORT HUB: LAND
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Article, Illustration733 2010-02-17 19 SAMUEL EE - S’pore MD expresses confidence it will eventually become No 1 in its segment By SAMUEL EE THE new Audi A8 is superior from a technological and production perspective, but it will take some time to catch up with the incumbent leaders in the733 words
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412 2010-02-17 19 Reuters [FRANKFURT] Germany’s TUI AG, owner of Europe’s largest travel company TUI Travel, was optimistic for 2009/10 as recent bookings showed that holiday-makers do not want to miss out on summer holidays. “Bookings in the key source markets have improved notably inReuters - 412 words
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Article, Illustration739 2010-02-17 19 Bloomberg [LONDON] Eurostar Group Ltd predicted that rival rail companies will overcome safety hurdles to running their own services through the Channel Tunnel as European Union reforms encourage operators to enter new high-speed markets. Changes to 15-year-old safety guidelines will make it easier for would-beBloomberg; REUTERS - 739 words
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467 2010-02-17 19 It appoints former head of GM Europe as chief executive Reu ters AFP [NEW DELHI] Tata Motors, India’s largest vehicles maker, is keen to sell a stake in its financing arm, a senior official said yesterday. “We are looking at variousReuters; AFP - 467 words
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425 2010-02-17 19 Reuters [ORLANDO, Florida] Hyundai Motor Co aims to increase its share of the US market to 4.5 per cent this year from 4.2 per cent in 2009, helped by popular new product launches and aggressive marketing. South Korea’s Hyundai, the only majorReuters - 425 words
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Page 17 Advertisements
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Advertisement51 2010-02-17 17 BIMCO ASIA SHIPPING SCHOOL t V i r r i\l L In collaboration with the Maritime and Port Authority of Singapore M P A Programme Registration available at www.bimco.org For more information, please contact BIMCO Education:* Tel: +45 4436 6800 Fax: +45 4436 6868 E-mail: education@bimco.org www.bimco.org "*C rw BIMCO51 words
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Page 18 Miscellaneous
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Miscellaneous324 2010-02-17 18 CRYPTIC CROSSWORD Across 1 Having no certain course, Ernie’s partner crossing desert (7) 5 Runs on a track in relentless struggle (3,4) 9 Offence holding it, a protest (3-2) 10 Mistaken about revolutionary duplicating machine, American (9) 11 A cheese in Roget (clue’s cryptic) (10) 12 Check second Scottish river324 words
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Advertisement19 2010-02-17 19 ft Lianhe Zaobao S-chip food companies let boost festive buying for CNY ♦afcisiaaiBT#^ For Subscription, call 6388 3838 www.sphsubscription.com.sg19 words
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EDITORIAL & OPINION
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502 2010-02-17 20 EDITORIAL THE Singapore Airshow ended on another good note, a success in terms of what was on display and in terms of contracts signed during the six-day event in Singapore. About US$10 billion worth of contracts were sewn up. While dubbed an airshow,502 words
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Article, Illustration772 2010-02-17 20 ROBERT SAMUELSON - THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group IT’S become apparent from recent events that America’s political, business and scholarly elites have fundamentally misjudged China. Conflicts with China have multiplied. Consider: The undervalued yuan and its effect onThe Washington Post Writers Group - 772 words
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Article, Illustration1155 2010-02-17 20 ERIKA KINETZ - The debate over genetically modified food is noisily beginning in India By ERIKA KINETZ AP IT BEGAN quietly in America a decade ago, with a tomato. Since the introduction of the Flavr Savr tomato, engineered for long shelf life, genetically modified food hasAP - 1,155 words
