The Business Times, 6 March 2010

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Microfilm: NL30612
Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg MARCH 6-7, 2010 S$1.00 MICA (P) 124/08/2009
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  • Article, Illustration
    Lock icon HDB revises policies to stamp out speculation
    1180 1  -  By Uma Shankari shankari@sph.com.sg Singapore THE Housing Development Board (HDB) yesterday unveiled policy changes designed to hurt speculators and make it more expensive for non-Singaporeans to buy govern-ment-subsidised flats. The Board also agreed to make a much campaigned-for change: it will now allow
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  • Article
    Lock icon GIC sitting on UBS paper loss
    47 1 share conversion FOLLOWING the conversion of its UBS mandatory convertible notes, the Singapore investment agency’s investment in the Swiss bank is worth just 3.72 billion francs, or about 7.28 billion francs less than its original investment of 11 billion francs. 2
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  • Article
    Lock icon Real brick and mortar war rages silently
    1125 1  -  ‘Precast’ may be the magic bullet but the construction sector is dodging it. Why? By Joyce Hooi joyceh@sph.com.sg Singapore AS “levy” rapidly became the new four-letter word among the 10,000-odd construction firms in Singapore this week, others were looking past the simplicity of
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  • Article
    Lock icon Fewer US jobs lost than expected
    42 1 uplifting data AMERICAN employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7 per cent, bolstering views that the labour market was on the brink of creating jobs. 4
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      91 1 the IN STYLE Fashion in essence L6-7 SHOW ME THE MONEY Trust, audit and accounts 33 the raffles conversation JOHN HENNESSY, PRESIDENT OF STANFORD UNIVERSITY 8-9 LIVING Four women in fashion ■v: ■it:' w: i *5 I f V' '"•iiHHin* 4 JUL wi/n Iv Depuis 1775 www.breguet.com Breguet Boutique 328
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  • TOP STORIES
    • Article
      Lock icon GIC sitting on 5b Swiss franc paper loss in UBS
      558 2  -  By contrast, GIC’s remaining stake in Citi shows a paper profit of US$500m By Conrad Tan conradt@sph.com.sg Singapore THE Government of Singapore Investment Corp’s (GIC) 11 billion Swiss franc investment in UBS bonds is showing a paper loss of over
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    • Article
      Lock icon RWS prepared for hiccups at Universal Studios’ soft opening
      701 2  -  By Arthur Sim simska@sph.com.sg Singapore RESORTS World Sentosa (RWS) has announced that Universal Studios Singapore (USS) will have its soft opening on March 18. However, it is not clear how many attractions will be operational by that time. In a statement
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    • Article
      Lock icon MARKETS
      135 2 STI 2,790.29 (+21.59) STI FUTURES 2,786.00 (+21.00) SIMSCI 333.48 (+2.62) SIMSCI FUTURES 334.40 (+3.60) STOCKS Friday Change KL COMP 1,299.78 +15.69 NIKKEI 225 10,368.96 +223.24 HANG SENG 20,787.97 +212.19 SET 723.96 -6.86 JAKARTA 2,578.77 +13.13 MANILA 3,034.13 -35.16 KOSPI 1,634.57 +16.37 SHENZHEN B 612.09 +4.63 MUMBAI IND 16,994.49 +22.79
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    • Article
      Lock icon S’pore Inc backs Prudential bid
      533 4  -  GIC, DBS and UOB among consortium of underwriters for US$21b rights issue By Siow Li Sen lisen@sph.com.sg Singapore SINGAPORE INC has decided to back Prudential’s ambitious bid tocreateAsia’s largestinsurer,reflecting its confidence in the region. The Government of Singapore Investment Corporation Pte Ltd (GIC) and banks
      533 words
    • Article
      Lock icon Fewer jobs lost than expected; analysts optimistic
      338 4 latest us data| Reuters Washington US EMPLOYERS cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7 per cent, bolstering views that the labour market was on the brink of creating jobs. The Labor Department said yesterday
      Reuters  -  338 words
    • Article, Illustration
      Lock icon Philanthropy heroes not necessarily the biggest givers
      522 6  -  By Teh Shi Ning tshining@sph.com.sg Singapore FORMER Singapore Exchange chief executive Hsieh Fu Hua, entrepreneur Elim Chew, Lee Foundation chairman Lee Seng Gee and Lien Foundation chairman Laurence Lien are the four Singaporeans who made Forbes Asia’s list of Asia-Pacific philanthropy “heroes” this
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    • Article, Illustration
      Lock icon Average CPFIS fund yields solid 1-year returns
      340 6  -  But over the longer holding of 3 years, the average fund remains in the red By Genevieve Cua gen@sph.com.sg Singapore PEOPLE who have invested their CPF savings can heave a sigh of relief the average fund in the CPF Investment Scheme put up
      Source: Lipper for Investment Management (LIM)  -  340 words
    • Article
      Lock icon Women more resilient than men, says survey
      418 6  -  By Lee U-Wen leeuwen@sph.com.sg Singapore WHEN it comes to dealing with corporate challenges especially in the aftermath of the global financial meltdown the key attribute that all leaders must have is resilience. And women are perceived to be more resilient than men, according
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      40 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35
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      Lock icon Page 2 Advertisements Column 2
      22 2 LIVING Shopping L2-5 Style L6-7 Dining L8-10 Gadgets L11 Home Garden L12-13 Travel L14 ClipperRace L15 Sport L16 Golf L17 Motoring L18-20
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      94 3 Comfortably Ever After Serta t PROUDLY SENTS BYSE R USA WE MAKE THE WORLD'S BEST MATTRESS.™ ANG i > i m Fully imported from USA >> Created in collaboration with world-renowned fashion designer Vera Wang, this new mattress embodies a deep appreciation for style, comfort and unwavering commitment to craftmanship.
