The Business Times, 16 January 2012

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, January 16, 2012
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  • 716 1  -  Risks rise of Greek default as talks fail; rating cuts weigh on France, eight others By NEIL BEHRMANN in London GLOBAL market fears have returned following a brief respite. Once again the eurozone is at the centre of uncertainty after talks with Greece
    AFP  -  716 words
  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 2,791.54 +75.95 KL COMP 1,523.07 +8.94 NIKKEI 225 8,500.02 +109.67 HANG SENG 19,204.42 +611.36 SET INDEX 1,044.81 +8.55 JAKARTA COMP 3,935.33 +65.91 MANILA COMP 4,613.83 +130.47 SEOUL COMP 1,875.68 +32.54 SHENZHEN B 572.10 +16.42 MUMBAI IND 16,154.62 +286.89 DOW 12,422.06 +62.14 NASDAQ 2,710.67 +36.45 S&P
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    • 21 1 BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838.
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    • 18 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.035 JAPAN 1.475 KOREA Source: Bloomberg
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    • 49 1 us$ s$ US$ (S$ per US$) 1.288 (US$/S$ per 1.538 1.982 EURO (US$/S$/E) 1.285 1.655 Foreign currency per US$ S$ YEN 76.70 59.50 RM 3.134 2.433 HK$ 7.768 6.030 BAHT 31.81 24.69 RUPIAH 9,085 7,053 RENMINBI 6.308 4.897 INDIAN RUPEE 51.33 39.85 A$ 0.967 0.750 NZ$ 1.261 0.979
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  • 1001 1  -  Implementing a risk management framework deemed main concern By EMILYN YAP [SINGAPORE] Boutique fund managers are bracing themselves for higher costs and other challenges as regulators look set to bring in new rules tightening supervision of the industry. Some have hired experienced help
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  • Page 1 Advertisements
    • 203 1 DINING OUT Lots of good cheer atSeki PAGE 23 BizIT S’pore a safe haven for intellectual property PAGE 30 VIEWS FROM THE TOP Assessing Singapore’s public transport system PAGES 14 15 YOUNG INVESTORS’ FORUM Riding a commodities roller-coaster page 13 *****1 *****4 IWC Portuguese. Engineered for navigators. Portuguese Yacht Club
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 52 2 BOUTIQUE fund managers are bracing themselves for higher costs and other challenges as regulators look set to bring in new rules tightening supervision of the industry. Some have hired experienced help to meet competency requirements; others are mulling over the risk controls to
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      • 51 2 GLOBAL market fears have returned following a brief respite. Once again the eurozone is at the centre of uncertainty after talks with Greece broke down on Friday and Standard Poor’s downgraded France and Austria, leaving only four triple A nations in the currency
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      • 47 2 FROM today, for the first time, individual foreign investors can buy Indian stocks directly in India’s markets, rather than through funds or depository receipts listed overseas. Up to now, only foreign institutional investors were permitted to buy Indian stocks directly.
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      • 81 2 AND so it has finally emerged: the two DBS Bank ATMs hit by the latest ATM card skimming case that resulted in $1 million of fraudulent withdrawals did not have a key security measure switched on. The revelation is likely to further
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      • 34 2 SINGAPORE-BASED consultancy and township development company Surbana is gunning for a larger share of the mass market housing business in Asia and the Middle East.
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      • 67 2 THE bulk of Q4 and full year 2011 earnings are likely to be as dismal as the market expects, but investors should not bother themselves with the measly figures, say analysts. Instead, investors should focus on companies’ forward-looking statements as those may help to
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      • 60 2 CISCO Systems is understood to be close to sealing a deal to lease about 110,000 square feet of space at UE Bizhub East at Changi Business Park. This may be the latest case of an MNC relocating from Singapore’s Central Business
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      • 70 2 JAPAN Inc is on an acquisitions march across Asia and around the world, new figures show, as firms armed with ever more valuable yen take strategic advantage of the currency’s post-war highs. Last year, Japanese firms made 198 corporate purchases across the rest of Asia,
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      • 54 2 PRELIMINARY calculations show that after two quarters of positive growth, worldwide PC shipments slumped by 1.4 per cent year-on-year in the fourth quarter of 2011 to 92.2 million units, according to research agency Gartner. Continuously low PC demand resulted in weak holiday PC shipments,
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    • 869 2  -  They could reap tidy gains investing in stocks directly but must beware hazards By VIKRAM KHANNA [SINGAPORE] From today, for the first time, individual foreign investors will be able to buy Indian stocks directly in India’s markets, rather than through funds or depository
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    • 194 2 [SINGAPORE] Prime Minister Lee Hsien Loong is hopeful that Singapore will be able to weather the uncertainties ahead. Speaking at the Teck Ghee Division Hongbao Presentation Ceremony 2012 yesterday morning, Mr Lee highlighted that though the domestic economy is starting to show signs of
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    • 1225 4  -  Two Bugis ATMs in Nov card-skimming scam didn’t have key security feature on By WONG WEI KONG [SINGAPORE] And so it has finally emerged: the two DBS Bank automated teller machines hit by the latest ATM card-skimming scam that resulted in $1
      FILE PHOTO  -  1,225 words
