The Business Times, 10 December 2012

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Microfilm: NL32338
Total Pages: 29
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Monday, December 10, 2012
    25 words
  • Article, Illustration
    Lock icon Sombre bonus outlook for bank staff
    870 1  -  Senior managers not likely to get any pay rise, say consultants By SIOW LI SEN [SINGAPORE] Bank staffers here should be happy if their 2012 bonus turns out similar to last year’s, while salary adjustments, if any, are unlikely to outpace this year’s 4
    BT FILE PHOTO  -  870 words
  • MARKETS DIGEST
    • Article
      Lock icon MARKETS
      57 1 Weekly Change ST INDEX 3,107.11 +37.16 KL COMP 1,617.77 +6.94 NIKKEI 225 9,527.39 +81.38 HANG SENG 22,191.17 +160.78 SET INDEX 1,334.95 +10.91 JAKARTA COMP 4,290.80 +14.66 MANILA COMP 5,794.20 +153.75 SEOUL COMP 1,957.45 +24.6 SHENZHEN B 621.71 +13.63 MUMBAI IND 19,424.10 +84.20 DOW 13,155.13 +129.55 NASDAQ 2,978.04 -32.20 S&P
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    • Article
      Lock icon PRIME RATES
      17 1 SINGAPORE MALAYSIA HONG KONG 5.38 6.55 5.00 INDONESIA 14.333 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
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    • Article
      Lock icon FOREX
      49 1 US$ S$ US$ (S$ per US$) 1.221 (US$/S$ per 1.604 1.959 EURO (US$/S$/E) 1.294 1.580 Foreign currency per US$ S$ YEN 82.40 67.50 RM 3.053 2.500 HK$ 7.750 6.348 BAHT 30.68 25.13 RUPIAH 9,625 7,884 RENMINBI 6.230 5.103 INDIAN RUPEE 54.35 44.52 A$ 0.954 0.782 NZ$ 1.202 0.984
      49 words
  • Article, Illustration
    Lock icon New refinery sees gold rush from S-E Asia
    686 1  -  S’pore plant to use mostly recycled gold for a start By ANDREA SOH [SINGAPORE] More gold will flow into Singapore next year following the establishment of a new gold refinery here. Gold scrap that had been shipped from Southeast Asia to other
    686 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Credit Suisse firm on SE Asia commitment
      782 2  -  Asia-Pac head points to big jump in revenue from cross-referrals By CAI HAOXIANG [SINGAPORE] Credit Suisse remains committed to Southeast Asia and Singapore even as it undergoes a major restructuring, the Swiss bank’s newly appointed heads for the Asia-Pacif-ic region told BT recently.
      782 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      329 2 New refinery spells a gold rush MORE gold that is, scrap gold will flow into Singapore next year following the establishment of a new gold refinery here by Metalor Technologies. It is slated to start up by the second half of 2013. TOP STORIES, PAGE 1 Sombre bonus
      329 words
    • Article
      Lock icon Cerebos sponsors Tokyo’s Suntory Hall for ChildAid Asia
      490 2  -  Third concert in Japan to be held in 2014 Reports by TEO SI JIA [SINGAPORE] Even as the curtains fell on ChildAid 2012 last Saturday, plans are already underway for its Japanese equivalent’s third concert in 2014, with staunch supporter Cerebos Pacific
      490 words
    • Article, Illustration
      Lock icon Will Bernanke come bearing gifts this week?
      843 2  -  Opinion is divided; fresh Fed stimulus will keep rally going WALL STREET INSIGHT By ROB CURRAN US stocks rose last week as surprisingly strong economic data pushed predictably weak budget progress out of the headlines. This week, the Federal Reserve will take centrestage,
      843 words
    • Article, Illustration
      Lock icon ChildAid 2012 hits all the high notes
      609 2 [SINGAPORE] An orchestra would have looked out of place at a rock concert, but the 70 volunteer instrumentalists of Orchestra of the Music Makers (OMM) easily held their own in The Electric Edition of charity concert ChildAid 2012. They were part of a
      PHOTO: ARTHUR LEE  -  609 words
    • Article, Illustration
      Lock icon Difficult journey for China’s transition
      1355 4  -  So says The Conference Board, as it warns of a long, difficult and painful transition to a consumption-driven Chinese economy By ANNA TEO [SINGAPORE] Others may be exuberant as ever about China, but one global business think-tank has advised its members to temper expectations, and
      PHOTO: AFP  -  1,355 words
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      93 2 ALMATY Beijing Seoul Bangkokt Kuala Lumpur* Hong Kong Ho Chi Minh Beijing Almaty 5 times a week Kuala Lumpur Almaty -‘Jk 3 times a week Bangkok Almaty 7 times a week Seoul Almaty 2 times a week Ho Chi Minh Almaty 2 times a week Hong Kong Almaty 2 times