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  • Page 5 Advertisements
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      86 5 a t I 4 j^p emirates.com/sg Unforgettable 2010 FIFA World Cup™ packages. Customise your journey to South Africa. Every four years the world unites to celebrate the FIFA World Cup™. Share in the experience wirh Emirates' special packages that include flights, accommodation, game tickets and transfers to and from rhe
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | March 1-5, 2010
      • Article
        Lock icon Turning old CBD offices into prime new homes
        63 7 SOME one million square feet of office space in the Central Business District is likely to be converted into private homes over the next three years. Property analysts say that with the Marina Bay financial district now taking shape, developers are looking
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      • Article
        Lock icon Look into creating a new reserve currency: IMF chief
        60 7 THE head of the International Monetary Fund says that it would be “intellectuallyhealthy to explore” a new global reserve currency to reduce dependence on the US dollar. The governor of China’s central bank made a similar proposal last year, arguing that
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      • Article
        Lock icon Prudential snaps up AIG unit for US$35.5b
        60 7 PRUDENTIAL will acquire the American International Group’s life insurance business in Asia for US$35.5 billion, signalling its intention to expand in the region where growth of the wealth and insurance markets is expected to outstrip the global pace. Prudential will pay US$25 billion
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      • Article
        Lock icon Brokers fight for the right to contra trade
        32 7 ANY attempt to remove contra trading will be resisted by brokerages, which have recently had informal chats on the subject with the Singapore Exchange.
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      • Article
        Lock icon Egypt delegation here to woo local investors
        38 7 A HIGH-LEVEL delegation from Egypt will be in Singapore this week to showcase the country as a key destination for investors seeking opportunities in the vast, largely untapped market of Africa.
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      • Article
        Lock icon Big boys go looking for swank, new offices
        48 7 THE upswing in office leasing deals that started around July last year shows no signs of letting up. The healthy demand has persuaded some property consultants that rents for the best quality space in the financial district could perk up.
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      • Article
        Lock icon Asian banks courted to underwrite Prudential deal
        37 7 ASIAN banks are being courted to help underwrite Prudential’s purchase of AIA. DBS Group Holdings has already been invited to join the underwriting syndicate for the US$20 billion rights issue.
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      • Article
        Lock icon Australia hikes interest rate as economy picks up
        49 7 AUSTRALIA’S central bank raised interest rates on Tuesday, saying that the economy is strong enough to withstand any impact from global investor concerns on sover-eign-debt risks. The benchmark overnight cash rate target rose to 4 per cent from 3.75 per cent.
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      • Article
        Lock icon Businesses to lead push for productivity
        47 7 DEPUTY Prime Minister Teo Chee Hean has made it clear that the lead inSingapore’s productivity dynamic would have to come from the enterprises themselves. And the newly set up National Productivity and Continuing Education Council will be there to provide support.
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      • Article, Illustration
        Lock icon MR TEO
        22 7 Makes it clear that the lead in Singapore’s productivity dynamic would have to come from the enterprises themselves FILE PHOTO
        FILE PHOTO  -  22 words
      • Article
        Lock icon Law firms hike salaries, slice bonuses
        35 7 SINGAPORE’S largest law firms have upped the monthly salaries of their lawyers significantly, bracing themselves for competition from foreign law firms, amid the liberalisation of the legal industry here.
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      • Article
        Lock icon Sundaresh Menon to be new AG
        30 7 FORMER judicial commissioner Sundaresh Menon will become the new Attorney-General come October. He succeeds Walter Woon, who has decided to resume his teaching appointment.
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      • Article
        Lock icon Growth-seekers to get pick of the goodies
        37 7 FINANCE Minister Tharman Shanmugaratnam on Thursday announced refinements to the Productivity and Innovation credit scheme while he spelt out how Budget 2010 was fundamentally different from last year’s Resilience Package.
