The Business Times, 20 September 2010

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sf!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Monday, September 20,2010
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  • 897 1  -  Ngee Ann Development lags peers in filling space; may redevelop 268 Orchard Road By KALPANA RASHIWALA [SINGAPORE] Right in the heart of the city, some high-quality office space is going abegging. Slightly more than 20 per cent of the space owned by Ngee
    ARTHUR LEE  -  897 words
  • 863 1  -  MIT, GLP listings may put investors in bind, but overlap may not be huge By JAMIE LEE [SINGAPORE] The rare back-to-back launches of two major real estate IPOs this week Mapletree Industrial Trust (MIT) and Global Logistic Properties (GLP) will
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  • 136 1 MARKETS Weekly Change ST Index 3,076.37 +54.09 KL COMP 1,466.97 +29.19 NIKKEI 225 9,626.09 +386.92 HANG SENG 21,970.86 +713.47 SET INDEX 923.57 -1.00 JAKARTA COMP 3,384.65 +153.76 MANILA COMP 3,979.35 +76.79 SEOUL COMP 1,827.35 +24.77 SHENZHEN B 718.45 +9.11 MUMBAI IND 19,594.75 +795.09 DOW 10,607.85 +145.08 NASDAQ 2,315.61
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  • Page 1 Advertisements
    • 182 1 BizIT Semicons lead electronics revival DINING OUT Meaty matters PAGE 22 PROPERTY Private home sales slowing PAGE 4 PAGE 28 UNTICKING THE BOX Missing pieces of corporate governance puzzle PAGE VIEWS FROM THE TOP CEOs talk about using social media for their business PAGES 12 13 THE DRIVER'S WATCH No
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  • TOP STORIES
    • 569 2 Gaping vacancies among Ngee Ann City offices RIGHT in the heart of the city, some high quality office space is going abegging. Slightly more than 20 per cent of the space owned by Ngee Ann Development in Ngee Ann City’s office towers on Orchard Road is believed to
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    • 674 2  -  Political uncertainty could spell market volatility ahead but some analysts see upsurge after Nov 2 By ANDREW MARKS THE mid-term elections are just six weeks away which means that politics will dominate investor sentiment as the Democrats and Republicans battle it out for
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    • 284 2 It wants immediate, unconditional release of trawler captain Reuters [BEIJING] China suspended high-level exchanges with Japan yesterday and promised tough countermeasures after a Japanese court extended the detention of a Chinese captain whose trawler collided with two Japanese coastguard ships. The spat between Asia’s
      Reuters  -  284 words
    • 628 4  -  Effects of cooling measures spreading to high-end segment By KALPANA RASHIWALA [SINGAPORE] Private residential sales appear to have been much quieter last week as the buzz created in the preceding week, when NV Residences was released, ebbed. The government’s August 30
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    • 638 4  -  Price cap on higher proportion of power supply on the cards following review By RONNIE LIM [SINGAPORE] To ensure there is no undue market power being wielded by any generating company, especially the “big boys”, Singapore is looking at capping prices on
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    • 848 4  -  Speculation rises ahead of FOMC’s meeting tomorrow WALL STREET INSIGHT By ANDREW MARKS EVEN as the US stock market fought its way to a third straight week of gains, continuing to surprise the many Wall Street analysts who had
      BLOOMBERG  -  848 words
  • Page 2 Advertisements
    • 127 2 ACCOUNTANCY HUB Prouides you High Quality, Fast 6 Reliable Recounting and Bookkeeping Seruices. (Established by a team of qualified accounting professionals with more than 20 years experience, renowned for their integrity and reliability). Benefits of choosing Accountancy Hub, Speed Get your management accounts ready within 2 weeks from the date
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      187 words
    • 7 2 A test of conservative purity, Page 20
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  • Page 4 Advertisements
    • 490 4 GRANDBANKS ACHTSLIMITED (Incorporated theRepublic Singapore) CompanyRegistrationNumber:*****1189E NOTICEOFANNUALGENERALMEETING NOTICEISHEREBYGIVEN thattheAnnualGeneralMeeting theCompanywillbeheld the PanPacifi Orchard,10ClaymoreRoad,Singapore*****0on Friday October2010at10.00amt ot to transactthefollowingbusinesses: OrdinaryBusiness )1 1) TToo receiveandconsidertheDirectors’ReportandAuditedAccountsfortheyearended30June2010andtheAuditors’Reportthereo (Resolution )2 2) TToo re-electMrJeffreyStewartBland,whoretirespursuant Article86 theArticles Association theCompanyandbeingeligibleoffershimselfforre-election asDirector [seeExplanatoryNote(1)] (Resolution )3 3) TToo re-electMrPeterKevinPoli,whoretirespursuant Article86 theArticles Association theCompanyandbeingeligibleoffershimselfforre-electionas Director (Resolution )4 4) TToo re-appointMrRogerGaimsterLangdale,as directorpursuant
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  • COMPANY NEWS
