Singapore | SilverScorpio.Com

CNS Welcomes Go Markets to San Diego Datacenter

July 26, 2010 By vani Leave a Comment

SAN DIEGO, CA, Jul 25 (MARKET WIRE) —
Commercial Network Services is pleased to announce the arrival of
Australia’s leading FOREX broker to the CNS San Diego datacenter. Go
Markets has added a new server in the CNS San Diego datacenter to their
global MT4 network. The new server will result in better performance for
traders all over North America and most especially those hosted on a
Trader’s VPS in the CNS-SDCA datacenter, who will enjoy < 1ms latency to
the new server from their MT4 client terminals. The new server is the
latest addition to the growing Go Markets global presence, which now
includes servers in Singapore, Melbourne, Sydney, Perth and San Diego.

Commercial Network Services is the leading provider of VPS services
designed especially for FOREX traders and operates out of datacenters in
San Diego, New York City and London.

Contact:
Commercial Network Services
www.CommercialNetworkServices.com

Go Markets
www.gomarketsaus.com

Filed Under: International News Tagged With: Australia, Client Terminals, Commercial Network Services, datacenter, Datacenters, Forex Broker, Forex Traders, Global Presence, latency, latest addition, London, Melbourne, New York City, North America, perth, San Diego Ca, servers, Singapore, sydney, Vps

Temasek eyeing benchmark sterling bond sale-sources

July 20, 2010 By vani Leave a Comment

July 19 (Reuters) – Singapore state investor Temasek Holdings [TEM.UL] is looking to sell sterling-denominated bonds, its first issue in the British currency, sources with knowledge of the deal told Reuters.

Temasek could do a benchmark issue — which in industry terms is at least $500 million equivalent, sources said.

UBS (UBSN.VX), Deutsche Bank (DBKGn.DE), HSBC (HSBA.L) are likely to be lead managers for the sale, sources said.

Temasek and the banks declined to comment.

“They see sterling as an additional pool of capital for them,” said one of the sources who spoke to Reuters.

(Reporting by Saeed Azhar and Kevin Lim; additional reporting by Saikat Chatterjee in Hong Kong)

Filed Under: International News Tagged With: azhar, banks, Benchmark Issue, bonds, British Currency, chatterjee, Currency Sources, Deutsche Bank, HSBA, hsbc, lim, reuters, Saeed, Singapore, sterling, temasek holdings, UBS, UBSN, ul, Vx

Valero to clean McKee refinery unit over five-hour period-filing

July 20, 2010 By vani Leave a Comment

(For refinery outages in the new Reuters Oil Fundamentals Database see here or go to )

SINGAPORE July 19 (Reuters) – Valero Energy Corp (VLO.N) said on Monday it will clean a unit at its 170,000 barrel per day (bpd) McKee refinery in Sunray, Texas, according to a filing to state regulators.

Valero will “perform cleaning operations on the Unifiner Charge Heater” on Monday for five hours, it said in a notice with the Texas Commission on Environmental Quality, without specifying whether that would affect production. (Reporting by Alejandro Barbajosa; Editing by Ed Lane)

Filed Under: International News Tagged With: Mckee Refinery, Refinery Outages, Refinery Unit, reuters, Singapore, state regulators, Sunray Texas, Texas Commission On Environmental Quality, valero, Valero Energy, Valero Energy Corp, Valero Energy Corp Vlo

Singapore fund assets up 40 pct to $877 bln in 2009

July 10, 2010 By vani Leave a Comment

July 9 (Reuters) – Total assets managed by fund managers in Singapore rose 40 percent to S$1.21 trillion ($877 billion) last year, above the pre-crisis peak of S$1.17 trillion in 2007, the central bank said on Friday.

Asia Pacific continued to be the main target for investments by Singapore-based managers, accounting for 61 percent of assets under management in 2009, Monetary Authority of Singapore Deputy Managing Director Ong Chong Tee said at an investment forum.

