The Business Times, 7 August 2010

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Microfilm: NL30857
Total Pages: 46
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    16 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg AUGUST7-8, 2010 S$1.00 MICA (P) 124/08/2009 A SINGAPORE PRESS HOLDINGS PUBLICATION
    16 words
  • Article
    Lock icon US sweats July’s job numbers
    479 1 Latest employment figures a setback for an economy trying to find traction Reuters AP NYT Washington WITH the US economy poised between anaemic growth and a double-dip recession, yesterday’s job numbers held a special significance. And when the figures for July came, they proved worse
    Reuters; AP; NYT  -  479 words
  • Article, Illustration
    Lock icon He made the Flyer fly, but with SkyPark he touched the sky
    799 1  -  Tonnes of steel had to be hoisted 200m into the air By Lee U-Wen leeuwen@sph.com.sg Singapore HE was instrumental in bringing the Singapore Flyer to life. And as the giant observation wheel lit up the city skyline two
    JOHN HENG  -  799 words
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      Lock icon Page 1 Advertisements Column 1
      150 1 the the raffles conversation FRED DELUCA, SUBWAY PRESIDENT AND CO-FOUNDER 8-9 BT CORPORATE GOLF Networking and having fun L16-17 SHOW ME THE MONEY Nudging the wealthy to help the needy 33 staff scrum DBS caught in BOS poaching spree IT loses three senior private bankers, including the head of its
      150 words
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  • TOP STORIES
    • Article
      Lock icon MARKETS
      135 2 STI 2,995.06 (-11.70) STI FUTURES 2,984.00 (-4.00) SIMSCI 354.03 (-2.01) SIMSCI FUTURES 351.70 (-2.90) STOCKS Friday Change KL COMP 1,360.45 -1.63 NIKKEI 225 9,642.12 -11.80 HANG SENG 21,678.80 +127.08 SET 875.07 +0.15 JAKARTA 3,060.59 +15.65 MANILA 3,516.28 -4.82 KOSPI 1,783.83 -0.03 SHENZHEN B 651.32 +13.73 MUMBAI IND 18,143.99 -28.84
      135 words
    • Article
      Lock icon DBS caught too in Bank of Singapore’s poaching spree
      600 2  -  Its loss includes Larry Leong, head of a team serving Indonesian clients By Conrad Tan conradt@sph.com.sg Singapore BANK of Singapore, OCBC’s private bank, has hired three senior bankers from DBS Group, among some 40 private bankers it has attracted from rivals
      600 words
    • Article
      Lock icon Private equity firms powering M&A deals
      623 4  -  Global liquidity problems not impacting deals in the region, say industry players By Lynette Khoo lynkhoo@sph.com.sg Singapore PERSISTING global uncertainties are unlikely to derail the recovery in M&A (merger and acquisition) activities, with private equity firms back on the prowl for new acquisition targets.
      623 words
    • Article, Illustration
      Lock icon Key Obama economic aide quits in another blow to president
      533 4 Council of Economic Advisers chair leaves to take up varsity job Bloomberg San Francisco US PRESIDENT Barack Obama lost a second member of his economy team as economist Christina Romer decided to return to teaching. Ms Romer, chair of the
      Bloomberg; AP  -  533 words
    • Article, Illustration
      Lock icon Sime Darby executive charged with graft
      320 5 AFP Kuala Lumpur A SENIOR official in Malaysia’s Sime Darby conglomerate was charged with corruption yesterday, and faces imprisonment of up to 20 years if found guilty, a prosecutor said. The charge against Zamri Mohamad Iderus, who is accused of leaking business bidding details,
      AFP  -  320 words
    • Article, Illustration
      Lock icon More flats next year if demand stays strong: Mah
      485 5  -  They may come up in established estates; no new estates to open By Emilyn Yap emilyny@sph.com.sg Singapore THE Housing Development Board (HDB) could roll out more than 16,000 new flats across various estates next year if demand for public housing stays
      485 words
    • Article, Illustration
      Lock icon NATIONAL DAY 2010
      230 5 Jointly brought to you by The Business Times and Singapore’s transformation from an idyllic fishing village to a bustling modern city of the 21st century has been nothing short of spectacular. We have proven against the odds time and time again to become one of Asia’s leading
      230 words
    • Article, Illustration
      Lock icon Dodd-Frank rules propelling sea change across Wall St
      793 6 Even Goldman is thinking of dismantling its legendary proprietary trading operation NYT New York THEY are the elite among the elite at Goldman Sachs, highfliers who are the envy of Wall Street. But on Washington’s orders, Goldman is considering a step that
      NYT; BLOOMBERG  -  793 words
    • Article
      Lock icon NZ gambler trumped by own casino ban
      148 6 AP Wellington A MAN who won NZ$60,000 (S$59,300) playing poker at an Auckland casino was refused the jackpot because he had banned himself from the premises for gambling too much, a newspaper reported yesterday. Sothea Sinn, 28, won the prize playing Caribbean stud
      AP  -  148 words
    • Article
      Lock icon Pets on holiday have it good
      296 6 Reuters New York ALYSA Binder and her husband were so stressed when their Jack Russell Zoey was consigned to the cargo hold that they founded Pet Airways, a pets-only fleet of Beechcraft 1900 planes rebuilt so all cosseted critters can fly in cli-mate-controlled main
      Reuters  -  296 words
    • Article
      Lock icon JTC exploring how to make fuller use of limited land
      562 7  -  Petrochemicals industry’s impending growth requires ‘land intensification’ By Ronnie Lim ronnie@sph.com.sg Singapore WITH the world’s largest oil/petrochemical companies like ExxonMobil and PetroChina planning even more investments here, Singapore is studying how to intensify land use for the industry. This follows
      562 words
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      Lock icon Page 2 Advertisements Column 1
      113 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Philanthropy 11 Companies 12-15 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 LIVING Dining L2-5 Style L6-7 Gadgets L8-9 Home&Garden L10-11 Health L12-13 Moments L14