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      • Article
        Lock icon Buangkok site attracts highest-ever EC bid
        60 7 A 99-YEAR leasehold executive condominium site near Buangkok MRT Station has fetched the highest ever bid for an EC site. The top bid of $193.28 million or about $315 per square foot per plot ratio surpassed the previous record of $220 psf ppr for
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    • NEXT WEEK March 8-12
      • Article
        Lock icon US DATA
        27 7 March 10 Jan wholesale inventories March 11 Continuing claims Initial claims Jan trade balance March 12 Feb retail sales March Michigan sentiment Jan business inventories
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      • Article
        Lock icon SINGAPORE DATA
        7 7 March 8 Feb international reserves
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      • Article
        Lock icon EVENTS
        56 7 March 8 FINAL day of Global Economy Meeting (GEM) of central bank heads from leading industrial and emerging economies, held at the Bank for International Settlements at Basel National Association for Business Economics 2010 Economic Policy conference at Arlington, Virginia March 10 Economist Group hosts 5th Japan CFO Roundtable
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  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      326 7 CRYPTIC CROSSWORD Across 1 Written evidence leads to convictions (6) 4 Incline to wither in general (8) 9 Used an odd dessert dish (6) 10 Reliable account given by priest (8) 12 Fence the track (4) 13 Go round twice at speed (5) 14 Highlight of the Cresta Run (4)
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      11 7 SATURDAY with Ludwig ‘Management has decided to improve our customer service...’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Valley visionary
      2453 8/9  -  h Stanford President John Hennessy sheds light on the university’s role in doing research for the public good. By Anna Teo By Anna Teo anna@sph.com.sg JOHN Hennessy looks to the day when, as he walks along a street, the tiny chip embedded in the corner of his eyeglasses
      YEN MENG JIIN  -  2,453 words
  • Page 8/9 Advertisements
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      70 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.
      70 words
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  • COMPANIES
    • Article, Illustration
      Lock icon CEO Pun has big dreams for Myanmar’s Yoma
      1005 10  -  Man behind multi-business group seeks to turn it into a conduit for foreign investors. By Joyce Hooi corporate focus| By Joyce Hooi joyceh@sph.com.sg YOMA Strategic Holdings Ltd must be at the best of times–abewildering investment for its shareholders. Listed for more than
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    • Article
      Lock icon Jardine Strategic to buy back 13.9m shares
      540 11  -  The company and Jardine Matheson Group more than double their profits for 2009 By Jamie Lee leejamie@sph.com.sg Singapore JARDINE Strategic Holdings is looking to purchase 13.9 million of its shares for up to US$250 million. Under a share buyback tender, the auto distribution
      540 words
    • Article, Illustration
      Lock icon Ex-British army homes may become S’pore hedge-fund hub
      618 11 Bloomberg Singapore SINGAPORE is planning to create its own hedge-fund capital modelled after Greenwich, Connecticut, in a cluster of ex-British army homes called Nepal Hill, a 15minute cab-ride from the city-state’s main banking district. The Monetary Authority of Singapore and JTC Corp
      Bloomberg; BLOOMBERG  -  618 words
    • Article
      Lock icon IndoAgri to double new oil palm planting this year
      328 11 Reuters Jakarta SINGAPORE-listed Indofood Agri Resources Ltd (IndoAgri) expects to more than double its new oil palm plantings in 2010, as part of US$200 million of capital spending slated for this year, its chief executive said yesterday. A number of palm
      Reuters  -  328 words
    • Article, Illustration
      Lock icon FJ Benjamin opens flagship Bell & Ross boutique
      594 13  - FJ Benjamin opens flagship Bell Ross boutique Three more stores are on the drawing board for other parts of Asia By Chuang Peck Ming peckming@sph.com.sg Singapore FASHION retailer and distributor FJ Benjamin has opened the world's first Bell Ross watch boutique in Singapore and it has three more on the
      YEN MENG JIIN  -  594 words
    • Article, Illustration
      Lock icon Buying ahead of a push on Wall Street?
      581 14  -  stocks| R Sivanithy sivan@sph.com.sg Senior correspondent IT wasn’t a particularly notable week by any standard. Other than GentingSingapore’svolatility and the rotational punting of penny stocks, there wasn’t much to distinguish the five days that have just passed from the many that preceded
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    • Article, Illustration
      Lock icon 25 from OCBC cycle from KL to S’pore for charity
      323 14  -  By Arthur Lee arthurl@sph.com.sg Singapore A PASSION for helping the needy has driven 25 OCBC Bank employees to cycle from Kuala Lumpur to Singapore to participatein this weekend’sOCBCCycle Singapore 2010. The 35-hour, 400-km road trip raised about RM 130,000 (S$54,000)
      ARTHUR LEE  -  323 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 14 VOL CLOSE GentingSP 251,631 90.5 6.0 7.1 GoldenAgri 44,759 54.5 1.0 1.9 ChinaHongxing 31,316 14 -1.0 -6.7 SwingMedia 30,245 6 -0.5 -7.7 PacAndes 23,343 33.5 1.0 3.1 Jackspeed 22,437 8.5 -1.0 -10.5 OttoMarine 21,036 46 0.0 0.0 Biosensors 19,748 85.5 2.0 2.4 BanJoo 19,325 4 0.5 14.3
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    • Article
      Lock icon STI STOCKS
      112 14 Stock name Close Change CapitaLand 3.900 +0.010 CapitaMall 1.810 +0.020 CityDev 10.360 +0.100 ComfortDelGro 1.540 Cosco Corp 1.210 +0.050 DBS Grp 14.060 -0.020 F&N 4.440 +0.090 Genting SP 0.905 +0.060 Golden Agri 0.545 +0.010 HK Land 4.800 +0.020 JMH 29.000 -0.580 JSH 17.080 -0.120 Jardine C&C 25.520 +0.680
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    • Article
      Lock icon TOP GAINERS
