The Business Times, 30 December 2010

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Thursday, December 30,2010
    23 words
  • 1006 1  -  Sector likely to lead growth as manufacturing slows By TEH SHI NING [SINGAPORE] Services will lead Singapore’s economic growth next year, but the sector is likely to be challenged by business costs. It may also add to inflation: a key risk for Singapore
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  • 812 1  -  Rising labour costs not the only concern for many S-chips By LYNETTE KHOO [SINGAPORE] Beijing has hiked its minimum wage again, and this is expected to trigger another bout of wage hikes across other cities and provinces in China. Most S-chips
    812 words
  • 142 1 GST INDEX 3,207.91 (+24.21) GST INDEX FUTURES 3,208 (+24) GSIMSCI 379.54 (+3.12) GSIMSCI FUTURES 380.00 (+2.50) FOREX US$ S$ US$ (S$ per US$) 1.295 (US$/S$ per 1.538 1.993 EURO (US$/S$/E) 1.314 1.702 Foreign currency per US$ S$ YEN 82.10 63.40 RM 3.089 2.385 HK$ 7.782 6.008 BAHT 30.18
    142 words
  • Page 1 Advertisements
    • 115 1 BizIT Mobile apps next big step, says HCL PAGE 25 OPINION Bracing for new GST rules coming next year PAGE 20 HDB Flats are smaller over the years PAGE 4 PROPERTY Office rental growth gathers speed in Q4 PAGE 28 In partnership with PATRIMONIO MUNDIAL WO R L D HERITAGE•PATRIMOINEMONDIAL•
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  • TOP STORIES
    • 566 2  -  14% of CPFIS-OA investors realise net profit above OA interest rate, compared with last year’s 13% By EMILYN YAP [SINGAPORE] More investors under the Central Provident Fund Investment Scheme (CPFIS) came out ahead for the year ended Sept 30 as markets performed well,
      566 words
    • 714 2 Some flights taking off and landing as scheduled [NEW YORK] Air, road, and rail travellers hampered by a massive snowstorm in the northeastern US were seeing a light at the end of the tunnel yesterday as snow cleanup progressed and airlines
      BLOOMBERG  -  714 words
    • 545 2 Services may bring the smile in 2011 SERVICES will lead Singapore’s economic growth next year, but the sector is likely to be challenged by business costs. It may also add to inflation: a key risk for Singapore in 2011. The year could see manufacturing cede the limelight as
      545 words
    • 210 2 [SINGAPORE] GuocoLand yesterday clarified that it currently has no plans to establish a real estate investment trust (Reit). The property group was responding to a report in The Business Times on Wednesday which said that GuocoLand may look at floating two Reits one
      210 words
    • 767 4  -  HDB flats are smaller than before but may provide more space as families shrink By EMILYN YAP [SINGAPORE] HDB flats have gotten smaller over the years, but most occupants today should actually have more space to themselves as the size
      767 words
    • 281 4 It also aims to win global support via diplomatic drive Bloomberg [SEOUL] South Korea named the North Korean regime as its “enemy” and promised to combine a stronger military deterrent with a renewed push to prepare its totalitarian neighbour’s 23 million people
      Bloomberg  -  281 words
    • 18 4 ISIN-CODE NAME NAV DATE LU********** Man AHL Trend SGD Share SGD 100.05 20.12.10
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    • 161 4 lieved their government should have displayed a “stronger military response”. Anger at the artillery barrage spurred a 37 per cent jump in applications to join South Korea’s Marine Corps this month from a year earlier. The Defense Ministry yesterday pledged an “active deterrence” strategy with a “battle-ready” military able to
      161 words
    • 522 4 Queensland sets up A$1m relief fund for flood victims AFP AP [SYDNEY] Australia’s Prime Minister Julia Gillard yesterday warned that unprecedented flooding would worsen after entire towns in Queensland were cut off and hundreds of people airlifted to safety from north-eastern towns. Drenching rains
      AFP; AP  -  522 words
  • Page 2 Advertisements
    • 98 2 THE MONETARY AUTHORITY OF SINGAPORE Results of auction of taxable book-entry Singapore Government Bonds to be issued on 3 Jan 2011 Tenor Approximately 7 years (non-benchmark) Total Amount Allotted SGD 1,100,000,000 Amount Allotted to Non-Competitive Applications SGD 69,682,000 Amount Allotted to MAS Nil Total Amount Applied SGD 2,095,332,000 Coupon Rate
      98 words
    • 21 2 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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  • Page 3 Advertisements
    • 280 3 boulevard SINGAPORE Standing apart, yet keeping the finest company. In Singapore's premier district, Orchard. VA Inessence presents Boulevard Vue a limited collection of 28 bespoke residences. Its distinctive glass-sheathed architecture and magnificent curvilinear "beacon" atrium set it apart while its graceful landscaping creates a peaceful and totally serene environment. Each
      280 words

  • Page 4 Advertisements
    • 53 4 WINDOW ON 2011 A SPECIAL NEW YEAR TREAT FOR BT READERS 20 essays by celebrity writers on key themes and trends to watch in 2011 Featuring: Joseph Stiglitz George Soros Nouriel Roubini Wolfgang Schauble Dominique Strauss-Kahn Justin Lin Yuriko Koike Ian Buruma and others In BT’s bumper new year issue:
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  • COMPANY NEWS
    • 554 5  -  Wilmar, together with Kerry Properties and Shangri-La Asia, could invest up to 7.5b yuan in the project By FELDA CHAY FRESH from the successful bid for three plots of land in China’s Liaoning province, Wilmar International, together with Kerry Properties and Shangri-La
      554 words
    • 253 5  -  By FELDA CHAY A BOUT of profit taking pushed Hotung Investment Holdings’ shares lower yesterday, following its jump to a 29-month high on Tuesday that was backed by an unusual surge in trading volume. The owner of Taiwan’s largest venture-capital investment manager saw
      253 words
    • 247 5 KINGSMEN Creatives Ltd said yesterday it has put in place several management changes to better position the group for growth in the coming years. As part of the changes, Simon Ong, one of the founders of the group and the group managing director will also be
      247 words
    • COMPANY BRIEFS
      • 109 5 BH Global Marine Ltd said its subsidiary Z-Power Automation Pte Ltd has signed a memorandum of understanding (MOU) with IMESA SPA to explore and discuss in detail opportunities for combining their skills, products and services, on a project basis, to the mutual
        109 words
      • 152 5 DEVOTION Energy Group said that Guangzhou Devotion Energy Technology Co Ltd, a subsidiary which is currently engaged in the business of manufacturing and sales of emulsified green coke (EGC), has entered into an agreement to lease its production facilities to Guangzhou Min Te Electro-mechanical
        152 words
      • 110 5 ASIA Water Technology said that its 43 per cent owned subsidiary Wuhan Hanxi Waste Water Treatment Company has paid out 4.55 million yuan (S$890,000) in settlement fees. A court in China had ruled in April that Wuhan Hanxi was to pay 5.4 million
        110 words
    • 128 5 STARHUB is ending 2010 on a high note by scoring a multimillion-dollar pay-TV and communications deal with integrated resort operator Marina Bay Sands (MBS). Under the multi-year agreement, Singapore’s second-largest operator will provide MBS with a range of voice and data services, high-speed broadband and Internet
      128 words
    • 2979 7  -  Ying Li stands out as an undervalued office property play with a prime land bank in fast-growing Chongqing CORPORATE ANALYSIS By AUDI WONG This article first appeared in the December issue of Pulses, produced by The Business Times CHINA’S property market is a hotly debated
      FILE PHOTO  -  2,979 words
    • 297 7  -  By LYNETTE KHOO ARMARDA Group is considering a potential acquisition of a company in China, the IT firm disclosed yesterday. Said to be a “synergistic” transaction, this potential acquisition will consolidate the existing operations of the group and its subsidiaries in the areas of
      297 words
  • Page 5 Advertisements
    • 327 5 AHEAD OF THE REST AGAIN Mi,,.,,.,,,,,,,,.,,,,,,,,,,,,,............,,.!' <!"""""»iuiiiiiHiiiiiiim»iiiiiiniiiiiiiiiii)iini'in»" '"""iiiiiiii jiiimiiiiii.iiiu iiiiii iiiiiiiiiiiiiii.'H R iiiiiniinn fiiiiiiniiiiiiiiii iiiiiiiiiiiiiiiiiii' 1 iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuii 1111 1 nilllJIIIIIIllllllllIIIIIIIIII'l' 1 1 111 y """inn,, In iiMiiwiiiiiiinip ii J'|J 1 y[ii 9!!!! H ii ii IS HHkii I in "llllllll slalC RffLSIIsB ■i.v. !_L Mlllllllllllllll' 11 >*****11 V i'Siw":: V
      327 words

  • SINGAPORE MARKETS
    • 592 6  -  Blue chips see price surge, enabling the index to rise 0.8% for the day and 10.6% so far this year STOCKS R SIVANITHY Senior Correspondent PERHAPS not surprisingly given the proximity of the end of the year and the fact that blue chips usually enjoy
      Source: Bloomberg  -  592 words
    • 4 6 DAILY
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    • 66 6 Dec 29 VALUE CLOSE BT OB/OS 340.00 +299.0 BT CADI -*****.00 +196.0 BT 10-day MA -*****.00 +34.00 FTSE ST Mid Cap 808.68 +5.43 FTSE ST Small Cap 599.50 +5.67 FTSE ST All Share 796.26 +6.00 FTSE ST China Top 296.82 +2.20 FTSE ST China 326.54 +2.61 FTSE
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    • 58 6 VOLUME Gallant 80,033,000 Genting SP 71,409,000 Tuan Sing 57,823,000 Golden Agri 53,454,000 KLW Hldgs 45,050,000 GMG Global 39,192,000 Sunmart 32,804,000 Vallianz Hldgs 29,016,000 Hotung Inv 25,826,000 *Genting HK US$ 25,666,000 VALUE($) Genting SP 157,259,790 CapitaLand 58,022,870 Wilmar 52,006,910 Golden Agri 42,739,740 SingTel 39,862,320 UOB 38,767,920 Gallant 36,835,165
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 13 1 2 0 0 0 13 1 2 Manufacturing 74 35 77 5 4 16 79 39 93 Commerce 37 15 19 8 0 2 45 15 21 Tpt/Stor/Comms 29 1 10
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    • BROKERS’ TAKE
      • 1044 6  -  DMG Partners Securities, Dec 29 Compiled by CONRAD TAN THE US economy grew at an annual rate of around 2 per cent over the two recent quarters after the initial spurt in late 2009 and early 2010. The available data suggests that real GDP growth is tracking