    • 450 4  -  By UMA SHANKARI [SINGAPORE] Singapore-based consultancy and township development company Surbana is gunning for a larger share of the mass market housing business in Asia and the Middle East. The firm’s top executive said in a recent interview
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    • 721 4  -  EU debt downgrade, US-Iran tension will dampen sentiment WALL STREET INSIGHT By ROB CURRAN THIS week, a star-studded cast of earnings reports will compete for the spotlight with France and the euro. In a move that was at once shocking and widely anticipated, credit
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  • Page 2 Advertisements
    • 522 2 TOP STORIES, PAGE 4 FRONT PAGE COMPANY NEWS, PAGE 6 FRONT PAGE SINGAPORE NEWS, PAGE 12 TOP STORIES, PAGE 2 WORLD, PAGE 19 TOP STORIES, PAGE 4 BIZIT, PAGE 29 Budget 2012 Date Tuesday, 28 February 2012 Time 8.30am to 5.00pm Venue Orchard Hotel Singapore 442 Orchard Road Singapore *****9
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    • 331 2 v <tlU* ASIA PACIFIC ICT SUMMIT SUCCESS WITH DIGITAL ENGAGEMENT www.apicts.com Register by 3 Fe b 2012 to enjoy Early Bird Discount! iJte Power the Digital Revolution Unleashing the Potential of Social Media The leading conference that offers a platform for key leaders to come together, explore new opportunities and
      331 words

  • Page 3 Advertisements
    • 610 3 Future Leaders Program™ Uncompromisingly the Best If you suspect that The Learning Lab sets a high bar for its enrichment programs and high expectations for its students, you are right. Our programs demand a great deal from the curriculum research teams and the specialist coaches who create and deliver the
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  • Page 4 Advertisements
    • 237 4 1 Rosewood Drive (Developer Sale Team) 1 Rental Yield rr V onwards 1-5 bedroom V 90% Pool Facing 8 Theme Zone 62 Faclilities Boon Kheng CEAReg No: R026 8800 School of Economics Master of Science in Applied Economics CAN A FALLING GREENBACK SHRINK THE RED PACKET? m m i 7
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  • Page 5 Advertisements
    • 256 5 Your address with all the right connections. Enjoy a rare opportunity to own luxurious residences and lease high-end office spaces that offer you a world of unlimited connectivity with the newly opened Bayfront MRT and Marina Bay MRT stations. Prime location within the city’s edge Link to Nicoll Highway MRT
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  • COMPANY NEWS
    • 294 6 Jan 13 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Arab Bank PLC Bank Julius Baer Co. Ltd(S) 5 Banco Bilbao Vizcaya Bank of China Limited 5.5 Bank of Communications 5.5 6 Bank Julius Baer Co. Ltd(S)... Bank of New
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    • 227 6 Payment Ex Books Pay Ann (cts) date close date date Asia Pac Brew ak 63.000 25-Jan 27-Jan 13-Feb 11-Nov Asia Pac Brew bh 15.500 25-Jan 27-Jan 13-Feb 11-Nov Cosmosteel Hldgs aj 1.000 27-Feb 29-Feb 14-Mar 29-Dec Eastgate Tech an 0.100 23-Feb 27-Feb 15-Mar 13-Dec Etika Intl ak 0.700
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    • 734 6  -  They will help give direction in market that has lowered expectations By KELLY TAY WORRIED about the omnipresent and never-ending list of global uncertainties, and how these have affected companies’ Q4 2011 earnings? Cease and desist, analysts say. While the bulk of Q4 and
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    • COMPANY BRIEFS
      • 85 6 ASCENDAS Real Estate Investment Trust (A-Reit) clarified that it is not in talks with Mapletree Investments Pte Ltd or any other party to invest in Pune or any other part of India. Last Friday, Reuters ran an article titled “S’pore funds
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      • 56 6 SINGAPORE-listed CMZ Holdings Ltd has requested for a trading suspension with effect from this morning with regard to its proposed voluntary delisting. As at trading close last Friday, the company and parties acting in concert with it have acquired about 90 per cent of the
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    • 267 6 COMPANY MEETING PLACE DATE TIME Tech Oil Gas A E 72 Loyang Way, 10.00am Singapore *****2 16-Jan 10.30am Frasers Comm Trust A Level 2, Alexandra Point, 438 Alexandra Road, Singapore *****8 17-Jan 10.00am Etika Intl A Camellia Room, Level 3, Grand Hyatt Singapore, 10 Scotts Road, Singapore *****1
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    • 1840 11  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited TRADING among directors surged last week with 18 companies that recorded 37 purchases worth $16.9 million, versus six firms with nine disposals worth $4.07 million. The figures were sharply up from the previous
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  • Page 6 Advertisements
    • 2065 6 the business timesweek nd www. usinesstimes.com. g| SEPTEMBER 24-25, 2011 S$1.00| MICA (P) 121/08/2011 the raffles conversation CAREER DIPLOMAT BARRYDESKER 12-13 cheap funds Local banks to slash savings rates DBS Bank, OCBC Bank and UOB will offer a mere 0.05 per cent come October, even as HSBC and Stanchart dish
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  • Page 7 Advertisements
    • 89 7 singaporeair.com A380 NEW YORK VIA FRANKFURT Luxury Across Three Continents Daily Flights to Z W A v r L Z M VCT i A:.' Sfl x I M M I f mini U1LLU 7 w Let the space and comfort of the Singapore Airlines A380 take your journey to New
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  • SINGAPORE MARKETS
    • 725 8  - Contrarians hold sway for now STOCKS R SIVANITHY Senior Correspondent ON the face of it, you’d have to say the market is in the grip of contrarians. Virtually all observers believe a bankrupt Europe will soon sink into a dire recession that will spread to the rest of the world
      725 words
    • 681 8 CURRENCIES Bloomberg [NEW YORK] The euro last week slumped for a sixth week, the longest stretch of losses versus the dollar since 2010, as the stripping of France’s top credit rating by Standard Poor’s magnified concern that the region’s financial turmoil will intensify.