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      309 3 PQWERPAC INTERNATIONAL HAPPY 45TH BIRTHDAY SINGAPORE LIVING SHARED DREAMS IN ASSOCIATION WITH POWERPLUS GROUP INC., USA V:-' W -V* v -v. r.h-c.!ifc l mZmJm i y Pi IN r "AC UWERPAC f 0 II 3 > i" e>3 X v 1 to ir *ti Mil »!<> -Tu •"SI :j| «P5P*ii
      309 words
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  • Page 7 Advertisements
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      167 7 MONT' KIARA KUALA LUMPUR Highly-Desired International Community Only $$35,000 Downpayment Required Guarantee S$32,000 p.a. Rental Income National Day Weekend PROMOTH 1 ati<Mte=a3aewnriBl fi iV» i' ft SENI it MONT' KIARA ONE tAif Call NOW to Register! Tel: 6100 8237 —c iiiBiliii mm) m im PLAZA MONT: KIARA wmtm 9(h Finance
      167 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Super sub maker
      2565 8/9  -  makeraimstomakeittheworldsNo1By Amit R Subway’s founder may have originally started the business to help pay tuition fees but he now aims to make it the world’s No 1 fast food chain. By Amit Roy Choudhury makeraimstomakeittheworldsNo1By By Amit Roy Choudhury amit@sph.com.sg FRED DeLuca has a problem that many
      ARTHUR LEE  -  2,565 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | Aug 2-6, 2010
      • Article
        Lock icon Lots of room still for biomed firms in Singapore
        65 10 THERE is room for more global pharmaceutical and medical technology companies in Singapore and the Economic Development Board is sanguine about prospects for further investments in the sector. And despite the recent pullback in biomedical output as reflected in the June
        65 words
      • Article
        Lock icon JTC plans medtech park, new industrial complex
        61 10 WITH a long list of new and ongoing projects to look after, JTC Corporation chief executive officer Manohar Khiatani hardly has time for hobbies. He would like to pick up golf, but new projects such as a proposed medical technology park and a
        61 words
      • Article
        Lock icon S-Chips swim faster, ride higher than in HK
        70 10 STOCKS of Chinese companies listed in Singapore are more liquid than those of their peers in Hong Kong, Singapore Exchange chief executive Magnus Bocker said yesterday. Responding to a question during SGX’s results briefing on why some S-chips seek to dual-list in
        70 words
      • Article
        Lock icon Thai Tiger roars out a challenge to AirAsia
        59 10 THE regional low-cost carrier business is set to become a three-horse race now that Tiger Airways and Thai Airways have linked up to form Thai Tiger. Based at Bangkok’s Suvarnabhumi International Airport, Thai Tiger is a US$6 million venture owned 51 per
        59 words
      • Article
        Lock icon Electronics sizzler comes with jobs in tow
        51 10 ANECDOTAL evidence since the start of the year has been pointing toasmartrecovery, butnowit’s official. Singapore’s electronics sector output grew a red-hot 60.6 per cent in the first half of this year, with growth driven by both the manufacturing and services components of the
        51 words
      • Article
        Lock icon Khazanah makes waves with $1.5b sukuk
        48 10 MALAYSIA’s Khazanah Nasional made its debut on Tuesday in Singapore’s debt market with a splash to the tune of $1.5 billion. Khazanah’s $1.5 billion inaugural issue of sukuk, or Islamic bonds, is three times the size of Singapore’s sukuk market until now.
        48 words
      • Article
        Lock icon MAS hits DBS with $230m capital charge
        68 10 DBS Group has been slapped with an extra $230 million capital charge and censure by the Monetary Authority of Singapore as a penalty for the massive systems failure that crippled its banking network a month ago. The regulatory capital charge will reduce the
        68 words
      • Article
        Lock icon CityDev’s KL site may set new price benchmark
        72 10 SINGAPORE property tycoon Kwek Leng Beng is in talks to sell a parcel of land in Kuala Lumpur, which could fetch a record price for a land deal, says a report in Malaysia’s Business Times. It is understood that the selling price
        72 words
      • Article, Illustration
        Lock icon WELL-COVERED
        37 10 Analysts say that the financial impact on DBS from the extra $230 million capital charge over the July systems crash seems negligible, given that DBS already holds far more capital than the regulatory minimum FILE PHOTO
        FILE PHOTO  -  37 words
      • Article
        Lock icon In the mood for a cooler economy
        56 10 BUSINESS activity and optimism has cooled, alongside expectations of slower economic growth in the second half of this year. Even so, leading indicators from the latest BT-UniSIM Business Climate Survey predict that gross domestic product may rise by up to 14.3 per cent
        56 words
      • Article
        Lock icon Premier League looms in SingTel’s goalmouth
        65 10 COME Aug 14, the Barclay’s Premier League broadcast on SingTel mio will be a make-or-break event for the operator’s TV service. SingTel’s three-year-old IPTV (Internet protocol television) network had 155,000 customers at the end of 2009, but this number grew to 200,000 last month,
        65 words
      • Article
        Lock icon Financial impact on DBS negligible, say analysts
        85 10 THE blow to DBS Group’s reputation from the systems crash on July 5 and Wednesday’s censure by the Monetary Authority of Singapore (MAS) is likely to be greater than any impact from the extra regulatory capital that the bank is now required to
        85 words
      • Article
        Lock icon Matchmaker for firms, directors goes hot
        40 10 The match-making service for listed companies and directors is now on. The Singapore Institute of Directors (SID) officially launched the search service yesterday to help companies cast the net wider to find suitable directors.