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    • 119 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 147,724 147,724 104,342 104,342 Manufacturing 350,720 70,982 421,702 246,336 2,358 248,694 Commerce 73,451 36,807 110,258 70,619 3,052 73,671 Tpt/Stor/Comms 74,786 2,366 77,152 117,339 731 118,070 Finance 43,763 43,763 141,883 141,883 Construction 14,179 1,297 15,476 4,858
      119 words
    • 113 6 Stock name Close Change Stock name Close Change CapMallsAsia 1.930 +0.020 CapitaLand 3.760 +0.070 CapitaMall 1.950 +0.020 CityDev 12.780 +0.100 ComfortDelGro 1.580 +0.010 DBS Grp 14.500 +0.080 F&N 6.520 +0.060 Genting SP 2.200 +0.010 Golden Agri 0.805 +0.010 HK Land 7.070 +0.050 JMH 44.400 -0.380 JSH
      113 words
    • 440 6 CURRENCIES Reuters [NEW YORK] The US dollar fell against the yen yesterday as the return to Japan of company earnings at the year’s end outweighed higher US bond yields, which rose following the prior session’s weak Treasury auction. Commodity gains boosted the Australian
      Reuters; BLOOMBERG  -  440 words
    • 109 6 BY CENTS CLOSE UP GLD 10US$ ***** 182.6 1.0 DBXT Nifty 10US$ ***** 150.2 0.9 DBXT MSKorea 10US$ 5808 126.9 1.7 CIMBAsean40 100US$ 1050 62.2 4.8 DBXT MSINDO 10us$ 1395 46.6 2.6 DBXT MSTHAI 10US$ 1616 46.6 2.3 JSH 2720 46.6 1.3 Jardine C&C 3594 40.0 1.1 UOB 5.05%NCPS
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    • 125 6 BY CENTS CLOSE DOWN JMH 4440 -49.2 -0.8 DBXT S&P Short 10US$ 4510 -14.3 -0.2 DBXT FTVietnam 10US$ 3660 -11.7 -0.2 Haw Par Corp 619 -11.0 -1.7 SGX RB ePW*****8 30.5 -10.0 -24.7 AustlandPG A$ 293 -6.6 -1.7 UOB MBL ePW*****2 18.5 -5.5 -22.9 UOB RB ePW*****8 14.5 -5.0
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 470 7 NOTICES LOST SHARE CERTIFICATE Notice is hereby given that the following share certificate has been reported lost:SINGAPORE PRESS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No.: *****2868E) Notice is hereby given that new share certificate will be issued and the original share certificate will be deemed duly
      470 words

  • SINGAPORE NEWS
    • 515 8  -  Exclusive buyer BG Group hopes to see its consignment taken up by then By RONNIE LIM SINGAPORE’S liquefied natural gas imports currently designated to just one buyer, BG Group could be opened up to other industry players from as early as
      515 words
    • 428 8  -  By LINETTE LIM THE Marina Bay area will be host to not just one, but two big countdown events on new year’s eve the Marina Bay Singapore Countdown (MBSC) and the Power Countdown Party at Marina Barrage. The Urban Redevelopment Authority
      428 words
    • 309 8 STARTING next year, children born to couples in inter-ethnic marriages can have both or just one of their parents’ races recorded in their birth certificate. The Immigration and Checkpoints Authority (ICA) said that Singaporeans born before Jan 1, 2011, to parents of different
      309 words
    • 161 8 ELECTRICITY tariffs during the quarter Jan 1 to March 31 next year will increase by 3.3 per cent, said SP Services yesterday. Electricity tariffs for households will increase by 0.76 cents to 24.1 cents per kilowatt hour (kWh). This means that
      161 words
    • 395 8  -  By CONRAD TAN CITIC Bank International (CBI) has opened its first branch in Singapore as part of its plans to expand beyond China and Hong Kong into the rest of Asia. The bank part of the Chinese state-owned Citic Group that is among the
      BLOOMBERG  -  395 words
    • 181 8 TWO new members, Michael Palmer and Chan Shun Sing, have been appointed to the board of the Singapore Totalisator Board (Tote Board) by the Minister for Finance. And Tan Soo Nan has been reappointed as chief executive of the board. Mr Palmer is
      181 words
    • 235 8 THE advisory board of NUS Business School’s Eastern China alumni network (ECAN) has appointed Leong Wai Leng, chairman of OCBC Bank (China), as its chairman. Ms Leong, who graduated with a bachelor’s degree in business administration from NUS, has had 15 years of
      235 words
    • 176 8 THE Ministry of Foreign Affairs announced yesterday that Tan York Chor has been appointed Singapore’s next ambassador to France. He will assume the post on Jan 3. Since joining the Singapore Civil Service in 1985, Mr Tan has worked in various capacities in the Ministry
      176 words
  • Page 8 Advertisements
    • 40 8 When SMEs compete, at least they agree on one issue November/December issue out now! Available at all petrol stations (except Caltex) and all major bookstores To subscribe ($30 for six issues delivered to your office or home), please call 6388-3838
      40 words

  • ECONOMY WATCH
    • 761 9 China, India to see population growth in 2015, Germany to contract: US data Bloomberg [WASHINGTON] A global economic power shift is being accelerated by population growth in Asia’s emerging markets, while the US will be buoyed by a relatively youthful populace, according to analyses
      Bloomberg; XINHUA  -  761 words
    • 471 9 AFP [PARIS] The European bond market is heading for another turbulent year in 2011, with investors groping for direction in the face of an uncertain US recovery and a stubborn debt crisis in the eurozone. In 2010, bonds for the first time lost
      AFP  -  471 words