    • 896 5  -  HOCK LOCK SIEW By VEN SREENIVASAN THE fate of mainboard-listed TT International Ltd (TTI), a company with presence in more than 60 countries and owner of Akira, one of Singapore’s most well-known brands, will be decided this Friday by creditors who have been ordered
      896 words
    • 469 5  -  Its cutting edge fuel system will also be distributed in China By LYNN KAN IT was a busy weekend for mainboard-listed Transcu Group as it made a series of announcements which boosted its commercial role in its breakthrough energyefficient product, the nanoemulsion fuel
      469 words
    • 1031 9  -  It may be time to address the fundamental issues of people, ethics and risk management to improve the overall standard UNTICKING THE BOX By MAK MAK YUEN TEEN Associate Professor Mak Yuen Teen set up the Corporate Governance and Financial Reporting Centre of the
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    • 403 9 Sep 17 BANKS 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 5.5 Bank of
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    • 302 9 COMPANY MEETING PLACE DATE TIME Eastern Hldgs E 1100 Lower Delta Road, #04-01 EPL Building, Singapore *****6 20-Sep 4.00pm Vicplas Intl E 35 Joo Koon Circle Singapore *****0 20-Sep 10.00am OKP Hldgs E 6 Tagore Drive #B1-06, Tagore Building Singaapore *****3 21-Sep 4.00pm Tee Intl A York Hotel
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  • Page 5 Advertisements
    • 123 5 A Specialized BUSINESS OPPORTUNITY An established full service Post Production company based in Singapore, specializing in high-end post production services is looking for interested parties to take over the full facilities comprising of 7 post production suites for offline and online editing, special effects, animation and audio facilities for the
      123 words
    • 207 5 o MARKETS get thinking FX/CFD trading Trade global stock indices on tight spreads and no commission, 24 hours a day. [BgnwaiE VMM LJIIMM OwaSBWCahlSGtnCa**® Buy I MirHet 329.7 0 4671.5 0 5345.5 8 0 ***** 0 5678 0 1107.68 Si 0 681.90 8 (3 3752.3 0' ***** Q 4848 a
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  • SINGAPORE MARKETS
    • 702 6  -  STOCKS R SIVANITHY Senior Correspondent FOR the sake of those readers who missed one of our recent reports, this bears repeating where would the local market be without the Genting and Jardine stables? Genting’srole in the local market’s scheme of things should by now
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    • 512 6  -  COMMODITY WATCH By BOB BIOLSI The writer is director, Research Product development, CME Group THE crude oil marketplace is subject to change based on global events anywhere at any time. One of the best ways to take advantage of this inherently volatile market,
      512 words
    • 412 6 CURRENCIES Bloomberg [BANGKOK] Asian currencies strengthened for a third week, led by India’s rupee, as global investors pumped more funds into the world’s fastest-growing economies. China’s yuan had its best week since May 2008 as the US called for faster appreciation
      Bloomberg  -  412 words
    • 1603 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Prop Ltd 2.80 2.44 10 10.75 10.51 1.28 1.15 ARA Asset Mgt Ltd 1.75 1.75 4 7.33 15.43 1.28 1.14 Armstrong Industrial Corp Ltd 1.00 1.00
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    • 4 6 WEEKLY
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    • 66 6 Sep 17 VALUE CLOSE BT OB/OS 748.00 +102.0 BT CADI -*****.00 +166.0 BT 10-day MA -*****.00 +75.00 FTSE ST Mid Cap 758.22 +4.47 FTSE ST Small Cap 568.13 +7.01 FTSE ST All Share 760.37 +3.03 FTSE ST China Top 281.51 +0.62 FTSE ST China 316.38 -1.43 FTSE
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    • 59 6 VOLUME *Genting HK US$ 1,151,790,000 Genting SP 802,882,000 China Hongxing 411,535,000 UniFiber 295,844,000 Uni Envtech 262,271,000 Golden Agri 216,340,000 Equation 213,789,000 Informatics 211,196,000 Transcu Grp 202,393,000 Memstar 179,525,000 VALUE($) Genting SP 1,586,967,320 *Genting HK US$ 761,569,342 DBS Grp 371,305,022 SGX 339,108,455 Noble Grp 276,734,380 UOB 271,408,424 SingTel
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    • 112 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 889.2 5.4 DBXT iBoxxKR 5US$ ***** 423.9 2.8 JMH 4570 383.9 6.7 GLD 10US$ ***** 333.3 2.0 DBXT USDIGInfl 5US$ ***** 312.0 1.0 Thai Prime Fd 946 221.3 21.3 JSH 2648 197.3 5.9 DBXT MSKorea 10US$ 4999 192.0 3.0 DBXT SPASX200
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    • 124 6 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 5063-213.3 -3.1 DBXT FTVietnam 10US$ 3778-125.3 -2.4 DBXT iBoxxSing 5SG$ ***** -64.0 -0.5 UOB 1852 -24.0 -1.3 DBS Grp 1394 -22.0 -1.6 CityDev 1158 -20.0 -1.7 APStrategic 161 -14.0 -8.0 SGX RB ePW*****1 6 -13.0 -68.4 DBXT MSTHAI 10US$ 1363 -9.3
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    • 86 6 Where S$ stands Sep 17 CHNG YR 2010 CLOSE FR Sep 16 S$ LOW S$ HIGH US$ 1.3335 0.27 1.4219 1.3335@ Euro 1.7536 -0.44 2.0153 1.6886 Pounds 2.0959 -0.56 2.2831 2.0003 A$ 1.2620 -0.72 1.2960 1.1515 Yen* 1.5528 0.65 1.6080 1.4467 Rupiah* 0.***** 0.38 0.*****0.*****@ Baht* 4.3387 -0.12 4.3611
