The Business Times, 22 December 2010
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2010-12-22
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The Business Times
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Title Section23 2010-12-22 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, December 22,201023 words
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Article, Illustration719 2010-12-22 1 [SINGAPORE] Beckkett Pte Ltd, controlled by Indonesian tycoons Sukanto Tanoto and Hashim Djojohadikusumo, has been criticised by Singapore’s highest court as having “contemptuous disregard for our judicial process”, over its decision to pursue a parallel legal action in Indonesia to one719 words
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Article141 2010-12-22 1 GST INDEX 3,139.85 (+6.89) GST INDEX FUTURES 3,140 (+13) GSIMSCI 371.10 (+1.18) GSIMSCI FUTURES 371.70 (+2.60) FOREX US$ S$ US$ (S$ per US$) 1.315 (US$/S$ per 1.556 2.046 EURO (US$/S$/E) 1.319 1.734 Foreign currency per US$ S$ YEN 83.70 63.70 RM 3.134 2.383 HK$ 7.774 5.913 BAHT 30.16141 words
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580 2010-12-22 1 RONNIE LIM - Consortium led by Hin Leong Trading looking to invest in US$6-8b greenfield project By RONNIE LIM [SINGAPORE] The Republic could soon see its longawaited, fourth world-scale refinery. Expected to cost a massive US$6-8 billion, the planned greenfield project will help boost the status580 words
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Advertisement141 2010-12-22 1 AVIATION Garuda eyes US$400m IPO PAGE 18 OPINION Voodoo economics revisited COE PREMIUMS Shell-shocked distributors await today’s bidding PAGE 2 TRANSPORT HUB BMW Asia boss goes home to Germany PAGE 19 PAGE 20 EXECUTIVE MONEY Getting investors sold on gold PAGE 27 Liquidity tug-of war PAGE 28 The bland BRIC-a-brac141 words
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TOP STORIES
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Article486 2010-12-22 2 Fourth refinery to oil Singapore’s hub status SINGAPORE could soon see its long-awaited, fourth world-scale refinery. Expected to cost a massive US$6-8 billion, the planned greenfield project will help boost the status of the global oil refining and trading hub here. A consortium led by the biggest local486 words
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690 2010-12-22 2 SAMUEL EE - They expect rivals to bid strongly; not all dealers are afraid of higher premiums By SAMUEL EE [SINGAPORE] COE premiums should stay flat or rise slightly in today’s final tender for the year, say some shell-shocked motor distributors, who expect a couple of their690 words
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720 2010-12-22 2 Reuters AFP [LONDON] Snow and freezing temperatures grounded flights across northern Europe yesterday, while retailers fretted they would struggle to make up sales lost due to bad weather with just four shopping days to Christmas. Eurocontrol, the umbrella group for air-trafficReuters; AFP - 720 words
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Article56 2010-12-22 2 In yesterday’s article “Office vacancies in CBD to rise on a short-term blip”, we listed Clifford Chance as among three tenants expected to move out of One George Street to Asia Square. That was incorrect. Clifford Chance will, in fact, be moving to Marina Bay Financial Centre Tower 3.56 words
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471 2010-12-22 3 PAULINE NG - Under MOU, M’sian contractors could be involved in building roads linking cities By PAULINE PAULINE NG THE governments of Malaysia and India yesterday formalised a memorandum of understanding on highway development which is expected to give Malaysian construction companies a leg-up471 words
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478 2010-12-22 3 MICHELLE QUAH - M&A to grow next year: Ernst Young By MICHELLE QUAH [SINGAPORE] Ernst Young (EY) believes mergers and acquisitions (M&A) activity will burgeon next year, if confidence about the nascent global economic recovery returns. EY noted that the global M&A deal volume was up 3 per cent so far this year,478 words
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609 2010-12-22 3 NEIL BEHRMANN - By NEIL BEHRMANN DESPITE fears of a growing bubble, especially in China, Asian stock markets have beaten their Western counterparts by a wide margin. The only developed markets to reach double figures were Canada, the US and Japan. The performance in the table (right)609 words
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Page 2 Advertisements
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Advertisement163 2010-12-22 2 riICTQ to sweeten the vJir i o season rom now till 31 st December 2010 or while stock lasts. Bose® Lifestyle® 48 SIV Home Entertainment Systei FESTIVE OFFER $7,699* Bose® Lifestyle® 18 Sill Home Entertainment System Usual: $3,599 FESTIVE OFFER $2,999 (You save $600) B_ Single Cubes Bose® 3*2*1 Series163 words
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Advertisement9 2010-12-22 2 Eurostar passengers hit as snow delays trains, Page 199 words
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Advertisement129 2010-12-22 3 Its impeccable and subtle styling is a testament of your refined taste. It welcomes you into the Bentley world of handcraftsmanship where magnificent comfort meets sheer exhilaration with its breathtaking performance. Created to keep you exclusively in command, the Continental Flying Spur quietly ensures effortless control and finesse with an129 words
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COMPANY NEWS
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468 2010-12-22 4 FELDA CHAY - Analysts raise price targets, betting purchases will boost group’s earnings By FELDA CHAY NOBLE Group’s confirmation that it is acquiring two sugarcane mills in Brazil sent its shares soaring yesterday, though it ended with pared gains on profit taking. Analysts have upped their468 words
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196 2010-12-22 4 HENGXIN Technology has priced the shares for its Hong Kong dual primary listing at HK$2.25 per share (S$0.38 per share). This represents a discount of 7.95 per cent to the weighted average price for trades done for five full market days during which the196 words
