The Business Times, 15 November 2010

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Total Pages: 33
1 34 The Business Times
  • 23 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) 138/08/2010 Monday, November 15,2010
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  • 697 1  -  The commodities group seals new deals totalling more than US$1.5b amid attractive tax benefits By JAMIE LEE [SINGAPORE] Olam International has enlarged its footprint in Africa through two key deals with the Gabonese government a US$1.3 billion fertiliser production plant project, and a US$236 million
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  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST Index 3,252.00 +11.69 KL COMP 1,499.81 -11.93 NIKKEI 225 9,724.81 +98.82 HANG SENG 24,222.58 -654.24 SET INDEX 1018.86 -21.59 JAKARTA COMP 3,665.85 +10.55
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  • 971 1  -  However, 90% of sub-sale transactions still turned a profit By UMA SHANKARI [SINGAPORE] A handful of private homes nearing completion in the prime Orchard Road area have been re-sold at a loss. A Savills analysis of caveats captured by the Urban Redevelopment Authority’s Real Estate
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  • Page 1 Advertisements
    • 167 1 BizIT SingTel gears up to become a major ICT provider PAGE 32 VIEWS FROM THE TOP Making doing business a breeze PAGES 12-13 DINING OUT Value-for-money Japanese fare PAGE 26 F1 Sobbing Vettel is F1’s youngest champion PAGE THE DRIVER'S WATCH No other watch is engineered quite like a Rolex.
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  • TOP STORIES
    • 936 2  -  PM Kan pledges to open up Japan, including its agricultural sector By ANTHONY ROWLEY POLITICAL leaders from 21 Asia-Pacific economies ended their weekend summit in Yokohama yesterday with rather low-key collective agreements on the need to work toward a re-gion-wide
      BLOOMBERG  -  936 words
    • 498 2  -  Risks of overheating with another spurt; 3-5% more realistic By JAMIE LEE [SINGAPORE] Singapore’s economy cannot expand another 10 per cent next year as another growth spurt would mean taking in more foreign workers and risks in overheating, Prime Minister Lee Hsien Loong
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    • 514 2 Olam steps up Gabon investment OLAM International has enlarged its footprint in Africa through two key deals with the Gabonese government a US$1.3 billion fertiliser production plant project, and a US$236 million investment plan for palm plantations. FRONT PAGE Getting burnt over high-end homes A HANDFUL of private
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    • 698 3  -  Fed’s purchase of Treasuries, GM IPO both have marketmoving potential WALL STREET INSIGHT By ANDREW MARKS CHINA’s economy is too strong, the eurozone’s is too weak and the US stock market got caught in between last week as overseas issues, including the Group of 20
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    • 604 3 Hamilton finishes second, Button takes third place in Abu Dhabi Grand Prix Reuters [ABU DHABI] Germany’s Sebastian Vettel sobbed with joy after becoming Formula One’s youngest world champion yesterday with a pole to flag victory in the seasonending Abu Dhabi Grand Prix. The 23-year-old
      Reuters; REUTERS  -  604 words
  • Page 2 Advertisements
    • 246 2 THE 25th CHUA CHORTECK ANNUAL MEMORIAL LECTURE Nuclear Energy Maritime Activities by Professor Sir Eric Ash BSc, PhD, Imperial College, London, CBE, FREng, FRS After three decades of quiescence, interest and investment in nuclear energy have revived. Join Professor Sir Eric Ash at the Chua Chor Teck Memorial Lecture as
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    • 228 2 GLOBAL EXECUTIVE EDUCATION PROGRAM Growth Strategies in Asia 22 23 November, 2010 (Shangri-La Hotel, Singapore) Dr. Aneel Karnani, Professor of Strategy at the University of Michigan Awarded five times Global Teaching Excellence award at University of Michigan Strategy advisor to global companies including Temasek Holdings, GE, IBM, Singapore Airlines, Acer
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  • Page 3 Advertisements
    • 1176 3 Advertising Feature i Interview with Mr Abid AliZ Neemuchwala, Vice President, Global Head for BPO Services and Process Excellence: Tata Consultancy Services Abid Ali Z Neemuchwala (Abid) is the Global Head for Tata Consultancy Services' (TCS) BPO Services and Process Excellence. Having been with TCS for 18years, Abid has been
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  • COMPANY NEWS
    • 622 4  -  Dark pool venture’s CEO sees challenge as getting local players on board By JAMIE LEE CHI-EAST the joint-ven-ture dark pool between Chi-X Global and the Singapore Exchange (SGX) will be the first in Asia to publish its daily post-trade numbers, as concerns over transparency
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    • 273 4  -  By JAMIE LEE TAT Hong Holdings has posted a 7 per cent increase in second-quarter net profit, propped up by higher sales. The crane rental firm posted a profit of $7.08 million for the three months ended Sept 30, compared with a