About 51 percent of the funds were invested in stocks, while bonds accounted for 16 percent, the central bank said. (Reporting by Kevin Lim; Editing by Jan Dahinten)

Filed Under: International News Tagged With: accounting, Asia-Pacific, Assets Management, Assets Under Management, bln, Fund Assets, Fund Managers In Singapore, Investment Forum, investments, lim, managing director, monetary authority of singapore, pct, reuters, rose, Singapore, Stocks Bonds, target, trillion

India’s Fortis revokes 39 mln pledged shares

July 6, 2010 By vani Leave a Comment

July 5 (Reuters) – Fortis Healthcare (FOHE.BO), locked in a battle to take control of Singapore’s Parkway Holdings (PARM.SI), said on Monday the owners of the Indian hospital chain had revoked about 39 million pledged shares, or nearly 10 percent of total outstanding equity.

After the transaction, the percentage of shares pledged to total number of Fortis’ outstanding shares was roughly 31 percent, the company said in a disclosure to the Bombay Stock Exchange.

It did not provide details of the transaction in the stock exchange filing.

Companies usually pledge shares to raise funds and the agreement is revoked when the loans are repayed.

Fortis, which controls just over 25 percent of Parkway, had intended to build a controlling stake in the Singapore firm before Malaysian state fund Khazanah made a surprise $835 million partial offer in May to lift its stake to 51.5 percent. [ID:nSGE64Q042]

Analysts say billionaire brothers Malvinder and Shivinder Singh, who control Fortis, have the access to capital to challenge the Malaysian fund, although Khazanah has far deeper pockets, with $28 billion in assets. (Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)

Filed Under: International News Tagged With: assets, Billionaire, bombay stock exchange, control, disclosure, Fohe, Fortis, Fortis Healthcare, India, loans, mln, Outstanding Shares, Parkway Holdings, PARM, pledge, pockets, reuters, Singapore, stake, surprise

Indonesia’s Harum Energy delays $400 mln IPO-sources

July 6, 2010 By vani Leave a Comment

July 5 (Reuters) – Indonesia’s PT Harum Energy, a thermal coal miner, has indefinitely delayed a $400 million initial public offering planned for this August due to market conditions, two sources involved in the deal told Reuters on Monday.

“The company asked to delay the listing indefinitely,” said a source close to the deal, who declined to be identified because they were not allowed to speak publically on the matter. (Reporting by Janeman Latul in Jakarta and Harry Suhartono in Singapore; Editing by Neil Chatterjee)

Filed Under: International News Tagged With: chatterjee, Coal Miner, energy sources, Harum, Indonesia, Initial Public Offering, IPO, Jakarta, mln, reuters, Singapore, Thermal Coal

Wilmar, Elevance to build Indonesia biochemical plant

June 30, 2010 By vani Leave a Comment

June 29 (Reuters) – Singapore’s Wilmar International (WLIL.SI) and U.S.-based Elevance Renewable Sciences will build a refinery in Indonesia to produce biofuels and oleochemicals, the two firms said on Tuesday.

Non-Cyclical Consumer Goods

The refinery, which is expected to be ready in 2011, will have an initial capacity of 180,000 metric tonnes a year and can be expanded to produce 360,000 metric tonnes of biofuels and oleochemicals annually.

The joint venture facility will be located within Wilmar’s upcoming manufacturing complex in Surabaya, Indonesia’s second largest city after Jakarta.

Wilmar, the world’s largest listed palm oil firm, and Elevance, a U.S. biotech start-up, did not say how much the refinery will cost. (Reporting by Harry Suhartono, editing by Kevin Lim)

Filed Under: International News Tagged With: consumer goods, Initial Capacity, Jakarta, joint venture, June 29, lim, metric tonnes, Oil Firm, palm oil, refinery, reuters, Singapore, Surabaya Indonesia, Venture Facility, Wilmar International

Fortis says GIC to defer preferential investment

June 26, 2010 By vani Leave a Comment

June 25 (Reuters) – Fortis Healthcare (FOHE.BO) said on Friday Singapore’s GIC had decided to defer preferential investment in the Indian hospital chain, but will evaluate participation in broader fund raising by Fortis.

