The Business Times, 13 December 2011

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Total Pages: 32
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Tuesday, December 13,
    23 words
  • 776 1  -  Sing dollar rebound likely in H2 2012 with growth pickup, easing of global risk By EMILYN YAP [SINGAPORE] The US dollar is turning out to be this year’s comeback kid as investors re-embrace havens, and there may be enough fear left in the
    776 words
  • 605 1  -  Former Malaysian prime minister reveals plans for 42.7% stake sale to DRB-Hicom By PAULINE NG in Kuala Lumpur MALAYSIA’S national car company has taken a fork on the road that could change its fortunes. Proton Holdings rose 6 per cent to
    BLOOMBERG  -  605 words
  • 142 1 GST INDEX 2,701.72 (+7.12) GST INDEX FUTURES 2,696.00 (+7.00) GSIMSCI 307.04 (+1.28) GSIMSCI FUTURES 305.70 (+1.20) FOREX US$ S$ US$ (S$ per US$) 1.296 (US$/S$ per 1.556 2.017 EURO (US$/S$/E) 1.331 1.726 Foreign currency per US$ S$ YEN 77.60 59.90 RM 3.156 2.434 HK$ 7.781 6.003 BAHT 31.03
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  • Page 1 Advertisements
    • 74 1 SME Inc Turning waste into wealth PAGE 11 COMPANIES Asian M&A buyers keep eye on price trend PAGE 5 CYBERSPACE Surge in attacks on energy sector computers PAGE 21 PROPERTY Investment sales surge 42% in Q4 PAGE 2 PATEK PHILIPPE GENEVE Begin your own tradition. m THE HOURGLASS SINGAPORE TAKASHIMAYA
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    • 3 1 8 '*****1 *****4
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  • TOP STORIES
    • 397 2 Dr M’s remark drives Proton’s shares MALAYSIA’S national car company has taken a fork on the road that could change its fortunes. Proton Holdings rose 6 per cent to RM4.23 yesterday after its adviser and former prime minister Mahathir Mohamad said that Khazanah Nasional plans to sell its
      397 words
    • 946 2  -  Market is expected to moderate in the next few quarters By KALPANA RASHIWALA [SINGAPORE] Investment sales of property have hit about $6.8 billion so far this quarter, up 42 per cent over the Q3 figure of $4.8 billion. The latest figures from Savills
      946 words
    • 84 2 IN the report “Agents step up marketing of commercial, industrial units” (BT, Dec 12), we said that City Developments (CDL) was offering relief packages at selected projects in the wake of new government measures to cool the residential market. This information was gathered by BT from its own sources,
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    • 676 4  -  Protracted building delays, funding woes drive SSC to end project deal By LYNN KAN [SINGAPORE] Piles have already been driven into the soil, but no one knows when the Changi Motorsports Hub (CMH) will be more than just steel in the ground.
      FILE PHOTOS  -  676 words
    • 319 4 [SINGAPORE] UK-based banking group Standard Chartered (Stanchart) will be welcoming the first Singaporean to its board next year. It said yesterday that it will appoint V Shankar, regional chief executive for Europe, Middle East, Africa and Americas, as group executive director with effect
      319 words
    • 605 4  -  Consultation started, licences may be awarded by 2013 By RONNIE LIM [SINGAPORE] Once it’s all systems go, electricity imports into Singapore aimed at diversifying the energy mix here, both in terms of fuel type and supply sources could start from 2017-2018, says the Energy
      605 words
    • 548 4  -  By VICTORIA HO [SINGAPORE] A new national system for securing online transactions was launched yesterday. The system aims to make it more difficult for hackers to break into user accounts by providing users a token device that is needed in order to log
      548 words
    • 425 4 Reuters [PARIS] All major economies are losing momentum, the Organisation for Economic Cooperation and Development said yesterday, with economic activity across OECD countries at its weakest in two years. The Paris-based organisation’s October composite leading indicator (CLI) for its member states
      Reuters  -  425 words
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    • 15 4 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices B6ATS NOTICES
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  • COMPANY NEWS
    • 766 5  -  M’sia IPO market to stand out in 2012 as investors are flush with cash: banker By JAMIE LEE ACTIVE mergers and acquisitions discussions are going on in the region, but Asian buyers are still watching if prices will head deeper south
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    • 881 5 Bloomberg [CHICAGO] Hedge funds cut bullish bets on agricultural prices to the lowest level in more than two years on signs of expanding global supplies. A measure of speculative positions across 11 products from wheat to coffee to cattle fell
      Bloomberg; REUTERS  -  881 words
    • 466 5  -  By LYNETTE KHOO C&G Environmental Protection Holdings has received the green light from the Singapore Exchange (SGX) to waive a condition that the boards of its principal subsidiaries should have at least one independent director (ID) residing in Singapore. C&G said
      466 words
    • 326 5  -  By FELDA CHAY THE Singapore Mercantile Exchange (SMX) has appointed V Hariharan as its chief executive officer, six months after its previous chief Thomas McMahon resigned. Mr Hariharan had been acting as the interim CEO of the commodities exchange since Mr McMahon stepped
      326 words
    • 568 6  -  Shipbuilder could have new yard in Shanghai by 2012, analyst says By KENNETH LIM YANGZIJIANG Shipbuilding Holdings took another step yesterday towards diversifying into offshore building, but it will need more help to execute its plan, analysts said. Mainboard-listed Yangzijiang, a builder of
      568 words
    • 467 6  -  By JOYCE HOOI THE pickings for 2012 are set to be slimmer for all three telecommunications players here, as people text and talk less but consume more data which carry lower margins, according to the latest report from Fitch Ratings. The smartphone
