The Business Times, 11 July 2009

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Microfilm: NL30091
Total Pages: 44
1 44 The Business Times
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  • Title Section
    Lock icon Masthead
    18 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JULY 11-12, 2009 Ssl.oo MICA (P) 198/08/2008 Sf^l A SINGAPORE PRESS HOLDINGS PUBLICATION
    18 words
  • Article
    Lock icon Credit Suisse's OCBC conundrum
    509 1  -  Conrad Tan Its deemed stake in Singapore bank crosses 5% which may require regulator's approval By conradt@sph.com.sg Singapore CREDIT Suisse this week became a substantial indirect shareholder of OCBC Bank as a result of an earlier deal with Aberdeen Asset Management, taking its deemed stake in
    509 words
  • Article, Illustration
    Lock icon Train me up, I'm an entrepreneur at heart
    485 1  -  Chen Huifen Spring to subsidise training for PMETs looking to start their own businesses By xuifen@sph.com.sg Singapore WHO says entrepreneurs are born, not made? The government has floated a scheme to train up professionals who have been mulling over the option of
    LIANHE ZAOBAO  -  485 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      152 1 MOTORING WEEKEND WITH kfj FROM THE DESK OF WB^^ 001^ The new XJ-simply Aviva CEO Michael Tan, Etihad W^ stunning L2O Shaun Meadows Ll4 if Airways Singapore 9 SURVIVAL SKILL Reinvent or get left behind Boustead Singapore executive chairman Wong Fong Fui tells of a forgotten China town to push
      152 words
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 2
      25 1 •SIR ~j OLD HANDS, SkJ^Vf NEW KITCHENS Ip Three culinary veterans MM l j take the plunge with H^^fl new restaurants L 2-3 V| Aft/
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        47 2 KL COMP 1,067.76 +2.08 NIKKEI 225 9,287.28 -3.78 HANG SENG 17,708.42 -82.17 SET 566.03 -15.96 JAKARTA 2,063.09 -20.88 MANILA 2,487.22 +13.37 KOSPI 1,428.62 -2.27 SHENZHEN B 512.77 +2.10 MUMBAI IND 13,504.22 -253.24 12 noon EDT Chanpe 12 noon EDT Change DOW 8,107.37 -75.80 NASDAQ 1,745.22 -7.33
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      • Article
        Lock icon PRIME RATES
        30 2 Bloomberg SINGAPORE 5,38 MALAYSIA 5,55 HONG KONG 5,00 INDONESIA 16,709 TAIWAN 4,776 JAPAN 1,475 KOREA 9,33 BRITAIN 050 US 3,25 CANADA 2,25 SWITZERLAND 0,52 INDIA 11,75 Source: t
        Bloomberg  -  30 words
      • Article
        Lock icon FOREX
        47 2 us$ 2$ ier US$; 1.461 ;us$/s$ 1.628 2.378 EURO. vs$. IS$i 1.392 2.033 Foreign currency per US$ S$ YEN 92.70 63.40 RM 3.578 2.449 HK$ 7.750 5.305 BAHT 34.09 23.33 RUPIAH 10,145 6,944 RENMINBI 6.832 4.677 INDIAN RUPEE 48.76 33.37 A$ 1.284 0.879 NZ$ 1.594 1.091
        47 words
    • Article
      Lock icon AIG shares tumble 27% on bearish call
      415 2 Citigroup analyst says value of troubled insurer's equity may fall to zero Washington SHARES of American International Group Inc plummeted more than 27 per cent on Thursday after a Citigroup analyst said that the value of the troubled insurer's equity may fall to
      415 words
    • Article
      Lock icon Consumer confidence takes a dive
      274 2 Reuters LATEST US DATA Washington US consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed yesterday. Consumers' rising concerns about a protracted
      Reuters  -  274 words
    • Article, Illustration
      Lock icon Reinvent or die – lesson from Chinese town
      629 4  - Reinvent or die lesson from Chinese town Joanne Tang Boustead chief, well known for turning around businesses, offers up some lessons By tjoanne@sph.com.sg Singapore FOR a lesson on entrepreneurship and reinvention, Wong Fong Fui, executive chairman of Boustead Singapore, narrated the story of Ping Yao at the Blue Sky Festival
      LIANHE ZAOBAO  -  629 words
    • Article, Illustration
      Lock icon Businesses give govt agencies the thumbs-up again
      507 4  -  Chen Huifen 14 of the 26 agencies achieve higher PEI scores this year xuifen@sph.com.sg Singapore SINGAPORE'S government agencies have maintained their level of business-friendliness, going by the latest average Pro-Enterprise Index (PEI), which eased just 0.4 of a point to 74.2. The index
      LIANHE ZAOBAO  -  507 words
    • Article, Illustration
      Lock icon Japan wholesale price slump fuels deflation fears
      445 5  -  Anthony Rowley But minister says it's too early to say deflation is back btworld@sph.com.sg Tokyo JAPANESE wholesale prices plunged a record 6.6 per cent in June from a year earlier, reinforcing fears that the world's secondlargest economy is headed for deflation for the
      REUTERS  -  445 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Lock icon Page 2 Miscellaneous Column 1
      55 2 NEWS LIVING Top stories 2,4,5 Dining L 2-5 Raffles Conversation 6-7 Shopping L 6,7,9 Letter From Abroad 16 Gadgets US World T7-T8 Home Garden LIO-IT Stocks Stats T9-23 Travel U2-T3 Perspective 24-25 Weekend With Ll4 Wealth 26-29 Health Ll5 Show Me The Money 28 Sport Ll6 Real Estate 30-32 Golf
      55 words
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  • Page 3 Advertisements
    • Advertisement
      Lock icon Page 3 Advertisements Column 1
      121 3 /l^*^^ H THE 14" I M- ITiTiTil r v i d a m \w liMi EMI RATES W Jp of Prestige, Excellence and Style. g An enduring partnership is just one of the many legacies of the Emirates WmJ il -*jM&^t Singapore Derby. Defined by the glamour of the finest
      121 words