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Article, Illustration417 2010-12-22 4 KAREN NG - By KAREN NG HONG Leong Finance (HLF), the largest finance company in Singapore, is stepping up its offerings to small and medium enterprises (SMEs). In just a few months, the firm has opened two SME centres and another two are on the cards417 words
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COMPANY BRIEFS
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66 2010-12-22 4 TECHNICS Oil Gas has received approval from the Taiwan Central Bank and in-principle approval from the GreTai Securities Market of Taiwan (GTSM) to trade Taiwan Depository Receipts (TDR) on the GTSM. The company will proceed to make its application to the Taiwan66 words
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106 2010-12-22 4 OLAM International is giving NZ Farming Systems Uruguay (NZS) of which Olam is the controlling shareholder a short-term shareholder loan of up to US$50 million. The funds will go towards capital expenditure requirements, working capital and repaying debts. The loan carries106 words
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100 2010-12-22 4 DJR International has received valid acceptances representing 68.25 per cent in Eastern Asia Technology at the close of its exit offer on Dec 21 at 5.30pm. DJR had previously made an offer to take Eastern Asia private with an offer price of $0.138 per100 words
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Article, Illustration473 2010-12-22 4 LYNETTE KHOO - First-day poor showing seen as ‘selling on news’ By LYNETTE KHOO CHINA Animal Healthcare received a muted response from Hong Kong investors in its dual-listing trading debut yesterday. After a HK$2.50 opening and an intraday high of HK$2.70, shares in the companyFILE PHOTO - 473 words
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Article331 2010-12-22 4 LINETTE LIM - By LINETTE LIM IPC Corporation has bought a 208-room business hotel in Okayama, Japan for 711 million yen (S$11.2 million). The company which is 18.2 per cent owned by Oei Hong Leong said the purchase was funded by internal resources. The hotel is leased with331 words
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352 2010-12-22 4 JOYCE HOOI - By JOYCE HOOI LOCAL rigbuilders have extra reason to cheer during the yuletide season, with rig orders picking up in Q4 and possibly spilling over into the new year. “Recovery in new rig orders, evidenced since Q4 2010, should sustain its momentum on the352 words
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Article, Illustration493 2010-12-22 7 EMILYN YAP - At least 6 issues said to be in the pipeline, with potential sizes of $500m to $1 b By EMILYN YAP THE tide of real estate investment trust (Reit) listings could surge more strongly next year, with at least six initial public493 words
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355 2010-12-22 7 UMA SHANKARI - It will develop real estate and hotels with two partners By UMA SHANKARI WILMAR International will invest some 889 million yuan ($175.6 million) to develop three residential, commercial and hotel sites in Yingkou City, China. The agribusiness group yesterday said that it has355 words
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239 2010-12-22 7 TT INTERNATIONAL’S debt restructuring scheme will be unaffected by Boustead Singapore’s decision not to proceed with a proposed $150 million investment in its stalled warehouse-and-retail project. “(TT International) and its scheme creditors will continue to be bound by the scheme,” TT International239 words
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382 2010-12-22 7 TEH SHI NING - By TEH SHI NING ANOTHER proposed deal of United Fiber System (UniFiber) a joint-venture (JV) construction contract for a social housing project in Libya estimated to be worth up to $1.2 billion has fallen through. This comes just weeks after UniFiber announced382 words
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719 2010-12-22 7 VEN SREENIVASAN - HOCK LOCK SIEW By VEN SREENIVASAN TUAN Sing Holdings, a relatively low-profile diversified property group controlled by the Liem family, seems to be stirring of late. The group, which owns prime commercial property assets in the heart of the city and two 5-star hotels719 words
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Page 4 Advertisements
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Advertisement746 2010-12-22 4 WAT3 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF LIM WAI MIN SONS (PTE.) LTD. (Co Registration No. *****0730W) (Incorporated in Singapore) (In Members'Voluntary Liquidation) NOTICE OF RESOLUTION At an Extraordinary General Meeting of Lim Wai Min Sons (Pte.) Ltd., duly held at746 words
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Advertisement239 2010-12-22 4 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF SOMA ASIA PTE LTD (IN CREDITORS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****1467W NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD ON THE239 words
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Page 5 Advertisements
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Advertisement174 2010-12-22 5 > Msr-i 4- I N A Golden Opportunity In KL's Golden Triangle 4* /0 t V. sr V J* ummer Suites starting from RM328,000. SUMMER SUITES MENARA SOLARIS KUALA LUMPUR Our highly anticipated SoHo development in the heart of Kuala Lumpur is open for registration. Located off Jalan Sultan Ismail,174 words
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SINGAPORE MARKETS
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Article, Illustration582 2010-12-22 6 R SIVANITHY - Quiet session sees ST Index rising 6.9 points probably on short-covering STOCKS R SIVANITHY Senior Correspondent THE holiday season is clearly upon us, at least judging by yesterday’s tepid session in the local stock market. Granted, the Straits Times Index (STI) finished 6.89 points higherSource: Bloomberg - 582 words
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Article66 2010-12-22 6 Dec 21 VALUE CLOSE BT OB/OS -15.00 +26.00 BT CADI -*****.00 +82.00 BT 10-day MA -*****.00 -2.00 FTSE ST Mid Cap 791.27 +4.67 FTSE ST Small Cap 586.78 +2.42 FTSE ST All Share 779.33 +2.26 FTSE ST China Top 293.69 +1.91 FTSE ST China 326.02 +0.43 FTSE66 words