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    • 729 4  -  HOCK LOCK SIEW By CONRAD TAN SINGAPORE banks’ third-quarter results were better than many had dared to hope. Yet, the difficulties that they face haven’t gone away. Interest rates here are still low; indeed, they have declined further since the end of September and
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    • 1398 9  -  While the review of effectiveness can be risk-based, the review of adequacy should not be UNTICKING THE BOX By SOVANN GIANG The writer is executive director, Singapore Institute of Directors GUIDELINE 13.3 of the Code of Corporate Governance states: “The (audit committee) should ensure that
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  • Page 4 Advertisements
    • 1 4 CUSG0127_1010
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    • 1178 4 MATS NOTICES EZION HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****4364E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Ezion Holdings Limited (the “Company”) will be held on Tuesday, 30 November 2010 at No. 87, Science Park Drive, Science
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  • Page 5 Advertisements
    • 367 5 Citigold Your team of specialists. Expertise. Powered by Citi. At Citigold, every conversation is about you. We will first engage you to understand your preferences before recommending a Relationship Manager who is most suited to manage your portfolio. Your handpicked Relationship Manager will then partner a team of highly experienced
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  • SINGAPORE MARKETS
    • 664 6  -  But as markets everywhere are awash with liquidity, stocks will most likely be well-supported STOCKS R SIVANITHY Senior Correspondent IF NO less an intellectual giant than the former governor of Alaska, Sarah Palin, starts bashing QE2 and the Fed’s money printing, then you’d have
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    • 381 6 CURRENCIES Bloomberg [SINGAPORE] Asian currencies fell last week, led by South Korea’s won and the Philippine peso, on speculation that policymakers around the region will impose controls to temper the effect of surging inflows on their currencies. Officials from the Group
      Bloomberg  -  381 words
    • 678 6 COMMODITIES AFP [LONDON] Copper and tin prices nailed historic highs last week, and gold smashed above US$1,400 for the first time in history in a sustained record-breaking run fuelled by hopes of economic recovery. Crude oil meanwhile rocketed to two-year peaks while soft or agricultural
      AFP  -  678 words
    • 110 6 BY CENTS CLOSE UP DBXT MSUSA 10US$ 2874 442.7 13.5 GLD 10US$ ***** 315.4 1.8 JMH 4822 163.6 2.7 DBXT DBLCI-OY 5US$ 3789 155.8 3.3 DBXT MSJAP 10US$ 3830 116.8 2.4 DBXT MSAsExJp 10US$ 3345 81.8 1.9 OCBC Bk.ES.1011 1014 77.0 8.2 CityDev.ES.1011 1360 64.0 4.9 Lyxor MS India
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    • 123 6 BY CENTS CLOSE DOWN DBXT Nifty 10US$ *****-598.4 -3.2 DBXT E50 10US$ 4112-284.3 -5.1 DBXT MSKorea 10US$ 5363-244.0 -3.4 DBXT SPASX200 10US$ 3281-179.1 -4.0 IS DJ US Tech 6186-166.2 -2.0 DBXT FTVietnam 10US$ 3480-155.8 -3.3 DBXT MSEurope 10US$ 4446-122.0 -2.1 DBXT AUD Bonds 5AU$ *****-113.8 -0.6 Lyxor China H
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    • 1460 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 Properties 2.80 2.80 10 10.77 11.14 1.34 1.20 ARA Asset Mgt 2.25 1.75 4 7.80 19.36 1.51 1.51 Armstrong Industrial Corp 1.00 1.00 3 4.90 8.88
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    • 5 6 WEEKLY
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    • 4 6 WEEKLY
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    • 64 6 Nov 12 VALUE CLOSE BT OB/OS 119.00-316.00 BT CADI -*****.00-290.00 BT 10-day MA -*****.00 +12.00 FTSE ST Mid Cap 803.42 -14.31 FTSE ST Small Cap 587.21 -9.28 FTSE ST All Share 802.98 -10.99 FTSE ST China Top 300.08 -2.94 FTSE ST China 340.52 +2.64 FTSE ST Catalist
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    • 61 6 VOLUME TopGlobal 1,238,282,000 Genting SP 1,074,496,000 *Genting HK US$ 678,713,000 TopGlobal W*****9 565,363,000 Golden Agri 500,451,000 Nordic 482,307,000 Noble Grp 259,662,000 GMG Global 215,355,000 UniFiber 210,915,000 Kreuz 185,174,000 VALUE($) Genting SP 2,401,910,160 Wilmar 752,672,512 Noble Grp 558,672,641 DBS Grp 550,489,952 OCBC Bk 539,738,690 SingTel 490,200,660 CapitaLand 489,453,354
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    • 1443 8  -  TEH HOOI LING Senior Correspondent OUR portfolios registered their third week of decline in the last four weeks last week. On average, the six portfolios slid 0.5 per cent. This compared with the 2 per cent gain the week before, and the 1.1 per cent and
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    • 1546 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE buying was flat while the selling among directors rose last week based on filings on the Singapore Exchange from Nov 8 to 12. A total of nine companies recorded
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  • Page 7 Advertisements
