The Business Times, 9 February 2012

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Thursday, February 9, 2012
    25 words
  • 709 1  -  She tells business delegation that investors should wait and watch By S JAYASANKARAN in Yangon IT was blazing hot under a blue February sky when the four SUVs turned into the compound of Aung San Suu Kyi’s home. Ms Suu Kyi, a
    AP  -  709 words
  • 960 1  -  PM says there’s need to increase rate, but gradually; SNEF urges cautious approach By TEH SHI NING [SINGAPORE] It is a change the labour movement has been pushing for, but one which employers and businesses have resisted. Now, a hike in
    960 words
  • MARKETS DIGEST
    • 110 1 GST INDEX 2,982.20 (+24.42) GST INDEX FUTURES 2,982 (+24) GSIMSCI 343.34 (+3.51) GSIMSCI FUTURES 344.20 (+4.90) us$ s$ US$ (S$ per US$) 1.242 (US$/S$ per 1.592 1.977 EURO (US$/S$/E) 1.329 1.650 Foreign currency per US$ S$ YEN 77.10 62.00 RM 3.000 2.415 HK$ 7.754 6.243 BAHT 30.74 24.75 RUPIAH
      110 words
    • 17 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.727 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
      17 words
  • Page 1 Advertisements
    • 104 1 BizIT Cyber attacks getting more sophisticated PAGE 26 COEs Premiums rise across the board PAGE 11 HOCK LOCK SIEW Is the worst really over for equity markets? PAGE 6 Going on 20, Wong Partnership won’t rule out merger to grow I PAGE 4 I DO BETTER IF POSSIBLE, AND THAT
      104 words
    • 9 1 COMPANIES China Sky CEO resigns PAGE 6 *****1 *****4
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  • TOP STORIES
    • 467 2  -  They say the Rule would restrict their activities outside the US By SIOW LI SEN [SINGAPORE] Singapore banks have made their objections to the Volcker Rule which prohibits proprietary trading, saying that it would restrict their activities outside the United States. DBS Group
      467 words
    • 459 2  -  But the over-$5m purchase category is likely to remain unaffected: consultants By MICHELLE TAN [SINGAPORE] Buying behaviour among foreigners may change in the coming months as the real impact of the additional buyer’s stamp duty (ABSD) kicks in, say consultants. For one, despite their
      459 words
    • 582 2 Older workers may get CPF wish; costs a worry IT IS a change the labour movement has been pushing for, but one which employers and businesses have resisted. Now, a hike in the employers’ Central Provident Fund contribution rates for older workers seems firmly on the cards, with
      582 words
    • 658 4  -  Guidelines given for firms’ schemes of arrangement which could set precedent By CONRAD TAN [SINGAPORE] The Court of Appeal has explained its decision to modify a Singapore company’s debt restructuring plan and order a re-vote in a landmark case that is likely to set
      658 words
    • 621 4 72% of employers gave 6% raise last year, survey shows Bloomberg Reuters [BEIJING] Employers in Chin a s f as t est-growing major economy, are more willing to give pay raises than Asian counterparts, a private survey showed. About 72 per cent
      Bloomberg; Reuters  -  621 words
    • 427 4  -  Club cites misrepresentation of qualifications and misconduct By BRYAN KOH [SINGAPORE] Singapore Island Country Club (SICC) has once again been thrust into the limelight, with the sudden sacking of its general manager and secretary JP Schneider. Just five months ago, the club hit
      427 words
    • 401 4  -  By S JAYASANKARAN in Yangon HOW do you think 14 of the region’s influential movers and shakers together with assorted journalists and aides travel to Myanmar? By chartered jet, of course. It helps when one of the 14 is Tony Fernandes, maverick owner of
      401 words
    • 740 4  -  By KELLY TAY [SINGAPORE] As WongPartnership celebrates its 20th anniversary this year, the Big Four law firm has some serious soul-searching to do. Going forward, the firm must pick one of three paths of growth: will it remain a leading
      ARTHUR LEE  -  740 words
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    • 281 4 NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP 50) AND IN THE MATTER OF HYDER CONSULTING PRIVATE LIMITED (In Members’ Voluntary Liquidation) Reg No. *****2060M NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the
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  • COMPANY NEWS
    • 759 6  -  HOCK LOCK SIEW By R SIVANITHY AFTER a month during which the Straits Times Index (STI) rose 10 per cent and daily volume regularly crossed $1.5 billion, there seems to be a sense that the worst is over for equities and that
      759 words
    • 699 6  -  Shareholders question how he is able to exit while in midst of probe By LYNETTE KHOO THE cloud of uncertainty surrounding China Sky Chemical Fibre has thickened with the resignation of its chief executive officer. China Sky said yesterday that CEO
      699 words
    • 361 6  -  Creditors may have to wait another three months By KENNETH LIM CLIENTS of MF Global Singapore will finally begin to receive some of their money after the court approved a distribution plan, although creditors may have to wait another three months for
      361 words
    • 471 9  -  Its purchase of Itochu’s stake came about the same time as its Xstrata deal By RONNIE LIM CHEMOIL Energy stock surged by as much as 39 per cent yesterday following news that Swiss commodity giant Glencore had raised its majority stake from 51.54
      471 words
    • 276 9 Bloomberg [MUMBAI] Bharti Airtel Ltd, India’s largest wireless operator, reported profit that missed analysts’ estimates as customers curbed mobile-phone use amid rising call rates. Third-quarter net income fell 22 per cent to 10.1 billion rupees (S$255.6 million) in the three
      Bloomberg  -  276 words
    • 274 9 CITIGROUP yesterday announced new senior appointments for its Asia Pacific business. It promoted the region’s head of global markets Rodrigo Zorrilla to chief operating officer, a newly created role. He will “partner with all product groups to ensure that Citi has the most
      274 words
    • 395 9  -  By LYNETTE KHOO XINREN Aluminum may acquire a 21 per cent stake in a primary aluminium producing plant in Xinjiang, with an option to buy another 30 per cent. The move is expected to boost its earnings and turn the group into
      395 words
    • 433 10  -  Markets more stable in Jan; fall in trading volumes due to holidays By KENNETH LIM STRUCTURED warrant investors in Singapore shifted towards single-stock products in January as market volatility quietened down, while the Chinese New Year muted trading volumes. Total structured warrant trading volumes
      433 words
    • COMPANY BRIEFS
      • 71 10 BIOSENSORS International Group Ltd posted a net profit for the third quarter ended Dec 31, 2011, of US$291.54 million, up from US$13.3 million a year ago. This was helped by a US$273.2 million one-off, non-cash gain from the re-measurement of its interest in a joint
        71 words
      • 133 10 EXCELPOINT Technology Ltd said its net profit for the fourth quarter ended Dec 31, 2011, doubled to US$1.92 million from US$922,000 a year ago. The decrease in other expenses and finance costs helped its bottomline, as turnover for the quarter dipped 1.1 per cent
        133 words
      • 98 10 OTTO Marine has signed a time charter contract that carries an initial value of US$20.8 million over three years. The contract has an option to extend for a further one one year, bringing the potential value of the contract up to US$35 million. The
        98 words
    • 351 10  -  By JASMINE NG RAFFLES Education’s net profit dropped to $3.5 million for the second quarter ended Dec 31, 2011, from a restated $3.88 million a year ago. The net profit attributable to shareholders for the year-ago figure was previously reported as $5.63 million.
      351 words
    • 571 10 Investors who seek safety of treasury bonds will see minimal returns, he says Bloomberg [HONG KONG] Investors should have 100 per cent of investments in equities because of valuations and higher returns than bonds, said Laurence Fink, chief executive of BlackRock Inc,
      Bloomberg  -  571 words

