The Business Times, 31 December 2010

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Total Pages: 28
1 28 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Friday, December 31,2010
    22 words
  • 525 1  -  Pope creates new laws to fight money laundering By CONRAD TAN [SINGAPORE] The Vatican has created new laws and a financial agency to fight money laundering after a recent scandal tarnished its reputation. Pope Benedict XVI yesterday approved a new law requiring that
    525 words
  • 143 1 GST INDEX 3,212.46 (+4.55) GST INDEX FUTURES 3,212 (+4) GSIMSCI 379.85 (+0.31) GSIMSCI FUTURES 380.80 (+0.80) FOREX US$ S$ US$ (S$ per US$) 1.293 (US$/S$ per 1.552 2.007 EURO (US$/S$/E) 1.324 1.712 Foreign currency per US$ S$ YEN 81.50 63.00 RM 3.084 2.385 HK$ 7.784 6.019 BAHT 30.16
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  • 871 1  -  Some face a tough financial climate but hope for better times after a ‘transition’ By JOYCE HOOI [SINGAPORE] Some firms are bursting with promise while the future of others is fraught with uncertainty as the green sector treads gingerly beyond 2010.
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  • Page 1 Advertisements
    • 328 1 BEST WINES Pace-setting year for Bordeaux and Burgundy PAGE 27 FESTIVALS AROUND THE WORLD Christmas in London ECONOMICS The Simpsons epitomise perfectly the entrepreneurship spirit PAGE BEST CDs Homespun gems PAGE 25 PAGE 28 WINDOW ON 2011 A SPECIAL NEW YEAR TREAT FOR BT READERS 20 essays by celebrity writers
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  • TOP STORIES
    • 828 2  -  70 new charges slapped on Koh Seah Wee, who worked in court for 7 years SINGAPORE LAND AUTHORITY FRAUD CASE By GRACE LEONG [SINGAPORE] The probe into the massive Singapore Land Authority fraud case has uncovered more alleged cheating by ex-SLA executive Koh
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    • 633 2 Force majeure on some mines, crops destroyed Bloomberg [MELBOURNE] Heavy rain and flooding that’s swept across the Australian state of Queensland may cost billions of dollars after crops were destroyed and output from coal mines was disrupted, Premier Anna Bligh said. “It’s without precedent
      Bloomberg; AFP  -  633 words
    • 547 2 Green firms, out in the cold, wait for spring SOME firms are bursting with promise while the future of others is fraught with uncertainty as the green sector treads gingerly beyond 2010. For several companies this year, it has been a case of pain before gain. The trek
      547 words
    • 723 4  -  Economists publish Homer Simpson’s real-world guide to entrepreneurship By ANNA TEO [SINGAPORE] The Simpsons, America’s favourite dysfunctional family, are known (and loved) for parodying American society and culture. Now a new academic paper by three economists shows that, as goofy and idiotic as he
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    • 494 4  -  Media group particularly keen on retail sector By EMILYN YAP [SINGAPORE] Singapore Press Holdings (SPH) is on the search for more property investments as one of its projects, Clementi Mall, opens its doors next month. The group will continue to focus on
      494 words
    • 572 4 Move may hit those making cheap calls via firms like Skype AFP [BEIJING] China has pledged to restrict Internet phone services a move that could affect thousands of businesses and individuals making cheap calls via Web-based communications companies such as Skype. “We are
      AFP  -  572 words
    • 18 4 ISIN-CODE NAME NAV DATE LU********** Man AHL Trend SGD Share SGD 100.05 20.12.10
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    • 652 4 AFP [NEW YORK] Criticism of New York Mayor Michael Bloomberg snowballed on Wednesday as the top city official bore the brunt of the blame for the lacklustre response to one of the worst blizzards in decades. While airports worked to clear a massive
      AFP  -  652 words
  • Page 2 Advertisements
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      415 words

  • Page 3 Advertisements
    • 301 3 Discover a new dimension of fine living Experience the full splendour of life. A new paradigm of fine living on the celebrated East Coast, Silversea Elan opens up a sea of luxuries. At the peak of perfection, exquisite finishes and fittings create a residence of unparalleled sophistication. The collection includes
      301 words