Healthcare

Fortis said in a separate statement it had approved conversion of warrants into equity. (Reporting by Sumeet Chatterjee)

Filed Under: International News Tagged With: chatterjee, conversion, Fohe, Fortis, Fortis Healthcare, fund-raising, GIC, investment, participation, reuters, Singapore, warrants

Fortis hires Macquaire, Religare Cap for funds-sources

June 16, 2010 By vani Leave a Comment

June 15 (Reuters) – India’s Fortis Healthcare (FOHE.BO) has hired Macquarie (MQG.AX) and Religare Capital to raise funds for a possible battle with Malaysia’s sovereign wealth fund for Singapore’s Parkway Holdings (PARM.SI), two sources with knowledge of the matter said.

Healthcare

Fortis is also in talks to hire RBS (RBS.L) to help raise funds, the sources said, who declined to be identified as the matter is not yet public.

The Economic Times had reported on Tuesday a consortium of banks were willing to fund up to $1 billion, citing its television channel ET NOW. [ID:nSGE65E047]

Fortis, Macquaire, RBS and Religare declined to comment. (Reporting by Sanjeev Choudhary and Saeed Azhar; Editing by Ranjit Gangadharan)

Filed Under: International News Tagged With: 1 Billion, banks, cap, consortium, economic times, Fohe, Fortis, Fortis Healthcare, India, knowledge, Parkway Holdings, PARM, RBS, Religare, reuters, Singapore, television channel

Newline Announces New Professional Indemnity Senior Underwriter

June 15, 2010 By vani Leave a Comment

LONDON–(Business Wire)–
Newline, a unit of Odyssey Re Holdings Corp. announced today that Ceri Welch has
been appointed Senior Underwriter responsible for all commercial Professional
Indemnity (PI) underwriting.

Phil Foley, Chief Underwriting Officer for Newline, commented “We are delighted
to announce Ceri`s promotion to head up one of our key business segments. Ceri
has been an integral member of Newline`s PI team since 2005 and brings more than
20 years of experience to this important role.

Newline, a specialist casualty direct and facultative underwriter, operates
through Lloyd`s Syndicate 1218 and Newline Insurance Company Ltd. Newline writes
business in more than 79 countries around the world from three underwriting
centres in London, Singapore and Melbourne.

Odyssey Re Holdings Corp.
Phil Foley, 44 (0) 20 7090 1702

Filed Under: International News Tagged With: business segments, business wire, casualty, Ceri, company ltd, Countries Around The World, foley, insurance company, Integral Member, Key Business, lloyd, london business, Melbourne, Odyssey, Pi Team, Professional Indemnity, s promotion, Singapore, syndicate, underwriter

Petronas hires bankers for $2 bln IPO of unit-sources

June 9, 2010 By vani Leave a Comment

June 8 (Reuters) – Malaysia state energy company Petronas [PETR.UL] has hired Deutsche Bank (DBKGn.DE), CIMB (CIMB.KL) and Morgan Stanley (MS.N) as book-runners to advise on a planned $2 billion listing of its petrochemcial business, sources with knowledge of the deal said.

The listing will likely take place in the fourth quarter of this year depending on market conditions, one of the sources told Reuters on Tuesday.

More banks may be added to the IPO effort later, the sources said.

Azman Ibrahim, a Petronas spokesman, declined to comment and officials at the three banks were not immediately available for comment. (Editing by Ed Lane) (Reporting by Saeed Azhar and Daniel Stanton of IFR Asia in Singapore and Soo Ai Peng in KUALA LUMPUR)

Filed Under: International News Tagged With: azhar, azman, banks, business sources, Cimb, Daniel Stanton, Deutsche Bank, Energy Company, Fourth Quarter, IPO, Kuala Lumpur, morgan stanley, petronas, reuters, runners, Saeed, Singapore, spokesman, State Energy, ul

MOVES-RBS Coutts hires Citi strategist for investment role

June 9, 2010 By vani Leave a Comment

June 8 (Reuters) – RBS Coutts, the private banking arm of Royal Bank of Scotland (RBS.L), said on Tuesday it has appointed Norman Villamin to the newly created role of head of investment strategy for Asia.

