The Business Times, 21 August 2010

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Microfilm: NL30858
Total Pages: 46
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    18 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg August 21 -22, 2010 S$1.00 MICA(P) 124/08/2009 sph A SINGAPORE PRESS HOLDINGS PUBLICATION
    18 words
  • Article, Illustration
    Lock icon First Chevron House, then Hitachi Tower
    634 1  -  Deals involving the two prominent buildings may shake up the office market By Kalpana Rashiwala kalpana@sph.com.sg Singapore CHEVRON House could be the next big office deal on the cards, say market watchers. This follows the sale of about $1.9 billion worth of office blocks
    YEN MENG JIIN  -  634 words
  • Article, Illustration
    Lock icon ‘Crust’ of the matter – cafe vs a pizza giant
    786 1  - ‘Crust’ of the matter cafe vs a pizza giant By Grace Leong gleong@sph.com.sg Singapore ONE is a little cafe located within Costa Del Sol, a condominium complex in Singapore’s laid-back East Coast. The other is a 62-store Australian gourmet pizza chain with big expansion plans in Asia, including Singapore. Until
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      Lock icon Page 1 Advertisements Column 1
      203 1 the business times www.businesstimes.com.sg August 21 -22, 2010 S$1.00 MICA (P) 124/08/2009 PERSPECTIVE Strategy behind Google's birth 28-29 The Raffles Conversation JIGNESH SHAH, VICE-CHAIRMAN, SMX 8-9 BT CORPORATE GOLF OAAG and Big Fish hold top honours L16-17 stock count Commodity traders eye SGX listing THEY and European shipping firms are
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  • TOP STORIES
    • Article
      Lock icon Getting sued on Facebook? Hang on while I tweet that
      682 2  -  saturday soapbox| By Michelle Quah michquah@sph.com.sg THE problem with having a successful idea is that everyone wants to be a part of it. The staggering success of social media platforms has meant that everyone from US President Barack Obama to
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    • Article
      Lock icon MARKETS
      137 2 STI 2,936.48 (-10.29) STI FUTURES 2,932 (-8) SIMSCI 345.47 (-1.67) SIMSCI FUTURES 344.60 (-1.30) STOCKS Friday Change KL COMP 1,395.02 +2.46 NIKKEI 225 9,179.38 -183.30 HANG SENG 20,981.82 -90.64 SET 893.92 +2.69 JAKARTA 3,117.72 +12.37 MANILA 3,593.60 +33.21 KOSPI 1,775.54 -4.10 SHENZHEN B 657.33 -3.84 MUMBAI IND 18,401.82 -53.12
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    • Article
      Lock icon Will Paul the Octopus do it again?
      172 2 Bloomberg London THE team bidding to bring soccer’s World Cup to England for the first time since 1966 has signed up a new supporter: Paul the Octopus. The English-born aquatic oracle gained a global profile in June after accurately predicting the result of
      Bloomberg  -  172 words
    • Article, Illustration
      Lock icon Not enough credit for Asian growth story: UBS ED
      505 4  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore INVESTORS are not giving the Asian growth story sufficient credit as the region deserves a higher market premium, said Andrew Gates, executive director and senior international economist of UBS Investment Bank. The bullish note on Asia
      ARTHUR LEE  -  505 words
    • Article
      Lock icon Commodity, shipping firms eye SGX listings
      476 4  -  Flotations may happen in months By Jamie Lee leejamie@sph.com.sg Singapore THE Singapore Exchange (SGX) expects some large global commodity trading firms and European shipping companies to list their Asian operations here in the next few months, an SGX senior executive said yesterday. “Commoditiesareinteresting because
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    • Article
      Lock icon SMX, BT tie up to produce magazine
      323 4  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore SINGAPORE Mercantile Exchange (SMX) and The Business Times are collaborating to produce a quarterly magazine, SMX Markets, dedicated to providing panAsian coverage on commodities and currency derivatives. This comes against the backdrop of an expected rise in interest
      323 words
    • Article, Illustration
      Lock icon Australia’s ‘Mad Monk’ scents election shock
      547 5 Tony Abbott has morphed from a figure of fun to sober statesman AFP Sydney AUSTRALIA’S conservative opposition leader Tony Abbott has successfully tempered his image as a gaffe-prone “Mad Monk” to draw within sight of a remarkable election win today. The London-born Rhodes Scholar
      AFP  -  547 words
    • Article
      Lock icon Grounded RWS ride may restart in early-2011
      359 6  -  RWS also details preliminary findings about the defect that led to ride’s closure By Nisha Ramchandani nishar@sph.com.sg Singapore THE Battlestar Galactica (BSG) ride will hopefully take flight early next year, Resorts World Sentosa (RWS) said yesterday. The roller coaster, a star attraction of
      359 words
    • Article
      Lock icon Aussie pizza chain plans to open 11 more outlets here
      347 6  -  S’pore will be its launchpad for foray into region By Grace Leong gleong@sph.com.sg Singapore AN Australian gourmet pizza chain is setting its sights on opening up to 11 more restaurants in Singapore by the end of 2011, as part of
      347 words
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      59 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10,12-14 Philanthropy 11 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 LIVING Travel L2-7 Dining L8-11 Style L12 Gadgets
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      151 3 FREEHOLD When boundaries are pushed... When you are free to express yourself... When living zones are redefined... New 23 rd floor loft apartments for sale A prime investment opportunity with no restrictions on foreign ownership Attractive prices from 1,650 psf Call *****000 or visit our showflats at 83 Cairnhill Road
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      65 4 GOOD CLRSS pUNGflLOUJ LflNP FOR R6BUILD @NRSSIM RORD cing m Frontage ard View Nassirn^ Rectangi Face Grei South/Ei NASSIM PLOT B ***** sq ft 60m Frontage Flat Elevated Land Face Greenery Almost sold NASSIM PLOT C ***** sq ft Hill Top Quiet, Serene 3mins walk to Botanic Garden Can also
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      493 5 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS TENOR APPROXIMATELY 20 YEARS TOTAL AMOUNT OFFERED SGD 2,000,000,000 MINIMUM DENOMINATION SGD 1,000 MAS' INTENDED TENDER AMOUNT** SGD 200,000,000 ISSUE CODE NZ*****F ISIN CODE SG7U*****426 ISSUE DATE/SETTLEMENT DATE 1 SEPTEMBER 2010 MATURITY DATE* 1 SEPTEMBER 2030 COUPON RATE
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      42 6 NOTICE Notice is hereby given that Chan Yong Meng Lionel of NRIC No. Sxxxx726A is no longer an employee of Swiftronic Pte Ltd effective 18th August 2010. He is therefore not authorized to transact any business on behalf of Swiftronic Pte Ltd.