        40 words
    • NEXT WEEK | Aug 9-13, 2010
      • Article
        Lock icon US DATA
        35 10 Aug 10 Q2 productivity June wholesale inventories Aug 11 June trade balance Aug 12 Initial claims July export, import prices Aug 13 July CPI July retail sales Aug Mich sentiment June business inventories
        35 words
      • Article
        Lock icon SINGAPORE DATA
        21 10 Aug 10 Q2 gross domestic product Q2 balance of payments Aug 13 June retail sales and catering trade indices
        21 words
      • Article
        Lock icon EVENTS
        28 10 Aug 9 TOKYO BOJ monetary policy meeting (to Aug 10) Aug 10 WASHINGTON FOMC holds meeting; announces decision on interest rates; issues policy statement at 1815 GMT
        28 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      334 10 CRYPTIC CROSSWORD Across 1 Call back to obtain a financial plan (6) 4 Nowadays, treat it as comparable with plenty (8) 9 Scored, but caught (6) 10 Fruit crop? It’s a disaster (8) 12 Band call (4) 13 It beats a man with skill (5) 14 We hear there’s equal
      334 words
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 2
      13 10 SATURDAY with Ludwig ‘Looks like you’re up for a preNational Day fireworks display...’
      13 words
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  • BEACONS OF PHILANTHROPY
    • Article, Illustration
      Lock icon Leading the way in giving and caring
      1216 11  -  The Lien Foundation is not afraid of tackling taboo issues and unpopular causes and coming up with innovative solutions for them. By Teh Shi Ning By Teh Shi Ning tshining@sph.com.sg THERE is a spontaneous giving that rises to the occasion when there is
      ARTHUR LEE  -  1,216 words
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  • COMPANIES
    • Article, Illustration
      Lock icon NOL steers itself into profit territory
      476 12  -  Q2 net profit of US$99.7m versus US$146.2m loss a year earlier as container volumes and freight rates soar By Joyce Hooi joyceh@sph.com.sg Singapore NEPTUNE Orient Lines (NOL) swung sharply back into the black in the second quarter, turbocharged by soaring container volumes and rising
      BLOOMBERG  -  476 words
    • Article
      Lock icon Olam makes its mark in US$250m bond issue
      336 12  -  By Siow Li Sen lisen@sph.com.sg Singapore COMMODITY player Olam International yesterday sold US$250 million worth of 7.5 per cent, 10yearbonds–the firstunratedSingapore company to do so in international debt markets. A jubilant banker close to the transaction said that, for international markets, bonds
      336 words
    • Article
      Lock icon Parkway Life Reit on the prowl
      434 12  -  By Chen Huifen xuifen@sph.com.sg Singapore HOT on the heels of two recent acquisitions, Parkway Life Reit has indicated it could take a more aggressive growth stance as the recovering property sector in the Asia-Pacific presents more acquisition opportunities. “The global economic recovery has driven
      434 words
    • Article
      Lock icon Ascott Reit sells Jakarta asset
      249 12 ASCOTT Residence Trust (Ascott Reit) has agreed to sell Country Woods in Jakarta for $33.91 million. The sale price the highest submitted in abidding process– is60 per cent abovethe property’s valuation of $21.2 million at June 30. Ascott Reit said that it expects a net
      249 words
    • Article
      Lock icon SingLand, UIC turn around in Q2
      391 14  -  SingLand posts a net profit of $60m and UIC $79.1m; big fair-value losses a year ago give way to fair-value gains By Arthur Sim simska@sph.com.sg Singapore PROPERTY sales at Singapore Land (SingLand) lifted net profit for the second quarter ended June 30 to $60
      391 words
    • Article
      Lock icon UOL rebounds to post Q2 profit of $147.8m
      395 14  -  By Emilyn Yap emilyny@sph.com.sg Singapore UOL Group staged a comeback for the second quarter ended June 30, helped by higher earnings from property development, property investments and hotel operations and a favourable shift in investment property fair value. Net profit in Q2
      395 words
    • Article
      Lock icon Creative posts loss; stays cautious
      331 14 CREATIVE Technology warned yesterday that it expects to report an operating loss for its current first quarter, as the overall market for the group’s products remains difficult. The music player and consumer entertainment product maker gave the forecast as it announced that it suffered a
      331 words
    • Article
      Lock icon Rotary’s Q2 earnings rise 6% to $13.74m
      380 14  -  By Lynn Kan lynnkan@sph.com.sg Singapore ROTARY Engineering’s sec-ond-quarter net profit rose 6 per cent year on year to $13.74 million despite revenue surging 28 per cent to $209.4 million. One factor was that its share of results from associates for the quarter was
      380 words
    • Article, Illustration
      Lock icon A puzzling week of two contrasting halves
      598 15  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent IT WOULD be fair to say a large number of traders spent part of this week scratching their heads as they pondered why stocks in the US, here and most other markets were rising in the face
      598 words
    • Business briefing
      • Article
        Lock icon Hengxin sees decline in Q2, H1 operating results
