The Business Times, 23 August 2010

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Monday, August 23,
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  • 749 1 A$ seen bearing brunt of uncertainty; equities investors may look to other markets Bloomberg AP [SYDNEY] Australia’s dollar may fall and equities investors may look to other markets after the nation’s federal election failed to deliver a majority government for the first time
    Bloomberg; AP; Source: Bloomberg  -  749 words
  • 693 1  -  Targets likely to be in growth markets such as China, India By JAMIE LEE [SINGAPORE] With the end of the long-drawn takeover battle for Parkway Holdings, the search is on for the next piece of M&A action. Market watchers here expect more interest
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  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST Index 2,936.48 -3.49 KL COMP 1,395.02 +34.87 NIKKEI 225 9,179.38 -74.08 HANG SENG 20,981.82 -89.75 SET INDEX 893.92 +31.76 JAKARTA COMP 3,117.72 +64.71
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  • Page 1 Advertisements
    • 154 1 YOUNG INVESTORS’ FORUM Climbing the new corporate ladder PAGE 11 BizIT Interview with NEC’s Nobuhiro Endo VIEWS FROM THE TOP What’s the ‘next big thing’ for Singapore? PAGES 12-13 DINING OUT Tenza Izakaya: Driven by passion PAGE 23 PAGE 29 THE DRIVER'S WATCH No other watch is engineered quite like
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  • TOP STORIES
    • 619 2 Australia’s election impasse to deepen market jitters AUSTRALIA’S dollar may fall and equities investors may look to other markets after the nation’s federal election failed to deliver a majority government for the first time in 70 years, according to market analysts. Australian Prime Minister Julia Gillard and Tony
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    • 854 2  -  Mega mergers fail to inspire as jobs, manufacturing data sways wary market WALL STREET INSIGHT By ANDREW MARKS THE summer doldrums are firmly in place with what feels like half of Wall Street away on vacation but there is no mistaking the nervous tension pervading the
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    • 1286 2  -  PPL Shipyard board’s make-up has come into sharp contention By JOYCE HOOI [SINGAPORE] What had started out as one of the issues in the shipyard showdown is turning out to be a rather key one. The ongoing dispute between Sembcorp Marine
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    • 51 2 IN the report “ART buys 28 properties from The Ascott” (BT, Aug 21), we said that occupancy rates of service residences in key European cities reached 95-97 per cent in the last few years. They were actually in the range of 75-80 per cent. We are sorry for the
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    • 352 4  -  Three-day corporate passes range from $3,500 per head up to $8,000 By NISHA RAMCHANDANI [SINGAPORE] More than 90 per cent of the corporate hospitality offerings for this year’s Formula One Grand Prix have been snapped up, with less than five weeks
      FILE PHOTO  -  352 words
    • 586 4  -  They need to rely less on developed world: HSBC analyst By LYNN KAN [SINGAPORE] Risks to emerging economies’ growth will hinge on fiscal adjustment in the developed world, says HSBC global head of macro and investment strategy Philip Poole. While the European sovereign debt
      586 words
    • 505 4 AP [ATHENS] The plan to rescue Greece from bankruptcy has kicked in, and with a vengeance. As the government slashes spending and hikes taxes, the deficit is way down but jobs are vanishing, shops are closing, and on the streets gloom is prevailing.