  • COMPANY NEWS
    • 482 5  -  The site with a GFA of 237,327 sq m has a 50-year lease that runs till 2055 By EMILYN YAP CAPITALAND, CapitaMalls Asia (CMA), and three other partners will be developing an integrated mixeduse property under the Raffles City brand in
      482 words
    • 313 5  -  Plans for lakefront residential project at 17.2ha Nantong site By UMA SHANKARI KEPPEL Land’s newly set up China unit, Keppel Land China, has bought a 17.2 hectare site in Nantong, Jiangsu province, for 1.04 billion yuan (S$202 million). The developer will build a lakefront
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    • 441 5  -  By FELDA CHAY MALAYSIA Smelting Corp (MSC) yesterday lodged its prospectus for a secondary listing on the Singapore Exchange mainboard, where it hopes to raise between RM50 million and RM100 million (S$20.9 million and S$41.8 million) by issuing new shares. This
      441 words
    • 253 5  -  By LYNN KAN COSCO Corporation has bagged contracts worth more than US$100 million to build four 57,000 deadweight ton (dwt) bulk carriers. Cosco Zhoushan Shipyard, a subsidiary of Cosco Shipyard Group, secured the deal, said the group in a regulatory filing yesterday. The ships
      BLOOMBERG  -  253 words
    • 726 5  -  HOCK LOCK SIEW By R SIVANITHY THE recent exchange of views and debate in BT’s letters page following the takeover offer of 48.5 cents per Financial One (FO) share by the company’s chief executive Andre Koo makes for an interesting study
      726 words
    • 623 7  -  Proceeds will be used to fund group’s upstream expansion to produce PET chips By LYNETTE KHOO CHINA Gaoxian, which is conducting roadshows in South Korea next month, said that it hopes to price the Korean Depository Receipts (KDRs) at a premium to the
      FILE PHOTO  -  623 words
    • 416 7  -  By LYNN KAN UOB Asset Management (UOBAM) marks its first move into the Chinese wealth management market with its newly minted joint venture (JV) fund management firm, Ping An UOB Fund Management Company (Ping An UOB FMC). The wholly owned subsidiary
      416 words
    • 298 7 Earnings per share rose to 2.69 cents from 0.79 cent GOLF equipment specialist Transview Holdings posted a net profit of $4.8 million for the financial year ended Oct 31, 2010, up from $1.4 million a year ago, driven by higher sales and income from
      298 words
    • 240 7 THE Singapore Exchange (SGX) is consulting the public on the proposed introduction of options on the S&P CNX Nifty Index on its derivatives platform. The proposed options contract complements the popular S&P CNX Nifty futures, which had an average daily trading volume of
      240 words
    • COMPANY BRIEFS
      • 77 7 ADVANCED Holdings Ltd, a global supplier of proprietary process equipment and technologies, clean-energy solutions and environmental technologies, said it has successfully clinched new oil gas contracts worth some $12.1 million. All the projects are expected to be completed and delivered in 2011. The projects include
        77 words
      • 93 7 COSCO Corporation (Singapore) Ltd said its 51 per cent owned subsidiary, Cosco Shipyard Group Co Ltd (CSG), has ceased to have management control over Diesel Marine Dalian Ltd and Diesel Marine International (Nantong) Co Ltd, which were firms in which CSG has an
        93 words
      • 66 7 JEP Holdings said its subsidiary, JEP Precision Engineering Pte Ltd, has signed a long-term agreement to provide precision machining services for the manufacture of aircraft engine casings to Singapore Aerospace Manufacturing Pte Ltd from Jan 1, 2011 to Dec 31, 2014. The agreement
        66 words
      • 90 7 CHINA Flexible Packaging Holdings said net profit rose 17.2 per cent to 40.8 million yuan (S$7.96 million) in the year ending October 2010 from a year ago. This came on the back of full-year revenues of 963.7 million yuan, up 32.2 per cent over
        90 words
      • 63 7 ARMARDA Group announced a proposed placement of 114 million new ordinary shares at an issue price of $0.036 to individual investors. These shares represent 10.57 per cent of the enlarged share capital of the group and the issue price is a 10 per cent
        63 words
      • 77 7 CACHE Logistics Trust said yesterday that a “highly regarded multinational corporation” has committed to occupy approximately 280,000 sq ft, representing over 12 per cent of the gross floor area, at CWT Commodity Hub for nine years. The commitment means certainty of occupancy for the
        77 words
  • Page 5 Advertisements
    • 53 5 WINDOW ON 2011 A SPECIAL NEW YEAR TREAT FOR BT READERS 20 essays by celebrity writers on key themes and trends to watch in 2011 Featuring: Joseph Stiglitz George Soros Nouriel Roubini Wolfgang Schauble Dominique Strauss-Kahn Justin Lin Yuriko Koike Ian Buruma and others In BT’s bumper new year issue:
      53 words
    • 12 5 JERRY LUM Snr Marketing Director, MBA, CES HP: *****098 View: jerrylum.myweb.sg &KA
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  • SINGAPORE MARKETS
    • 597 6  -  ST Index rises 10 points with firm finish in HK, but trims gain to just 4.6 points at local close STOCKS R SIVANITHY Senior Correspondent HAVING already risen 48 points between Monday and Wednesday, the Straits Times Index (STI) yesterday faltered slightly, ending just 4.55 points
      BLOOMBERG  -  597 words
    • 4 6 DAILY
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    • 65 6 Dec 30 VALUE CLOSE BT OB/OS 501.00 +161.0 BT CADI -*****.00 +57.0 BT 10-day MA -*****.00 +50.00 FTSE ST Mid Cap 808.56 -0.12 FTSE ST Small Cap 601.56 +2.06 FTSE ST All Share 797.30 +1.04 FTSE ST China Top 297.37 +0.55 FTSE ST China 326.54 FTSE ST
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    • 56 6 VOLUME Ying Li 57,151,000 Gallant 40,730,000 ChinaGaoxian 36,262,000 Golden Agri 30,514,000 Genting SP 25,783,000 Tuan Sing 24,775,000 ChinaSports 24,523,000 Noble Grp 21,548,000 Fuxing 21,372,000 Infinio 19,485,000 VALUE($) Wilmar 63,185,290 Keppel Corp 59,586,120 Genting SP 56,399,000 Noble Grp 46,865,130 SembMar 40,803,370 UOB 40,761,660 SingTel 33,803,780 CapitaLand 25,636,515 Golden
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 5 6 0 0 0 6 5 6 Manufacturing 55 48 86 4 1 10 59 49 96 Commerce 27 13 30 1 3 5 28 16 35 Tpt/Stor/Comms 11 14 18
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    • BROKERS’ TAKE
      • 408 6 Dec 30 close: S$5.63 DBS Group Research, Dec 30 WILMAR International’s wholly owned subsidiary, WCA Ltd (WPL), has formed another joint venture with Kerry Properties (China) Ltd (KPCL) and Shangri-La China Ltd (SACL) to bid for land use rights on six sites in Laobian district, Yingkou city, Liaoning
        408 words
      • 504 6  -  HSBC Global Research, Dec 30 Compiled by CONRAD TAN CHINA’S headline manufacturing purchasing managers’ index (PMI) moderated to a three-month low at 54.4 in December, but there are no worries about growth as this reading is still well above the long-term average of 52.3. The slowdown is mainly
        504 words
    • 120 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 77,484 77,484 100,899 100,899 Manufacturing 342,641 43,624 386,265 240,183 2,326 242,510 Commerce 70,599 9,123 79,722 82,386 739 83,125 Tpt/Stor/Comms 49,059 5,030 54,089 95,832 1,477 97,309 Finance 38,378 38,378 99,129 99,129 Construction 23,515 8,680 32,195 9,527
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    • 108 6 Stock name Close Change CapMallsAsia 1.940 +0.010 CapitaLand 3.760 CapitaMall 1.940 -0.010 CityDev 12.720 -0.060 ComfortDelGro 1.580 DBS Grp 14.500 F&N 6.510 -0.010 Genting SP 2.180 -0.020 Golden Agri 0.800 -0.005 HK Land 7.150 +0.080 JMH 44.620 +0.220 JSH 27.500 +0.300 Jardine C&C 36.840 +0.900 Keppel
      108 words
    • 473 6 CURRENCIES Reuters [NEW YORK] The Swiss franc hit record highs versus the euro and dollar yesterday and looked set to extend gains, as lower US bond yields and concern about the eurozone debt crisis prompted investors to seek safety in the Swiss
      Reuters; REUTERS  -  473 words
    • 110 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 149.9 0.9 GLD 10US$ ***** 120.2 0.7 DBXT MSKorea 10US$ 5899 117.6 1.6 Jardine C&C 3684 90.0 2.5 DBXT E50 10US$ 4077 86.6 1.7 IS S&P500 ***** 82.7 0.5 F N.ES.1012 653 45.0 7.4 DairyFarm 933 42.7 3.7 SembMar.ES.1012 536 40.0
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    • 125 6 BY CENTS CLOSE DOWN DBXT iBoxxUSTr 5US$ *****-492.5 -2.0 CIMBAsean40 100US$ 1023 -34.9 -2.6 DBXT FTVietnam 10US$ 3650 -12.9 -0.3 STI 3150BNPePW*****5 17.5 -6.5 -27.1 DBXT MSTHAI 10US$ 1611 -6.5 -0.3 DBXT S&P Short 10US$ 4505 -6.5 -0.1 CityDev 1272 -6.0 -0.5 Wilmar 563 -6.0 -1.1 SIA Engg 423
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 39 7 All about financing and profit and everything in between 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
      39 words
    • 365 7 BUY IT• SELL IT• FIND IT MATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES IN THE MATTER OF COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ALPS ASIA PTE LTD REG NO. *****4437Z (In Members’Voluntary Liquidation) NOTICE OF FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of
      365 words
    • 438 7 SCINTRONIX CORPORATION LTD. (Incorporated in the Republic of Singapore) (Company Registration No.: *****1719E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Scintronix Corporation Ltd. (Company) will be held at Seletar Country Club, Kingfisher III at 101, Seletar Club Road, Singapore *****3 on 14
      438 words