      Bloomberg  -  681 words
    • 314 8 COMMODITIES AFP [NEW YORK] Oil prices dipped last Friday at the end of a week in which the prospect of reduced energy demand offset tight supply worries caused by turmoil in key crude producers Iran and Nigeria. New York’s main contract, West Texas Intermediate
      AFP  -  314 words
    • 1642 8 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 2 9.35 10.37 1.33 0.98 Amtek Engg Ltd 2.60 2.60 5 0.08 5.91 0.82 0.65 ARA Asset Mgt Ltd 1.71
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    • 4 8 WEEKLY
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    • 66 8 Jan 13 VALUE CLOSE BT OB/OS 655.00 +163.0 BT CADI -*****.00 +194.0 BT 10-day MA -*****.00 +65.00 FTSE ST Mid Cap 624.63 +6.78 FTSE ST Small Cap 417.10 +5.37 FTSE ST All Share 670.67 +10.66 FTSE ST China Top 202.88 +2.38 FTSE ST China 235.20 +2.96 FTSE
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    • 60 8 VOLUME Noble Grp 395,939,000 Golden Agri 293,089,000 Genting SP 253,515,000 GMG Global 157,292,000 HPH Trust US$ 150,601,000 Scintronix 144,038,000 Artivision 120,940,000 SingTel 89,450,000 SingXpress 89,027,000 Yoma 83,424,000 VALUE($) Noble Grp 439,086,048 DBS Grp 392,599,685 Genting SP 389,693,525 Keppel Corp 303,202,330 SingTel 278,921,528 SembMar 276,516,570 UOB 239,842,070 OCBC
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    • 120 8 BY CENTS CLOSE UP DBXT Nifty 10US$ 9530 530.5 4.5 DBXT MSKorea 10US$ 5314 296.2 4.5 IS S&P500 ***** 274.3 1.7 GLD 10US$ ***** 255.0 1.3 DBXT AUDCS 5US$ ***** 185.4 0.7 DBXT FTVietnam 10US$ 1842 141.7 6.4 DBXT MSAsExJp 10US$ 2864 123.6 3.5 DBXT FTChina25 10US$ 2727 115.9
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    • 128 8 BY CENTS CLOSE DOWN Lyxor AsiaCS 10US$ 5048 -105.6 -1.6 DBXT S&P Short 10US$ 4021 -95.3 -1.8 Asia Pac Brew 2900 -80.0 -2.7 UOB 5.05%NCPS 100 ***** -40.0 -0.4 DairyFarm 950 -32.2 -2.6 Lyxor LatinAmerica 1 747 -28.3 -2.9 DBS BP ePW*****2 16 -26.0 -61.9 DBXT STGLDv100 10US$ 2636
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    • 5 8 WEEKLY
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    • 1675 10  -  TEH HOOI LING Senior Correspondent THERE is value in risk assets, but the uncertainties surrounding the eurozone may cause significant volatility in the markets in the months to come that is the prognosis of most analysts and market strategies. Indeed, based on equity
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  • Page 9 Advertisements
    • 232 9 y *9 4TV m ..iillHl .ssr H 4 4 cord life one chance, one choice. £j$yvq ot\f Cordlife Singapore CordLife Hong Kong S*? on their successful AABB accreditation! Part of an elite group displaying the mark of quality and trust Cordlife Singapore has been accredited since 2005, the first in
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  • Page 11 Advertisements
    • 145 11 The Leading Operator Established 1985 ‘‘Satisfying your corporate needs” We are always actively involved in identifying the true needs of our clients and ensuring that those needs are met on time and on budget. A dynamic team rich in experience, professionalism and knowledge. Always believe in going far and beyond
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    • 51 11 THE ZODIAC DRAGON COLLECTION i. i *y V -> .V > fa N h( wn r0 I fs. i i H ‘t 8BL r r M V' a RISIS.COM T. *****002 CENTREPOINT CHANGI AIRPORT TI T3 SUNTEC CITY THE SHOPPES AT MARINA BAY SANDS SINGAPORE BOTANIC GARDENS SINGAPORE FLYER TAKASHIMAYA
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  • SINGAPORE NEWS
    • 662 12  -  Market watchers see cost savings behind firm’s move from CBD to suburbs By KALPANA RASHIWALA CISCO Systems is understood to be close to sealing a deal to lease about 110,000 square feet of space at UE Bizhub East at Changi Business
      PHOTO: ARTHUR LEE  -  662 words
    • 514 12  -  Remaining isolated pockets need to be thought through Reports by LYNN KAN SINGAPORE has made huge strides in tackling its drainage issues, but small isolated pockets remain to be solved, PUB chairman Tan Gee Paw told BT. “When you look at it overall, we’ve
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    • 474 12 Continual R&D and innovation needed, says PUB chairman SINGAPORE’S offshore and marine, and water industries must both keep their thinking hats on to prepare for an uncertain and fast-changing future. Tan Gee Paw, chairman of PUB, said the risk to both sectors
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  • Page 12 Advertisements
    • 1084 12 DB Platinum '«*>■ WAT3 NOTICES COMPACT METAL INDUSTRIES LTD (Incorporated in the Republic of Singapore) Company Registration No. *****0009H NOTICE OF EXPIRY OF WARRANTS W*****3 To: ALL HOLDERS OF WARRANTS W*****3 TO SUBSCRIBE FOR NEW SHARES IN COMPACT METAL INDUSTRIES LTD (THE “COMPANY”) THIS NOTICE IS IMPORTANT AND REQUIRES YOUR
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    • 245 12 SALE OF VESSELS Offers are invited for the purchase of the following vessels on an “as is where is” basis: Particulars of Vessels Tug Boat Barge Date and Port of Registry January 2009 October 2009 Year Built 2007 2006 Shipyard Guangzhou South China Shipyard, China Guangzhou Panyu Yuefeng Shipyard, China
      245 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1401 13  -  Commodities have been moribund for a century, their prices more a reflection of Mother Nature than demand; but not anymore. Three top executives in the global commodities sector explain why. MRINALINI REDDY reports MRINALINI REDDY WITH three billion mid-dle-class consumers from emerging countries waiting in line
      PHOTO: BLOOMBERG  -  1,401 words
    • 935 13  -  STARTING YOUNG By EVE YEO TECHNOLOGY blogger and entrepreneur Willis Wee may be fresh out of university but he is no stranger to business. He had his first taste of entrepreneurship at the age of 10, when he ran a business