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  • Page 5 Advertisements
    • Advertisement
      Lock icon Page 5 Advertisements Column 1
      44 5 Head Office: 10 Fourth Lok Yang Road Singapore *****7 City Showroom: 390 A Havelock Road #01-06/08 Waterfront Plaza Singapore *****4 \BS W7 Showroom hours: Monday Friday: 10am to 7pm, Saturday, Sunday and Public Holiday: 10amto6pm Dial: 1800-TRIDENT or 6836-1112 www.maseratidealers.com/hongseh Official Maserati Importer, Singapore
      44 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Made in Singapore
      1562 6  -  Arthur Sim Cold calls, hard work and steely persistence turned a plucky entrepreneur into Singapore's own fashion retail maestro. Frank Benjamin shares his story. By IT is not often one conies face to face with history. But in Frank Benjamin, one gets quite close to the authentic
      ARTHUR LEE  -  1,562 words
    • Article
      Lock icon The entrepreneurial spirit
      532 6 IF Singaporeans today lack the entrepreneurial spirit, it could be because the motivational factors have changed. "It was ambition that made me want to start a business but it is not the same kind of ambition that people have today," says fashion retail pioneer Frank Benjamin, 74.
      532 words
    • Article
      Lock icon Raffles
      76 6 Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. A collection of luxury hotels, Raffles Hotels and Resorts distinguishes itself through the highest standards of hospitality, service and cuisine. Its hotels in Singapore, Beijing, Cambodia, Beverly Hills, Dubai and the Caribbean
      76 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK
      • Article
        Lock icon Singapore vies for biologies pie
        49 7 THE Republic is shaping up to be a fledgling biologies manufacturing hub, having bagged about US$2 billion worth of investments in the last four years. The investments will lead to six new plants, which when fully operational, will create more than 1,300 new jobs.
        49 words
      • Article
        Lock icon A-Team quits stockbroking for private equity
        36 7 BROKERS and cousins David Loh and Han Seng Juan have formally left the stockbroking business to focus on their boutique private equity business. Their trading licence lapsed on July 1.
        36 words
      • Article
        Lock icon Stamford leads with 40% of sponsored Catalist market
        51 7 SURVEY the Catalist sector and Stamford Corporate Services stands out easily with a 40 per cent share of the sponsor market. The firm could easily work for all Catalist companies if it wanted to, senior director and lawyer Lee Suet Fern told
        51 words
      • Article
        Lock icon India's populist budget punctures growth hopes
        79 7 INDIA said yesterday that its fiscal deficit would blow out to the biggest level in 16 years as it boosts spending to support the slowing economy, disappointing investors who dumped stocks and bonds. Few are convinced that growth will return anywhere close to the
        79 words
      • Article
        Lock icon Beng Seng gets the prancing horse with Ferrari deal
        54 7 ITAL Auto, a subsidiary of Komoco Motors, has been picked as the new importer of Ferrari in Singapore. Ital Auto was set up earlier this year by hotelier Ong Beng Seng and Metro Holdings group managing director Jopie Ong to bid
        54 words
      • Article
        Lock icon New KL index makes debut in tepid market
        41 7 MALAYSIA'S new 30-stock benchmark made its "soft" debut yesterday, trading in negative territory for most of the session before closing 0.64 per cent down as investors waited on the sidelines for fresh leads.
        41 words
      • Article, Illustration
        Lock icon MAS caps unsavoury saga with selling bans on 10 Fls
        83 7 A SEVEN-MONTH investigation into the manner in which Leh-man-linked products were mis-sold to unsuspecting, and often inexperienced, investors has concluded with some disturbing revelations and an unprecedented step. The Monetary Authority of Singapore has banned 10 financial institutions from selling
        FILE PHOTO  -  83 words
      • Article
        Lock icon Finally, the hiring resumes
        50 7 MORE employers here plan to add to their headcount in the next three months in anticipation of business picking up next year, a poll by recruitment firm Hudson has found. This is backed up by the Singapore National Employers' Federation which has conducted its own survey.
        50 words
      • Article
        Lock icon Banks' reputations bruised, but profits intact
        79 7 THE ban on selling structured notes is unlikely to hurt the earnings of the Singapore banks, but the damage to their reputations may take a while to repair. One reason is that the financial crisis that led to the collapse of Lehman Brothers and
        79 words
      • Article
        Lock icon Govt clears air over tax on property gains
        37 7 THE Ministry of Finance clarified on Thursday that the suggested change to income tax laws on gains from property sales is unlikely to lead to more individuals being taxed.
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      • Article
        Lock icon Mega deal puts Rotary Engineering in big league
        42 7 In a development that elevates it to the big league, mainboard-listed Rotary Engineering has won a whopping US$745 million contract to build a tank farm at the giant Jubail oil terminal in Saudi Arabia.
