Egyptian President Hosni Mubarak said Tuesday that he will not seek re-election when his current term in office expires in September, but defied mass protests calling for his immediate resignation. “I do not intend to run for the coming presidential election,” Mubarak said. In his remaining time in office he would “work to ensure the [...]
Posts Tagged ‘term’
SGX secures term loans of $3.8b and A$750m for ASX merger
SGX says it has secured term loans of $3.8 billion and A$750 million ($952 million) for long-term financing facilities for the proposed ASX-SGX combination announced on 25 October 2010.
The funding comprises to be made available by Australia and New Zealand Banking Group, The Bank of Tokyo- Mitsubishi UFJ, Singapore Branch, DBS Bank, Oversea-Chinese Banking Corporation, United Overseas Bank and National Australia Bank.
Preventive maintenance and its long term benefits Posted By : Jenny Birkin
To save the time and money of its consumers, organizations and manufacturers are including preventive maintenance programs in their customer services. These programs contain a calendar of intended maintenance actions that the manufacturing company aims to take in order to prevent the breakdown and failure of the supplied machines and other parts.
Facebook Is Most-Searched Term in 2010: Report
Web surfers spent more time in 2010 looking up Facebook than any other search term, according to an Experian report. – It was truly the year of the social network, as Facebook topped the
list of most-searched terms on the Internet for the second year in a
row, according to Experian Hitwise, a part of Experian Marketing
Services.
The company, which analyzed the Top 1000 search terms for 2010, said
the word “fac…
Wesley Snipes†lawyers file fresh appeal against his 3-year prison term
Incarcerated Wesley Snipes” lawyer has filed a fresh appeal against the star’s three-year prison term for tax evasion. The lawyer is requesting the officials to free the actor so that he can fight his case in the U.S. Supreme Court. ‘The Blade’ star spent two years fighting his 2008 conviction for failing to file tax [...]
Wesley Snipes begins 3-yr prison term for tax evasion
Actor Wesley Snipes will begin serving his three-year sentence for tax evasion at a federal prison in the US state of Pennsylvania. Snipes arrived shortly before a 1700 GMT deadline at the Federal Correction Institution McKean in Lewis Run, confirmed Federal Bureau of Prisons spokesman, Ed Ross. The 48-year-old star of the Blade films was [...]
One Raffles Quay signs $900m term loan to refinance debt
Wesley Snipes to serve 3-year jail term
‘Blade’ star Wesley Snipes has been ordered to serve a three-year jail sentence for a felony tax conviction. The decision was handed over after a Florida judge rejected his bid for a new trial. Revoking bail for the 48-year-old star, the judge ordered him to report to prison as directed by the US Marshal”s Service [...]
Govt. aiming at double digit GDP growth in medium term: Pranab Mukherjee
Union Finance Minister Pranab Mukherjee on Friday said the government is aiming at a double digit Gross Domestic Product (GDP) growth in the medium term, and added that there is already an upturn in investment and private consumption demand, revival of merchandise exports and buoyancy in capital flows, which can support this growth. Addressing the [...]
STI flat at 3,235.06 at midday; Biased down near term: Analyst
Singapore stock market quiet as players generally holding back ahead of tomorrow’s public holiday. Volume thin at 723.3 million shares worth $766 million, according to Dow Jones.
Market breadth almost flat vs nearly 2.5 gainers for every decliner in early trade. STI flat at 3,235.06 midday vs tight 3,232-3,244 intraday band, not expected to challenge Friday’s 3,285 high for rest of session.
STI +0.2%; Gains sustainable near term – DBSV
Wilmar syndicates US$1.1b term loan facility and A$600m revolving credit facility
Wilmar International says it is syndicating a US$1.1 billion ($1.4 billion) syndicated term loan facility to finance the acquisition of Sucrogen and an A$600 million ($769 million) syndicated revolving credit facility to finance the general corporate and working capital requirements of Sucrogen.
Australia and New Zealand Banking Group and The Hongkong and Shanghai Banking Corporation have been appointed the mandated lead arrangers and bookrunners for the facilities.
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US court hands another Pakistani long jail term
NEW YORK – A defiant Faisal Shahzad, a US citizen of Pakistani origin, was sentenced to life in prison Tuesday morning for his failed Times Square car-bombing plot.
Shahzad, 30, speaking before the sentence — a foregone conclusion — was pronounced, warned Americans to “brace yourself” for future attacks.
“The defeat of the US must and will happen in the near future,” Shahzad declared, adding that the attacks were just Muslims defending themselves.
“If you call us terrorists for doing that, then we are proud terrorists,” said Shahzad, wearing a white skull cap and a blue prison-issued outfit.
The sentence in Manhattan Federal Court came just five months after Shahzad parked an explosives-laden van in a crowded street near a theatre and tried to detonate it.
“You are a young man, and you will have a lot of time to reflect on what you have done and what you have said today,” Federal Judge Miriam Cedarbaum said in handing down the life term.
Cedarbaum said her sentence was very important “to protect the public from further crimes of this defendant and others who would seek to follow him.”
At one point, Judge Cedarbaum cut him off to ask Shahzad if he had sworn allegiance to the United States when became a citizen last year.
“I did swear but I did not mean it,” Shahzad said.
“So you took a false oath,” the judge told him.
The unusually quick terror-related case turnaround followed ShahzadÂ’s admissions to his role in the plot to detonate the bomb when dozens of tourists and theatregoers were around on a Saturday night in May.