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    • 1473 8  -  TEH HOOI LING Senior Correspondent IT’s been two great weeks for stocks, especially small-cap stocks and those with exposure to China on the back of some stronger-than-expected economic numbers coming out from the Middle Kingdom. On average, our portfolios advanced by 6 per cent,
      1,473 words
    • 1641 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd BUYING fell while the selling among directors was flat last week based on filings on the Exchange from Sept 13 to 17. A total of 16 companies recorded
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  • Page 6 Advertisements
    • 92 6 Phillip Futures Bringing Global Markets Closer to You www.phillipfutures.com.sg 6538 0500 Phillip Futures Bringing Global Markets closeijto you <' Brought to you by PhiISp Futures Pte Ltd (A member of PhillipCapital) CO, Reg. No: *****5695G The above information does riot constitute an investment advice, an offer/solicitation to buy/sell the above
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  • Page 7 Advertisements
    • 121 7 1) .1* 1 1 4 1 I < &&AI f i :»yi )M" a v 6* r mil IT'S f s I! ■m II iH 1 raw V J mmd f W=Rr —3 si V A ]\y v V 1 TD GIVE YOU THE LUXURY PERSONAL SPACE. Privacy welcomes you
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  • Page 9 Advertisements
    • 129 9 S f m\ r A .V ,/,i& MM 't \M i 0 *\'VV /ti' ««f V*vw* ■i mww> i$;h '#> ah III i '.!>'/ I j /Ml' fffl! m 7 t'ft gsgv W H #;*v? t fc 4»~. HE MAKES FORMULA ONE HAPPEN WITH ENERGY, DRIVE AND VISION. SO DO
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  • SINGAPORE NEWS
    • 978 10  -  Yew Choon is thriving even after decades in the business, report LIM ZHI JUN, QUEK JIN LEUN DONNE and WANG SIYAN CHRISTABEL LIM ZHI JUN, QUEK JIN LEUN DONNE ,WANG SIYAN CHRISTABEL The writers are students of NUS Business School KNOWN as a one-stop transportation
      ARTHUR LEE  -  978 words
    • 232 10 A POSB charity run yesterday raised $325,000 to help needy children in Singapore. The Singapore Children’s Society will receive $125,000 while the other $200,000 will be channelled to the Community Development and Welfare Fund of the Pasir Ris-Pung-gol Group Representation Constituency’s (GRC)
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    • 952 10 Payment Ex Books Pay Ann (cts) date close date date ABR Hldgs aw 1.000 08-Sep 13-Sep 29-Sep 23-Aug Adampak Ltd aw 1.000 03-Sep 07-Sep 24-Sep 13-Aug Advanced Hldgs aw 0.160 09-Sep 14-Sep 23-Sep 27-Aug Armstrong Ind aw 2.000 09-Sep 14-Sep 30-Sep 13-Aug Ascott R Trust cf 17-Sep 21-Sep
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    • 153 10 SING Holdings has inked a deal to buy Robin Court and the next door 1 Robin Drive for a total $77.33 million. This works out to about $1,363 per square foot of potential gross floor area. No development charge is expected, Sing Holdings
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  • Page 10 Advertisements
    • 756 10 Celebrating Singapore´s Enterprising Spirit 2010 This series is part of the Enterprise 50 Educational Project between the E50 partners and the NUS Business School. Yew Choon was among the E50 winners in 2009. The annual E50 ranking is co-organised by The Business Times and KPMG, sponsored by OCBC Bank, and
      756 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 935 11  -  The way to retain customers is to understand if they perceive true value in products or services, says DAVID EVANS DAVID EVANS The writer is chairman and CEO of Grass Roots Group, a performance improvement company that helps organisations achieve their goals through providing
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    • 876 11  -  Students impress judges at the International Trade Challenge finals, reports YEN PEI WEN CAMPUS LIFE YEN PEI WEN CREATIVE and ingenious ideas flowed thick and fast at the International Trade Challenge (ITC) finals held here in Singapore last month. The students were tasked with developing
      AP  -  876 words
  • Page 11 Advertisements
    • 271 11 Be smart with your finances FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors’ Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
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  • VIEWS FROM THE TOP
    • 4718 12 THIS WEEK’S TOPIC Are you in favour of using social media in organisations like yours for business purposes? What advice would you give organisations considering this for the first time? Teresa Lim Managing Director IBM Singapore IBM recently commissioned a survey of 1,000 IBM business partners worldwide on
      PHOTOS: BLOOMBERG, AFP  -  4,718 words

  • Page 13 Advertisements
    • 129 13 A full list of views from CEOs is also available at http://businesstimes.com.sg Wiley is pleased to Announce Our Alliance with Bloomberg PRESS John Wiley Sons is proud to become the exclusive publisher of titles bearing the Bloomberg Press imprint. Since 1996, Bloomberg Press has published informative books for financial professionals
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  • MALAYSIA/INDONESIA
