The Business Times, 20 October 2010

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Total Pages: 34
1 34 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, October 20,2010
    22 words
  • 664 1  -  By VEN SREENIVASAN [SINGAPORE] Cheeky. Witty. Wicked. However you might describe it, AirAsia’s latest print advertisement has attracted lots of attention. And it doesn’t take much to guess the target. “If Tigers were meant to fly, they would be born with Wings,”
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  • 807 1 Investors flatfooted by move that could signal a faster rise in the Chinese currency Reuters Bloomberg AP [BEIJING] China’s central bank sent shockwaves through global markets yesterday with a surprise increase in interest rates for the first time in nearly three years. The impact
    Reuters; Bloomberg; AP  -  807 words
  • 141 1 ST INDEX 3,192.29 (+11.02) ST INDEX FUTURES 3,192 (+11) SIMSCI 377.21 (+1.08) SIMSCI FUTURES 377.40 (+1.20) FOREX US$ S$ US$ (S$ per US$) 1.303 (US$/S$ per 1.584 2.063 EURO (US$/S$/E) 1.391 1.813 Foreign currency per US$ S$ YEN 81.40 62.50 RM 3.109 2.386 HK$ 7.759 5.956 BAHT 29.89
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  • Page 1 Advertisements
    • 191 1 PLASTIC-GLASS HYBRID Creating the next generation of plastic PAGE 23 OPINION MDA’s cross-carriage rule: innovative value-creating PAGE 23 PROPERTY Ogilvy Centre tender to be launched in a fortnight PAGE 4 EXEC MONEY Look beyond emerging markets PAGE 34 L.U.CEngineOneTourbillon.High-endmechanical watchmaking and the best of motor sports meet andmingleinahandsomeandpowerfultimepiece. This limited-edition
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    • 9 1 EDITORIAL More currency flexibility good for Asia PAGE 22
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  • TOP STORIES
    • 560 2 Markets reverberate from China rate weapon CHINA’S central bank sent shockwaves through markets yesterday with a surprise increase in interest rates for the first time in nearly three years. The impact was felt by global markets across the board. Oil prices fell, stock markets turned negative in New
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    • 644 2  -  SGX proposes fullday trading to boost international interest, liquidity and value By JAMIE LEE [SINGAPORE] Remisiers may soon have to kiss their long lunch break goodbye. The Singapore Exchange (SGX) yesterday proposed full-day trading or to remove the lunch break from 12:30 to
      644 words
    • 412 2 Reuters [NEW DELHI] Coal India’s initial public offering was oversubscribed yesterday, the second day of a four-day offering, driven by strong investor demand and lower-than-expected pricing for the country’s largest-ever IPO. The offering, expected to raise as much as US$3.5 billion, had received bids for
      Reuters  -  412 words
    • 623 4  -  By KALPANA RASHIWALA [SINGAPORE] The Ogilvy Centre an iconic conservation building opposite Lau Pa Sat will be launched for tender as a hotel site in about a fortnight, following a successful application to the state by a developer. The unnamed developer
      DESMOND WEE/THE STRAITS TIMES  -  623 words
    • 480 4  -  Trust expected to raise as much as $1.19b in gross proceeds from IPO By JAMIE LEE [SINGAPORE] Mapletree Industrial Trust’s (MIT) initial public offering (IPO) saw a strong take-up rate with an oversubscription of about 37.9 times, led by demand from institutional players. The take-up
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    • 508 4  -  Internationalisation of RMB gets a lift with 1.2b yuan sale By ANTHONY ROWLEY in Tokyo THE growing internationalisation of China’s currency took a further step forward yesterday when the Asian Development Bank (ADB) launched the first international bond denominated in renminbi
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    • 579 4  -  By EMILYN YAP [SINGAPORE] Pheim Asset Management Sdn Bhd (Pheim Malaysia) and its CEO Tan Chong Koay are appealing against a High Court judgment last month which found them involved in market rigging. In what some quarters perceived as a landmark
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    • 856 2 Official Travel Insurer: Preferred Card: ©2010 Citibank. Citibank is a registered service mark of Citigroup Inc.Co.Reg.No.*****9485K. Value Guarantee We will MATCH THE DIFFERENCE if you find a lower priced tour elsewhere when you book your holiday with us (Of the same quality, inclusions departure date)* THIS SUNDAYONLY CELEBRATE 45! HOLIDAY
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  • Page 3 Advertisements
    • 57 3 Fact: Wealth Management Asset Management Investment Funds Custody Investor Services families grow. Assertion: their investments 1 1 1 I! m 'a V F f f h i h 1 V k k A > am Pictet Cie, Geneva-Private Bankers since 1805 Hong Kong: +852 3191 1805 Singapore: +65 6536 1805