      ARTHUR LEE  -  935 words
  • Page 13 Advertisements
    • 162 13 Get started now Be a young investor Do you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      162 words

  • VIEWS FROM THE TOP
    • 2423 14 THIS WEEK’S TOPIC Has Singapore’s public transportation system developed satisfactorily over the years? What can be done to make it truly world-class? Joseph Ong Director and Founder 1-Rochester Group LIKE most of Singapore’s infrastructure, our public transportation system is definitely head-and-shoulders
      BH FILE PHOTO; ST FILE PHOTO  -  2,423 words

  • Page 15 Advertisements
    • 11 15 For the complete list of views from CEOs, go to http://businesstimes.com.sg
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    • 212 15 Reach New Heights With The Emerging Enterprise Award f oo oo Z r 1 /T Since winning the inspiring Emerging Enterprise Award, _we've also managed to garner prestigious awards like Deloitte Fast Track 500 and 2010 Red Herring Global. These have definitely boosted our morale and motivated us to take
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  • ECONOMY WATCH
    • 666 16 He wants to emulate labour reforms that helped Germany escape crisis AFP [PARIS] As the German economy shines, next door France plunges into recession, shedding jobs and losing its top credit rating. But President Nicolas Sarkozy has a plan to save the country,
      AFP; REUTERS  -  666 words
    • 535 16 Websites publish details of tax evaders AFP [ROME] As Italy’s cashstrapped government launches its latest bid to crack down on tax evasion of up to 150 billion euros a year (S$245.9 billion), it is getting a little help from mobilisation on social
      AFP  -  535 words
  • Page 16 Advertisements
    • 2661 16 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Asiatravel.com ASIATRAVEL.COM HOLDINGS LTD (Company Registration No.: *****7534E) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Asiatravel.com Holdings Ltd (“the Company”) will be held at Coleman Room, Level 1 of Grand
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  • MALAYSIA
    • 609 17  -  It’s astonishing that govt funds were disbursed to the NFC with such haste, ignoring project delivery MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent THE heat is on for the National Feedlot Corporation (NFC). And rightly so. Last Saturday, Prime Minister Najib Razak told reporters that
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    • 1716 17 VOL Jan 13 RM +/-(‘000) VOL Advance Synerg 0.19 unch 810 Adventa Bhd 1.75 0.01 212 Ae Multi Hldgs 0.32 -0.01 405 Affin Holdings 3.09 0.04 768 Ahmad Zaki Res 0.67 0.01 46 Airasia Bhd 3.66 -0.02 5716 Alliance Finan 3.87 0.01 667 Aluminium Co 0.86 0.01 25
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  • Page 17 Advertisements
    • 2384 17 NAM LEE PRESSED METAL INDUSTRIES LIMITED (Company Registration No. *****0362M) (Incorporated in Singapore with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of NAM LEE PRESSED METAL INDUSTRIES LIMITED (“the Company”) will be held at Ruby Suite, Orchid Country Club, 1 Orchid
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  • GREATER CHINA/INDIA
    • 659 18 Move reflects worries over how sanctions may unsettle Iran ties Reuters [BEIJING] Chinese Premier Wen Jiabao pressed Saudi Arabia to open its huge oil and gas resources to expanded Chinese investment, media reports said yesterday, against a backdrop of growing tension over Iran and
      Reuters  -  659 words
    • 454 18 It says move in line with global trend to curb risk taking Reuters [MUMBAI] India’s central bank has set guidelines for compensation of senior bank executives, imposing restrictions on guaranteed bonus, severance pay as well as a cap on variable pay,
      Reuters; AP  -  454 words
  • Page 18 Advertisements
    • 2632 18 Goodland Group Limited (Incorporated in the Republic of Singapore) (Registration No: *****5522N) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of the shareholders of Goodland Group Limited (the “Company”) will be held at Seletar Country Club, 101 Seletar Club Road, Seletar Room, Level
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    • 750 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ACAPULCO SHIPPING PTE LTD Company registration no. *****2751G (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that the Final Meeting of the
      750 words

  • WORLD
    • 800 19 M&A deals abroad jump 67% last year as firms leverage on strong yen AFP [TOKYO] Japan Inc is on an acquisitions march across Asia and around the world, new figures show, as firms armed with ever more valuable yen take strategic advantage of the currency’s
      AFP  -  800 words
    • 658 19 Free offers unlimited calls, messaging for 19.99 euros monthly AFP [PARIS] Hailed as the French Steve Jobs, entrepreneur Xavier Niel is shaking up the country’s mobile phone market with a maverick style far removed from France’s traditionally conservative business practices. A rare business heavyweight
      AFP; REUTERS  -  658 words
    • 598 19 AFP [BRUSSELS] Britain would have to renegotiate its European Union membership if Scotland voted for independence, senior EU sources have told AFP as Scotland and England fight a high-stakes referendum battle. The possible break-up of the United Kingdom made international headlines
      AFP  -  598 words
    • 269 19 AFP [YANGON] The European Union will respond “in concrete terms” to recent reforms by Myanmar’s regime, France’s foreign minister said yesterday after a historic meeting with pro-democracy leader Aung San Suu Kyi. Alain Juppe is the highest level French diplomat to visit the country
      AFP  -  269 words
