http://business-times.asiaone.com/latest/0,4553,,00.html? The Business Times Online Edition - Singapore en-us Copyright 2010 Business Times Online. 9 Feb 2010 SGT 9 Feb 2010 SGT 60 http://business-times.asiaone.com/mnt/static/image/images/topmastheadsmall.gif http://business-times.asiaone.com http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371903,00.html? LONDON - The London Metal Exchange said on Tuesday it will open LME Asia, its first overseas office, in Singapore to serve members' needs and make the most of opportunities in the region. 09 Feb 2010 21:44 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371902,00.html? ATHENS - Greece's government on Tuesday unveiled a hike in the average retirement age and called on striking civil servants to accept bonus cuts to pull the country out of an unprecedented financial crisis. 09 Feb 2010 21:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371901,00.html? KUALA LUMPUR - Malaysia's top lender Maybank said on Tuesday its fiscal second-quarter net profit rose 35 percent from a year earlier, helped by higher loans growth and non-interest income as the economy improves. 09 Feb 2010 19:51 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371900,00.html? HG Metal Manufacturing Limited said on Tuesday that LPM Projects Pte Ltd is seeking a payment claim of about S$3.27 million. 09 Feb 2010 19:24 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371899,00.html? Goodpack Limited said its net profit for the fiscal second quarter to end December 2009 rose 19.3 per cent to US$9.75 million on the back of imporved demand and operational efficiency. 09 Feb 2010 19:17 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371898,00.html? TOKYO - Japan's transport minister on Tuesday publicly berated Toyota Motor president Akio Toyoda for the auto giant's handling of safety problems, saying it should have been quicker to recall faulty vehicles. 09 Feb 2010 19:16 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371897,00.html? Chasen Holdings Limited reported net loss for the third quarter to end December 2009 sank deeper from a year ago. 09 Feb 2010 18:54 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371896,00.html? Jurong Cement on Tuesday reported net loss for the fiscal year 2009 sank to S$5.65 million, compared to a net loss of S$729,337 a year ago. 09 Feb 2010 18:46 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371895,00.html? Time Watch Investments posted on Tuesday a 20.7 per cent raise in second-quarter net profit, lifted by higher sales. 09 Feb 2010 18:39 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371894,00.html? Asian Micro Holdings Limited said on Tuesday that is expected to report a loss for its fiscal first half ended December 31, 2009. 09 Feb 2010 18:33 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371893,00.html? CapitaMalls Asia Limited is selling Clarke Quay mall in Singapore to CapitaMall Trust for $268 million in cash. 09 Feb 2010 18:26 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371892,00.html? Moody's Investors Service says that Singapore Telecommunications Limited's third quarter results ending 31 December 2009 were generally in line with the agency's expectations and have no immediate impact on the company's Aa2 rating. 09 Feb 2010 18:23 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371891,00.html? LONDON - The London Metal Exchange said on Tuesday it will establish LME Asia, headquartered in Singapore, to help serve the needs of its members and maximise opportunities in the region. 09 Feb 2010 18:16 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371890,00.html? Jaya Holdings on Tuesday said second quarter net profits increased by 32 per cent to $35.3 million, from $26.7 million a year ago. 09 Feb 2010 17:46 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371889,00.html? Fabchem China Limited, a non-electric detonator producer in China, reported net profit for the third quarter to end December 2009 fell 14.9 per cent to RMB12.20 million (US$1.79 million). 09 Feb 2010 17:41 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371888,00.html? Vicom Limited reported net profit for the fiscal year ended December 31, 2009 rose 26.9 per cent to S$20.04 million. 09 Feb 2010 17:33 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371887,00.html? Malaysian shares closed weaker on Tuesday with the key FTSE-Bursa Malaysia Kuala Lumpur Composite Index down 1.36 points to 1,233.86. 09 Feb 2010 17:24 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371885,00.html? BANGKOK - Thailand's government has no immediate plans to reverse its stimulus programme adopted since early 2009 despite growing signs of economic recovery in the past few months, Finance Minister Korn Chatikavanij said on Tuesday. 09 Feb 2010 17:18 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371884,00.html? SINGAPORE - Singapore shares closed stronger on Tuesday with the blue-chip Straits Times Index up 51.40 points to 2,745.02. 09 Feb 2010 17:17 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371883,00.html? BANGKOK - Thailand's government has no immediate plans to reverse its stimulus programme adopted since early 2009 despite growing signs of economic recovery in the past few months, Finance Minister Korn Chatikavanij said on Tuesday. 09 Feb 2010 16:48 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371882,00.html? HONG KONG - Hong Kong shares rose 1.22 per cent on Tuesday on profit-taking after three-straight days of big losses. 09 Feb 2010 16:22 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371881,00.html? SINGAPORE - Singapore property developer Roxy-Pacific expects revenue and profit in 2010 to rise above 2008 and 2009 levels, on sales from residential projects, chief executive Teo Hong Lim said on Tuesday. 