      AFP  -  467 words
    • 592 6 UK publishing group to sell its 50% stake for £450m Reuters [LONDON] British publishing group Pearson is to sell its 50 per cent stake in the FTSE International to the London Stock Exchange (LSE) for £450 million (S$912.8 million) as part of its drive
      Reuters  -  592 words
    • 328 6  -  By KENNETH LIM LEE Boon Yang, recently named non-executive chairman of Singapore Press Holdings (SPH), is unlikely to face a conflict of interest even if the property arms of SPH and Keppel Corp compete for land, SPH said. The question arose because Dr Lee
      328 words
    • 319 9  -  Move follows aborted rescue by Indonesian firm Prima Andalan By LYNETTE KHOO CREDITOR banks have slapped statutory demands on beleaguered FibreChem Technologies, after an investment rescue plan for the group failed to take shape. Lawyers acting for United Overseas Bank and a consortium of local
      319 words
    • COMPANY BRIEFS
      • 81 9 SINGAPORE’S Neptune Orient Lines (NOL), the world’s sixth largest container shipping firm, reported yesterday a 14 per cent fall in average revenue per container due to lower rates in major trade lanes. NOL said the average revenue per forty-foot equivalent unit (FEU) during
        81 words
      • 112 9 A SUBSIDIARY of GRP Ltd, GRP (China) Pte Ltd, is selling its respective stakes of 75 per cent in Suzhou Xinghai Plastic Products Co Ltd and 25 per cent in Shanghai Xinda Building Material Co Ltd for 8.3 million yuan (S$1.7 million)
        112 words
      • 43 9 MUTUAL fund company Global Investments said two of its subsidiaries have agreed to sell their respective Boeing 757-200 aircraft, which will result in a net accounting gain of about US$2.65 million for the year ending 2013. Reuters
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    • 489 9 Bloomberg [BANGKOK] Thailand, Indonesia and Malaysia, which account for about 70 per cent of natural-rubber output, plan to set up a regional physical market to try to create a new benchmark for the commodity, according to a trade group. The market would help
      Bloomberg; REUTERS  -  489 words
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  • SINGAPORE MARKETS
    • 583 8  -  STI’s rise of 7.12 points to 2,701.72 is due almost wholly to the eight-cent gain in the stock of SingTel STOCKS R SIVANITHY Senior Correspondent FRIDAY’S bounce in Western markets initially led to firmer prices in Singapore yesterday but scepticism over the effectiveness of
      Source: Bloomberg  -  583 words
    • 4 8 DAILY
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    • 65 8 Dec 12 VALUE CLOSE BT OB/OS -182.00-124.00 BT CADI -*****.00 -43.00 BT 10-day MA -*****.00 -18.00 FTSE ST Mid Cap 592.61 -0.26 FTSE ST Small Cap 401.48 -1.95 FTSE ST All Share 646.86 +1.10 FTSE ST China Top 189.13 -1.18 FTSE ST China 223.66 -1.06 FTSE ST
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 8 4 0 0 0 3 8 4 Manufacturing 37 56 38 4 10 6 41 66 44 Commerce 15 10 19 2 4 4 17 14 23 Tpt/Stor/Comms 13 14 10
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    • BROKERS’ TAKE
      • Article, Illustration
        421 8 Dec 12 close: $1.315 OCBC INVESTMENT RESEARCH, Dec 12 SHARP price correction but no cause for alarm bells: Since our last report issued on Nov 14, the share price of Goodpack Ltd fell by almost 21 per cent to its lowest level since February last year. Although the
        Source: Bloomberg  -  421 words
      • 326 8  -  Compiled by LYNETTE KHOO DBS VICKERS, Dec 12 DAMPENER on the residential sector: The recent clampdown on investment demand has heightened risk of policy overhang in the residential sector. This, coupled with the upcoming rise in completed new inventory, has increased risk of structural imbalance in the sector
        326 words
      • 131 8 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first, second, or third quarter
        131 words
    • 121 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 14,976 14,976 40,200 40,200 Manufacturing 116,459 15,995 132,454 103,853 1,855 105,708 Commerce 62,970 1,216 64,186 80,967 295 81,261 Tpt/Stor/Comms 101,516 10,574 112,090 203,507 1,206 204,713 Finance 13,254 13,254 130,630 130,630 Construction 21,762 403 22,165 6,108
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    • 111 8 Stock name Close Change CapMallsAsia 1.230 +0.010 CapitaLand 2.370 +0.020 CapitaMall 1.665 -0.025 CityDev 9.000 ComfortDelGro 1.440 +0.020 DBS Grp 12.010 -0.070 F&N 5.970 +0.040 GLP 1.715 -0.005 Genting SP 1.500 -0.020 Golden Agri 0.710 HK Land 4.700 -0.020 JMH 48.970 +0.060 JSH 30.210 -0.070 Jardine
      111 words
    • 441 8 CURRENCIES Bloomberg [SINGAPORE] India’s rupee led declines among Asian currencies as data showed manufacturing in Asia’s third-largest economy contracted more than economists forecast, adding to concern Europe’s debt crisis is slowing growth. Factory output shrank 5.1 per cent in October, compared with the median
      Bloomberg; BLOOMBERG FILE PHOTO  -  441 words
    • 58 8 VOLUME SingTel 46,334,000 Golden Agri 40,440,000 Noble Grp 31,609,000 Genting SP 27,139,000 GMG Global 24,298,000 Yangzijiang 20,814,000 HPH Trust US$ 20,042,000 HanKore 16,781,000 MDR 16,659,000 Oceanus 14,500,000 VALUE($) SingTel 148,760,400 UOB 51,660,920 DBS Grp 49,474,582 Genting SP 41,094,105 Noble Grp 37,553,120 Golden Agri 28,850,155 CapitaLand 23,778,390 Keppel
      58 words
    • 111 8 BY CENTS CLOSE UP IS S&P500 ***** 304.5 1.9 IS DJ US Tech 6561 82.9 1.0 DBXT MSKorea 10US$ 5305 53.1 0.8 Jardine C&C 4941 41.0 0.8 DBXT MSEurope 10US$ 4016 33.7 0.7 DBXT MSINDO 10us$ 1453 22.0 1.2 Asia Pac Brew 2680 20.0 0.8 DBXT MSINDIA 10US$ 775
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    • 135 8 BY CENTS CLOSE DOWN GLD 10US$ *****-314.9 -1.5 Lyxor MS India 10US$ 1183 -84.2 -5.2 DBXT S&P Short 10US$ 4200 -49.2 -0.9 DBXT MSMSIA 10US$ 1217 -29.8 -1.9 Lyxor Malaysia 10US$ 835 -29.8 -2.7 DBXT FTChina25 10US$ 2633 -28.5 -0.8 IS MSCI India 100 532 -23.3 -3.3 IS LC