        59 15 HENGXIN Technology Ltd said it expects the operating results of the group to experience a decline in the second quarter and first half of 2010. The decline is mainly due to the reduction in capital expenditure by China’s three major telecom operators,
        59 words
      • Article
        Lock icon SGX consulting public on clearing services proposal
        92 15 THE Singapore Exchange (SGX) is consulting the public on its proposal to extend its Central Counterparty Clearing Services for Over-the-Counter Traded Financial Derivative (OTCF) contracts to participation from non-bank financial institutions. On April 21, 2010, SGX made a proposal to allow Bank Clearing
        92 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 15 VOL CLOSE GoldenAgri 97,332 60.5 1.0 1.7 Rowsley 60,379 14.5 0.5 3.6 Informatics 52,905 18.5 0.5 2.8 UniEnvtech 47,643 43 -1.5 -3.4 Enviro-Hub 46,791 11 1.0 10.0 CapitaLand 39,966 409 -3.0 -0.7 UniFiber 36,327 4.5 0.0 0.0 Consciencefood 34,834 30.5 0.5 1.7 Spicei2iR 30,894 2 1.0 100.0
      110 words
    • Article
      Lock icon STI STOCKS
      107 15 Stock name Close Change CapMallsAsia 2.130 CapitaLand 4.090 -0.030 CapitaMall 1.940 -0.010 CityDev 12.200 -0.100 ComfortDelGro 1.590 DBS Grp 14.620 F&N 5.630 -0.050 Genting SP 1.260 Golden Agri 0.605 +0.010 HK Land 5.400 -0.020 JMH 40.960 -0.140 JSH 24.100 +0.020 Jardine C&C 34.120 +0.080 Keppel Corp 9.080 -0.150
      107 words
    • Article
      Lock icon TOP GAINERS
      58 15 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 85.0 0.5 SIA.ES.1008 1636 32.0 2.0 SIA 200 1630 26.0 1.6 Pru 500US$ 926 24.3 2.0 Wilmar 645 23.0 3.7 SIA 1630 22.0 1.4 Lyxor China H 10US$ 1583 21.6 1.0 DBXT CSI300 10US$ 950 18.9 1.5 Lyxor Europe 10
      58 words
    • Article
      Lock icon TOP LOSERS
      55 15 BY CENTS CLOSEDOWN DBXT FTVietnam 10US$ 4029 -68.8 -1.3 DBXT FTChina25 10US$ 3045 -24.3 -0.6 CityDev.ES.1008 1222 -24.0 -1.9 GLD 10US$ ***** -22.9 -0.1 DBXT SPASX200 10US$ 2939 -21.6 -0.5 JMH 4096 -18.9 -0.3 Asia Water W*****0 0.5 -18.0 -97.3 UOB 1952 -18.0 -0.9 TigerAir 207 -17.0 -7.6
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    • Article
      Lock icon At a glance
      275 15 6-month and Q2 results ended June 2010 6 MONTHS ENDED JUNE 2010 3 MONTHS ENDED JUNE 2010 net profit (s$m) turnover (s$m) net profit (s$m) turnover (s$m) current company previous chng current previous chng current previous chng current previous chng 1 UIC 138.64 -178.25 nm 553.26 467.34
      275 words
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      Lock icon Page 13 Advertisements Column 1
      1590 13 1. INTRODUCTION VOLUNTARY CONDITIONAL CASH OFFER ANZ SINGAPORE LIMITED (Company Registration No.: *****2937W) (Incorporated in the Republic of Singapore) for and on behalf of PEAK RETAIL INVESTMENTS PTE. LTD. (Company Registration No.: *****0755C) (Incorporated in the Republic of Singapore) to acquire all the issued and paid-up ordinary shares in the
      1,590 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon YOG cost worth every penny: sports prof
      610 16  -  Jarvie says initial bid price of any Olympics is always much lower than the eventual amount By Lee U-Wen leeuwen@sph.com.sg THE cost of hosting next week’s Youth Olympic Games may have more than tripled to $387 million so far but it’s an investment
      610 words
    • Article, Illustration
      Lock icon Cricket could be headed for a long innings in Singapore
      831 16  -  By Malminderjit Singh msingh@sph.com.sg THERE is good news for cricket fans in Singapore as there are plans to position the Republic as a leading destination for international Test matches as early as next year. Dharmichand Mulewa, general manager of the
      ECA  -  831 words
    • Article
      Lock icon Creditors vote down Agus payment proposal
      571 17  -  With expiration of stay on lawsuits, they can start or continue bankruptcy proceedings By Felda Chay feldac@sph.com.sg Singapore FORMER bank owner Agus Anwar’s plan to keep off the chains of bankruptcy has been thwarted by his creditors. Unconvinced by his payment proposal, creditors yesterday
      571 words
    • Article, Illustration
      Lock icon Asean wants formal code in disputed South China Sea
      394 17 Reuters Manila THE 10-member Association of South East Asian Nations (Asean) wants to establish a formal code of conduct in the South China Sea to avoid tension around disputed territories, a senior Filipino diplomat said yesterday. Brunei, Malaysia, Vietnam, the Philippines,
      Reuters; AP  -  394 words
    • Article
      Lock icon CWT Commo not for sale: official
      83 17 Reuters Singapore CWT Commodities is not for sale but is instead expanding operations including another facility in the US, an official said yesterday. “We are doing well so we do not have intention to sell (the ny).Ourintentionistokeepitindependent,”Jennifer Tan, manager for London Metal Exchange operations,
      Reuters  -  83 words
    • Article
      Lock icon Axiom still treading where others shun
      699 18 It’s mulling over an overweight on Vietnam even after some investors lost money there Bloomberg AXIOM Asia Private Capital, run by former managers of Government of Singapore Investment Corp, plans to allocate more money to Vietnam and other pri-vate-equity markets that are shunned by