      AP  -  505 words
    • 285 4 Reuters [HONG KONG] China Construction Bank (CCB), posted a 20 per cent rise in sec-ond-quarter profit as the world’s second-biggest lender by market value seeks to raise US$11 billion to fuel growth restrained by a weak capital base. Profit growth at CCB,
      Reuters  -  285 words
    • 486 5  -  Casino operator’s profits likely to fall in current quarter, it forecasts By WINSTON CHAI GENTING Singapore’s sec-ond-quarter earnings surprise may have prompted many industry naysayers to change their tune but Nomura Securities is sticking to its guns. The analyst firm has raised Genting’s target
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    • 253 5  -  By WINSTON CHAI MAPLETREE Logistics Trust (MapletreeLog) is investing $32 million to buy a second warehouse in South Korea. The company yesterday announced it has signed a conditional sale and purchase agreement with the property's vendor Multi-Q Logistics. The purchase consideration is 28 billion won
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  • Page 2 Advertisements
    • 276 2 As the world becomes more globalized and a generation of baby boomer employees retires, new economic and demographic shifts are emerging, which is making traditional definitions of success and paths to success outdated. If you noticed an increase in the number of international employees in your organization, and had some
      276 words

  • Page 3 Advertisements
    • 181 3 Until Chuck Yeager broke the sound barrier, he would not rest. Nor would the designers of the Bell X-1. (California, 1947.) Until you see that we've drawn a line. A line that changes everything. One that sets new standards. That looks at the past with a forensic intensity. And to
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  • Page 4 Advertisements
    • 313 4 ESPLANADE PRESENTS fzTi m frvc i H 1 fi > A BAJOFONDO TANGOCLUB It's icy beats, Argentinian tango with live orchestration, infectious drumming and sexy riffs all stirred into one hot melting pot. This is the sound of Rio de la Plata today. Bajofondo is a project by Oscar-winning super-producer
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  • Page 5 Advertisements
    • 340 5 34°S Buenos Aires, Argentina J An exquisite Marina Bay Sands experience t complete with access to the Sands SkyPark! Yours when you join HSBC Premier. Opportunities arise when you are open to new experiences In a world without boundaries, possibilities abound. And no matter where an opportunity presents itself, we'll
      340 words

  • SINGAPORE MARKETS
    • 580 6  -  STOCKS VEN SREENIVASAN Senior Correspondent CONCERNS about the foundering US economic recovery and the absence of traders during the August summer break has not just weighed down Wall Street and global stocks to their lowest levels this year, but also sharply driven
      580 words
    • 454 6  -  Interest is often the biggest part of total return from currencies CURRENCY WATCH By JOHN W LABUSZEWSKI The writer is managing director, Research Product Development(CME) FLUCTUATIONS in currency values exert an impact on our everyday lives, affecting everything from the price of vehicles
      454 words
    • 425 6 COMMODITIES [LONDON] Wheat prices fell over the past week despite a brief late surge on reports that drought-rav-aged Russia plans to import the commodity, while oil futures extended losses on poor US economic data. Grains: Wheat futures rallied on Thursday as a report said that
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    • 110 6 BY CENTS CLOSE UP DBXT iBoxxUSTr 5US$ ***** 376.4 1.5 JMH 4262 300.5 5.5 GLD 10US$ ***** 177.4 1.1 DBXT Nifty 10US$ ***** 124.6 0.8 DBXT MSTHAI 10US$ 1301 105.6 6.4 DBXT S&P Short 10US$ 5388 102.9 1.4 DBXT MSKorea 10US$ 4796 100.2 1.6 DBXT FTChina25 10US$ 2958 93.4
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    • 122 6 BY CENTS CLOSE DOWN DBXT EONIA 5US$ *****-752.7 -3.0 DBXT E50 10US$ 3700-273.5 -5.2 DBXT FTVietnam 10US$ 3684-178.7 -3.5 DBXT MSEurope 10US$ 3977-144.9 -2.6 DBXT MSUSA 10US$ 2533-115.1 -3.2 DBXT S&P500 10US$ 1693 -75.8 -3.2 DBXT STGLDv100 10US$ 2492 -66.3 -1.9 DBXT USDIGInfl 5US$ ***** -62.3 -0.2 DBXT MSAsExJp
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    • 1421 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Properties 2.45 2.45 11 10.97 10.30 1.29 1.13 ARA Asset Mgt 1.75 1.75 4 7.33 15.70 1.28 1.15 Armstrong Ind 1.00 1.00 3 4.95 9.19 0.54