    • 528 9 They are heading for worst quarter in more than 16 years Bloomberg [NEW YORK] Tax-exempt municipal bonds are heading for their worst quarterly performance in more than 16 years as yields soared amid a US Treasury sell off and the looming expiration of Build America
      Bloomberg  -  528 words
    • 201 9 Reuters [NOVO-OGARYOVO] Russia plans to make it easier for foreign investors to put money into certain sectors such as food and natural resources next year, as it seeks to rebuild the economy after the 2008 crisis. “In 2011, a row of amendments to
      Reuters; AP  -  201 words
    • 301 9 Nov loans rose 2% annually, compared to 1.5% rise in Oct Bloomberg [FRANKFURT] Loans to households and companies in Europe grew at a faster annual pace in November as the economic recovery boosted demand for credit. Loans to the private sector rose
      Bloomberg  -  301 words
    • 376 9 AFP [HANOI] Vietnam’s economy grew at its fastest pace in three years in 2010, according to an official estimate released yesterday, despite concerns over high inflation, a struggling currency and other risks. Gross domestic product (GDP) expanded by roughly 6.8 per cent compared
      AFP  -  376 words

  • MALAYSIA/INDONESIA
    • 878 10  -  RAM Consulting sees multiplier effects as big govt projects take off By PAULINE NG SHOULD Malaysia’s government and economic transformation programmes run to plan, far more tangible results should be evident next year. RAM Consulting chief economist Yeah Kim Leng expects 2011
      AFP  -  878 words
    • 493 10 It suggests that it could miss its target of awarding a licence this year Reuters [KUALA LUMPUR] Malaysia’s central bank yesterday said that it was still reviewing offers to set up mega Islamic banks, suggesting that it could miss its target of
      Reuters  -  493 words
    • 337 10 [KUALA LUMPUR] More potential remains to be tapped for the healthcare sector, with the government and private sector recognising it as one of the economy’s key growth sectors, said OSK Research. “The healthcare sector grew steadily in 2010 after emerging unscathed from the
      Bernama  -  337 words
    • 249 10 [JAKARTA] Indonesia’s central bank ordered lenders to set aside more of their foreign currency holdings as reserves, seeking to reduce pressure on inflation and the rupiah from capital inflows. Banks will be required to set aside 5 per cent of their total foreign exchange
      Bloomberg  -  249 words
  • Page 10 Advertisements

  • GREATER CHINA/INDIA
    • 450 11 Asia-Pacific firms are expected to be the most acquisitive buyers in 2011 Bloomberg [MUMBAI] Indian mergers and acquisitions (M&As) in 2011 may surpass this year’s record US$71 billion of deals, led by oil and gas, metals and mining companies, according
      Bloomberg  -  450 words
    • 364 11 State Council report says situation is ‘still very serious’ AFP [BEIJING] China said yesterday it had made great strides toward fighting corruption but admitted the problem was “still very serious” and pledged to work harder to crush graft and win the public’s confidence. In
      AFP  -  364 words
    • 399 11 AFP [MUMBAI] Bollywood actor Sanjay Dutt risks losing his home in the western Indian city of Mumbai because of a dispute with a director over a half-finished film, Indian media reported yesterday. The Bombay High Court ordered that two properties belonging
      AFP  -  399 words
    • 598 11 Bloomberg [TOKYO] Lawson Inc chief executive officer Takeshi Niinami aims to open almost 10,000 stores in China by 2020, selling drinks, food, and magazines. To pull it off, the Tokyo-based executive is packing his bags for Shanghai. As Japan’s second-larg-est convenience-store
      Bloomberg; BLOOMBERG  -  598 words
    • 531 11 Reuters [SYDNEY] China’s decision to cut its export quotas for rare earths minerals on Tuesday sparked international trade concerns while at the same time raising the stock of companies mining them. The US Trade Representative’s office said it was “very concerned” about China’s export
      Reuters  -  531 words
  • Page 11 Advertisements

  • FOCUS: WALL STREET
    • 2290 12 Financial muscle, political connections and lobbying clout enable industry to beat back efforts to institute major changes Bloomberg [NEW YORK] WALLStreet’sbiggest banks, whose missteps caused a global financial crisis and economic slowd own t wo years ago, were more agile when it came to
      Bloomberg; AFP  -  2,290 words

  • WORLD
    • 619 13 They created 1.4m jobs overseas this year versus less than 1m in the US AP [WASHINGTON] Corporate profits are up. Stock prices are up. So why isn’t anyone hiring? Actually, many American companies are but they’re hiring overseas, where
      AP  -  619 words
    • 351 13 It gave bribes to win business in Latin America, Asia: SEC AP [NEW YORK] Alcatel-Lu-cent SA has agreed to pay more than US$137 million to settle charges brought against it by the federal government. The Securities and Exchange Commission (SEC) accused the
      AP  -  351 words
    • 347 13 Bloomberg [HELSINKI] Sweden’s central bank may set the direction for other policymakers as it looks beyond conventional inflation targets to as-set-price growth in an effort to prevent the next bubble. “Not countering assetprice increases has been the conventional wisdom among central