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  • Page 4 Advertisements
    • 558 4 T&T eppel Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2010 The Directors of Keppel Telecommunications Transportation Ltd advise the following unaudited results of the Group for the third quarter and
      558 words

  • COMPANY NEWS
    • 394 5  -  CEO credits strong demand and improved rate environment By NISHA RAMCHANDANI SHIPPING group Neptune Orient Lines (NOL) chalked up a net profit of US$282.26 million for its third quarter ended Sept 17, 2010 reversing a US$138.88 million net loss a year earlier, as traffic
      BLOOMBERG  -  394 words
    • 104 5 Reuters OFFSHORE service firm STX Offshore and Specialised Vessels, which is part of South Korea’s STX group, will raise up to $665.5 million from its upcoming initial public offering (IPO) in Singapore, IFR reported yesterday. The firm has set an indicative
      Reuters  -  104 words
    • 539 7  -  Trading volume for the tanker counter was 2nd only to hot GLP at one point HOT STOCK By JOYCE HOOI AS the PT Berlian Laju Tanker counter soared 20 per cent to six cents amid excitable trading yesterday, it appears that the turbulence
      BLOOMBERG FILE PHOTO  -  539 words
    • 728 7  -  HOCK LOCK SIEW By R SIVANITHY AFTER testing the waters a little while ago with strong hints about extending the local market’s trading hours, the Singapore Exchange (SGX) yesterday made the suggestion a bit more official by issuing a consultation paper. Under the
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    • 332 7  -  By KAREN NG CHINA-BASED heat-trans-fer specialist Sunpower Group has clinched two contracts worth 54 million yuan (S$10.7 million). Its unit, Jiangsu Sunpower Technology, will supply heat exchangers and dehydration towers to Jiaxing Petroleum, which produces purified terephthalic acid (PTA) at a capacity of 800,000
      332 words
    • 577 9  -  Improvement in personal finances seen continuing in the next quarter By GRACE LEONG INVESTOR confidence in Singapore continued to rebound for a sixth straight quarter in the three months ended September, despite concern about the US economy, worries over the European debt crisis and
      577 words
    • 395 9  -  Group says its expansion plans in China are on track By JOYCE HOOI OSIM International yesterday reported an 86 per cent surge in third-quarter profit, from $7 million to $13 million. Its bottom line was cushioned by fatter margins, even as
      395 words
    • 284 9  -  By WINSTON CHAI STRONGER contributions from its data centre business and key associates lifted Keppel Telecommunications Transportation (KTT) to its third straight quarter of bottom-line improvement, with its Q3 net profit climbing 20.5 per cent to $15.7 million from $13 million a year
      284 words
    • 199 9  -  By KAREN NG CHINA-BASED aluminium producer XinRen Aluminum Holdings expects to raise $96.1 million from its initial public offer, which opens today. A total of 198 million shares were offered, consisting of an international placement of 186 million shares and a retail
      199 words
  • Page 5 Advertisements
    • 409 5 The art of combining tradition with innovation. LGT combines traditional private banking with state of the art investment advice and solutions: Stable. Reliable. Effective. LGT Your Private Bank in Asia for 25 years. Singapore Phone +65 6415 3800, info@lgt.com Hong Kong Phone +852 2523 6180, info@lgt.com 25 www.lgt.com inAsL Singapore,
      409 words

  • SINGAPORE MARKETS
    • 558 6  -  Mixed session sees index rise 11 points while market scoreboard shows 197 losses to 209 rises STOCKS R SIVANITHY Senior Correspondent THEfortunesoftheStraits Times Index (STI) rarely diverge from those of the broad market. But yesterday was one such occasion, with the latter chalking
      Source: Bloomberg  -  558 words
    • 4 6 DAILY
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    • 66 6 Oct 19 VALUE CLOSE BT OB/OS -125.00 -84.00 BT CADI -*****.00 +10.00 BT 10-day MA -*****.00 -13.00 FTSE ST Mid Cap 791.00 +0.90 FTSE ST Small Cap 583.43 +2.67 FTSE ST All Share 789.18 +2.50 FTSE ST China Top 294.44 +1.79 FTSE ST China 331.95 +2.48 FTSE
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    • 59 6 VOLUME GLP 262,399,000 Genting SP 133,962,000 ChinaNTown 112,340,000 BerlianLaju 110,726,000 Golden Agri 69,977,000 Ban Joo 53,561,000 GMG Global 35,100,000 *Genting HK US$ 34,945,000 Cosco Corp 27,969,000 SunVic 27,860,000 VALUE($) GLP 587,045,515 Genting SP 285,896,310 DBS Grp 118,728,180 Keppel Corp 65,959,460 Cosco Corp 54,658,430 Yangzijiang 52,649,720 CapitaLand 49,163,640
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 5 0 0 0 6 6 5 Manufacturing 63 52 84 5 4 19 68 56 103 Commerce 16 27 26 4 7 4 20 34 30 Tpt/Stor/Comms 16 9 18