        42 words
      • Article
        Lock icon Sino-Env defaults on $149m bonds
        53 7 SINO-Environment Technology Group has defaulted on convertible bonds worth $149 million, sending its stock spiralling south after its morning trading halt was lifted. It dived as much as 28.6 per cent to 7.5 cents before ending the day 14.3 per cent or 1.5 cents down
        53 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      169 7 CRYPTIC CROSSWORD igS^t 011 a' ne j YESTERDAY'S SOLUTION fashion (6) I I Across: 1 Adorn, 4 Transfer, 8 Of- HH2^ fences, 9 Schooner, 11 Erratic, 13 exhibit (11) 18 Top drawer, 21 Drifter, 22 Out?Q Rpfrpchmpnt fnr rhi irrh plays, 24 Casanova, 25 Resident, 26 Li Refreshment tor cnurcn
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      105 7 NEXT WEEK July 13-17, 2009 US DATA July 13 Treasury Budget June July 14 Core PPI June, Retail Sales July 15 Core CPI June, Capacity Utilisation June, Industrial Production June, Business Inventories May, July 17 Building Permits June, Housing Starts June SINGAPORE DATA July 15 Retail sales, catering industry indices
      105 words
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  • THE CEO COLUMN
    • Article, Illustration
      Lock icon Bright skies ahead despite cloud of gloom
      946 8  -  Michael Tan FROM THE DESK OF Country manager Etihad Airways Singapore A global downturn has given a new entrant like Etihad Airways a "late advantage", as well as more time to build relationships with trade partners. HE skies hovering over the global avi-
      946 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Where creativity is a bread and butter issue
      1032 9  -  Rachel Sim CORPORATE FOCUS Breadtalk has made waves with its boutique concept and one-of-a-kind buns that are pieces of art. By GEORGE Quek's motto for Breadtalk is "Seek change, seek ideas, seek to differentiate". Now celebrating its ninth anniversary, the award-winning homegrown
      JOHN HENG  -  1,032 words
    • Article
      Lock icon Informatics Education auditor raises going concern issue
      265 9  -  Ong Boon Kiat By boonkiat@sph.com.sg Singapore THE auditor of Informatics Education has drawn attention to issues which may cast "significant doubt" about the group's and company's ability to continue as going concerns. Ernst Young LLP issued an unqualified audit opinion on the Singapore-listed
      265 words
    • Article
      Lock icon Sembcorp-led group in bank loan talks
      447 10  -  Ronnie Lim It's closing financing for a USslb water power project in Oman By ronnie@sph.com.sg Singapore A GROUP led by Sembcorp Industries is talking to banks about closing the financing for the US$l billion-plus Salalah independent water and power project (IWPP) in Oman. The
      447 words
    • Article
      Lock icon New 'Phone APPsperience'
      337 11  -  Li Dan Wei That's SingTel's way of engaging customers in queue for iPhone 3GS By danwei@sph.com.sg Singapore A YEAR on, SingTel's consumer chief remains confident that the new iPhone 3GS will continue to be the "Apple" of consumers' eye. Pre-orders for the new iPhone 3GS started at
      337 words
    • Article
      Lock icon Trading halt for Cacola
      159 11  -  Michelle Yeo By michyeo@sph.com.sg Singapore CACOLA Furniture International yesterday requested a trading halt of its shares following disclosure a day earlier that a subsidiary was under pressure to pay HK$2l.4 million (Ss4 million). On Thursday, the company said that its subsidiary, Cacola Holdings, had received a
      159 words
    • Article, Illustration
      Lock icon Property main feature in a ho-hum week
      558 12  -  R Sivanithy STOCKS sivan@sph.com.sg Senior correspondent THE fall then rise of the property sector was probably the most exciting feature of what was a relatively featureless and directionless week in the local stock market. Close watchers, though, would probably also have noticed the
      558 words
    • Article
      Lock icon TOP 20 ACTIVES
      118 12 VOL CLOSE Golden 101,889 31.5 -05 -1.6 FlesEdu 42,530 60 4.5 8.1 lemstar 38,571 0.5 11.1 27,321 339 -11.0 -3.1 iini ;Tel 22,830 316 -1.0 -0.3 total Ens 22,403 76 2.0 2.7 bolder -iR 22,081 15.5 -3.0 -162 lidas 20,436 78.5 0.0 0.0 jentins SP 19,420 69.5
      118 words
    • Article
      Lock icon TOP GAINERS
      57 12 CLOSE BY CENTS UP ICBC Bk 5.1%NCPS 100 9800 120.0 1.2 IBXTS&P Short 10US: 7100 75.9 0.7 IOB 5.05%NCPS 100 9890 60.0 0.6 ISH 1480 49.7 2.4 lardine C&C 1926 40.0 2/ iCBCCai >.1%NCPS 100 9570 40.0 0.4 IOB.ES.0907 1444 32.0 2.3 IBS.ES.0907 1168 24.0 2/ ;ia 200
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    • Article
      Lock icon TOP LOSERS
      42 12 CLOSEDOWN ;ld ious: 8978 -38.0 -0.3 iTXPO 100 1236 -28.0 -2.2 iGXMBLeCW*****1 53.5 -18.5 -25.7 iBNPeCW***** 29.5 -18.0 -37.9 China H 10US$ 1369 -14.6 -0.7 339 -11.0 -3.1 820 -11.0 -1.3 lultiChem 16 -10.5 -39.6 iLand 100 207 -9.0 -4.2
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    • Article
      Lock icon STI STOCKS
      104 12 litaLand 3.390 -0.110 iitaMall 1.400 +0.010 :if 8.200 -0.110 1.330 +0.010 :osco Corp 1.150 -0.020 IBS Gn 11.640 +0.100 :&N 3.640 +0.040 ienting SP 0.695 -0.010 iolden A; 0.315 -0.005 IK Land 3.330 +0.010 IMH 26.600 -0.040 ISH 14.800 +0.340 lardine C&C 19.260 +0.400 Corp 6.790 +0.080 IOL
      104 words
    • Business briefing
      • Article
        Lock icon NOL says rights issue oversubscribed
        64 12 NEPTUNE Orient lines said yesterday that its rights issue has been oversubscribed, based on initial tallies at the close of the issue on July 8, 2009. Acceptances and excess applications have been received for more than the total number of rights shares offered. The rights
