The Business Times, 15 December 2010
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2010-12-15
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The Business Times
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Title Section23 2010-12-15 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sftl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, December 15,201023 words
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Article1066 2010-12-15 1 LYNETTE KHOO - Mergers and acquisitions specialists are upbeat after a good year By LYNETTE KHOO [SINGAPORE] Companies have gone on a shopping spree for acquisition targets this year, despite the higher price tags. This uptick in M&A activities is expected to continue into next year. Deals inked1,066 words
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Article, Illustration566 2010-12-15 1 SAMUEL EE - By SAMUEL EE [SINGAPORE] The good times are back and as proof, more than 50 units of the latest $1.5 million Lamborghini model have been ordered in the space of a few months higher than the total 2010 sales of the Italian super566 words
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Article141 2010-12-15 1 GST INDEX 3,176.91 (-5.41) GST INDEX FUTURES 3,171.0 (-5.00) GSIMSCI 375.78 (-0.07) GSIMSCI FUTURES 373.90 (-0.40) FOREX US$ S$ US$ (S$ per US$) 1.302 (US$/S$ per 1.589 2.068 EURO (US$/S$/E) 1.345 1.752 Foreign currency per US$ S$ YEN 83.40 64.00 RM 3.129 2.403 HK$ 7.775 5.971 BAHT 30.03141 words
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Page 1 Advertisements
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Advertisement302 2010-12-15 1 EXECUTIVE MONEY Bank strategists’ top picks for 2011 PAGE 31 THE BOTTOM LINE US monetary, fiscal pumps get going by default PAGE 24 LAND TRANSPORT Tyre portal gets cash boost from Europe giant PAGE 23 STRAIT TALK Well deserved welfare award PAGE 21 mm mt t r S? jpr 3:302 words
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TOP STORIES
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Article567 2010-12-15 2 2010 morsels whet M&A appetite COMPANIES have gone on a shopping spree for acquisition targets this year, despite the higher price tags. Deals inked so far this year are worth almost twice the level seen in 2009. Year-to-date, total M&A activities involving Singapore companies reached 866 deals worth567 words
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Article, Illustration701 2010-12-15 2 CHRISTOPHER LIM - Homegrown firm makes content market debut with movie player By CHRISTOPHER LIM [SINGAPORE] Creative Technology debuts in the media content business today with its ZiiEagle movie player and hundreds of Chinese movies and TV dramas up its sleeve. Its strategy: bundled content enclosed701 words
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563 2010-12-15 2 FELDA CHAY - By FELDA CHAY [SINGAPORE] Global Logistic Properties (GLP) did not specifically disclose information about a non-com-pete arrangement with ProLogis because it didn’t see the US-based firm as a real threat to its business, sources close to GLP told the media yesterday.563 words
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415 2010-12-15 2 LEE U-WEN - By LEE U-WEN [SINGAPORE] Malaysia yesterday summoned the Singapore ambassador in Kuala Lumpur over what it feels are “unjustified” remarks made by some of the Republic’s high-est-ranking officials regarding Malaysian leadership. Malaysian Foreign Minister Anifah Aman summoned Singapore High Commissioner to Malaysia T415 words
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Article, Illustration606 2010-12-15 3 ANTHONY ROWLEY - By ANTHONY in ANTHONY ROWLEY IN an attempt to boost the ailing economy, Japanese Prime Minister Naoto Kan yesterday ordered a five percentage-point cut in the nation’s corporate tax rates next April onwards. The move came on the eve of today’s606 words
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433 2010-12-15 3 NYT [NEW YORK] Investors are getting giddy over China’s tech upstarts and the dozens of other Chinese companies that have gone public in the United States in recent months, leaving some to wonder whether this boom has the makings ofNYT - 433 words
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659 2010-12-15 3 Asia-Pac carriers lead the charge in new 2010 forecast, 70% higher than in Sept THE international commercial airline industry will chalk up a record profit of US$15.1 billion this year, thanks to strong travel demand, improving economic conditions and manageable operating costs.659 words
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Page 2 Advertisements
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Advertisement601 2010-12-15 2 KPMG Seminar Series Goods and ServicesTax (GST) Seminar Making GST Work for Your Business: Gearing up for GST F5 Filing Date Thursday, 13 January 2011 Time 9.00am to 5.30pm Venue Orchard Hotel Singapore Seminar Fees Client/KPMG Alumni S$396 per participant Non-client S$450 per participant A discount of 5% will be601 words
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Advertisement31 2010-12-15 3 Belt in silver metal Ties in silk twill WINDOW SHOPPING FOR CHRISTMAS Liat Towers Tel. 6738 9807 Takashimaya Tel. 6735 5228 The Shoppes at Marina Bay Sands Tel. 6688 7111 Hermes.com31 words
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COMPANY NEWS
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Article, Illustration455 2010-12-15 4 NISHA RAMCHANDANI - Poll finds them more optimistic about 2011 economic and earnings outlook ASIAN MARKETS By NISHA RAMCHANDANI FUND managers are bullish about prospects for equity markets in Asia and in the emerging markets next year, according to a report by OCBC Bank’s wealth managementREUTERS - 455 words
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449 2010-12-15 4 LYNETTE KHOO - By LYNETTE KHOO ASIA is emerging as the most favourable region for global merger and acquisition (M&A) activities outside the traditional Western markets, according to a new index measuring M&A maturity. Created by Mergers and Acquisitions Research Centre (MARC) at Cass Business School449 words