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    • BROKERS’ TAKE
      • 1063 6  -  Phillip Securities Research, Oct 19 Compiled by CONRAD TAN SINGAPORE Exchange’s (SGX) results disappointed, with operating revenue declining 8.3 per cent y-o-y and 2 per cent q-o-q to $159 million in Q1 FY2011 the three months to Sept 30. A slight surprise was a
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    • 119 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 28,261 28,261 88,590 88,590 Manufacturing 310,352 24,036 334,388 252,657 3,005 255,662 Commerce 121,200 23,526 144,726 87,907 3,947 91,854 Tpt/Stor/Comms 212,710 325 213,035 198,543 34 198,576 Finance 26,027 20 26,047 244,276 3 244,278 Construction 53,129 8,243
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    • 108 6 Stock name Close Change Stock name Close Change CapMallsAsia 2.150 -0.010 CapitaLand 4.060 CapitaMall 2.030 -0.020 CityDev 13.320 +0.240 ComfortDelGro 1.500 DBS Grp 14.720 +0.040 F&N 6.320 -0.020 Genting SP 2.150 +0.050 Golden Agri 0.685 +0.015 HK Land 6.760 +0.120 JMH 45.020 +0.360 JSH 26.500 +0.500
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    • 469 6 CURRENCIES Reuters [NEW YORK] A surprise interest rate increase from China yesterday rattled currency investors, who cut exposure to risk by selling the euro and commodity-sensitive Australian dollar and taking refuge in the US dollar. Investors feared a quarter percentage point rise
      Reuters; AFP  -  469 words
    • 111 6 BY CENTS CLOSE UP DBXT MSAsExJp 10US$ 3243 141.9 3.5 GLD 10US$ ***** 121.1 0.7 DBXT Nifty 10US$ ***** 104.2 0.6 DBXT STGLDv100 10US$ 2748 80.7 2.3 JSH 2650 65.1 1.9 DBXT MSEurope 10US$ 4514 58.6 1.0 JMH 4502 46.9 0.8 STXPO 100 1476 42.0 2.9 Lyxor China H
      111 words
    • 127 6 BY CENTS CLOSE DOWN DBXT MSKorea 10US$ 5175-289.1 -4.1 DBXT S&P Short 10US$ 4871-102.9 -1.6 DBXT SPASX200 10US$ 3281 -65.1 -1.5 DBXT MSTaiwan 10US$ 1695 -54.7 -2.4 Lyxor EmergingMkts 1 1110 -30.0 -2.0 DBXT FTVietnam 10US$ 3714 -28.7 -0.6 Lyxor Korea 10US$ 462 -23.4 -3.8 DBXT FTChina25 10US$ 3343
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    • 5 6 DAILY
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  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 904 8 INITIAL PUBLIC OFFERING >1 XINREN ALUMINUM Aluminum Holdings Limited (Company Registration Number: *****2545H) (Incorporated in Singapore on August 29, 2006) 198,000,000 OFFERING SHARES (SUBJECT TO THE OVER-ALLOTMENT OPTION) OFFERING PRICE: S$0.55 PER OFFERING SHARE SUBSCRIBE NOW! Public Offer closes on October 25, 2010 at 12.00 noon QpH A A A
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  • Page 9 Advertisements
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  • SINGAPORE NEWS
    • 457 10  -  All who provide financial advisory or capital market services to be listed By SIOW LI SEN FROM next month, bank customers will be able to find out professional details about their respective relationship managers or sales representatives on a Monetary Authority of Singapore
      457 words
    • 501 10  -  By CHUANG PECK MING JUNIOR professionals and executives who feel shortchanged by their bosses on pay and perks may not have to wait long for a cheap and speedy settlement mechanism to be put in place. The proposed tripartite
      501 words
    • 430 10 Reuters CHEMOIL is the latest oil trading firm to expand its storage capacity in the Middle East and has taken a US$90 million loan from banks in Abu Dhabi, Dubai, and Singapore to fund the project, it said yesterday. Singapore-listed Chemoil, in a joint-venture with
      Reuters  -  430 words
    • 498 11  -  IR, polytechnics sign MOU; resort hopes to host over 1,000 interns by 2012 By GRACE LEONG TWO years ago, Shi Neng Zheng was so excited after his first visit to Everland Resort in Seoul that he started to dream of
      498 words
    • 309 11  -  By NISHA RAMCHANDANI MALAYSIA, Indonesia, and China were the three top destinations for travellers out of Singapore in the first six months of this year, according to figures released by the National Association of Travel Agents Singapore (Natas). Malaysia remained the
      309 words
    • 85 11 Singapore Experience Awards on Oct 28 EIGHTY-THREE finalists have been short-listed for 27 award categories at this year’s Singapore Experience Awards, which is organised by the Singapore Tourism Board (STB). The finalists include past Singapore Experience Awards winners, new entrants, as well as established players from the tourism
      85 words
    • 524 11  -  By FELDA CHAY in Shanghai FRASERS Hospitality is expanding aggressively into the short-stay service residence market through its recently launched Modena brand, with 11 properties to be added in the next few years six of which are scheduled to open by 2012.
