Hi,
It's a
simple timing issue: You try to start the NTP daemon to early (before you have time synced which is depended on the DNS if you have set an external time server).
Either you
start the NTP deamon later (give the NTP start script a sleep of ~40 sec.) or you
fix it with fake HW clock, or (as I did)
with hostip (it uses OpenDNS to resolve names).
I have selected hostip for me as it allows me to have DNS ready at a very early stage of the boot process - which is very beneficial for some of my other services running on the router.
With kind regards
Joe