    • 822 20 Lure of growing middle class aside, brands still need to overcome challenges AP [RIO DE JANEIRO] Brazil has been long dismissed as the land of skimpy bikinis and rubber flip flops. But with its galloping economy and hordes of newly
      AP; PHOTOS: AP  -  822 words
    • 490 20 He is visiting China, Japan in bid to lift British economy Reuters [LONDON] British Finance Minister George Osborne travels to China and Japan this week in a drive to attract Asian investment and lift Britain’s faltering economy. Mr Osborne’s tour, which
      Reuters; AFP  -  490 words
    • 410 20 NYSE execs balking at conditions of EU anti-trust services AFP [BRUSSELS] The proposed merger of Deutsche Boerse and NYSE Euronext which would create the world’s largest market operator, worth over US$17 billion looks seriously compromised just weeks from a European Union competition decision. With
      AFP  -  410 words
    • 505 20 NYT [LONDON] Dutch financial services group ING has said that it will not pay a dividend to shareholders until it repays all of the state aid it received during the recent financial crisis. ING’s chief executive Jan Hommen
      NYT  -  505 words
    • 693 21 He warns Japan will face same situation if it does not tackle fiscal problems Bloomberg [TOKYO] Japanese Prime Minister Yoshihiko Noda said Standard Poor’s credit rating downgrade of nine European nations underscores how critical it is to boost Japan’s finances to contain the
      Bloomberg  -  693 words
    • 677 21 New constitution, governance style alarm critics, EU AP [BUDAPEST] He paid youths to attend his speech and clap. He championed laws to silence critical journalists. He rammed through a constitution aimed at remaking Hungary on conservative Christian values. Prime Minister Viktor Orban, who
      AP; AFP  -  677 words
    • 944 21 AP [NEW YORK] A Malaysian company’s plan to build a US$4 billion convention centre and big-time casino on the outskirts of New York City could be the biggest shot fired yet in a tourism arms race that has seen a growing number
      AP  -  944 words
    • 478 21 It wants to reduce maximum jail sentence to three years from 15 years Bloomberg [BANGKOK] A Thai group began a public campaign to change a law protecting King Bhumibol Adulyadej from criticism amid a rising number of cases, resisting pressure from the military and
      Bloomberg  -  478 words
  • Page 19 Advertisements
    • 248 19 Wee KimWee School of Communication and Information REALISE YOUR HIGHEST ASPIRATIONS with one of the world’s fastest-rising universities. NTU. MSc in Knowledge Management Application for August 2012 Intake A fast-rising global university, Nanyang Technological University (NTU) has been consistently ranked among the world’s top 1% of universities. In 2011, NTU
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  • Page 21 Advertisements
    • 522 21 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MERCANTILE ENTERPRISES (PRIVATE) LIMITED (In Members’ Voluntary Liquidation) Company Reg. No. *****0669C NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 (the “Act”) that the Final Meeting of Members
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  • AVIATION/SHIPPING
    • 477 22 Oversupply of ships drags charter rates to under operating costs in Pacific Bloomberg [LONDON] The Baltic Dry Index, a measure of costs to transport dry-bulk commodities, fell to an 11-month low as a worsening glut of ships pulled rents below operating costs in
      Bloomberg  -  477 words
    • 676 22 Reuters [GENEVA] The United States pressed the European Union on Friday for hard evidence that it has complied with a trade ruling on subsidies to planemaker Airbus in a showdown that could kick off the next stage in the world’s largest and costliest
      Reuters; REUTERS  -  676 words
    • 603 22 One-third of cruise vacations arranged from January-March Bloomberg [NEW YORK] The timing of Carnival Corp’s Costa Concordia cruise ship’s grounding off the coast of Italy, at the start of the peak booking season, may exacerbate the company’s losses. About one-third of all cruise vacations
      Bloomberg; AP  -  603 words
    • 495 22 Bloomberg [WASHINGTON] US pilots and airlines have failed to persuade a judge to temporarily block the Export-Im-port Bank of the United States from providing Air India Ltd with US$1.3 billion in loan guarantees to buy Boeing Co aircraft. US District Judge James
      Bloomberg  -  495 words
  • Page 22 Miscellaneous
    • 311 22 CRYPTIC CROSSWORD Across 1 Edna’s kebab is mixed with cheap tinned food (5,5) 9 Duck, mate! Here comes a stone! (4) 10 Not in favour of rigid price control that’s for winter motoring (10) 11 They give gold to be held by university staff (6) 12 Drawing stumps? (3-4) 15
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  • DINING OUT
    • 676 23  -  NEW RESTAURANT Seki #01-02 Rendezvous Hotel Gallery 9 Bras Basah Road Tel: 6336-3806 By Jaime Ee WHEN you enter the newly-opened Japanese restaurant Seki, there's no doubt who the star of the show is and it's not the sashimi. Seki is Takuma Seki and he will
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    • 731 23  -  NEW RESTAURANT Five Dime 297 River Valley Road Tel: 9236-5002 Open from 12pm to 12am on weekdays, closed on Tuesdays. Saturday, 10am to 12am; Sunday 10am to 10pm By Cheah Ui-Hoon DESIGNER eateries have been popping up in Singapore lately, and the latest one, Five
      ST FILE PHOTO  -  731 words
  • Page 23 Advertisements
    • 184 23 i 5> gnrs i Ji. *'<> y, 71 ABUNDANT BEGINNINGS. AUSPICIOUS REUNIONS. MandarinCourt (p A PROSPEROUS DRAGON LUNAR NEW YEAR AT MANDARIN ORCHARD Mandarin Orchard Singapore presents signature festive delicacies set to bring much prosperity and abundance to you and your loved ones in celebration of the Lunar New Year.