    • 922 7 DBS offers Preference Shares Offer of up to S$500,000,000 in aggregate liquidation preference of 4.70 per cent. Non-cumulative Non-convertible Non-voting Preference Shares Callable in 2020 ("Preference Shares") (subject to the Upsize Option) (as defined below), to be issued by DBS Bank Ltd. at the issue price of S$100 per Preference
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  • Page 9 Advertisements
    • 107 9 LUXURY TOURS TRAVEL PTE LTD The Leading Operator I'A Established 1985 M "Fullfilling your requirments with finesse" Our experienced team of planners takes charge right from the start. We offer you the best venues available, suggestions settings. These include transportation, meals, sightseeing tours tourist guides. Our services at a glance
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    • 348 9 Trade lots for less Commodity CFDs. Smaller lot sizes for greater trading flexibility with Saxo. fffl i •liik i J y <•- A W5 ft w K v" I Commodity futures contracts are great for hedging in a volatile market. With Saxo Capital Markets, you can go long or short
      348 words

  • SINGAPORE NEWS
    • 606 10  -  Mr Xi hopes trip will ‘facilitate fresh progress’ in bilateral relations By LEE U-WEN THEY greeted each other with a firm handshake and the warmest of smiles. One could say that the close friendship between Minister Mentor Lee Kuan Yew, 87, and Chinese
      SAMUEL HE/THE STRAITS TIMES  -  606 words
    • 244 10 Reuters ADAM Scott held a threeshot lead when the final round of the Singapore Open was halted by rain yesterday, the Australian now having to wait until today to try and become the event’s first three-times winner. Play was suspended just before noon due
      Reuters  -  244 words
    • 115 10 SINGBRIDGE International Singapore has inked a joint venture (JV) deal with the Guangzhou municipality for a four billion yuan (S$781 million) JV firm that would develop the Sino-Sin-gapore Guangzhou Knowledge City Project. The JV, to be based in China, is a 50-50 partnership between
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    • 1249 10 Payment Ex Books Pay Ann (cts) date close date date Action Asia aw 0.500 18-Nov 22-Nov 01-Dec 08-Nov AIMS AMP Cap Ind Reit ag 0.397 04-Nov 09-Nov 17-Dec 01-Nov Allied Tech aw 0.200 03-Dec 07-Dec 22-Dec 11-Nov Ascendas India Trust bi 3.360 04-Nov 09-Nov 22-Nov 25-Oct Ascendasreit ao
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    • 874 11  -  Polytechnic students and alumni get support to start businesses, reports CHAN SWEE KHUAN CHAN SWEE KHUAN THEY are young but passionate about their business ideas. With strong support from their alma mater, they are bringing these ideas to the market place. Nadiah Junadi,
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    • 198 11 KEPPEL Land sold some 70 units of The Lakefront Residences over the weekend, bringing its total sales since Friday’s preview to 320 units. The 320 units, which represent 80 per cent of 400 units currently up for sale, were sold at an average price of
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  • Page 10 Advertisements
    • 59 10 100 Isotonic DrinkSponsorof is the Official it VI l m h L v#t-' Outdrive the competition, 0ve rco m e trees, wate r h a za rd s a n d b u n ke rs, To hole the winning puttand, A PLACE IN THE i HISTORY BOOKS w i!
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  • Page 11 Advertisements
    • 497 11 TOSHIBA Leading Innovation »> Windows®. Life without Walls™. Toshiba recommends Windows 7. R700 LIGHTNING-FAST BRAIN SUPER-SLIM BODY. FULL SPEC. NOW THAT'S SMART. m re Super-slim 1.9cm thin full-feature notebook with 512GB Solid State Drive powered by the smart Intel® Core™ \1 processor, complete with Intel® Turbo Boost technology for extra
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  • VIEWS FROM THE TOP
    • 3236 12 THIS WEEK’S TOPIC: Although Singapore is ranked No 1 one in terms of the overall ease of doing business, are there areas where there is still room for improvement, whether in terms of policies or procedures? Can you suggest ways in which the business environment
      BLOOMBERG  -  3,236 words

  • Page 13 Advertisements
    • 103 13 Q < Fill it up with people, not petrol. Reducing pressure on the environment takes initiative. At Mercedes-Benz we call it BlueEFFICIENCY. It is our blueprint for a sustainable, emission-free future. The B-Class F-CELL is our greatest achievement to date. Featuring a 136 hp electric engine powered by hydrogen and
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 819 14  -  Young companies, like young seedlings, need the right opportunities and conditions to grow, says JOSEPH WONG JOSEPH WONG The writer is founder and principal trainer of TrainingGearAsia, which is hosting a training seminar for youths in conjunction with Global Entrepreneurship Week 2010 (Nov 15-21). He can be
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    • 984 14  - Teamwork pays off Go for The Gold Four fresh S’pore Poly grads emerge runners-up at management contest in HK. Teammate JOSHUA WEE reports CAMPUS LIFE JOSHUA WEE THE thought of winning at the prestigious Asian Management Game (AMG) was more like a dream for us, something near impossible to attain.