    • 807 14  -  Developers’ belief that prices will keep escalating due to rising raw material costs and land scarcity only adds to anxiety MALAYSIA INSIGHT PAULINE NG KL Correspondent KUALA Lumpur real estate appears to have notched a new benchmark. That a 29,127-square-foot vacant land was sold recently
      807 words
    • 432 14 AFP [JAKARTA] State-owned Garuda Airlines and Krakatau Steel are among a clutch of Indonesian firms planning public offerings as investors clamour to gain a foothold in South-east Asia’s emerging giant. Foreigners have been pouring money into the region’s biggest economy, which was largely unaffected
      AFP  -  432 words
    • 1998 14 Source: Reuters VOL Sep 17 RM +/-(‘000) A M Realty/D 0.49 0.03 94 Abric Bhd/D 0.23 -0.01 115 Advance Synerg/D 0.15 unch 295 Adventa Bhd/D 2.58 -0.04 221 Ae Multi Hldgs/D 0.34 unch 485 Affin Holdings/D 3.18 0.02 1316 Ahmad Zaki Res/D 0.82 -0.01 197 Aic Corp/D 0.87
      Source: Reuters  -  1,998 words
  • Page 14 Advertisements
    • 433 14 nI n In ttheMatt The Companies Act, Cap. 50 And nI n In ttheMatt SSTTOREIT!PTE. TD. (Compan egistration *****0845K) NNOOTICEPURSUANT SECTION 291(4) UTOR DECLARATION DIRECTORSOFCOMPANY’SINABILIT TTOO CONTINUEBUSINESS BBYY REASONOFITSLIABILITIES ODGED WITH THE REGISTRAR OF COMPANIES AND THE OFFICIAL RECEIVERON SEPTEMBER20 W Ric Morton .O. Bo 6023 RRaancho Santa 9206 sspor
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    • 249 14 IN THE MATTER OF THECOMPANIES AP50 (“theAct”) AND IN THE MATTER OF I-BAKE(SIN PORE)PTE. TD. (“theCompany”) (Co. eg. *****5068N) NNoottice esolutions orMembers’ VVooluntar Liquidation (Pursuant Section290) AAtt an Extraordinar Gener Meeting fo f of tthe Compan held Grunds asse 2211 *****122 SSttäfa, Switzerland on he fo f of September 20
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    • 759 14 I, Anthony Zarr, bachelor, 5 Jalan Novena Singapore *****4 intend to marry Rebecca Jane Brown, single at The Chedi Ubud Bali on 08/11/2010. Any person knowing of any lawful impediment to the marriage should without delay notify the Consular Section, British High Commission Singapore, 100 Tanglin Road, Singapore. I, Rebecca
      759 words

  • ECONOMY WATCH
    • 711 15 Household wealth down 2.8% to US$53.5t in Q2 as stock prices fall Bloomberg [WASHINGTON] Concern that US personal income taxes will increase next year caused an unexpected decline in consumer confidence in September, indicating the biggest part of the economy will
      Bloomberg; AP  -  711 words
    • 564 15 NYT Reuters [PARIS] Leaders from the Group of 20 economic powers should be able to sign off soon on agreements to bolster the weight of developing economies at the International Monetary Fund, a senior South Korean official said. The accords should be approved
      NYT; Reuters  -  564 words
  • Page 15 Advertisements
    • 64 15 Lets live the Indonesian dream. By building communities that blends nature with sound infrastructure. By empowering and fostering minds through world-class education. By providing unrivalled healthcare for our present and future generations. iy having the foresight and expertise to create tomorrow's lifestyle today. Leaders in: Property and Portfolio Management Urban
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  • GREATER CHINA/INDIA
    • 747 16 It will not allow exchange rate to surge in response to foreign pressure Reuters [BEIJING] China will not repeat Japan’s mistake of the 1980s and let its exchange rate surge in response to foreign pressure, Li Daokui, an adviser to the People’s
      Reuters  -  747 words
    • 330 16 Bloomberg [MUMBAI] KKR Co, TPG Capital, Carlyle Group and Bain Capital LLC are competing to acquire a part of Honda Motor Co’s stake in an Indian motorcycle venture, according to five people with direct knowledge of the situation. Two of the funds may
      Bloomberg  -  330 words
    • 553 16 AFP [TIANJIN, China] In a laboratory in northern China, technicians are breeding billions of micro-organisms in test tubes to create enzymes proteins that can turn plant waste into clean-burning biofuels. The facility near the port city of Tianjin belongs to Novozymes,
      AFP  -  553 words
    • 792 16 Weight reduction will shave 6-8% off fuel consumption Bloomberg [SHANGHAI] Baoshan Iron Steel Co, supplier of half of China’s auto steel, is working with Chinese carmakers to cut vehicle weight by as much as 10 per cent to compete with market
      Bloomberg; AP  -  792 words
    • 425 16 Bloomberg [Hong Kong] Alibaba Group Holding Ltd, China’s biggest electronic commerce company, said it’s “moved on” from talks to buy back shares held by Yahoo! Inc, after the two sides failed to reach agreement earlier this year. “We have no intention of
      Bloomberg; REUTERS  -  425 words

  • ASIA-PACIFIC/WORLD
    • 726 17  -  Tokyo’s actions may also tempt other Asian governments to follow suit By ANTHONY ROWLEY FOREIGN exchange markets will be in a state of high alert this week watching to see whether or not Japan’s yen-selling intervention last week will have a lasting impact
      726 words
    • 523 17 Reuters [NEW DELHI] Gunmen on motorbikes shot at a tourist bus near the main mosque in the Indian capital yesterday, wounding two Taiwanese visitors in an attack only weeks before the city hosts the Commonwealth Games. The Commonwealth Games is seen as