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922 2010-12-15 4 Reuters [HONG KONG] Asian issuers are wrestling with investors’ apparently confused attitude to new listings. Deals from Chinese issuers with lofty valuations are flying out of the door, while those more conservatively valued are forced to leave something on the table.Reuters - 922 words
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393 2010-12-15 4 LINETTE LIM - By LINETTE LIM AMARA Shopping Centre at 100 Tras Street will be undergoing a $32 million revamp. According to its main-board-listed owner (Amara Holdings, a homegrown integrated lifestyle group), the retail centre will be rebranded 100 AM. Amara chief executive Albert Teo said393 words
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119 2010-12-15 4 Reuters STANDARD Poor’s Equity Research said yesterday that it has been appointed by the Singapore Exchange to provide research on American Depository Receipts (ADRs) traded in the city-state. S&P will publish reports on 15 companies whose ADRs are traded in Singapore,Reuters - 119 words
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Article, Illustration487 2010-12-15 7 EMILYN YAP - Consumer electronics distributor hints real estate may become its major business By EMILYN YAP THAKRAL Corporation yesterday unveiled plans to take a bigger step into Australia’s real estate market and signalled that property could become its major business. The company has set aside487 words
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334 2010-12-15 7 WINSTON CHAI - By WINSTON CHAI STATS ChipPAC’s post-re-structuring rebound continues with the group reporting a major spike in one of its key business segments. The semiconductor test and packaging company said in a statement yesterday that its flip chip business grew by more334 words
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164 2010-12-15 7 [HANOI] HAGL Joint-Stock Co, Vietnam’s second-biggest publicly traded real-estate company, plans to raise US$200 million from a sale of five-year bonds that will be quoted in Singapore. The fixed-rate notes will be offered in early 2011, depending on market conditions, the company164 words
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COMPANY BRIEFS
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111 2010-12-15 7 WEE Hur Holdings said that it plans to buy two properties from WM Development Pte Ltd for a total of $15 million. The purchase price for 39 Kim Keat Road is $8.3 million, while the price for 1/A/B Lorong Ampas is111 words
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Article73 2010-12-15 7 TRANSCU Group, through its subsidiary, TTI ellebeau Inc, has concluded a non-exclusive distributorship agreement with Shoun Industry to sell its Nanomizer Emulsion Fuel System (NEFS) in Japan. NEFS increases fuel combustion efficiency which in turns reduces fuel consumption cost, it said. Shoun will procure the NEFS product73 words
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96 2010-12-15 7 STARHUB Ltd announced that an application has been filed by StarHub Mobile Pte Ltd with the High Court of Singapore on Dec 14, 2010 for the High Court to wind up the business of its subsidiary, Foosti Pte Ltd. An official receiver will be96 words
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Page 4 Advertisements
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Advertisement113 2010-12-15 4 Looking for Brilliant Candidates? Mac Ashley International Professional Head Hunters Specialized in Executive Search Recruitment of Top Notch Professionals, Executives Engineers For all your exclusive hiring needs, Contact Us Today Tel: 6245-1801 E-mail: mcashley@starhub.net.sg www.mcashley.com We'll Connect you to the Right People, Always Reliable Efficient Cost Effective All-Touch Virtual Call113 words
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Advertisement66 2010-12-15 4 ©.Mr> bur&dte .i J? ea t $325$ Jl (U.P. $850) Bundle offer comes with*: 1 x Hot Cold Floor Standing Dispenser 1 x Hot Room Table-Top Dispenser 10 x 19L bottles! *T C apply. •Promotion valid until 31 Dec 2010. J "Singapore's favourite Mineral Distilled Water" survey conducted by The66 words
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Advertisement11 2010-12-15 4 CATS Recruit The first step on your ladder to success CLA/AUG06/g11 words
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Advertisement18 2010-12-15 5 FASHION RESORTS WORLD SENTOSA Rolex Boutique Luxury Fashion at Resorts World™ Sentosa. Tel: 6723 8002. t ROLEX ROLEX.COM18 words
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SINGAPORE MARKETS
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Article, Illustration562 2010-12-15 6 R SIVANITHY - Market barometer largely lifeless, moving within narrow band before ending 5.41 points down at 3,176.91 STOCKS R SIVANITHY Senior Correspondent THERE was some action in the broader market yesterday ahead of the US Federal Reserve’s final Open Market Committee meeting for 2010 laterSource: Bloomberg - 562 words
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Article186 2010-12-15 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 4 4 0 0 0 7 4 4 Manufacturing 92 35 65 3 3 15 95 38 80 Commerce 29 15 21 3 3 4 32 18 25 Tpt/Stor/Comms 17 15 12186 words
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Article121 2010-12-15 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 66,722 66,722 80,998 80,998 Manufacturing 483,772 197,035 680,807 275,890 2,793 278,683 Commerce 90,727 22,925 113,652 89,836 1,506 91,342 Tpt/Stor/Comms 87,887 1,447 89,334 145,387 373 145,761 Finance 20,573 20,573 158,646 158,646 Construction 14,909 5,735 20,644 3,972121 words
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Article111 2010-12-15 6 Stock name Close Change Stock name Close Change CapMallsAsia 1.950 -0.040 CapitaLand 3.680 +0.020 CapitaMall 1.970 +0.020 CityDev 12.960 +0.140 ComfortDelGro 1.560 +0.030 DBS Grp 14.020 +0.020 F&N 6.230 -0.050 Genting SP 2.160 -0.010 Golden Agri 0.790 +0.015 HK Land 6.880 -0.090 JMH 44.100 -0.400 JSH111 words
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Article66 2010-12-15 6 Dec 14 VALUE CLOSE BT OB/OS 446.00 +222.0 BT CADI -*****.00 +131.0 BT 10-day MA -*****.00 +44.00 FTSE ST Mid Cap 800.07 +1.40 FTSE ST Small Cap 594.33 +5.85 FTSE ST All Share 788.50 -0.34 FTSE ST China Top 294.65 +0.05 FTSE ST China 328.22 -1.25 FTSE66 words