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  • Page 14 Advertisements
    • 271 14 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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  • ECONOMY WATCH
    • 412 15 The Trade Representative hopes to conclude the pact before the Apec meeting in November next year Bloomberg [YOKOHAMA] The US is pushing to complete trade talks with nine Asia-Pacific countries by late next year that lays the groundwork for a bigger agreement
      Bloomberg  -  412 words
    • 701 15 The aid may total about 80b euros between 2011-2013 Bloomberg [BRUSSELS] Germany is pressing Ireland to seek aid before a Nov 16 meeting of European finance ministers to calm market volatility and win agreement on making investors help pay for future bailouts, a German
      Bloomberg; PHOTO: REUTERS  -  701 words
    • 212 15 Reuters [LISBON] Failure to adopt a broad coalition government to deal with the financial crisis could result in Portugal being forced to abandon the euro currency, its foreign minister said in an interview published on Saturday. The opposition and government must come
      Reuters  -  212 words
  • Page 15 Advertisements
    • 146 15 «3fc m ©i i ■■M The best way through New York traffic is over it. In our helicopter. Road sign to airport hidden. If you miss it, take the second left and then the third right. J Documents to Martha on 1st floor, everything else to John in dispatch. MEflkss*
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  • MALAYSIA
    • 612 16 It makes its mark in KLCC, Seremban, Kajang, Bt Jelutong, and even Canada [KUALA LUMPUR] Malaysian property developer Sunrise Bhd, having built up a strong brand name in the high-end condominium market, is embarking on the third stage of its growth to diversify its property
      AP  -  612 words
    • 558 16  -  MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent MALAYSIA’S two main government pension funds have made their first property purchase in Britain, acquiring an office building as part of plans to invest up to RM4.98 billion (S$2 billion) in the British market.
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    • 1982 16 VOL Nov 12 RM +/-(‘000) A M Realty 0.60 -0.02 144 Abric Bhd 0.36 -0.01 582 Advance Synerg 0.21 -0.02 6929 Adventa Bhd 2.24 -0.02 260 Ae Multi Hldgs 0.34 -0.02 982 Affin Holdings 3.22 unch 1100 Ahmad Zaki Res 1.11 -0.06 1815 Aic Corp 1.26 0.02 1008
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  • Page 16 Advertisements
    • 209 16 NewProgram Master of Science in Supply Chain Management Full-time Part-time The new Master of Science in Supply Chain Management is ideal for mid-career professionals who are keen to advance their career in logistics and supply chain management. This new program will provide you with A comprehensive understanding of supply chain
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  • GREATER CHINA
    • 494 17 But a senior Chinese diplomat warns that their efforts face stubborn hurdles Reuters [YOKOHAMA] Japan and China began repairing ties yesterday, stressing bridgebuilding gestures and muting tensions over a territorial row, but a senior Chinese diplomat warned that their efforts faced stubborn hurdles. Relations between
      Reuters; AP  -  494 words
  • Page 17 Advertisements
    • 170 17 Better power V I "Mliri Wa A J mr\ y IB MJFi ■ri <■ II II iT^5rsr a rn 1 111 r/!// r i i» r: X.' a. H25GAS TURBINE THERMAL POWER STATION COMBINED CYCLE POWER PLANT TOMORROW TiGETHER Global enterprises depend on Hitachi's gas turbine technology as a smarter
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  • Page 18/19 Advertisements
    • 482 18/19 THANK YOU! Solar will be one of the most important sources of electricity in the coming years. On Wednesday November 3,2010, REC officially opened one of the world's largest integrated solar production facilities in Tuas, Singapore. With this new wafer, cell and module production facility, REC will be able to
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  • GREATER CHINA/INDIA
    • 719 20 Industry facing massive shortfall of qualified civil engineers AFP [NEW DELHI] Evidence of India’s construction boom can be seen in the new high-rise apartments sprouting up across the country, but the industry is suffering from a serious shortage of engineers and designers. Bright, well-educated
      AFP  -  719 words
    • 305 20 Reuters [NEW DELHI] State-run Indian Oil Corp (IOC) on Saturday reported a surge in September quarter profit and said it would appoint up to six merchant banks by Nov 20 to handle its planned share sale. IOC’s September quarter profit at
      Reuters  -  305 words
    • 459 20 Bloomberg [WASHINGTON] Investors say they are seeing opportunity and taking on greater risk, looking more to emerging markets such as China, Brazil and India than developed countries, a Bloomberg survey shows. The United States was in fourth place behind those economies in offering the