      Reuters; AFP  -  523 words
    • 648 17 w [WASHINGTON] Americans’ long journey to regain the wealth they lost in the recession is stalled. Households failed even to run in place during the April-June quarter as sinking stock prices eroded wealth. Stocks have since recovered about two-thirds of those losses. But based on
      w  -  648 words
    • 585 17 Bloomberg [NEW YORK] US officials said that BP plc killed its Macondo well in the Gulf of Mexico after creating another cement seal, plugging the source of the largest offshore oil spill in US history. “The Macondo 252 well is effectively dead,”
      Bloomberg  -  585 words
    • 536 17 Deals to Discover, Sallie Mae will result in loss of US$500m NYT [NEW YORK] Nearly two years after Citigroup received a second government bailout and was ordered by regulators to shrink, the bank agreed on Friday to sell its student
      NYT  -  536 words
    • 861 18 AFP [DHAKA] Global retailers fleeing China’s rising labour costs now find themselves facing growing pressure for higher wages in countries from Bangladesh to Cambodia, Vietnam, India and Indonesia. The latest sign that workers are becoming more militant in their demands for a larger
      AFP  -  861 words
    • 631 18 Plans for IPO enter politically-charged phase as GM woos foreign investors Reuters [DETROIT] General Motors Co is moving into a new and more politicallycharged phase of preparations for its landmark initial public offering. China’s top carmaker, SAIC Motor Corp, has reached out to
      Reuters  -  631 words
  • Page 17 Advertisements
    • 70 17 I, Mansoor Altaf Shukoor, divorce, of The Sail Marina Bay, 2 Marina Boulevard, 41-09, Singapore *****7, intend to marry Yuri Hayama, single of 1126 Shiba, Sakurai-city, Nara Prefecture, 633-0074 Japan at Oomiwa Shrine, 1422 Miwa, Sakurai-city, Nara Prefecture, 633-8538 Japan on 29th October 2010. Any person knowing of any lawful
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    • 15 17 a* Lianhe Zaobao Would anAsian common stand on exchange ra K intervention take shape? n?
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  • Page 18 Advertisements
    • 295 18 Bank Julius B The Business Times Leadership Conference 2010 REVIVAL or RELAPSE? Is the financial crisis really over? What are the options for investors? 8$ Thursday 14 October, 2010 9.30am 2pm Capella Singapore Grand Ballroom $150 per participant (inclusive of luncheon) Register at http://pbp.sph.com.sg/btconf2010/ by midnight, 5 October 2010. Payment
      295 words

  • WORLD
    • 689 19 Rival devices’ launch hits earnings, but the new BlackBerry Torch helps total shipment numbers Reuters [TORONTO] Robust results for Research In Motion (RIM) were mostly overlooked as analysts stuck to pessimistic views on the BlackBerry maker amid a tough fight for share in
      Reuters  -  689 words
    • 490 19 AFP [PARIS] With strong growth, a reduction in poverty and foreign investment, a number of recent studies have highlighted the African “economic miracle”, but economists suggest the picture is more complicated. Since the start of the decade, the world’s poorest continent has witnessed an economic
      AFP; REUTERS  -  490 words
    • 466 19 Oktoberfest extended by 2 days, special events held AFP [MUNICH, Germany] The Munich beer festival kicked off last Saturday with millions of visitors from around the world expected to raise a glass or two to celebrate the event’s 200th birthday over the
      AFP; XINHUA  -  466 words
    • 517 19 Rules to curb ‘stub quotes’ blamed for fuelling May crash Bloomberg [NEW YORK] NYSE Euronext, Nasdaq OMX Group Inc and Bats Global Markets are seeking permission from regulators to eliminate stub quotes, or bids and offers as low as pennies or as high
      Bloomberg  -  517 words
    • 527 19 Bloomberg [WASHINGTON] Elizabeth Warren, who US President Barack Obama named an adviser to set up the Consumer Financial Protection Bureau, immediately sought to repair her relations with the financial industry and said the new agency would likely first look into credit-card
      Bloomberg  -  527 words

  • US CONGRESSIONAL ELECTION
    • 1154 20 How will the rise of Tea Party-supported upstarts over party-backed Republican regulars play out in 2012 presidential election? NYT DES MOINES, Iowa THE Republican presidential field for 2012 is beginning to take shape in a period of intensive upheaval set off by the rise of
      NYT; REUTERS  -  1,154 words
  • Page 20 Advertisements
    • 52 20 To take up the offer, call us at 6388 3838 or log on to http://www.sphsubscription.com.sg Save more than subscribe to The a "Combined newsstand cover price of The Business Times (311 issues) and Forbes Asia (14 issues) is $456.60. Discounted price of $225 does not include delivery fees. Terms and
      52 words

  • SHIPPING/AVIATION
    • 514 21 Most shipbrokers expect index to rise in last three months of the year: poll Reuters [LONDON] The Baltic Exchange’s main sea freight index continued to fall on Friday although the outlook for the end of the year was bullish, according to a poll on