      Bloomberg  -  347 words
    • 426 13 Bloomberg [NEW YORK] Allstate Corp sued Bank of America Corp and its Countrywide mortgage unit over US$700 million in residential mortgage-backed securities the insurer purchased, claiming Countrywide misrepresented the investments. “The defendants knew the loans offloaded onto Allstate were a toxic mix of loans
      Bloomberg  -  426 words
    • 554 13 Reuters [LOS ANGELES] Bon Jovi may have recently been snubbed by the Rock and Roll Hall of Fame, but the veteran band still ended the year as the world’s top concert attraction, according to a trade publication. The group sold US$201.1
      Reuters; AP  -  554 words
    • 461 13 Reuters [DUBAI] Luxury hotelier Jumeirah Group, owned by the ruler of Dubai, is setting its sights on China for long-term growth and plans to build a hotel in Qatar in time for the 2022 soccer World Cup. Executive chairman Gerald Lawless reiterated
      Reuters  -  461 words
    • 667 15 Basel Committee says that banks should disclose the main criteria used to decide on bonus awards Bloomberg [BRUSSELS] Bankers’ pay should be more transparent to investors to prevent lenders from hiding policies that encourage irresponsible risk taking, global regulators said in draft proposals.
      Bloomberg  -  667 words
    • 603 15 A new law passed by it also caps govt debt at 25% of GDP Reuters [ABU DHABI] The United Arab Emirate’s top advisory council passed a new public debt law on Tuesday, marking a key step towards the issuance of the Gulf Arab
      Reuters; AFP  -  603 words
    • 389 15 Bloomberg [SEOUL] South Korea plans to tighten curbs on banks’ holdings of foreign-ex-change derivatives, lowering existing limits by a fifth, according to an official at the country’s financial regulator. Local branches of overseas banks will be allowed to hold contracts equivalent to
      Bloomberg  -  389 words
    • 485 15 Bloomberg [TOKYO] Dai-ichi Life Insurance Co, Japan’s sec-ond-biggest life insurer, agreed to buy a full stake of Tower Australia Group Ltd for A$1.2 billion (S$1.6 billion), its biggest overseas acquisition. Dai-ichi Life, which owns 29 per cent of Tower Australia, will
      Bloomberg; BLOOMBERG  -  485 words
    • 477 15 Reuters [MANILA] The Philippine central bank left its key policy rate unchanged yesterday, as widely forecast, but expectations of a rate rise in the first half of 2011 firmed as it raised inflation forecasts for coming years. There were inflationary pressures from
      Reuters  -  477 words
    • 495 16 Dec inflation rate increases to 1.9% from 1.6% in Nov as prices surge Bloomberg [FRANKFURT] Inflation in Germany, Europe’s largest economy, unexpectedly accelerated in December as prices surged in the final month of the year. The inflation rate, calculated using a harmonised European method, increased to
      Bloomberg  -  495 words
    • 410 16 AP [DUBAI] The struggling real estate developer behind Dubai’s man-made islands said yesterday that it has support from more than 90 per cent of its non-bank creditors for its debt restructuring plan. Nakheel, a division of debt-laden state conglomerate Dubai World, has
      AP  -  410 words
    • 705 16 Spill-related costs set to be far below Wall St estimates AP [NEW YORK] As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more. The clean up, government fines, lawsuits, legal
      AP  -  705 words
    • 407 16 AP [LONDON] Please take your cash. Now how about giving some money to charity? Britain’s government said yesterday it is considering plans to request a donation to good causes each time a customer uses an ATM. Ministers said they are consulting with banks
      AP  -  407 words
    • 765 16 Reuters [LONDON] Oil has burst above top exporter Saudi Arabia’s preferred US$70-US$80 range and yet Opec is unlikely to stop the rally, helping to prepare the way for the market to bound above US$100 a barrel. At meetings this month a
      Reuters; AP  -  765 words

  • YEAR OF CALAMITIES
    • 1869 14  -  This year, natural disasters came in waves, killing at least a quarter million people, reports SETH BORENSTEIN and JULIE REED BELL SETH BORENSTEIN ,JULIE REED BELL AP [WASHINGTON] THIS was the year the Earth struck back. Earthquakes, heat waves, floods, volcanoes, super typhoons, blizzards, landslides
      AP; AP FILE PHOTOS  -  1,869 words



  • AVIATION
    • 433 17 Comment quells call by incoming airports association chief for Israeli-style system AFP [BERLIN] Germany’s justice minister poured cold water yesterday on proposals by the incoming head of the country’s airports association for Israeli-style passenger profiling to improve security checks. “Passengers could
      AFP; AP  -  433 words
    • 355 17 AP [SAN FRANCISCO] A pilot who posted YouTube videos criticising security at San Francisco International Airport said on Tuesday that he was shocked at the uproar they had created. Chris Liu, 50, told ABC’s Good Morning America that he wasn’t aware so
      AP  -  355 words
    • 142 17 AFP [RIO DE JANEIRO] Air France has been ordered to pay US$727,000 to relatives of a Brazilian family that died in the airline’s deadliest air accident, a Rio-Paris flight that came down in the Atlantic in June 2009. A Rio de Janeiro