      Bloomberg  -  459 words
    • 312 20 Bloomberg [BEIJING] China’s diabe-tes-related medical costs, estimated at 173.4 billion yuan (S$33.9 billion) annually, will skyrocket in 10 to 20 years as 100 million sufferers seek treatment and care for related ailments such as kidney failure, stroke and blindness, health officials said. Diabetes
      Bloomberg  -  312 words
  • Page 20 Advertisements
    • 1430 20 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg UOL GROUP LIMITED S$100,000,000 FLOATING RATE NOTES DUE 2012 Pursuant to Condition 4(d) of the Notes, notice is hereby given that for the next Interest Period beginning on 15 November 2010 and ending (but excluding) on 16 May 2011, the Notes will carry
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  • WORLD
    • 681 21 OECD also warns it against reliance on the China-linked resources boom AFP [SYDNEY] The Organisation for Economic Co-opera-tion and Development (OECD) yesterday urged Australia to extend its mining profits tax and save the spoils, warning that reliance on the China-linked resources boom
      AFP; BLOOMBERG FILE PHOTO  -  681 words
    • 445 21 Pressure to cut costs may force operators to sell the networks Reuters [STOCKHOLM] Mobile network equipment maker Ericsson could one day own the networks it has traditionally built for telecom operators as a way to generate new sources of revenue, a top
      Reuters  -  445 words
    • 469 22 Staffing surpasses pre-crisis levels for some as they bank on region’s growth Routers [LONDON] Private banks will sharply expand headcount in coming years to capitalise on the growing number of wealthy individuals in Asia, dismissing concerns that aggressive hiring is out
      Routers  -  469 words
    • 584 22 Prices have dropped; about 1.5m homes are lying unsold AFP [MADRID] Knock-down home prices, idle cranes and builders forced to retrain for new jobs: despite sliding prices the spectre of a Spanish property bubble is hurting a fragile economic recovery. The new labour minister,
      AFP  -  584 words
    • 455 22 AP [NEW YORK] Anyone wanting to walk in the shoes of fallen financier Bernard Madoff was in luck on Saturday: thousands of belongings from his New York City penthouse, including his used shoes, went on the auction block. An anonymous bidder paid the highest price
      AP; PHOTOS: AFP  -  455 words
    • 261 22 Reuters [ABU DHABI] UAE banks have been told to take provisions for bad loans on a quarterly basis, in long-awaited guidelines from the central bank aimed at bringing the banking system in line with international standards. Banks in the United Arab Emirates have suffered
      Reuters  -  261 words
    • 816 23 US primacy and credibility have been eroded by the global financial crisis Reuters [BEIJING] Economic power is leeching from the old world to emerging markets. The politics of globalisation are not keeping pace with this shift. And that makes it hard to agree
      Reuters; AFP  -  816 words
    • 421 23 She also urges supporters to stand up for their rights Reuters [YANGON] Pro-democracy leader Aung San Suu Kyi yesterday called for freedom of speech in armyruled Myanmar, urged thousands of supporters to stand up for their rights, and indicated that she
      Reuters; REUTERS  -  421 words
    • 568 23 Critics say the G-20 summit in Seoul exposed fierce criticism of US economic policies AFP [YOKOHAMA] President Barack Obama left Asia yesterday digesting complex new realities in a region where rising powers like China wield new influence and challenge American global
      AFP  -  568 words
    • 263 23 Bloomberg [SEOUL] Canadian Prime Minister Stephen Harper said his government plans to provide “guidance” to investors on what kinds of foreign takeovers it will tolerate, after the country rejected Melbourne-based BHP Billiton Ltd’s bid to acquire Potash Corp of Saskatchewan Inc. Mr Harper,
      Bloomberg  -  263 words
    • 463 23 Greens seek to put two-year freeze on Westpac, 3 others Bloomberg [PERTH] Westpac Banking Corp and its closest competitors in Australia would face restraints on increasing mortgage interest rates under legislation planned by the Greens Party. The Greens aim to put a 24-month freeze
      Bloomberg  -  463 words
  • Page 21 Advertisements

  • Page 22 Advertisements
    • 2682 22 NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg A-SONIC AEROSPACE LIMITED (Incorporated in the Republic of Singapore) Regn. No. *****1838G NOTICE EXPIRY OF WARRANTS To: ALL HOLDERS OF WARRANTS TO SUBSCRIBE FOR NEW ORDINARY SHARES IN THE CAPITAL OF A-SONIC AEROSPACE LIMITED (THE "COMPANY") THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE
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  • ASIA-PACIFIC/WORLD
    • 764 24 Leveraged players bitten as prices of cotton, silver dive from multi-year highs Reuters [NEW YORK] For most of this year, many commodity investors poured money largely borrowed into smaller niche markets that had been overlooked. This trend, which drove prices of commodities like cotton
      Reuters  -  764 words
    • 634 24 [CHICAGO] The new round of cash the Federal Reserve is pumping into the US economy to spur job growth could create bubbles that do the very opposite, some Fed officials are warning. Dallas Fed president Richard Fisher suggested last week that a
      REUTERS  -  634 words
    • 392 24 AFP [SYDNEY] Australian antiimmigration firebrand Pauline Hanson yesterday said she had abandoned plans to move to Britain because “it’s overrun with immigrants and refugees”. Ms Hanson, the former One Nation party chief who famously warned that Australia was at risk
      AFP  -  392 words
    • 382 24 Reuters [BOSTON] With no quick fix in sight for the crisis in US mortgage servicing, the outlook for foreclosures remains “grim” for the next couple of years, newly appointed Federal Reserve governor Sarah Bloom Raskin said. “I believe that serious and sustained reform
      Reuters  -  382 words
  • Page 24 Advertisements

  • AVIATION/SHIPPING
    • 490 25 But Chinese coal imports still support smaller panamaxes, drive freight activity Reuters [LONDON] The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in three months on Thursday as slower Chinese iron ore
      Reuters  -  490 words
    • 251 25 SEMBCORP Marine has, for the past 10 years, been raising funds for its School Book Assistance Grant (SchoolBAG) programme which gives financial aid to Singaporean kids whose families’ combined household income does not exceed $1,500. This year, the firm raised $317,000 for its SchoolBAG
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    • 278 25 SGX '000 Nov 12 S$ +/-Vol CH Offshore 0.53 unch 517 Chuan Hup Hldg 0.23 unch 277 Cosco Corp 2.09 -0.06 ***** CWT Ltd 0.96 -0.01 835 Ezra Hldgs 1.75 -0.05 6115 First Ship Lea 0.44 -0.01 771 Freight Links 0.09 unch ***** Grand Banks unch unch 0
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    • 627 25 Superjumbos still on ground 10 days after the engine blowout AP [SYDNEY] Australia’s national airline is keeping its flagship superjumbos on the ground more than a week after a frightening midair engine disintegration, disrupting its most lucrative long-haul routes even as regulators and pilots
      AP; BLOOMBERG  -  627 words
    • 260 25  -  By ALEC ALEC ALMAZAN LISTED aircraft maintenance, repair and overhaul (MRO) outfit, SIA Engineering Company (SIAEC), is investing one billion pesos (S$29.6 million) in a second hangar at the Clark Civil Aviation Complex, north of Manila. Clark International Airport Corporation president and CEO Victor Jose
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    • 3176 25 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1230 SQ456 1245 EY473 1940 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 Amsterdam LO4031 0605 LO4032 2350 SQ323 0605 SQ324 2350 US5410 0605 US5411 2350 AZ3992 1615 KL835 1615 KL836 2355 Athens
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  • Page 25 Miscellaneous
    • 374 25 CRYPTIC CROSSWORD Across 1 Backing for singer during quiet drink? That’s OK (8) 5 Substitute man making decisions about story (6) 9 Award given by name in assembly following orders? (8) 10 Choppy sea for one in landing place making one nauseous (6) 12 A tank is renovated in keeping
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  • DINING OUT
    • 740 26  -  NEW RESTAURANT Fukuichi Japanese Dining Triple One Somerset 111 Somerset Road, #02-11/12 Tel: 6271 5586 www.fukuichidining.com.sg By Geoffrey Eu FUKUICHI Japanese Dining may be a new entry in the ongoing parade of mid-range, family-style Japanese restaurants in town, but it has the sort of competitive edge that
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  • Page 26 Advertisements
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  • SINGAPORE STOCKS
    • 9415 27 Week ended: Nov 12 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 14.5 3148 8Telecom 18.5 +0.5 1534 19 17.5 18.5 19 1.7 9.8 5.9 88.6 12 5 5834 A-Sonic
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    • 1879 28 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 $mil 7 4 1181 t AA Grp 4.5 4 5 25 4.3 225 130 6222 t APStrategic 164 unch 9 164 160 158
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    • 116 28 Stock name Close Change CapMallsAsia 2.090 -0.030 CapitaLand 3.820 -0.060 CapitaMall 1.970 -0.010 CityDev 13.040 -0.460 ComfortDelGro 1.460 -0.010 DBS Grp 14.040 -0.040 F&N 6.580 -0.070 Genting SP 2.130 -0.150 Golden Agri 0.730 -0.030 HK Land 7.290 +0.240 Stock name Close Change JMH 48.220 JSH 27.900