  • SINGAPORE NEWS
    • 592 8  -  35% offer such arrangements, up from 25% in 2007: MOM survey By TEH SHI NING EMPLOYERS seem to be responding to greater demand for work-life balance, with more now offering options such as part-time work or teleworking. But such employers remain a minority of 35
      592 words
    • 344 8  -  Figure is highest number on record for that month By TEH SHI NING SINGAPORE welcomed 963,000 tourists in November as stronger Asian tourism pushed visitor numbers 16.1 per cent higher from a year ago. This is the highest number on record for the month
      344 words
    • 171 8 SOME 800,000 HDB households can expect an early red packet next year, with $80 million in Utilities-Save (U-Save) rebates announced. The first payout of $50 million will take place in January, while the second tranche of rebates worth $30 million will be paid
      171 words
    • 318 8  -  By LYNN KAN LAW firm WongPartnership is one of three new confirmed tenants in Tower 3 of Marina Bay Financial Centre (MBFC) and will occupy about 93,000 square feet, or three floors of office space. When Tower 3 is completed in
      318 words
    • 160 8 NATIONAL industrial infrastructure developer JTC Corporation yesterday said it will launch a public tender for a 1.24 ha industrial site in Ubi on the reserve list. This comes after it accepted an application from a developer to put the site on sale.
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    • 384 8  - Drop in transport storage services’ receipts Last year’s $70.9b was 16.2% lower than 2008’s By LYNN KAN THE transport and storage services industry generated $70.9 billion in operating receipts in 2009, about 16.2 per cent lower than the $84.7 billion in 2008. Data compiled by the Department of Statistics (DOS)
      384 words
    • 199 8 SOME 40 members of Rotary and Rotaract clubs in Singapore and Malaysia walked 23km yesterday from Woodlands Central to the Singapore Island Country Club at Sime Road. The six-hour trek was the final leg of a walk that began in Alor Setar, Malaysia,
      199 words
    • 472 8  -  By UMA SHANKARI THE 20-year old Chinatown Point retail and office complex is set to get a new lease of life after a planned $75 million major asset enhancement programme. The consortium of investors that bought 283 stra-ta-titled retail units and four office units in
      472 words
  • Page 8 Advertisements
    • 25 8 tabla! readers share their wishes for the coming year PRIYANKA’S NOT READY FOR MARRIAGE GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS (WHILE STOCKS LAST)
      25 words