      60 14 BY CENTS CLOSE UP DBXT MSKorea 10US$ 4630 114.9 1.8 STXPO 100 1530 88.0 6.1 DBXT FTVietnam 10US$ 4424 70.1 1.1 Jardine C&C 2552 68.0 2.7 SIA 1590 66.0 4.3 SIA.ES.1003 1584 64.0 4.2 SIA 200 1578 56.0 3.7 DBXT MSEurope 10US$ 4120 53.2 0.9 DBXT MSTaiwan 10US$
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    • Article
      Lock icon TOP LOSERS
      57 14 BY CENTS CLOSEDOWN JMH 2900 -81.3 -2.0 DBXT S&P Short 10US$ 5319 -51.8 -0.7 OCBC Bk 5.1%NCPS 100 ***** -20.0 -0.2 UOB 1786 -20.0 -1.1 JSH 1708 -16.8 -0.7 UOB.ES.1003 1794 -16.0 -0.9 GLD 10US$ ***** -8.4 -0.1 Haw Par Corp 590 -7.0 -1.2 UOB RB eCW*****9 16
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    • Article
      Lock icon Cosco unit agrees to defer deliveries
      166 14 Singapore SHIPBUILDER Cosco Corporation (Singapore) announced yesterday that its subsidiary, Cosco (Zhoushan) Shipyard, has agreed to reschedule the delivery dates of four 57,000 dwt bulk carriers that were contracted by a European shipowner. The vessels will be delivered between 18 and 19 months after
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      Lock icon Page 11 Advertisements Column 1
      71 11 KnightFrank.com.sg m no) 1 1* ORCHARD MEDICAL SPECIALISTS CENTRE (Phase 2 For Sale and Lease) •Prime location next to Mt Elizabeth Hospital •Ready for immediate occupation Sizes range from 581 sf to 2,056 sf No restriction to foreign ownership Water supply points floor traps available VISIT SHOW UNIT f 0
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      Lock icon Page 13 Advertisements Column 1
      58 13 ATTENTION CALLING ALL TOYOTA OWNERS! Are your vehicle affected by recall and don't know who to look for? Call us for a non-obligatory check and be kept in the loop! For you and your family safety! Call us 8290 0070 during office hours. iLe<ZO CARS FINANCE INSURANCE For you and
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Two ways to manage innovation
      977 15 Innovation can be difficult to initiate and maintain within a mature organisation, but effectively managing it has become one of the best ways of differentiating a company from the desk of MOST companies strive to be both operationally efficient and innovative. Companies that balance both
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  • SINGAPORE
    • Article, Illustration
      Lock icon Private sector key ally in terror fight: Kan Seng
      447 16  -  Home Team resources must be allocated to combat crime, not to do pest control like catching snakes: Shanmugam yesterday in parliament| By Chen Huifen xuifen@sph.com.sg EVEN as security agencies constantly seek out new technologies to strengthen surveillance and security levels in
      FILE PHOTO  -  447 words
    • Article, Illustration
      Lock icon NSmen to get more allowances for annual in-camp training call-ups
      492 16  -  By Lee U-Wen leeuwen@sph.com.sg FROM this April, national servicemen will receive at least 5 per cent more in rank allowances for their annual in-camp training (ICT) call-ups, Minister of State for Defence Koo Tsai Kee told Parliament. They will also
      492 words
    • Article
      Lock icon STB expects higher visitor arrivals this year
      477 17  -  Target for tourism receipts is 41-49% higher than the $12.4 billion chalked up in 2009 By Nisha Ramchandani nishar@sph.com.sg THE Singapore Tourism Board (STB) is projecting to see 11.5-12.5 million in visitor arrivals and rake in $17.5-$18.5 billion in tourism receipts in 2010,
      477 words
    • Article, Illustration
      Lock icon Asian Kitchen in tie-up to tap Japan efficiency
      512 17  -  By Abigail Kor abigailk@sph.com.sg IN line with calls for higher productivity and less reliance on foreign workers, The Asian Kitchen Food Company has confirmed a partnership with Nippon Restaurant System (NRS) under which it can adopt the latter’s efficient operating system to
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    • Singapore roundup
    • Article, Illustration
      Lock icon S’pore infocomm employment up 1.3% in 2009
      455 18  -  SCS awards for four who have contributed significantly to Singapore’s ICT landscape By Ong Boon Kiat boonkiat@sph.com.sg SINGAPORE’S infocomm sector stayed bright last year despite the economic dark clouds. Employment in the sector rose 1.3 per cent to 140,800 in June 2009, from
      FILE PHOTO  -  455 words
    • Article, Illustration
      Lock icon Citi appoints new head of credit payment products
      197 18 CITIBANK Singapore has appointed Han Kwee Juan as head of credit payment products, replacing John Denhof, who moved to Turkey late last year to become Citigroup’s head of consumer business there. Mr Han was previously managing director and head of global transaction
      197 words
    • Article
      Lock icon Better card security to cut identity theft
      517 18  -  By Felda Chay feldac@sph.com.sg THE Association of Banks in Singapore (ABS) yesterday unveiled measures to tighten the security of card transactions to reduce identity theft. The initiatives affect all credit, debit and prepaid cards issued in Singapore. They range from measures to prevent
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  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      707 16 WAT-ci NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 WATERVALE PTE LTD (COMPANY NO. *****1533G) (In Member's Voluntary Liquidation) At an Extraordinary General Meeting of the Sole Member of the abovenamea Company duly convened and held at 15 Enggor Street, #08-04 Realty Centre, Singapore *****6 on Friday, 5th
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  • WORLD
    • Article, Illustration
      Lock icon Temasek might sell Shin stake if buyer emerges
      589 19  -  Shin Corp exec chairman says Temasek never indicated that it wanted to hold investment forever By Lee U-Wen leeuwen@sph.com.sg Singapore TEMASEK Holdings could divest its stake in Shin Corp if the right buyer comes along, said the Thai telecommunications giant’s executive chairman
      BLOOMBERG  -  589 words
    • Article
      Lock icon House passes bill to spur jobs creation
      310 19 NYT Washington THE House on Thursday approved a US$15 billion measure intended to spur job creation by granting tax breaks to businesses that hire workers, as Democrats, bracing for new jobless figures, tried to show that Congress was doing something about stubborn unemployment.