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    • 2636 28 Transaction date: Nov 12 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.70 -0.30 2 Aeon Stores 17.40 unch 0 Angang Steel 12.38 -0.38 ***** Anhui Conch 31.70 -0.95 7797 Anhuiexpresswa 6.74 -0.01 5482 Asia Satellite 13.80 -0.08 2 Asm Pacific 69.95 -1.15 617 Bank Of E Asia 33.35
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    • 186 28 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 8 3 0 0 0 7 8 3 Manufacturing 56 98 73 10 11 21 66 109 94 Commerce 30 39 15 10 8 4 40 47 19 Tpt/Stor/Comms 15 26 5
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    • 948 28 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 $mil 124 107 6389 ABF SG Bond ETF 118 +3.8 20 118 113.7 110 118 538.6 1056 761 CIMBAsean40 100US$ US1037 +1 470 1056 1036
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    • 264 28 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 $mil 56 38 6000 AVJennings A53 unch 20 54 50 52.5 56 3.6 6.6 4.2 138 55 16 6017 Genting HK US$ US48.5 +2.5 *****3 53
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    • 123 28 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 168,753 168,753 651,431 651,431 Manufacturing 2,177,351 100,258 2,277,609 2,198,271 5,429 2,203,700 Commerce 615,156 96,498 711,654 1,019,625 12,739 1,032,364 Tpt/Stor/Comms 894,850 4,026 898,876 1,509,134 423 1,509,557 Finance 180,689 2,558 183,247 1,653,938 283 1,654,221 Construction 510,889 1,327,095
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  • Page 28 Advertisements
    • 26 28 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 29 In local curr In S$ In US$ dy yr dy yr dy yr Nov 12 Index Change Change Change Change Change Change World Index Preliminary 868.3 -0.7 4.3 -0.3 -2.2 -0.8 6.0 EAFE Preliminary 786.4 -0.5 0.2 -0.1 -4.8 -0.6 3.2 Europe Preliminary 1156.7 -0.3
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    • 180 29 Nov 12 $S Offer Bid 0vernight 0.03 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.08 US$ Offer Bid 7 days 0.33 0.23 1 month 0.37 0.27 2 months 0.42 0.32 3 months 0.45 0.35 6 months 0.55 0.45 9 months 0.75 0.55 12
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    • 22 29 Nov 12 S$ Bid Offer 1-month 1.2980 1.2986 2-months 1.2980 1.2985 3-months 1.2980 1.2986 6-months 1.2979 1.2984 Source: OCBC
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    • 121 29 Nov 12 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.33 1.255 Can dollar 1.309 1.259 Euro 1.792 1.724 Sterling pound 2.118 2.037 NZ dollar 1.034 0.985 US dollar 1.309 1.259 Local dollars to 100 units of foreign
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    • 27 29 Nov 12 Open High Sett STI Nov 3236 SIMSCI Nov 388.3 388.6 380.3 Taiwan Nov 299.3 299.7 294.3 Source: MF Global (S) Pte. Ltd
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    • 68 29 Nov 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 10 749 Dec 10 3320 3349 3361 3283 659 4214 Jan 11 3333 3353 3355 3269 ***** ***** Feb 11 3305 3351 3352 3270 9456 ***** Total
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    • 424 29 Nov 12 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec10 99.6650 0 9561 Mar11 99.5500 0 2257 Jun11 99.4350 0 2654 Sep11 99.3300 0 2056 EUROYEN TIBOR FUTURES Dec10 99.6625 99.6625 99.6600 99.6600 0 3248 Mar11 99.6650 0 1475 Jun11 99.6650 0 1537 Sep11 99.6575 200
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    • 171 29 Nov 12 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Dec 10 440.0 432.0 438.0 141 564 Jan 11 430.0 428.0 430.0 16 560 Feb 11 428.0 482 Mar 11 429.0 383 Apr 11 445.0 434.0 434.0 50 234
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    • 88 29 Nov 12 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 10.02.2011 0.29 1-Year BY*****N 01.11.2011 0.40 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 103.84 103.91 103.85 5-Year N*****0S 2.875 01.07.2015 108.67 109.05 108.68
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    • 105 29 Nov 12 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 10 1263.00 1330.25 1337.75 1259.00 Jan 11 1269.00 1339.00 1348.50 1269.00 Mar 11 1277.00 1347.00 1354.50 1277.00 May 11 1276.50 1346.50 1355.00 1276.50 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Dec 10 52.53 55.03 55.13
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    • 77 29 CRUDE OIL PRODUCTS Nov 11 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 89.08 0.29 WTI (Near Mth) 87.77 0.04 Dubai (1-Mth F) 86.36 0.65 Tapis blend 93.20 0.80 Minas 88.80 0.80 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 89.17 1.39 Jet Kerosene 102.25 1.45 US$/barrel Opec Oil