Financials

Villamin, who is based in Singapore, joined RBS Coutts from Citi Private Bank where he specialised in asset allocation and multi-asset class research and advice.

Private banks, in particular Standard Chartered (STAN.L) and Deutsche (DBKGn.DE), are hiring aggressively in Asia and poaching staff from one another in a bid to tap the region’s growing ranks of millionaires.

RBS Coutts said Villamin’s appointment “is the latest in a series of senior hires RBS Coutts has made over the last few months to support the bank’s growth aspirations in Asia.”

(Reporting by Kevin Lim; Editing by Saeed Azhar)

Filed Under: International News Tagged With: appointment, aspirations, Asset Allocation, asset class, azhar, bank of scotland, Coutts Bank, Investment Role, investment strategy, lim, millionaires, Private Bank, private banking, private banks, RBS, reuters, royal bank of scotland, Singapore, stan, strategist

S. Korea’s Lee says referred ship sinking to U.N.

June 5, 2010 By vani Leave a Comment

June 4 (Reuters) – South Korean President Lee Myung-bak said on Friday that Seoul had complaind to the United Nations Security Council about the sinking of its naval ship by the North in March.

“Today, the Republic of Korea government referred the matter of North Korea’s attack against the Cheonan to the U.N. Security Council,” said Lee, speaking at a security conference in Singapore.

“North Korea must admit its wrongdoing, it must pledge to never again engage in such reprehensible action. This is in the interest of peace. This is in the interest of North Korea.” (Reporting by Nopporn Wong-Anan; Editing by Raju Gopalakrishnan)

Filed Under: International News Tagged With: Anan, Cheonan, gopalakrishnan, Korea Government, Lee Myung-bak, nations security council, Naval Ship, North Korea, pledge, president lee, republic of korea, reuters, security conference, Seoul, Singapore, south korean president, United Nations, united nations security, united nations security council, wrongdoing

Three BP fuel oil traders in U.S., 1 in London quit

June 1, 2010 By vani Leave a Comment

May 31 (Reuters) – Resignations from BP Plc’s (BP.L) fuel oil team have extended globally, with the departure of three traders from its U.S. office, including the team leader, and the head trader in London, three industry sources said on Monday.

Stocks

These take the total number of departures from the unit to 14 worldwide, after Reuters reported that five fuel oil traders in Singapore and four support staff quit last Wednesday, following the resignation of global fuel oil head Quek Chin Thean a week before that. [ID:nSGE64P0MF]

When contacted, a BP spokeswoman in Singapore declined to comment. The reason for the resignations was not immediately clear.

The fuel oil traders in the United States and London resigned over the past three to four weeks, the sources said.

“Most of BP’s fuel oil team, including the global head and the heads of the three trading centres, have left in the past month,” a U.S.-based source said. (Editing by Ramthan Hussain)

Filed Under: International News Tagged With: bp, Bp Oil, Bp Plc, departures, Fuel Oil, global head, Head Trader, hussain, industry sources, Oil Head, Oil Traders, Quek, resignation, resignations, reuters, Singapore, spokeswoman, support staff, team leader, United States

Malaysia coastguard says damaged tanker has 10m gash

May 26, 2010 By vani Leave a Comment

A tanker and a bulk carrier collided in Malaysian waters off Singapore on Tuesday at 6.05 a.m. (2200 GMT on Monday), Malaysian coast guard officials said.

They said the collision between the two ships –identified as tanker Bunga Kelana 3, and the MT Waily — led to an oilspill.