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  • SINGAPORE MARKETS
    • 635 8  -  Penny stocks in heavy play, led by GMG, Golden Agri, Oceanus and United Fiber STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) yesterday rose 24.42 points to 2,982.20, the third consecutive rise for the week and the 17th gain out of
      Source: Bloomberg  -  635 words
    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 13 1 2 0 0 0 13 1 2 Manufacturing 114 38 24 11 6 11 125 44 35 Commerce 49 11 9 8 1 3 57 12 12 Tpt/Stor/Comms 24 13 5
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    • 122 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 34,867 34,867 118,772 118,772 Manufacturing 536,501 112,024 648,525 321,938 1,517 323,455 Commerce 376,637 34,083 410,720 190,856 3,001 193,857 Tpt/Stor/Comms 267,186 34,580 301,766 323,815 5,775 329,591 Finance 34,477 1 34,478 158,606 158,606 Construction 238,140 114,831 352,971
      122 words
    • 113 8 Stock name Close Change CapMallsAsia 1.530 +0.135 CapitaLand 2.850 +0.110 CapitaMall 1.750 CityDev 10.820 +0.340 ComfortDelGro 1.460 +0.005 DBS Grp 13.570 +0.060 F&N 6.590 -0.050 GLP 2.000 -0.020 Genting SP 1.700 +0.055 Golden Agri 0.790 +0.020 HK Land 5.330 +0.120 JMH 53.220 -0.780 JSH 31.850 +0.150
      113 words
    • 66 8 Feb 8 VALUE CLOSE BT OB/OS 1344.00 +127.0 BT CADI -*****.00 +266.0 BT 10-day MA -*****.00 +135.0 FTSE ST Mid Cap 676.14 +8.94 FTSE ST Small Cap 466.90 +8.30 FTSE ST All Share 720.06 +6.91 FTSE ST China Top 231.60 +5.69 FTSE ST China 262.62 +5.43 FTSE
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    • 56 8 VOLUME GMG Global 181,970,000 Golden Agri 152,206,000 Genting SP 145,153,000 Oceanus 135,814,000 UniFiber 110,148,000 ChinaESave 101,903,000 Artivision 85,837,000 Interra 81,870,000 Yoma 80,990,000 IPC Corp 75,428,000 VALUE($) Genting SP 243,142,825 SingTel 136,434,340 Golden Agri 119,044,970 Noble Grp 90,122,675 Keppel Corp 80,576,905 CapitaLand 69,595,030 Cosco Corp 55,004,770 SembMar 52,227,980
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    • 731 8  -  Compiled by LYNN KAN SATS Feb 8 close: $2.36 DBS Group Research SATS’ Q3 2012 net profit declined by 25 per cent y-o-y to $38.2 million on flat revenue, as expenses rose by a faster clip to $398.5 million (up 3 per cent y-o-y). As a result, Ebit
      Source: Bloomberg  -  731 words
    • 452 8 CURRENCIES Reuters [LONDON] The euro rose to a twomonth high versus the dollar yesterday on optimism that Greek leaders are nearing a deal to secure a second bailout and avoid a messy default, though analysts were sceptical of fresh gains with the deal
      Reuters; AFP  -  452 words
    • 109 8 BY CENTS CLOSE UP GLD 10US$ ***** 289.3 1.4 DBXT MSKorea 10US$ 5835 166.4 2.4 DBXT FTVietnam 10US$ 2374 110.5 3.9 STXPO 100 888 58.0 7.0 Lyxor EmergingMkts 1 1041 50.9 4.1 DBXT MSTHAI 10US$ 1745 48.4 2.3 DBXT MSTaiwan 10US$ 1806 41.0 1.9 CityDev 1082 34.0 3.2 CityDev.ES.1202
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    • 126 8 BY CENTS CLOSE DOWN JMH 5322 -96.8 -1.4 DBXT AUD Bonds 5AU$ ***** -90.2 -0.4 DBXT Nifty 10US$ ***** -48.4 -0.3 Asia Pac Brew 2887 -23.0 -0.8 DBXT S&P Short 10US$ 3856 -22.4 -0.5 DBS Bk 4.7% NCPS 100 ***** -10.0 -0.1 DBXT MSAsExJp 10US$ 3120 -7.5 -0.2 IS
      126 words
    • 5 8 DAILY
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  • SINGAPORE NEWS
    • 344 11  -  Longer 3-week gap between tenders also a factor, say distributors By SAMUEL EE COE premiums jumped across the board as aggressive retail promotions lured buyers back into the showroom, according to some motor distributors. They added that the longer than normal gap between COE
      344 words
    • 436 11  -  Norway’s REC sees demand shifting from Europe to Asia By RONNIE LIM DEMAND for solar photovoltaic cells this year is expected to shift from Europe to Asia and the US, Norway’s Renewable Energy Corporation said yesterday. This was reinforced by the relocation of
      436 words
    • 181 11  -  By YEN MENG JIIN DREAMS turned to reality for the children of Melrose Home recently when 11 supercars rumbled into the home’s compound. Eight Lamborghinis and three Lotuses became “toys” for the kids aged between four and 18 for the afternoon, and the joy
      YEN MENG JIIN  -  181 words
    • 387 11  -  By LEE U-WEN FOREIGN Minister K Shanmugam arrives in China today for a three-day visit his first to the world’s most populous country since he became Singapore’s top diplomat last May. Mr Shanmugam will head straight for Beijing after completing a week-long visit to
      387 words
    • 327 11  -  It scores well for openness to trade, cultural integration By LESLEY TEOH SINGAPORE has maintained its third place ranking behind Hong Kong and Ireland on the Globalisation Index 2011. The Globalisation Index was jointly released by Ernst Young and the Economist Intelligence Unit (EIU)
      327 words
    • 489 11  -  Consultancy Kelly says it’s all about moving knowledge By CHUANG PECK MING COMPANIES, especially its human resource professionals, must become sup-ply-chain managers when it comes to attracting and retaining talent for business success in a knowledge economy, says outsourcing and staffing consultancy
      489 words
    • 248 11  -  3 key projects to combine good design with tech By CERELIA LIM IN a boost to its ambition to be a technologically intensive design school, the Singapore University of Technology and Design (SUTD) opened an international design centre yesterday. A collaboration with the Massachusetts Institute
      248 words
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      35 words