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Article186 2010-12-22 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 6 2 0 0 0 7 6 2 Manufacturing 68 38 66 2 6 11 70 44 77 Commerce 21 16 20 5 3 4 26 19 24 Tpt/Stor/Comms 16 14 9186 words
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BROKERS’ TAKE
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Article, Illustration310 2010-12-22 6 Dec 21 close: $2.81 Phillip Securities Research, Dec 21 SATS announced that they had completed the acquisition of Japan Airlines International Co’s 50.7 per cent stake in TFK Corp. Although the acquisition is for a 50.7 per cent stake in TFK, SATS effectively has voting rights of 53.8 per310 words
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Article575 2010-12-22 6 JOYCE HOOI - Fishery Group Dec 21 close: $2.30 CIMB Research, Dec 21 Compiled by JOYCE HOOI WE ARE positive on China Fishery Group’s (CFG) dual-listing plans as we believe that proceeds are likely to be used for earnings-accretive acquisitions/expansion, while increased liquidity is likely to lead to a stock575 words
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Article121 2010-12-22 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,968 21,968 44,655 44,655 Manufacturing 259,348 7,152 266,500 176,190 623 176,813 Commerce 61,797 8,580 70,377 105,091 786 105,878 Tpt/Stor/Comms 53,420 1,152 54,572 112,673 410 113,083 Finance 24,414 24,414 111,404 111,404 Construction 6,146 1,521 7,667 1,815121 words
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Article113 2010-12-22 6 Stock name Close Change CapMallsAsia 1.860 -0.010 CapitaLand 3.650 +0.020 CapitaMall 1.870 +0.020 CityDev 12.740 ComfortDelGro 1.550 +0.010 DBS Grp 14.240 -0.060 F&N 6.250 +0.120 Genting SP 2.110 +0.030 Golden Agri 0.765 +0.010 HK Land 6.810 +0.030 JMH 43.280 -0.080 JSH 25.820 -0.180 Jardine C&C 35.580113 words
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Article, Illustration481 2010-12-22 6 CURRENCIES Reuters [NEW YORK] The euro rose yesterday after China urged that tough talk from European leaders on the debt crisis be backed up with action, but the gains were likely to be short-lived amid fears of more ratings downgrades. Analysts still expect the euroReuters; BLOOMBERG - 481 words
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Article57 2010-12-22 6 VOLUME Genting SP 45,794,000 ChinaAniH 42,576,000 Noble Grp 28,435,000 ChinaFibreT 27,823,000 China Hongxing 20,462,000 GMG Global 20,355,000 Golden Agri 17,380,000 Pac Andes 16,384,000 RafflesEdu 14,573,000 Consciencefood 14,080,000 VALUE($) Genting SP 96,911,860 Noble Grp 59,198,930 SingTel 33,854,040 UOB 32,953,000 DBS Grp 31,000,460 SIA 26,169,880 Keppel Corp 25,406,995 SGX57 words
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Article110 2010-12-22 6 BY CENTS CLOSE UP IS S&P500 ***** 152.5 0.9 DBXT Nifty 10US$ ***** 123.6 0.7 DBXT SPASX200 10US$ 3424 89.4 2.0 DBXT MSINDO 10us$ 1375 44.7 2.5 Lyxor China H 10US$ 1626 34.2 1.6 DBXT MSKorea 10US$ 5710 28.9 0.4 GLD 10US$ ***** 26.3 0.1 DairyFarm 857 21.0 1.9110 words
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Article120 2010-12-22 6 BY CENTS CLOSE DOWN DBXT MSAsExJp 10US$ 3213 -84.1 -2.0 DBXT S&P Short 10US$ 4542 -53.9 -0.9 Great Eastern 1526 -24.0 -1.5 JSH 2582 -23.7 -0.7 DBXT MSTHAI 10US$ 1563 -19.7 -1.0 IS MSCI Spore 1323 -13.2 -0.8 JMH 4328 -10.5 -0.2 Tee W*****8 12 -10.0 -45.5 Isetan 345120 words
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Page 7 Advertisements
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Advertisement198 2010-12-22 7 Man Investments (Singapore) Pte Ltd ISIN-CODE NAME NAV DATE LU********** Man AHL Trend SGD Share SGD 99,56 13.12.10 Hot IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. a j "XB WINE DINE AND HOSPITALITY M J /J V198 words
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SINGAPORE NEWS
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Article, Illustration628 2010-12-22 8 KALPANA RASHIWALA - Average cap value of prime resale freehold landed homes up 5.1% in Q4 By KALPANA RASHIWALA AVERAGE cap values of landed homes in Singapore have risen at a faster clip than those of private apartments/condos in the fourth quarter as wellSource: Thomson Reuters - 628 words
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377 2010-12-22 8 RONNIE LIM - By RONNIE LIM WASTE recycling firm NewEarth Singapore (NES) which counts mainboardlisted Beng Kuang Marine and Tuas Power among its partners broke ground yesterday on its new $15 million waste re-utilisa-tion plant at Tuas. The facility will transform industrial waste into environmentally-safe construction377 words
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Article, Illustration458 2010-12-22 8 CONRAD TAN - Region’s integration big lure for investors: Credit Suisse banker By CONRAD TAN THE increasing integration of South-east Asia as an economic unit will lure more foreign investors targeting firms in the region for takeovers, a senior Credit Suisse investment banker said this week.458 words
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256 2010-12-22 8 TAN SI RUI - Sales of household appliances jump exponentially: survey By TAN SI RUI THE surge in spending power of Asian consumers due to the economic recovery has boosted many industries, including sales in the major household appliances sector, a survey showed. The sector has managed256 words
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348 2010-12-22 8 It suggests a threepronged approach to improve safety SPORTS safety in schools is “largely sound” and in accordance with international practices, according to findings released by a special committee after a seven-month-long review. The Committee on Safety in School Sports348 words
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SINGAPORE ROUNDUP
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79 2010-12-22 8 SIN Cheong Building, a six-storey light industrial building at 47 Jalan Pemimpin has been put up for sale by tender at an indicative price of between $32 million and $36 million. The building sits on 44,001 square feet of freehold land and is located79 words