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    • 84 6 Aug 20 CHNG YR 2010 CLOSE FR Aug 19 S$ LOW S$ HIGH US$ 1.3539 -0.18 1.4219 1.3472 Euro 1.7356 0.10 2.0153 1.6886 Pounds 2.1114 -0.18 2.2831 2.0003 A$ 1.2066 0.61 1.2960 1.1515 Yen* 1.5880 -0.30 1.5987 1.4467 Rupiah* 0.***** -0.30 0.***** 0.***** Baht* 4.2967 -0.44 4.3611 4.1977 Peso*
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    • 4 6 WEEKLY
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    • 64 6 Aug 20 VALUE CLOSE BT OB/OS -616.00-183.00 BT CADI -*****.00-107.00 BT 10-day MA -*****.00 -61.00 FTSE ST Mid Cap 721.32 -1.92 FTSE ST Small Cap 536.96 -3.42 FTSE ST All Share 725.02 -2.57 FTSE ST China Top 265.89 -1.74 FTSE ST China 296.89 -3.24 FTSE ST Catalist
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    • 56 6 VOLUME Genting SP 915,879,000 Informatics 366,186,000 Adventus 206,774,000 Enzer 182,196,000 Oceanus 178,802,000 Noble Grp 163,491,000 *Genting HK US$ 149,753,000 Golden Agri 143,310,000 SingTel 132,861,000 Sapphire 128,649,000 VALUE($) Genting SP 1,429,409,238 Wilmar 436,987,429 SingTel 392,809,447 DBS Grp 332,350,918 CapitaLand 316,401,360 Noble Grp 266,673,960 UOB 225,898,901 TigerAir 180,091,675 OCBC
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    • 1476 8  -  TEH HOOI LING Senior Correspondent THE past week hasn’t been particularly great for stocks, with only one out of six of our portfolios managing to eke out some gains. The biggest upgrade in analyst sentiment is the lone gainer among our portfolios. It
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    • 1448 8  -  The bulk of the significant trades are on the buying side, with some rare insider buys INSIDE MARKETS By ROBERT HALILI The writer is managing director of Asia Insider Limited TRADING among directors surged for the second straight week with 38 companies recording
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  • Page 6 Advertisements

  • Page 7 Advertisements
    • 362 7 The superlatives are aplenty. But a test drive will leave you speechl Unlike any car you've seen before, the All New XJ is the most aerodynamic Jaguar ever. It is powerful, seductive and confident with a spacious cabin that ushers in a whole new world of comfort and luxury. While
      362 words


  • COMPANY NEWS
    • 1174 9  -  When it comes to corporate governance, the former penal colony arguably does a far better job than any other country in the world UNTICKING THE BOX By MAK YUEN TEEN Associate Professor Mak Yuen Teen set up the Corporate Governance and Financial Reporting
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    • 403 9 Aug 20 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 235 9 COMPANY MEETING PLACE DATE TIME Asia Food Prop E Holiday Inn Atrium Singapore Level 4, Atrium Ballroom 317 Outram Road, Singapore *****5 23-Aug 2.00pm Enzer Corp E 20 Maxwell Road #05-09 Maxwell House Singapore *****3 23-Aug 10.00am Hisaka Hldgs E 63 Sungei Kadut Loop Hisaka Industrial Building Singapore
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  • Page 9 Advertisements
    • 99 9 FX/CFD trading The more you trade the more you save. rwwm canonsH WorUng Orders Alerts Activity/ [Ticket* MARKETS R wafc/wsts indices [usucuse Onxw onstneu S/met *S*» *S-«. S i«. •/rH, "Mod 5*8Qn '°P WB0«te J'Pe L® <-"'e sf Enjoy automatic rebates and lower commissions. Make huge savings on FX and
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  • SINGAPORE NEWS
    • 715 10  -  Hold the next few YOGs like this first one in cities too tiny to host Olympic Games COMMENTARY LEE U-WEN Deputy Foreign Editor BEFORE the first Youth Olympic Games (YOG) began some nine days ago, global interest in this mul-ti-sport event was muted, to say
      SPH-SYOGOC/ALPHONSUS CHERN  -  715 words
    • 1545 10 Payment Ex Books Pay Ann (cts) date close date date Adampak Ltd aw 1.000 03-Sep 07-Sep 24-Sep 13-Aug AIMS AMP Cap Reit ag 0.538 06-Aug 11-Aug 16-Sep 30-Jul ARA Asset Mgt aw 2.300 25-Aug 27-Aug 09-Sep 13-Aug Armstrong Ind aw 2.000 09-Sep 14-Sep 30-Sep 13-Aug Ascendasreit ao 3.370