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    • 2554 29 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2.5 unch 1979 1 3 2.20 1 6221 Asia-Pacific Strategic W*****6 38 -1 60 1 150 15 4.32 42 6227 ASJ Hldgs W*****1 3.5 unch
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    • 464 29 Nov 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.997 6.550 0.725 7.638 44.211 87.934 0.807 11.119 3.066 1.272 84.136 43.068 1.279 6.906 0.961 29.861 29.389 0.614 0.985 Canada 1.003 6.567
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    • 85 29 Nov 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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 29 Nov 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2786 1.2796 0.9850 0.9854 Canadian dollar 1.2819 1.2829 0.9876 0.9879 Euro 1.7648 1.7660 1.3595 1.3599 NZ dollar 1.0052 1.0060 0.7744 0.7747 Sterling pound 2.0825 2.0839 1.6043 1.6047
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    • 137 29 GOLD (US$/oz) Nov 11 Nov 12 Hong Kong 1407.70 1386.00 Nov 12 Nov 11 London 1378.30 1400.70 1379.20 1401.60 Source: Thomson Reuters CAST BAR Nov 12 (S$) Selling Buying Kilobar 62,157.37 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 139 58 5gm 395 290 10gm 706 580 20gm
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    • 71 29 Nov 12 Nov 12 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2378.75 2431.50 3 months 2404.00 2457.00 Copper, Grade A (US$/tonne) Cash 8628.00 8835.25 3 months 8615.00 8830.00 Lead (US$/tonne) Cash 2496.25 2585.75 3 months 2520.00 2610.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 2400.00 Tin (US$/tonne)
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    • 82 29 Nov 12 COCOA (£/tonne) Close Prev High/Low Dec 10 1800 1846 1838/1798 Mar 11 1827 1871 1861/1822 May 11 1845 1890 1880/1841 Jul 11 1864 1909 1899/1860 COFFEE (US$/tonne) Close Pev High/Low Nov 10 1885 1920 1900/1888 Jan 11 1875 1931 1910/1870 Mar 11 1880 1938 1920/1878 May 11
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    • 5763 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
    • 28 31 r FREIGHT FORWARDER urgently needed by shippers 1 Can they find your here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
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  • BizIT
    • 1118 32  -  It teams up with the VCE coalition to offer hybrid cloud services, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY SINGAPORE Telecommunications (SingTel) is in the process of changing its stripes and becoming a different animal, taking advantage of a “once in
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    • 799 33  -  Social networking sites will be used by 20% of business users by 2014: study By RAJU CHELLAM WILL social networking services such as Facebook, Twitter, LinkedIn, MySpace, and Orkut replace e-mail as a primary tool for business communication? Will the burgeoning market
      AFP  -  799 words
    • 511 33  -  By VICTORIA HO HEWLETT-PACKARD (HP) is gearing up to launch a slew of cloud offerings at the end of this month. The company would not specify what these might be, but Kelly Tan, managing director of HP Singapore, indicated that the company
      511 words
    • 633 33  -  BY AMIT ROY CHOUDHURY A RECENT global survey shows that huge amounts of data is creating very real business challenges for executives in Singapore. According to Kevin Wo, vice-president of Avanade Singapore, 93 per cent of C-level executives, IT decision makers
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    • 500 33  -  By VICTORIA HO TODAY’S Facebook generation, that is, the Generation Y employees coming to the workforce want exactly what they grew up on a work interface that looks like a social network served out of a browser. At least that’s what Thomson
      500 words
    • 399 33 Reuters [SAN FRANCISCO] The technology industry’s latest rivalry takes centre stage this week when Internet powers Google and Facebook lay out their competing visions to create a new generation of Web services at a high-profile conference in San Francisco. The relationship between the two
      Reuters  -  399 words
  • Page 32 Advertisements
    • 824 32 where information lives® The Journey to the Private Cloud Starts Now As companies gear towards meeting its ever growing business requirements, its IT team has to embrace a next generation approach to its IT infrastructure. The goal is to deliver an end-to-end, on-demand self-service provisioning of IT services to its
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  • Page 34 Advertisements
    • 114 34 I® MARKETS FX/CFD trading Trade world indices and commodities in SGD and avoid currency exposure. m EURO 394 HI 44 m I o 1 20 i." i' w i HK *****529 WO Stcmaj^tk, rSs? IK'I K k£ SGD-denominated CFDs available on major indices and commodities. Eliminate your currency exposure when
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