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    • 5 8 DAILY
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  • Page 9 Advertisements
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  • SINGAPORE NEWS
    • 475 10  -  Asia will continue to grow while Western economies stall or shrink: economists By CONRAD TAN ECONOMIC growth worldwide will slow sharply next year but Asia will continue to expand while economies in the West stall or shrink, economists say. Even so, Asia’s economies
      475 words
    • 241 10  -  By TAM YU LING ONCE largely based in the US, the venture capital industry is increasing its global dimension with the establishment of new foreign venture capital firms that are independent of the US firms. But while the venture capital industry is
      241 words
    • 619 10  -  Employers turning cautious in uncertain business climate By CHUANG PECK MING IN another sign of growing caution in hiring, the latest Manpower employment outlook for Singapore in the next three months has fallen sharply to its dimmest in more than two years. Singapore’s
      619 words
    • 565 10  -  By RONNIE LIM PLUNGING demand for solar cells arising from eurozone woes plus global oversupply especially from Chinese manufacturers have hit Norway’s Renewable Energy Corporation (REC) which operates a new $2.5 billion plant in Singapore. While it is moving to slash production in
      ST FILE PHOTO  -  565 words
    • 344 10  -  By PANG JIN HU DECEMBER may not turn out to be a carefree season to be jolly for many Singaporeans this time round. In fact, a whopping 62 per cent are likely to be working over the festive period this year, according to
      344 words
    • SINGAPORE ROUNDUP
      • 97 10 THE Council for Estate Agencies (CEA) launched its first educational brochure yesterday to educate consumers on estate agency work. Called “Consumer Tips for Engaging a Real Estate Salesperson”, the guide highlights the key responsibilities of estate agents and salespersons, as well as prohibited practices such
        97 words
      • 92 10 THE Institute of Chemical and Engineering Sciences (ICES) has set up a dedicated X-ray absorption facility for catalysis research (XAFCA) at a research centre at the National University of Singapore. The outfit, the first of its kind in South-east Asia, will allow the
        92 words
    • 272 10 SMRT is revising its taxi fares with effect from Dec 20 in a bid to help its taxi drivers mitigate rising operating costs and inflation. This comes hot on the heels of a similar fare revision by ComfortDelgro. The flag-down rate for standard
      272 words
  • Page 10 Advertisements
    • 866 10 HEALTHWAY MEDICAL CORPORATION LIMITED (Incorporated in the Republic of Singapore) (Company Registration No.: *****8625C) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Healthway Medical Corporation Limited (the “Company”) will be held at The National University of Singapore Society, Kent Ridge Guild House, Evans
      866 words

  • SME Inc
    • 1086 11  -  Homegrown Biomax Technologies has come up with a method to accelerate fertiliser production, reports LYNN KAN FERTILISER that smells like cupcakes? Hard to imagine and you’d suspect that it probably doesn’t work. But not only does a sweetsmelling form of fertiliser exist, I was assured by
      ARTHUR LEE  -  1,086 words
    • 1129 12  -  Having a strong corporate brand helps with attracting the right kind of talent to join your company COMMENTARY By JACKY TAI The writer is a principal consultant of StrategiCom (www.strategicom.com) a brand strategy specialist that focuses on helping B2B companies differentiate themselves. Jacky has authored four
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    • 993 12  -  By DOLLY CHIA ECOLIGHT Design Consultants (EDC) was fully acquired by IEQ Global just last October and it is already invading the commercial space with IEQ’s highly efficient next-generation lighting. Among others, it has worked with Suntec City and
      ARTHUR LEE  -  993 words
    • 947 13  -  People Bee Hoon blends the old and the new in a recipe for business success By JASLENE PANG THAILAND’S recent price support programme has raised prices of grain. This has caused worry among businesses that import grain from the world’s largest
      YEN MENG JIIN  -  947 words
  • Page 11 Advertisements
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  • Page 13 Advertisements
    • 135 13 Get your queries addressed by SMU HAVE a pressing question about a business related issue that your company is facing? Starting from January, we will be working with professors from the Singapore Management University (SMU) to provide expert advice and answers to your queries. All you need to do is
      135 words
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  • ECONOMY WATCH
    • 735 14 Some see it going as low as US$1.20 in the first half of next year Bloomberg [NEW YORK] Foreign exchange strategists are slashing their forecasts for the euro at the fastest pace this year as European Central Bank president Mario Draghi’s interest
      Bloomberg; BLOOMBERG  -  735 words
    • 558 14 Reuters [SYDNEY] Australia’s trade surplus narrowed by more than expected in October as imports outpaced a flat export performance, and further slippage looms as Europe’s crisis hits trade finance while China’s red-hot growth cools. Yesterday’s data showed a surplus on goods
      Reuters  -  558 words
    • 623 14 Analysts fear they will turn to their govts for capital Bloomberg [NEW YORK] European banks turning to their governments to raise required capital could trigger a downward spiral of declining sovereign-debt prices and further losses for the lenders. The European Banking Authority
      Bloomberg  -  623 words
    • 916 14 Bloomberg [NEW YORK] The strengthening US economy is proving no deterrent to the biggest rally in Treasuries since 2008, and America’s largest bank says it may get even better for bond investors. US government debt has returned 8.9 per cent this year, including reinvested