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71 2010-12-22 8 THE Singapore Furniture Industries Council (SFIC) will lead a Singapore contingent to the IMM Cologne 2011 Fair. It will be held during Jan 18-23 next year. The Singapore contingent will occupy 2,100 square metres of exhibition space, and hopes to outdo 2009’s on-spot orderbook71 words
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Page 8 Advertisements
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Advertisement16 2010-12-22 8 IT'S HERE! 913FM B2E*«MC P GET THE FREE 9I.3FM APP NOW! Available on the App Store16 words
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Advertisement20 2010-12-22 8 CHARTING DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. B8AIS NOTICES20 words
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ECONOMY WATCH
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507 2010-12-22 9 Difference between 10- and 30-year yields shrinks to 105 basis points Bloomberg [NEW YORK] Government bonds are falling the most in a year as the gap between yields on longerterm Treasuries show that the Federal Reserve’s second round of quantitative easing may beBloomberg - 507 words
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Article, Illustration619 2010-12-22 9 Reuters [SYDNEY] Australia’s biggest mining companies may have won a long-run-ning battle yesterday with Prime Minister Julia Gillard after an influential tax panel recommended that the government pick up future state royalty payments under its mine tax reform package. The recommendation was oneReuters; REUTERS - 619 words
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342 2010-12-22 9 Reuters [BERLIN] German consumer sentiment is set to sink early in the new year, according to a survey which bucks growing expectations for a revival in household spending to ease the economy’s dependence on export-led growth. The forward-looking survey of about 2,000 Germans byReuters - 342 words
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406 2010-12-22 9 Reuters [BEIJING] China urged European authorities yesterday to back their tough talk with action by showing they can contain the eurozone’s simmering debt problems and pull the bloc out of its crisis soon. China, which has invested an undisclosed portion of its US$2.65Reuters - 406 words
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488 2010-12-22 9 ANTHONY ROWLEY - By ANTHONY ROWLEY BANK of Japan governor Masaaki Shirakawa signalled yesterday that Japan’s long-term interest rates will be closely watched as the climb in bond yields posed risks to the country’s expansion. It will also be “steadily” providing liquidity to support demand.488 words
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Article, Illustration436 2010-12-22 9 AFP [RIYADH] Higher salaries and huge infrastructure projects sent Saudi spending soaring in 2010 but high crude prices ensured a solid 17 per cent surplus for the oil giant, the Finance Ministry said on Monday. The government scored a 108.5 billion riyalAFP; REUTERS - 436 words
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MALAYSIA/INDONESIA
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Article, Illustration437 2010-12-22 10 AP [KUALA LUMPUR] German carmaker Volkswagen AG will make its new Passat and Jetta cars in Malaysia by late 2011 in a RM1 billion (S$419.2 million) venture inked yesterday with local auto group DRB-Hicom Berhad as it seeks to expand in South-east Asia.AP - 437 words
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545 2010-12-22 10 S JAYASANKARAN - Group to take legal action against those behind losses in its E&U unit this year By S JAYASANKARAN THE first casualty of the scandal engulfing multinational Sime Darby emerged yesterday when a former senior manager was charged in the Sessions Court in Kuala Lumpur545 words
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258 2010-12-22 10 No Supreme Court notification received, says Temasek Bloomberg [JAKARTA] Indonesia’s anti-monopoly agency is evaluating Temasek Holdings’ assets in the country, and said that the government has the right to seize them if a court-imposed fine is not paid. The Singapore investment company lostBloomberg - 258 words
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401 2010-12-22 10 Issuance surges to RM1b this year, the most since 2008 Bloomberg [DUBAI] Persian Gulf borrowers are selling ringgitdenominated Islamic bonds at a record pace in Malaysia to raise funds for expansion and take advantage of demand in the world’s biggest market for syariahcompliant bonds.Bloomberg - 401 words
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Page 10 Advertisements
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Advertisement904 2010-12-22 10 :*ATci NOTICES SAKAE HOLDINGS LTD. (Incorporated in Singapore on 2 July 1996) (Company Registration Number: *****4816E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Sakae Holdings Ltd. (the “Company”) will be held at 28 Tai Seng Street, Sakae Building, Level 7, Singapore *****6904 words
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Advertisement557 2010-12-22 10 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KURARAY SINGAPORE PTE., LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****6743H NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act,557 words
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GREATER CHINA/INDIA
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Article, Illustration622 2010-12-22 11 They agree to jointly develop 5G fighter jets, expand capacity at Indian nuclear power plant Reuters [NEW DELHI] Russia and India agreed yesterday a long-awaited contract to jointly develop fifth-genera-tion fighter aircraft and signed a deal to expand capacity at an Indian nuclearReuters; AP - 622 words
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328 2010-12-22 11 Jump reflects cash squeeze from higher bank reserve ratio Bloomberg [HONG KONG] China’s money market rate rose to the highest level in over two years, reflecting reduced availability of cash after lenders were ordered to set aside more capital as reserves. The amountBloomberg - 328 words
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343 2010-12-22 11 Bloomberg [SINGAPORE] A lack of toilets costs India more than US$50 billion a year, mostly through premature deaths and hygiene-related diseases, a study found. Illness, lost productivity and other consequences of fouled water and inadequate sewage treatment trimmed 6.4 per cent from India’s grossBloomberg - 343 words