  • ECONOMY WATCH
    • 381 12 Central bank sees flood-hit economic activity returning to normal in H2 Reuters [BANGKOK] Thailand’s central bank cut interest rates last month to boost recovery from flooding, but policymakers believed that economic activity will return to “normal” in the second half of 2012
      Reuters  -  381 words
    • 452 12 Q4 contraction may exceed forecast as imports also drop Reuters [BERLIN] German exports fell at their fastest rate in nearly three years in December and imports also unexpectedly dropped, suggesting Europe’s bulwark economy could have contracted more than forecast in the
      Reuters  -  452 words
    • 447 12 Auto, student loans make up bulk, but wages not in sync AP [WASHINGTON] Americans accelerated their borrowing in December for the second straight month, running up more credit card debt and taking out loans to buy cars and attend school. Consumer borrowing rose
      AP; REUTERS  -  447 words
    • 907 12 Ridout expected to argue against interest rate hikes Bloomberg [SYDNEY] Incoming Australian central bank board member Heather Ridout aims to bring more attention to the nation’s overvalued exchange rate as she joins the policy debate amid deliberations on lowering interest rates.
      Bloomberg; BLOOMBERG  -  907 words
    • 366 12 Reuters [JERUSALEM] Israel’s main labour union declared a strike yesterday that shut airports, ports, banks and the stock market after talks with the government failed to produce an agreement on the status of workers employed through labour contractors. The Histadrut labour
      Reuters  -  366 words
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      53 words