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Article57 2010-12-15 6 VOLUME Jade Tech 178,696,000 Golden Agri 92,018,000 Genting SP 54,992,000 Gallant 52,707,000 ChinaGaoxian 50,766,000 China Hongxing 49,062,000 Oceanus 38,644,000 Li Heng 37,975,000 Sinotel Tech 34,964,000 GMG Global 34,168,000 VALUE($) Genting SP 119,474,680 CapitaLand 76,248,650 Golden Agri 72,608,325 UOB 60,606,780 DBS Grp 46,949,170 SingTel 44,832,190 Keppel Corp 36,037,20057 words
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BROKERS’ TAKE
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Article324 2010-12-15 6 Dec 14 close: $0.79 OCBC Investment Research, Dec 14 GOLDEN Agri-Resources (GAR) is likely to see further boost from the continued run-up in crude palm oil (CPO) prices over the next six months. During its recently concluded Q3 FY2010 results briefing, management revealed that it does not expect324 words
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Article242 2010-12-15 6 DBS Vickers, Dec 14 SAFEGUARD of a critical mass of CBD office space on the cards? According to media reports, the Urban Redevelopment Authority (URA) is understood to be reviewing whether a critical mass of office space should be safeguarded in the Central Business District to accommodate Singapore’s242 words
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Article464 2010-12-15 6 LYNETTE KHOO - Holdings Dec 14 close: $1.67 DMG Partners Securities, Dec 14 Compiled by LYNETTE KHOO RE-ITERATE positive view on the stock: Following our recent meeting with management, we remain bullish on Ezra. Key takeaways: (1) Two 3,600 deadweight tonne (dwt) platform supply vessels (PSVs) will join its fleet in464 words
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Article, Illustration522 2010-12-15 6 CURRENCIES spring at least,” Mr Friend said. Reuters [LONDON] The euro hit three-week highs versus the US dollar and yen in thin trade yesterday, as investors took the view that a recent rise in front-end US yields had gone too far, prompting a squeezespring at least,” Mr Friend said. – Reuters; AFP - 522 words
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Article110 2010-12-15 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 388.0 2.3 GLD 10US$ ***** 196.6 1.1 DBXT iBoxxSvEu 5US$ ***** 127.6 0.4 DBXT FTVietnam 10US$ 3737 78.1 1.6 DBXT STGLDv100 10US$ 2781 62.5 1.8 Jardine C&C 3760 58.0 1.6 DBXT FTChina25 10US$ 3185 50.8 1.2 DBXT MSTaiwan 10US$ 1926 46.9110 words
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Article112 2010-12-15 6 BY CENTS CLOSE DOWN JMH 4410 -52.1 -0.9 STXPO 100 1310 -20.0 -1.5 SGX.ES.1012 839 -19.0 -2.2 HK Land 688 -11.7 -1.3 SIA 1578 -10.0 -0.6 UOB 1800 -8.0 -0.4 OUE 337 -7.0 -2.0 Vicom 286 -7.0 -2.4 DBXT CSI300 10US$ 1078 -6.5 -0.5 Total Access 137 -5.2 -2.8112 words
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Page 7 Advertisements
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Advertisement1020 2010-12-15 7 Advertising Feature Singapore's Premier Medical Cluster Takes Shape A World-Class Healthcare Hub It has long been known as the home of Tan Took Seng Hospital, but the Novena area is now coming into its own as a full-fledged, self-sufficient medical cluster. Billions of dollars are being poured into developing state-of-the-art1,020 words
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Page 8/9 Advertisements
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Advertisement177 2010-12-15 8/9 Some dream of the future, others create it. Fascinating sportiness, innovative technology and superior comfort: the new Audi A8 represents the best of Audi engineering, technology, performance and prestige. With 32 class-leading innovations, the new Audi A8 lets you see, hear and feel what tomorrow looks like. Like the world’s177 words
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SINGAPORE NEWS
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602 2010-12-15 10 RONNIE LIM - Sumitomo Chemical, Asahi Kasei to keep Lanxess company on Jurong Island By RONNIE LIM THE seeds planted at Jurong Island for synthetic rubber have germinated. Two more investors, Sumitomo Chemical and Asahi Kasei Chemical, are setting up their latest S-SBR plants there602 words
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597 2010-12-15 10 CHUANG PECK MING - It’s fourth in their global list of places for expat staff: poll By CHUANG PECK MING EVEN as the cost of living for expatriates has shot up in Singapore, the republic remains a top location for international postings597 words
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327 2010-12-15 10 GENEVIEVE CUA - Insurer cites Asia’s increasing affluence, sophistication By GENEVIEVE CUA SPECIALIST insurer Markel International expects demand for professional liability insurance to grow in Asia, as the region gains in affluence and sophistication. Markel is one of the biggest underwriters of professional indemnity and related risks.327 words
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734 2010-12-15 11 KALPANA RASHIWALA - Offer of $123m just 0.7% above next highest; 99-year plot drew 11 bids By KALPANA RASHIWALA TUAN Sing yesterday made a rare appearance at a state tender, and that too as the top bidder. Its offer of $123 million for a 99-year leasehold734 words
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474 2010-12-15 11 UMA SHANKARI - Delayed opening means they will miss peak sales season By UMA SHANKARI THE late handover of shops on the roof level of nex, the new mall at Serangoon Central, has caused some unhappiness among tenants. At least one tenant, lifestyle furnishing474 words
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SINGAPORE ROUNDUP
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85 2010-12-15 11 AVIVA Investors Asia Pacific has announced the opening of a regional office in Singapore in response to the firm’s rapid growth in the region. The office will be located at 6 Temasek Boulevard, Suntec Tower Four, which also houses the regional offices of the firm’s85 words
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74 2010-12-15 11 FEWER Singaporeans are intending to pursue further education, according to a survey conducted by JobsCentral, one of Singapore’s largest job portals. The 7.9 per cent drop in the number of survey respondents indicating an intention to pursue further education is attributed to people’s upbeat sentiment74 words