      AFP  -  142 words
    • 3257 17 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1230 KU6458 1425 SQ458 1425 EY473 1940 --VA7473 1940 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 9W4081 1830 AF8087 1830 BA7381 1830 JL5084 1830 MU8213 1830 QF81 1830 Ahmedabad NH6292 1850 SQ530
      3,257 words
    • 205 17 [SINGAPORE] Changi Airport has announced that it will welcome Air Macau on board from Jan 3 the first carrier to join Changi’s growing network of airlines in 2011. Air Macau is a full-serv-ice carrier, operating twice every week. Offering passenger services to Macau on
      205 words
    • 222 17 Bloomberg [DUBAI] The United Arab Emirates (UAE) will require Canadian visitors to buy a visa for the first time to enter the country, paying as much as C$1,000 (S$1,295) when applying from Jan 2. The move is the latest in a dispute
      Bloomberg  -  222 words
    • 4207 18 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 *Loads
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  • Page 17 Miscellaneous
    • 340 17 CRYPTIC CROSSWORD Across 8 Soft soap that gets wet in the bathroom (7) 10 Country lake west of peninsula (7) 11 Explains magician’s tricks no longer secret (6,3) 12 Energy of second eleven maybe (5) 13 Soldiers having bad time, needing to retreat (5) 14 Goes along casually, using various
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  • Page 18 Advertisements
    • 27 18 Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES
      27 words

  • 489 19 Bloomberg [MELBOURNE] QR National Ltd, Australia’s largest coal transporter by rail, expects deliveries to be “adversely” affected for at least this month and next after rain and a derailment forced track closures in Queensland. The wet weather and flooding is “hampering access to
    Bloomberg; REUTERS  -  489 words
  • 248 19 Xinhua [ANKARA] China Ocean Shipping (Group) Company (Cosco), China’s largest shipping group, has been strengthening its foothold in Turkey since entering the market in 1996. Cosco, which owns and controls over 800 merchant vessels with an annual carrying capacity of 400 million tonnes, offers
    Xinhua  -  248 words
  • 179 19 Lower finance costs offset revenue fall for port operator Reuters [MOSCOW] Russia’s largest port operator Novorossiysk said net profit climbed 12 per cent in the first nine months of the year as lower finance costs offset a slight fall in revenue. The company, based
    Reuters  -  179 words
  • 686 19 Baltic states raise concerns over technology the Russians will gain [PARIS] Since a low-key Christmas Eve announcement of a French sale of assault ships to Russia, high-level government deal-makers have boasted about the multimillion euro deal like it was a soccer game
    686 words
  • 278 19 SGX '000 Dec 29 S$ +/-Vol CH Offshore 0.50 0.02 55 Chuan Hup Hldg 0.25 0.01 66 Cosco Corp 2.14 0.02 6056 CWT Ltd 1.00 0.02 3003 Ezra Hldgs 1.78 0.02 4926 First Ship Lea 0.47 0.01 138 Freight Links 0.08 unch ***** Grand Banks unch unch 0
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  • EDITORIAL & OPINION
    • 525 20 EDITORIAL BY almost all accounts, 2011 will be another good year for stocks. This much is obvious from the recommendations being issued by investment houses over the past fortnight in which equities are predicted to continue their upward path following their collapse in the
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    • 878 20  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent IN New York stores, the tills were ringing out Christmas cheer and a Happy New Year as shoppers fought the winter snows and prepared to shop their cares away. Credit cards flashed in all their gold
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    • 1003 20  -  Firms should review their impact on business and build good GST practices into their routine By ROBERT TSANG RICHARD MACKENDER Robert Tsang and Richard Mackender are directors, Tax Services, Deloitte Singapore Southeast Asia. They can be contacted at robtsang@deloitte.com and rimackender@deloitte. com,
      FILE PHOTO  -  1,003 words
    • 1278 21  -  To reach a US$2 trillion GDP in 2065, Singapore must create and build commercial assets with a special quality By TAN SENG HOCK By TAN SENG HOCK and KEE KOON BOON The writer is the Group CEO and CIO of Aegis Group of
      FILE PHOTO  -  1,278 words
    • 763 21  -  fiS REUTERS BREAKINGVIEWS By ROB COX WALL Street rivals usually follow where Goldman Sachs leads. It is unlikely to be any different when the findings of Goldman’s Business Standards Committee become public early next year. But on one important point Goldman lags some big competitors:
      BLOOMBERG  -  763 words
    • 452 21  -  LETTER TO THE EDITOR Ang Hao Yao SCRIP dividends are becoming more commonly used by listed companies. In fact, there have been proposals to remove the need to obtain shareholders’ approval for companies planning to issue scrip dividends. However, I would like to
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  • SINGAPORE STOCKS
    • 9019 22 Transaction date: Dec 29 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 +0.5 2889 19.5 18.5 18.5 19 1.7 9.5 6.1 91 12 4.5 5834