  • ECONOMY WATCH
    • 621 9 Stellar performance for a second straight year led by highest ever issuance of junk-rated debt Bloomberg [NEW YORK] Corporate bond sales worldwide topped US$3 trillion for a second straight year, led by the highest ever issuance of junk-rated debt, as borrowers locked in the lowest
      Bloomberg  -  621 words
    • 470 9 AFP [LISBON] Portugal plans to issue about 20 billion euros (S$34.2 billion) in bonds next year, including six billion in the first quarter, to satisfy the government’s financing needs, the state debt management agency said on Wednesday. “The borrowing needs of
      AFP  -  470 words
    • 468 9 Resumption of issuance activity closely watched Reuters [HONG KONG] Asian credit markets are looking to end the year on a strong note, driven by the region’s strong fundamentals and by investors seeking higher returns in a low rate environment. But
      Reuters  -  468 words
    • 160 9 Bloomberg [HANOI] Vietnam’s government pledged to strengthen economic stability and control inflation, creating a “solid” base for gross domestic product to expand by as much as 7.5 per cent next year. In a statement posted on the Cabinet’s website, Prime Minister Nguyen Tan Dung said
      Bloomberg  -  160 words
    • 433 9 Reuters [SEOUL] South Korea’s factory output and service-sec-tor activity expanded in November in a sign of the economy’s resilience in the face of cooling global demand, cementing expectations that interest rates will rise early next year. The figures indicated that the economy
      Reuters; REUTERS  -  433 words
  • Page 9 Advertisements
    • 109 9 A Spectacular Farewell To 2010 Welcome the dawn of the New Year and let the extravaganza begin as the holiday spirit comes alive. On New Year's Eve, bid farewell to 2010 with an extravagant gala dinner and proceed to party the night away in the Atrium. Make a celebratory toast
      109 words

  • MALAYSIA
    • 512 10  -  By LEE U-WEN MALAYSIA will enjoy a three-day weekend this week after Prime Minister Najib Razak declared today a public holiday to celebrate the country’s biggest football achievement. Mr Najib made the announcement in a statement to national news agency Bernama on Wednesday night,
      AT  -  512 words
    • 533 10  -  They didn’t likely concur on how postmerger entity will be run as both are of nearly equal size By PAULINE NG SHARES of IJM Land fell by 12 per cent to RM2.84 yesterday after its proposed merger with Malaysian Resources Corporation Bhd (MRCB) was called
      533 words
    • 712 10  -  By S JAYASANKARAN in Kuala Lumpur FOR Malaysia’s ruling Barisan Nasional (BN) coalition, 2010 has been the year of the comeback. Four by-elections have been held this year. The BN won on three seats, two of which had been
      712 words
  • Page 10 Advertisements
    • 1866 10 :»ATci Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES UBS (Lux) Key Selection SICAV Registered Office: 33A avenue J.F. Kennedy, B.P. 91, L-2010 Luxembourg Registre de commerce: Luxembourg B 88.580 TVA Identification number: LU 218 434 28 Phone number *****0 6051 Fax number *****0-6249 NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS The
      1,866 words
    • 480 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SOMERSET (VIETNAM) INVESTMENTS PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****6632G) NOTICE OF RESOLUTIONS At the Extraordinary General Meeting of Somerset (Vietnam) Investments Pte Ltd duly convened and held on the 27th day of
      480 words

  • GREATER CHINA/INDIA
    • 641 11 Moderating growth may see govt stick to gradual monetary tightening Reuters [BEIJING] Chinese inflation showed signs of cresting in a manufacturing survey yesterday, an early indication that the government will be able to stick to its course of gradual rather than aggressive
      Reuters; AFP  -  641 words
    • 292 11 Bloomberg [MUMBAI] Carrefour SA, the world’s second-largest retailer, has opened its first wholesale store in India as it seeks to expand in emerging economies amid increased competition that is crimping margins in developed markets. The store, which has a sales area of
      Bloomberg  -  292 words
    • 397 11 AFP Reuters [BEIJING] China is considering new export quotas on rare earth alloys, a report said yesterday a move that would further restrict shipments of the minerals used in a variety of high-tech industries. So far, China has issued a single
      AFP; Reuters  -  397 words
    • 407 11 Higher vegetable, petrol prices likely to push up headline inflation data in Dec Reuters [NEW DELHI] India’s food inflation accelerated to a 10-week high in midDecember on rising prices of vegetables, while the fuel index also rose, adding to inflationary worries in Asia’s third-largest
      Reuters  -  407 words
    • 765 11 Azim Premji’s charity gift a challenge to other billionaires AFP [NEW DELHI] A huge charity gift by a high-tech tycoon has shone a harsh light on the philanthropic track record of India’s established and emerging billionaires. Azim Premji, who transformed a family-owned
      AFP  -  765 words
    • 384 11 Move to track forex speculation as local unit hits 13-year high against dollar AFP [TAIPEI] Taiwan’s financial regulator said yesterday that it would set up a task force to inspect banks’ use of foreign cash inflows to check for forex speculation,
      AFP  -  384 words