      Bloomberg  -  916 words
  • Page 14 Advertisements
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      145 words
    • 68 14 ;r >r TOPPING OUT i Sets appeal Mentawais' seismic surl Rainbow walls f Jubbatdtha reef highlights Nepal's sunim it-to-sea adventurer Race review from Wulong SUMMITTING EVEREST FROM TIBET Asia's best outdoors magazine Now with a great new look! Get the latest copy today! Ask your local bookshop or make sure
      68 words

  • MALAYSIA/INDONESIA
    • 583 15 Anuar Adam wants professional management team to run the company [KUALA LUMPUR] Anuar Adam, who took control of Wijaya Baru Global last week, says that he will not be seeking board representation in the company. In an exclusive interview with The Business Times
      583 words
    • 400 15 Minister says it is only catching up on trade regulation AFP [JAKARTA] Indonesian Trade Minister Gita Wirjawan denied that the country’s move to restrict some imports and exports was protectionist, said a report published yesterday. Indonesia is only catching up with other countries in
      AFP; BLOOMBERG  -  400 words
    • 389 15 Aussie miner Lynas is building facility in Pahang state AFP [KUALA LUMPUR] Satirical Malaysian short films depicting cat-sized cows and mutant produce were screened on Sunday to take aim at an Australian miner’s planned rare earth plant after they proved a hit online.
      AFP  -  389 words
    • 272 15 [SINGAPORE] Fitch Ratings says in a new report that the outlooks of its rated Malaysian banks are expected to remain stable, even if a fresh economic slowdown were to emerge from the mounting global uncertainty. Downward rating risks could arise should such
      272 words
  • Page 15 Advertisements
    • 2298 15 YAMADA GREEN RESOURCES LIMITED (Company Registration No. *****2962E) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Yamada Green Resources Limited (the “Company”) will be held at 6 Battery Road, #10-01, Singapore *****9 on Wednesday, 28 December 2011
      2,298 words

  • SINGAPORE SERVICE EXCELLENCE MEDALLION
    • 1191 16  -  For its dedication to service excellence, it is awarded the inaugural Singapore Service Excellence Medallion. By TEH SHI NING FOR an international airport where, roughly every 100 seconds a flight to or from some place round the world takes off or lands, it is
      1,191 words
    • 334 16 THE Singapore Service Excellence Medallion aims to catalyse a transformation in the way public and private sector organisations in Singapore deliver service, and produce worthy role models for both organisations and individuals to emulate. The organisation Medallion winner must demonstrate outstanding levels of customer satisfaction, employee satisfaction
      334 words
    • 704 16  -  By TEH SHI NING IT’S not just about smiles and handshakes, says Edwin Teo, sales advocate at Atlas Sound and Vision. Service excellence is about “finding ways to surpass the customers’ expectations with the primary aim of delighting them”, says the winner of
      704 words
    • 1719 17  -  To stay competitive in a globalised economy, service industries must raise their service quality, reports TEH SHI NING AN ECONOMIC downturn and resultant dives in consumer spending looms on the one hand, and Singapore’s tight labour market continues to constrain man-power-intensive businesses on the other. It was
      ARTHUR LEE  -  1,719 words
    • 999 17  - The business community’s views By TEH SHI NING MANPOWER constraints are increasingly a challenge to players in Singapore’s service industry, what with the tight labour market and tightening of foreign worker inflows. But business leaders are not about to allow that to get in the way of pursuing service excellence,
      FILE PHOTOS  -  999 words


  • GREATER CHINA/INDIA
    • 518 18 First plunge in more than two years may prompt RBI to hold rates this week Bloomberg [NEW DELHI] India’s industrial production shrank in October for the first time in more than two years, adding pressure on the central bank to pause this week
      Bloomberg; AFP  -  518 words
    • 499 18 AFP [BEIJING] China’s top leaders opened a three-day meeting yesterday to set out the country’s economic priorities for 2012, the last before a once-in-a-decade transition of power begins next year. The Central Economic Work Meeting will decide policy for the
      AFP  -  499 words
    • 384 18 AFP [BEIJING] Global food conglomerates Danone and Nestle said yesterday that they would suspend or close factories in China, moves analysts said highlighted the tough competition from domestic players. French group Danone will suspend operations at one of its two yoghurt factories in the Asian
      AFP  -  384 words
    • 306 18 Bloomberg [BEIJING] China’s stocks regulator has published information on six fraud cases, including one involving 57.2 billion yuan (S$11.7 billion) of suspect transactions, as part of its campaign to root out misconduct. Conspirators manipulated the shares of an unprecedented 552 companies in
      Bloomberg  -  306 words
  • Page 18 Advertisements
    • 1784 18 MIYOSHI PRECISION LIMITED (Company Registration No. *****3979K) (Incorporated in Singapore with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Miyoshi Precision Limited (“the Company”) will be held at No. 5 Second Chin Bee Road, Singapore *****2 on Thursday, 29 December 2011
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    • 236 18 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF NIF MANAGEMENT SINGAPORE PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****1243M NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting of the Member of the abovenamed
      236 words

  • WORLD
    • 773 19 Moody’s threatens to review credit ratings of all EU states within 3 mths Reuters [LONDON] A European summit deal to strengthen budget discipline in the eurozone failed to restore financial market confidence yesterday, forcing the European Central Bank to step in again gingerly.