  • MALAYSIA/INDONESIA
    • 283 13 15b yen investment to keep pace with the rise in demand, says official Reuters [JAKARTA] Japan’s Toyota Motor Corp will boost annual capacity at its Karawang plant in Indonesia by 50,000 cars to 120,000 cars in a bid to keep up with
      Reuters; BLOOMBERG  -  283 words
    • 593 13 Bloomberg [SINGAPORE] Indonesia’s Islamic finance industry is luring investment from Middle Eastern and European banks as its regulator seeks to double syariah-compli-ant assets to 10 per cent of the total this decade. Al Rajhi Bank, Saudi Arabia’s largest, is chasing investment banking business
      Bloomberg  -  593 words
    • 506 13 Western sanctions making things difficult for Teheran Reuters [KUALA LUMPUR] Malaysian palm oil exporters have stopped supplying Iran with most of the 30,000 tonnes of the food staple the Middle Eastern country buys each month, or about half
      Reuters  -  506 words
    • 500 13  -  Legislature bill to authorise 3 gaming outfits pulled by sponsor, citing lack of support By PAULINE NG in Kuala Lumpur SHARES of gaming group Genting came under pressure yesterday after a bill in the Florida legislature that would have paved the way for
      500 words
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    • 29 13 Rupee run Is the recovery of Asia’s worst performing currency here to stay? CRAB DINNER SPARKS SURGICAL IDEA GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST
      29 words

  • GREATER CHINA/INDIA
    • 631 14 Chinese banks likely to end up carrying any losses, as both sectors state-owned Reuters [SHANGHAI] China’s steelmakers have racked up US$400 billion in debt, which some may struggle to repay, making them a potential drag on a banking sector already facing rising bad loans
      Reuters; REUTERS  -  631 words
    • 591 14 NYT [NEW DELHI] When Indian Finance Minister Pranab Mukherjee flew to Chicago recently to address a group of US executives, it was to deliver an urgent message: India is still open for business. Usually a cautious speaker who offers only vague promises, Mr
      NYT; BLOOMBERG  -  591 words
    • 137 14 Bloomberg [OTTAWA] Canada and China reached an investment-protection agreement yesterday, as the holder of the world’s third-largest oil reserves looks to deepen economic ties with Asia and lessen its reliance on the US. The agreement was announced after Canadian Prime Minister Stephen Harper met
      Bloomberg  -  137 words
    • 465 14  -  S&P sees delay in response to possible global downturn By RAY CHAN EJ Insight CHINA is poised to undergo a significant change in its top leadership structure, which may pose a delay in its response to a potential global economic downturn led by
      EJ Insight  -  465 words
    • 471 14 Bloomberg [BEIJING] China may “move shortly” to help Europe resolve its debt crisis by providing an investment of as much as 100 billion euros (S$ 165 billion), said Yuan Gangming, an economist at the Chinese Academy of Social Sciences. The
      Bloomberg  -  471 words
    • 233 14 Bloomberg [NEW DELHI] India’s government gets a chance to rebuild its political support after a year of setbacks and gauge the popularity of Rahul Gandhi, its touted next leader, as voters went to the polls in the nation’s most populous state. The Congress
      Bloomberg  -  233 words
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  • WORLD
    • 542 15  -  44% tumble raises concern over risk of capital outflow hitting bond market By ANTHONY ROWLEY in Tokyo JAPAN’S current account surplus plunged dramatically to a 15-year low in 2011, it was revealed yesterday, raising the possibility that the huge external surpluses that the
      REUTERS  -  542 words
    • 478 15 AFP MADRID S p a i n s right-leaning prime minister, Mariano Rajoy, warned yesterday that the country’s near-23 per cent unemployment rate will rise even further this year. Spain’s unemployment rate hit a 17-year high of 22.85 per cent at the end
      AFP  -  478 words
    • 595 15 His inflation record close to impeccable, beating both Greenspan, Volcker Bloomberg [NEW YORK] The numbers are proving Federal Reserve chairman Ben Bernanke’s critics wrong. More than a year after Republicans, from House Speaker John Boehner of Ohio to presidential candidate Ron Paul of Texas,
      Bloomberg  -  595 words
    • 633 15 AFP [TOKYO] Credit rating agency Standard and Poor’s (S&P) yesterday lowered its rating of Japanese electronics and entertainment giant Sony, less than a week after the company said it was expecting a terrible year. S&P dropped its assessment of the firm’s longterm credit
      AFP  -  633 words
    • 281 15 Bloomberg [HELSINKI] Nokia, the world’s largest maker of mobile phones, will cut about 4,000 jobs in its factories in Hungary, Mexico and Finland to speed up the delivery of devices and get closer to suppliers. Device assembly is expected to be transferred
      Bloomberg  -  281 words
    • 712 16 Race for Republican nomination may run past March 6 Super Tuesday AP [WASHINGTON] A resurgent Rick Santorum won Republican presidential contests in Minnesota, Colorado and Missouri in a stunning sweep that raised new questions about front-run-ner Mitt Romney’s appeal to conservatives and
      AP; REUTERS  -  712 words
    • 327 16 Bloomberg [LONDON] Deutsche Bank AG, Germany’s largest lender, told employees it will impose a 200,000 euro (S$330,415) cap on bonuses paying out this year, said three people with knowledge of the discussions. Staff will receive as much as 100,000 euros in cash and 100,000
      Bloomberg  -  327 words
    • 657 16 Stocks, euro rise on hopes deal will be struck in Athens AP [ATHENS] Greek coalition leaders are preparing their responses to a draft deal on harsh cutbacks creditors are demanding to approve a 130 billion euro (S$215 billion) bailout that will help the country
      AP; REUTERS  -  657 words
    • 629 16  -  By LEE U-WEN [SINGAPORE] In the eyes of Singapore, the relationship between the United States and China is “not a ze-ro-sum game”, said Foreign Minister K Shanmugam yesterday. The rise of China does not imply the decline of the US because
      629 words
    • 235 16 AFP [ATHENS] Greeks are still overspending on unnecessary medicine and hospital tests, burdening social welfare funds as the country struggles with its debt crisis. Health Minister Andreas Loverdos said yesterday that 3.5 million axial scans had been carried out in Greece last year, double the
      AFP  -  235 words