      93 words
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      127 3 -g?' > 4 V»Agg? PAN ERAI.COM V 'ir-.XS---ii’.- >' ii/T V-s, S'-* X- ‘T -T V.:" rh Vlff (i W y 'X: r- i >1 B V S* V/ HI O X ss j aa* Ph 22&% A/^ v V" < y*csz&z V Si v.. v„ *Vx v„ 1& 'C
      127 words
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      75 4 NamCheong www.namcheong.com.my rr IV i uinA TUiH 30° armada ii r l. NC800 ■ti To Nam Cheong Limited on The Official Launch of NC800 Malaysia's First Diesel Electric Multi-purpose Platform Support Vessel Our first Diesel Electric Multi-purpose Platform Support Vessel featuring a highly efficient, refined hull form that creates low
      75 words
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      166 5 Audi Vorsprung durch Technik An icon of progress, a Landmark of ingenuity. Progress is not just about being bigger. It's also about ingenuity. Gardens by the Bay is a horticultural haven of the future. 101 hectares, 250,000 plant species and proof that innovation can be spectacular and responsible. The Audi
      166 words
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  • COMPANY NEWS
    • Article
      Lock icon MDR’s Myanmar move an added plus
      871 6  -  HOCK LOCK SIEW By VEN SREENIVASAN IS MDR finally getting the attention it deserves? The stock of the mobile phone company has been active after it recently announced a joint venture to enter the mobile phone market in Myanmar. Under a deal inked with
      871 words
    • Article
      Lock icon FDS bets on $165m reverse takeover to get off watch list
      317 6  -  By JOYCE HOOI FDS Networks Group Ltd is buying Delta Advanced Materials Limited for $165 million as part of a reverse takeover move and an attempt to get itself off the Singapore Exchange’s watch list. “To support its application
      317 words
    • Article
      Lock icon PRIME LENDING RATES
      291 6 Dec 7 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited 5.50 Bank of Communications 5.50 Bangkok Bank Public Co. Ltd.... ...6.00 Bank of Tokyo-Mitsubishi Bank of Communications Banque Internationale a ...5.75 Chang Hwa Commercial Bank
      291 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      825 6 Payment Ex Books Pay Ann (cts) date close date date AIMS AMP Cap Ind REIT cn 2.500 02-Nov 06-Nov 20-Dec 24-Oct Ascendas Hosp Trust aq 1.001 12-Nov 15-Nov 21-Dec 07-Nov Ascendas Hosp Trust ad 0.260 12-Nov 15-Nov 21-Dec 07-Nov Asia Pacific Breweries ak 85.000 22-Jan 24-Jan 06-Feb 16-Nov
      825 words
    • Article, Illustration
      Lock icon A day for children of DBS employees
      131 6 DBS Group’s employees got a chance to show their children what they do at work last Friday. Some 250 children, aged three to 12, visited the bank’s flagship branch at Marina Bay Financial Centre and took part in workshops to learn more about
      131 words
    • Article
      Lock icon COMPANY MEETINGS
      239 6 COMPANY MEETING PLACE DATE TIME Gul Tech E NTUC Centre No 1 Marina Boulevard Rm 701 Level 7 One Marina 10-Dec 11.00am China Great Land E Seletar Country Club Theatrette Room 101 Seletar Club Road 11-Dec 2.00pm China Mining Int'l E Furama River Front Jupiter II Level 3
      239 words
    • Article
      Lock icon Selling eases with buying flat
      1809 7  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd THE buying was flat while the selling among directors remained low in the first week of December showed. A total of 16 companies recorded 27 purchases worth $26.1 million versus 3 firms
      1,809 words
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      634 6 KORI HOLDINGS LIMITED (Company Registration No.: *****2407R) (Incorporated in the Republic of Singapore on 18 May 2012) Placement of 28,200,000 Placement Shares comprising 25,600,000 New Shares and 2,600,000 Vendor Shares at S$0.25 for each Placement Share, payable in full on application The Board of Directors of Kori Holdings Limited (the
      634 words
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      24 6 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. iQ0 MATS NOTICES
      24 words
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      130 7 V 4 i\ i tf i i %/M W m w Jfc v Co0 2 Li x C 8 <=> C Li,. x Co0 2 Li x C 6 <= C r LiCoCK Advanced light weight plastics, Another way we’re helping to improve fuel efficiency, Reducing the weight of vehicles
      130 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Can the STI’s outperformance continue?