      524 words
    • 488 11 The bank is also seeking to win over more investors Bloomberg CITIGROUP Inc, the bank 12 per cent-owned by US taxpayers, is adding the largest number of new commodity jobs in Asia and Europe amid a “leaner” year for raw materials, said Stuart
      Bloomberg  -  488 words
  • Page 10 Advertisements
    • 252 10 'X r A WA V <§ n r, )e a \Drow ire «<i m. n n er FLA award 2010 by Franchising Licensing Association (Singapore) Congratulations to all finalists! FLA (Singapore) would like to acknowledge and applaud the eminent finalists for the successful establishment of their franchising businesses in Singapore
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  • Page 11 Advertisements
    • 21 11 Hot IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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  • NAVIGATE THE NEW
    • 1594 12  -  Firms with international operations or those looking to invest overseas should be aware of the implications, reports MICHELLE QUAH MICHELLE QUAH THE global financial crisis has left an indelible mark on the tax policies of countries around the world. The trillions that governments have spent
      REUTERS  -  1,594 words
  • Page 12 Advertisements
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  • ECONOMY WATCH
    • 459 13 Government describes the economic situation as at a standstill Reuters [TOKYO] Japan’s government cut its view on the economy for the first time since February 2009, saying it was at a standstill, as the rising yen and slowing exports
      Reuters  -  459 words
    • 522 13 Bloomberg [LUXEMBOURG] European governments have left decisions to sanction euro-area budget violators in political hands, stopping short of the more automatic crackdown on runaway deficits demanded by the European Central Bank (ECB). Germany, which had pushed for “quasi-automat-ic” sanctions and threatened to
      Bloomberg; AP  -  522 words
    • 603 13 The central bank’s surprise move burnt many rate investors Reuters [SYDNEY] Australia’s central bank said its decision to not raise rates this month was “finely balanced” and that it could not wait “indefinitely” to tighten given long-term risks to inflation, lifting the odds
      Reuters  -  603 words
    • 372 13 It forecasts strong use of palladium until 2015 and picks gold as a good bet Reuters [LONDON] Swiss Bank UBS said yesterday that a fresh round of US monetary easing could be a “game changer” for commodities and identified palladium, iron ore, thermal
      Reuters  -  372 words
  • Page 13 Advertisements
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  • MALAYSIA/INDONESIA
    • 461 14  -  Mier points to slowing exports, weaker sentiment in business conditions survey By S JAYASANKARAN A MALAYSIAN think tank has flagged downside risks to the economy despite Kuala Lumpur’s optimistic projections as outlined in Prime Minister Najib Razak’s Budget speech. The Malaysian Institute
      BLOOMBERG  -  461 words
    • 261 14 Bloomberg [KUALA LUMPUR] Bursa Malaysia, the country’s stock exchange operator, said third-quarter profit fell 9.9 per cent from a year earlier as higher expenses overshadowed gains in trading volume and revenue. Net income in the three months ended Sept 30 dropped to
      Bloomberg  -  261 words
    • 409 14 Reuters [JAKARTA] Indonesia plans to revamp its land law, which investors hope will speed up the acquisition of land to help build infrastructure ranging from roads to airports. Inadequate infrastructure is seen as a deterrent to attracting foreign direct investment
      Reuters  -  409 words
    • 222 14 AFP [KUALA LUMPUR] A massive new palace being built for Malaysia’s king is expected to be completed next June, at a total cost of RM797 million (S$334 million), Parliament has been told. The Istana Negara, or national palace, is taking shape on a
      AFP  -  222 words
  • Page 14 Advertisements
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  • GREATER CHINA
    • 396 15 It was responding to a report that said 30% export cuts were likely next year Bloomberg [BEIJING] China has no plans to cut its export quota for rare earths next year, a senior official at the department responsible for the minerals said at
      Bloomberg; REUTERS  -  396 words
    • 385 15 Bloomberg [SINGAPORE] Hong Kong’s government is in talks with the European Union to help hedge fund managers in the city cope with proposed regulations that may make it harder to raise assets in Europe. Hong Kong is lobbying the EU
      Bloomberg  -  385 words
    • 377 15 US moves to print more cash would counter yuan gains Bloomberg [BEIJING] Moves by the US Federal Reserve to print cash would spur capital flows into China, hampering the Asian nation’s efforts to damp inflation and counter yuan gains, said Yu Yongding, a
      Bloomberg  -  377 words
  • Page 15 Advertisements
    • 261 15 Organised by: Supported by: Franchise Opportunities in Malaysia Come join us at the Malaysia Franchise Talk [In conjunction with Franchising Licensing Asia (FLAsia) 2010] Topics Franchise Industry Overview and Development Facilitation By Ministry Of Domestic Trade, Co-operatives and Consumerism Malaysia 21 October 2010 (Thursday) 4.30 pm PNS Role in Financial
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  • CHINA/INDIA
    • 435 16 Government panel proposes scrapping environment clearances granted Bloomberg [NEW DELHI] Posco’s proposed US$12 billion steel plant in India is in doubt after a government panel recommended scrapping environment clearances given to the world’s third-largest steelmaker. Three of the four members of the panel suggested
      Bloomberg; AFP FILE PHOTO  -  435 words
    • 396 16 Reuters [MUMBAI] India is headed for a second straight year of record natural rubber imports as domestic output fails to keep pace with car-driven demand, underpinning prices already at record highs. India could import as much as 175,000 tonnes in the year