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  • FOCUS: EUROZONE
    • 2100 17  -  Policy reactions to the eurozone crisis are seen by many as short-sighted, incoherent, and driven by political expediency. This column disagrees. What we are seeing is a game of chicken among the key political and economic powers in Europe By C FRED BERGSTEN JACOB
      AP  -  2,100 words

  • EDITORIAL & OPINION
    • 507 18 EDITORIAL INDIA’S Central Statistical Organisation (CSO) has announced advance estimates that show that the GDP (gross domestic product) of Asia’s third largest economy is expected to grow 6.9 per cent in the fiscal year ending March 31. This is well short of last year’s
      507 words
    • 863 18  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent THERE’S been a lot of talk recently about “haircuts”, which of course is a euphemism for taking a loss on a loan. While a minor “trim” might seem relatively painless, the kind
      863 words
    • 1178 18  -  Private banks should develop a new, differentiated business model that works for region By SHAYNE NELSON The writer is global head of high value client coverage and CEO of Standard Chartered Private Bank S ASIA emerges as the world’s largest wealth region, the one
      FILE PHOTO  -  1,178 words
    • 1162 19  -  Also, being aware of the intention behind tax legislation will help firms with their tax planning and structure in the region By ANDY BAIK The writer is partner, international tax services at Ernst Young Solutions LLP IN THE world of taxation, the word
      AFP  -  1,162 words
    • 867 19  -  By NITIN PANGARKAR The writer is NUS Business School professor of strategy and NUS MBA academic director SMRT recently experienced two extended service disruptions in rapid succession which have been the cause of much discussion in the Singapore media as well as Parliament. What
      867 words


  • AVIATION
    • 484 20 New directive covers entire fleet of 68 Airbus aircraft now in operation Bloomberg [LONDON] Airlines operating the Airbus SAS A380 aircraft will be required to perform wider inspections of the superjumbos after Europe’s air safety regulator extended the checks to the
      Bloomberg; AFP  -  484 words
    • 641 20 Auction was Brazil’s boldest privatisation attempt since 1990s Bloomberg [BRASILIA] Some of the world’s biggest airport operators came away emp-ty-handed after Brazil auctioned licenses to run three of its busiest hubs. With the concessions fetching five times the minimum bid,
      Bloomberg  -  641 words
    • 355 20 Bloomberg [TOKYO] Jetstar Japan Co, the budget carrier part-owned by Qantas Airways, said it will start flights in July with services to four domestic cities from Tokyo as it gears up for competition with two other new low-cost carriers. The first flight
      Bloomberg; BLOOMBERG  -  355 words
    • 437 20 NYT [BRUSSELS] The European Union could suspend parts of a new law requiring airlines to account for their greenhouse gas emissions if countries were to make clear progress this year toward establishing a global emissions control system, a senior official said on
      NYT  -  437 words
    • 288 20 Bloomberg [SEATTLE] Airbus SAS, the world’s biggest commercial-jet builder, is starting to market a new seating concept for its narrow-body planes that could provide more hip room in aisle seats for larger passengers, an executive said. The A320 family, Airbus’s best-seller, has six
      Bloomberg  -  288 words
  • Page 20 Miscellaneous
    • 321 20 CRYPTIC CROSSWORD Across 1 Cause confusion to bird gripped by cattle disease (6) 4 Intoxicant lands drunken actor in prison endlessly (8) 9 Fuddled state reading Proust novel (6) 10 Take cart moving forward (8) 11 Hunts etc exercising horse (8) 13 It’s used to clean bad smell in London
      321 words

  • 3176 21 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 UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination Destination STXPO
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  • Page 21 Advertisements