      Reuters  -  514 words
    • 616 21 Bloomberg [STOCKHOLM] SAS Group AB’s new chief executive officer Rickard Gustafson will need to return the airline to its trendsetting Nordic roots to make the region’s largest carrier profitable again after 21/2 years of losses. “While SAS has come down to a
      Bloomberg; AFP  -  616 words
    • 387 21 Govt watchdog still reviewing other complaints of US Aerospace Reuters [ATLANTA] US government auditors on Friday dismissed part of a protest by US Aerospace Inc that alleged misconduct by the Air Force in a projected US$50 billion tanker competition, but
      Reuters  -  387 words
    • 3025 21 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1230 SQ456 1250 EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7268 1745 VS7279 2350 Amsterdam SQ323 0605 LO4032 2345 US5410 0605 SQ324 2345 AZ3992 1525 US5411 2345 KL835 1525 Athens SQ348 0105 Atlanta DL281
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    • 363 21 Bloomberg [LONDON] Shipping companies led by Norway-born billionaire John Fredriksen renegotiated the terms of orders for oil tankers and coal and iron ore carriers due to be built by a Chinese shipyard. Frontline Ltd, the world’s largest supertanker operator, and Golden Ocean Group Ltd increased
      Bloomberg  -  363 words
  • Page 21 Miscellaneous
    • 288 21 CRYPTIC CROSSWORD Across 1 Sole supplier? (10) 6 Someone called, alternatively, blackleg initially (4) 9 Stays out too long? (10) 10 Contest expected by left (4) 12 Contracting obscure fever (4) 13 One new guy embracing secretary is impotent (9) 15 Scatter coppers and wallet, say (8) 16 Enthusiast taking
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  • DINING OUT
    • Article, Illustration
      816 22  -  NEW RESTAURANT Yakiniku Yazawa 11 Unity Street #01-01 Robertson Walk Tel: 6235-2941 Dinner only, last order 11.30 pm By Geoffrey Eu THERE are a couple of essential things to remember when dining at Yakiniku Yazawa, a Japanese-style grilled meat restaurant that has been doing brisket I mean brisk
      PHOTOS: JOHN HENG  -  816 words
  • Page 22 Advertisements
    • 231 22 www.om o W i 0"oowsr http://showbiz.onnY.sg WINE DINE AND HOSPITALITY A mW GRAND PRIX WORLD MIXES 1 to 30 September 2010 Marina Mandarin pays tribute to the Singapore Formula One night race with eight Grand Prix cocktails creations, such as TheTelefonica Grand Prix of Europe in Valencia. For a limited
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    • 50 22 Win a 4D/3N Getaway For 2 To o a SB" V llFPft^iPWaB my,% r\>, .'-it ifc -< ■Wit ,\i i a Jl ■II if" > 4'";-.^vV Log on to 52;travellers.c»m t the ultimate travel resource btj SPH Sponsored By: Content Powered By: reaker rednano.s g Low Fares Everywhere Singapore's directory
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  • SINGAPORE STOCKS
    • 9320 23 Week ended: Sep 17 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 13 3148 8Telecom 20 +1 5609 20.5 19 20 20.5 1.7 9.1 6.4 95.8 12 5 5834 A-Sonic
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    • 1878 24 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 9 4.5 1181 t AA Grp 4.5 4 5 25 4.3 225 130 6222 t APStrategic 161 -14 32 181 159 156
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    • 898 24 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 115 -1 47 118 113 114 118 525 979 755 CIMBAsean40 100US$ US979 +33 296 979 954
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    • 265 24 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 36.5 6000 AVJennings A49xd +2.5 71 49 46.5 48.5 50 3.6 7.1 3.9 127.6 53.5 16 6017 Genting HK US$ US52 +8 *****4
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    • 112 24 Stock name Close Change CapMallsAsia 2.160 -0.050 CapitaLand 3.970 -0.030 CapitaMall 1.950 -0.060 CityDev 11.580 -0.020 ComfortDelGro 1.540 -0.020 DBS Grp 13.940 -0.060 F&N 6.140 Genting SP 2.090 +0.060 Golden Agri 0.580 HK Land 5.890 -0.080 Stock name Close Change JMH 45.700 +1.540 JSH 26.480 +0.380
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    • 186 24 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 5 1 0 0 0 12 5 1 Manufacturing 129 50 60 16 8 17 145 58 77 Commerce 45 14 24 9 7 4 54 21 28 Tpt/Stor/Comms 31 6 7
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    • 123 24 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 113,119 113,119 281,526 281,526 Manufacturing 3,109,251 350,003 3,459,254 1,764,897 42,170 1,807,067 Commerce 657,480 332,010 989,490 769,320 53,051 822,371 Tpt/Stor/Comms 610,758 11,176 621,934 1,051,784 1,557 1,053,341 Finance 145,930 143 146,073 1,206,895 20 1,206,915 Construction 490,203 132,225
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    • 2699 24 Transaction date: Sep 17 For a full listing of the closing prices, log on to BT online at http://business-times.asia1.com.sg after 11.30pm every trading day HONG KONG Vol HK$ +/-'000 Aeon Stores 14.7 0.2 14 Angang Steel 12.9 0 ***** Anhui Conch 33.85 1.15 9653 Anhuiexpresswa 5.17 0.03 1009
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  • Page 24 Advertisements
    • 23 24 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use.