      Reuters  -  396 words
    • 472 16 AFP [SYDNEY] The world’s top polluter, China, is a surprise leader in clean energy efforts, a study showed yesterday, outstripping the US and Japan and leaving Australia lagging far behind. The Vivid Economics report, commissioned by Australia’s Climate Institute think tank, showed China
      AFP  -  472 words
  • Page 16 Advertisements
    • 691 16 WE HAVE LANDED YET ANOTHER AWARD. X POWERPLUS GROUP is pleased to announce that POWERPLUS and POWERPAC have achieved the Business Superbrands 2010. As one of the top brands in over 100 countries across 5 continents, POWERPLUS and POWERPAC are delighted to share its joy on attaining this prestigious status
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  • Page 17 Advertisements
    • 331 17 EZRA EMAS t nr rf':*c U-r. A J?4 ife 1 IN RARE COMPANY LEWEK CRUSADER GLOBAL DYNAMIC SOLUTIONS Forging strategic growth through industry-leading assets and services, EMAS, under the EZRA group, is a leading integrated offshore solutions provider. Headquartered in Singapore, EMAS operates a modern fleet of offshore support and
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  • WORLD
    • 671 18  -  Huge capital inflows boost regions’ stock, property markets, fuel new bubble By ANTHONY ROWLEY THE World Bank yesterday warned of the dangers of a repeat of the 1997 Asian financial crisis if countries fail to respond to challenges posed by massive capital
      671 words
    • 412 18 AP [WASHINGTON] Home construction rose slightly last month on the strength of single-family homes, but the market was still too weak to propel growth in the battered industry. Construction of new homes and apartments rose 0.3 per cent in September from a month
      AP; AFP  -  412 words
    • 663 18 [PARIS] Protests against a proposed hike in retirement age by the French government took an increasingly radical turn with masked youths setting fires in cities across France yesterday. President Nicolas Sarkozy pledged to crack down on “troublemakers” as clashes between youth and police broadened,
      REUTERS  -  663 words
    • 450 18 Bloomberg [NEW YORK] Goldman Sachs Group Inc, the biggest securities firm by revenue, said profit dropped 40 per cent, beating analysts’ estimates, as lower costs and higher invest-ment-banking revenue cushioned a decline in trading. Third-quarter net income fell to US$1.9 billion, or US$2.98 per
      Bloomberg  -  450 words
    • 522 19 Foreign ministers to meet next week to defuse tensions over disputed islands AP [TOKYO] Japan said yesterday that recent rowdy an-ti-Japanese protests in China would not derail plans for the countries’ foreign ministers to meet next week, as the neighbours try to
      AP; REUTERS  -  522 words
    • 532 19 The rules have faced fierce opposition from banks Reuters [LONDON] Global banking supervisors agreed yesterday to phase in the introduction of a key new global standard on lenders’ minimum short-term funding cover, handing further relief to a sector facing a hefty funding
      Reuters  -  532 words
    • 643 20 Countries with weak fiscal discipline and strong links to dollar are most vulnerable Bloomberg [HONG KONG] Quantitative easing in developed countries is a “key theme” for credit risk in emerging markets, Andrew Colquhoun, head of Asia-Pacific sovereign debt at Fitch Ratings, said
      Bloomberg; REUTERS  -  643 words
    • 541 20 Bloomberg [LONDON] Italy’s debt costs more to insure against default than that of the Philippines or Indonesia, as Europe’s financial woes overshadow a credit rating six levels higher than either of the emerging-market nations. Credit-default swaps on Italy, the only borrower among Europe’s
      Bloomberg  -  541 words
    • 473 20 Reuters [SYDNEY] Australia is well positioned to dominate the world’s uranium industry, with half of all known deposits, but it could take a decade or more to hit its stride because of domestic political hurdles. The ruling national and state Labor
      Reuters  -  473 words
    • 590 21 But harshness of measures worries economists, main opposition party AFP [LONDON] Britain will unveil billions of pounds in public spending cuts today in a sweeping review of government expenditure, risking protests and a million jobs as it seeks to pay off a huge
      AFP; REUTERS  -  590 words
    • 485 21 Reuters [SAO PAULO] Brazil raised taxes for foreigners buying local bonds and trading in foreign exchange derivatives, its latest attempt to curb a currency rally amid global concerns about a weak US dollar. In announcing the new measures, Finance Minister Guido Mantega
      Reuters  -  485 words
    • 301 21 Bloomberg [MANILA] Typhoon Megi, which left at least 10 people dead as it crossed the Philippines on Monday, strengthened as it churned over the South China Sea on a path to Hong Kong, the US Navy Joint Typhoon Warning Center said. The
      Bloomberg  -  301 words
  • Page 18 Advertisements
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      453 words

  • EDITORIAL & OPINION
    • 497 22 EDITORIAL THE financial media is replete with stories of a “currency war”, which is touted as the latest side-effect of the global financial crisis of 2008/09. While such a war is indeed a clear and present danger, it need not end badly and could
      497 words
    • 1153 22  -  Will the G-20 meeting be able to yield decisions to tackle the major economic issues? By SHAHID JAVED BURKI The writer is a senior visiting fellow at the Institute of South Asian Studies. He is a former vice-president of the World Bank and served
      REUTERS  -  1,153 words
    • 799 22  -  THE BOTTOM LINE G PANICKER The writer was formerly with BT’s foreign desk THE Commonwealth Games 2010 had a spectacular start and a glittering finish. The 101 medals were the most that India has ever won in an international sports event.