      Reuters; BLOOMBERG  -  773 words
    • 520 19 Protesters hope to disrupt the biggest US, Canadian ports Bloomberg [SAN FRANCISCO] Goldman Sachs Group Inc, the fifth-biggest US bank by assets, is a major target of Occupy Wall Street demonstrators who plan to blockade ports from Anchorage to San Diego to cut
      Bloomberg  -  520 words
    • 419 19 Bloomberg [AMSTERDAM] Time Warner Inc made a US$1.3 billion all-cash offer for Endemol NV as the Dutch producer of Big Brother television shows seeks to reach an agreement with lenders over reorganising its debt. The revised bid has the same value as
      Bloomberg  -  419 words
    • 436 19 Reuters [CANBERRA] Australia’s Prime Minister Julia Gillard reshuffled her Cabinet yesterday, focusing on job creation and labour relations, as she tries to reverse plummeting voter support ahead of elections due within two years. Ms Gillard’s changes included promoting junior minister Bill Shorten to a new super
      Reuters  -  436 words
    • 340 19 Austerity inspectors meet finance minister in Athens AP [ATHENS] Greece yesterday opened new talks with international austerity inspectors on a second rescue loan package agreed to weeks ago but not yet finalised to keep the debt-crippled country solvent while easing its crushing
      AP  -  340 words
    • 578 19 Bloomberg [BRUSSELS] Global financial regulators meeting this week will seek to eradicate unintended consequences from their draft bank-li-quidity standards to avert a threat to lending. The Basel Committee on Banking Supervision will weigh changes to its proposed liquidity-coverage ratio (LCR), amid criticisms
      Bloomberg  -  578 words
    • 742 21 Threat of global havoc seen if hackers gain access, disrupting oil supply Reuters [DOHA] Hackers are bombarding the world’s computer controlled energy sector, conducting industrial espionage and threatening potential global havoc through oil supply disruption. Oil company executives warned that attacks were becoming
      Reuters; AP  -  742 words
    • 591 21 AP [LONDON] Banks should need regulatory approval for significant acquisitions to avoid disasters like the 2008 collapse of Royal Bank of Scotland plc, Britain’s financial regulator said in a wide-ranging report which faults itself as well as bank management and the government for
      AP  -  591 words
    • 534 21 AP [WASHINGTON] As few as 12 different Chinese groups, largely backed or directed by the government there, do the bulk of the Chi-na-based cyberattacks stealing critical data from US companies and government agencies, according to US cybersecurity analysts and experts.
      AP  -  534 words
    • 408 21 AFP [BRISBANE] The premier of Australia’s Queensland state abolished its troubled health department yesterday after one of its top executives allegedly embezzled A$16 million (S$21 million). Anna Bligh said that she would split Queensland Health into separate hospital and administrative arms after finance manager
      AFP  -  408 words
    • 390 21 Aston shareholders to receive 1.89 Whitehaven shares per Aston share AFP [SYDNEY] Australian miners Aston Resources and Whitehaven Coal will merge to form the nation’s largest listed independent coal company, worth A$5.1 billion (S$6.7 billion). Under the deal, valued at A$3 billion, Aston shareholders
      AFP  -  390 words

  • Page 20 Advertisements
    • 244 20 iffmV* L'J V > 'A'*-- iV -jAV >•• i' 1 vA'- 1 Ln -J .A"vi'k fAfpM i iPpl Msg#? if## N%i' i-'fii ifffef-fil PF SP# AFTFE#I#4 T.V V5 >/E XLKPA iS ?*w k >\ jb%*\ y\ \,-v AS A >v* V;V'1i- 'f J 1 tym R A IFE# m wm
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  • EDITORIAL & OPINION
    • 484 22 EDITORIAL COME 2020, companies in emerging markets could face a shortfall of US$12.3 trillion in terms of funds to finance their growth in the public equity markets, according to a recent study by consulting firm McKinsey Co. The main reason is the rapid accumulation
      484 words
    • 766 22  -  THE BOTTOM LINE PAUL KRUGMAN The writer is professor of economics and international affairs at Princeton University, and winner of the Nobel Prize in economics in 2008 NYT IT’S TIME to start calling the current situation what it is: a depression. True, it’s not
      NYT  -  766 words
    • 973 22  -  The ‘fiscal stability union’ that Friday’s meeting proposed is nothing of the sort By KEVIN O'ROURKE The writer is Chichele Professor of Economic History at the University of Oxford, and a fellow of All Souls College AS many feared and most expected, the just-con-cluded