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Article, Illustration394 2010-12-22 11 AFP [NEW DELHI] India suspended exports of onions, a key food staple, on Monday after prices of the vegetable soared, adding to the government’s inflation woes. Prices of onions commonly used to add flavour to Indian food have surged in the past fewAFP - 394 words
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316 2010-12-22 11 Bloomberg [NEW YORK] Ossen Innovation Co, the Shanghai-based maker of rare earth-coated steel materials used in roads and bridges, raised US$22.5 million in an initial public offering, capping a record year for Chinese IPOs in the United States. Ossen sold fiveBloomberg - 316 words
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Article, Illustration349 2010-12-22 11 Reuters [SHANGHAI] The bad loan ratio for Chinese banks may rise to 2 per cent after taking into account local government debt and the impact of recent government tightening in the real estate sector, state media reported yesterday, citing the chairmanReuters; BLOOMBERG - 349 words
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Advertisement386 2010-12-22 12 Outstanding Chief Executive Award -Mr Presented to the chief executive who has made an outstanding contribution to his or her company's financial performance and growth. r t?*D tfl*RP CUfl/Ous t, DRWEN TOUGH COOKIE INNOVATIVE GLOBAL LOOfo/y,. MOTIVATOR LEADER M£77c >4 <s. 'to/. °-9. ir o. °Q *b. Vj Businessman of386 words
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WORLD
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610 2010-12-22 13 Stocks hit as stress in credit markets dampens euphoria among investors Bloomberg [RIO DE JANEIRO] The first investigation into Brazil’s asset-backed securities industry, rising consumer delinquencies and the biggest rout of a bank stock in more than a decade are opening cracksBloomberg - 610 words
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289 2010-12-22 13 AFP [MANILA] Philippine President Benigno Aquino yesterday cut the number of paid holidays next year amid complaints from foreign business groups unhappy over mounting overtime pay. “The point, number one, is to pay the proper respects, and number two it reducesAFP - 289 words
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Article, Illustration47 2010-12-22 13 [WASHINGTON] Vietnam veteran Paul Stancliff helping to decorate a Christmas tree placed at the apex of the Vietnam Veterans Memorial in Washington, DC on Monday. The Christmas tree was decorated with handmade cards and ornaments created by schoolchildren from around the United States. AFPAFP - 47 words
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Article, Illustration281 2010-12-22 13 It looks into claims he shared inside info on EDS deal Reuters [SAN FRANCISCO] US regulators are looking into the events surrounding Mark Hurd’s abrupt exit as CEO of Hewlett Packard, a source said on Monday. The SEC’s probe was first reported by theReuters - 281 words
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204 2010-12-22 13 Bloomberg [CANBERRA] Ken Henry, the author of a planned Australian mining tax that helped bring down a prime minister, will leave his job as Secretary to the Treasury in March, the government said. Mr Henry, who in May proposed a profit levyBloomberg - 204 words
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402 2010-12-22 13 AP [DUBAI] A top Dubai fiscal official has tamped down rumours that the city-state was close to selling prized financial assets, including its stake in the London Stock Exchange (LSE). The denial from the governor of the sheikdom’s international bankingAP - 402 words
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197 2010-12-22 13 Bloomberg [WASHINGTON] Pfizer Inc, the world’s largest drugmaker, will recall about 19,000 bottles of Lipitor tablets distributed in the US after a customer reported a musty odour from bottles in which the drug was packaged, the company said. The odour is consistent withBloomberg - 197 words
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648 2010-12-22 13 But in Asia fees from mergers, stock and bond sales rise 18% Bloomberg [LONDON] Investment banking fees in Europe shrank to the lowest in six years in 2010 as companies aborted fund-raising activities and takeovers during the sovereign debt crisis. Income from arranging mergers,Bloomberg - 648 words
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Article, Illustration667 2010-12-22 16 Reapportioning of House seats based on 2010 count seen favouring them AP [WASHINGTON] If government estimates hold true, the closely watched 2010 census will show America’s once-torrid population growth dropping to its lowest level in seven decades. In Congress, the steady migrationAP; REUTERS - 667 words
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Article, Illustration566 2010-12-22 16 Reuters [MADRID] Yields at Spain’s last scheduled debt issue for this year rose compared with the equivalent sale a month ago and analysts warned of tough times ahead in 2011 even as the country slashed its state deficit. Spain’s TreasuryReuters - 566 words
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398 2010-12-22 16 Reuters [BANGKOK] Thailand’s government agreed yesterday to lift an eight-month state of emergency in Bangkok, citing an improved political climate and a less confrontational approach by an-ti-government “red shirt” protesters. If the government foresees a resurgence of violence, it can turn toReuters - 398 words
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535 2010-12-22 16 Final price may be between A$1.055b and A$1.7b Reuters [FRANKFURT] Lend Lease is to buy Bilfinger Berger’s Australian construction business Valemus for at least A$1.055 billion (S$1.4 billion) to expand market share and keep skilled workers. The acquisition will make Australian property developer LendReuters - 535 words
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Article, Illustration61 2010-12-22 16 [BEIJING] A visitor peering through light pillars displaying Chinese poems at the exhibition hall in the National Center for the Performing Arts in Beijing. ‘The Charm of Ancient Chinese Music’, an exhibition of music relics in the Central Plain Area, opened yesterday, displaying various ancientXINHUA - 61 words