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Advertisement459 2010-12-15 10 14 JAN 2011 (FRI) 15 JAN 2011 (SAT) 10.00 AM 5.00 PM A TWO DAY COURSE ON LOW RISK HIGH REWARD HIGH PROBABILITY TRADING COURSE STRUCTURE Would you like to learn how to identify exactly where a market is going to turn, before it turns? Would you like to learn459 words
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Advertisement76 2010-12-15 10 CHATEAU For The Discern The artisans and connoisseurs have defined Chateau wine coolers a world apart. So unique they are a redefinition on design, state-of-the-art preservation technology and precision engineering. And that means your precious reds and whites are in possibly the best hands ever. Experiencing a Chateau is an76 words
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Advertisement236 2010-12-15 11 Be 'j' n 9 Seoul Bangkok Tipur Air Astana connects Far South East Asia to Kazakhstan 13 times a week (5 times a week from Beijing, 4 times a week from Seoul, 3 times a week from Bangkok, once a week from Kuala Lumpur). Air Astana serves Kazakhstan from major236 words
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ECONOMY WATCH
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Article, Illustration381 2010-12-15 12 AP [SEOUL] South Korea’s economy could grow about 5 per cent next year amid a steady global recovery and increase in domestic demand, the government said yesterday. A possible worsening of conditions overseas, however, is a risk factor for the country thatAP - 381 words
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359 2010-12-15 12 Brazil says they will cut applied tariffs by 20% on 70% of their products Reuters [BRASILIA] Nearly a dozen developing countries, led by Brazil and India, will sign an accord this week to cut tariff barriers and boost trade among themselves, aReuters - 359 words
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377 2010-12-15 12 Bloomberg [BEIJING] World Trade Organization judges on Monday rejected China’s complaints that US tariffs on Chinese tyres for cars and light-trucks violate global trade rules. Responding to the decision, China said that it was “concerned about (the) negative impacts” from the decisionBloomberg - 377 words
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Page 12 Advertisements
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Advertisement379 2010-12-15 12 v y i i i WINE DINE AND HOSPITALITY CHRISTMAS IN THE HOUSE Pan Pacific Orchard comes alive with festive cheer and celebrations! 10 at Claymore charms your palate with Yuletide highlights featuring juicy and tender roasts including US Turkey with Herb Stiffing and Australian Wagyu Beef, fresh oceanic catch379 words
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MALAYSIA/INDONESIA
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Article, Illustration579 2010-12-15 13 PAULINE NG - Analysts fear hefty spending could dent balance sheet By PAULINE NG PROTON Holdings plans to set aside some £480 million (S$1 billion) over the next five years to reverse losses at Group Lotus plc. This figure is substantially higher than expected, and579 words
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344 2010-12-15 13 Move delayed from Jan; Parliament says Pertamina not ready Reuters [JAKARTA] Indonesia’s Parliament yesterday has approved a government proposal to stop private cars from using subsidised fuel but delayed its start, with the plan expected to add to inflation and changeReuters - 344 words
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467 2010-12-15 13 MALMINDERJIT SINGH - Latest commercial development reflects region’s investment pull By MALMINDERJIT SINGH [SINGAPORE] Medini, the flagship development of Iskandar Malaysia, has received a further boost in the form of a RM688 million (S$285 million) commercial development to highlight the growing attractiveness of the region to investors.467 words
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Page 13 Advertisements
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Advertisement505 2010-12-15 13 BROUGHT TO YOU BY CONSULTING STOLZ ENGINEERING DELIVERS SERVICE EXCELLENCE WITH PRIDE STOLZ Engineering was recently honoured with the Singapore Prestige Brand Award Promising Brand 2010, a clear testimony to a brand success rooted in service excellence in the construction industry B eing recognised as one of the Most Promising505 words
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GREATER CHINA
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Article, Illustration629 2010-12-15 14 Some analysts say markets ignoring warning signs PBOC is behind the curve Reuters [BEIJING] As global markets constantly fret whether China’s economy is overheating or heading for the deep freeze, the ruling Communist Party seems to be getting the policy balanceReuters; AP - 629 words
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496 2010-12-15 14 No Nov hike shows that central bank is not decision maker Bloomberg [HONG KONG] China’s pause in adding to October’s interest rate increase may reflect the difficulty in reaching consensus as the State Council consults with government agencies, according to Deutsche Bank economist MaBloomberg - 496 words
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344 2010-12-15 14 Reuters [BEIJING] China will probably target a limit of about 7.5 trillion yuan (S$1.47 trillion) in new loans next year, the same as this year’s target, a leading official newspaper reported yesterday, an indication that policy could be slightly looserReuters - 344 words
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Page 14 Advertisements
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Advertisement332 2010-12-15 14 WINE DINE AND HOSPITALITY 4 s, 4 =5 cA cS2 erUCdP risf. This holiday season, a mouthwatering assembly of Christmas goodies and yuletide treats adds to the festive cheer at Meritus. Celebrate the warmth of the season with a choice selection of gourmet delights like the Roasted U.S. Pigeon stuffed332 words
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INDIA