      633 8  -  STOCKS R SIVANITHY Senior Correspondent FOR the year to date, the Straits Times Index has gained 17 per cent in local currency terms or about 24 per cent in US dollars. These are very respectable figures by any measure, especially considering that the government has
      633 words
    • Article
      Lock icon Prices mixed amid economic gloom
      549 8 COMMODITIES AFP [LONDON] Commodity markets enjoyed mixed fortunes last week as traders balanced gloomy eurozone economic news, alongside contrasting jobs data and “fiscal cliff” fears in the United States. Many markets fell heavily along with the euro on Thursday after the European Central Bank forecast
      AFP  -  549 words
    • Article
      Lock icon Euro falls for first time in 4 weeks
      617 8 CURRENCIES Bloomberg [NEW YORK] The euro fell against the dollar and yen for the first time in four weeks after the European Central Bank lowered its economic forecast for the region and policy makers discussed trimming benchmark interest rates. The 17-nation currency
      Bloomberg  -  617 words
    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1499 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 9.25 15.35 1.62 1.42 Amtek Engineering Ltd 3.00 2.67 5 0.06 7.32 0.60 0.51 ARA Asset Management 1.43 1.43
      1,499 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 WEEKLY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      72 8 Dec 7 VALUE CLOSE BT OB/OS 297.00 +39.00 BT CADI -*****.00 +97.00 BT 10-day MA -*****.00 +30.00 FTSE ST Mid Cap 755.09 +6.76 FTSE ST Small Cap 498.18 +2.14 FTSE ST All Share 759.85 +6.84 FTSE ST China Top 203.35 +2.32 FTSE ST China 227.90 +3.51 FTSE
      72 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      56 8 VOLUME YHM 1,773,228,000 MDR 504,799,000 Golden Agri 326,774,000 Geo Energy 320,080,000 Olam 246,073,000 CPH 239,903,000 ChinaTitan 220,435,000 MDR W*****5 220,086,000 GSH Corp 201,469,000 Transcu Grp 190,371,000 VALUE($) SingTel 474,567,894 Olam 381,175,573 UOB 239,698,317 DBS Grp 237,093,466 Golden Agri 212,734,495 Keppel Corp 202,336,179 SembMar 200,998,625 Noble Grp 197,449,855
      56 words
    • Article
      Lock icon RISES
      109 8 BY CENTS CLOSE UP SPDRS S&P 500 10US$ ***** 368.7 2.2 DBXT Nifty 10US$ ***** 252.7 1.9 DBXT MSTaiwan 10US$ 1840 166.0 8.0 JSH 3529 155.0 3.7 DBXT FTChina25 10US$ 2915 117.2 3.4 DBXT AUD Bonds 5AU$ ***** 104.9 0.4 UOB 1973 101.0 5.4 CMProp 1950 94.5 44.4 DBXT
      109 words
    • Article
      Lock icon FALLS
      126 8 BY CENTS CLOSE DOWN GLD 10US$ ***** -322.3 -1.6 OCBC Bk 4.5%NCPS 100 ***** -258.0 -2.5 OCBC Bk 5.1%NCPS 100 ***** -232.0 -2.2 YHS 301 -91.0 -23.2 Jardine C&C 4828 -51.0 -1.0 STXPO 100 355 -36.0 -9.2 IS ASIA HYG100US$ 1105 -33.0 -2.4 IS ASIA HYG100S$D 1343 -29.0 -2.1
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 WEEKLY
      5 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Announcing potential takeover transaction by a company
      662 9 ASK QUESTION: I work in a listed company. The controlling shareholder of my company and a potential buyer are currently in discussions for a possible takeover of my company with a view to its de-listing and privatisation. The parties expect to agree on
      662 words
    • Article, Illustration
      Lock icon Higher wages will impact costs: DPM Teo
      402 9 DEPUTY Prime Minister Teo Chee Hean has pointed out the trade-offs inherent in the labour situation where essential services are concerned. “There will always be a need for more than we may be able to provide ourselves. But as we raise the wages
      PHOTO: FILE  -  402 words
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      259 9 Have a pressing question about a corporate law-related issue that your company is facing? Lawyers from Stamford Law will provide their expert advice and answers to your queries on a weekly basis. All you need to do is send us an e-mail with your query at btnews@sph.com.sg and include particulars
      259 words
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • Article, Illustration
      Lock icon Steering clear of investment fraud
      1172 10  -  On the anniversary of Bernard Madoff’s massive fraud, it is timely for an investor to reflect on what he can do to protect himself By PAUL SULLIVAN NYT THIS is the time of year when most people think of gifts and holiday gatherings. I could
      NYT; PHOTOS: REUTERS, BLOOMBERG  -  1,172 words
    • Article, Illustration
      Lock icon Reaching out with a gloved hand
      1277 10  -  Charmain Tan from sunny Singapore came up with an eco-friendly glove that can operate a touch-screen phone in the cold. TEH SHI NING reports STARTING YOUNG TEH SHI NINGreports NINGreports DESIGNING and selling winter gloves out of tropical Singapore is counterintuitive to say the
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      156 10 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
      156 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon Indonesia palm oil exports may fall to 5-mth low
      505 11 Survey shows that global economic slowdown would curb demand Bloomberg [JAKARTA] Palm oil exports from Indonesia, the world’s largest producer, will probably drop to the lowest level in five months in December as a global economic slowdown curbs demand, according to