  • WORLD
    • 713 12 Americans clicked up record US$30.8b in online holiday sales in ‘10: survey AFP [NEW YORK] A blizzard in the US Northeast this weekend postponed about US$1 billion in holiday retail sales by keeping shoppers out of stores in the days after Christmas, research
      AFP  -  713 words
    • 462 12 Bloomberg [NEW YORK] Blackstone Group, the world’s largest private equity firm, has made a preliminary bid for the assets of Australian shopping mall owner Centro Properties Group, according to a person briefed on the offer. Melbourne-based Centro which manages A$18.6 billion (S$24.4 billion) of
      Bloomberg  -  462 words
    • 470 12  -  Company tells users it’ll improve software and recovery process By LEE U-WEN [SINGAPORE] Skype says a software glitch was the main cause of the major outage that affected a majority of its customers worldwide last week. In a blog post yesterday, the Internet calling and
      470 words
    • 716 12 Furore comes as country assumes EU presidency AP [BUDAPEST] For decades Hungary was one of Eastern Europe’s most democratic nations, leading former Soviet countries in adopting the political and economic norms of the free world. But a series of restrictive new laws passed by
      AP  -  716 words
    • 469 14 Claims for jobless benefits drop last week to lowest level since July 2008 LATEST US DATA AFP Bloomberg [WASHINGTON] The number of contracts to buy previously owned homes rose more than forecast in November, a sign sales are recovering following a post-tax credit
      AFP; Bloomberg  -  469 words
    • 271 14 Bloomberg [BANGKOK] Thailand’s current account surplus narrowed in November as imports grew faster than exports, reducing the excess in the trade account. The country recorded a current account surplus of US$1.02 billion last month, compared with a revised surplus of US$2.74 billion in
      Bloomberg  -  271 words
    • 483 14 200,000 more likely to come to Britain to live, work, study Reuters [LONDON] Around 200,000 more people are likely to come to Britain to live, work or study than leave the country next year, keeping net migration broadly unchanged from recent years,
      Reuters  -  483 words
    • 364 14 Bloomberg [DUBLIN] Irish domestic lenders increased their reliance on European Central Bank (ECB) funding by 13.7 per cent in November, as the state applied for an international bailout. The ECB funding reliance of domestic lenders, including Irish and for-eign-owned retail banks, rose
      Bloomberg  -  364 words
    • 584 14 Reuters [TOKYO] Japanese households have slowed their sales of gold to bullion dealers, resisting the temptation of record prices to hold out for greater profits next year if international and domestic gold markets rally more. Japan is on track to be a net
      Reuters  -  584 words
    • 322 14 AFP [MADRID] Many mothers-to-be in Spain are desperately trying to have their babies early to beat a year-end deadline for a 2,500 euro (S$4,260) “cash-for-kids” benefit, sparking alarm among doctors. Mothers who give birth today will secure the cash. But those who deliver
      AFP  -  322 words
    • 230 14 Reuters [NEW YORK] The US securities regulator is looking into trading in private-ly-held Internet companies including Facebook and Twitter, media reports said, citing people familiar with the inquiry. The Securities and Exchange Commission (SEC) has sent letters to several people trading in
      Reuters  -  230 words
  • Page 12 Advertisements
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      21 words

  • ASIA-PACIFIC/WORLD
    • 668 13 Demand from China and India to boost metal prices and investor interest Bloomberg [MELBOURNE] Global initial public offerings (IPOs) by mining and basic material companies may reach a record next year, after the biggest gain of any industry in 2010, as China
      Bloomberg  -  668 words
    • 543 13 The bank is looking to tap into the African market Bloomberg [TOKYO] Sumitomo Mitsui Financial Group Inc is targeting about 600 billion yen (S$9.4 billion) in wealth management assets through its tie-up with Barclays Plc, betting Japanese will move away from traditional
      Bloomberg; FILE PHOTO  -  543 words
    • 757 13 Reuters [JOHANNESBURG] South Africa’s ascension to the BRIC group of major emerging economies was more about politics than economics and reflects expectations it will be the gateway for investment in the fast-growing continent. South Africa, with a US$285 billion economy, a
      Reuters  -  757 words
    • 406 13 Bloomberg [SINGAPORE] The US dollar will keep its reserve status in 2011 because China and Europe aren’t developed enough for their currencies to replace it, according to Pacific Investment Management Co (Pimco), which runs the world’s biggest bond fund. “Rising powers such as China
      Bloomberg  -  406 words
    • 374 13 Sony wants to block LG from shipping phones to the US Bloomberg [WASHINGTON] Sony Corp, Japan’s biggest exporter of consumer electronics, filed patent-in-fringement claims seeking to block LG Electronics Inc from shipping mobile phones to the US. Sony filed the complaints on Tuesday with
      Bloomberg; REUTERS  -  374 words