      NYT  -  310 words
    • Article
      Lock icon MetLife near US$15b deal for AIG unit
      196 19 Bloomberg New York METLIFE Inc, the biggest US life insurer, may reach an agreement as early as this weekend to buy a unit of American International Group (AIG) after a tax decision cleared the way for the deal, said a person with knowledge
      Bloomberg  -  196 words
    • Article
      Lock icon Indian firm offers handset with AAA battery power
      209 20 AFP New Delhi AN Indian mobile phone company has launched a low-cost handset that uses commonly available AAAsized batteries aimed at the hundreds of millions of people who live in areas where power supplies are erratic. Priced at 1,699 rupees (S$52), Olive
      AFP  -  209 words
    • Article
      Lock icon Analysts see more rate hikes and stronger ringgit
      507 20  -  Given the interest rate backdrop, M’sian banks’ earnings appear set to grow By S Jayasankaran btworld@sph.com.sg Kuala Lumpur BANK Negara Malaysia’s 25 basispoint increase in its overnight policy rate has set the stage for further interest rate rises and a firmer ringgit,
      507 words
    • Article, Illustration
      Lock icon Malaysia pursues new economic model
      495 20  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIANS must be prepared to adapt to the challenges of globalisation and the initial hardships this will involve because the government intends to pursue a new economic framework that emphasises greater competitiveness, Second Finance minister Ahmad Husni Hanadzlah said
      THE STAR  -  495 words
    • Article, Illustration
      Lock icon Big money a thing of the past for top stars
      753 21 Even best-film nominees’ actors get minuscule upfront fee NYT Los Angeles MOVIE stars, who not so long ago vied to make US$20 million or even US$25 million a picture, have seen their upfront salaries shrink in the last several years
      NYT; PHOTOS: REUTERS  -  753 words
    • Article
      Lock icon Luxembourg court blocks claims from Madoff investors
      324 21 Reuters Luxembourg A COURT ruling on Thursday is likely to mean UBS avoids direct compensation claims from investors who lost money to fraudster Bernard Madoff in a fund the Swiss bank had set up. It may also save HSBC from similar suits. The
      Reuters  -  324 words
    • Article, Illustration
      Lock icon China eyes 8% growth; vows to fight inflation
      595 22  -  But it also says it would stick to loose monetary and fiscal policies By Malminderjit Singh msingh@sph.com.sg Singapore IN an annual report on the opening day of Chinese parliament yesterday, Premier Wen Jiabao announced an economic growth target of 8 per cent
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    • Article
      Lock icon Shanghai leaves Hong Kong behind in size of the economy in ’09
      528 22 Bloomberg Hong Kong SHANGHAI’S economy exceeded the size of Hong Kong’s for the first time in at least three decades after stimulus spending helped China skirt the global crisis and lead the world out of recession. Shanghai’s gross
      Bloomberg  -  528 words
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      120 21 Get your copy from any Spinelli outlet at $5.50 and get a complimentary Spin or Latte! March Pulses Out Now! Check out how four Singapore companies market their popular F&B products overseas. Wilmar International gives investors a glimpse into the agri-business value chain. Is recovery on the horizon for airlines?