      Bloomberg  -  699 words
    • Article, Illustration
      Lock icon GROUP EFFORT PAYS
      111 18 ABOUT 50 volunteers from OCBC Bank and Bank OCBC NISP went to Bandung, Indonesia, in late July to spend three days helping the local community. The trip is part of a corporate responsibility initiative to improve the living conditions of people in the village of Banjaran. The
      111 words
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      150 17 adv CORRIGENDUM GALLEON ASIA, PTE. LTD. (In Liquidation) Reg No. *****6971K With reference to the Notice Of Final Meeting published in The Business Times on 4 August 2010, the date of Final Meeting should be 3 rd September 2010 at 10.00 am and the proxy must be deposited not later
      150 words
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  • Page 18 Advertisements
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      Lock icon Page 18 Advertisements Column 1
      22 18 Lianhe Zaobao $22.9m total estimated claims from three floods hit historic high SI******Jtc GUTJfl3fciirai£iLiit To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      22 words
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  • WORLD
    • Article, Illustration
      Lock icon AIG posts US$538m loss for Q2
      545 19 Insurance giant says it’s in talks with federal regulators on the process of a complete government exit AP Bloomberg New York INSURANCE giant American International Group (AIG) yesterday reported a US$538 million loss in the second quarter due to charges related to selling assets
      AP; Bloomberg; AFP FILE PHOTO  -  545 words
    • Article
      Lock icon Talks on to avert BlackBerry bans
      471 19 Bloomberg AFP Washington THE US and Canadian governments have started talks with the authorities in countries including the United Arab Emirates (UAE) to try and head off possible bans on the use of Research In Motion Ltd’s (RIM) BlackBerry. Canadian Trade Minister Peter Van
      Bloomberg; AFP  -  471 words
    • Article
      Lock icon Eurozone buoyant in Q2 but recovery two-speed
      316 19 Reuters Berlin/Rome A LEAP in German industry output over the second quarter and a moderate rise in Italian economic growth have added to evidence that the eurozone is in a robust recovery phase, but with divergences within the bloc. The Bank of Spain
      Reuters  -  316 words
    • Article, Illustration
      Lock icon Wheat price rise fuels fears of food inflation
      713 20 Asian importers not panicked as Russia bans export of grains Reuters Singapore SUPPLIERS of Russian wheat to Asia are edging nearer to cancelling contracts after Moscow’s ban on grain exports, forcing buyers to turn to alternative origins as US wheat futures soar
      Reuters; BLOOMBERG  -  713 words
    • Article
      Lock icon FSA probes Coutts’ bond fund sales
      348 20 Reuters Bloomberg London THE UK’s Financial Services Authority (FSA) has opened a probe into sales of a bond fund by Royal Bank of Scotland’s(RBS) private banking arm Coutts, which counts Queen Elizabeth II among its clients. “InJuly 2010,theFSAnotifiedRBS Group that it was commencing an
      Reuters; Bloomberg  -  348 words
    • Article
      Lock icon Social media websites costing UK billions: survey
      323 21 Reuters London EMPLOYEES who fritter time away on Facebook, Twitter and other social media websites are costing British businesses billions, new research suggests. British employment website MyJobGroup.co.uk said it polled 1,000 workers and found that nearly 6 per cent, or two million, of
      Reuters  -  323 words
    • Article
      Lock icon Beijing’s interest policy hurts savers
      689 21 It also affects Beijing’s bid to counter slower export growth with consumer spending Bloomberg Beijing PEKING University professor Michael Pettis was discussing declining bank-deposit returns when a student interrupted with a story about her aunt that may stymieChina’splantoboost consumer spending. “To send her son to
      Bloomberg  -  689 words
    • Article, Illustration
      Lock icon China appliance giant Gome sues jailed founder for damages
      422 21 AP Hong Kong CHINA’Sbiggestapplianceretailer is suing its founder and former chairman for damages after he was jailed for economic crimes and manoeuvres from prison to exert control over the company. Gome Electrical Appliances Holdings Ltd started legal proceedings on Thursday against
      AP  -  422 words
    • Article, Illustration
      Lock icon GM chief wants govt to sell its stake in firm
      643 22 Ending Washington ownership would be good for employee morale and would improve GM’s image: Whitacre NYT Traverse City, Michigan EAGER to rid his company of the stigma of being government owned, the chief executive of General Motors (GM), Edward Whitacre,
      NYT; BLOOMBERG  -  643 words
    • Article
      Lock icon Paulson funds pare bullish bets
      396 22 Bloomberg New York HEDGE-FUND manager John Paulson, whose US$32 billion firm has been betting on an economic recovery by 2012, has pared bullish bets across his funds, according to a person briefed on the investments. Mr Paulson’s US$3 billion Recovery Fund, a bet on his
      Bloomberg  -  396 words