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  • FINANCE & COMMODITIES
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr Sep 17 Index Change Change Change Change Change Change World Index Preliminary 826.8 0.0 -0.7 -0.2 -5.9 -0.1 -1.1 EAFE Preliminary 764.5 0.0 -2.6 -0.2 -8.3 -0.2 -3.7 Europe Preliminary 1115.6 -0.5
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    • 132 25 Sep 17 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2420 1.2800 Can dollar 1.2950 1.3110 Euro 1.7390 1.7590 NZ dollar 0.9620 0.9830 Sterling pound 2.0780 2.1020 US dollar 1.3310 1.3460 Local dollars to 100 units of foreign
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    • 27 25 Sep 17 Open High Sett STI Sep 3076 SIMSCI Sep 363.1 363.8 362.0 Taiwan Sep 285.9 291.1 289.8 Source: MF Global (S) Pte. Ltd
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    • 180 25 Sep 17 $S Offer Bid 0vernight 3/8 1/4 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.20 US$ Offer Bid 7 days 0.33 0.23 1 month 0.48 0.28 2 months 0.50 0.30 3 months 0.55 0.35 6 months 0.68 0.48 9 months 0.85 0.65 12
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    • 24 25 Sep 17 S$ Bid Offer 1-month 1.3331 1.3335 2-months 1.3331 1.3335 3-months 1.3331 1.3334 6-months 1.3331 1.3335 Source: OCBC Source: OCBC
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    • 66 25 Sep 17 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 10 2685 2702 2707 2685 1772 6481 Nov 10 2621 2645 2654 2618 3993 ***** Dec 10 2600 2627 2636 2598 ***** ***** Jan 11 2600 2620
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    • 427 25 Sep 17 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec10 99.6050 0 7822 Mar11 99.5350 0 2916 Jun11 99.4450 0 2354 Sep11 99.3300 0 536 EUROYEN TIBOR FUTURES Dec10 99.6925 99.6925 99.6925 99.6925 0 2674 Mar11 99.7025 0 1516 Jun11 99.7175 0 3150 Sep11 99.7225 1
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    • 153 25 Sep 17 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Oct 10 349.0 345.0 349.0 55 280 Nov 10 347.0 345.0 347.0 46 375 Dec 10 345.0 345.0 347.0 12 550 Jan 11 347.0 485 Feb 11 347.0 612
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    • 86 25 Sep 17 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****T 16.12.2010 0.30 1-Year BY*****W 03.05.2011 0.35 0.35 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.08 5-Year N*****0N 1.375 01.10.2014 102.58 7-Year N*****0Z
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    • 105 25 Sep 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 10 1069.00 1036.25 1072.00 1036.75 Jan 11 1078.25 1046.00 1081.00 1045.75 Mar 11 1084.75 1054.00 1087.75 1054.00 May 11 1088.25 1057.25 1089.50 1058.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Oct 10 41.91 41.36 41.97
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    • 77 25 CRUDE OIL PRODUCTS Sep 16 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 79.13 0.15 WTI (Near Mth) 74.38 -1.29 Dubai (1-Mth F) 76.71 0.28 Tapis blend 84.85 0.20 Minas 78.75 0.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 73.38 -0.28 Jet Kerosene 88.67 1.23 US$/barrel Opec Oil
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    • 2455 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2.5 unch 3815 1 3 -8 2.40 3 6221 Asia-Pacific Strategic W*****6 33 1 150 14 4.88 44 6227 ASJ Hldgs W*****1 2.5 -1 28
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    • 5728 26 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN New Orleans/Camden *Loads E./W.