  • AVIATION/SHIPPING
    • 809 15 Flights are so full that there is no room for quick recovery: analysts Bloomberg [WASHINGTON] The US aviation system’s struggles to recover from snowstorms that closed New York’s airports this week reflect the unintended consequences of airlines’ efforts to squeeze out costs.
      Bloomberg; AP  -  809 words
    • 309 15 Airline halts ban on musical instruments as cabin luggage AFP [SYDNEY] Australian musicians said yesterday they had scored a victory against Qantas, after a Facebook campaign helped persuade the airline to scrap a ban on carrying instruments as cabin luggage. Jazz saxophonist Jamie Oehlers
      AFP  -  309 words
    • 169 15 Bernama [BUTTERWORTH] The Association of Malaysian Hauliers (AMH) has urged the Transport Ministry to intervene in the move by the Malaysia Container Depot Association (MCDA) to impose a RM5 (S$2.10) fee for every container that is returned to or taken from their depots.
      Bernama  -  169 words
    • 302 15 Bloomberg [DUBAI] DP World Ltd will hand over the management of Abu Dhabi’s Mina Zayed port operations to Abu Dhabi Terminals in January and the Dubai-based company said it didn’t reach a binding accord to manage the new Khalifa Port. “The Ebitda
      Bloomberg  -  302 words
    • 378 15 European carriers’ passenger traffic rose 7.3% in Nov, down from 9.4% growth in Oct Bloomberg AFP [STOCKHOLM] Air traffic growth slowed in November, led by European carriers because of the cold weather that disrupted flights towards the end of the month, the
      Bloomberg; AFP  -  378 words
    • 336 15 Moscow region still without electricity after heavy snowfall Reuters [MOSCOW] Prime Minister Vladimir Putin banned Moscow aviation officials on Wednesday from going on their New Year holiday after two of the city’s major airports descended into chaos. Angry holidaymakers beat up staff
      Reuters  -  336 words
  • Page 15 Advertisements
    • 134 15 SOUTH EAST ASIA AND SOUTH ASIA AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE BUNKER ADJUSTMENT FACTOR (BAF) Arising from the regular review of bunker prices, the following Lines in the South East Asia and South Asia Australia Trade Facilitation Agreement wish to inform the trade that with effect from 1
      134 words
    • 234 15 Notice to the Trade Asia New Zealand Discussion Agreement Introduction of common BAF (Bunker Adjustment Factor) in the trade between Korea, China, Taiwan, Hong Kong, Singapore, Indonesia, Malaysia, Philippines, Thailand, Vietnam and New Zealand. Members of the Asia New Zealand Discussion Agreement (ANZDA) wish to advise that they have decided
      234 words

  • EDITORIAL & OPINION
    • 456 16 EDITORIAL ON Christmas Day 2009, a passenger boarded a flight at Schipol airport in Amsterdam bound for Detroit in the United States with explosives concealed in his underwear. Fortunately, he failed to detonate them properly and the flight went ahead. But a lesson was learned.
      456 words
    • 1027 16  -  Branches will stay relevant as long as they offer customers a benefit other channels can’t By RAHEEL AHMED The writer is the group head of Distribution Channels at Standard Chartered Bank REMEMBER when they said a few years ago that the bank branch is
      STOCK.XCHNG  -  1,027 words
    • 763 16  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group I RECEIVED my Medicare card the other day, recognising my 65th birthday and making me part of one of America’s biggest problems. By this, I mean the burden that the massive baby-boom generation
      The Washington Post Writers Group  -  763 words
    • 1362 17  -  Both talk past each other, each pursuing policies that are less than helpful to the other and sub-optimal for themselves By GEORGE SOROS The writer is a Hungarian-American financier, businessman and notable philanthropist Project Syndicate ItweeChinaworrmentpressyuan,N 2010, economic conflict between the United States and
      Project Syndicate; REUTERS  -  1,362 words
    • 850 17  -  By ANATOL LIEVEN The writer is a professor in the War Studies Department at King’s College London and a senior fellow of the New America Foundation in Washington. His next book, ‘Pakistan: A Hard Country’, will appear in April 2011 IHT NEWS
      IHT; AP  -  850 words


  • SINGAPORE STOCKS
    • 9059 18 Transaction date: Dec 30 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 unch 379 19.5 18.5 19 19.5 1.7 9.5 6.1 91 12 4.5 5834
      9,059 words
    • 1657 19 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 7 4 1181 t AA Grp 5 4 5 27.8 4.8 225 130 6222 t APStrategic 185 164 185 109.8 4 0.5
      1,657 words
    • 9478 19 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.32/ 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 WM
      9,478 words
    • 859 19 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 $mil 124 107 6389 ABF SG Bond ETF 111.5 -0.5 10 111.5 111.5 109 111.5 509 1056 761 CIMBAsean40 100US$ US1023 -27 52 1036 1023
      859 words
    • 250 19 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 $mil 56 38 6000 AVJennings A47.5 47.5 51.5 3.6 7.4 3.8 123.7 55 16 6017 Genting HK US$ US44.5 unch 8903 44.5 44 44 44.5 2930.1
      250 words