        64 words
      • Article
        Lock icon HG Metal strikes 11 subscription deals
        60 12 STEEL stockist HG Metal Manufacturing has struck 11 separate subscription deals to issue a total of 225 million new shares worth $22.5 million to several investors. When completed, the subscription will increase the existing issued share capital of HG Metal from $89.5 million comprising
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      • Article
        Lock icon Cosco reschedules delivery of 8 vessels on request
        68 12 COSCO Corporation (Singapore) has announced the rescheduling of the delivery of eight vessels following requests from two European ship owners. The bulk carriers will now be delivered between Jan 3, 2011 and May 31, 2012 instead of between Sept 30, 2010 and
        68 words
      • Article
        Lock icon Eastgate gets nod to issue subscription, rights shares
        59 12 OPTICAL media solutions provider Eastgate Technology has received SGX-ST's in-principle approval to issue three billion subscription shares and up to 1.46 billion rights shares. In May, Eastgate said that the net proceeds of the subscription and a fully subscribed rights issue are
        59 words
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  • Page 10 Advertisements
    • Advertisement
      Lock icon Page 10 Advertisements Column 1
      2125 10 jllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllM II t> LottVision |I (Incorporated in Bermuda) I~\ d rJ^^Bil^^Bii^ I 111 Tii^B^JH IH 111 I d I l^^^B E NOTICE IS HEREBY GIVEN that the Annual General Meeting of LOTTVISION LIMITED (the "Company") will be held at Carlton Hotel, Esplanade Room 2, Level 4, 76 Bras Basah Road,
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  • Page 11 Advertisements
    • Advertisement
      Lock icon Page 11 Advertisements Column 1
      1957 11 %jt informatics INFORMATICS EDUCATION LTD (Incorporated in the Republic of Singapore) (Company Registration No: *****3419G) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-Sixth Annual General Meeting of Informatics Education Ltd. (the "Company") will be held at Mandarin Ballroom 111, Meritus Mandarin Singapore, 333 Orchard Road, Singapore
      1,957 words
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  • Page 12 Advertisements
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  • SINGAPORE
    • Article
      Lock icon Sembawang wins three major contracts in Libya
      322 13  -  Brandon Chew The deals, worth over USsl.2b, are for designing and building homes, hotels, resorts By brandonc@sph.com.sg SEMBAWANG Engineers and Constructors, one of South-east Asia's largest engineering and construction companies, has clinched its first deals in Libya. The company said yesterday that, through
      322 words
    • Article, Illustration
      Lock icon Layoffs slipped almost two-thirds in second quarter
      495 13  -  George Joseph By georgej@sph.com.sg AFTER 10,000 workers were axed from the unionised sector in the first quarter of this year, the number of layoffs fell almost two thirds in Q2, labour chief and Minister in the Prime Minister's Office lim Swee Say told
      495 words
    • Article, Illustration
      Lock icon BMW cars for Apec meetings
      141 13 A FLEET of 295 BMW 7 and 5 series cars was handed to the organising committee of the Asia-Pacific Economic Cooperation (Apec) meetings by BMW Asia yesterday. The 7 Series cars will be used during the Leaders Week segment of Apec Singapore 2009 in November.
      BMW  -  141 words
    • Article, Illustration
      Lock icon Tested – Mall operators here can handle terrorist threats
      555 14  - Tested Mall operators here can handle terrorist threats Zhang Vi Ting Capita Land, Frasers Centrepoint spell out their preparedness and SOPs By zyiting@sph.com.sg MALL operators in Singapore are well prepared to handle emergency outbreaks, including terrorist threats. The assessment comes in the wake of this week's Northstar VII anti-terror exercise,
      REUTERS  -  555 words
    • Article
      Lock icon Temp screening stops
      64 14 TEMPERATURE screening at border checkpoints will cease today. HINI flu has become endemic, and community spread in Singapore has rendered screening less useful than before. The Ministry of Health dropped contact tracing and home quarantine orders earlier this week, after the World Health Organisation said countries are
      64 words
  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      211 13 Q^NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF SYMBOL TECHNOLOGIES ASIA PTE. LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REG. NO. *****0434E NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting of the Member of the
      211 words
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  • Page 14 Advertisements
    • Advertisement
      Lock icon Page 14 Advertisements Column 1
      319 14 V#dL [k?rvTT/nr r< To"free: 180°-289-8822 Bj^_ IV 11 Email: notices@sph.com.sg _L^l \^y _L IV. -i 1 'il www.cats.com.sg INVESTMENT OPPORTUNITY SALE OF ASSETS BY RECEIVER AND MANAGER Offers are invited for the purchase of the following properties belonging to a company involved in hotel development, hotel operations and the development
      319 words
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  • LETTER FROM ABROAD WITH ASCOTT
    • Letter, Illustration
      Lock icon What happens in Vegas...