      799 words
    • 754 23  - MDA’s cross-carriage rule: innovative value-creating By RUGGERO JENNA, DOMINIC P ARENA SINGAPORE’S pay TV industry is experiencing a transformation. Fierce competition and bidding for British Premier League broadcast rights, followed by the Media Development Authority’s proposed exclusive content cross-carriage regulation, has captured attention worldwide. Well-voiced concerns regarding its formulation, feasibility
      754 words
    • 1247 23  -  At Germany’s specialty chemicals giant Lanxess, plastic-metal hybrid is giving way to next-gen plastic-glass fibre hybrid JOYCE HOOI Reporter THERE is an eerily prescient scene in the film The Graduate where a young Dustin Hoffman is taken aside by an older gentleman who tells
      REUTERS  -  1,247 words

  • Page 23 Advertisements
    • 26 23 The writers are managing director for South-east Asia and partner head ofTMT Consulting respectively at Value Partners, a management consulting firm in the telecoms media sectors
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  • Transport HUB
    • 1147 24  -  Governments are being persuaded to commit the resources necessary to end the increasing problem of Somalia-based STRAIT TALK By DAVID HUGHES LAST month the International Maritime Organization (IMO) and governments and shipping organisations around the world marked the UN-designated World Maritime Day, Sept
      1,147 words
    • 433 24 Reuters [SINGAPORE] Rates for crude tankers on key Asian freight routes are likely to hover near 11-month lows this week as ample tonnage outweighs strong Chinese demand, shipbrokers said yesterday. For refined products, rates are expected to tumble to fresh
      Reuters  -  433 words
    • 175 24 Reuters [SINGAPORE] Ship container volumes at the world’s top nine ports fell by 6 per cent in September from the previous month, an indication of weakening demand in global trade, said market intelligence provider Alphaliner. Shanghai, Singapore, Hong Kong and six other
      Reuters  -  175 words
    • 379 24 It plans to acquire bunker barges and rent storage facilities Bloomberg [TOKYO] PetroChina and China Ocean Shipping (Group) plan to apply for a licence to sell marine fuels in Singapore under a joint venture set up by them. China Marine Bunker
      Bloomberg  -  379 words
    • 278 24 SGX '000 Oct 19 S$ +/-Vol CH Offshore 0.54 unch 918 Chuan Hup Hldg 0.25 -0.01 207 Cosco Corp 1.96 0.04 ***** CWT Ltd 0.96 -0.01 1413 Ezra Hldgs 1.83 0.02 6775 First Ship Lea 0.48 0.01 782 Freight Links 0.08 unch 7362 Grand Banks 0.41 -0.05 1
      278 words
    • TRANSPORT HUB: AVIATION
      • 359 25  -  Prospect of modest economic growth in 2011 dampens industry’s mood By VEN SREENIVASAN AIRLINE executives remain confident about the outlook for their industry but there are some concerns about a potential slowdown next year, according to the latest survey by the International Air Transport
        359 words
      • 374 25 Reuters [SAO PAULO] Embraer, the world’s largest maker of regional aircraft, agreed on Monday to sell as many as 125 business jets to NetJets Inc in a deal that could earn it more than US$1 billion. The sale, consisting of a firm order
        Reuters; FILE PHOTO  -  374 words
      • 379 25 The cost to airlines stood at US$8.3b, data for 2007 shows AP [WASHINGTON] Airline flight delays cost passengers more than inconvenience US$16.7 billion more according to a study delivered to the US Federal Aviation Administration (FAA) on Monday. The FAA-funded study looks at the
        AP; AFP  -  379 words
      • 339 25 Bloomberg [LONDON] EasyJet Plc CEO Carolyn McCall, at the helm since July, must rein in expansion and accept that growth in the discount-air-line industry has peaked, the carrier’s founder and biggest shareholder says. Ms McCall, 48, should freeze EasyJet’s aircraft fleet at about
        Bloomberg  -  339 words
      • 127 25 Reuters [ATLANTA] General Dynamics Corp said on Monday that it will phase out two of its aviation brands to enhance its global marketing identity. The company, which makes ships and tanks for military use as well as business jets, told a media briefing on the
        Reuters  -  127 words
      • 3007 25 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi KU6457 1230 SQ456 1250 SQ457 1230 EY470 2220 Adelaide LH9771 1745 9W4082 2230 SQ278 1745 AF8088 2230 VS7268 1745 BA7382 2230 --JL5083 2230 MU8214 2230 QF82 2230 LH9770 2350 SQ279 2350 VS7279 2350 Ahmedabad NH6293 0710 SQ531 0710 Amsterdam
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    • TRANSPORT HUB: LAND
      • 511 26  -  Jan-Sept figures down 57.6%; top model now from Mercedes-Benz By SAMUEL EE THE number of parallel imports (PIs) continues to contract sharply in the face of a diminished COE quota. From January to September this year, only 3,489 parallel imported cars were registered (see table),
        511 words
      • 548 26  -  By SAMUEL EE TOMTOM may be entering the Singapore market late compared with the competition, but its personal navigation device (PND) will hit the ground running because of data gathered from a sizeable population of its mobile devices already here. One
        548 words