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Article, Illustration400 2010-12-15 15 Wholesale price index up 7.48% in Nov after 8.58% jump in Oct Bloomberg [NEW DELHI] India’s inflation slowed to an 11month low, giving the central bank scope this month to pause Asia’s fastest round of interest-rate increases. The benchmark whole-sale-price index rose 7.48 per centBloomberg - 400 words
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434 2010-12-15 15 AFP Reuters [NEW DELHI] Indian Prime Minister Manmohan Singh warned yesterday against the “misuse” of government phone taps, following complaints by prominent businessmen over the leak of intercepted conversations to the media. Mr Singh said that the power to tap phones wasAFP; Reuters - 434 words
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463 2010-12-15 15 AFP [NEW DELHI] India’s parliament adjourned for its winter break with no legislation passed after 22 business days, a new low for the world’s largest democracy. A total of 32 laws, including one on free and compulsory education, another to reserve aAFP - 463 words
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Page 15 Advertisements
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Advertisement134 2010-12-15 15 HG mETBL Your One Stop Steel Reliable, Quality Service Thank you for making us your pr w MM •AS •U &M3FM AM •AC •MS 12 m l l /2S^\v5 4 earn 30 Jalan Buroh Singapore *****6 Tel: 6268 2828 Fax: 6268 3838 Email: sales@hgmetal.com Website: http://www.hgmetal.com E> <t DONGKUK STEEL134 words
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Advertisement129 2010-12-15 16/17 Luxury is in the details. It's the fine details that distinguish a Phaeton. For this reason, we use a very special tool: the human hand. Only it can ensure that each of the 18,000 components which go to make up the new Phaeton receive special attention, from the hand-sewn stitches129 words
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WORLD
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Article, Illustration435 2010-12-15 18 Reuters [MOSCOW] US retail group Wal-Mart Stores Inc will close its Moscow office amid a lack of acquisition opportunities, abandoning for now its long-running quest to enter the Russian market. “Since we have decided to enter the (Russian) market through acquisition and since thereReuters; AFP - 435 words
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546 2010-12-15 18 Goal of preventing 3-4 million foreclosures has been watered down: Congress panel Bloomberg [WASHINGTON] A US Treasury programme aimed at preventing three million foreclosures is likely to fulfil less than a third of its goal, a congressional watchdog has reported. The Treasury’s homeownerBloomberg - 546 words
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Article, Illustration401 2010-12-15 18 AFP [SEOUL] South Korea’s army chief resigned yesterday, reportedly over a property investment, at a time of high tensions with North Korea following its deadly artillery attack last month. A Defence Ministry spokesman said General Hwang Eui-Don’s resignation had been acceptedAFP - 401 words
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616 2010-12-15 19 President’s readiness to compromise seen setting the pattern for rest of his term AP [WASHINGTON] US President Barack Obama’s tax deal with Republicans gained enough votes in the Senate on Monday to move towards final passage as the White House charts an untestedAP - 616 words
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Article, Illustration303 2010-12-15 19 AFP [SYDNEY] Australia faces a slow-down in exports of A$3.8 billion due to flooding of grain harvests and lower-than-expected shipments of coal, iron ore and gold, an official forecaster said yesterday. The Australian Bureau of Agricultural and Resource Economics and Science (ABARES) said it hadAFP; BLOOMBERG - 303 words
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Article, Illustration394 2010-12-15 19 NYT [NEW YORK] Richard Holbrooke, the Obama administration’s special representative for Afghanistan and Pakistan since 2009 and a diplomatic troubleshooter in Asia, Europe and the Middle East who worked for every Democratic president since the late 1960s, died on Monday evening in Washington.NYT; REUTERS - 394 words
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Article, Illustration537 2010-12-15 20 Purchases up 0.8% as holiday shopping begins; spending seen improving LATEST US DATA Bloomberg AP [WASHINGTON] Sales at US retailers rose more than forecast in November as holiday shopping got under way, a sign consumers will play a bigger role in the recovery.Bloomberg; AP; AFP - 537 words
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Article, Illustration495 2010-12-15 20 Reuters [PARIS] French President Nicolas Sarkozy said on Monday that his G-20 agenda to reform the international monetary system would look at widening the role of the IMF’s Special Drawing Rights and tackling international capital flows. France, which took overReuters - 495 words
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564 2010-12-15 20 LYNN KAN - The problem is not one of liquidity but of solvency By LYNN KAN [SINGAPORE] The risk of insolvency spreading in the eurozone is still in the air, despite the best efforts of the European Central Bank to calm fears with a 440564 words
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470 2010-12-15 20 Bloomberg [WASHINGTON] The internal split between Republicans and Democrats on the congressionally appointed commission investigating the 2008 financial crisis is about to break into the open. Republican members of the Financial Crisis Inquiry Commission are planning to register a public protest against aBloomberg - 470 words
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Page 18 Advertisements
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Advertisement394 2010-12-15 18 Businessman of the Year Award Outstanding Chief Executive Award Presented to the chief executive who has made an outstanding contribution to his or her company's financial performance and growth. DRIVEN- TO"GH COOKIE. Nyw. INNOVATE GLOBAL LOOKIH ;Ar™ AT0R LEADER MET 'C S Presented to the most deserving individual for outstanding394 words