      Bloomberg; PHOTO: REUTERS  -  505 words
    • Article
      Lock icon Foreigners turn net sellers of M’sian equities in Nov
      318 11 [KUALA LUMPUR] After four consecutive months of “net buying” of RM7 billion (S$2.8 billion) of equities, foreign investors became net sellers in November. According to CIMB Investment Bank, they let go US$300 million (RM916.6 million) in November, the Business Times in
      318 words
    • Article
      Lock icon BURSA MALAYSIA
      1602 11 VOL Dec 7 RM +/-(‘000) VOL Advance Synerg 0.15 unch 337 Adventa Bhd 1.90 -0.01 104 Ae Multi Hldgs 0.21 unch 0 Affin Holdings 3.35 -0.01 125 Ahmad Zaki Res 0.67 -0.01 20 Airasia Bhd 2.76 -0.04 6248 Alliance Finan 4.14 0.01 750 Aluminium Co 0.70 unch 2
      1,602 words
    • Article
      Lock icon 2012 a difficult year for M’sia exports: minister
      583 11 October data hit by eurozone crisis, slower India and China growth: KL [KUALA LUMPUR] Malaysian exports are likely to grow below 4 per cent this year, said Minister for International Trade and Industry Mustapa Mohamed. He described 2012 as a difficult year
      583 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      109 11 m e MOSER PERPETUAL 1, ref. 341.501-004.18k rose gold. Hand-wound movement cal. HMC 341.501. 10 days power reserve. Back and forth date adjustment. Instantaneous date change from 28 th Feb to 1 st Mar. Winner of the prestigious Grand Prix d'Horlogerie de Geneve 2006 category "Montre Compliquee" a THE HOUR
      109 words
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      76 11 SURE* 'ts'ssr SENTOSA COVE 8000 sqft. Full seaview Bay view. Design by renewed Interior Designer MARINA BAY ***** sqft. One only! Full seaview Bay view. Best of the world #60 up SENTOSA VICINITY ***** sqft. Best of best, fantastic layout. Full seaview, 270° unblocked. Facing golf club, Sentosa Island ORCHARD
      76 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon China economy back on track, Nov data shows
      764 12  -  Factory growth output hits 8-month high; retail sales jump 14.9% By VIRGINIE MANGIN in Beijing CHINA’S November data published yesterday confirmed that a hard landing of the world’s second-larg-est economy has been definitely averted. All indicators point to a recovery with inflation
      PHOTO: REUTERS  -  764 words
    • Article
      Lock icon China firm wins auction for US battery maker
      763 12 Wanxiang’s bid for A123 is likely to be closely scrutinised [WILMINGTON, Delaware] China’s largest maker of auto parts won a politically sensitive auction for A123 Systems, a bankrupt maker of batteries for electric cars that was funded partly with US government money,
      763 words
    • Article, Illustration
      Lock icon Current mess seen as a chance to clean up India’s sports system
      642 12 AFP [NEW DELHI] The administration of Olympic sports in India could face a major overhaul after world bodies and the government cracked down on the power games played by self-seek-ing politicians. In a week of dramatic developments, India
      AFP; PHOTO: AP  -  642 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Bernanke’s ‘cliff’ analogy misses economic reality
      967 13 ‘Fiscal slope’ is a better way to describe what could happen: economist Bloomberg [WASHINGTON] While the US Congress views the convergence of more than US$600 billion in tax increases and spending cuts set for Jan 1 as a “fiscal cliff”, the metaphor misses the
      Bloomberg; PHOTO: REUTERS  -  967 words
    • Article
      Lock icon Workers in developed nations see wages fall
      421 13 Labour markets seen affected by the global crisis AFP [GENEVA] A sluggish global economy hit world wage growth hard last year, taking an especially harsh toll on workers in developed countries, who saw their salaries shrink, the International Labour Organization said “The global
      AFP  -  421 words
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      23 13 Make contacts you can’t meEt anywhere else ON THE PLANET THERE’S NOTHING LIKE AUSTRALIA FOR YOUR NEXT BUSINESS EVENT. PLAN NOW, VISIT BUSINESSEVENTS.AUSTRALIA.COM
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      1629 14 These reputable dealers have made the right choice to work with ST Singapore's trusted motoring portal. Or MOTORWAY PRE-OWNED epublic I Pte Ltd J99-, PRE-LOVED, AFFORDABLE. LUXURY Think One Automobile Trading Pte Ltd Honda Airwave 1.5A Posted on 05 December 2012 by Think One Automobile Trading Pte Ltd $42,800 Ferrari
      1,629 words
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  • WORLD
    • Article, Illustration
      Lock icon Japan tragedy puts spotlight on ageing infrastructure
      675 15 AFP [TOKYO] A deadly tunnel collapse in Japan should serve as a wake-up call to developed nations whose ageing infrastructure is in dire need of updating, experts say. Trillions of dollars need to be spent across the globe just to stand still, they
      AFP; PHOTO: AFP  -  675 words
    • Article
      Lock icon Europe’s electricity market now ‘uninvestable’: industry chief
      542 15 Lack of firm rules, weak carbon market make it unattractive Reuters [DOHA] Lack of binding EU policy beyond 2020 and a battered carbon market has made European electricity unworthy of investment, the head of the industry body that represents the sector in Europe