      REUTERS  -  973 words
    • 1239 23  -  The US president seems to be picking up the political mantle of the legendary Theodore Roosevelt in recent days LEON HADAR Washington Correspondent PRESIDENTTheodoreRoosevelt is one of the three most revered Republican presidents in US history (the other two being Abraham
      AFP  -  1,239 words
    • 940 23  -  By JOANNA MUNRO The writer is chief executive officer, Asia-Pacific, HSBC Global Asset Management THE new offshore yuan bond market (regularly dubbed the “Dim Sum” market) kicked off in earnest in the middle of 2010 when the Chinese authorities lifted certain restrictions and made it
      Source: HSBC, data as at October 2011  -  940 words
    • 324 23  -  LETTER TO THE EDITOR Penny Ng (Ms) Head (air navigation services policy) Civil Aviation Authority of Singapore WE refer to Prithpal Singh’s commentary, “Crowded skies over Changi” (BT, Nov 30). Air traffic at Singapore Changi Airport has been growing rapidly. With
      324 words


  • AVIATION/SHIPPING
    • 554 24 Damage to brand from grounding fleet only temporary, says its CEO AFP [SYDNEY] Qantas chief Alan Joyce said yesterday he was pushing ahead with plans for a joint-venture premium airline in Asia while insisting damage to the brand from grounding the fleet was
      AFP  -  554 words
    • 336 24 AFP [JAKARTA] The Indonesian subsidiary of Asia’s biggest budget carrier AirAsia will postpone its initial public offering (IPO) until next year due to the global economic slowdown, its spokeswoman said yesterday. The airline in March announced plans for a public listing in the
      AFP  -  336 words
    • 345 24 Reuters [DUBAI] Abu Dhabi’s Etihad Airways will buy 12 planes from Boeing, including 10 787-9 Dreamliners, in a deal valued at US$2.8 billion at current list prices. The new orders makes Etihad the world’s largest customer of the fuel-effi-cient 787-9 with a total of 41
      Reuters; ALPHONSUS CHERN/ THE STRAITS TIMES  -  345 words
    • 465 24 Reuters [SINGAPORE] Vale may start operating an iron ore transshipment centre in the Philippines early next year, two years ahead of a similar facility in Malaysia, as the world’s top iron ore miner moves closer to its biggest
      Reuters  -  465 words
    • 450 24 Reuters [SINGAPORE] Shipping firms are operating in an unsustainable economic environment with prospects unlikely to improve much in 2012 due to high fuel prices, low freight rates and slowing demand, said the head of the world’s sixth largest container firm. The
      Reuters  -  450 words
  • Page 24 Miscellaneous
    • 345 24 CRYPTIC CROSSWORD Across 1 A drug dealer’s yacht, and a rope thrown out (10) 6 A nuisance is unfinished mirrors (4) 10 Gather there’s action starting in valley (5) 11 Rogue makes refund including half of profit (9) 12 A daughter boarding flight for a prank (8) 13 Take exception,
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  • 2220 25 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
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  • Page 25 Advertisements

  • SHIPPING
    • 987 26 Surge in CDS comes after Moody’s says it may cut carriers’ credit ratings Bloomberg [TOKYO] Nippon Yusen KK’s bond risk rose the most of any Japanese company in the past month as a surging supply of vessels and falling transportation rates prompted a warning
      Bloomberg; BLOOMBERG  -  987 words
    • 372 26 AP [SEOUL] A Chinese fishing boat captain stabbed two South Korean coast guard officers yesterday, killing one and injuring the other, after his boat was stopped for illegally fishing in South Korean waters, officials said. The Chinese captain pulled an unidentified weapon after
      AP  -  372 words
    • 278 26 SGX '000 Dec 12 S$ +/-Vol CH Offshore 0.36 unch 51 Chuan Hup Hldg 0.21 0.01 59 Cosco Corp 0.90 0.01 2947 CWT Ltd 0.99 -0.01 111 Ezra Hldgs 0.86 -0.02 1832 First Ship Lea 0.29 -0.01 556 Freight Links 0.06 unch 1764 Grand Banks 0.28 0.06 47
      278 words
  • Page 26 Advertisements
    • 23 26 FREIGHT Er FORWARDER here in th. urgently needed by shippers Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      23 words
    • 35 26 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. THE BUSINESS TIMES MMM SHIPPING TIMES Legal services required by shippers owners Can they find your services here in the Shipping Times?