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Advertisement21 2010-12-15 18 OpulentjPenthouse Dray&ott Park Rarel5fe00CTeeHSkv Villa Exclusively yours $25k^mJ)Tith mm JERRY LUM Snr Marketing Director, MBA, CES HP: 8288 0098 View: jerrylum.myweb.sg21 words
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Page 19 Advertisements
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Advertisement198 2010-12-15 19 There Are Some Things In Life For Which You'll Never Compromise Your health is clearly one of them, and we understand. That's why Paragon Medical is home to a total of over 60 medical specialists, ensuring you get the best of care to stay in perfect health. MEDICAL SERVICES: Aesthetics/Cosmetic198 words
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Advertisement1219 2010-12-15 20 Win an 8D/6N Tokyo TP setravellers.c^m -J the ultimate travel resource bu SPH adv Asian Micro Holdings Limited (Company Registration Number:*****1052K) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING All capitalised terms in this notice which are not defined herein shall have the same meanings ascribed to1,219 words
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Transport HUB
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Article, Illustration904 2010-12-15 21 DAVID HUGHES - Seafarers appreciate Singapore’s efforts in making them feel valued STRAIT TALK By DAVID HUGHES A COUPLE of weeks ago, Singapore received an accolade which may not have received a lot of attention outside the shipping industry. Nevertheless, being a joint winner (along with Barcelona) of this904 words
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784 2010-12-15 21 Bloomberg [SINGAPORE] Chinese banks, avoiding dollar-de-nominated loans as the yuan appreciates, are scaling back funding to shipyards and vessel owners two years after the government told them to boost their commitment to the industry. As credit extended to companies building, servicingBloomberg - 784 words
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TRANSPORT HUB: AVIATION
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Article, Illustration707 2010-12-15 22 It predicts demand for 26,000 aircraft in next 20 years, up from 2009 estimate AP [COLOMIERS, France] The international aircraft industry will recover faster than expected, European manufacturer Airbus said on Monday, predicting a need for about US$3.2 trillion in new passenger andAP; REUTERS - 707 words
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Article3252 2010-12-15 22 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi KU6457 1230 SQ456 1245 SQ457 1230 EY470 2200 VA7470 2200 Adelaide LH9771 1745 9W4082 2220 SQ278 1745 AF8088 2220 VS7278 1745 BA7382 2220 JL5083 2220 MU8214 2220 QF82 2220 LH9770 2350 SQ279 2350 VS7279 2350 Ahmedabad NH6293 0710 SQ5313,252 words
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Article, Illustration431 2010-12-15 22 Bloomberg [BANGKOK] Thai Airways International Pcl, Thailand’s largest carrier, said that economy-class bookings are lagging behind corporate travel because deadly anti-government riots in April triggered a cancelling of conferences. “Once they cancel, those bookings disappear for more than a year,” president Piyasvasti AmranandBloomberg - 431 words
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413 2010-12-15 22 It also aims to add flights to Tokyo, Seoul, Taipei, Paris Bloomberg [HONG KONG] Jet Airways (India) Ltd, the nation’s biggest domestic airline, plans to resume direct flights between India and China next year to meet rising demand for travel betweenBloomberg - 413 words
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395 2010-12-15 22 Bloomberg [QUEENSTOWN, New Zealand] Air New Zealand says it’s in talks to sell its lie-flat economy-class seat technology to other carriers ahead of the delivery of the first plane fitted with the new units. The carrier is “hopeful” it will be ableBloomberg - 395 words
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TRANSPORT HUB: LAND
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Article, Illustration405 2010-12-15 23 SAMUEL EE - Tyrepac to tap operational experience of new parent Delticom By SAMUEL EE MORE than 50 per cent of Singapore-based tyre portal Tyrepac has been acquired by Delticom, Europe’s leading online tyre retailer. Both companies declined to disclose the amount paid but saidFILE PHOTO - 405 words
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223 2010-12-15 23 Bernama [KULIM, Malaysia] BMW Group Malaysia plans to increase its production by 45 per cent to over 4,000 units next year, with the launch of its locally assembled BMW X1. Managing director Geoffrey Briscoe said that BMW produced less than 3,000Bernama - 223 words
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Article, Illustration647 2010-12-15 23 Reuters [TOKYO] Fuji Heavy Industries Ltd is still aiming for an operating profit of 80 billion yen (S$1.25 billion) as originally planned four years ago, instead of the 70 billion yen officially forecast for this year, its chief executive said. Fuji Heavy,Reuters; REUTERS - 647 words
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380 2010-12-15 23 Customers urged to go to authorised dealers and buy only its branded parts Bernama [KUALA LUMPUR] Owners of Proton cars have been advised not to buy and use imitation spare parts that are being passed off as genuine components in the market. “These partsBernama - 380 words
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525 2010-12-15 23 Bloomberg [BEIJING] The city of Beijing, ranked as having the world’s worst traffic, has proposed offering public bicycles, building tunnels and possibly imposing fees for driving in parts of the Chinese capital to ease congested roads. Other proposals that Beijing’s municipal governmentBloomberg - 525 words
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Page 21 Advertisements
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Advertisement277 2010-12-15 21 SEA CONSORTIUM PTE LTD NOTICE TO TRADE RATE RESTORATION A Rate Restoration will be implemented on 22nd December 2010. Please be advised that the following minimum rates will apply for all SOC shipments between Taiwan and Philippines with effect from 22nd December 2010. All rates indicated are subjected to prevailing277 words