09 Feb 2010 16:14 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371880,00.html? TOKYO - Japan Airlines Corp will keep its partnership with American Airlines in the Oneworld alliance due to concerns that forging ties with rival suitor Delta Air Lines would make it difficult to achieve a quick turnaround, a source with knowledge of the matter said. 09 Feb 2010 15:46 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371879,00.html? BERLIN - German exports rose against the previous month for a fourth consecutive period in December, pushing demand from abroad above the previous year's level for the first time in 14 months, official data showed on Tuesday. 09 Feb 2010 15:31 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371878,00.html? SYDNEY - An Australian man has agreed to pay Nintendo US$1.3 million for illegally uploading a game to the Internet six days before its global release, the firm said on Tuesday. 09 Feb 2010 15:05 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371877,00.html? SINGAPORE - The number of visitors to Singapore fell by 4.3 per cent last year to 9.7 million, driving the revenue from the sector down 19.2 percent to S$12.4 billion (US$8.73 billion), the country's tourism promotion agency said on Tuesday. 09 Feb 2010 14:30 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371876,00.html? TOKYO - Japan's Nikkei stock average edged down to a two-month closing low on Tuesday, with heightened concerns about the euro zone's sovereign debt woes continuing to eat away at investor confidence. 09 Feb 2010 14:22 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371875,00.html? TOKYO - Toyota has told Japan's government it will recall Prius hybrid vehicles worldwide, a transport ministry official said on Monday. 09 Feb 2010 14:09 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371874,00.html? ZURICH - Troubled Swiss bank UBS said on Tuesday that it had returned a 1.20 billion Swiss franc profit (US$1.12 billion) in the third quarter of 2009, shrugging off more than a year of quarterly losses. 09 Feb 2010 14:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371873,00.html? SYDNEY - Macquarie Group, Australia's top investment bank, forecast a disappointing second-half profit and gave an outlook that raised worries about its key equity business, sending its shares sliding 7 per cent. 09 Feb 2010 13:45 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371872,00.html? CANBERRA - A successful conclusion to the Doha round of global trade talks is still possible in 2010, but would need an injection of political energy, World Trade Organisation (WTO) head Pascal Lamy said on Tuesday. 09 Feb 2010 13:36 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371871,00.html? NEW YORK - The government of Ghana has blocked the estimated US$4 billion sale of a stake in its Jubilee oil field, foiling months of talks between potential buyer Exxon Mobil Corp and the stake's owner, Kosmos Energy LLC, the Wall Street Journal reported on Monday. 09 Feb 2010 13:32 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371870,00.html? SINGAPORE - Singapore Telecommunications is eyeing acquisitions in Asia and the fast-growing markets of Africa and the Middle East to boost growth after it reported quarterly earnings in line with estimates. 09 Feb 2010 13:22 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371869,00.html? TOKYO/DETROIT - Toyota Motor Corp is recalling nearly half a million of its flagship Prius and other hybrid cars for braking problems, a third major recall since September and a further blow to the reputation of the world's largest automaker. 09 Feb 2010 13:18 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371868,00.html? Overseas Union Enterprise (OUE) has warned that it expects to report a material loss for the year ended Dec 31, 2009 as a result of the fair value write down on an investment property of its associated company and impairment charge on the group's development properties last year. 09 Feb 2010 13:11 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371867,00.html? HONG KONG - Hong Kong shares were 0.18 per cent higher by the break on Tuesday, driven by bargain buying after recent falls amid concerns over debt troubles in Europe. 09 Feb 2010 13:05 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371866,00.html? KUALA LUMPUR - Malaysian stocks remained in the red on Tuesday morning after their US counterparts tumbled overnight on lingering worries about debt problems in the euro zone. 09 Feb 2010 12:59 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371864,00.html? SINGAPORE - The Singapore market followed its Hong Kong counterpart higher on Tuesday morning, regaining some of its early losses. 09 Feb 2010 12:47 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371863,00.html? Jurong Technologies Industrial Corpn Limited's judicial managers said the Singapore Exchange has written a letter to them stating the company will be delisted. 09 Feb 2010 12:47 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371862,00.html? Electronic manufacturing service provider, Valuetronics Holdings Limited, reported on Tuesday net profit for the fiscal third quarter to end December 2009 grew 7.8 per cent to HK$13.50 million. 09 Feb 2010 12:31 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371861,00.html? SC Global's subsidiary, AVJennings Limited, reported on Tuesday that it has returned to profit for the six months to December 31, 2009 on the back of major structural changes and a resilient Australian housing market. 09 Feb 2010 12:25 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371860,00.html? KUALA LUMPUR - Malaysia's highest court on Tuesday rejected an opposition bid to reclaim control of Perak state, ruling that the Barisan Nasional government's takeover last year was legal. 09 Feb 2010 12:21 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371859,00.html? TOKYO -Toyota said on Tuesday it is recalling 170,000 Prius hybrid cars in Japan for braking problems and will soon disclose details of its global plans for a fix. 09 Feb 2010 12:16 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371858,00.html? MUMBAI - Jet Airways Ltd, India's largest private carrier, is in initial talks with FedEx Corp to launch a dedicated cargo airline, the Mint newspaper reported on Tuesday, citing sources. 