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | Aug 16-20, 2010
      • Article
        Lock icon Autron evicted from its S’pore HQ
        50 7 AUTRON Corporation a mainboard listing that was once linked to Temasek Holdings has been evicted from its headquarters in Singapore after failing to pay rent, BT has learnt. This is the latest in a string of credit and legal problems faced by the company.
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      • Article
        Lock icon Celestial posts rare ‘negative revenue’
        56 7 CELESTIAL Nutrifoods which made headlines last year for defaulting on convertible bonds worth more than $200 million has posted what it called “negative revenue” for its second quarter, an item not often seen in financial statements. The S-chip also duly delivered the “huge losses” it
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      • Article
        Lock icon Game-changer for rail industry chugs into view
        71 7 THE government will amend the Rapid Transit Systems (RTS) Act to implement a new rail financing framework and inject greater contestability in the industry. In her second reading speech on The Rapid Transit Systems Amendment (2010) Bill, Second Minister for Transport Lim Hwee
        71 words
      • Article
        Lock icon SMX to go live on Aug 31 with Asian bet
        66 7 THE Singapore Mercantile Exchange (SMX) is expected to go live on Aug 31 and will soon add two currency products the Aus- tralian dollar-US dollar futures and the yen-US dollar futures to its current suite of four products, SMX chief
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      • Article, Illustration
        Lock icon China dislodges Japan as 2nd largest economy
        88 7 AFTER three decades of spectacular growth, China overtook Japan in the second quarter to become the world’s second-largest economy behind the US. The milestone, though anticipated for some time, is the most striking evidence yet that China’s ascendance is for real and that
        AFP  -  88 words
      • Article
        Lock icon Golden Agri seeks solace in Liberia
        37 7 WITH environmental group Greenpeace hot on its heels in homeland Indonesia, Golden Agri Resources is looking more seriously at a reported US$1.6 billion diversification of its palm oil operations to Liberia.
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      • Article
        Lock icon Chinese state firm sinks roots in S’pore
        61 7 A CHINESE state-owned enterprise is quietly growing its global footprint out of a nondescript industrial building in the leafy suburbs of Bukit Batok. The 19th floor has been taken up by China Metallurgical Group Corporation (MCC), which has businesses stretching across natural resource
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      • Article
        Lock icon As Sembmarine, PPL fight, a Keppel link emerges
        64 7 THE Keppel Group may have played a role in a string of events that eventually led to the ongoing dispute between Sembcorp Marine and PPL Holdings over a 15 per cent stake in PPL Shipyard. Court documents filed by SembMarine gave Keppel
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      • Article
        Lock icon Call for land tenders that go beyond price
        57 7 SINGAPORE may have a greener tinge and a vastly more interesting skyline, if the suggestions contained in the final reports by two focus groups for Concept Plan 2011 see the light of day. There is, for example, a call to review the
        57 words
      • Article
        Lock icon Office market crackles as banks go hunting for space
        35 7 THE Singapore office market is buzzing with leasing interest as banks and other occupiers expand their operations and plan moves to new Grade A office buildings.
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      • Article
        Lock icon M’sia nears end of fast lane with 8.9% Q2 growth
        49 7 MALAYSIA’S economy decelerated in the second quarter, registering 8.9 per cent growth in real gross domestic product terms from the 10.1 per cent chalked up in the first quarter. Even so, it beat the street’sestimate of8.1 per centrelatively comfortably.