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Page 22 Miscellaneous
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Miscellaneous299 2010-12-15 22 CRYPTIC CROSSWORD Across 1, 12 13 Commit to a naval plan? (4,4,7,2,3,4) 9 Euros he used to provide a new home (7) 10 Donor at dance creating a storm (7) 11 Tramp from house to box office (4) 12 See 1 Across 13 See 1 Across 16 Take it out299 words
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Page 23 Advertisements
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Advertisement11 2010-12-15 23 GET THE FREE 9I.3FM APP NOW! Available on the App Store11 words
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EDITORIAL & OPINION
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471 2010-12-15 24 EDITORIAL CHINA’S latest inflation figures have given rise to fresh concerns about not only mounting price pressures in a runaway economy but also the spectre of a broader economic meltdown, with repercussions beyond Asia, if various domestic risks come to a head. At 5.1471 words
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Article, Illustration757 2010-12-15 24 LEON HADAR - THE BOTTOM LINE LEON HADAR Washington Correspondent REPUBLICAN and conservative critics of the economic policies pursued by the White House (government spending) and the Federal Reserve (printing money) had hoped that the electoral blow suffered by the Democrats in the recent mid-term757 words
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Article, Illustration1073 2010-12-15 24 TAN CHORH CHUAN - There exist unique opportunities to deliver healthcare much more effectively in new ways TAN CHORH CHUAN The writer is the president of the National University of Singapore. This article is based on a speech by Prof Tan at the inaugural NUS InitiativeREUTERS - 1,073 words
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Article, Illustration1714 2010-12-15 25 ROGER C ALTMAN, RICHARD N HAASS - If a solution is forced on it, then the appeal of democracy and market-based capitalism will take a further blow By RICHARD ROGER C ALTMAN, RICHARD N HAASS IT makes a big difference whether the new fiscal rectitude in the United StatesAP - 1,714 words
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Article, Illustration922 2010-12-15 25 MATTHEW LYNN - MATTHEW LYNN The writer is a Bloomberg News columnist and the author of “Bust”, a forthcoming book on the Greek debt crisis. The opinions expressed are his own TAKE one more longing look at that new Ferrari, and one more peek at that922 words
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455 2010-12-15 25 V Navaratnam - LETTERS TO THE EDITOR V Navaratnam THE recent fraud detected at the Singapore Land Authority (SLA) provides an opportunity to the authorities to examine the effectiveness of internal control systems operating in the statutory boards and government departments. An effective455 words
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366 2010-12-15 25 Mano Sabnani - Mano Sabnani FINANCIAL One, a mainboard-listed company, announced on Nov 18 that its major shareholder, Andre Koo, was “contemplating” a buyout of all the other shareholders with a view to delist the company. Trading of the shares have been suspended366 words
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SINGAPORE STOCKS
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Article9052 2010-12-15 26 Transaction date: Dec 14 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 +0.5 340 18 18 17.5 18 1.7 10.1 5.8 86.2 12 4.5 58349,052 words
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Article1827 2010-12-15 27 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 5 4 5 27.8 4.8 225 130 6222 t APStrategic 160 -5 13 163 160 1571,827 words
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Article9437 2010-12-15 27 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.32/ APS Alpha Fund (USD)!** 1.01/ APS Alpha Fund Cl B SGD!** 1.2/ APS Alpha Fund Cl B USD!** 0.89/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM9,437 words
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Article844 2010-12-15 27 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 $mil 124 107 6389 ABF SG Bond ETF 110 -1 27 110 108 110 112 502.1 1056 761 CIMBAsean40 100US$ US1012 -3 4 1012 1012844 words
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Article73 2010-12-15 27 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 $mil 56 38 6000 AVJennings A46.5 48.5 51 3.6 7.5 3.7 121.1 55 16 6017 Genting HK US$ US44.5 -0.5 7182 45 44.5 44.5 45 2930.173 words
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Advertisement66 2010-12-15 26 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) 627866 words
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FINANCE & COMMODITIES
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374 2010-12-15 28 In local curr In S$ In US$ dy yr dy yr dy yr Dec 13 Index Change Change Change Change Change Change World Index Preliminary 894.3 0.5 7.4 0.7 0.9 0.9 8.5 EAFE Preliminary 804.3 0.6 2.5 1.2 -3.2 1.4 4.1 Europe Preliminary 1175.2 0.6374 words
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Article180 2010-12-15 28 Dec 14 $S Offer Bid 0vernight 0.01 PAR 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.09 US$ Offer Bid 7 days 0.35 0.25 1 month 0.40 0.30 2 months 0.43 0.33 3 months 0.46 0.36 6 months 0.56 0.46 9 months 0.80 0.60 12180 words
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Article22 2010-12-15 28 Dec 14 S$ Bid Offer 1-month 1.3019 1.3022 2-months 1.3019 1.3022 3-months 1.3019 1.3022 6-months 1.3019 1.3023 Source: OCBC22 words
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Article141 2010-12-15 28 Dec 14 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 11 470.0 469.0 469.0 12 Feb 11 469.5 469.0 469.0 44 Mar 11 469.0 Apr 11 470.0 May 11 470.0 Jun 11 470.0 Jul 11 469.0 Aug 11141 words
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Article90 2010-12-15 28 Dec 14 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 17.03.2011 0.36 0.32 0.32 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 103.68 103.74 103.72 5-Year N*****0S 2.875 01.07.2015 106.7690 words