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    • 1893 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 185 +5 1 185 185 162
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    • 9435 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.31/ 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 WM
      9,435 words
    • 837 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 $mil 124 107 6389 ABF SG Bond ETF 112 111 111.5 511.3 1056 761 CIMBAsean40 100US$ US1050 +48 2 1050 1050 1020 1022 42 335
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    • 77 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 $mil 56 38 6000 AVJennings A47.5 +2 4 47.5 47 48 50 3.6 7.4 3.8 123.7 55 16 6017 Genting HK US$ US44.5 -0.5 ***** 45.5
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  • FINANCE & COMMODITIES
    • 374 24 In local curr In S$ In US$ dy yr dy yr dy yr Dec 28 Index Change Change Change Change Change Change World Index Preliminary 901.2 0.0 8.2 -0.1 0.9 0.1 9.1 EAFE Preliminary 809.1 -0.1 3.1 0.0 -3.7 0.3 4.2 Europe Preliminary 1184.3 0.0
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    • 191 24 Dec 29 $S Offer Bid 0vernight 0.02 par 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.04 US$ Offer Bid 7 days 0.42 0.32 1 month 0.42 0.32 2 months 0.44 0.34 3 months 0.46 0.36 6 months 0.56 0.46 9 months 0.80 0.65 12
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    • 22 24 Dec 29 S$ Bid Offer 1-month 1.2950 1.2955 2-months 1.2950 1.2955 3-months 1.2950 1.2956 6-months 1.2950 1.2955 Source: OCBC
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    • 138 24 Dec 29 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 11 498.0 497.4 498.0 5 Feb 11 497.0 497.0 497.0 28 Mar 11 496.0 Apr 11 497.0 May 11 496.0 Jun 11 496.0 Jul 11 496.0 Aug 11
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    • 88 24 Dec 29 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 31.03.2011 0.39 1-Year BY*****N 01.11.2011 0.42 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 103.47 103.52 103.50 5-Year N*****0S 2.875 01.07.2015 106.19 106.30 106.15
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    • 107 24 Dec 28 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1375.75 1373.00 1385.25 1372.00 Mar 11 1387.00 1384.50 1396.75 1383.25 May 11 1393.50 1391.00 1401.50 1389.75 Jul 11 1396.00 1392.75 1405.00 1392.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 11 56.82
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    • 77 24 CRUDE OIL PRODUCTS Dec 24 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 93.87 -0.38 WTI (Near Mth) 91.01 -0.48 Dubai (1-Mth F) 90.96 0.46 Tapis blend 98.60 0.35 Minas 94.40 0.25 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 97.22 1.89 Jet Kerosene 106.25 0.90 US$/barrel Opec Oil
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    • 2521 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2 1 3 -9 2.75 0 AFP Properties EW*****8 32.5 1 343 1 10 -6 1.38 59 6221 Asia-Pacific Strategic W*****6 33 1 150 -1
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    • 121 24 Dec 29 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.354 1.278 Can dollar 1.319 1.269 Euro 1.733 1.667 Sterling pound 2.032 1.954 NZ dollar 1.01 0.962 US dollar 1.318 1.268 Local dollars to 100 units of foreign
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    • 27 24 Dec 29 Open High Sett STI Dec 3208 SIMSCI Dec 377.4 380.5 380.0 Taiwan Dec 315.4 315.9 315.8 Source: MF Global (S) Pte. Ltd
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    • 66 24 Dec 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 11 3800 3781 3800 3765 648 3906 Feb 11 3804 3765 3807 3760 1924 ***** Mar 11 3775 3733 3775 3722 7176 ***** Apr 11 3740 3708
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    • 429 24 Dec 29 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar11 99.6000 0 4021 Jun11 99.4850 0 1709 Sep11 99.3100 0 785 Dec11 99.0950 0 395 EUROYEN TIBOR FUTURES Mar11 99.6525 0 2059 Jun11 99.6375 0 1389 Sep11 99.6225 0 1064 Dec11 99.6175 99.6175 99.6175 99.6125 209
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    • 464 24 Dec 29 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.011 6.710 0.771 7.886 45.651 91.232 0.832 11.602 3.131 1.331 86.991 44.486 1.313 6.780 0.963 29.783 30.578 0.659 1.013 Canada 0.989 6.636
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    • 85 24 Dec 29 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 138 24 Dec 29 GOLD (US$/oz) Dec 28 Dec 29 Hong Kong 1390.00 1405.00 Dec 28 Dec 27 London 1403.95 1381.91 1404.95 1382.68 Source: Thomson Reuters CAST BAR Dec 29 (S$) Selling Buying Kilobar 62,742.66 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 141 59 5gm 399 293 10gm 713
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    • 71 24 Dec 24 Dec 24 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2403.50 2423.00 3 months 2412.00 2432.00 Copper, Grade A (US$/tonne) Cash 9397.00 9349.00 3 months 9346.00 9300.00 Lead (US$/tonne) Cash 2429.50 2452.50 3 months 2430.00 2450.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 154 24 Dec 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3121 1.3132 1.0131 1.0136 Canadian dollar 1.2974 1.2986 1.0018 1.0023 Euro 1.7018 1.7028 1.3140 1.3143 NZ dollar 0.9857 0.9874 0.7611 0.7621 Sterling pound 1.9919 1.9932 1.5380 1.5384