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929 2010-02-17 21 OOI BOON JIN - The Republic must swiftly improve its personal-tax regime to make high-calibre individuals want to settle down here By OOI BOON JIN The writer is executive director and head of international executive services at KPMG in Singapore. The views expressed herein are those of929 words
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Article, Illustration969 2010-02-17 21 ROBERT ZOELLICK - Haiti’s reconstruction and recovery require long-term commitment. When the cameras depart as they are already beginning to do donors must not depart with them By ROBERT ZOELLICK Robert B Zoellick is president of the World Bank Group. This article first appeared in Politico, aPHOTOS: AP - 969 words
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FOCUS: TRANS-PACIFIC PARTNERSHIP
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Article, Illustration1959 2010-02-17 22 CLAUDE BARFIELD,PHILIP LEVY - The future of Asian regionalism is in extreme flux, presenting President Obama with both opportunities and dangers. This column argues Trans-Pacific Partnership negotiations present an opportunity to trigger a wholesale reconfiguration of Asian commercial alliances in a way that would meet important and long-heldAP FILE PHOTO; AFP - 1,959 words
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FINANCE & COMMODITIES
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365 2010-02-17 23 In local curr In S$ In US$ dy yr dy yr dy yr Feb 15 Index Change Change Change Change Change Change World Index Preliminary 797.2 0.0 -4.2 -0.1 -4.7 0.0 -5.2 EAFE Preliminary 743.7 -0.1 -5.2 -0.2 -6.8 0.0 -7.3 Europe Preliminary 1059.1 0.3365 words
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Article179 2010-02-17 23 Feb 12 $S Offer Bid Overnight 1/8 1/16 1-month 7/16 3/16 2-months 9/16 5/16 3-months 11/16 7/16 Overnight mode: 3/16 US$ Offer Bid 7 days 0.23 0.18 1 month 0.28 0.23 2 months 0.35 0.25 3 months 0.37 0.27 6 months 0.50 0.40 9 months 0.90 0.60 12179 words
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Article22 2010-02-17 23 Feb 12 S$ Bid Offer 1-month 1.4117 1.4132 2-months 1.4119 1.4135 3-months 1.4120 1.4136 6-months 1.4125 1.4142 Source: OCBC22 words
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Article132 2010-02-17 23 Feb 12 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2430 1.2810 Can dollar 1.3350 1.3520 Euro 1.9170 1.9400 NZ dollar 0.9750 0.9970 Sterling pound 2.2000 2.2260 US dollar 1.4040 1.4200 Local dollars to 100 units of foreign132 words
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Article23 2010-02-17 23 Feb 12 Open High Sett STI Feb SIMSCI Feb 330.4 331.2 330.3 Taiwan Feb Source: MF Global (S) Pte. Ltd23 words
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Article191 2010-02-17 23 Feb 12 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Mar 10 312.9 312.9 312.9 1 592 Apr 10 310.0 310.0 312.0 80 361 May 10 313.5 313.5 313.5 158 680 Jun 10 313.5 60 770 Jul 10 313.5191 words
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Article90 2010-02-17 23 Feb 12 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 20.05.2010 0.39 0.4 0.39 1-Year BY*****N 01.11.2010 0.39 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0A 2.625 01.04.2012 104.51 104.63 104.55 5-Year N*****0N 1.375 01.10.2014 100.3390 words
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Article105 2010-02-17 23 Feb 12 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 10 945.00 943.00 948.00 926.00 May 10 954.00 952.00 957.00 935.25 Jul 10 960.75 958.75 961.75 942.00 Aug 10 956.00 954.25 957.00 939.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Mar 10 37.84 38.14 38.15105 words
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Article77 2010-02-17 23 CRUDE OIL PRODUCTS Feb 15 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 72.63 0.51 WTI (Near Mth) 73.99 -0.16 Dubai (1-Mth F) 72.45 0.24 Tapis blend 75.50 0.25 Minas 74.80 0.25 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 72.88 unch Jet Kerosene 81.60 unch US$/barrel Opec Oil77 words
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2612 2010-02-17 23 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3 unch 450 1 15 24 4.83 51 2036 Advance SCT Ltd W*****9 0.5 1 87 1844 9.00 6 8756 Asiatic Grp (H) Ltd W*****2 8.52,612 words