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Article107 2010-12-15 28 Dec 13 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1302.50 1273.00 1304.75 1257.00 Mar 11 1312.00 1282.50 1314.25 1269.00 May 11 1316.50 1287.00 1318.25 1273.50 Jul 11 1318.25 1288.50 1320.00 1275.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 10 55.10107 words
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Article77 2010-12-15 28 CRUDE OIL PRODUCTS Dec 13 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 91.32 0.88 WTI (Near Mth) 88.47 0.77 Dubai (1-Mth F) 88.58 0.12 Tapis blend 95.45 0.05 Minas 91.30 0.05 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 92.25 -0.47 Jet Kerosene 102.85 -0.65 US$/barrel Opec Oil77 words
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2331 2010-12-15 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 1.5 unch 776 1 3 -10 3.33 0 AFP Properties EW*****8 33 unch 590 1 10 -5 1.38 59 6221 Asia-Pacific Strat W*****6 37 12,331 words
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Article121 2010-12-15 28 Dec 14 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.339 1.264 Can dollar 1.317 1.267 Euro 1.777 1.709 Sterling pound 2.104 2.024 NZ dollar 1.006 0.959 US dollar 1.324 1.274 Local dollars to 100 units of foreign121 words
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Article27 2010-12-15 28 Dec 14 Open High Sett STI Dec 3171 SIMSCI Dec 374.5 376.5 373.9 Taiwan Dec 311.0 312.9 310.6 Source: MF Global (S) Pte. Ltd27 words
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Article67 2010-12-15 28 Dec 14 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 10 3650 1046 Jan 11 3790 3720 3806 3709 2066 9356 Feb 11 3737 3680 3766 3680 ***** ***** Mar 11 3677 3620 3700 3603 7646 *****67 words
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Article424 2010-12-15 28 Dec 14 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar11 99.5900 0 5371 Jun11 99.4550 0 2079 Sep11 99.3200 0 715 Dec11 99.1650 0 265 EUROYEN TIBOR FUTURES Mar11 99.6450 99.6450 99.6450 99.6450 195 2021 Jun11 99.6150 99.6150 99.6150 99.6150 0 1363 Sep11 99.6000 99.6000 99.6000424 words
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Article464 2010-12-15 28 Dec 14 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.003 6.630 0.741 7.748 44.820 89.764 0.831 11.375 3.118 1.324 85.524 43.644 1.298 6.799 0.962 29.784 29.921 0.627 0.997 Canada 0.997 6.613464 words
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Article85 2010-12-15 28 Dec 14 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths85 words
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Article139 2010-12-15 28 Dec 14 GOLD (US$/oz) Dec 13 Dec 14 Hong Kong 1391.50 1405.10 Dec 10 Dec 13 London 1378.60 1395.00 1379.35 1395.70 Source: Thomson Reuters CAST BAR Dec 14 (S$) Selling Buying Kilobar 63,028.35 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 141 59 5gm 401 294 10gm 716139 words
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Article69 2010-12-15 28 Dec 13 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2311.50 2292.05 3 months 2331.00 2308.00 Copper, Grade A (US$/tonne) Cash 9295.00 9033.00 3 months 9225.00 8990.00 Lead (US$/tonne) Cash 2422.00 2375.00 3 months 2440.00 2390.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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Article154 2010-12-15 28 Dec 14 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2971 1.2980 0.9963 0.9968 Canadian dollar 1.2936 1.2948 0.9936 0.9943 Euro 1.7512 1.7524 1.3451 1.3457 NZ dollar 0.9799 0.9804 0.7527 0.7529 Sterling pound 2.0678 2.0689 1.5883 1.5888154 words
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Article82 2010-12-15 28 Dec 13 COCOA (£/tonne) Close Prev High/Low Dec 10 1900 1899 1923/1884 Mar 11 1899 unch 1928/1885 May 11 1915 unch 1943/1902 Jul 11 1931 1932 1959/1920 COFFEE (US$/tonne) Close Pev High/Low Jan 11 1946 1921 1956/1905 Mar 11 1934 1908 1946/1885 May 11 1947 1922 1960/1897 Jul 1182 words
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5826 2010-12-15 29 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 DING XIANG HAI Camden/New Orleans/Tampico *Loads5,826 words
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Page 29 Advertisements
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Advertisement6 2010-12-15 29 Shipping lines seeking reliable loaistiss partners6 words
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Advertisement28 2010-12-15 30 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 132728 words
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executive Money
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Article, Illustration1049 2010-12-15 31 GENEVIEVE CUA - Overall outlook for markets is fairly sanguine, even if Asian banks tighten monetary policies during the year, reports GENEVIEVE CUA GENEVIEVE CUA 2010 has been a worrisome year, as Chinese restrictions on bank lending and a snowballing European debt crisis dampened asset values. But,AFP - 1,049 words
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Article, Illustration1458 2010-12-15 31 MICHAEL PREISS - MONEY MATTERS MICHAEL PREISS The writer is chief equity strategist at Standard Chartered Bank AS we approach 2011, the global macro economic environment has stabilised. While the biggest immediate worry in the West is a double-dip, we do not think it will happen. Meanwhile, the1,458 words
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Article, Illustration1292 2010-12-15 32 Do research before investing; and beware, the swindlers could be even your friends and relatives NYT PONZI schemes are in the news again. The US Justice Department announced last week that it had brought criminal and civil cases against more thanNYT; REUTERS, AFP - 1,292 words
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Advertisement16 2010-12-15 31 ft -S- t$L Lianhe Zaobao Creative's new strategy To subscribe, call 6388-3838 or go to sphsubscription.com.sg16 words
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Advertisement233 2010-12-15 32 A STAR ALLIANCE MEMBER v^> #3 THAI f ANNIVERSARY 1960-2010 i Exclusive all-in MasterCard® Fares from: FIRST CLASS *5653 Royal First. Royal Silk. Majestic in Every Way. Bangkok Johannesburg Europe 4 V Los Angeles Frankfurt, London, Madrid, Milan Munich, Paris, Rome, Zurich BUSINESS CLASS *4148 Los Angeles *3848 v\\> Athens,233 words
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