  • FINANCE & COMMODITIES
    • 374 20 In local curr In S$ In US$ dy yr dy yr dy yr Dec 29 Index Change Change Change Change Change Change World Index Preliminary 903.9 0.2 8.6 0.0 1.0 0.3 9.5 EAFE Preliminary 811.4 0.3 3.4 0.2 -3.5 0.4 4.6 Europe Preliminary 1186.6 0.2
      374 words
    • 177 20 Dec 30 $S Offer Bid 0vernight 0.05 0.03 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.08 US$ Offer Bid 7 days 0.35 0.25 1 month 0.40 0.30 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
      177 words
    • 22 20 Dec 30 S$ Bid Offer 1-month 1.2925 1.2936 2-months 1.2925 1.2936 3-months 1.2926 1.2936 6-months 1.2925 1.2935 Source: OCBC
      22 words
    • 150 20 Dec 30 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 11 501.0 498.0 500.0 59 Feb 11 501.0 495.0 501.0 42 Mar 11 495.0 495.0 501.0 6 Apr 11 495.0 495.0 501.5 4 May 11 501.5 Jun 11
      150 words
    • 88 20 Dec 30 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 103.47 103.51 103.51 5-Year N*****0S 2.875 01.07.2015 106.43 106.47 106.45
      88 words
    • 107 20 Dec 29 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1366.00 1375.75 1377.50 1363.50 Mar 11 1377.00 1387.00 1389.00 1374.75 May 11 1384.00 1393.50 1395.50 1382.00 Jul 11 1386.50 1396.00 1398.00 1385.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 11 56.38
      107 words
    • 77 20 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$/barrel Opec Oil
      77 words
    • 2516 20 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2 1 3 -23 3.25 0 AFP Properties EW*****8 33.5 1 1169 1 10 -5 1.37 59 6221 Asia-Pacific Strategic W*****6 32.5 -0.5 59 1
      2,516 words
    • 121 20 Dec 30 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.361 1.284 Can dollar 1.316 1.266 Euro 1.743 1.676 Sterling pound 2.044 1.966 NZ dollar 1.021 0.973 US dollar 1.312 1.262 Local dollars to 100 units of foreign
      121 words
    • 27 20 Dec 30 Open High Sett STI Dec 3212 SIMSCI Dec 380.5 381.2 380.8 Taiwan Dec 315.9 317.4 315.4 Source: MF Global (S) Pte. Ltd
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    • 71 20 Dec 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 11 3768 3814 3814 3750 666 3269 Feb 11 3773 3820 3805 3748 1224 ***** Mar 11 3735 3788 3792 3707 9782 ***** Apr 11 3707 3768
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    • 415 20 Dec 30 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar11 99.6200 0 3621 Jun11 99.5350 0 1709 Sep11 99.3900 0 985 Dec11 99.1900 0 311 EUROYEN TIBOR FUTURES Mar11 99.6550 0 2059 Jun11 99.6400 0 1389 Sep11 99.6250 0 1064 Dec11 99.6200 99.6350 99.6200 99.6150 100
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    • 464 20 Dec 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.018 6.725 0.769 7.928 45.743 91.517 0.830 11.552 3.141 1.326 87.285 44.628 1.317 6.740 0.956 29.584 30.714 0.656 1.019 Canada 0.983 6.608
      464 words
    • 85 20 Dec 30 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 20 Dec 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3163 1.3179 1.0183 1.0188 Canadian dollar 1.2936 1.2948 1.0008 1.0009 Euro 1.7110 1.7127 1.3237 1.3240 NZ dollar 0.9927 0.9943 0.7680 0.7686 Sterling pound 2.0059 2.0078 1.5518 1.5521
      154 words
    • 139 20 GOLD (US$/oz) Dec 30 Dec 29 Hong Kong 1415.00 1405.00 Dec 28 Dec 29 London 1403.95 1410.65 1404.95 1411.45 Source: Thomson Reuters CAST BAR Dec 30 (S$) Selling Buying Kilobar 62,792.95 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 141 59 5gm 399 293 10gm 713 586 20gm
      139 words
    • 69 20 Dec 29 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2444.50 2403.50 3 months 2455.00 2412.00 Copper, Grade A (US$/tonne) Cash 9447.00 9397.00 3 months 9400.00 9346.00 Lead (US$/tonne) Cash 2536.00 2429.50 3 months 2530.00 2430.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 82 20 Dec 29 COCOA (£/tonne) Close Prev High/Low Mar 11 2053 2036 2057/2007 May 11 2063 2042 2066/2017 Jul 11 2077 2056 2080/2034 Sep 11 2082 2062 2084/2037 COFFEE (US$/tonne) Close Prev High/Low Jan 11 1995 1970 2004/1973 Mar 11 2024 1997 2033/1997 May 11 2040 2010 2049/2010 Jul 11
      82 words
    • 5614 21 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
      5,614 words


  • Page 22 Advertisements
    • 28 22 r FREIGHT FORWARDER urgently needed by shippers 1 Can they find your here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      28 words