  • SHIPPING
    • 599 22 Unusual move comes as freight market worsens Reuters [LONDON] A surplus of ships, economic turmoil and higher bunker fuel prices have battered earnings prospects for the dry bulk freight market. The operator of a grain ship will pay commodities trader Glencore US$2,000 a
      Reuters; BLOOMBERG  -  599 words
    • 452 22 Bloomberg [LONDON] The Baltic Dry Index, a measure of commodity shipping costs, rose the most in almost two months as owners idled vessels amid speculation cargo demand is increasing in China. The gauge climbed 1.9 per cent to 660, according to the Baltic Exchange.
      Bloomberg  -  452 words
    • 291 22  -  Its software has helped customers save US$700m in bunker fuel costs By LYNN KAN [SINGAPORE] With ship owners and operators in cost-reduction mode, classification society Germanischer Lloyd has opened its maritime consultancy arm in Singapore, to help them cope with their biggest headache: energy costs.
      291 words
    • 594 22 Bloomberg [LONDON] The deepest US and European oil refinery cuts in as much as three decades may mean record fuel shipments from Asia this year, driving rates for vessels hauling petrol and diesel fuel to the highest since 2008. Long-Range-1 tankers, each 630
      Bloomberg  -  594 words
    • 259 22 SGX '000 Feb 8 S$ +/-Vol CH Offshore 0.40 unch 242 Chuan Hup Hldg 0.23 0.01 335 Cosco Corp 1.25 0.05 ***** s$ Ezra Hldgs 1.18 0.02 ***** First Ship Lea 0.19 -0.01 4728 Freight Links 0.06 unch 650 Grand Banks unch unch 0 Jaya Hold Ltd 0.60
      259 words
  • Page 22 Advertisements
    • 29 22 I FREIGHT I FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      29 words
    • 34 22 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. THE BUSINESS TIMES SHIPPING TIMES Legal services required by shippers owners Can they find your services here in the Shipping Times?
      34 words

  • SINGAPORE STOCKS
    • 2881 23 Transaction date: Feb 8 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 Last Vol Day Last Quote 112.5 92.5 AIMSAMPIReit 100 +0.5 91 100.5 100 100 100.5 2 10.1 443.9 Net M
      2,881 words
    • 230 24 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 Last Vol 1 0.2 t Advanced System 0.5 unch 4101 0.6 0.5 0.5 0.6 16.7 8.3 Last Quote Div Gr Yld Net M Cap
      230 words
    • 7052 24 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** APS Alpha Fund (USD)!** AXA Wealth Mgt S'pore Pte Ltd 0.99/ Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond .0 9 748/ Global Emerging Markets!** Global Opportunities/** Global Technology
      7,052 words
    • 200 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 46 25.5 Genting HK US$ US37.5 +1.5 ***** 38 36 37 37.5 2469.2 15 10 OGL Resources A$ A10 5 11 1.5 205 168 TanChongInt HK190 +1
      200 words
    • 845 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 118 +1.4 45 118.4 117.9 116.5 118 538.6 1261 856 CIMBAsean40 100US$ US1054 +24 1 1054 1045 1054 42.2 *****
      845 words