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    • 78 24 Dec 24 COCOA (£/tonne) Close Prev High/Low Mar 11 2036 2040 2050/2014 May 11 2042 2049 2046/2020 Jul 11 2056 2061 Sep 11 2062 2072 2055/2041 COFFEE (US$/tonne) Close Prev High/Low Jan 11 1970 1984 1991/1964 Mar 11 1997 2011 2020/1991 May 11 2010 2028 2034/2004 Jul 11 2023
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  • BizIT
    • 695 25  -  By VICTORIA HO IT probably wouldn’t surprise many that tablet PCs (also known as media tablets) top most IT executives’ wish lists. Funnily, many also have their sights set on coffee machines, they tell us. In an informal poll conducted by BizIT, we
      695 words
    • 940 25  -  Indian IT vendor will do much of the development work in Singapore, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY INDIAN software major HCL Technologies Ltd is building up capacity to churn out mobile applications tailor-made for enterprises, using Singapore as its main development
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    • 900 25  -  Indian firms moving aggressively in region, with Singapore as hub By RAJU CHELLAM A RAPID uptick in adoption of cloud computing models and the move by large enterprises towards outsourced cloud services will dramatically change the dynamics of IT outsourcing in 2011,
      900 words

  • PROPERTY
    • 717 26 Govt to double 2011 supply of affordable housing from 5.8m units this year Bloomberg [SHANGHAI] China may need to build more affordable homes next year than the 10 million units planned as the target may not be “sufficient” to meet the country’s demand, according to
      Bloomberg; BLOOMBERG FILE PHOTO  -  717 words
    • 363 26 Bloomberg [MUMBAI] India’s new home sales fell as much as 25 per cent after prices reached a record earlier this year and aren’t expected to recover in the next six months following six interest rate increases, Knight Frank LLP said. “The first
      Bloomberg  -  363 words
    • 280 26 Reuters [LONDON] Property developer Plaza Centers said its US joint venture has signed an agreement to acquire seven US shopping centres for US$75 million from affiliates of Charter Hall Retail real estate investment trust. Plaza Centers said EPN Investment Management, a
      Reuters  -  280 words
    • 1203 26  -  470 acre Chicago site to have 13,575 homes, retail space and a marina, reports ROBERT SHAROFF ROBERT SHAROFF NYT [CHICAGO] A PLAN to redevelop the site of the long-closed US steel plant on the south lakefront here is ambitious even in a
      NYT  -  1,203 words
    • 1547 27 Housing starts will likely hit a three-year high of 739,000 in 2011 Bloomberg [WASHINGTON] Federal Reserve chairman Ben Bernanke may be about to get help in his attempt to boost the US economy from an industry at rock-bottom: housing. Job growth, even with unemployment
      Bloomberg; BLOOMBERG FILE PHOTO; AFP  -  1,547 words
    • 1109 27  -  Many of them are trying to stand out by essentially posing as hotels and offering extra services, reports MICHELLE HIGGINS NYT [NEW YORK] ASELF-DE-SCRIBED hotel snob, Jennifer Treadwell prefers to stay at Four Seasons and similar upscale hotels when she goes on vacation,
      NYT  -  1,109 words
    • 331 28  -  Nod for 1,190 property firms, 27,754 agents; public register on CEA website from Jan 1 By UMA SHANKARI THE newly set up Council for Estate Agencies (CEA) has approved 1,190 licence applications from real estate firms as well as 27,754 registration applications for property agents,
      331 words
    • 315 28 But rate hikes in the new year may ease growth, says report Bernama [MELBOURNE] Australia experienced one of the strongest housing markets in the world during 2010, new research showed. But likely interest rate hikes will slow the market in 2011, the Global
      Bernama; BLOOMBERG  -  315 words
    • 1646 28 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED One Shenton Apt 01/12/2010 99 581 967 1664 Palm Green Apt 01/12/2010 FH
      1,646 words
    • 353 28  -  By UMA SHANKARI THE pace of office rental growth gained momentum in the fourth quarter of 2010, according to a new report from DTZ. The firm said that average prime gross rents in Raffles Place rose 7.1 per cent quarter-on-quarter in Q4 2010
      353 words
  • Page 26 Advertisements
    • 734 26 adv IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF HONGLY MOULD ENGINEERING (PTE.) LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) Company Registration No: *****0959W At an Extraordinary General Meeting of the Members of HONGLY MOULD ENGINEERING (PTE.) LTD. convened and held at 115 Eunos Avenue 3,
      734 words


  • Page 28 Advertisements
    • 46 28 I II ILJLII II II II II imr SAVILLS INDUSTRIAL Trust us to locate the most ideal industrial facility for you savills Savills has more than 200 offices and associates worldwide to meet all your real estate needs, anywhere in the world Call 6536 5022 SavillS.COITI
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