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    • 70 23 Valentine’s Promotion Subscribe to Shape and Men’s Health! FREE six issues when you sign up for 12 issues at only $72! PLUS Win a pair of Ingersoll watches* worth $1,148 when you subscribe! Three pairs (Ingersoll Corondo for him, worth $559 each, and Ingersoll Baton Rouge for her, worth $589
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  • SINGAPORE STOCKS
    • 1566 24 Week ended: Jan 13 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol ('000) Week Last Quote High Low Buyer Seller Div GrYld Cvr Net P/E M Cap Smil 19.5
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    • 268 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Low Company Last 1 0.2 t Advanced System 0.4 +0.1 574 0.4 0.2 0.2 0.4 13.3 6.6 Vol (’000) Week Last Quote Div Gr
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    • 117 25 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.265 +0.050 CapitaLand 2.400 +0.060 CapitaMall 1.745 +0.020 CityDev 9.320 +0.230 ComfortDelGro 1.445 +0.010 DBS Grp 12.920 +0.520 F&N 6.470 -0.030 GLP 1.865 +0.055 Genting SP 1.540 +0.010 Golden Agri 0.740 +0.020 HK
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    • 2228 25 Transaction date: Jan 13 HONG KONG Vol HK$ +/-'000 Aeon Credit 5.70 unch 0 Aeon Stores 18.80 unch 0 Angang Steel 6.13 -0.06 ***** Anhui Conch 23.60 0.15 9761 Anhuiexpresswa 4.22 -0.09 2074 Asia Satellite 16.20 unch 0 Asm Pacific 95.35 -2.30 846 Bank Of E Asia 29.25
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    • 247 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 49 25.5 Genting HK US$ US31.5 +1 ***** 32.5 30 31.5 32 2074.1 15 10 OGL Resources A$ A10 5 11 1.5 214 168 TanChongInt HK189
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    • 186 25 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 14 1 2 0 0 0 14 1 2 Manufacturing 100 62 37 15 7 9 115 69 46 Commerce 39 19 16 9 2 3 48 21 19 Tpt/Stor/Comms 33 5 8
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    • 994 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 118.5 +0.5 21 118.5 117.5 116.5 118 540.9 1261 856 CIMBAsean40 100US$ US977 +11 11 977 953 979 985 39.1
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 116,401 116,401 428,155 428,155 Manufacturing 1,024,015 163,505 1,187,520 778,847 2,381 781,228 Commerce 687,658 37,136 724,794 764,196 3,029 767,225 Tpt/Stor/Comms 568,728 106,937 675,665 764,570 14,434 779,004 Finance 95,380 605 95,985 916,782 118 916,900 Construction 145,063 22,175
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  • Page 25 Advertisements
    • 26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. The Business Times
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  • FINANCE & COMMODITIES
    • 373 26 In local curr In S$ In US$ dy yr dy yr dy yr Jan 13 Index Change Change Change Change Change Change World Preliminary 846.5 -0.4 2.0 -0.4 1.2 -0.7 1.4 EAFE Preliminary 692.6 0.0 1.5 -0.3 0.0 -0.5 0.2 Europe Preliminary 1040.3 -0.4 1.3
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    • 77 26 CRUDE OIL PRODUCTS Jan 12 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 113.65 1.17 WTI (Near Mth) 98.99 -1.99 Dubai (1-Mth F) 110.45 0.64 Tapis blend 120.17 0.23 Minas 118.37 0.23 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.11 -1.56 Jet Kerosene 128.30 -0.70 US$/barrel Opec Oil
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    • 114 26 As on 13 January 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METALS GOLD FUT FEB2012 1649.70 1627.50 1630.70 356 CURRENCY AUD-USD FUT MAR2012 1.0292 1.0230 1.0201 3065 EUR-USD FUT MAR2012 1.2879 1.2658 1.2659 8169 USD-JPY FUT MAR2012 76.92 76.63 76.85 2982 BASE METAL
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    • 152 26 Jan 13 SICOM RUBBERFutures (Closing prices) RSS 3(US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Feb 12 344.9 253 Mar 12 346.6 316 Apr 12 348.7 155 May 12 354.0 254 Jun 12 355.0 216 Jul 12 356.0 128 Aug 12 355.0 96 Sep 12
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    • 65 26 Jan 13 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2113.75 2133.75 3 months 2145.00 2158.00 Copper, Grade A(US$/tonne) Cash 7991.00 7995.00 3 months 8000.00 7981.75 Lead(US$/tonne) Cash 1986.50 2009.50 3 months 2011.50 2025.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • 107 26 Jan 13 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 12 1160.00 1178.50 1185.25 1172.75 Mar 12 1158.25 1182.50 1194.50 1157.50 May 12 1167.75 1192.50 1204.50 1167.25 Jul 12 1177.75 1202.75 1214.75 1177.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 12 50.20
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    • 78 26 Jan 13 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 12-Apr-12 0.34 1-Year BY*****W 01-Nov-12 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01-Jul-13 102.87 5-Year N*****0W 1.125 01-Apr-16 102.49 3-Month 10-Year NX*****X 2.250