      120 words
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  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
      25 22 4-&U. Lianhe Zaobao Ferrell Group may become first S'pore firm to launch IPO in Taiwan n m-T l SiMtt&tt For Subscription, call 6388 3838 www.sphsubscription.com.sg
      25 words
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  • SGX
    • Article
      Lock icon Transaction date: Mar 5
      9054 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 3 3148 8Telecom 16.5 unch 200 16.5 16.5 16.5 17 1.7 11 5.3 79 10 2.5 5834 A-Sonic 6.5 unch
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    • Article
      Lock icon SGX CATALIST
      1839 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 5.5 5 5.5 30.6 5.3 25 12 8538 t APStrategic 15.5 13 15 91.5 4 0.5 1501
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 5 6 0 0 0 7 5 6 Manufacturing 69 42 76 8 1 17 77 43 93 Commerce 28 12 27 4 3 7 32 15 34 Tpt/Stor/Comms 26 3 11
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      840 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Mar 1 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Tee Intl Ltd 3-Mar-10 Bertie Cheng Shao Shiong Buy 1000 na 800 1.14 1800 2.56 Silverlake Axis
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,731 13,731 48,592 48,592 Manufacturing 349,698 10,003 359,701 203,856 589 204,444 Commerce 104,360 7,002 111,362 109,608 2,447 112,055 Tpt/Stor/Comms 122,561 427 122,988 217,280 85 217,365 Finance 24,401 24,401 255,963 255,963 Construction 34,847 2,053 36,900 10,340
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  • MARKETS
    • Article, Illustration
      Lock icon STOCK MARKETS
      91 27 YTD change: -3.70% 52-week high: 2,947.08 on Jan 11,2010 52-week low: 1,455.47 on March 10,2009 Source: Bloomberg YTD change: -4.96% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 11,344.50 on March 9,2009 Source: Bloomberg YTD change: -7.51% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 2,086.02 on March
      Source: Bloomberg  -  91 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      365 27 In local curr In S$ In US$ dy yr dy yr dy yr Mar 4 Index Change Change Change Change Change Change World Index Preliminary 831.0 -0.1 -0.2 -0.3 -1.6 -0.3 -1.3 ‡EAFE Preliminary 778.1 -0.2 -0.9 -0.7 -3.6 -0.7 -3.3 Europe Preliminary 1121.1 -0.1
      365 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Mar 5 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2636 1.2650 0.9019 0.9020 Canadian dollar 1.3576 1.3598 0.9690 0.9696 Euro 1.9041 1.9064 1.3591 1.3594 NZ dollar 0.9663 0.9679 0.6897 0.6902 Sterling pound 2.1053 2.1082 1.5027 1.5033
      154 words
    • Article
      Lock icon LIFFE
      77 27 Mar 4 COCOA (£/tonne) Close Prev High/Low Mar 10 2142 2125 2157/2120 May 10 2162 2145 2178/2140 Jul 10 2152 2138 2164/2132 Sep 10 2130 2115 2139/2112 COFFEE (US$/tonne) Close Pev High/Low Mar 10 1210 1254 1240/1217 May 10 1249 1284 1283/1244 Jul 10 1283 1318 1318/1280 SUGAR (US
      77 words
    • Article
      Lock icon CHICAGO BOT
      105 27 Mar 4 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 10 932.50 954.50 952.00 928.00 May 10 942.00 963.50 963.00 937.25 Jul 10 950.50 971.00 970.25 945.50 Aug 10 948.00 966.75 965.00 943.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Mar 10 39.63 40.02 39.98
      105 words
    • Article
      Lock icon PALM OIL
      65 27 Mar 5 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 10 2675 2676 2697 2670 291 734 Apr 10 2681 2677 2705 2677 2780 ***** May 10 2665 2670 2700 2665 9147 ***** Jun 10 2654 2664
      65 words
    • Article
      Lock icon OIL
      75 27 Mar 4 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 78.56 -1.10 WTI (Near Mth) 80.36 -0.50 Dubai (1-Mth F) 77.54 0.89 Tapis blend 82.95 0.70 Minas 80.85 0.70 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 80.50 -0.61 Jet Kerosene 86.20 0.30 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon METALS
      67 27 Mar 5 GOLD (US$/oz) Mar 05 Mar 04 Hong Kong 1134.*****4.60 Mar 04 Mar 03 London 1130.*****2.25 1131.*****3.05 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.11 23.89 Source: UOB PLATINUM Lon (US$/oz) Mar 04 Close Previous PM Fix 1579.*****0.00 AM Fix 1576.*****1.00 Source: Thomson Reuters PLATINUM NYMEX
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    • Article
      Lock icon LONDON METALS
      71 27 Mar 4 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2187.75 2178.25 3 months 2219.00 2210.00 Copper, Grade A (US$/tonne) Cash 7366.00 7548.75 3 months 7398.00 7580.00 Lead (US$/tonne) Cash 2146.75 2214.00 3 months 2170.00 2238.50 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon The secret love affair with India
      1243 28 / 29  -  Many retired Indian diplomats knew that Lee Kuan Yew had courted India since the 1950s to take the lead in Asian affairs, but no Singaporean did By Sunanda K Datta-Ray The writer is an author. His most recent book, ‘Looking East to Look West:
      FILE PHOTOS  -  1,243 words
    • Article, Illustration
      Lock icon ‘Who Cares Anyway’ party might win British election
      809 28 / 29  -  David Mason The writer is an ex-partner of Price Waterhouse Singapore, now running his own business in the UK ELECTION fever is too strong a way to describe the state of politics in the UK, where a General Election is due to
      809 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon More M&As seen in developing world
        1214 30 / 31 Emerging markets, with their younger populations and less tapped consumers, are drawing cash-rich emerging market firms and their growth-seeking Western counterparts NYT New Delhi AS BOTH companies and countries in the West and Japan stumble under debt and fear, a new enthusiasm for deals
        NYT; BLOOMBERG  -  1,214 words
      • Article
        Lock icon Man Investments highlights some attractive strategies
        302 30 / 31  -  By Oh Boon Ping huwenbin@sph.com.sg Singapore EQUITY long-short on emerging markets and distressed debt investments remain attractive strategies amid a challenging macroeconomic environment, hedge fund manager Man Investments said. Thomas Della Casa, head of research at Britain’s Man Investments, said that emerging economies continue
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      • BROKERS' TAKE
        • Article
          Lock icon Telecommunications sector
          159 30 / 31 Underweight CIMB-GK Research Mar 5 NO surprises in Q4 2009; maintain “underweight”. Q4 2009 results of all three Singapore telcos were fairly in line, with typical seasonality. Highlights were: 1) rather poor service revenue growth although mobile revenue continued to improve; 2) weaker margins; and 3) continued pressure
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        • Article
          Lock icon Oil and gas sector
          513 30 / 31  -  Overweight OCBC Investment Research Mar 5 Compiled by Conrad Tan WITH the close of the Q4 2009 results reporting season, we find that oil and gas companies under our coverage turned in a mixed bag of results. Sembcorp Marine and Yangzijiang Shipbuilding delivered better-than-expected results with
          513 words
      • Article, Illustration
        Lock icon Avoiding costly investment mistakes
        954 32  -  Investors must be aware of confirmation bias the tendency to seek information that fits their perspective of things wealth insights Philip Loh Great Eastern Life The writer is a chartered financial consultant with Great Eastern Life. The views expressed are his own. Comments are welcome at
        954 words
      • Article, Illustration
        Lock icon How solid are audits by reputable firms?