      813 15  - What happens in Vegas Jonathan Galaviz ner LETTER FROM LAS VEGAS Founding partner Globalysis We invite Singaporeans living overseas or posted abroad to write about life, culture and doing business where you are. Send your dispatch to btletter@sph.com.sg along with a photo of yourself, as well as any other relevant
      813 words
  • Page 15 Advertisements
    • Advertisement
      Lock icon Page 15 Advertisements Column 1
      239 15 NOW DEFINING GLOBAL LIVING IN CHINA SPECIAL 25-ANNIVERSARY Jf =VJ |JEI i TIISIT t a^terUS ■ft B we? I Ascott invites you to celebrate its 25th anniversary with special rates and ""^ltiS"?'!' 9M jSlp* promotions at our participating serviced residences in China. From the *"J O/ vWll H BWH Wttßk
      239 words
    • Advertisement
      Lock icon Page 15 Advertisements Column 2
      18 15 THE ASCOTT GROUP A Member of Capita Land This series is brought to you by The Ascott Group
      18 words
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  • WORLD
    • Article
      Lock icon BNY Mellon, Danamon face US$4b suit
      798 16 Reuters They are being sued in Indonesia by shareholders of a shrimp farm Jakarta BANK of New York Mellon and Indonesia's Bank Danamon are being sued for US$4 billion in Indonesia in a dispute between international bondholders and the owner of a shrimp firm,
      Reuters  -  798 words
    • Article, Illustration
      Lock icon Tourists – the worst and the best of them
      315 16 Tourists the worst and the best of them AFP Paris PENNY-pinching, rude and terrible at foreign languages: French people are the world's worst tourists and Japanese the best, according to a study of the global hotel industry. Carried out last month by TNS Infratest for the Expedia online travel agency,
      AFP  -  315 words
    • Briefing
      • Article
        Lock icon Citigroup changes CFO, second time in 4 months
        88 16 Bloomberg rk CITIGROUP Inc chief executive officer Vikram Pandit, struggling to stanch losses and appease government overseers following the bank's US$52 billion bailout, has changed the firm's chief financial officer for the second time in four months, elevating controller John Gerspach to
        Bloomberg  -  88 words
      • Article
        Lock icon Madoff will not appeal 150-year sentence
        69 16 AFP DISGRACED Wall Street financier Bernard Madoff, convicted of running the biggest financial fraud in US history, has decided not to appeal his 150-year prison sentence, his lawyer said on Thursday. Legal experts had said that an appeal would have been unlikely to achieve
        AFP  -  69 words
      • Article
        Lock icon Indian industrial production increases
        54 16 Bloomberg INDIA'S industrial production increased at the fastest pace in eight months as record-low interest rates and government stimulus measures helped revive demand and investment. Output at factories, utilities and mines jumped 2.7 per cent in May from a year earlier after a revised 1.2 per
        Bloomberg  -  54 words
      • Article
        Lock icon Tamiflu resistant swine flu detected in 3 regions
        74 16 Bloomberg ■k SWINE flu resistant to Roche Holding AG's antiviral drug Tamiflu has been detected in at least three world regions, raising concern that the pandemic virus is developing immunity to the medicine, health officials said. The drug-resistant cases "need to be
        Bloomberg  -  74 words
    • Article, Illustration
      Lock icon G-8 group may evolve into bigger entity
      709 17 LATWP, AFP Rising powers throw their weight around even though they are not formal members L'aquila, Italy IS it time to deep-six the Group of Eight? Before the elite economic club even finished its three-day summit here, participants were already jockeying over a
      LATWP, AFP; AP  -  709 words
    • Article
      Lock icon British politicians told to cut jargon
      197 17 Reuters Panel tells MPs that voters are tired of meaningless waffle London BRITISH politicians who speak in jargon about "core vales" and "stakeholder engagement" were told on Thursday that they are turning off the public. A panel of journalists and language experts warned MPs
      Reuters  -  197 words
    • Article
      Lock icon Rio staff bribed steel firm managers: China
      289 17 AP Beijing FOUR employees of miner Rio Tinto Ltd detained on spying charges are accused of bribing Chinese steel company managers to obtain secret information on China's position in talks on iron ore prices, state media said yesterday. The four employees were detained
      AP  -  289 words
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  • SGX
    • Article
      Lock icon Untitled
      2273 18 Transaction date: Jul 10 52-wks Tel ligh Low Code Company Last Sale Vol Day Last Quote COO0) High Low Buyer Seller Div GrYld Net C'vr P/E M Cap Smil I 3 3148 8Telecom I 2.5 5834 A-Sonic 14 12 5000 ABR Hldgs 4 5.5 1938 AEI Corp I 1 1100
      2,273 words
    • Article
      Lock icon Untitled
      3142 19 Transaction date: Jul 10 ligh Low Code Company Sale COO0) High Low Buyer Seller C'vr P/E Smil 19 10 2502 Del Monte 132 55 1957 DelongH 12 10 3143 DesignStudio 12.5 3.5 1523 Devotion 1670 ***** 6065 Diamonds 0.5 1035 Digiland 0.5 3 3412 DragonGp 12 6.5 1533 Dutech 6
      3,142 words
    • Article
      Lock icon Untitled
      3135 20 Transaction date: Jul 10 ligh Low Code Company Sale COO0) High Low Buyer Seller C'vr P/E Smil 19 18 1914 NamLee 23 17 18 5720 NeraTel 28.5 unch 4 2.5 5762 NeteLusion 8 10 10.5 3114 NewToyo 16.5 -0.5 16 3.5 3527 Nico Steel 8 _0 3 2309 Nippecraft 6
      3,135 words
    • Article
      Lock icon SGX CATALIST
      1564 21 High Low Code Company ligh Sale ('000) High Low Buyer Seller C'vr P/E Smil 9 5 1181 s AAGrp ?6.5 12 8538 t APStrategic 0.5 1501 s Advanced System '.5 2 3480 t Adventus !65 8.5 3518 s Afor 2.5 2 1524 t Alantac 6 3.5 7814 t