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  • SGX
    • Article
      Lock icon Transaction date: Aug 6
      9061 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 20 11 3148 8Telecom 19 +0.5 1315 19.5 18.5 19 19.5 1.7 9.5 6.1 91 10.5 6 5834 A-Sonic 10.5cbi +0.5
      9,061 words
    • Article
      Lock icon SGX CATALIST
      1864 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 27.8 4.8 225 130 6222 t APStrategic 195 180 194 115.7 4 0.5 1501
      1,864 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 8 6 0 0 0 3 8 6 Manufacturing 50 63 75 8 5 9 58 68 84 Commerce 19 18 26 4 4 3 23 22 29 Tpt/Stor/Comms 9 17 15
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      831 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Aug 2 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Cache Log Trust 5-Aug-10 Lim Hwee Chiang *Sell 775 na ***** 2.16 ***** 2.04 AIMS Amp Cap
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      Lock icon SECURITIES TRADING TURNOVER
      123 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,165 18,165 54,280 54,280 Manufacturing 437,930 11,829 449,759 381,652 1,915 383,567 Commerce 95,121 35,364 130,485 118,176 10,118 128,293 Tpt/Stor/Comms 114,936 1,163 116,099 216,250 107 216,356 Finance 25,285 5 25,290 181,736 1 181,736 Construction 49,709 10,582
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      127 27 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2260 1.2620 Can dollar 1.3220 1.3380 Euro 1.7730 1.7940 NZ dollar 0.9780 1.0000 Sterling pound 2.1370 2.1620 US dollar 1.3450 1.3610 Local dollars to 100 units of foreign currency: Currencies Bid Offer Chi
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      Lock icon STOCK MARKETS
      94 27 YTD change: +3.36% 52-week high: 3,043.28 on Aug 3,2010 52-week low: 2,521.36 on Aug 19,2009 Source: Bloomberg YTD change:-18.88% 52-week high: 3,419.74 on Aug 6,2009 52-week low: 2,319.74 on July 2,2010 Source: Bloomberg YTD change: -0.89% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 18,971.50 on May 27,2010
      Source: Bloomberg  -  94 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 5 Index Change Change Change Change Change Change World Index Preliminary 823.6 -0.1 -1.1 0.0 -4.9 -0.1 -1.4 ‡EAFE Preliminary 762.5 0.2 -2.8 0.3 -7.4 0.3 -4.0 Europe Preliminary 1114.6 -0.2
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      Lock icon INTERBANK CURRENCY RATES
      154 27 Aug 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2383 1.2400 0.9175 0.9180 Canadian dollar 1.3290 1.3308 0.9847 0.9852 Euro 1.7809 1.7832 1.3196 1.3201 NZ dollar 0.9841 0.9858 0.7292 0.7298 Sterling pound 2.1478 2.1502 1.5914 1.5918
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      Lock icon LIFFE
      82 27 Aug 5 COCOA (£/tonne) Close Prev High/Low Sep 10 2292 2294 2323/2290 Dec 10 2180 2177 2195/2173 Mar 11 2160 2159 2176/2157 May 11 2167 unch 2178/2160 COFFEE (US$/tonne) Close Pev High/Low Sep 10 1740 1741 1760/1729 Nov 10 1760 unch 1780/1749 Jan 11 1745 1746 1761/1737 Mar 11
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      Lock icon CHICAGO BOT
      93 27 Aug 5 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 10 1055.*****3.*****0.*****5.50 Sep 10 1034.*****9.*****4.*****7.00 Nov 10 1029.*****4.*****9.*****1.00 Jan 11 1034.*****0.*****3.*****8.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Aug 10 41.26 41.36 41.97 40.90 Sep 10 41.41 41.51 42.51 41.02 Oct 10 41.58 41.69 42.41
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      Lock icon PALM OIL
      66 27 Aug 6 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 10 2725 2752 2762 2725 55 1820 Sep 10 2645 3697 2727 2640 913 ***** Oct 10 2610 2661 3695 2604 ***** ***** Nov 10 2605 2651
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    • Article
      Lock icon OIL
      75 27 Aug 5 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 81.78 -0.94 WTI (Near Mth) 82.14 -0.38 Dubai (1-Mth F) 79.70 0.26 Tapis blend 85.65 -0.10 Minas 82.35 -0.10 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 75.16 1.22 Jet Kerosene 93.25 0.03 US$/barrel Opec Oil Basket Price
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      Lock icon LONDON METALS
      73 27 Aug 5 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2191.25 2217.50 3 months 2200.00 2228.00 Copper, Grade A (US$/tonne) Cash 7371.00 7477.50 3 months 7399.00 7505.00 Lead (US$/tonne) Cash 2160.25 2219.25 3 months 2185.00 2243.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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      Lock icon METALS
      66 27 Aug 6 GOLD (US$/oz) Aug 05 Aug 06 Hong Kong 1196.*****7.40 Aug 04 Aug 05 London 1199.*****2.90 1200.*****3.65 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.99 24.77 Source: UOB PLATINUM Lon (US$/oz) Aug 05 Close Previous PM Fix 1577.*****0.00 AM Fix 1576.*****7.00 Source: Thomson Reuters PLATINUM NYMEX
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Seeking a better quality of life
      1066 28 / 29  -  Common reasons cited by China’s emigrating rich: better education for children; pollution-free environment; better medical care; safer food supply; bigger and cheaper housing. By DIDI KIRSTEN TATLOW in Beijing By DIDI KIRSTEN TATLOW IHT ‘They’reallmillion-aires.They’vemadeit,”said Mikael Charette of the thousands of wealthy Chinese his