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    • 460 10  -  By YEN PEI WEN HSBC Insurance has unveiled a new plan to help Singaporeans save for retirement. The SecureIncome plan offers a guaranteed yield of 1-1.5 per cent per annum over the tenure of the policy. The minimum amount that customers have to commit each
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  • Page 10 Advertisements
    • 223 10 NANYANG TECHNOLOGICAL UNIVERSITY Nanyang Business School University of California Berkeley Haas School of Business A strategic fusion of East and West business wisdom. Be a part of this distinguished class. JL 1 Enlightening. Engaging. And insightful teachings to meet the business challenges ahead. L_ Qimnn I 00 The programme has
      223 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1011 11  -  WILLIAM PASMORE discusses how young professionals can avoid the numerous pitfalls on their path to top leadership WILLIAM PASMORE The writer is the organisational practice leader at the Center for Creative Leadership, a non-profit global provider of executive education whose Asia-Pacific headquarters are based in
      LUDWIG ILIO  -  1,011 words
    • 1103 11  -  CAMPUS LIFE By CHAN KAI MIN The writer is a second-year Singapore Management University student pursuing a double degree in Business Management and Social Sciences THE humble dartboard is, in many ways, the ideal metaphorical representation of the United States. Over the years the
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  • Page 11 Advertisements
    • 271 11 Be smart with your finances FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors’ Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
      271 words

  • VIEWS FROM THE TOP
    • 2535 12 THIS WEEK’S TOPIC: After the IRs and the F1 race, and now the YOG, what should be the ‘next big thing’ for Singapore? How would you propose to raise the excitement level here and overseas, and improve the quality of life in Singapore? Terry O’Connor CEO
      BLOOMBERG, REUTERS, FILE PHOTOS  -  2,535 words

  • Page 13 Advertisements
    • 257 13 Thank you for your Invaluable Contribution to Singapore's Quality and Standards Programmes SPRING Singapore thanks our 1,600 volunteers from industry, government agencies, and academia for their commitment to Singapore's quality and standards programmes. Our achievements in building an internationally-recognised standards and conformance infrastructure would not have been possible without your
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  • ECONOMY WATCH
    • 595 14 Goods orders up for first time in 3 mths; economy is in a rut, says analyst Bloomberg [WASHINGTON] The US economy is straining to sustain its recovery from the worst recession since the 1930s as economists predict home sales probably plunged
      Bloomberg  -  595 words
    • 506 14 AFP [HANOI] Vietnam must rethink the growth strategy that propelled it from poverty to the ranks of Asia’s fast-est-growing economies, analysts say, or risk stagnating. The communist country, which aims to become an industrialised nation by 2020, risks losing out both to poorer, lower-wage
      AFP  -  506 words
    • 490 14 AP [UNITED NATIONS] An obscure UN board that oversees a US$2.7 billion market intended to cut heattrapping gases has agreed to take steps that could lead to it eventually reining in what European and US environmentalists are calling a huge scam. At
      AP  -  490 words
    • 330 14 AFP [JOHANNESBURG] South Africa’s President Jacob Zuma tomorrow makes an official visit to China to broaden ties with the emerging superpower which is fast becoming a top investor in Africa. The visit is seen as an opportunity to harness shared interests, with no begging
      AFP  -  330 words
  • Page 14 Advertisements
    • 51 14 Job search made Mm, V\N| 4 I 1/ Searching for a job at Jobs.ST701 .com is no sweat at all! With improved features like our sophisticated job-match technology, job applicationmanagement panel and new one-click resume auto-generator, we bring you one step closer to your ideal job. The Leading Online Marketplace
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    • 125 14 Are You Struggling To Earn $8,000 A Month? Do You Want To Start A Profitable Business in Singapore and 16 Countries Worldwide? Attend FREE SEMINAR DISCOVER.... V Why "Business is Booming" V Rare EXCLUSIVE business opportunity from United States V How To EARN $10,000 on your FIRST customer /Very Profitable.