      1,564 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      95 21 Up Down Unch 5 7 1 Up Down Unch 0 0 0 Up Down Unch 5 7 1 lulti Ind lanufacturini 36 48 65 39 51 73 'ommerce 13 21 14 16 23 21 /Stor/ /Comms 10 14 11 10 14 11 :inance instruction 10 11 Tor
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      256 21 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      835 21 For week beginning Jul 6 Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per Shr$ SHAREHOLDING Before After ('000) ('000) Stock Trans Date Substantial Shareholder/ Director Buy Sell Cony No of Shares *000 Price Per Shr$ SHAREHOLDING Before After (*000) (*000)
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  • MARKETS
    • STOCK MARKETS
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        Lock icon Straits Times Index
        19 22 YTD change:+3l.o2% 52-week high: 2,997.82 on July 24,2008 52-week low: 1,455.47 on March 10,2009 Source: Bloomberg
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        Lock icon Hang Seng Index
        20 22 YTD change: +23.08% 52-week high: 23,369.00 on July 24,2008 52-week low: 10,676.20 on Oct 27,2008 Source: :Bloomberg
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        Lock icon Dow Jones Industrial Average
        25 22 YTD change:-6.76% 52-week high: 11,867.10 on Aug 11,2008 52-week low: 6,469.95 on March 6,2009 (Chart shows Thursday's index closing) Source: Bloomberg
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
        363 22 Jul9 dy yr dy yr dy yr Index Change Change Change Change Change Change World Index Preliminai 672.2 0.3 -0.8 0.5 2.1 0.7 0.8 EAFE Preliminai 642.5 0.0 -1.0 0.6 3.2 0.8 1.9 Euroi Preliminai 882.4 0.6 -3.2 1.1 2.0 1.3 0.7 Pacific 558.3 -1.1
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        145 22 jui ;o| :urrencies Bid >$/US$ to one unit of foreign currency: Australian dollar 1.1368 Offer Bid Offer 1.1387 0.7785 0.7790 :anadian dollar 1.2553 1.2568 0.8596 0.8598 iuro 2.0322 2.0345 1.3916 1.3919 IZ dollar 0.9159 0.9172 0.6272 0.6275 jterlini 2.3771 2.3798 1.6278 1.6281 IS dollar 1.4603 1.4617 >$/US$
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        Lock icon Shanghai Stock Exchange Composite
        21 22 YTD change: +71.02% 52-week high: 3,140.04 on July 9,2009 52-week low: 1,664.92 on Oct 28,2008 Source: Bloomberg
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        Lock icon Nikkei 225
        18 22 YTD change:+4.B3% 52-week high: 13,603.30 on July 24,2008 52-week low: 6,994.90 on Oct 28,2008 Source: Bloomberg
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      • Article
        Lock icon LIFFE
        71 22 Ju/sfll 1 (£/tonne) Close Prev Hi! Sh/Low Jul 09 1671 1634 1685/1605 SepO9 1700 1662 1719/1629 Dec 09 1706 1668 1725/1636 MariO 1703 1666 1720/1641 COFFEE (US$/tonne) Close Pev High/Low Jul 09 1339 1331 1340/1326 SepO9 1352 1343 1368/1337 Nov09 1375 1365 1390/1361 SUGAR (US tonne) White Close Prey
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        Lock icon CHICAGO BOT
        91 22 Jul iOYBEANS (5,000 bu min; USc/60 Ib bushels) Close Previous High/Low lul 09 111 0.*****4.*****5.*****3.00 \ugO9 1047.*****5.*****0.00 999.25 5epO9 973.00 943.50 974.25 941.25 \lov09 916.00 892.00 918.00 895.75 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low lul 09 32.58 32.08 32.66 32.28 \ugO9 32.73 32.25 32.89 32.42 5epO9 32.87
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        Lock icon OIL
        75 22 Jul ISS/barrel (FOB origin) Close Change Srent blend (1-Mth F) VTI (Near Mth) )ubai (1-Mth F) 'apis blend /linas 60.50 -1.01 60.36 0.21 61.54 -0.87 66.85 -0.90 63.30 -0.95 •RODUCT ISS/barrel (FOB S pore) Close Change \l aphtha let Kerosene 59.50 -0.95 68.85 -1.35 JSS/barrel )pec Oil Basket Price
        75 words
      • Article
        Lock icon METALS
        65 22 Jul ?o[ loz] ■long Kong 914.10 911.70 915.10 912.70 Jul 08 Jul 09 .ondon 911.30 912.20 912.10 913.20 Source: Thomson Reuters SILVER Selling Buying 'assbook 1 oz 19.05 18.81 Source: UOB >LATINUM/Lon (US$/oz) Jul 09 Close Previous 'M Fix 1108.*****0.00 iM Fix 1113.00 unch Source: Thomson Reuters M.ATINUM NYMEX
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        Lock icon PALM OIL
        61 22 Ju/iol lelivery fonth Opening Range Sett Price Av Price Law Vol Done Open Positioi Hi, Vug 09 2053 iep 09 2040 3ct 09 2039 tov 09 2051 "otal o/p: ***** contracts 2030 2063 2021 2010 2058 2002 2015 2057 2005 2028 2060 2015 Turnover: ***** lots Market tone:
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        Lock icon LONDON METALS
        67 22 Juoj Uumlnlum, 99.7? mrity (US$/tonne' Close Previous :ash months lopper, Grade A 1556.25 1585.00 1520.75 1550.00 ;us$/tonne) lash J months ■ead (US$/tonne; 4883.50 4895.00 4710.50 4725.00 :ash 1 months 1601.50 1625.00 1584.75 1610.00 lid /tonne; lose ■revious :ash months •in (US$/tonne; *****.00 *****.00 *****.01 *****.01 :ash 1 months
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Google's Microsoft ways
      738 23  -  DAVID LAZARUS LAT-WP There are questions we should ask ourselves when Google extends its tentacles By T FIRST glance, Google's latest plan for global domination sounds very cool. Everyone's favourite in-novate-or-die tech company is throwing its Mensa-level brainpower behind the development of a computer operating system to
      LAT-WP; REUTERS  -  738 words
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      Lock icon Ultra-thin is in
      835 23 AP TV manufacturers are hoping to recoup some of their lost margins by stressing a set's minuscule depth to consumers who are willing to pay New York LEE Richman installs high-end home theatre systems that can cost as much as US$l7O,OOO. Lately, he's noticed that some of
      AP  -  835 words
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Is there still trust in Reits?