      • 498 26  -  By SAMUEL EE THE Toyota Corolla Altis remains Singapore’s No 1 car among authorised distributors after the first nine months of 2010, and while the German luxury brands are snapping at its heels, the republic’s top model
        498 words
      • 556 26 Reuters [TOKYO] Mazda Motor Corp may gain a freer hand to make decisions if Ford Motor Co cuts its ownership share, though the Japanese automaker may want to seek another partner eventually. Ford, once the controlling shareholder in Mazda, plans to
        Reuters  -  556 words
      • 276 26 Reuters [SEOUL] South Korea’s Hyundai Motor Co plans to invest US$9 billion in Hyundai Engineering Construction as it wages a contentious battle with rival members of the Hyundai clan to win control of the country’s top builder. Hyundai Motor said yesterday
        Reuters  -  276 words
  • Page 24 Advertisements
    • 114 24 NOTICE TO TRADE INDIA SUB CONTINENT COLOMBO SECTORS RATE RESTORATION NOTICE In view of our operating costs continuing to increase on the mentioned sectors, we are facing difficulties in maintaining the current level of service. Hence in order to continue with our feeder structure, we wish to bring our rates
      114 words
    • 2 24 I www.radio9l3.com
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  • Page 25 Miscellaneous
    • 321 25 CRYPTIC CROSSWORD Across 1 Support a struggling settler (7) 5 One who swears on his horse? (7) 9 Wrongly mistreated union valuation that falls short (15) 10 Bird submerged in bath awkwardly (4) 11 Half-hearted step I’d taken (5) 12 Empty barrel of first-class content it goes on the wicket
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  • Page 26 Advertisements
    • 642 26 Lianhe Zaobao Guangdong development areas adopt S'pore's "private sector-led, govtsupported" approach "ifejikafefT, To subscribe, call 6388-3838 or go to sphsubscription.com.sg w WATS NOTICES SWING MEDIA TECHNOLOGY GROUP LIMITED Incorporated in Bermuda (Company Registration No. *****) CLARIFICATION TO THE ADJUSTMENT TO THE NUMBER OF THE WARRANTS OF THE COMPANY Where capitalised
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  • SINGAPORE STOCKS
    • 9075 27 Transaction date: Oct 19 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 3148 8Telecom 18.5 unch 470 18.5 18.5 18 19 1.7 9.8 5.9 88.6 12 5 5834
      9,075 words
    • 1890 28 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 7 4 1181 t AA Grp 4.5 4 5 25 4.3 225 130 6222 t APStrategic 162 154 161 96.1 4 0.5
      1,890 words
    • 9391 28 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.29/ APS Alpha Fund (USD)!** 0.99/ APS Alpha Fund Cl B SGD!** 1.2/ APS Alpha Fund Cl B USD!** 0.89/ AXA Life Secure Ascent 2020 Fund 0.9684/0.9684 AXA Wealth Mgt S'pore Pte Ltd AXA WM
      9,391 words
    • 867 28 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 117 +1 42 117 117 116 122 534.1 1036 757 CIMBAsean40 100US$ US1024 1015 1019 41 325
      867 words
    • 78 28 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 6000 AVJennings A51 unch 4 51 51 51 52.5 3.6 6.9 4.1 132.8 55 16 6017 Genting HK US$ US44 +1 *****
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  • Page 27 Advertisements
    • 66 27 FRANCK MULLER BOUTIQUE 01-07 ION ORCHARD (65) 6509 3380 B1-19 THE SHOPPES AT MARINA BAY SANDS (65) 6634 8825 SINCERE FINE WATCHES NGEE ANN CITY (65) 6733 0618 LUCKY PLAZA (65) 6737 4593 SUNTEC CITY (65) 6337 5150 THE SHOPPES AT MARINA BAY SANDS (65) 6634 9782 VIVOCITY (65) 6278
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  • FINANCE & COMMODITIES
    • 374 29 In local curr In S$ In US$ dy yr dy yr dy yr Oct 18 Index Change Change Change Change Change Change World Index Preliminary 855.1 0.2 2.7 0.2 -3.0 0.1 4.8 EAFE Preliminary 780.0 0.2 -0.6 0.2 -4.4 0.1 3.2 Europe Preliminary 1153.0 0.4
      374 words
    • 187 29 Oct 19 $S Offer Bid 0vernight 1/16 1/32 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 1/8 US$ Offer Bid 7 days 0.35 0.25 1 month 0.48 0.28 2 months 0.50 0.30 3 months 0.53 0.33 6 months 0.62 0.52 9 months 0.80 0.60 12
      187 words
    • 22 29 Oct 19 S$ Bid Offer 1-month 1.3022 1.3033 2-months 1.3022 1.3033 3-months 1.3022 1.3033 6-months 1.3021 1.3033 Source: OCBC
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    • 121 29 Oct 19 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.334 1.259 Can dollar 1.301 1.251 Euro 1.852 1.781 Sterling pound 2.109 2.028 NZ dollar 1.014 0.966 US dollar 1.318 1.268 Local dollars to 100 units of foreign
      121 words
    • 27 29 Oct 19 Open High Sett STI Oct 3192 SIMSCI Oct 376.5 377.8 377.4 Taiwan Oct 281.9 283.6 281.9 Source: MF Global (S) Pte. Ltd
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    • 66 29 Oct 19 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 10 2910 2920 2922 2902 209 3904 Dec 10 2904 2914 2928 2901 4942 ***** Jan 11 2916 2919 2930 2905 ***** ***** Feb 11 2918 2918
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    • 433 29 Oct 19 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec10 99.6550 0 7412 Mar11 99.6000 0 1512 Jun11 99.5600 0 1569 Sep11 99.5000 0 2116 EUROYEN TIBOR FUTURES Dec10 99.6775 99.6775 99.6775 99.6775 0 2728 Mar11 99.7000 99.7000 99.7000 99.7025 0 1554 Jun11 99.7150 99.7150 99.7100