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      • Article
        Lock icon And the awards goes to ... bulls with a sense of timing
        57 7 And the awards goes to bulls with a sense of timing WALLS were closing in on all sides early last year for sell-side analysts as they battled poor market sentiment and the nagging scepticism surrounding the independence of their research. But many have prov- en to be right on the
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    • NEWT WEEK | Aug 23-27, 2010
      • Article
        Lock icon US DATA
        27 7 Aug 24 July existing home sales Aug 25 July durable orders July new home sales Aug 26 Aug 21 initial claims Aug 14 continuing claims
        27 words
      • Article
        Lock icon SINGAPORE DATA
        28 7 Aug 23 July consumer price index Aug 26 July index of industrial production Aug 27 July producer and international trade prices indices Q2 business receipts index
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      • Article
        Lock icon EVENTS
        23 7 Aug 23 Tokyo Japanese PM Naoto Kan and BOJ governor Masaaki Shirakawa to meet to discuss the yen’s strength and possible responses
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  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      311 7 CRYPTIC CROSSWORD Across 1 Mean to be ready to fight (5-6) 9 Train from Eton, perhaps, going to university at right time (9) 10 Girl providing passion to one lacking love (5) 11 Prompt delivery (6) 12 Co-operate to meet delivery (4,4) 13 Last resting places for wine (6) 15
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      18 7 SATURDAY with Ludwig ‘This 3-star hotel has the looks of a 5-star since room rates have gone up...’
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The exchange builder
      2141 8/9  -  Jignesh Shah has built a financial and technological empire that includes 10 stock and commodity exchanges. By Vikram Khanna vikram@sph.com.sg ON Aug 31, trading will begin on a new commodity and currency exchange in Singapore, the Singapore Mercantile Exchange (SMX). Its creator, an Indian company called the
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  • COMPANIES
    • Article, Illustration
      Lock icon ART buys 28 properties from The Ascott
      829 10  -  The $969.6m purchase will boost assets by 1.8 times; analysts surprised by size of transaction By Emilyn Yap emilyny@sph.com.sg Singapore ASCOTT Residence Trust (ART) is buying 28 properties from its sponsor, The Ascott Limited, for $969.6 million, and selling one to the latter
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    • Article
      Lock icon HupSteel’s Q4 profit up 62%; Union Steel’s doubles
      563 10  -  Both companies cautious on demand outlook By Nisha Ramchandani nishar@sph.com.sg Singapore THE demand for steel is not expected to pick up pace in the short term. “Aseconomic growthis anticipated to slow down in the second half of 2010, market demand for steel
      563 words
    • Article, Illustration
      Lock icon How best to give
      1167 11  -  Mary Ann Tsao, who runs her family’s Tsao Foundation, on the art of giving. By Teh Shi Ning BEACONS OF PHILANTHROPY family’s giving.By Teh Shi Ning tshining@sph.com.sg PHILANTHROPY may involve giving away family wealth, but the families behind many of Asia’s successful businesses are starting to
      ARTHUR LEE  -  1,167 words
    • Article, Illustration
      Lock icon Asian bourses knocked by US jobs and business confidence data
      469 12  -  STOCKS| Ven Sreenivasan ven@sph.com.sg Senior correspondent THE latest figures from the US, showing rising joblessness and falling business confidence, weighed heavily on Asian markets yesterday just when it seemed they were poised to recover. A triple-digit drop for the Dow
      469 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 12 VOL CLOSE GentingSP 79,222 150 -3.0 -2.0 Informatics 59,779 16.5 -1.5 -8.3 SoundGlobal 47,150 74.5 -2.5 -3.2 BakerTech 40,260 45 1.5 3.4 GoldenAgri 34,754 55.5 -1.0 -1.8 Consciencefood 31,774 24 -1.0 -4.0 *GentingHKUS$ 26,271 29 1.4 3.6 StyleMerc 24,830 4 0.0 0.0 Oceanus 22,669 34.5 0.0 0.0
      110 words
    • Article
      Lock icon STI STOCKS
      108 12 Stock name Close Change CapMallsAsia 2.110 CapitaLand 4.050 CapitaMall 1.970 CityDev 11.940 ComfortDelGro 1.530 -0.010 DBS Grp 13.960 -0.140 F&N 5.500 -0.060 Genting SP 1.500 -0.030 Golden Agri 0.555 -0.010 HK Land 5.410 -0.090 JMH 42.620 +0.880 JSH 24.260 -0.040 Jardine C&C 33.000 -0.820 Keppel Corp 8.750 -0.050
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    • Business briefing
      • Article
        Lock icon GRP full year net profit dips 3.1% to $4.06m
        52 12 GRP says its net profit for the year ended June 30 slipped 3.1 per cent to $4.06 million. Sales of goods rose 1.4 per cent to $25.59 million. The group said it believes market conditions will remain challenging for the next
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      • Article
        Lock icon Singapura Finance full year net profit doubles