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    • 23 14 a* Lianhe Zaobao tt ft m «k Which are the most profitable S-chips for HI? To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • MALAYSIA
    • 593 15  -  But whether they can sustain profitability will hinge on cost control, prudence and a regional footprint MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent WHAT a difference a year makes. On Friday, Malaysia’s largest bank, Malayan Banking or Maybank unveiled a sterling set of figures for its financial
      593 words
    • 603 15 Ex-Sarawak MP calls it a ‘nightmare’ to beat ruling coalition AFP [MIRI, Malaysia] Harrison Ngau’s description of dirty politics in the rainforest state of Sarawak on Borneo island reads like a chapter in a spy novel, complete with subterfuge, threats and contraband. The amiable
      AFP; PHOTO: AFP  -  603 words
    • 2008 15 VOL Aug 20 RM +/-(‘000) A M Realty 0.50 -0.02 336 Abric Bhd 0.25 unch 382 Advance Synerg 0.14 -0.01 361 Adventa Bhd 2.64 0.03 410 Ae Multi Hldgs 0.46 unch 3117 Affin Holdings 3.05 -0.01 416 Ahmad Zaki Res 0.85 -0.02 469 Aic Corp 0.90 0.01 6177
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  • Page 15 Advertisements
    • 176 15 i \PJJS 1/2 f. "N > /MKIW it A fflnW i KvmfAi Hirri rw(4y11iim ',-y.w r>JOHANN STRAUSS II VAUGHAN WILLIAMS arr. RALPH GREAVES Urn aU Conduct BIZET er Souptel Be charmed and entertained in the company of your loved ones J by the melodic sounds of the Singapore Symphony Orchestra.
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  • GREATER CHINA
    • 461 16 Gesture seen as attempt to save face, show China’s doing its best to meet target AFP [BEIJING] China, facing the risk of embarrassment if it misses a looming environmental deadline, has ordered thousands of companies to close high-polluting plants as its leadership vies to
      AFP; REUTERS  -  461 words
    • 195 16 AFP [TAIPEI] A leading Taiwan flat-screen maker said yesterday that its three top executives had been barred from leaving the United States for their alleged role in a price-fixing case. AU Optronics (AUO) vice-chairman HB Chen, president Chen Lai-juh and board member Hui
      AFP  -  195 words
    • 322 16 That’s the way to safeguard China’s economic health Reuters [BEIJING] China has to pursue political reform to safeguard its economic health, Premier Wen Jiabao said during a visit to the booming town of Shenzhen, the official Xinhua news agency reported. Mr Wen’s call yesterday for
      Reuters; XINHUA  -  322 words
    • 136 16 Bloomberg [BEIJING] China Petroleum Chemical Corp, Asia’s biggest refiner, unexpectedly posted a 6.7 per cent increase in first-half profit as a rebound in the nation’s economy spurred demand for oil, gas and petrochemicals. Net income at Sinopec, as China Petroleum is known, climbed
      Bloomberg  -  136 words
  • Page 16 Advertisements
    • 192 16 J. i i r Raise Productivity with Standards A S 1 M < T V > illTiiMlfl u I k "With standards adoption weVe cut operational costs by20-30%. We can now better manage complex delivery schedules. Our overall productivity and efficiency have gone up!" Mr Gunasegeran Managing Director, Just R
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  • INDIA
    • 739 17 It offers newlyweds honeymoon package to delay their having children NYT [SATARA, India] Sunita Laxman Jadhav is a door-to-door saleswoman who sells waiting. She sweeps along muddy village lanes in her nurse’s white sari, calling on newly married couples with an unblushing
      NYT; REUTERS  -  739 words
    • 254 17 AFP [THIRUVANANTHAPURAM, India] Former UN diplomat Shashi Tharoor married girlfriend Sunanda Pushkar yesterday, months after the couple were the focus of a cricket team ownership scandal that saw him quit the Indian government. The couple were married in the presence of close relatives in
      AFP  -  254 words
  • Page 17 Advertisements
    • 1001 17 A feature series on Quality Standards, brought to you by SPRING Singapore balance lab J alance pro balance I 4 bal; In the healthcare industry, the quality of medical devices can mean the difference between life and death. This is why every step of the manufacturing process for medical devices