        1583 24  -  Roger Tan Real estate investment trusts do look attractive in the long term at current prices, but investors must choose carefully and diversify their investments accordingly. By THE Singapore real estate investment trust (S-Reit) sector has grown remarkably since the first Reit Capita Mall
        1,583 words
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        Lock icon BROKERS' TAKE
        695 24  -  CONRAD TAN Offshore and marine sector Buying opportunities DBS Group Research, July 10 FEEDBACK from corporates at our seminar suggests that enquiries from their clients have returned. Wide credit spreads and high supply chain costs are bottlenecks that have limited contract awards to date. Valuations are again attractive
        695 words
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        Lock icon Think before picking up that bargain
        1500 25  -  Teh Hooi Ling SHOW ME THE MONEY When it comes to large acquisitions and huge outlays, the odds of such acquisitions succeeding are not great hooiling@sph.com.sg Senior correspondent SSETS are still relatively cheap compared with their pre-crisis levels. And companies with fat cash hoards
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      • Article
        Lock icon Current concerns may be overblown
        1449 26  -  Shane Oliver Shares are still cheap and attractive relative to low-yielding cash and bonds. By SHARES have notched up two consecutive years of big losses. After such a slump, the list of worries is long and the outlook is viewed with trepidation. The temptation is
        1,449 words
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        Lock icon Developers market London homes here
        731 29  -  Uma Shankari The large pool of expatriates and a well-travelled population make Spore a good location for launches, say agents By shankari@sph.com.sg Singapore DEVELOPERS are marketing London homes in Singapore. And by most accounts, they are not finding it difficult to find buyers. A few
        PHOTOS FROM SAVILLS  -  731 words
    • WEALTH REAL ESTATE
      • Article, Illustration
        Lock icon Hedge-Fund Industry 2.0 taking shape
        874 27  -  Matthew Lynn Bloomberg But even if it becomes huge like the Internet after the dot-corn crash, it'll be a completely new animal By HERE are signs of life returning to the hedge-fun d industry. Assets under management are rising. New funds are being launched. Some
        Bloomberg; • STOCK.XCHNG  -  874 words
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  • Page 26 Advertisements
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      283 26 _L^| V^/ X. _I-^^> 1 j kj Toll free: 1800-289-8822 Email: notices@sph.com.sg www.cats.com.sg in the matter of LBN (ASIA) INTERNATIONAL PTE LTD ALEXANDER HOWDEN FAR EAST PTE LTD companies act, cap 50 (Company Reg. No. (UEN) *****3775H) (Company Reg. No. (UEN) *****0548 C) semtec-syntech pte ltd i n Members Voluntary
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      143 27 A SATS W^ RECRUIT An established full-licensed foreign Bank invites application for: Head, Compliance Job Responsibilities: The incumbent will be responsible for the full compliance function pertaining to the Bank's policies and operational procedures. This includes compliance review, AML, CFT, compliance awareness training and updating management on developments in regulatory
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  • Page 28 Advertisements
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      501 28 Househunt PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) District 17 LANDED TanahMerahßesarLane 3-Sd 22/06/2009 FH 2535 1240 489 NON-LANDED BallotaPark Apt 19/06/2009 FH 1453 750 516 BallotaPark Apt 18/06/2009 FH 1313 730 556 FerrariaParkCdo Apt 17/06/2009 FH 646 410 635 FerrariaParkCdo Apt 22/06/2009 FH
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      Lock icon Page 28 Advertisements Column 2
      464 28 PROPERTYTRANSACTIONS FOR DISTRICTS 17T078 WITH CONTRACTDATES BETWEEN JUNE 17 AND.JUNE73.7OO9 PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) Signature Park Apt 22/06/2009 FH 1033 685 663* Signature Park Apt 17/06/2009 FH 1033 750 726 Springdale Apt 17/06/2009 999 1109 810 730 Summerhill Apt 18/06/2009 FH
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  • Page 30 Miscellaneous
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  • BT Living
    • DINING
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        Lock icon Old hands, new kitchens
        1711 31  -  Geoffrey Eu Three culinary veterans have taken the plunge, opening new restaurants in the midst of a difficult economic environment. By IN mid-1997, a year after self-taught chef Magdelene Tang made the switch from forex trader to restaurant owner, business at her restaurant Mag's Wine Kitchen
        1,711 words
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        Lock icon Cooking up a storm
        1120 32  -  Audrey Phoon Young local chefs are making headway in solo international competitions and they need support to compete on a world-class level. By FROM the centuries-old buildings that sway on pillars driven into the seabed to the public transportation system of boats that zigzag their way
        1,120 words
    • SHOPPING
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        Lock icon HIGH NOTES
        1463 33  -  Melissa Lwee Classic chic was the look of the day as couture designers stuck to what they did best. By ESPITE news of a recovering economy, the credit crunch continues to cast a pall over the world of fashion. And no, not even the (often) sheltered L ephemeral
        AFP, AP, REUTERS PHOTOS  -  1,463 words
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        Lock icon Shopping for health
        501 35  -  Corinne Kerk Orchard Road is home to many healthcare providers offering everything from botox to eye care. By ORCHARD Road is best known as a shopping haven, but amid the shoppers and diners are a growing number of people looking for something different not the latest pair
        501 words
      • Article, Illustration
        Lock icon pick of the orchard
        495 35 What's new and hot at Orchard Road Something to feast your eyes on TOKAI has had its eye on the future since it produced its first ophthalmic lens in 1939. By introducing neuroscience technology into their Progressive Lens Design, Tokai creates comfortable lenses with various cosmetic
        495 words
    • GADGETS
      • Article, Illustration
        Lock icon Time to trade in and up?