      Reuters  -  542 words
    • Article
      Lock icon Greek bond buyback meets target: reports
      407 15 AFP [ATHENS] A Greek operation to buy back some of the country’s huge debt at reduced prices to access additional EU-IMF financial aid has met the 30 billion euro (S$47.35) target set by the authorities, news reports said on Saturday. Financial daily Naftemboriki said
      AFP  -  407 words
    • Article
      Lock icon Monti to resign once budget is approved
      597 15 Italy PM’s surprise move potentially brings forward poll due early next year Reuters [ROME] Italian Prime Minister Mario Monti announced late on Saturday that he would resign once the 2013 budget is approved, potentially bringing forward an election due early next year and
      Reuters  -  597 words
    • Article
      Lock icon Opec meets to decide oil output targets
      535 18 AFP [LONDON] Opec gathers in Vienna this week for a ministerial meeting to decide on the cartel’s oil production ceiling, as a predicted drop in demand risks weighing on high crude prices despite Middle East unrest. The Organization of Petroleum Exporting Countries, which
      AFP  -  535 words
    • Article, Illustration
      Lock icon DRIVEN BY ART
      36 18 [BEIJING] Women sewing an art work based on a sports car model by Danish artist Erik A Frandsen at the Red Brick Art Museum on the outskirts of Beijing. PHOTO: REUTERS PHOTO: REUTERS
      PHOTO: REUTERS  -  36 words
    • Article, Illustration
      Lock icon Canada okays CNOOC, Petronas bids for Nexen, Progress Energy
      1492 18 CNOOC hails Canada ‘welcome’ of its investment; Petronas declines comment Bloomberg [OTTAWA] Canadian Prime Minister Stephen Harper approved China National Offshore Oil Corporation Ltd’s (CNOOC) US$15.1 billion takeover of Nexen Inc and Petroliam Nasional Bhd’s (Petronas) C$5.2 billion (S$6.42 billion) takeover
      Bloomberg  -  1,492 words
    • Article, Illustration
      Lock icon JPMorgan asks staff to help fund UK tax settlement
      403 18 Bloomberg [NEW YORK]JPMorgan Chase Co asked more than 2,000 current and former employees to contribute to a settlement with the UK’s tax authority over their use of an offshore trust for bonus payments, according to a person briefed on the situation.
      Bloomberg; PHOTO: AFP  -  403 words
    • Article
      Lock icon Proposal on cyberspace adds to fears
      815 19 Russia-led plan would wrest control of Web addresses from US body Reuters [DUBAI] A Russia-led proposal calling for sweeping new governmental powers to regulate cyberspace added to fears in some Western countries of a stalemate midway through a 12-day conference in Dubai to rewrite
      Reuters  -  815 words
    • Article, Illustration
      Lock icon The City fights back to retain its status
      838 19 AFP [LONDON] The City of London, already campaigning hard against EU proposals for regulating banks, is now hitting back at a threat to its dominance of the vast market for trading in euros. The latest perceived attack on the supremacy of the
      AFP  -  838 words
    • Article
      Lock icon Polish cities curtail street lighting to save power
      613 19 Bloomberg [WARSAW] Warsaw’s debt burden prompted the city to switch off 120,000 streetlamps an extra hour a day as local authorities prepare for a government-imposed cap. The Polish capital may buy back part of its 200 million euro (S$315 million) Eurobond before
      Bloomberg  -  613 words
    • Article
      Lock icon Drive to set up compensation scheme for climate change
      613 20 Reuters [DOHA] Developing nations will push next year for a radical United Nations mechanism to compensate them for the impact of climate change, such as droughts or rising sea levels, despite reluctance among wealthy states which would have to foot the
      Reuters  -  613 words
    • Article, Illustration
      Lock icon New smaller parties make Japan’s election scene murkier
      741 20  -  Presence of multiple power groups will make winner’s task difficult: analysts By ANTHONY ROWLEY in Tokyo JAPAN has become used to a situation of political gridlock in recent times with the two houses of parliament controlled by different parties with usually conflicting
      PHOTO: AP  -  741 words
    • Article, Illustration
      Lock icon Recent picks tarnish Nobel Peace Prize’s reputation
      695 20 AFP [OSLO] Often described as the most prestigious award in the world, the Nobel Peace Prize risks losing some of its lustre because of the prize committee’s unexpected and controversial choices of late, some observers warn. The European Union (EU), which will pick
      AFP; PHOTO: AFP  -  695 words
    • Article
      Lock icon Japan suspends beef imports from Brazil
      372 20 Bloomberg [TOKYO] Japan, Asia’s largest beef buyer, suspended imports of the meat from Brazil after a cow in Parana state tested positive for mad-cow disease. “We suspended imports from Brazil as soon as an outbreak of BSE was confirmed,” the Ministry of Agriculture, Forestry
      Bloomberg  -  372 words
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      154 15 UCLA NUS National University of Singapore UCLA NUS EXECUTIVE MBA TOP 5 EMBA GLOBALLY FINANCIAL TIMES EMBA RANKING 2012 busy business leaders travel extensively yet are able to achieve Two World-Class MBAs in 15 Months. f L AJh ONE-OF-A-KIND FORMAT GLOBAL LEARNING TWO WORLD-CLASS MBAs 6 sessions 2 weeks each