  • FINANCE & COMMODITIES
    • 359 25 IMI u u I* Hit r»V7 "•tr *'-4» •*vn kwn r>«or C*aa>» Ow o«k CVMT c»»r ■MimiMin V iM r* 1 11 14 11 fl 1 if nvi *i «.< m; 1 i •o mm 01 •f i Ol IS V«*» 01 AX M (4
      359 words
    • 107 25 Feb 7 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 12 1232.00 1233.00 1239.50 1227.00 May 12 1241.00 1242.00 1248.00 1236.00 Jul 12 1250.75 1251.75 1258.00 1245.50 Aug 12 1249.00 1249.50 1254.50 1244.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 12 52.17
      107 words
    • 77 25 CRUDE OIL PRODUCTS Feb 7 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 116.29 0.79 WTI (Near Mth) 98.74 1.53 Dubai (1-Mth F) 113.12 1.93 Tapis blend 123.33 2.46 Minas 122.13 2.46 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 110.44 2.11 Jet Kerosene 130.75 1.35 US$/barrel Opec Oil
      77 words
    • 81 25 Feb 8 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 10-May-12 0.33 0.28 0.28 1-Year BY*****W 01-Nov-12 0.33 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 99.92 5-Year N*****0W 1.125 01-Apr-16 102.49 BQ*****F 10-May-12
      81 words
    • 445 25 Feb 8 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.5550 0 2376 Jun12 99.5450 0 849 Sep12 99.5050 0 241 Dec12 99.4750 0 870 EUROYEN TIBOR FUTURES Mar12 99.6650 0 1841 Jun12 99.6650 0 1433 Sep12 99.6600 0 679 Dec12 99.6550 0 117 Mar13 99.6550
      445 words
    • 80 25 McK .’PWwo r*wann» t=«nuj PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT APR2012 1749.50 1713.10 1747.60 479 CURRENCY AUD-USD FUT MAR2012 1.0760 1.0656 1.0737 38 EUR-USD FUT MAR2012 1.3272 1.3095 1.3244 5559 BASE METAL COPPER FUT MAR2012 8492 8364 8547 2031 INDEX IRON
      80 words
    • 169 25 Feb 8 SICOM RUBBER Futures (Closing prices) RSS 3(US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Mar 12 408.0 408.0 408.0 24 346 Apr 12 413.0 413.0 413.0 4 117 May 12 419.1 419.0 418.7 10 252 Jun 12 419.8 228 Jul 12 419.8 128
      169 words
    • 65 25 Feb 7 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2215.00 2182.25 3 months 2255.00 2223.00 Copper, Grade A(US$/tonne) Cash 8455.50 8474.25 3 months 8481.00 8500.00 Lead(US$/tonne) Cash 2153.00 2145.25 3 months 2186.00 2181.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
      65 words
    • 82 25 Feb 7 COCOA (£/tonne) Close Prev High/Low Mar 12 1472 unch 1480/1457 May 12 1488 1491 1495/1475 Jul 12 1504 1506 1510/1490 Sep 12 1514 unch 1520/1500 COFFEE(US$/tonne) Close Prev High/Low Mar 12 1861 1867 1890/1831 May 12 1876 1892 1900/1854 Jul 12 1900 1918 1925/1883 Sep 12 1921
      82 words
    • 1300 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 130 33.00 27 Aztech Grp W*****3 0.2 -0.3 1431 1 20 91 53.00 9 Baker Technology Ltd W*****6 4.8 0.8 3 1 32 8 7.08
      1,300 words
    • 470 25 Feb 8 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.077 6.823 0.816 8.406 53.184 97.181 0.835 12.091 3.252 1.293 98.183 45.783 1.346 8.165 0.989 32.002 33.322 0.681 1.084 Canada 0.928 6.333
      470 words
    • 70 25 Feb 8 IWil t») 1 mill IWSHp 0 3VJ95 2 rnlht n ihm>'1 UJ.JTH 3 iwlii ilAlffti (ijawo frrm* li7MSS UAIiSfi 9 ml*" 1)3-75*1 nniai. 1* wum UflliC i-iison-SWAP Olltr i*lc4 (M) p ;wi j rrnh* n«4i 3 miht n^vnt U hr* d %fAU 3 ~*Tr, n«i3W unmr a,?3&5
      70 words
    • 138 25 Feb 8 GOLD(US$/oz) Feb 08 Feb 07 Hong Kong 1755.00 1732.00 Feb 07 Feb 07 Feb 06 London 1738.10 1722.74 1739.10 1724.46 Source: Thomson Reuters CAST BAR Feb 08 (S$) Selling Buying Kilobar "74,920.33" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 168 70 5gm 476 349 10gm
      138 words
    • 60 25 Feb 8 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 12 3110.0 3110.0 3110.0 3110.0 175 519 Mar 12 3107.0 3158.0 3158.0 3101.0 1517 9157 Apr 12 3110.0 3155.0 3158.0 3100.0 ***** ***** May 12 3100.0 3149.0
      60 words
    • 24 25 Feb 8 Open High Sett STI Feb 2982.0 SIMSCI Feb 339.3 344.2 344.2 Taiwan Feb 277 282.7 282.7 Source: SGX Derivatives
      24 words
    • 154 25 Feb 8 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3456 1.3472 1.0838 1.0842 Canadian dollar 1.2487 1.2506 1.0057 1.0064 Euro 1.6492 1.6512 1.3283 1.3288 NZ dollar 1.0406 1.0422 0.8381 0.8387 Sterling pound 1.9764 1.9783 1.5918 1.5921
      154 words
    • 22 25 Feb 8 S$ Bid Offer 1-month 1.2416 1.2426 2-months 1.2415 1.2426 3-months 1.2412 1.2422 6-months 1.2396 1.2408 Source: OCBC
      22 words
    • 121 25 As at 9am Feb 08 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.375 1.31 Can dollar 1.274 1.225 Euro 1.68 1.616 Sterling pound 2.016 1.939 NZ dollar 1.068 1.018 US dollar 1.263 1.215 Local dollars to 100 units of foreign
      121 words
    • 155 25 Feb 8 Bid $S Offer Bid 0vernight 0.02 par 1-month 5/16 3/16 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.04 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.55 0.35 3 months 0.70 0.50 6 months 0.95 0.75 9 months 1.10 0.90
      155 words

  • BizIT
    • 540 26 Reuters A HACKER released the source code for antivirus firm Symantec’s pcAnywhere utility on Tuesday, raising fears that others could find security holes in the product and attempt takeovers of customer computers. The release followed failed email negotiations over a US$50,000 payout to the hacker
      Reuters  -  540 words
    • 865 26  -  Trend Micro official notes that data has become the new target, reports AM IT ROY CHOUDHURY reportsAMIT reportsAMIT ROY CHOUDHURY THIS year is likely to see cyber criminals acting with more persistence and sophistication, as the world shifts from the PCcentric desktop model towards mobile
      865 words
    • 777 26  -  FedEx maintains an innovation group that functions as a creative research team to help the company push technology boundaries, reports VICTORIA HO <the bizit interview> reportsVICTORIA reportsVICTORIA HO HOW do you stay ahead of peers in an industry that has become so finely tuned that everybody
      777 words
    • 238 26 Bloomberg [NEW YORK] Rambus Inc, a memory-chip designer that gets most of its revenue from royalties, rose as much as 10 per cent after reaching a patent agreement with Nvidia Corp, ending a legal battle over graphics technology. Financial details weren’t disclosed. The accord
      Bloomberg  -  238 words
  • Page 26 Advertisements
    • 35 26 FEELING m Jumbo size your office document storage space with JUMBO LOCKER 24-hour Access Self-Storage Log on to www.jumbolocker.com or call 6255 5388 for smarter solutions to store your business documents, confidential records and more.
      35 words
  • Page 26 Miscellaneous