        1194 33  -  Past fraudulent accounting cases here and abroad suggest that, the odds are, the next one is audited by one such outfit show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder AN ISSUE manager told me recently
        Compiled by BT  -  1,194 words
    • WEALTH REAL ESTATE
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  • Page 34 Advertisements
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      Lock icon Page 34 Advertisements Column 1
      69 34 im'nr essigr Featuring the Quality Homes Collection lVloda The Mode Of Stylish Living At East Coast. For enquiries: lrvin Kok, 9181 7275, lKok@savi11s.com.sg For general enquiries, kindly call 6836 3338 or search with us at resi d en ti al. savill s. com. sg Savills has more than 200 offices
      69 words
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      Lock icon Page 36 Advertisements Column 1
      79 36 M AUDEMARS PIGUET Le maitre de I'horlogerie depuis 1875 I i J S2 m m m m ivc j *.w K S3 A\ M m &S2&S 7.-.. s I Si s flw s S3 ka hi a j ht Si V 1 11. r c m t mm 1 JK
      79 words
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  • Page 1 Advertisements
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      79 1 LivingTHEBUSINESSTIMESWEEKEND|MARCH6-*****BTTHE BUSINESS TIMES WEEKEND MARCH 6-7 2010 tan beng yan phoebe leong ann kositchotitana front row tyan tribeca nancy lim IN FINE FASHION Ahead of International Women’s Day, we look at four women who have helped shape Singapore's fashionscape L2-5 STYLE Fashion in essence L6-7 DINING Shop to your guts’
      79 words
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  • BT Living
    • SHOPPING
      • Article, Illustration
        Lock icon IN FINE FASHION
        2848 2 / 3  -  Ahead of International Women’s Day, we look at four women who have helped sculpt the fashionscape in Singapore today. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg There was a time when many would have called Singapore’s fashion scene backward no cult labels and certainly no space for
        ARTHUR LEE; JOHN HENG  -  2,848 words
      • Article
        Lock icon wine & dine with BTWeekend
        849 4 / 5 wine dine with BTWeekend Chatterbox Level 5, Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Home to the signature Mandarin Chicken Rice, Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Most recently, Chatterbox opened its new premises on Level 5 of the hotel with
        849 words
    • STYLE
      • Article, Illustration
        Lock icon HOUSE STYLE
        1080 6 / 7  -  At Fashion Week, leading designers distilled their brand essences to show Autumn 2010 collections sharply focused on the house heritage. By Daniel Goh By Daniel Goh btnews@sph.com.sg USP those three letters are surely familiar to any working adult who has yawned through a boardroom Powerpoint presentation, but they’re
        AFP, AP, REUTERS PHOTOS  -  1,080 words
    • DINING
      • Article, Illustration
        Lock icon Shop to your gut’s content
        1828 8 / 9  -  BT Weekend looks at three businesses that might have the winning formula in combining the retail and dining concepts. By Audrey Phoon concepts.By Audrey Phoon aphoon@sph.com.sg SHOP-CAFÉ. The term has been fleshed out too many times by businesses with half-baked shopping and dining components and,
        PHOTOS OF A THOUSAND TALES BY YEN MENG JIIN  -  1,828 words
    • GADGETS
      • Article, Illustration
        Lock icon OUTTA SIGHT
        952 11  -  Samsung and Sony will be releasing their 3D TVs here soon. By Christopher Lim By Christopher Lim limchris@sph.com.sg PEOPLE who recently forked out hefty sums for fancy high-definition flatscreen televisions might want to kick themselves for not waiting because new TVs that display three-dimensional (3D) images will be
        952 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Bridging the gap
        1183 12/13  -  A traditional village in China seeks to bring back an appreciation of Chinese crafts. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg BRIDGES both real and figurative play a significant role in Johnson Chang Tsongzung’s life. As a prominent and highly respected curator of Chinese contemporary art, the
        PHOTOS BY GEOFFREY EU  -  1,183 words
    • TRAVEL
      • Article, Illustration
        Lock icon Off the beaten path
        823 14  -  Noosa, a pretty, coastal hub is just a two-hour drive north from Brisbane. By Selena Oh By Selena Oh btnews@sph.com.sg IT’S a place where sun-seekers and live turkeys like to hang out, whether to eat or tan, without letting fears of skin cancer or capture get
        SELENA OH  -  823 words
    • KEPPEL • CLIPPER ROUND THE WORLD
      • Article, Illustration