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389 2010-12-22 16 Reuters [SYDNEY] Global miner Rio Tinto is talking to Australian-listed coal miner Riversdale about a higher US$3.8 billion takeover bid, according to a media report, ahead of a possible bidding war for the African-focused target. Shares in Sydney-based Riversdale wereReuters - 389 words
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Advertisement133 2010-12-22 14/15 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 stitches133 words
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Transport HUB
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Article741 2010-12-22 17 DAVID HUGHES - STRAIT TALK By DAVID HUGHES THE shipping industry is up in arms about what most people will regard as a remarkably arcane issue, but one of great importance to shipowners and charterers. Earlier this year, the International Accounting Standards Board (IASB) completed some 15 years741 words
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438 2010-12-22 17 Weaker activity on smaller panamaxes leads to 2.2% drop Reuters [LONDON] The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in over four months on Monday as weaker activity on the smaller pa namReuters - 438 words
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Article, Illustration401 2010-12-22 17 Bloomberg [LONDON] Supertankers that ship two million barrel cargoes of crude oil face delays at Chinese ports, potentially lowering vessel supply in the Persian Gulf, said Per Mansson, managing director of Nor Ocean Stockholm AB. At least four very large crude carriers, or VLCCs,Bloomberg; BLOOMBERG - 401 words
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Article, Illustration327 2010-12-22 17 Reuters [MOSCOW] One of Russia’s premier nuclear submarines, slated to carry its next generation of strategic missiles, has been called back from sea trials, possibly delaying deployment, a top weapons designer said on Monday. The Yuri Dolgoruky, Russia’s first Borei-class submarine, was designed toReuters; REUTERS - 327 words
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300 2010-12-22 17 JOYCE HOOI - By JOYCE HOOI [SINGAPORE] As the centre of power gradually moves eastwards in the shipping world, industry players will be grappling with the region’s role at next year’s Sea Asia event in April. The theme for the three-day maritime event, to be held300 words
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Article278 2010-12-22 17 SGX '000 Dec 21 S$ +/-Vol CH Offshore 0.48 unch 14 Chuan Hup Hldg 0.23 -0.01 70 Cosco Corp 2.09 0.06 6299 CWT Ltd 0.98 unch 836 Ezra Hldgs 1.70 -0.01 1943 First Ship Lea 0.46 0.01 102 Freight Links 0.07 -0.01 1110 Grand Banks unch unch 0278 words
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TRANSPORT HUB: AVIATION
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Article, Illustration652 2010-12-22 18 The end of 5-year debt revamp also opens door to cheaper bank loans Bloomberg [BRUSSELS] PT Garuda Indonesia, the flagship carrier once banned in Europe, signed a final debt agreement with its creditors on the continent, paving the way for aBloomberg; AFP - 652 words
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617 2010-12-22 18 Bloomberg [SEATTLE] Boeing Co plans to boost output of the 777 jet 66 per cent by 2013, a move that will add revenue as the planemaker prepares to announce a seventh delay to its 787 Dreamliner. Production of the 777sBloomberg - 617 words
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Article, Illustration313 2010-12-22 18 It will use leased jets and plans a Tokyo-London flight Bloomberg [TOKYO] Skymark Airlines, Japan’s largest low-cost carrier, will almost triple its fleet to 50 aircraft in four years to meet rising travel demand in the region. The added aircraft willBloomberg - 313 words
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Article3267 2010-12-22 18 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 SQ5313,267 words
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TRANSPORT HUB: LAND
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Article, Illustration972 2010-12-22 19 By 2030, Americans will burn 20% less petrol than today, analysts say AP [NEW YORK] The world’s biggest gas-guzzling nation has limits after all. After seven decades of mostly uninterrupted growth, US petrol demand is at the start of a long-term decline. By 2030,AP - 972 words
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Article, Illustration518 2010-12-22 19 SAMUEL EE - Replacing him is S Africa GM for sales, distribution By SAMUEL EE [SINGAPORE] After exactly two years in Singapore, BMW Group Asia managing director Johannes Seibert will return next month to the German premium car manufacturer’s headquarters in Munich after being promoted518 words
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Article, Illustration501 2010-12-22 19 Reuters [LONDON] Thousands of rail passengers queued for hours in the bitter cold in London on Monday as snow and ice caused long delays to Eurostar trains linking Britain with France and northern Europe through the Channel Tunnel. The rail operator told allReuters; AFP - 501 words
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245 2010-12-22 19 Reuters [TOKYO] Japan’s Fuji Heavy Industries, the maker of Subaru brand vehicles, said it is in talks with Chinese carmaker Chery Automobile to build a joint plant in China. The two companies will spend about 30 billion yen (S$471 million) toReuters - 245 words
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327 2010-12-22 19 Reuters [LONDON] The government published its preferred route for a high-speed rail line between London and Birmingham on Monday, saying it had made alterations to half of the route to meet concerns of residents and conservation groups. The line, costing £30Reuters - 327 words
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Page 17 Advertisements
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Advertisement5 2010-12-22 17 www.omy.sg mmi&i m L biog.omy-5 words
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Page 18 Miscellaneous