“The collision caused a 10-metre (yard) tear in the left side of the tanker and 2,000 metric tonnes of crude oil has spilled into the sea where the collision occured,” Commander Abdul Hadib bin Abdul Wahab told Reuters.

Malaysia’s largest shipping company MISC a unit of state-run oil company Petronas [PETR.UL], lists the Bunga Kelana 3 as an Aframax class tanker built in 1998 with a dead-weight-tonnage of 105,784 on its website (http://www.misc.com.my).

The tanker is owned by MISC subsidiary American Eagles. (Reporting by Razak Ahmad; Editing by Jerry Norton)

Filed Under: International News Tagged With: American Eagles, bulk carrier, Coast Guard Officials, coastguard, crude oil, gmt, Malaysian Waters, metric tonnes, Norton, oil company, Oilspill, petronas, Razak Ahmad, reuters, shipping company, Singapore, subsidiary, tonnage, two ships, ul

Button hits back at former Renault boss Briatore

May 8, 2010 By vani Leave a Comment

London, May 8 (ANI): Formula One champion Jenson Button has hit back at former Renault boss Flavio Briatore’s claim that he is not one of the world’s top five drivers.

“It did make me laugh when I read what Flavio said. He likes to be outspoken, but I am very happy. I have done everything I set out to do when I started racing in F1. I am leading the championship and he is not even in the sport,” he said.

“I am sat here as the world champion, I’ve won two races this year, I’m all right. It doesn’t upset me – he has got to try a bit harder than that. But I don’t know what he was thinking as I thought we got on all right,” The Sun quoted Button, as saying.

Button, 30, had two difficult years when Briatore, who is out of the sport after fixing the 2008 Singapore Grand Prix, was his Benetton/Renault boss in 2001-02.

But Button reckons that the bad times have made him a better driver.

“It was the roughest time of my career but it was a learning curve. They are important years and some of us go through more than others. That was a tough time in my career but I wouldn’t change it. You need the bad days to make you realise it is not always a walk in the park,” he said.

Button unveiled a plaque on champions” avenue at the Circuit de Catalunya yesterday commemorating his title triumph with Brawn GP last year, and said he is not feeling any pressure despite the stunning start with his new team. (ANI)

Filed Under: International News Tagged With: Benetton Renault, boss, brawn, flavio briatore, Formula One, Gp, Grand prix, Jenson Button, learning curve, London, plaque, renault, Renault 8, Singapore, Sun, triumph, Walk In The Park, world champion

South Korean golfers call off OneAsia boycott

April 30, 2010 By vani Leave a Comment

Singapore, April 30 (IANS) The stand-off by the South Korean golfers towards the OneAsia golf Tour thawed with the golfers calling off their boycott of OneAsia tournaments Friday.

Korean players have been assured more entries in forthcoming events, according to the Korean PGA.

With the boycott having been called off, it was a big relief for OneAsia, which is made up of Australian, Chinese and Korean golf bodies. This was also good news ahead of the first event in South Korea this year, the Maekyung Open next week.

The players were upset that they were being given fewer places for locals in the three former Korean Tour events.

The latest assurance of a minimum of 60 South Korean golfers at each of these events and that no more Korea Tour events would be added to the OneAsia Tour resulted in the end to the boycott threat.

The Maekyung Open will have a total of 74 South Korean golfers including invited players.

Filed Under: International News Tagged With: April 30, Boycott Threat, Forthcoming Events, Golf Tour, Korea Tour, Korean Golfers, Korean Tour, locals, Maekyung, Oneasia, pga, Singapore, South Korea, South Korean

Big blow for OneAsia as Korean golfers boycott events

April 30, 2010 By vani Leave a Comment

Singapore, April 28 (IANS) A decision by the South Korean golfers to stay away from the newly set up OneAsia has bolstered the position of the Asian Tour in the region.

The arrival of OneAsia had sent a lot of conflicting signals in golf circles over the control of the sport in Asia.

OneAsia Tour, which had announced a season with around 11 events in the region suffered a body blow with South Korean golfers this week voting to boycott all of its events.