  • Page 27 Advertisements
    • 70 27 SUITES NEWTON Freehold District 11 Early Bird Discount Walking distance to Novena Newton MRT 1 2 bedrm from 484 to 603 sqft Foreigners eligible Jolena Tan 1 9389 8889 Real 2S Estate Group CEA No. R*****4C ISIS. ISis IS Think property, think Savills. Selling or Leasing? The Singapore market is
      70 words
    • 35 27 BEATING lEiiOft mm Jumbo size your family storage space with rolls •UMBO LOCKER 24-hour Access Self-Storage Log on to www.jumbolocker.com or call 6255 5388 for smarter solutions to store your souvenirs, keepsakes, collectibles and more.
      35 words
  • PROPERTY
    • 682 27 Reuters [BANGKOK] Thailand’s top department store operator, Central Pattana Pcl, plans to expand in Myanmar, Indonesia, and Malaysia, hoping to tap a growing middle class. The company’s chief financial officer, Naris Cheyklin, told Reuters in an interview yesterday the company was looking closely at Myanmar,
      Reuters  -  682 words
    • 301 27 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 27 WITH CONTRACT DATES BETWEEN JAN 11 AND JAN 17, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED One Shenton Apt 16/01/2012 99 1163 2000 1720 District 5 NON-LANDED Hundred Trees
      301 words
    • 1262 27 Companies hiring and expanding amid high crude prices, exploration boom NYT [HOUSTON] In most cities, companies are holding tight, mothballing office expansions and delaying new hires. But not in Houston. Powered by a rise in oil prices and a shale exploration
      NYT; BLOOMBERG  -  1,262 words
    • 418 28  -  Phase two of the industrial property will be launched end-February By MINDY TAN IN an indication of growing interest in industrial property, developer OKH Holdings said it sold more than 85 per cent of the units released during the phase one
      418 words
    • 255 28 Bloomberg [LOS ANGELES] Trump Organization, headed by Donald Trump, the developer and reality-television star, plans to spend almost US$200 million on its first hotel in Washington. The US General Services Administration selected the New York-based company to redevelop the historic Old Post Office
      Bloomberg; BLOOMBERG  -  255 words
    • 516 30  -  Property bosses give their take at the S’pore Property Analytics Conference By MICHELLE TAN EVERYONE was all ears when the top guns of the real estate arena were asked at the inaugural Singapore Property Analytics Conference 2012 (Sing Pac): Would you buy
      516 words
    • 350 30 AFP [SHANGHAI] Office rents in Beijing are more expensive than New York after rising 75 per cent last year as Chin a growth sparked strong des ra p i d econom i c growth sparked strong demand, an international real estate company said.
      AFP  -  350 words

  • Page 28 Advertisements
    • 455 28 A part single-storey and part 2-storey detached house Regular-shape plot of land Site Area approx. 34,630 sq ft Total Floor Area (Main Building) approx 7,577 sq ft Quiet and exclusive enclave, surrounded by lush greenery Tenure: Freehold Within “Holland Rise” Good Class Bungalow Area Michelle Cheng (R*****2D) 6393 2522 9792
      455 words
    • 240 28 Site at Seletar Garden for Condo with 1st Level Shops Land 73,098 sf potential SL19,200 sf (est); FH GPR 1.4; Residential with 1ststorey Commercial Close to expressways CTE, SLE, TPE Near upcoming Seletar Aerospace Hub Potential for 95 x1,000 sf apt excluding shops Tender Closing on 7 Mar 2012 (Wed),
      240 words
    • 189 28 QUILLION RFAI, FSTATF < INVESTMENT Yoor compass to global property Investment Creating wealth Through building a Structured Property Investment Portfolio Through A Strategic Approach Shanghai London Jakarta Kuala Lumpur Singapore IVe identify opportunities, build portfolios and help our clients maximize their worldwide assets under minimal risks. Hotline: *****321 www.quillionrealestate.com International
      189 words
    • 176 28 MONGOLIA New Asian Tiger Asia's Top Stock Exchange t Huge Mining Resources (Over 80 Minerals, > 6,000 Mineral Deposits) Asia Property Market Slows! Divert Project Funds Invest In Ulaanbataar Land (Fewer Prime Sites Left) ROI 30%-60%! Do Not Miss! Enquiry: 9637 2581 jhlauw@yahoo.com Growing Nation Gp of Mongolia LLC Australian
      176 words

  • 3D PERSPECTIVE
    • 1181 29  -  KOP Properties pays close attention to all aspects of its luxury developments to ensure they are up to the mark, reportsUMA SHANKARI reportsUMA reportsUMA SHANKARI KOP Properties looks to provide an extra “something special and iconic” when it designs and builds high-end residential projects under
      1,181 words
  • Page 29 Advertisements
    • 168 29 A virtuoso of technical perfection Experience the harmony of first-class technology and elegant design. The Metz Primus sets a new benchmark in home cinema entertainment: a double-sided anti-reflective contrast glass filter panel and an expertly crafted composition of wood and metal combine to deliver the highest aesthetic standards with outstanding
      168 words

  • Page 30 Advertisements
    • 121 30 Investment .Trends Sept 2011 Singapore Contracts for Difference Report Trade world indices and commodities in SGD and avoid currency exposure. *****529 EURO EWffl R 4 4 0 3 9 429. -I o, FI F ISKJ UHIS m m SGD-denominated contracts available on major indices and commodities. Eliminate your currency exposure
      121 words
    • 60 30 NO MORE RooM? Jumbo size your furniture storage space with JUMBO LOCKER 24-hour Access Self-Storage Log on to www.jumbolocker.com or call 6255 5388 for smarter solutions while you relocate, renovate or rent out your home. UTfind the ones THAT FIT! Recruit the right people through CATS Recruit. Call 1800 289
      60 words