        161 12 SINGAPURA Finance says its net profit for the full year ended June 30 surged 95.7 per cent to $11.88 million, driven by a lower allowance for loan losses and healthy growth in the operating profit before allowances. There was a net write-back of
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    • Article
      Lock icon TOP GAINERS
      60 12 BY CENTS CLOSE UP DBXT MSKorea 10US$ 4796 253.2 4.1 DBXT S&P Short 10US$ 5388 123.2 1.7 JMH 4262 119.1 2.1 DBXT MSCHINA 10US$ 1198 54.2 3.5 DBXT MSTHAI 10US$ 1301 21.7 1.2 UOB 1880 14.0 0.8 GLD 10US$ ***** 10.8 0.1 Asia Pac Brew 1580 10.0 0.6
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    • Article
      Lock icon TOP LOSERS
      65 12 BY CENTS CLOSEDOWN DBXT EONIA 5US$ ***** -752.7 -3.0 DBXT FTVietnam 10US$ 3684 -116.4 -2.3 Jardine C&C 3300 -82.0 -2.4 DBXT Nifty 10US$ ***** -66.3 -0.4 DBXT E50 10US$ 3700 -62.3 -1.2 STXPO 100 1424 -38.0 -2.6 DBXT CSI300 10US$ 920 -23.0 -1.8 Lyxor China H 10US$ 1515
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    • Article
      Lock icon August turning into major merger month
      789 13 If the pace thus far continues, the total for the month would hit US$285b as companies flush with cash dig deep into their war chest Bloomberg New York COMPANIES sitting on almost US$3 trillion in cash are starting to spend it, putting what is
      Bloomberg  -  789 words
    • Article
      Lock icon Olam in Gabon tie-up to develop timber SEZ
      267 13 Group to put in US$12m equity for 60% in JV vehicle; Gabon govt to hold 40% Singapore OLAM International, a global integrated supply chain manager and processor of agricultural products and food ingredients, has entered into a strategic partnership agreement with the
      267 words
    • Article
      Lock icon SIA pledges US$3m to Indonesian rainforest project
      412 14  -  The Harapan initiative marks its first major involvement in a large-scale green project in S-E Asia By Yen Pei Wen pwyen@sph.com.sg Singapore AN Indonesian rainforest 1.5 times the size of Singapore got a leg up yesterday after Singapore Airlines pledged US$3 million towards
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      500 12 adv IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ENG HUAT PRIVATE LIMITED Company Registration No. *****0287M (In Members’VoluntaryWinding-Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap.50, that a Final Meeting of the Membersoftheabovenamed Company
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Resourcing for the future
      1149 15  -  Organisations are recognising that to outsource resourcing or to bring in expertise from specialist partners is the smart choice in the war for talent from the desk of Rosaleen Blair Chief Executive Officer and Founder, Alexander Mann Solutions AS the economy in Asia becomes increasingly knowledge
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  • SINGAPORE
    • Article, Illustration
      Lock icon Panel’s building productivity tips
      439 16  -  Public sector projects taking the lead may encourage industry to adopt good practices, it says By Rachel Sim rachsim@sph.com.sg FOREIGN workers need to be upgraded continually while locals should join a formalised apprenticeship programme in order to raise retention rates within the construction industry. These were
      FILE PHOTO  -  439 words
    • Article, Illustration
      Lock icon Asian film makers have fewer financing avenues
      539 16  -  By Victoria Ho vhoip@sph.com.sg ASIANfinancialinstitutionsdon’tbelievetheregion’s filmindustryhasas much financial promise as their counterparts do in the West, said Hyde Park Entertainment CEO Ashok Amritraj. “Banks are not as involved in motion picture financing here as they are in North America or Europe,” he said.
      FILE PHOTO  -  539 words
    • Article, Illustration
      Lock icon Govt to explore ways to improve YOG ticketing situation
      564 17  -  Fans can’t get tickets although venues are not full By Lee U-wen leeuwen@sph.com.sg THE government will look at ways to better manage the ticketing situation at the Youth Olympic Games (YOG) after scores of fans have complained of being frozen out
      SPH-SYOGOC/YUSUF ABDOL HAMID  -  564 words
    • Article, Illustration
      Lock icon Cavinder Bull appointed deputy chairman of SIAC
      364 18  -  Senior Counsel replaces Sundaresh Menon, who will become Attorney-General in Oct By Michelle Quah michquah@sph.com.sg SENIOR Counsel Cavinder Bull has been appointed deputy chairman of the Singapore International Arbitration Centre (SIAC). He replaces Senior Counsel Sundaresh Menon, who will become Singapore’s Attorney-Gen-eral in
      DREW & NAPIER  -  364 words
    • Article, Illustration
      Lock icon Downtown line to cost more, but will be longer
      344 18  -  By Melissa Tan melissat@sph.com.sg THE Downtown Line will be longer, and is expected to cost more. The Land Transport Authority yesterday announced the alignment of the final phase of the Downtown Line, which will have one more station than originally planned.