      433 words
    • 133 29 Oct 19 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Nov 10 404.0 400.0 404.0 14 Dec 10 404.0 Jan 11 404.0 404.0 404.0 10 Feb 11 405.0 Mar 11 406.0 Apr 11 407.0 May 11 407.0 Jun 11
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    • 86 29 Oct 19 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 20.01.2011 0.29 1-Year BY*****W 03.05.2011 0.33 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*****0S 2.875 01.07.2015 109.33 109.40 109.38 7-Year N*****0Z
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    • 105 29 Oct 18 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 10 1184.00 1185.00 1188.00 1175.00 Jan 11 1195.00 1195.75 1198.75 1186.00 Mar 11 1203.25 1203.50 1206.50 1194.25 May 11 1206.25 1204.75 1209.25 1197.50 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 10 47.66 47.77 47.83
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    • 77 29 CRUDE OIL PRODUCTS Oct 18 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 83.68 0.33 WTI (Near Mth) 83.13 1.84 Dubai (1-Mth F) 79.40 -1.93 Tapis blend 88.80 -2.20 Minas 82.05 -2.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 81.89 -1.89 Jet Kerosene 93.00 -2.95 US$/barrel Opec Oil
      77 words
    • 2394 29 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 3 unch 1167 1 3 2.00 2 6221 Asia-Pacific Strat W*****6 39 1 150 17 4.15 43 6227 ASJ Hldgs W*****1 3.5 1 4 7
      2,394 words
    • 464 29 Oct 19 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.008 6.565 0.710 7.663 43.839 88.162 0.804 11.131 3.070 1.311 84.898 42.861 1.287 6.826 0.948 30.514 29.517 0.624 0.988 Canada 0.992 6.512
      464 words
    • 85 29 Oct 19 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 29 Oct 19 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2861 1.2874 0.9876 0.9878 Canadian dollar 1.2755 1.2772 0.9795 0.9800 Euro 1.8118 1.8135 1.3913 1.3915 NZ dollar 0.9804 0.9826 0.7529 0.7539 Sterling pound 2.0623 2.0647 1.5837 1.5842
      154 words
    • 138 29 Oct 19 GOLD (US$/oz) Oct 18 Oct 19 Hong Kong 1359.00 1370.00 Oct 15 Oct 18 London 1372.65 1370.25 1373.15 1371.05 Source: Thomson Reuters CAST BAR Oct 19 (S$) Selling Buying Kilobar 61,574.22 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 138 57 5gm 392 287 10gm 699
      138 words
    • 71 29 Oct 18 Oct 18 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2374.75 2343.25 3 months 2410.00 2377.00 Copper, Grade A (US$/tonne) Cash 8426.00 8381.00 3 months 8443.00 8400.00 Lead (US$/tonne) Cash 2411.00 2398.50 3 months 2437.50 2425.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 82 29 Oct 18 COCOA (£/tonne) Close Prev High/Low Dec 10 1859 1850 1884/1848 Mar 11 1888 1877 1912/1875 May 11 1907 1897 1927/1895 Jul 11 1925 1914 1945/1923 COFFEE (US$/tonne) Close Pev High/Low Nov 10 1652 1651 1658/1640 Jan 11 1680 1682 1687/1670 Mar 11 1697 1698 1703/1690 May 11
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    • 5671 30 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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  • Page 31 Advertisements
    • 34 31 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 THE BUSINESS TIMES SHIPPING TIMES
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  • Page 32 Advertisements
    • 529 32 There's an easier way to move gold into your portfolio. EH I e r~ < i I I I M l.v I r r I ml KJ J 1 ■■•IV HIM; 0 1 s« v K >v ftUBHWSWP I. ■••si 59# /f you wanted to invest in gold, you could
      529 words

  • Page 33 Advertisements
    • 331 33 t s SIAS INVESTORS' CHOICE AWARDS Best Retail Broker Award 2010 Ph\\\\jpFK3BS < (i A The Forex Platform w for Active Traders Trailing Stop now available v Multi-Bank Liquidity One-Click Trading Live Portfolio Trading Through Live Charts Extensive Order Types Live Streaming News Call Alert Manager New Customizable Workspace V
      331 words
  • executive Money
    • 843 33  -  This is not just a short-term tactical strategy but one which can also pay off in the long run MONEY MATTERS ERIC SANDLUND The writer is head of UBS Investment Management APAC INVESTORS probably don't need reminding of how low deposit rates are.
      Source: Bloomberg data as at Sept 15,2010  -  843 words
    • 727 34  -  Bank Sarasin says investors would do better to buy undervalued blue chips in developed markets, reports GENEVIEVE CUA GENEVIEVE CUA EGGED on by near-zero interest rates, investors are piling into the emerging markets, but are valuations too rich? Bank Sarasin managing partner Guy Monson argues that
      727 words
    • 582 34 But critics say they can be complex and expensive NYT [NEW YORK] In 2005, K Geert Rouwenhorst and Gary B Gorton, now finance professors at Yale, published a paper about the investment benefits of an asset class that was then the province of
      NYT  -  582 words

  • Page 34 Advertisements
    • 103 34 Emerging Market Funds UP, Wisdom never emerges overnight. On the ground expertise. Local understanding. Years of detailed research. That's the wisdom behind every one of our funds. J.P. Morgan a signature that delivers over 140 years of unparalleled wisdom to your investment portfolio. Talk to your investment advisor about our
      103 words