“I want to plead guilty, and IÂ’m going to plead guilty 100 times over because until the hour the US pulls its forces from Iraq and Afghanistan, and stops the drone strikes in Somalia and Yemen and in Pakistan, and stops the occupation of Muslim lands, and stops killing the Muslims… we will be attacking US, and I plead guilty to that,” he told the judge in a plea on June 21.
“One has to understand where I’m coming from,” he added.
The one-time resident of suburban Connecticut, a married father of two, declared himself “a Mujahid.”
Prosecutors said Shahzad, 31, was already plotting a second attack if his Times Square bombing came off as planned. He was instead arrested at Kennedy Airport two days after the May 1 bombing bid while sitting aboard a Dubai-bound plane.
Shahzad raised the slogan of “Allahu Akbar” after hearing the sentence, and said he would “sacrifice a thousand lives for Allah.”
“War with Muslims has just begun,” said Shahzad.
Shahzad also said he was happy with “the deal” God had given him. “We have laws made by Allah. We don’t need laws made by humans.”
Judge Cedarbaum remarked, “You are capable of education, and I do hope you spend time in prison thinking about whether the Qoran gives you the right to kill innocent people.”
ShahzadÂ’s exchange with Judge Cedarbaum began with Shahzad reading a prepared statement. Cedarbaum then asked Shahzad not to read, but to speak instead.
Shahzad told Cedarbaum it took him six months to connect with the Taliban in Pakistan. He said he then spent 40 days with the Taliban in Waziristan, only five of which were devoted to bomb training.
Suntec REIT secures $700 million term loan facility
ARA Trust Management (Suntec), as manager of Suntec REIT, is pleased to announce that HSBC Institutional Trust Services (Singapore) Limited, as trustee of Suntec REIT, has today successfully entered into a facility agreement for a $700 million term loan facility.
The loan facility comprises a $350 million 3-year loan and a $350 million 5-year loan, at a blended all-in interest margin of 1.5% from a panel of nine banks. The loan facility will be secured by Suntec City Mall. The facility agreement was signed with local banks DBS Bank, United Overseas Bank, and 7 foreign banks namely Bank of China Limited Singapore Branch, CIMB Bank Berhad Singapore Branch, Citibank N.A. Singapore Branch, Commonwealth Bank of Australia Singapore Branch, Natixis Singapore Branch, The Bank of Nova Scotia Asia Limited and Standard Chartered Bank.
The loan facility will be used to prepay the $575 million 3-year loan maturing in FY 2012, and to refinance part of the $400 million club loan maturing in FY 2011. With this, the weighted average term to expiry of Suntec REIT’s debt portfolio has been extended from 1.8 years to 3 years.
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Swedish PM given second term
Sweden’s prime minister has won re-election but lost his majority, euronews reports. Frederik Reinfeldt becomes the first center-right leader to be given a second term in what many see as Europe’s model of social welfare.
STI +0.4%; Downside near term may be small: Dealer
Singapore shares still holding up well, though upside for blue chips appears limited as participants remain glued to small caps, penny stocks, says Dow Jones.
STI +0.4% at 3,078.06, expected to close below 3,100. FTSE ST Small Cap Index +0.8%, FTSE ST Catalist Index, which tracks penny plays, +1.6%.
“The market’s still fairly buoyant despite the STI holding at more than 2-year highs. Unless there’s some really nasty news, any pullback in the near term should be small,” says a local house dealer.
Notable gainers among lower liners include Biosensors (B20.SG), +17.3% at $0.985, DMX Technologies (5CH.SG), +22.9% at $0.43, China Energy (A0G.SG) +12.9% at $0.175.
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Ascott sells $522m worth of units: term sheet
The company is selling 487.5 million new units, or 44% of the total number of units which will be in issue immediately after the equity fundraising, the term sheet said.
Of the offering units, the company is selling 419.7 million units by private placement at $1.07 to $1.13 each, and it is also selling 67.86 million units by preferential offering at $1.07 to $1.11 each.
Ezra says it draws down $70m term loan facility in full
Ezra Holdings said it has today drawn down a $70 million term-loan facility in full. DBS Bank Ltd. and Hongkong & Shanghai Banking Corp. are the mandated lead arrangers of the facility, the company said in a statement. Proceeds will be used to finance new business ventures, investments, acquisitions and capital expenditure, Ezra said.
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United Engineers secures $220m term loan facilities for EC development at Sengkang
United Engineers says MaxLee Development has managed to secure term loan facilities amounting to $220 million from United Overseas Bank and Oversea-Chinese Banking Corporation to finance its development of the Executive Condominium at land parcel Sengkang E3 at Sengkang East Avenue/Buangkok Drive.
MaxLee is a joint venture company between United Engineers Developments, Maxdin Pte Ltd and LMG Realty. UED and Maxdin are both subsidiaries of the company and they hold 35% and 30% stakes in MaxLee respectively.
The proceeds from the term loan facilities will be used to partially finance the land and related construction costs of the project.
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STI may slip; More weakness eyed near term: OCBC
Singapore shares may pull back in early trade on DJIA’s fall Friday sparked by lingering unease over global economic prospects, according to Dow Jones.
Support for STI, which closed down 0.4% at 2,936.48 Friday, remains at 2,900, with any upside likely capped at 2,969 (Aug 11 high).
“The STI has now transited into a consolidation phase,” says OCBC Investment Research analyst Philip Teo, noting index’s tight 2,915-2,952 trading band last week: “This suggests that the 15% rally from end May to early August might have exhausted and the index could be taking a breather before extending a further correction in the weeks ahead.”