      FILE PHOTO  -  344 words
    • Article
      Lock icon JTC offers two sites for sale by tender
      205 18  -  By Melissa Tan melissat@sph.com.sg JTC said yesterday that two sites at Yishun and the Biopolis will be put up for sale by tender. The site at Yishun Street 23/Yishun Avenue 9 is 4.65 ha and has a 60-year lease. Near Yishun Industrial
      205 words
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      321 17 ASCOTTRESIDENCETRUST (Constituted theRepublic Singaporepursuant trustdeeddated19January2006 (asamendedandsupplemented)) NOTICEOFEXTRAORDINARYGENERALMEETING NOTICE HEREBYGIVEN that anEXTRAORDINARYGENERALMEETING(the EGM)” ”)o fo of Ascott ResidenceTrust AscottREIT)” willbeheld JubileeHall,Level Raffl HotelSingapore, Beach Road,Singapore*****3on September2010 10.00a.m.forthepurpose consideringand, thought passing,wi withoutmodifications,thefollowingresolutions: ORDINARYRESOLUTION .1 1. THEPROPOSEDACQUISITIONOFINTERESTSINSERVICEDRESIDENCEPROPERTIESIN SINGAPORE,VIETNAMANDEUROPEANDTHEPROPOSEDDIVESTMENTOFINTERESTIN AA SERVICEDRESIDENCEPROPERTYINTHEPEOPLE’SREPUBLICOFCHINA RESOLVEDthatsubject andcontingentuponthepassing Resolutions and i (i) approvalbeand herebygivenfortheacquisition twoservicedresidenceproperties ni n in Singapore
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  • WORLD
    • Article, Illustration
      Lock icon US plants shield Honda profits as yen jumps
      994 19 Every one-yen gain by the Japanese currency against the dollar cuts annual operating profit by 16b yen at Honda Bloomberg Los Angeles HONDA Motor Co became the first Japanese carmaker to build cars in the United States 28 years ago in part
      Bloomberg; BLOOMBERG  -  994 words
    • Article
      Lock icon Cambodia: Don’t neglect potential of the Mekong
      216 19 AFP Hanoi NATIONS around the Mekong are tightening transport and other links but have neglected the region’s very heart the river itself, a Cambodian minister said yesterday. At a meeting of the six countries surrounding the Mekong, Cham Prasidh said the potential of
      AFP  -  216 words
    • Article
      Lock icon Petrobras’ July oil-gas production up 3.3%
      273 19 Xinhua Rio De Janeiro BRAZIL’S state-owned oil and gas giant Petrobras announced on Thursday that its average oil and natural gas production in July rose by 0.7 per cent from the previous month and 3.3 per cent compared with the same period of 2009.
      Xinhua  -  273 words
    • Article
      Lock icon Anshan committed to moving ahead with US project
      248 20 Reuters Hong Kong CHINA’S Anshan Iron Steel Group Corp said it was committed to pushing forward with a US steel project, a day after an executive of its listed unit said the deal was on hold due to opposition from US lawmakers.
      Reuters  -  248 words
    • Article
      Lock icon Govt sees German recovery easing in H2
      361 20 Finance ministry expects stimulus from foreign demand to dip slightly Reuters Berlin GERMANY’S recovery will likely continue in the second half of the year although at a slower pace as foreign demand decelerates, the German Finance Ministry said in its monthly report yesterday.
      Reuters  -  361 words
    • Article, Illustration
      Lock icon China must balance social, economic development: UN official
      722 21 It should tackle rural-urban divide, to ensure prosperity is not just an urban phenomenon Xinhua Bangkok THE chief of the United Nation’s Asia-Pacific regional arm sees China still needing to balance its economic and social development for further sustainable growth even as
      Xinhua; FILE PHOTO  -  722 words
    • Article
      Lock icon Korea National Oil makes £1.87b bid for UK explorer
      614 21 Hostile bid for Dana after takeover offer was rejected Bloomberg Seoul KOREA National Oil Corp made a hostile £1.87 billion (S$3.9 billion) bid for UK explorer Dana Petroleum plc after its takeover offer was rejected. The state-owned energy explorer offered 1,800
      Bloomberg  -  614 words
    • Article, Illustration
      Lock icon Japan in touch with G-7 ‘over rising yen’
      709 22  -  Economists scale back forecasts for Japan’s GDP growth this year and in 2011 amid fears of a double-dip recession By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN began communicating with its Group of Seven (G-7) partners yesterday in what was seen as a prelude
      REUTERS  -  709 words
    • Article
      Lock icon Maybank posts record RM3.8b profit
      418 22 Bloomberg Reuters Kuala Lumpur MALAYAN Banking Bhd reported record full-year earnings as Malaysian bank profits rebounded with the country’s economy after last year’s recession. Net income at Maybank jumped more than fivefold to RM3.82 billion (S$1.65 billion) in the 12 months ended June 30, up
      Bloomberg; Reuters  -  418 words
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      136 20 INVEST FAIR 2010 21-22 August Marina Bay Sands Singapore, Sands Expo and Convention Center B2, Exhibition Hall E SSoLMMIIN GEPIVC M jm S-iSSSBSg I W H,NG0UT 1®?°Vfonhyorihefv^W Saint Pten*®* 11 < YOUNG iHVtSTORS TV No needj* unhvwJ *****5,1 3 7 Accounting to get "*"> CO... Ending Build s High F
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  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
      28 22 ft tk Lianhe Zaobao Taiwanese investment guru Hu Liyang: World stock markets unlikely to soar or slump for now ■A.; To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      28 words
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  • MARKETS
    • Article
      Lock icon Untitled
      3314 25 Transaction date: Aug 20 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 OCBC Bk 4.5%NCPS 100 ***** -10 3 ***** ***** ***** ***** 506 ***** 9900 OCBC Bk 5.1%NCPS 100 ***** -20 13
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    • Article