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  • SINGAPORE STOCKS
    • 7864 27 Transaction date: Dec 12 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 11.6 8Telecom 15.5 8 14.5 7.8 3.9 3.2 74.2 9.5 4.1 A-Sonic 4.6 4.6 5 2.8 1.7 32.9 65
      7,864 words
    • 1582 28 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 12.4 12.3 13 4.7 4.4 4.8 22.2 5.5 2.5 t AA Grp 3.3 2.5 3.3 15.7 3.2 200 98
      1,582 words
    • 9981 28 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.17/ APS Alpha Fund (USD)!** 0.9/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.59/ Aberdeen Asset Mgt Asia Limited American Opp 0.6234/ Asian Credit Fund
      9,981 words
    • 248 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 55.5 34 AVJennings A34 35.5 44 3.6 10.3 2.7 88.5 49 25.5 Genting HK US$ US28 +0.5 4734 28 27 27.5 28 1843.7 15 10 OGL Resources
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    • 907 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 108 ABF SG Bond ETF 116.3 42 116.3 116.3 115.2 116.3 530.9 1261 856 CIMBAsean40 100US$ US949 955 956 38 ***** ***** DBXT AUD Bonds
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  • FINANCE & COMMODITIES
    • 373 29 In local curr In S$ In US$ dy yr dy yr dy yr Dec 9 Index Change Change Change Change Change Change World Preliminary 829.6 1.0 -7.6 0.9 -6.3 1.0 -7.3 EAFE Preliminary 683.7 0.4 -14.6 0.3 -12.9 0.5 -13.9 Europe Preliminary 1020.6 1.3 -12.7
      373 words
    • 77 29 CRUDE OIL PRODUCTS Dec 9 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 107.87 -0.27 WTI (Near Mth) 99.55 1.00 Dubai (1-Mth F) 105.27 -1.97 Tapis blend 115.07 -2.29 Minas 112.47 -2.29 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 96.83 -2.89 Jet Kerosene 123.70 -2.03 US$/barrel Opec Oil
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    • 107 29 Dec 9 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 12 1107.00 1132.50 1133.50 1100.25 Mar 12 1116.50 1142.25 1142.25 1110.25 May 12 1127.00 1152.50 1152.25 1120.50 Jul 12 1137.00 1162.25 1162.75 1130.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 11 49.34
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    • 79 29 Dec 12 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****E 15.03.2012 0.35 1-Year BY*****W 01.11.2012 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 102.99 5-Year N*****0W 1.125 01.04.2016 101.99 102.12 102.12 10-Year NX*****X
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    • 439 29 Dec 12 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec11 99.4425 0 3276 Mar12 99.3800 0 3330 Jun12 99.3450 0 1053 Sep12 99.3400 0 351 EUROYEN TIBOR FUTURES Dec11 99.6725 1 4621 Mar12 99.6600 700 2537 Jun12 99.6625 0 1440 Sep12 99.6575 0 711 Dec12 99.6650
      439 words
    • 114 29 As on 9 December 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT FEB2012 1727.70 1707.80 1717.00 204 CURRENCY AUD-USD FUT DEC2011 1.0195 1.0086 1.0188 1802 EUR-USD FUT DEC2011 1.3434 1.3285 1.3370 6225 USD-JPY FUT DEC2011 77.70 77.56 77.61 1600 BASE METAL
      114 words
    • 159 29 Dec 12 SICOM RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 12 340.0 340.0 340.0 4 285 Feb 12 344.7 221 Mar 12 350.0 350.0 350.0 22 297 Apr 12 357.0 144 May 12 359.5 253 Jun 12
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    • 71 29 Dec 9 Dec 9 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2064.00 2060.75 3 months 2065.00 unch Copper, Grade A (US$/tonne) Cash 7792.50 7685.50 3 months 7815.00 7710.00 Lead (US$/tonne) Cash 2147.75 2084.75 3 months 2165.00 2103.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 82 29 Dec 9 COCOA (£/tonne) Close Prev High/Low Dec 11 1281 1317 1328/1279 Mar 12 1338 1369 1383/1336 May 12 1352 1385 1396/1351 Jul 12 1371 1403 1412/1373 COFFEE (US$/tonne) Close Prev High/Low Jan 12 1926 1910 1933/1881 Mar 12 1962 1947 1969/1920 May 12 1992 1976 1997/1950 Jul 12
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    • 2034 29 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 55 49.00 29 ASJ Hldgs W*****1 0.1 1 4 24 33.00 2 AlliedTech W*****2 1.7 1 4 23 Aztech Grp W*****3 0.2 1 20 127
      2,034 words
    • 464 29 Dec 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.039 6.456 0.762 7.897 53.333 92.213 0.788 11.647 3.203 1.319 90.452 44.274 1.316 8.284 0.942 30.663 31.495 0.652 1.015 Canada 0.962 6.214
      464 words
    • 82 29 Dec 12 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      82 words
    • 143 29 Dec 12 GOLD (US$/oz) Dec 12 Dec 09 Hong Kong 1692.00 1715.20 Dec 09 Dec 08 London 1715.50 1706.59 1716.50 1707.60 Source: Thomson Reuters Source: Reuters CAST BAR Dec 12 (S$) Selling Buying Kilobar 76,498.58 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 171 71 5gm 487 356
      143 words
    • 57 29 Dec 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 11 3010.0 2963.0 3010.0 3000.0 22 883 Jan 12 3063.0 2996.0 3063.0 2996.0 579 8164 Feb 12 3060.0 2998.0 3063.0 2994.0 ***** ***** Mar 12 3066.0 2999.0
      57 words
    • 24 29 Dec 12 Open High Sett STI Dec 2696 SIMSCI Dec 304.6 308.9 305.7 Taiwan Dec 245.6 251.0 249.0 Source: SGX Derivatives
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    • 154 29 Dec 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3150 1.3163 1.0149 1.0151 Canadian dollar 1.2657 1.2668 0.9768 0.9769 Euro 1.7248 1.7267 1.3312 1.3316 NZ dollar 0.9968 0.9983 0.7693 0.7699 Sterling pound 2.0165 2.0184 1.5563 1.5566
      154 words
    • 22 29 Dec 12 S$ Bid Offer 1-month 1.2957 1.2968 2-months 1.2957 1.2968 3-months 1.2955 1.2966 6-months 1.2944 1.2956 Source: OCBC
      22 words
    • 121 29 As at 9am Dec 12 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.35 1.286 Can dollar 1.294 1.245 Euro 1.763 1.696 Sterling pound 2.064 1.985 NZ dollar 1.03 0.981 US dollar 1.315 1.265 Local dollars to 100 units of foreign
      121 words
    • 154 29 Dec 12 $S Offer Bid 0vernight 0.03 0.01 1-month 5/16 3/16 2-months 5/16 3/16 3-months 5/16 3/16 Overnight mode: 0.03 US$ Offer Bid 7 days 0.30 0.20 1 month 0.50 0.30 2 months 0.55 0.35 3 months 0.65 0.45 6 months 0.90 0.70 9 months 1.10 0.90 12
      154 words

  • PROPERTY
    • 383 30  -  Around 80% of units sold even before project’s official launch next month By MICHELLE TAN [SINGAPORE] Catalist-list-ed SingXpress Land Ltd’s (SingXpress Land’s) latest freehold development, Charlton Residences, continues to draw keen interest from buyers despite worsening market conditions. It has sold around 80 per cent
      383 words
    • 204 30  -  By MINDY TAN [SINGAPORE] Three 999-year leasehold conservation shophouses at Liang Seah Street were put up for sale through an expres-sion-of-interest exercise, at an indicative price of $30 million. This works out to about $2,602 per square foot, based on the total floor area
      204 words
    • 205 30 Xinhua [TIANJIN] Construction on a US-invested financial plaza began yesterday in north China’s coastal city of Tianjin. The construction of the plaza is being funded by Tishman Speyer, a US real estate developer, at a cost of about six billion yuan (S$1.2 billion).