      154 words
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      732 18 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 KNOCK TAGGART II PTE. LTD. (COMPANY REGISTRATION NO. *****2100K) MEMBERS’VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company which was deemed to have been held on 30 November 2012, the following resolutions were passed pursuant to Section 179(6)
      732 words
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      599 19 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices ASIA PACIFIC BREWERIES LIMITED Company Registration No. *****0007K (Incorporated in the Republic of Singapore) LOST SHARE CERTIFICATE Notice is hereby given that one share certificate numbered *****6 covering 2,562 ordinary shares in the name of Tan Kim Song Tan Keng Seng has
      599 words
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      424 19 SWISSCO HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****4711D) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Swissco Holdings Limited (the “Company”) will be held at Republic of Singapore Yacht Club, 52 West Coast Ferry Road, Singapore *****7 on
      424 words
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      517 19 AVIC INTERNATIONAL INVESTMENTS LIMITED (Incorporated in the Republic of Singapore) (Company registration no. *****4137N) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of AVIC INTERNATIONAL INVESTMENTS LIMITED (the “Company”) will be held at 3 p.m. on Wednesday, 26 December 2012 at Novotel Singapore Clarke
      517 words
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      1372 21 The Business Times Free trial now on iPad BT All-in-One coming soon. EXECUTIVE LIFESTYLE Fashio^ailconve^ PAGE 34 rm Iv PROPERTY Exec condo site a Pasir Ris keenlj contested pages olam Shares up sL opening bell) end lower pag 2 aviation AirAsiamayaddon^ vo ma 01 n® PAGE 24 SS1.00 .DINGS PUBLICATION
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  • SHIPPING/AVIATION
    • Article, Illustration
      Lock icon EU measures worry Baltic Exchange
      810 22 It says its system of self-regulation works well; changes might hit business Reuters [LONDON] European plans to tighten financial market regulation are raising commercial worries for London’s Baltic Exchange, which has shaped global shipping business for centuries but now faces potential challenges from new rivals.
      Reuters; PHOTO: BLOOMBERG  -  810 words
    • Article
      Lock icon Boost to US Air’s AMR merger bid
      890 22 Bloomberg [DALLAS] American Airlines pilots approved their first new contract since 2003, securing the labour savings sought by parent AMR Corp and giving a possible boost to US Airways Group Inc’s push for a merger. The accord was approved by 74 per cent
      Bloomberg  -  890 words
    • Article
      Lock icon Chinese group in talks to buy AIG unit
      381 22 Reuters [HONG KONG] A group of Chinese companies, including the Industrial and Commercial Bank of China (ICBC), is in talks to buy American International Group Inc’s (AIG) aircraft leasing unit for about US$5.5 billion, a source familiar with the matter said on
      Reuters  -  381 words
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      Lock icon Airbus orders surge in Nov but lag Boeing
      458 22 Reuters [PARIS] Airbus confirmed on Friday it had sold 186 aircraft in November, putting it on the verge of meeting its goal for the full year but failing to close a gap with rival Boeing. Between January and November, Airbus sold 646
      Reuters; REUTERS FILE PHOTO  -  458 words
    • Article
      Lock icon The Business Times Shipping Times
      3463 27 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 n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination
      3,463 words
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  • Page 22 Miscellaneous
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      Lock icon Page 22 Miscellaneous Column 1
      338 22 CRYPTIC CROSSWORD Across 1 Show clears up act for broadcasting (11) 9 Dance leader with a star flaring up (5,4) 10 Feature origin of African country (5) 11 Sailor leaves idler to spend (3,3) 12 Not working with film derivative (8) 13 Changed course due to careful handling, say (6)
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  • DINING OUT
    • Article, Illustration
      Lock icon Set to win new fans
      774 23  -  By Debbie Yong NEW CHEF Au Petit Salut 40C Harding Road Tel: 6475 1976 NOT many chefs would want to be Paul Longworth. For the young Briton has taken on a thorny challenge he’s the new executive chef at the Au Petit Salut group’s flagship
      774 words
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      93 23 KISS92 FM Oifck a iS klS592 CATCH THE NISSAN KISS 92 KISS MOBILE TUNE IN TO KISS 92 TO FIND OUT WHERE WE’LL BE! 24 AND 25 DECEMBER 2012 V r Wah. W A Experience the new Wah Lok. Applauded as one of Singapore’s finest Cantonese restaurants since 1988, and
      93 words
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      18 23 The Finder Singapore The Essential Expat Magazine FREE DOWNLOAD Available On The App Store DECEMBER ISSUE OUT NOW!