      Lock icon Untitled
      2359 24 Transaction date: Aug 20 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 308 164 5125 Golden Ocean 197 190 195 1.6 900.3 189 94 1906 Goodpack 189 +4 4741 189 184 189 190
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    • Article
      Lock icon Untitled
      3300 23 Transaction date: Aug 20 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 12.5 3148 8Telecom 18.5 unch 767 18.5 18.5 18 19 1.7 9.8 5.9 88.6 12 6 5834 A-Sonic 7.5xbi unch
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    • Article
      Lock icon SGX CATALIST
      1825 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 9 5 1181 t AA Grp 5 5 5.5 27.8 4.8 225 130 6222 t APStrategic 187 175 189 111 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 4 11 1 0 0 0 4 11 1 Manufacturing 35 55 88 5 8 11 40 63 99 Commerce 9 24 30 3 4 5 12 28 35 Tpt/Stor/Comms 8 20 14
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      Lock icon BT SHARE INFORMATION SERVICE
      821 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Aug 16 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) MTQ Corp 19-Aug-10 Kuah Kok Kim Buy 96 0.86 ***** 25.55 ***** 25.66 S'pore Land 19-Aug-10 John
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      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,374 11,374 41,700 41,700 Manufacturing 343,283 41,605 384,888 207,642 4,153 211,794 Commerce 84,544 46,857 131,401 99,281 6,146 105,427 Tpt/Stor/Comms 74,615 1,918 76,533 125,488 61 125,549 Finance 16,114 40 16,154 165,666 5 165,672 Construction 10,038 13,904
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      Lock icon FOREIGN CURRENCY NOTE RATES
      127 27 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1970 1.2330 Can dollar 1.2960 1.3110 Euro 1.7250 1.7460 NZ dollar 0.9500 0.9710 Sterling pound 2.0990 2.1240 US dollar 1.3470 1.3630 Local dollars to 100 units of foreign currency: Currencies Bid Offer Chi
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      Lock icon STOCK MARKETS
      93 27 YTD change:+1.34% 52-week high: 3,043.28 on Aug 3,2010 52-week low: 2,529.99 on Aug 20,2009 Source: Bloomberg YTD change: -4.07% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 18,971.50 on May 27,2010 Source: Bloomberg Bloomberg YTD change: -1.50% 52-week high: 11,258.00 on April 26, 2010 52-week low: 9,252.93 on
      Source: Bloomberg  -  93 words
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      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 19 Index Change Change Change Change Change Change World Index Preliminary 794.7 -1.3 -4.5 -1.1 -8.8 -1.2 -5.4 ‡EAFE Preliminary 740.8 -0.8 -5.6 -0.4 -10.9 -0.6 -7.6 Europe Preliminary 1074.5 -1.6
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      Lock icon INTERBANK CURRENCY RATES
      154 27 Aug 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2057 1.2072 0.8906 0.8909 Canadian dollar 1.3004 1.3021 0.9605 0.9610 Euro 1.7356 1.7374 1.2820 1.2822 NZ dollar 0.9546 0.9558 0.7051 0.7054 Sterling pound 2.1053 2.1078 1.5551 1.5556
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      Lock icon LIFFE
      82 27 Aug 19 COCOA (£/tonne) Close Prev High/Low Sep 10 2066 2072 2085/2063 Dec 10 2014 2025 2029/2005 Mar 11 2034 2039 2044/2022 May 11 2047 2052 2055/2036 COFFEE (US$/tonne) Close Pev High/Low Sep 10 1711 1712 1726/1704 Nov 10 1751 1753 1766/1745 Jan 11 1764 1766 1775/1758 Mar 11
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      Lock icon CHICAGO BOT
      93 27 Aug 19 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Sep 10 1016.*****5.*****3.*****2.50 Nov 10 1012.*****0.*****9.*****6.75 Jan 11 1019.*****7.*****5.*****3.75 Mar 11 1024.*****0.*****8.*****8.50 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Sep 10 39.89 40.86 41.04 39.74 Oct 10 40.07 41.03 41.21 39.92 Dec 10 40.48 41.45 41.69
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      Lock icon PALM OIL
      66 27 Aug 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 10 2695 2706 2715 2689 498 6024 Oct 10 2575 2608 2621 2575 3007 ***** Nov 10 2557 2544 2566 2533 ***** ***** Dec 10 2545 2531
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      Lock icon OIL
      75 27 Aug 19 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 75.41 -0.38 WTI (Near Mth) 74.43 -0.85 Dubai (1-Mth F) 74.80 0.38 Tapis blend 81.80 0.55 Minas 76.95 0.50 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 74.50 0.95 Jet Kerosene 86.05 -0.10 US$/barrel Opec Oil Basket Price
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      Lock icon METALS
      66 27 Aug 20 GOLD (US$/oz) Aug 19 Aug 20 Hong Kong 1229.*****0.80 Aug 18 Aug 19 London 1224.*****3.90 1225.*****4.90 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.94 24.72 Source: UOB PLATINUM Lon (US$/oz) Aug 19 Close Previous PM Fix 1540.*****7.00 AM Fix 1536.*****3.00 Source: Thomson Reuters PLATINUM NYMEX
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      Lock icon LONDON METALS
      71 27 Aug 19 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2060.00 2103.25 3 months 2066.00 2105.00 Copper, Grade A (US$/tonne) Cash 7286.25 7368.75 3 months 7305.00 7390.00 Lead (US$/tonne) Cash 2078.75 2095.75 3 months 2105.00 2123.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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  • PERSPECTIVE
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      Lock icon Learn the successful strategy behind Google’s birth
      1480 28 / 29  -  Forget creative stimulation and brainstorming. Brain science gives us techniques such as reverse brainstorming and the insight matrix. By William Duggan matrix.By William Duggan William Duggan is a professor at Columbia Business School, where he teaches strategic intuition in graduate and executive courses.