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    • 465 25 Sep 17 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.968 6.364 0.720 7.348 43.414 84.992 0.812 10.987 2.939 1.292 81.079 41.843 1.262 6.747 0.963 30.018 29.077 0.602 0.946 Canada 1.033 6.574
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    • 85 25 Sep 17 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 25 Sep 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2612 1.2622 0.9461 0.9466 Canadian dollar 1.3029 1.3038 0.9773 0.9778 Euro 1.7530 1.7537 1.3150 1.3152 NZ dollar 0.9760 0.9775 0.7321 0.7331 Sterling pound 2.0954 2.0961 1.5718 1.5720
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    • 138 25 Sep 17 GOLD (US$/oz) Sep 16 Sep 17 Hong Kong 1268.20 1279.50 Sep 17 Sep 16 London 1276.40 1274.25 1277.15 1274.70 Source: Thomson Reuters CAST BAR Sep 17 (S$) Selling Buying Kilobar 58,686.29 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 131 55 5gm 373 274 10gm 667
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    • 71 25 Sep 17 Sep 17 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2151.55 2136.50 3 months 2180.00 2165.50 Copper, Grade A (US$/tonne) Cash 7711.00 7689.25 3 months 7720.00 7700.00 Lead (US$/tonne) Cash 2174.25 2173.00 3 months 2202.50 2202.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 82 25 Sep 17 COCOA (£/tonne) Close Prev High/Low Dec 10 1884 unch 1920/1873 Mar 11 1900 1901 1936/1890 May 11 1915 1917 1949/1909 Jul 11 1924 1928 1957/1915 COFFEE (US$/tonne) Close Prev High/Low Sep 10 1660 1644 1662/1649 Nov 10 1669 1653 1673/1650 Jan 11 1695 1675 1697/1677 Mar 11
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  • Page 27 Advertisements
    • 29 27 r FREIGHT FORWARDER urgently needed by shippers 1 Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      29 words

  • BizIT
    • 1114 28  -  Industry leaders expect connectivity and mobile phones to drive long-term growth, reports VICTORIA HO VICTORIA HO AFTER a quiet 2009, Singapore’s rebounding electronics sector is outpacing other industries, and manufacturers are upping their research and development (R&D) dollars to follow the country’s move up the value
      BLOOMBERG  -  1,114 words
    • Special Feature brought to you by TechTrenders Asia
      • 1626 28 Companies will choose paths that make them most competitive successful in the market, says EMC's CIO Sanjay Mirchandani Sanjay Mirchandani is Senior Vice President and Chief Information Officer at EMC Corp. With 2009 revenues of around US$14 billion and more than
        1,626 words
    • 944 29  -  In the Asean region, the e-mail filtering market was worth US$34.9m last year By AMIT ROY CHOUDHURY THE Singapore e-mail filtering market declined by minus 2.3 per cent year-on-year (y-o-y) last year to US$10.3 million, as the ongoing global
      Source: Frost & Sullivan  -  944 words
    • 464 29 AFP [WASHINGTON] Seek and ye shall find. A number of new Internet search engines created by Christian, Jewish or Muslim entities aim to filter out queries from Web users in a way that is more relevant to those users
      AFP  -  464 words
    • <what’s up>
      • 48 29 FUJITSU Singapore has appointed Wong Heng Chew as its new president. He will be responsible for growing the business in the country, which serves as the regional headquarters for Fujitsu. Prior to his appointment, he was Oracle’s Asean regional senior director of services.
        48 words
      • 58 29 FOR users who care about the quality of laptop speakers, HP has released a new Envy Beats edition notebook PC, through a tie-up with US music producer Dr Dre. The device comes in aluminium with a red backlit keyboard, and will be
        58 words
      • 62 29 CANON has launched a new highdefinition camcorder, the Legria HF M32. The camera packs 64GB of internal memory and carries features such as face detection. It is also expandable with memory cards. Together with the camcorder, the imaging company launched a high-end range of lenses and
        62 words
      • 56 29 DIRK Peter van Leeuwen has been appointed vice-president of Red Hat Asia-Pacific, based in Singapore. Mr Van Leeuwen was responsible for establishing the open source company’s operations in Belgium, The Netherlands, and Luxembourg back in 2004. More recently, he was in charge of its
        56 words
      • 45 29 TATA Communications has opened a 66,000 sq ft data centre in Tai Seng, near Paya Lebar. It will serve customers in the Asia-Pacific region, and adds to the Indian IT services company’s 40 other data centres worldwide.
        45 words
      • 52 29 British Telecommunications (BT) has appointed Stephen Yeo its CEO for South-east Asia. Based in Singapore, he will oversee BT’s operations in Singapore, Malaysia, Vietnam, Thailand, the Philippines, and Indonesia. He was previously CEO of Singapore Computer Systems (SCS) and the National Computer
        52 words
      • 55 29  -  Compiled by VICTORIA HO SONY Ericsson has launched a new phone under its Walkman series called Spiro. The GPRS phone is equipped with a 3.5mm jack for headphones and comes with social media apps ready for networks such as Twitter and Facebook. It retails
        55 words
    • 404 29  -  By VICTORIA HO IF software piracy could be reduced by 10 per cent in four years, Singapore could see a boost of 2,000 new jobs and US$520 million in economic activity, according to the Business Software Alliance (BSA). The trade association said in
      404 words
    • BizIT FOCUS: INNOVATION
      • 2850 30 The CIO needs to work with the board to usher in a culture of innovation while keeping things working at the same time IN THIS era of Web2.0, innovation is now intricately linked with continued growth. Most companies realise that innovation is not something that resides in a
        2,850 words
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  • Page 29 Advertisements
    • 296 29 A MITSUBISHI ELECTRIC SECURITY SOLUTIONS for a greener tomorrow JL. RELIABLE SURVEILLANCE Mitsubishi Electric, a world leader in top quality security equipment, now brings you a new range of high-tech IP solutions to complement current usage. Our IP cameras feature full frame rates as well as the latest video analytics,
      296 words