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    • 449 26 Jan 13 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.5550 0 2889 Jun12 99.5250 0 4312 Sep12 99.5000 0 666 Dec12 99.4750 0 579 EUROYEN TIBOR FUTURES Mar12 99.6550 0 1949 Jun12 99.6625 0 1447 Sep12 99.6600 0 716 Dec12 99.6575 0 116 Mar13 99.6500
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    • 80 26 Jan 13 COCOA (£/tonne) Close Prev High/Low Mar 12 1511 1545 1520/1485 May 12 1525 1554 1533/1495 Jul 12 1538 1567 1545/1508 Sep 12 1550 1580 1555/1528 COFFEE(US$/tonne) Close Prev High/Low Jan 12 1817 1865 1882/1820 Mar 12 1832 1885 1907/1831 May 12 1861 1908 1932/1860 Jul 12 1889
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    • 471 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 103 37.50 28 Cooo) Conv Ratio Baker Technology Ltd W*****6 3.8 1 32 38 6.84 10 Price Prem Disc Gearing Expiry Mths Left Asia-Pacific Strategic
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    • 470 26 Jan 13 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.053 6.526 0.805 8.035 53.099 93.980 0.793 11.878 3.242 1.305 93.375 45.262 1.333 8.324 0.975 31.008 32.906 0.673 1.034 Canada 0.950 6.197
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    • 71 26 Jan 13 Ml I mth njlM? J rnUn A 41 tW9* 3 MlP'l a nf* ft*jW cmur\ li!0i<3 D«9<7 OfWV DVUWi if IM p «o;. SWAP oMtr iMn (W) p ,»l T iT j rmh* n4-.;*,T 3 mill?. n«is?o o nkn U 4wl|i\ "i -M„ n C unmr iWAF
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    • 140 26 Jan 13 GOLD(US$/oz) Jan 13 Jan 13 Hong Kong 1653.30 1653.30 Jan 13 Jan 13 Jan 12 London 1633.29 1654.99 1635.01 1655.80 Source: Thomson Reuters CAST BAR Jan 13 (S$) Selling Buying Kilobar 72,982.56 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 163 68 5gm 464 340 10gm
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    • 57 26 Jan 13 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 12 3140.0 3207.0 3140.0 3140.0 4 132 Feb 12 3191.0 3220.0 3190.0 3148.0 2185 8886 Mar 12 3183.0 3202.0 3186.0 3143.0 ***** ***** Apr 12 3179.0 3209.0
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    • 24 26 Jan 13 Open High Sett STI Jan 2791.0 SIMSCI Jan 315.0 319.5 319.1 Taiwan Jan 259.5 262.8 259.8 Source: SGX Derivatives
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    • 154 26 Jan 13 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3319 1.3333 1.0343 1.0346 Canadian dollar 1.2648 1.2663 0.9822 0.9826 Euro 1.6544 1.6564 1.2848 1.2853 NZ dollar 1.0206 1.0218 0.7926 0.7929 Sterling pound 1.9805 1.9825 1.5380 1.5384
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    • 22 26 Jan 13 S$ Bid Offer 1-month 1.2876 1.2887 2-months 1.2876 1.2886 3-months 1.2872 1.2883 6-months 1.2852 1.2867 Source: OCBC
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    • 121 26 As at 9am Jan 13 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.36 1.296 Can dollar 1.287 1.238 Euro 1.68 1.616 Sterling pound 2.011 1.934 NZ dollar 1.05 1 US dollar 1.307 1.257 Local dollars to 100 units of foreign
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    • 154 26 Jan 13 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 3/16 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.02 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.60 0.40 3 months 0.75 0.55 6 months 1.00 0.80 9 months 1.15 0.95 12
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  • Page 27 Advertisements
    • 1219 27 The Business Times Shipping times 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 Email: singapore@balisagp.com Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Antwerp/UK Destination STXPO TBN
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    • 1384 27 WAN HAI INTERNATIONAL PTE LTD UEN: *****4695M TEL: *****588 (14 LINES) FAX: *****163 PKL TEL: (03) *****588 FAX: (03) *****566 PEN TEL: (04) *****00 FAX: (04) *****99 JOH TEL: (07) *****23 FAX: (07) *****21 SUR TEL: (031) *****75 FAX: (031) *****14/*****05 JKT TEL: (021) *****88 FAX: (021) *****88 PLM TEL:
      1,384 words

  • Page 28 Advertisements
    • 947 28 Shipping Times HDS LINES THE SHORTEST TRANSIT TO PERSIAN GULF CONTAINERS SERVICE TO TANZANIA, KENYA, MIDDLE EAST, IRAN, PERSIAN GULF, IRAQ, CIS, INDIA PAKISTAN HDM SPL Approx transit time ex-Singapore 8 D 9 D 14 D VESSEL~ VOY SIN~ PKG~ JEA~ BND~ BIK ALVA~ HDM 0115S 17 Jan 18 Jan~
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    • 680 28 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY~ Ramp(KT)~ Lifting(KT)~ MUA~ SIN~ PKL~ KUC~ KK~ JKT POSITIVE STAR 68 100 17/01 19/01 SEA CORAL 34 60 27/01 29/01 ASIAN NAGA 9 55 80 24/01 27/01 28/01 30/01 SHENG SHI 32 100 30/01 31/01 02/02 MALAYSIA STAR