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Miscellaneous309 2010-12-22 18 CRYPTIC CROSSWORD Across 1 Kind of shrink underwear giving revealing glimpse! (8,4) 8 Publish paper with no leader (5) 9 Open out cutter and cut (9) 11 Drained and dead after unconcealed passion (9) 12 Lands winning serves holding head of racket(5) 13 Eternal punishment from mother country (9) 16309 words
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Page 19 Advertisements
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Advertisement23 2010-12-22 19 3* -S- O t/L Lianhe Zaobao £?!T?5!TM $36m Sentosa Cove bungalow fob through J|-;l|if*****J7n^^e^ smstt To subscribe, call 6388-3838 or go to sphsubscription.com.sg23 words
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EDITORIAL & OPINION
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497 2010-12-22 20 EDITORIAL GIVEN that Singapore’s information and communications technology (ICT) sector is now reasonably mature, it should come as no surprise that in 2011 the sector is expected to grow by a modest 2.9 per cent to US$12 billion, according to research agency estimates.497 words
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Article, Illustration738 2010-12-22 20 FRANK CHING - THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator FOR some people, the very name Guantanamo has come to stand for something repulsive about America in particular the difference between what it preaches about human rights and what738 words
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Article, Illustration973 2010-12-22 20 SIMON JOHNSON - The bipartisan agreement to tax cuts will result in lower revenue and a bigger deficit By SIMON SIMON JOHNSON Simon Johnson, a former chief economist of the IMF, is co-founder of a leading economics blog, http://BaselineScenario.com, a professor at MIT Sloan, and aAFP - 973 words
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Article, Illustration1156 2010-12-22 21 ALEC KOURLOUKOV - To alleviate the potential impact on profitability, banks in the Asia Pacific must align their practices with the new rules By ALEC KOURLOUKOV The writer is director, Risk Consulting at Deloitte Singapore. He may be contacted at akourloukov@deloitte. com BASEL III, introduced recently by the BaselREUTERS - 1,156 words
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Article, Illustration873 2010-12-22 21 ANTHONY ROWLEY - ANTHONY ROWLEY Tokyo Correspondent CHINA may not exactly have become public enemy number one for Japan but the government’s latest National Defence Programme Guidelines published last week make it quite clear that Japan is taking seriously the possibility of some sort of “grey zone” confrontation withREUTERS - 873 words
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311 2010-12-22 21 Justin Ng - LETTERS TO THE EDITOR Justin Ng Deputy director Workplace Outreach, Adult Health Division Health Promotion Board WE thank Steven Wong Yong Heng for his suggestions in his letter “Fine-tune Workplace Health Promotion” (BT, Dec 10). Mr Wong suggested that the government311 words
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288 2010-12-22 21 Sovann Giang - Sovann Giang Executive director Singapore Institute of Directors I REFER to the article “High time more women got on boards” by Linette Lim (BT, Dec 4). The Singapore Institute of Directors (SID) agrees with the statement made in the article that in general boards288 words
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SINGAPORE STOCKS
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Article8864 2010-12-22 22 Transaction date: Dec 21 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 19 +1 409 19 18.5 18.5 19 1.7 9.5 6.1 91 12 4.5 58348,864 words
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Article1827 2010-12-22 23 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 162 unch 7 162 155 1561,827 words
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Article9439 2010-12-22 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.33/ APS Alpha Fund (USD)!** 1.02/ 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 WM9,439 words
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Article828 2010-12-22 23 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 $mil 124 107 6389 ABF SG Bond ETF 110 110 112 502.1 1056 761 CIMBAsean40 100US$ US993 unch 78 996 992 993 997 39.7 335828 words
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Article73 2010-12-22 23 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 $mil 56 38 6000 AVJennings A47.5 46.5 50.5 3.6 7.4 3.8 123.7 55 16 6017 Genting HK US$ US43 +0.5 9548 43.5 42.5 42.5 43 2831.373 words
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Page 22 Advertisements
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Advertisement66 2010-12-22 22 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 2010-12-22 24 In local curr In S$ In US$ dy yr dy yr dy yr Dec 20 Index Change Change Change Change Change Change World Index Preliminary 893.3 0.0 7.3 0.1 1.1 0.1 7.7 EAFE Preliminary 803.3 0.0 2.3 0.3 -3.6 0.2 2.8 Europe Preliminary 1176.0 0.4374 words
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Article180 2010-12-22 24 Dec 21 $S Offer Bid 0vernight 0.03 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.05 US$ Offer Bid 7 days 0.35 0.25 1 month 0.43 0.33 2 months 0.43 0.33 3 months 0.46 0.36 6 months 0.56 0.46 9 months 0.80 0.70 12180 words
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Article22 2010-12-22 24 Dec 21 S$ Bid Offer 1-month 1.3145 1.3148 2-months 1.3145 1.3148 3-months 1.3145 1.3148 6-months 1.3146 1.3149 Source: OCBC22 words
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Article137 2010-12-22 24 Dec 21 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 11 491.8 490.0 491.8 31 Feb 11 490.0 488.0 492.0 8 Mar 11 491.0 488.0 492.0 14 Apr 11 493.0 May 11 493.0 Jun 11 493.0 Jul 11137 words
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Article84 2010-12-22 24 Dec 21 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 24.03.2011 0.38 0.34 0.34 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 103.63 5-Year N*****0S 2.875 01.07.2015 106.86 7-Year N*****0Z84 words