09 Feb 2010 11:40 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371857,00.html? SEOUL - South Korea producer price inflation hit a 10-month high in January, providing fresh evidence of growing consumer inflation pressure in the pipeline and adding to the case for a central bank interest rate increase soon. 09 Feb 2010 11:24 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371856,00.html? BEIJING - China Investment Corp, the country's US$300 billion sovereign wealth fund, has made its biggest US equity bets in natural resources and financial stocks. 09 Feb 2010 11:23 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371855,00.html? WELLINGTON - Singapore Telecommunications, Southeast Asia's biggest telecom firm, said on Tuesday no decision had been made on a rumoured partial float of its wholly-owned Australian subsidiary, Optus. 09 Feb 2010 11:17 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371854,00.html? TOKYO - The Nikkei average hit its lowest in two months on Tuesday, with shares of exporters falling as heightened concerns about the euro zone's sovereign debt troubles continued to hurt investor confidence. 09 Feb 2010 10:29 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371853,00.html? BEIJING - China plans to crack down on the online gambling industry, including the banks and websites that support it, the Ministry of Public Security said in a statement posted on its website. 09 Feb 2010 10:26 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371852,00.html? TOKYO - Toyota Motor Corp said on Tuesday it has suspended shipments of its Sai and Lexus hybrids for possible problems in the models' braking systems, as it prepares for a recall of its flagship Prius hybrid. 09 Feb 2010 10:15 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371851,00.html? BEIJING - China Investment Corp will manage more of its investments in developed markets in house this year, the head of the US$300 billion sovereign wealth fund said in remarks carried by official media on Tuesday. 09 Feb 2010 10:10 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371850,00.html? HONG KONG - Hong Kong shares extended their losing streak for a fourth session on Tuesday after a sharp decline in US stocks, but surging commodity prices could limit losses. 09 Feb 2010 10:07 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371849,00.html? SINGAPORE - Singapore Telecommunications, Southeast Asia's biggest telecom firm, said on Tuesday it was focusing on Asia for acquisitions but would also look at Africa and the Middle East. 09 Feb 2010 09:56 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371848,00.html? KUALA LUMPUR - Malaysian stocks opened weaker on Tuesday after their US counterparts tumbled overnight on lingering worries about debt problems in the euro zone. 09 Feb 2010 09:32 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371845,00.html? SINGAPORE - Australand has incurred a net full-year loss attributable to stapled security holders of A$298.24 million, down 843 per cent year-on-year, the subsidiary of Capitaland said on Tuesday. 09 Feb 2010 09:10 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371846,00.html? SINGAPORE - Stocks opened weaker on Tuesday following a fall on Wall Street amid heightened concerns about the euro zone's sovereign debt troubles. 09 Feb 2010 09:01 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371844,00.html? NEW YORK - The US job market improved in January for the fifth consecutive month, pointing to possible job growth in the first quarter of this year, a research group said on Monday. 09 Feb 2010 08:25 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371843,00.html? NEW YORK - A former Intel Capital director pleaded guilty on Monday to fraud in the Galleon insider trading case, telling a New York court that hedge fund founder Raj Rajaratnam gave him money for personal needs and that he profited from illegal trades. 09 Feb 2010 08:23 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371842,00.html? TOKYO - Japan's Nikkei average hit its lowest in two months on Tuesday, with exporters hurt after the Dow industrials closed below 10,000 for the first time since November hit by heightened concerns about the euro zone's sovereign debt troubles. 09 Feb 2010 08:15 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371841,00.html? NEW YORK - CIT Group Inc said its new Chief Executive John Thain will get an annual base salary of US$6 million, most of which is in stock, and a bonus of up to another US$1.5 million, in a nod to compensation practices popularised by the Obama administration's pay czar. 09 Feb 2010 08:08 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371840,00.html? SINGAPORE - Singapore Telecommunications Ltd reported net profit of $990 million in the quarter ended Dec 31 2009, 18 per cent higher than the same period in 2008. 09 Feb 2010 06:55 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371839,00.html? SINGAPORE - Singapore Telecommunications Ltd reported net profit of $990 million in the quarter ending Dec 31 2009, 18 per cent higher than the same period in 2008. 09 Feb 2010 06:33 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371838,00.html? WASHINGTON - The Federal Reserve could sell some assets later this year in an effort to whittle down its bloated balance sheet to avoid inflation, a senior Federal Reserve official said on Monday. 09 Feb 2010 06:17 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371837,00.html? NEW YORK - The federal judge who rejected a US government settlement with Bank of America Corp over its takeover of Merrill Lynch & Co questioned on Monday whether a revised US$150 million accord still unfairly punished shareholders. 09 Feb 2010 06:16 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/latest/story/0,4574,371835,00.html? NEW YORK - The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles. 09 Feb 2010 05:33 SGT