      680 words
    • 447 28 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION INARAN 01/12 18/01 20/01 BELITUNG/PKL BALAM VICTORY 6 01/12 17/01 19/01 JAMBI/PEKAN BARU SUN FLORA 02/12 IN PORT 17/01 PALEMBANG/PANJANG BERJAYA II 01/12 18/01 20/01 BENGKULU/PADANG SIANIRI 02/12 17/01 19/01 BELAWAN/LHOKSEUMAWE BERJAYA I 02/12 20/01 22/01 SABANG/MALAHAYATI
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  • BizIT
    • 921 29  -  reliminary 2011 numbers show flat market, writesAMIT AMIT ROY CHOUDHURY PRELIMINARYcalculationsshow that, after two quarters of positive growth, worldwide PC shipments slumped by 1.4 per cent year-on-year in the fourth quarter of last year to 92.2 million units, according to research agency Gartner. The
      921 words
    • 628 29  -  By AMIT ROY CHOUDHURY WHILE many operators in Singapore are looking at withdrawing plans which provide unlimited data bundles, data download volumes will continue to increase, according to an industry watcher. Speaking to BizIT, Michael Flanagan, the chief technology officer (CTO) of Arieso,
      628 words
    • 420 29 AP [LAS VEGAS] Sure, today’s phones can deliver the sound of a heartbeat. But how would you like to actually feel the throbbing? A few companies want to replace the crude vibration motors in today’s phones and tablets with something that provides a
      AP  -  420 words
  • Page 29 Advertisements
    • 247 29 How IT can improve your bottom line Now’s the best time to take advantage of the business IT options available to you: infocomm technology, infrastructure and communications support and schemes to enhance productivity. Infocomm technology is a key enabler for growing business and helps to overcome manpower constraints. Optimising technology
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    • 177 29 Pride Prestige TOKYO JAPAN of CENTRAL TOKYO M I NAM IAOYAMA MASTERS HOUSE IS W ULl -7 X 2 X d X ?T V Stylish sophisticated living with a suburban feel Walking distance to dining the fashionable districts of Roppongi Omotesando Ideal property for foreign investors MINAMIAOYAMA 7-minute walk to
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  • BizIT
    • 942 30  -  Becoming regional centre for IP mediation also boosts R&D, reportsVICTORIA VICTORIA HO SINGAPORE is quickly emerging as a safe haven for the creation of new intellectual property and knowledge, according to a senior World Intellectual Property Organisation (WIPO) official. Erik Wilbers, director of
      942 words
    • 448 30  -  By VICTORIA HO EBAY is collaborating with SingPost to launch a new shipping service for local merchants shipping to the US. The new service, called ePAC, is a joint effort between the online auction pioneer and SingPost, together with the United States Postal
      448 words
    • <what’s up>
      • 57 30 ONLINE services and hosting provider, Webvisions, has appointed Poh Mui Hoon as its new CEO. Ms Poh was formerly the CEO of NETS, and sits on the board of a number of organisations such as the finance committee of SATA and the Institute of
        57 words
      • 49 30 KELVIN Lim has moved from 3Com to Sophos as the director of sales for Asean. He was sales director at 3Com covering the Philippines, Vietnam and Asian emerging countries. He will report to Sophos’s vice-president for Asia-Pacific, Stuart Fisher, in his new role.
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      • 37 30 InMobi has appointed Anita Swan as regional marketing director, Asia-Pacific. She will take charge of the company’s marketing strategy for the region covering South-east Asia, China, Korea, Australia, New Zealand and India.
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      • 33 30 Motorola’s new Xoom 2 tablet has been released. The device comes with Android 3.2, a dual-core 1.2 GHz processor and is 3G-enabled. It is priced at S$978.
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      • 54 30  -  Compiled by VICTORIA HO Asus has launched its Eee Pad Transformer Prime here, what it claims is the first tablet running Android 4.0 Ice Cream Sandwich on a quad-core processor from Nvidia. It will retail on its own at S$759 and with a
        54 words
    • 243 30 AFP [LAS VEGAS] A USB-style key that splits in two lets people open their home or work computer files from any Inter-net-linked computer. Singapore-based iTwin was at the Consumer Electronics Show (CES) here last week to entice technology fans with a way to
      AFP  -  243 words
    • 1070 30  -  A holistic strategy will ensure interoperability, resiliency, security &lt;you say&gt; By CHUNG HAO NING The writer is IBM Singapore’s country leader for cloud computing CLOUD computing is real. It is here to stay, and is emerging as a critical evolution in the way that
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