      BLOOMBERG  -  1,480 words
    • Article
      Lock icon Time to end debate on renewable energy
      770 28 / 29  -  Utilities, public should be made to stick to the energy, whatever the price of oil By Dennis Posadas Dennis Posadas is the author of Jump Start: A Technopreneurship Fable (Singapore: Pearson Prentice Hall, 2009) and has a new business fable on clean energy
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  • Wealth
    • WEALTH INVESTING
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        953 30 / 31  -  Fund managers are facing problems with capital preservation and sovereign risk. By Genevieve Cua By Genevieve Cua gen@sph.com.sg MARKET volatility has boosted inflows into fixed income funds as investors seek stability. But the managers of those funds face challenges on a number of fronts. Capital preservation, for
        STOCK.XCHNG; Source: Datastream and AllianceBernstein; Source: CEIC, BofA Merrill Lynch Global Research  -  953 words
      • BROKERS' TAKE
        • Article
          Lock icon Singapore Strategy
          427 30 / 31 DBS Vickers Securities THERE are significant earnings upgrades for the consumer services sector. Despite 85 per cent of earnings coming in within or above expectations, we saw a series of downgrades across the board, except for consumer services, supporting our bullish stance in this sector in the past
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          Lock icon ASL Marine Holdings
          351 30 / 31  -  Outperform CI MB Securities Aug 19 Aug 20 close: $0.87 Compiled by Jamie Lee FY2010 net profit of $37 million (-48 per cent year-on-year, or y-o-y) is 10 per cent below our expectation and consensus, due to higher depreciation and interest expense and lower-than-expect-ed associate contributions. We
          351 words
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        Lock icon ‘Quant’ funds strive to revive boom times
        1003 32  -  After a plunge in their assets in recent years, they are reworking their computer models. By Julie Creswell By Julie Creswell NYT New York THEY were revered as the brightest minds in finance, the“quants”whocouldoutwit Wall Street with their PhDs and superfast computers. But
        NYT; BLOOMBERG  -  1,003 words
      • Article, Illustration
        Lock icon Gauging market values from the ERP lens
        1004 33  -  S-E Asian markets’ equity risk premiums, due to recent run-up in their stocks, aren’t at their most attractive levels show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder SOUTH-EAST Asian stock markets staged a resurgence this
        Source: Compiled by BT with data from Bloom berg and Thomson Reuters  -  1,004 words
    • WEALTH REAL ESTATE
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      Lock icon Page 34 Advertisements Column 1
      67 34 Featuring the Prestige Homes Collection Marina Collection Seritosa Cove Ari Unrivalled lVlarina Experience To arrange for an appointment to view our show unit, please contact Gladis Heng 9387 4624, George Tan 9792 8913 For other luxurious developments, please call 6836 3338 or search with us at savills Savills has more
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      38 36 J" iuDEMARS Piglet Le maitre de Vhorlogerie depuis 1875 B 1 0 s mu 3 0n 8 ■n/ Aur OOf O AT/Q m cd o i ROYAL OAK OFFSHORE DIVER SELFWINDING For enquiries, Tel: (65) 6238 6678 www.audemarspiguet.com
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      52 1 LivingTHEBUSINESSTIMESWEEKEND|AUGUST21-*****0BTTHE BUSINESS TIMES WEEKEND AUGUST 21-22 2010 TRAVEL Lazy days of summer L6-7 DINING Fish alive! L10-11 ROOM WITH A VIEW Boutique hotels that double up as art galleries L2-5 GADGETS A tale of two Germans L13 GOLF Neck and neck L16-17 MOTORING Mega fun L20 HEALTH Au natural L14-15
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  • BT Living
    • TRAVEL
      • Article, Illustration
        Lock icon Room with a view
        3313 2 / 3  -  It’s great to visit galleries when you travel, but a more immersive way to indulge in art would be to stay somewhere that lives and breathes the form. Several boutique hotels and residences in Asia are making art accessible to their guests, either through their private
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        Lock icon Artists in residence @ Malihom
        515 4 / 5 Artists in residence Malihom A GIGANTIC spider is most likely to feature in Thomas Powell’s paintings when he’s done with his residency at Malihom. And probably a praying mantis or two. “I can deal with most other insects, but not spiders!” shudders the 24-year-old Briton, who started his six-month residency
        515 words
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        Lock icon Lazy days of summer
        1379 6 / 7  -  Who on earth works in Paris in August? Well, reporters who must go to a fun fair, attend a night film festival and lie on a makeshift beach. By Clarissa Tan btnews@sph.com.sg IT'S 11am when you finally tumble out of bed, sick at heart with the
        PHOTOS: CLARISSA TAN  -  1,379 words
    • DINING
      • Article, Illustration
        Lock icon Lip-smacking goodness
        1697 8 / 9  -  KL’s many different versions of the humble laksa. By Joyceline Tully By Joyceline Tully btnews@sph.com.sg HEGIVESthepearlywhitenoo-dles a few expert swirls in the bubbling water, then deftly scoops them up into cheap, melamine bowls. Behind him, two big vats sit over makeshift stoves, each bearing simmering broths, one inky
        PHOTOS BY JOYCELINE TULLY  -  1,697 words
      • Fish alive!