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Article465 2010-02-17 23 Feb 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.934 6.069 0.651 6.900 41.199 82.949 0.800 10.229 3.040 1.273 75.293 41.066 1.254 6.802 0.954 28.506 29.463 0.565 0.888 Canada 1.071 6.497465 words
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Article85 2010-02-17 23 Feb 12 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths85 words
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Article155 2010-02-17 23 Feb 12 US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2534 1.2550 0.8880 0.8882 Canadian dollar 1.3419 1.3435 0.9507 0.9508 Euro 1.9251 1.9275 1.3639 1.3641 NZ dollar 0.9847 0.9864 0.6976 0.6981 Sterling pound 2.2193 2.2219 1.5723155 words
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Article139 2010-02-17 23 Feb 16 GOLD (US$/oz) Feb 11 Feb 12 Hong Kong 1080.30 CLOSE Feb 11 Feb 15 London 1083.75 1098.90 1084.55 1099.90 Source: Thomson Reuters CAST BAR Feb 12 (S$) Selling Buying Kilobar "53,151.18" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 118.77 50 5gm 338.12 248 10gm 603.48139 words
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Article71 2010-02-17 23 Feb 15 Feb 15 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2021.50 2025.50 3 months 2054.00 2056.00 Copper, Grade A (US$/tonne) Cash 6846.75 6921.50 3 months 6865.00 6939.00 Lead (US$/tonne) Cash 2164.00 2109.75 3 months 2180.00 2125.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article77 2010-02-17 23 Feb 12 COCOA (£/tonne) Close Prev High/Low Mar 10 2298 2285 2322/2294 May 10 2278 2256 2302/2271 Jul 10 2256 2237 2280/2253 Sep 10 2238 2219 2253/2241 COFFEE (US$/tonne) Close Pev High/Low Mar 10 1286 1300 1298/1282 May 10 1318 1331 1330/1313 Jul 10 1350 1364 1361/1346 SUGAR (US77 words
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Article66 2010-02-17 23 Feb 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 10 2575 2575 2575 2575 80 258 Mar 10 2553 2586 2586 2553 577 5963 Apr 10 2546 2579 2580 2546 4477 ***** May 10 2580 258066 words
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Article319 2010-02-17 23 Feb 16 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar10 99.7175 0 8971 Jun10 99.5800 0 7716 Sep10 99.3550 0 2735 Dec10 99.0400 0 1922 EUROYEN TIBOR FUTURES Mar10 99.5700 99.5700 99.5650 99.5700 0 4548 Jun10 99.6700 99.6700 99.6300 99.6650 0 1622 Sep10 99.6850 0 2021319 words
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6447 2010-02-17 24 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN RTM/ANR/TIL *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination SAN SIMEON NEW ORLEANS/CAMDEN *Loads E./W.6,447 words
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Page 24 Advertisements
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Advertisement27 2010-02-17 24 TO ADVERTISE, CIA LI IOE WONG Can they find your set-vices here in -the Shipping Times? 9620 1 327 I Mt DUbl Ivtas I IIVlt:a SHIPPING TIIVIES27 words
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Page 25 Advertisements
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Advertisement32 2010-02-17 25 Experienced sh/p maintenance services wanted. £74 Shipping Times? services required by services shippers here in th< Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 132*7 m THE BUSINESS TIMES SHIPPING TIMES32 words
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executive Money
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Article, Illustration1181 2010-02-17 26 MICHAEL PATTERSON - Company analysts shrug off pessimism in the emerging markets and predict a strong rebound for investments in 2010 By MICHAEL PATTERSON Bloomberg [LONDON] The biggest tumble in developing nation stocks in 11 months is making investment strategists at Morgan Stanley, Credit Suisse Group AGBloomberg; AP - 1,181 words
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608 2010-02-17 26 AP [WASHINGTON] When Lou Jiwei was one of China’s up-and-coming Finance Ministry officials, he did a two-year stint as vice-gover-nor of one of the country’s poorest provinces, Guizhou. In a typical week, he attended a soccer game, visited a chemical plant contemplating a public offeringAP - 608 words
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Page 26 Advertisements
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