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2943 24 Week ended: Dec 7 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 Last Vol Week Last Quote Div GrYld 149.5 92.5 AIMSAMPIReit 142 -0.5 1415 143.5 141 141.5 142 5.9 13.6 636.6 M
      2,943 words
    • Article
      Lock icon SGX CATALIST
      289 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 $mil Last 4.6 1.3 t Advanced System 1.5 unch ***** 1.6 1.3 1.4 1.5 22.3 Vol Week Last Quote Div Gr Yld Net M Cap
      289 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      114 25 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.955 CapitaLand 3.690 +0.120 CapitaMall 2.100 +0.050 CityDev 12.000 +0.100 ComfortDelGro 1.750 +0.010 DBS Grp 14.790 +0.180 F&N 9.450 +0.060 GLP 2.750 Genting SP 1.245 +0.005 Golden Agri 0.650 HK Land 6.760 +0.160
      114 words
    • Article
      Lock icon STOCKS ASIA
      2213 25 Transaction date: Dec 7 HONG KONG Vol HK$ +/-'000 Aeon Stores 19.50 unch 6 Angang Steel 5.42 0.25 ***** Anhui Conch 28.15 0.75 ***** Anhuiexpresswa 4.06 0.13 2794 Asia Satellite 24.50 unch 101 Asm Pacific 91.00 -1.15 300 Bank Of E Asia 29.95 -0.25 2052 Beida Jade Bir
      2,213 words
    • Article
      Lock icon GLOBALQUOTE
      216 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 $mil 43.5 25.5 AVJennings A37 +9.5 311 43.5 30.5 36 37 3.6 9.5 3 96.3 41.5 26 Genting HK US$ US31.5 -0.5 ***** 32 31.5 31.5 32 2074.1
      216 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 5 0 0 0 0 12 5 0 Manufacturing 90 75 35 11 15 7 101 90 42 Commerce 39 23 16 3 9 3 42 32 19 Tpt/Stor/Comms 27 17 1
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    • Article
      Lock icon SGX ETF
      975 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 $mil 126 114.4 ABF SG Bond ETF 117.5 -0.5 108 125 117.5 118.1 120 536.4 128.9 120.4 CIMB APAC Div 100S$D 125 128 128.9 105.5 95.8 CIMB
      975 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 112,695 112,695 419,985 419,985 Manufacturing 1,430,277 772,894 2,203,171 1,079,448 9,547 1,088,995 Commerce 1,103,582 212,473 1,316,055 881,581 8,510 890,091 Tpt/Stor/Comms 521,108 100,973 622,081 913,926 31,174 945,100 Finance 164,549 2,893 167,442 714,853 1,164 716,017 Construction 383,737 1,780,409
      123 words
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      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
      26 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      638 26 Dec 7 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9547.14 9572.75 9522.13 Dec12 9550.00 9580.00 9505.00 9560.00 ***** *****8 Mar13 9540.00 9560.00 9500.00 9550.00 2989 ***** MSCI TAIWAN INDEX FUTURES SPOT 275.82 277.44 275.74 Dec12 276.10 278.20 275.80 277.50 ***** *****1 Jan13 276.70
      638 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr Dec 7 Index Change Change Change Change Change Change World Preliminary 925.1 0.1 11.5 0.1 5.0 0.0 11.6 EAFE Preliminary 758.4 0.2 11.2 -0.1 4.5 -0.1 11.0 Europe Preliminary 1144.1 0.1 11.5
      373 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      103 26 As on 07 December 2012 www.smx.com.sg PRODUCT PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1706.30 1685.80 1705.60 INDIA GOLD (E-GOLD) FUT FEB2013 571.90 566.00 571.70 CURRENCY EUR-USD FUT DEC2012 1.2973 1.2888 1.2934 BASE METAL COPPER FUT MAR2013 8096 8042 8077 INDEX IRON ORE (MBIO)
      103 words
    • Article
      Lock icon CHICAGO BOT
      107 26 Dec 7 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 13 1472.25 1491.25 1498.25 1470.00 Mar 13 1472.00 1486.00 1493.75 1469.50 May 13 1453.25 1463.75 1471.00 1449.50 Jul 13 1441.50 1451.50 1458.00 1437.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 12 50.82
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS Dec 06 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.51 -1.83 WTI (Near Mth) 86.32 -1.58 Dubai (1-Mth F) 104.97 -1.16 Tapis blend 114.24 -1.46 Minas 107.52 -1.46 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 102.72 unch Jet Kerosene 125.93 unch US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 26 Dec 7 S$ Bid Offer 1-month 1.2207 1.2210 2-months 1.2207 1.2209 3-months 1.2206 1.2208 6-months 1.2203 1.2208 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 26 Dec 7 Dec 7 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2086.75 2089.75 3 months 2094.00 2090.00 Copper, Grade A(US$/tonne) Cash 8012.25 7978.75 3 months 8035.00 8000.00 Lead(US$/tonne) Cash 2200.75 2202.50 3 months 2215.00 2214.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3
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    • Article
      Lock icon LIFFE
      79 26 Dec 7 COCOA (£/tonne) Close Prev High/Low Dec 12 1621 1620 1630/1607 Mar 13 1546 1547 1559/1531 May 13 1551 1552 1560/1537 Jul 13 1556 1557 1565/1542 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1896 1905 1915/1875 Mar 13 1904 1911 1921/1882 May 13 1915 1923 1930/1897 Jul 13 1926