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  • FOCUS: CRISIS OF CONFIDENCE
    • 1145 18  -  It’s a bane afflicting many CFOs as well as CEOs in the US. And businesses are the worse off for it, reports RICHARD H THALER RICHARD H THALER NYT [CHICAGO] BUSINESSES in nearly every industry were caught off guard by the Great Recession. Few leaders in business
      NYT; BLOOMBERG; AP  -  1,145 words
  • Page 18 Advertisements
    • 2563 18 MATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES UCO BANK A GOVERNMENT OF INDIA UNDERTAKING Head Office:10 B.T.M.Sarani Kolkata-700 001 AUDITED ACCOUNTS AS AT 31ST MARCH, 2010 BALANCE SHEET AS ON 31 ST MARCH, 2010 (000'S OMITTED) As on 31.3.2010 As on 31.3.2009 Rs. Rs. CAPITAL AND LIABILITIES Capital 1699 36
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  • WORLD
    • 403 19 Move in preparation for replacing giant blowout preventer valve with new one AFP [WASHINGTON] BP said on Saturday that it has begun removing drill pipe and other equipment from a damaged wellhead under the Gulf of Mexico, as it prepares to replace its giant
      AFP  -  403 words
    • 192 19 Bloomberg [ABU DHABI] Nakheel PJSC, the Dubai Worldowned property developer, has paid 2.5 billion dirhams (S$923 million) of bills that it owes trade creditors, chairman Ali Lootah was quoted as saying by Al Khaleej newspaper. About 80 per cent of its trade creditors have
      Bloomberg  -  192 words
    • 365 19 AP [WASHINGTON] A sixmonth ban on deepwater drilling in the Gulf of Mexico would directly put more than 9,000 people out of work and indirectly affect another 14,000 jobs, according to a memo from the nation’s top drilling regulator. The federal document,
      AP; PHOTO: AP  -  365 words
    • 455 20 FDA probing origins of salmonella outbreak AFP WP [WASHINGTON] One of the largest-ever US recalls grew to more than half a billion chicken eggs on Saturday when a second producer pulled eggs potentially contaminated with salmonella bacteria, an industry official said. There are
      AFP; WP  -  455 words
    • 305 20 Reuters AP [STOCKHOLM] The Swedish authorities issued an arrest warrant for the founder of the whistle-blow-ing website WikiLeaks on Saturday on suspicion of rape, but then swiftly withdrew it. Chief Prosecutor Eva Finne determined that there was not enough grounds for the warrant
      Reuters; AP  -  305 words
    • 368 20 It is spending record sums of money to make sure it has political clout AP [WASHINGTON] At times subtle, at times loud, the US Chamber of Commerce is spending record amounts on lobbying and in election battlegrounds, elbowing into the nation’s politics
      AP  -  368 words
    • 147 20 Reuters [HONG KONG] HSBC Holdings plc has emerged as the frontrunner to buy a controlling stake in Nedbank, South Africa’s fourth-larg-est bank, in a deal that could be announced as early as today, the Financial Times quoted people familiar with the talks
      Reuters  -  147 words
    • 480 21 4 California banks, 2 in Florida and one in Virginia bring year’s total to date to 118 Bloomberg [SAN FRANCISCO] ShoreBank Corp, the Chicago lender operating under a Federal Deposit Insurance Corp (FDIC) cease-and-de-sist order for 13 months, and seven other banks were shut
      Bloomberg  -  480 words
    • Article, Illustration
      35 21 [COLOGNE, Germany] A visitor wearing 3D glasses and playing with a PlayStation at Gamescom 2010 here last week. The five-day Gamescom convention, Europe’s largest video games trade fair, ended yesterday. REUTERS
      REUTERS  -  35 words
    • 240 21 Bloomberg [DUBAI] Saudi Arabia’s King Abdullah named David O’Reilly, who built Chevron Corp into the world’s fourthlargest publicly traded oil company, to be a board member at state-run Saudi Aramco. Mr O’Reilly, Chevron’s chairman and chief executive officer for a decade, will serve a
      Bloomberg  -  240 words