        954 34  -  Christopher Lim The latest version of Apple's wonder phone is an especially compelling choice for new users. By IF you've thought about buying a mobile phone in the past year, it's likely that you've considered an Apple iPhone at some point. No wonder, since
        954 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Reconstructing the old
        1090 36  -  Geoffrey Eu personal space One homeowner gave his *****-era childhood home in a quiet Upper Bukit Timah neighbourhood a brand new lease of life by transforming it into an abode for modern living. By HO says you can't go home again? The old adage about not being
        PHOTOS BY YEN MENG JIIN  -  1,090 words
    • TRAVEL
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        Lock icon The last frontier
        1468 37  -  Cheah Ui-Hoon You could well imagine Genghis Khan galloping through the Asian steppes and surveying his mighty Mongol empire. Time seems to stand still in this vast region largely untouched by modern civilisation. By aOOK at how clear the clouds are here you can even see the
        PHOTOS BY CHEAH UI-HOON  -  1,468 words
    • WEEKEND WITH
      • Article, Illustration
        Lock icon Unassuming shuttler
        888 38  -  Cheah Ui-Hoon Aviva's CEO, though sporty by nature, credits his dad for instilling in him a love for badminton. By I WEEKEND I WITH SHAUN MEADOWS CEO IN SINGAPORE, HONG KONG AND THE MIDDLE EAST, AVIVA LITTLE did Shaun Meadows know that when he started playing badminton at
        YEN MENG JIIN  -  888 words
    • HEALTH
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        Lock icon That floating feeling
        934 39  -  Cheah Ui-Hoon Lying in a tank of salted water can do wonders for mind and body. By YOU know the saying "Let your troubles float away"? It might sound like a song lyric or some other pithy statement but some therapists think it can be done literally.
        JOHN HENG  -  934 words
    • SPORT
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        Lock icon So close, yet so far
        699 40  -  Uma Shankari no holds barred shankari@sph.com.sg Correspondent THINKING back, I really have no idea what made me embark on a quest to scale Mount Kinabalu, which at 4,095 metres is the highest mountain in South-east Asia. Perhaps it was the mountain's height? Mount Kinabalu, in
        YAHYA A RAHIM  -  699 words
    • GOLF
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        Lock icon Champs and rookies prep for the Open
        1186 41  -  Justine Moss Asian Tour players get ready to battle the world's best By AFTER missing out on last year's Open Championship due to reconstructive knee surgery, world number one Tiger Woods will be looking to add a fourth claret jug and 14th major
        PAUL LAKATOS/ASIAN TOUR  -  1,186 words
    • MOTORING
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        Lock icon GET THE DRIFT
        444 42  -  Samuel Ec A Toyota showed the way when it beat a field of mainly Nissans at the Formula Drift ProAm last weekend. By WO-THIRDS of the field were at the wheel of a Nissan but it was an iconic Toyota that fishtailed its way to the top
        444 words
      • Article, Illustration
        Lock icon The politics of F1
        436 43  -  Samuel Ec fl watch If Bernie Ecclestone thought that expressing his admiration for Hitler would get him a warmer welcome to the Fatherland this weekend. how wrong he was. By HOW appropriate that Fl supremo Bernie Ecclestone praised Hitler going into this weekend's German Grand Prix.
        436 words
      • Article, Illustration
        Lock icon New cat on the prowl
        438 44  -  Samuel Ec The all-new Jaguar XJ, reinterpreted for the 21st century, is a stunning affair. By HAIL the new XJ. Jaguar has finally unveiled its all-new flagship model and there is no doubt that this modern interpretation of the classic Jag saloon is stunning. With
        438 words
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      903 32 wineldine with BTWeekend Pine Court Chinese Restaurant dinner at Peach Blossoms, located on Level 35 Orchard Wing Level 5 of Marina Mandarin Singapore. For Meritus Mandarin Singapore reservations, please call 6845-1111 333 Orchard Road, 6831-6262/88 Experience refreshing interpretations of Cantonese cuisine coupled with culinary Pan Pacific Singapore mastery at Pine
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