        • Article, Illustration
          Lock icon Great Atlantis Seafood
          1134 10 / 11  -  600 Ponggol Seventeenth Avenue Marina Country Club. ?6386 0600 If you’re looking for old-fashioned fresh seafood, two new places are re-inventing the rustic dining experience By Jaime Ee jaime@sph.com.sg HERE’S an interesting tidbit about giant garoupers that you may never have thought to ask. They enjoy being
          GREAT ATLANTIS PHOTOS BY YEN MENG JIIN  -  1,134 words
        • Article, Illustration
          Lock icon Ocean Kingdom
          680 10 / 11  -  Live Seafood Restaurant 382 Joo Chiat Road ?6342 0382 www.oceankingdomseafood.com (website to launch next week) By Audrey Phoon aphoon@sph.com.sg PRODUCE provenance is becoming an increasingly big issue as more diners take interest in knowing where their food hails from. And at Ocean Kingdom, the answer’s really simple: it
          680 words
    • STYLE
      • Article, Illustration
        Lock icon Mulberry’s bag specialist
        831 12  -  Emma Hill rescued the English heritage brand from a rut with her chic yet cheeky creations, eye-catching hues and above all her stylish yet sensible bags. By Audrey Phoon aphoon@sph.com.sg ENGLISH heritage brand Mulberry has a past embroidered with tumultuous times and ownership tussles. But for fashionistas,
        831 words
    • GADGETS
      • Article, Illustration
        Lock icon A tale of two Germans
        905 13  -  The latest from Sennheiser and Beyerdynamic offer great sound quality for travellers. By Christopher Lim By Christopher Lim limchris@sph.com.sg THERE’S nothing like lineage to inspire confidence, and German companies Sennheiser and Beyerdynamic both helped create the headphone industry they now operate in. Fritz Sennheiser started
        905 words
    • HEALTH
      • Article, Illustration
        Lock icon Au naturel
        1925 14 / 15  -  BT tracks down the most natural skincare labels in the market. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg IN THE world of beauty today, the word “natural” has become a catchphrase that many cosmetics companies have latched onto, all in a bid to appeal to increasingly health-conscious consumers.
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      • Article
        Lock icon wine & dine with BTWeekend
        713 14 / 15 wine dine with BTWeekend Bar on 5 Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage
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    • BT CORPORATE GOLF LEAGUE 2010
      • Article, Illustration
        Lock icon Neck and neck
        556 16 / 17  -  OAAG and Big Fish hold top honours on 220 points. By Justine Moss By Justine Moss THE weather Gods were smiling at the start of The Business Times Corporate Golf League’s second round on Laguna National Golf Country Club’s Masters course last Wednesday. The incessant rain, which
        556 words
      • Article, Illustration
        Lock icon Master tamers
        884 16 / 17  -  By Justine Moss btnews@sph.com.sg EXCELLENT team strategies by OAAG and Big Fish in last Wednesday’s Business Times Corporate Golf League saw them leapfrog into joint first position on the ladder. The game at Laguna National Golf Country Club saw 25 prominent local companies take to the fairways of
        PHOTOS BY ARTHUR LEE  -  884 words
      • Article
        Lock icon A trip to the WGC final awaits
        314 16 / 17 THE incentive to win The Business Times Corporate Golf League just got greater with the announcement that World Golfers Championship (WGC) www.wgc-sin-gapore.com will sponsor two golfers from the champion team after the six rounds to play in this year’s WGC final in Hua
        314 words
    • SPORT
      • Article, Illustration
        Lock icon Bonanza for sports fans
        678 18  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor AT ABOUT the same time when fireworks lit up the Singapore skyline to mark the opening of the inaugural Youth Olympic Games (YOG) last Saturday, over in England there was another major sporting event that, by all
        REUTERS  -  678 words
      • Article, Illustration
        Lock icon More than just a sporting event
        534 18  -  yog 2010 with colette wong Colette Wong IN HIS impassioned speech at the opening ceremony of the Youth Olympic Games (YOG) last Saturday, Jacques Rogge declared that a new chapter in the history of the Olympic movement had been opened. In saying this, the
        534 words
    • MOTORING
      • Article, Illustration
        Lock icon Gentlemen, start your engines
        834 19  -  The exclusive Pebble Beach was transformed into an exotic motor city with rare vintage cars and futuristic soon-to-be classics on display last weekend. By Dylan Tan By Dylan Tan dylantan@sph.com.sg CALIFORNIA Governor and born-again action star, Arnold Schwarzenegger, popped by the 60th Pebble Beach Concours d’Elegance
        834 words
      • Article, Illustration
        Lock icon MEGA FUN
        722 20  -  The new Megane Renault Sport’s versatile performance is its most attractive feature. By Samuel Ee By Samuel Ee samuelee@sph.com.sg FEW cars can go from zero to wow in just one generation but the new Megane Renault Sport comes close. Of course it helps that it now has great
        722 words
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