The members of the Korea Professional Golfers’ Association (KPGA) had initially indicated they might boycott events in Korea because of a dispute over the number of spots for local golfers.

But when the meeting took place, the KPGA took a harsher stance and decided to stay away from all events run by OneAsia, some of which are to be held in China and Australia.

According to Korean media, the KPGA announced that the players will boycott every OneAsia event in the Asian region, not just in Korea.

The events in Korea include Maekyung Open and the SK Telecom Open, which were once part of Asian Tour and then seemed to have gone with OneAsia. But latest developments indicate that they will once again go back to being part of the Asian Tour.

Many players are also said to have expressed discontent over OneAsia not being able to creating new events and instead have merely brought in existing events from Asian Tour into their fold. The decision on Korean events’ joining Asian Tour will soon be taken.

Filed Under: International News Tagged With: asia tour, Asian Region, asian tour, Australia, Body Blow, boycott, China, discontent, Golf Circles, Korea, Korean Events, Korean Golfers, Korean Media, Kpga, Oneasia, Professional Golfers Association, signals, Singapore, Sk Telecom Open, Sport

This may hurt a little, ‘the Dentist’ warns Portugal

April 27, 2010 By vani Leave a Comment

North Korea’s Pak Doo-ik inflicted so much pain on Italy at the 1966 World Cup he is still referred to as “the Dentist”.

Now aged 68, Pak has urged the current North Korean side to dish out the same kind of punishment to Portugal, who ended the North’s fairytale adventure in England 44 years ago.

Pak’s goal gave North Korea a 1-0 win over the Italians in 1966, eliminating them from the tournament at the group stage.

In the quarter-finals, the North stormed to a 3-0 lead against Portugal before a Eusebio-inspired fightback earned the Portuguese a 5-3 win.

“To this day I feel disappointed about the game against Portugal in 1966,” Yonhap News agency quoted Pak as telling a Brazilian newspaper. “I want payback for that loss 44 years ago.”

North Korea are in Group G with Portugal, Ivory Coast and Brazil for the 2010 World Cup finals in South Africa, and Pak believes they can once again cause an upset.

“I believe North Korea and Brazil will succeed in advancing to the last 16 at the World Cup in South Africa,” he said.

“North Korean soccer has come a long way and I believe we will advance to the second round.”

(Reporting by Jack Kim, writing by Peter Rutherford in Singapore; Editing by Greg Stutchbury; To query or comment on this story email sportsfeedback@thomsonreuters.com)

Filed Under: International News Tagged With: Brazil, dentist, fairytale, fightback, Group Stage, italians, Ivory Coast, Jack Kim, Korean Side, news agency, North Korea, portugal, portuguese, quarter-finals, Rutherford, Singapore, South Africa, stutchbury, world cup finals, yonhap

New Issue-City Developments issues S$80mln bond

April 15, 2010 By vani Leave a Comment

SINGAPORE, Apr 14 (Reuters) – Following are terms and conditions of a bond to be issued on April 21, 2010

Cyclical Consumer Goods | Financials

Borrower City Developments Ltd

Form of debt Fixed Rate Bond,MTN

Issue Amount S$80 million

Coupon 2.920% pa semi-annual

Issue Date April 21, 2010

Maturity Date April 21, 2014

Coupon Payment Date 21 October, 21 April

Commencing on 21 October 2010

Denominations S$250,000

Lead Managers DBS

For ratings information, double click on RRS0001

For all bonds data, double click on BONDS

For Top international bonds news [TOP/EUB]

For news about this issuer, double click on the issuer RIC,

where assigned, and hit F9 on Reuters terminals.

Data supplied by International Insider.

Filed Under: International News Tagged With: City Developments Ltd, consumer goods, Coupon Payment, Denominations, Double Click, Eub, F9, Fixed Rate Bond, insider, International Bonds, Issue Date, lead, maturity date, Payment Date, reuters, Singapore