      IHT; AP  -  1,066 words
    • Article
      Lock icon Mega-jubilee to kill global debt monster
      736 28 / 29  -  fifll REUTERS BREAKINGVIEWS By Edward Hadas LEADERS, lenders and spenders cannot agree how best to recover from the financial crisis and recession. The great current debate is between government stimulus and austerity, but neither option really deals with the most fundamental problem the debt-heavy
      736 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Investors play oil tycoons
        1066 30 / 31  -  Those searching for yield are buying into Master Limited Partnerships securities organised around energy and natural resources. By Margaret Collins By Margaret Collins Bloomberg CHUCK Moore, a retired college professor and property investor in Nevada, said that he started buying into oil and gas pipeline partnerships
        Bloomberg; BLOOMBERG  -  1,066 words
      • BROKERS' TAKE
        • Article
          Lock icon Parkway Life Reit
          342 30 / 31 Buy DMG Partners Research Aug 6 Close: $1.44 REVENUE grew 16.4 per cent y-o-y, with added contribution from new nursing homes. Q2 FY10 DPU rose 10.9 per cent y-o-y (+one per cent q-o-q) from 1.89 cents to 2.09 cents, representing 23 per cent of our FY10 DPU
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        • Article
          Lock icon CWT
          424 30 / 31  -  Neutral CIMB Aug 6 Close: $1.01 Compiled by Lynette Khoo SLIGHTLYbelow;downgradefrom“outperform” to “neutral”: Q2 FY10 core net profit ($6.8 million, -22 per cent y-o-y) came in slightly below expectations, at 18.5 per cent of our FY10 forecast and consensus. This was mainly due to start-up costs for European operations
          424 words
      • Article, Illustration
        Lock icon Charting America’s economic course
        1372 32  -  Who’s on the right track Richard Berner of Morgan Stanley or Jan Hatzius of Goldman Sachs? By Nelson D Schwartz NYT WHENthelatestunem-ployment figures are announced, all of Wall Street will be watching. But for Richard Berner of Morgan Stanley and Jan Hatzius of Goldman Sachs, the
        NYT; BLOOMBERG FILE PHOTOS  -  1,372 words
      • Article, Illustration
        Lock icon Nudging the wealthy to help the needy
        1557 33  -  Research experiments indicate the rich are capable of compassion for their fellow man if reminded but are reluctant to show it spontaneously show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent YEARS and years ago, on Rag and Flag Day during my
        AFP FILE PHOTOS  -  1,557 words
    • WEALTH REAL ESTATE
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  • Page 34 Advertisements
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      Lock icon Page 34 Advertisements Column 1
      49 34 Featuring the Prestige Homes Collection Your Specialist lri Prime and Luxurious Properties For enquiries: Ruby Ong 9222 0208, ROng@savills.com.sg or Lawrence Chia 9617 2884, LChia@savills.com.sg To arrange for an appointment to view our other luxurious developments, please call 6836 3338 or search with us a residential.savills.com. sg savills m-xwmmm
      49 words
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      Lock icon Page 36 Advertisements Column 1
      62 36 M AUDEMARS PIGUET Lc maitre de I'horlogerie depuis 1875 r f r II o V V K m T» r rj r >_ *tsai tea*, 1 L .V Si .<* ih* -V §Un£ 1 1 jT"!. f M >':& iw fw Jt w'J. .h J f/. J •v".. -Vi* A
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      55 1 KL HAWKER GUIDE The best beef noodles L4-5 STYLE Uniquely Singapore L6-7 BT THE BUSINESS TIMES WEEKEND AUGUST 7-8 2010 OLD FAITHFULS Heritage food from Singapore's vintage restaurants L2-3 GADGETS iPhone 4 cases L8-9 BT GOLF LEAGUE Networking having fun L16-17 MOMENTS Aug 9: Date to the world L14 MOTORING
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Old faithfuls
        1979 2 / 3  -  Restaurants come and go, but a special few have been around since, or even before, Singapore gained its independence 45 years ago. BT Weekend visits four that continue to fly the culinary flag. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg TAKING a culinary walk down memory lane somehow
        1,979 words
    • KL HAWKER GUIDE
      • Article, Illustration
        Lock icon Bring out the beef
        1933 4 / 5  -  Beef noodles are popular with many of KL’s foodies, and for good reason too. By Joyceline Tully too.By Joyceline Tully btnews@sph.com.sg SOME like it dry, with moist, fragrant mince and thin, slurp-able egg noodles; others like it soupy, complete with chopped pickled vegetables for a tangy
        PHOTOS BY JOYCELINE TULLY  -  1,933 words
    • STYLE
      • Article, Illustration
        Lock icon UNIQUELY SINGAPORE
        1567 6 / 7  -  The idea of a national dress has been a notion toyed around with for years, usually ending with a much-maligned, orchid-inspired outfit. This National Day, we asked several Singaporean designers to look for inspiration within themselves, and tell their own stories of Singapore through fashion. The result is
        ALL PHOTOS OF DESIGNERS EXCEPT ASHLEY ISHAM BY JOHN HENG  -  1,567 words
    • GADGETS
      • Article, Illustration
        Lock icon It’s a lock!