    • 205 21 Reuters [CAIRO] A van Gogh painting worth an estimated US$55 million was stolen from a Cairo museum on Saturday and after reporting it had been recovered, the state news agency quoted a minister as saying it was still missing. Citing Culture Minister Farouk
      Reuters  -  205 words
  • Page 19 Advertisements
    • 215 19 MATS NOTICES (Incorporated in the Republic of Singapore) (Company Registration Number: *****0035D) NOTICE OF BOOKS CLOSURE DATE INTERIM DIVIDEND NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Members of the Company will be closed from 5.00 p.m. on 8 September 2010 up to and including 9 September
      215 words
    • 536 19 T Z-4 S c Strategically located in the hub of Kuala Lumpur's thriving world class integrated CBD, this landmark development is a short walk from Malaysia's iconic Petronas Twin Towers. Master-planned and developed to transform your 'live-work-play' experience, Crest Jalan Sultan Ismail features a high-end mixed development of the 44
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  • Page 20 Advertisements
    • 43 20 Putting the style back into life That's the power of BT Lifestyle Editor Jaime Ee gives you a glimpse of the classiest homes, a flavour of the finest wines and puts luxury within your reach. THE BUSINESS TIMES A publication of sp'i i -> ->>
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  • Page 21 Advertisements
    • 1112 21 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg Industrial Government Land Sales: Land Parcel for Industrial Development at Yishun Street 23 Yishun Avenue 9 Good Connectivity Easy access via CTE/SLE Close proximity to Yishun MRT Station Yishun Bus Interchange Choice Location Adjacent to Yishun Industrial Park near established companies Located within
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  • AVIATION/SHIPPING
    • 455 22 Sector remains fragile and profit outlook uncertain: industry trade body Reuters [WASHINGTON] Travel on major US airlines fell roughly one per cent in July with one key measure of revenue growth slowing, according to an industry trade group that also said the
      Reuters  -  455 words
    • 364 22 Airline adding international flights as economy recovers, businesses resume travel Bloomberg [DALLAS] Delta Air Lines the world’s largest carrier, said it will recall laidoff attendants and hire an undetermined number of new workers as it adds flights. The airline expects to begin training the attendants
      Bloomberg; REUTERS  -  364 words
    • 2990 22 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1300 SQ456 1320 EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7268 1745 VS7279 2350 Amsterdam SQ323 0605 LO4032 2345 US5410 0605 SQ324 2345 AZ3992 1525 US5411 2345 KL835 1525 Athens SQ348 0105 Atlanta DL281
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    • 205 22 Bloomberg [LONDON] Returns from delivering Middle East crude oil to Asia fell for a fourth day, rounding out the biggest weekly drop in seven weeks, as tanker owners who had spurned unprofitable charters re-entered the market. Returns for very large crude carriers, or
      Bloomberg  -  205 words
    • 507 22 Reuters [MEXICO CITY] A Mexican consortium, aided by private equity firm Advent International, has stepped up to buy a controlling stake in troubled airline Mexicana after financial woes pushed the carrier to the brink of collapse. Advent helped put the deal together,
      Reuters  -  507 words
  • Page 22 Advertisements
  • Page 22 Miscellaneous
    • 285 22 CRYPTIC CROSSWORD Across 1 Loyalty, say, within marriage (10) 6 Bowls over leading to end (4) 9 About a Boy, competent and satisfactory (10) 10 Leave Labour leader in charge (4) 12 Prompt to include large tip (4) 13 Savings from one’s income missing ‘Northern’ mess-up (9) 15 Poor state
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  • DINING OUT
    • 738 23  -  NEW RESTAURANT Tenza Izakaya 106 Clementi Street 12, #01-38D Tel: 6773-0093 tenza-izakaya.blogspot.com By Audrey Phoon YOU can tell that a restaurant is driven by passion when a) its owner makes it a point to be there every evening after he finishes his day job; b) persuades his