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Article107 2010-12-22 24 Dec 20 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1315.25 1298.75 1318.00 1295.50 Mar 11 1327.00 1310.50 1329.50 1307.25 May 11 1334.75 1318.50 1337.00 1316.00 Jul 11 1337.50 1321.75 1339.50 1319.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 11 54.98107 words
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Article121 2010-12-22 24 Dec 21 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.351 1.275 Can dollar 1.318 1.268 Euro 1.761 1.694 Sterling pound 2.082 2.002 NZ dollar 1.003 0.956 US dollar 1.338 1.287 Local dollars to 100 units of foreign121 words
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Article27 2010-12-22 24 Dec 21 Open High Sett STI Dec 3140 SIMSCI Dec 369.6 373.4 371.7 Taiwan Dec 312.5 315.3 315.3 Source: MF Global (S) Pte. Ltd27 words
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Article66 2010-12-22 24 Dec 21 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 11 3607 3611 3622 3606 340 5068 Feb 11 3597 3600 3613 3586 2401 ***** Mar 11 3550 3561 3575 3544 8226 ***** Apr 11 3522 353366 words
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Article429 2010-12-22 24 Dec 21 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar11 99.5850 0 3671 Jun11 99.4700 0 1759 Sep11 99.3300 0 695 Dec11 99.1650 0 513 EUROYEN TIBOR FUTURES Mar11 99.6500 0 1994 Jun11 99.6325 99.6325 99.6325 99.6350 0 1364 Sep11 99.6175 99.6175 99.6175 99.6200 0 1033429 words
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Article77 2010-12-22 24 CRUDE OIL PRODUCTS Dec 20 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 91.81 0.21 WTI (Near Mth) 88.58 0.58 Dubai (1-Mth F) 88.96 -0.36 Tapis blend 96.05 0.15 Minas 91.95 0.15 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 93.92 -0.08 Jet Kerosene 103.10 -0.60 US$/barrel Opec Oil77 words
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2364 2010-12-22 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 1.5 -0.5 510 1 3 -10 3.33 0 AFP Properties EW*****8 31.5 unch 256 1 10 -2 1.35 59 6221 Asia-Pacific Strategic W*****6 32 12,364 words
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Article464 2010-12-22 24 Dec 21 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.013 6.640 0.756 7.753 45.063 90.201 0.835 11.492 3.125 1.334 85.474 44.250 1.311 6.788 0.960 29.793 30.079 0.641 0.997 Canada 0.988 6.558464 words
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Article85 2010-12-22 24 Dec 21 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths85 words
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Article139 2010-12-22 24 Dec 21 GOLD (US$/oz) Dec 21 Dec 20 Hong Kong 1387.00 1386.80 Dec 20 Dec 17 London 1379.65 1365.54 1380.40 1366.31 Source: Thomson Reuters CAST BAR Dec 21 (S$) Selling Buying Kilobar 62,932.05 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 141 59 5gm 400 294 10gm 715139 words
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Article71 2010-12-22 24 Dec 20 Dec 20 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2365.00 2321.50 3 months 2378.00 2335.00 Copper, Grade A (US$/tonne) Cash 9236.00 9111.00 3 months 9201.00 9070.00 Lead (US$/tonne) Cash 2446.25 2426.00 3 months 2440.00 2420.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article154 2010-12-22 24 Dec 21 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3104 1.3119 0.9968 0.9978 Canadian dollar 1.2944 1.2955 0.9846 0.9853 Euro 1.7336 1.7342 1.3187 1.3190 NZ dollar 0.9821 0.9832 0.7471 0.7478 Sterling pound 2.0454 2.0464 1.5559 1.5564154 words
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Article82 2010-12-22 24 Dec 20 COCOA (£/tonne) Close Prev High/Low Mar 11 1987 1983 2028/1965 May 11 1998 1996 2035/1980 Jul 11 2012 2007 2049/1994 Sep 11 2020 2014 2055/2000 COFFEE (US$/tonne) Close Pev High/Low Jan 11 1976 1973 1981/1963 Mar 11 1990 1986 1996/1975 May 11 1997 1995 2003/1976 Jul 1182 words
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5807 2010-12-22 25 THE BUSINESS TIMES SHIPPING TIMES 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 *Loads5,807 words
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Page 25 Advertisements
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Advertisement6 2010-12-22 25 Shipping lines seeking reliable loaistiss partners6 words
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Page 26 Advertisements
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Advertisement28 2010-12-22 26 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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Advertisement16 2010-12-22 27 Win an 8D/6N Tokyo ravellers.c* m -Mil Log on to the ultimate travel resource bu SPH16 words
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executive Money
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Article, Illustration3260 2010-12-22 27 SPDR Gold gave them access to the precious metal without the cost and hassle of taking physical delivery, reports CAM SIMPSON Bloomberg JAMES Burton didn’t have a penny invested in gold of the US$142.8 billion he managed as chief executive officer of the California PublicBloomberg; REUTERS - 3,260 words
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Article, Illustration1179 2010-12-22 28 HAREN SHAH - Will quantitative easing win the day? Or will China tighten the spigot sufficiently to stem the whelming inflows of capital? MONEY MATTERS HAREN SHAH The writer is senior investment specialist at Citi Private Bank IF 2010 could be described in a word, “volatile” would be a goodSource: Bloomberg (as of Dec 9,2010) - 1,179 words
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Article, Illustration813 2010-12-22 28 KEVIN LIM,NISHANT KUMAR - As Templeton’s BRIC funds fall in the shadows of its Asian funds, star manager Mark Mobius is now feeling the heat, report KEVIN LIM and NISHANT KUMAR KEVIN LIM ,NISHANT KUMAR Reuters [SINGAPORE] TEMPLETON emerging markets funds that invest beyond Asia have failed to match theReuters; BLOOMBERG FILE PHOTO - 813 words
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748 2010-12-22 28 Bloomberg [NEW YORK] Loomis Sayles Co has fled Treasuries and bought Canadian and Indonesian debt, beating out 95 per cent of fixed income funds this year. The US$19.5 billion Loomis Bond Fund returned 12.2 per cent as the Bos-ton-based firm shifted moneyBloomberg - 748 words
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