        Lock icon The long way around
        673 15  -  Qingdao to San Francisco will be the longest leg in the history of the Clipper Race. By Vincent Wee By Vincent Wee vincewee@sph.com.sg THE Uniquely Singapore Clipper set off on the longest leg of the Clipper 09-10 Round the World Yacht Race earlier this week, starting
        CLIPPER VENTURES PLC  -  673 words
      • Article
        Lock icon Realising this Keppelite’s dream
        434 15 THE Clipper Race alumni and Keppel’s strong support for the event through consistently encouraging staff to take part and making it a part of company culture has led to a continuous cohort of Keppel ambassadors taking part. “Before I knew how to participate, I always followed,
        434 words
    • SPORT
      • Article, Illustration
        Lock icon Setting the skating world alight
        568 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor A FORTNIGHT ago, ask most people here what they thought of figure skating, and chances are you would have been met with lots of puzzled looks and blank responses. Not surprising, given that this part
        568 words
      • Article, Illustration
        Lock icon What dreams may come
        920 16  -  kick off with john dykes John Dykes THREE summers ago, I was lucky enough to be in Hong Kong to cover the English Premier League’s Barclays Asia Trophy. Liverpool, Fulham and Portsmouth contested the pre-season event with local side South China. Harry Redknapp’s Pompey emerged the
        920 words
    • GOLF
      • Article, Illustration
        Lock icon Mind over matter
        1047 17  -  Many golfers have credited the techniques learnt in yoga with better performance on the golf course. By Justine Moss By Justine Moss btnews@sph.com.sg WHEN Mardan Mamat became the first Singaporean golfer to win a European Tour event at the OSIM Singapore Masters in 2006, he credited his
        1,047 words
    • MOTORING
      • Article, Illustration
        Lock icon A NEW JOURNEY
        594 18  -  In the world of crossovers, you get a bit of everything in the Dodge Journey.By Samuel Ee Journey.By Samuel Ee samuelee@sph.com.sg THE crossover is like the tasting menu of the automotive world you get a bit of everything in a car. In the case of the Dodge
        594 words
      • Article, Illustration
        Lock icon Big body, small engine
        527 19  -  What makes an automotive brand popular? In this weekly focus on Singapore’s Top 10 makes, the spotlight turns to 2009’s fifth most popular brand Nissan. Samuel Ee goes through the lineup available here and looks at the model that best exemplifies its appeal. brand focus Samuel
        527 words
      • Article, Illustration
        Lock icon Going upmarket
        382 19  -  lineup roundup By Samuel Ee samuelee@sph.com.sg THE Sylphy may be the quintessential Nissan sedan, but in Singapore, it is outsold by the Latio two to one. Last year, the Latio accounted for almost 40 per cent of all Nissan cars sold, even though it is priced almost identically
        382 words
      • Article, Illustration
        Lock icon Racing by numbers
        635 20  -  Since the end of the F1 season last year, four new teams have tried to join this exclusive club.By Samuel Ee f1 watch club.By Samuel Ee samuelee@sph.com.sg MIGHT the deadly sins be less lethal if there were only six? Or would Toto be less credible with 44
        PHOTOS: REUTERS, AP, AFP  -  635 words
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      70 14 Beachfront Penthhouse Apartment For Sale hi ou Luxury 2 bedroom penthouse apartment White Sand Beachfront Fully Furnished Equipped mm GIB □fii «i I I P-C Spacious 2 bedroom luxury beachfront penthouse located at Tanjung Benoa, South Bali. 180 degree views overlooking white sand beach with calm blue waters. Price to
      70 words
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      93 15 Signature Waterfront Living at Keppel Bay KeppelBay redefines premier waterfront living in Asia. A world-class precinct presenting the best in urban and waterfront lifestyles the FIABCI award-winning Caribbean at Keppel Bay, Daniel Libeskind's Reflections at Keppel Bay; the premier Marina at Keppel Bay; and the latest addition, Keppel Bay Sailing
      93 words
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      Lock icon Page 15 Advertisements Column 2
      46 15 RACE 7 QINGDAO TO SAN FRANCISCO Latest race standings 1 Spirit of Australia 2 Team Finland 3 Jamaica Lightning Bolt 4 Cape Breton Island 5 Hull&Humber 6 Uniquely Singapore 7 Cork 8 Qingdao 9 Edinburgh InspiringCapital 10 California this series is brought to you by www.marinakeppelbay.com
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