        582 8 / 9  -  New technology weaves security seamlessly into one’s lifestyle. By Dylan Tan By Dylan Tan dylantan@sph.com.sg COMPAREDtoourneighbours,Singaporehasarel-atively low crime rate and this often leads homeowners here to take security for granted. The statistics, however, tell a different story. According to Toby Koh, managing director of Ademco (FarEast) Private
        582 words
      • Article, Illustration
        Lock icon Case studies
        646 8 / 9  -  There are plenty of alternatives to Apple’s official cases for the iPhone 4. By Christopher Lim By Christopher Lim limchris@sph.com.sg APPLE’S iPad is still out of stock in Singapore, and the iPhone 4 is selling fast, which is no surprise since even the cheapest iPhone plans from SingTel,
        646 words
      • Article
        Lock icon wine & dine with BTWeekend
        813 8 / 9 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
        813 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon New lease of life
        1473 10 / 11  -  This 1934 Straits eclectic bungalow in George Town, Penang, has been lovingly restored by owners who value its architectural heritage. By Cheah Ui-Hoon space| heritage.By Cheah Ui-Hoon uihoon@sph.com.sg THEY were looking for a house in the region which could be their weekend getaway home, but after
        PHOTOS BY CHEAH UI-HOON  -  1,473 words
    • HEALTH
      • Article
        Lock icon Stay put, stay fit
        447 12 / 13 Instead of jetting off for the holidays, consider spending a week of free time enjoying your own neighbourhood, and get into shape while you’re at it LATWP IF YOU flip on a reality-TV show about weight loss, you can expect to see an exercise montage and
        LATWP  -  447 words
      • Article, Illustration
        Lock icon One week to a stronger you
        796 12 / 13 LATWP BEFORE the week begins, you’ll want to hammer out your itinerary, says Lisa Himmelfarb, a Washington-based social worker who specialises in weight management. Instead of hotel reservations, consider snagging spots in yoga and cycling classes. Schedule appointments with trainers and other experts ahead
        LATWP  -  796 words
      • Article, Illustration
        Lock icon Breathing difficulties
        669 12 / 13  -  A closer look at COPD, the sixth leading cause of death in Singapore. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg ABOUT one in two smokers who have been smoking for 10 years will have chronic obstructive pulmonary disease (COPD) a condition related to the decrease in lung function
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    • MOMENTS
      • Article, Illustration
        Lock icon Date to the world
        898 14  -  Aug 9 isn’t just significant to Singapore here’s a round-up of what’s happened elsewhere around the globe on that day in history. By Audrey Phoon By Audrey Phoon aphoon@sph.com.sg 1854HENRY David Thoreau publishes Walden, one of the most highly regarded books of all time. The book
        BLOOMBERG  -  898 words
    • SPORT
      • Article, Illustration
        Lock icon Reds revival on the cards?
        819 15  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor IT’S no secret that Liverpool fans don’t particularly like their club’s American owners Tom Hicks and George Gillett, the pair who promised them the moon after a controversial hostile takeover in 2007 but ultimately failed
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    • BT CORPORATE GOLF LEAGUE 2010
      • Article, Illustration
        Lock icon Networking and having fun
        862 16/17  -  By Justine Moss btnews@sph.com.sg AN ALL-NATURAL tonic and a combination of Japanese and Singaporean players in the team are perfect secret weapons in the Cerebos Pacific Limited team according to Daniel Quek, Cerebos’ vice-president, corporate affairs investor relations. “As you can see, we have Japanese and
        862 words
      • Article
        Lock icon APB and KPMG leading the pack
        276 16/17  -  By Justine Moss THIS week saw the first balls being struck down the pristine fairways of Tanah Merah Country Club’s Garden Course under perfect skies, in the inaugural Business Times Corporate Golf League, a six 18-hole round event which will be played at a
        276 words
      • Article
        Lock icon Park Hotel Group welcomes new addition
        298 16/17  -  By Justine Moss THIS weekend is a special one for the league’s presenting sponsor Park Hotel Group, which will have a soft opening launch of their flagship property the Grand Park Orchard on Aug 8. “It’s the crown jewel of the group and it’s
        298 words
    • MOTORING
      • Article, Illustration
        Lock icon JETT SETTER
        487 18  -  In terms of concept, the sixth-generation Volkswagen Jetta is an all-new vehicle design. By Samuel Ee By Samuel Ee samuelee@sph.com.sg WHERE once the Volkswagen Jetta used to be a Volkswagen Golf with a boot added on, the German carmaker now calls its compact sedan “independent”. Independent because the
        487 words
      • Article, Illustration
        Lock icon MORE FOR LESS
        481 19  -  The new Volkswagen Jetta is both practical and pretty. By Samuel Ee By Samuel Ee samuelee@sph.com.sg FOR Michael Hinz, the greatest improvement that the all-new Volkswagen Jetta represents is its ability to offer so much car for so little. Or in this case, just US$16,000 in America.
        481 words
      • Article, Illustration
        Lock icon Making of a milestone
        763 20  -  BMW celebrates the 25th anniversary of the launch of its fabled M3 series. By Samuel Ee By Samuel Ee samuelee@sph.com.sg TWENTY-FIVE years after the first BMW M3 captivated boy racers and serious enthusiasts alike with its power and electric handling, the Munich-based carmaker marked this milestone
        763 words
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      38 16/17 Standings after Round 1 1 Asia Pacific Breweries 109 2 KPMG 109 3 CIMB 107 4 Deloitte 107 5 DBS Vickers 106 6 OAAG 104 7 Audi 103 8 Centurion 100 9 ParkwayHealth 100 10 Big Fish 98
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