      Xinhua  -  205 words
    • 163 30 Bloomberg [LONDON] Britain had 11 per cent more houses valued at £1 million (S$2 million) or more available for purchase in the third quarter than it did a year earlier, Investec Specialist Bank said in a report on Sunday. About 21,982 such properties
      Bloomberg  -  163 words
    • 331 30 Reuters [LONDON] Britain’s housing market is likely to stagnate in 2012, with low interest rates offset by a squeeze on household budgets, mortgage lender Halifax said yesterday. In its outlook for next year, Halifax said it expected house prices to end 2012
      Reuters; BLOOMBERG  -  331 words
    • 481 31 It will redevelop The Forum, located in Central, into a 7-storey building Reuters [HONG KONG] Hongkong Land Holdings, the biggest landlord in Hong Kong’s Central district, will spend HK$560 million (S$93 million) to knock down commercial building The Forum to build a
      Reuters; BLOOMBERG  -  481 words
    • 402 31 Bloomberg [SYDNEY] Australian home-loan approvals rose in October for a seventh straight month before central bank governor Glenn Stevens lowered borrowing costs for the first time in 31 months. The number of loans granted to build or buy houses and apartments gained
      Bloomberg; BLOOMBERG  -  402 words
  • Page 30 Advertisements
    • 290 30 FOR SALE BY TENDER CROWN JEWEL OF THOMSON... THOMSON VIEW RARE DISTRICT 20 RESIDENTIAL SITE Gigantic Land: 50,196.9 sq metres (540,314 sqft or 12.4 acres) Master Plan 2008: Residential Use With Gross Plot Ratio 2.1; Up to 24 storeys High Elevated Ground Above Upper Thomson Road Panoramic Views of Blue
      290 words
    • 84 30 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices J >*4 WAT3 NOTICES 3j For Sale by Tender (53C Lor 17 Geylang) 2 blocks single-storey detached factory on 2 land parcels Land Area Approx 2,378 sm (25,596 sq ft) Zoning Part Residential
      84 words
    • 59 30 vl i I ii Signature Conservation Building Built 1920's a Legend to Own Attractive capital gains/ no capital gains tax Foreigners can Buy Chic Bespoke Interiors $12m renovation Surrounded by 3 MRTS Near Integrated Resorts/ Fully Commercial Investment Returns No added stamp duty can 6222 5055 Exclusive Agent www.isa bel
      59 words

  • Page 31 Advertisements
    • 95 31 I* I III CEA Agency No: L*****43E, Reg No: R*****1J {Brand New B1 Industrial Building y for Sale at 72 Lorong 19 Geylang Lorong 19 Geylang Freehold. Asking Only $7.98M neg Approx GFA 10,500sqft 1 block of 9 storey multi-user light industrial factory building, just TOP 8 units with good
      95 words
    • 37 31 THE LEADING'BUNGALOW SPECIALIST L Holland Park ***** 8000 ASK $2OM Caflfls (s^KoToXoToTITo) OBCKXNTIWCKS) I=MIFFLI^M) 2ND AVE ***** /.80OO.ASK'$2G 1 .8M WHITEHOUSE 148O 1/,58OO.ASK $;28:8M B I S H O PS TAT E. 16 20O//IOOOOIAS K- 2X M
      37 words
    • 60 31 3 Adjoining Shophouses opposite Bugis Junction Contact: Investment Advisory Services 6293 3228 Part 3 part 5-storey shophouses with a passenger lift Total Floor Area: Approx. 11,529 sq ft Leasehold 999-year Short walk to Bugis MRT station 100% leased Expressions of Interest Closing: Fri, 13 Jan 2012, 12 pm Estate Agent
      60 words

  • Page 32 Advertisements
    • 163 32 The LANGE ZEITWERK gave the mechanical watch a new face. Now, this can also be heard. is e 7 52 m WmmSSi ifj HI K s* GLASHUTTE VSA For the master watchmakers at A. Lange Sohne, the LANGE ZEITWERK theirlatestopus,theLANGEZEITWERKSTRIKINGTIME.Becausethiswatch was a formidable challenge. Never before had a mechanical wristwatch
      163 words