  • executive lifestyle
    • 1287 23  -  We take a tongue-in-cheek look at what the New Year resolutions of newsmakers, most with foot-in-mouth afflictions, would be. By JAIME EE and DYLAN TAN be. By JAIME EE ,DYLAN TAN IT’S the last day of 2010 have you ever wondered what your final thought of
      PHOTO MONTAGE: LUDWIG ILIO  -  1,287 words
    • CINEMA
      • 390 24  -  24 By CHRISTOPHER LIM THERE’S disagreement over whether physical discs or downloadable movies will be the future of entertainment, but discs were very much relevant this year. Sherlock Holmes is a great example of how to put together a Blu-ray release. The movie was a
        390 words
      • 962 24  -  Cerebral, riveting storytelling from Hollywood’s top talent made 2010 a good year, writes GEOFFREY EU TOP 10 HOLLYWOOD MOVIES GEOFFREY EU IN A year when he was named Time magazine’s Person Of The Year, it’s somehow fitting that 26-year-old Facebook co-founder Mark Zuckerberg
        PHOTOS: AP, GOLDEN VILLAGE  -  962 words
      • 1078 24  -  TOP 10 ASIAN MOVIES By DYLAN TAN WITH money pouring in from its neighbour, the Hong Kong film industry grew from strength to strength with a bumper crop of blockbusters this year. Most of it was formulaic (14 Blades), some were disappointing (Bruce Lee,
        1,078 words
    • MUSIC/CINEMA
      • 604 25  -  The best albums this year are made-in-Singapore instrumental releases, as polished and brilliant as any world-class production, writes CHRISTOPHER LIM 2010 BEST CD RELEASES CHRISTOPHER LIM BEMOAN the state of the global music recording industry if you must, but there were plenty of good albums released this
        FILE PHOTO  -  604 words
      • 677 25  -  By GEOFFREY EU HAVING played a sexy CIA agent whose skills include using her underwear to get out of a sticky situation (Salt), Angelina Jolie changes accents and affiliations in The Tourist where she’s still an international woman of mystery and still in
        AP  -  677 words
      • 545 25  -  By DYLAN TAN GOOGLE the sword-fighting comedy Just Call Me Nobody and you’re likely to see many similar versions of the same poster except that the main star in the spotlight differs from country to country. The local version features comedian Mark Lee prominently
        545 words
      • 717 25  -  By DYLAN TAN THE Chinese box office looks set to surpass its milestone 10 billion yuan (S$2 billion) mark today, the figure boosting the industry’s confidence where many of its homegrown titles have broken new records this year and pushed its tally to a historic high.
        717 words
    • ARTS/BOOKS
      • Article, Illustration
        812 26  -  The 2011 arts calendar opens with a bang, with the M1 Fringe Festival setting the stage for strong performances and works in January, reports CHEAH UI-HOON CHEAH UI-HOON THOSE who take the bus would have seen some of these by now on JCDecaux boards at bus stop shelters
        PHOTOS: M1 FRINGE FESTIVAL  -  812 words
      • 364 26 Plays to mark in your diary for January: What Did You Learn Today? Sean Tobin Natalie Hennedige M1 Fringe Festival Commission/ Co-presented with The Arts House Jan 13 to 15, 8pm; Jan *****1, 3pm Play Den, The Arts House $30/$19 (Sistic) Two former collaborators with
        364 words
      • 670 26  -  By GEOFFREY EU DISCOVERING a great cookbook recipe is one thing, but preparing a dish in a way that has been passed down through generations is a completely different matter. In fact, when it comes to heritage cuisine, it’s more about preserving traditions and cooking
        PHOTOS: MIELE  -  670 words
      • AROUNDTOWN
        • 363 26 THERE is no shortage of ways to bid goodbye to 2010 and usher in the new year. Aroundtown lists the variety of ways you can belt out Auld Lang Syne, or not, for the New Year 2011 Countdown. Given the new city skyline at
          363 words
        • 152 26 Make your year-end party a Night at the Museum experience at the Asian Civilisations Museum in Empress Place. The 91.3 Countdown ACM 2011 returns this year with carni-val-style activities from 7pm to 12am tonight with samba dance performances, mime artists, circus acts and street dance medleys
          152 words
        • 284 26 The newly opened Sands SkyPark, 200m above ground, promises to be the most unique venue to watch the spectacular firework display at Marina Bay and usher in the New Year. Tickets priced at S$200 come with two complimentary glasses of champagne, canapes and a Marina Bay Sands party
          284 words
        • 112 26 If your idea of a year-end countdown is to start counting down in the afternoon, head down to Siloso Beach where Cafe del Mar has lined up the DJs to keep you musically entertained from 12pm right up to 6am in that 1.2km of beach space.
          112 words
        • 161 26  -  Compiled by CHEAH UI-HOON Touted as the architect of Tech Trance, Marco V (Ned) will be putting up a four hour special at Zouk (Jiak Kim Street) Admission for non-mem-bers is $40 inclusive of two drinks. Lunar Asian Fusion bar (Blk 3C, The Cannery at Clark Quay,
          161 words
    • WINE/PURSUITS
      • 1226 27  -  The 2009 vintages have seen a tsunami-like surge in prices and it is believed that next year will be an aggressive year for fine wines, writes N K YONG 2010 BEST WINES N K YONG I DARESAY that 2010 will be known as
        1,226 words
      • 650 27  -  Mass Effect 2 Rating: A StarCraft II: Wings of Liberty Rating: A Veggie Samurai Rating: B+ Aralon: Sword and Shadow Rating: B 2010 TOP VIDEO GAMES By CHRISTOPHER LIM IT HAS been a strong year for video games, with enough top-notch execution to make up for any
        650 words
    • FESTIVALS AROUND THE WORLD
      • 1290 28  -  Whether it’s spending time with Santa, skating, feasting or hunting down Fendi bags, London brings good tidings. By DEBBIE YONG By DEBBIE YONG The writer is a former journalist now doing a double degree in global media and communications at the London School of
        DEBBIE YONG; AFP; REUTERS  -  1,290 words
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  • Page 27 Advertisements
  • Page 27 Miscellaneous
    • 308 27 CRYPTIC CROSSWORD Across 1 Obtained directly from leading worker (5-4) 6 Bill about land (4) 10 Release a Parisian woman (5) 11 Work quietly on alternative melody conveniently presented (9) 12 Disagreeing about one point whilst trying to be amusing (9) 14 Danish essayist? (5) 15 Sportsman on half-pay? (4-3)
      308 words

  • Page 28 Advertisements
    • 218 28 Best Rate Guarantee Country Best Available Rales Featured Promotions Partnership Programmes r Bahrain Belgium China France Georgia Germany Exc usive Member Dea s Best Rate Guarantee India Indonesia Japan Korea, South Malaysia Philippines Qatar Singapore Spain Thailand United Arab Emirates United Kingdom Vietnam Tbilisi Tianj ■H Tokyo Xi'an More.. Aix
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    • 12 28 Brought to you by Ascott This series is brought to you by
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