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      997 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 4 1 146 614 5.25 17 Conv Ratio Best World Intl Ltd W*****5 0.5 1 30 91 32.00 7 Price BiosensoMBeCW*****3 3.6 -0.2 570 0.4 140 6 Biosensors
      997 words
    • Article
      Lock icon INTERBANK CROSS RATES
      470 26 Dec 7 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 6.529 0.810 8.122 56.959 100.870 0.863 11.336 3.199 1.260 101.326 42.910 1.280 9.108 0.979 30.459 32.147 0.653 1.048 Canada 0.962 6.283
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    • Article
      Lock icon SIBOR
      56 26 Dec 7 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 2 mths 0.***** 0.***** 0.***** SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates (S$) 1
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    • Article
      Lock icon PRECIOUS METALS
      134 26 Dec 7 GOLD(US$/oz) Dec 06 Dec 07 Hong Kong 1703.00 1712.40 Dec 06 Dec 07 London 1700.43 1701.86 1701.29 1702.63 Source: Thomson Reuters CAST BAR Dec 07 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 150 67 5gm 426 334 10gm 760 667
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    • Article
      Lock icon GOVERNMENT SECURITIES
      87 26 Dec 7 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 07-Mar-13 0.24 0.20 0.20 6-Month BS*****T 30-May-13 0.26 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14 101.99 102.04 102.04 5-Year
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    • Article
      Lock icon PALM OIL
      57 26 Dec 7 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 12 2110.0 2115.0 2118.0 2110.0 7 2729 Jan 13 2220.0 2215.0 2250.0 2208.0 1849 ***** Feb 13 2300.0 2295.0 2342.0 2283.0 ***** ***** Mar 13 2354.0 2354.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 26 Dec 7 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2792 1.2799 1.0478 1.0482 Canadian dollar 1.2309 1.2316 1.0087 1.0083 Euro 1.5795 1.5799 1.2938 1.2939 NZ dollar 1.0155 1.0161 0.8318 0.8322 Sterling pound 1.9583 1.9590 1.6041 1.6044
      154 words
    • Article
      Lock icon INTERBANK RATES
      154 26 Dec 7 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.03 US$ Offer Bid 7 days 0.22 0.12 1 month 0.30 0.20 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.65 0.45 9 months 0.80 0.60 12
      154 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Dec 07 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.309 1.247 Can dollar 1.26 1.2 Euro 1.62 1.543 Sterling pound 1.996 1.92 NZ dollar 1.049 0.99 US dollar 1.245 1.186 Local dollars to 100 units of foreign
      121 words
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  • Page 28 Advertisements
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      117 28 TO ADVERTISE IN .The Business Times IIIL UUJIHLJJ IIIVIUJ Shipping Times CALL JOE WONG FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 y >A I' Celebrate Your Project Completion Come publicise your Project Completion, Ship Christenings Delivery of Newbuilds, Vessel Conversion Refurbishment, Award
      117 words
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  • BizIT
    • Article, Illustration
      Lock icon NXP sees Asia as its growth engine
      1057 29  -  With two-thirds of revenue coming from the region, NXP is looking at more engagement and research here, reports AMIT ROY CHOUDHURY reportsAMIT reportsAMIT ROY CHOUDHURY NXP Semiconductors, one of the top 20 semicon sales leaders worldwide, is betting on Asia for future growth.
      1,057 words
    • Article
      Lock icon Mobile opportunities for data-recovery firms
      909 29  -  By VICTORIA HO [SINGAPORE] It seems you can’t go a day without hearing about the BYOD (Bring Your Own Device) buzzword in the industry. The trend of employees bringing their own mobile devices to the workplace, and demanding access to enterprise data through them, has
      909 words
    • Article
      Lock icon Energy saving should be central in every Telco’s strategy
      891 29  -  <you say> By NAVIN VOHRA The writer is CommScope’s Asia Pacific VP for Wireless Sales AS mobile operators seek new ways to meet the ever-increas-ing need for bandwidth, they face many challenges such as the need to keep up with evolving
      891 words
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  • Page 30 Advertisements
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      Lock icon Page 30 Advertisements Column 1
      174 30 Montblanc® 4. S V' C"* K. tjr ■i w ■jPIII/ 'Hia i V SN <2 k y< ?£7 n*> 33«» •CIM \o<9 v i S a u n h* %7 ASo m h o \T S/T" e» 8 i dss o 55 <si 'S *fn (■< M*! C Cl 3
      174 words