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    • 709 23  -  BIRD’S NEST FEAST PROMOTION Si Chuan Dou Hua Restaurant Top of UOB Plaza 80 Raffles Place #60-01 UOB Plaza 1 Tel: 6535-6006 By Cheah Ui-Hoon SERVE a bowl of soup topped with something transparent and white to any non-Chinese, tell them it's made by the
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  • Page 23 Advertisements
    • 135 23 fWSTViUtl^® 111^ www.radio913.c< WINE DINE AND HOSPITALITY .IT/ .> ft y r> CL7 A DIVINE MID-AUTUMN CELEBRATION AT MERITUS Featuring Mandarin Orchard's auspicious masterpiec.es, the Mandarin Fortune Dragon and Phoenix Premiuhq. Gift Set, and a series of delicate mini snow skin creations such as Mango, Lychee Martini, Green Tea and
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    • 5 23 www.omy.sg G^UJSCCS V/oli Wli f
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  • SINGAPORE STOCKS
    • 9293 24 Week ended: Aug 20 52-wks Tel Last Vol Week 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 3110 19 18 18 19 1.7 9.8 5.9 88.6 12 6 5834 A-Sonic
      9,293 words
    • 1906 25 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 9 5 1181 t AA Grp 5 -0.5 20 5 5 5 5.5 27.8 4.8 225 130 6222 t APStrategic 187 +5
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    • 114 25 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 2.110 CapitaLand 4.050 CapitaMall 1.970 CityDev 11.940 ComfortDelGro 1.530 -0.010 DBS Grp 13.960 -0.140 F&N 5.500 -0.060 Genting SP 1.500 -0.030 Golden Agri 0.555 -0.010 HK Land 5.410 -0.090 JMH 42.620 +0.880 JSH
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    • 2690 25 Transaction date: Aug 20 For a full listing of the closing prices, log on to BT online at http://business-times.asia1.com.sg after 11.30pm every trading day HONG KONG Vol HK$ +/-'000 Aeon Credit 6.70 unch 22 Aeon Stores 13.00 0.12 16 Angang Steel 11.60 -0.22 9666 Anhui Conch 27.00 -0.60
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    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 11 4 0 0 0 3 11 4 Manufacturing 76 100 53 8 19 17 84 119 70 Commerce 20 36 26 4 12 5 24 48 31 Tpt/Stor/Comms 7 25 12
      186 words
    • 873 25 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 118 unch 2 118 118 113.5 117.5 538.6 917 715 CIMBAsean40 100US$ US911 +21 142 917 890
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    • 259 25 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 36.5 6000 AVJennings A45.5cd 43 50.5 3.6 7.7 3.6 118.5 31 16 6017 Genting HK US$ US29 +1.5 *****3 30 27 29 29.5
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 83,379 83,379 249,908 249,908 Manufacturing 1,745,846 268,507 2,014,353 1,265,823 24,649 1,290,472 Commerce 593,543 445,551 1,039,094 573,819 57,021 630,840 Tpt/Stor/Comms 553,910 4,093 558,003 1,058,917 333 1,059,250 Finance 97,200 66 97,266 839,438 9 839,447 Construction 184,834 216,489
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  • Page 25 Advertisements
    • 26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 26 In local curr In S$ In US$ dy yr dy yr dy yr Aug 20 Index Change Change Change Change Change Change World Index Preliminary 788.1 -0.9 -5.3 -1.1 -9.7 -1.4 -6.6 EAFE Preliminary 732.4 -1.1 -6.7 -1.7 -12.4 -2.1 -9.5 Europe Preliminary 1063.9 -1.0
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    • 181 26 Aug 20 Aug $S Offer Bid Overnight 0.05 0.03 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 1/8 US$ Offer Bid 7 days 0.35 0.25 1 month 0.49 0.29 2 months 0.55 0.35 3 months 0.60 0.40 6 months 0.80 0.60 9 months 1.00 0.80
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    • 22 26 Aug 20 S$ Bid Offer 1-month 1.3537 1.3549 2-months 1.3536 1.3549 3-months 1.3535 1.3547 6-months 1.3531 1.3543 Source: OCBC
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    • 184 26 Aug 20 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Sep 10 336.0 334.0 336.0 48 497 Oct 10 337.0 335.0 337.0 62 281 Nov 10 337.0 336.0 337.0 30 353 Dec 10 336.5 335.0 336.5 42 562 Jan
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    • 84 26 Aug 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 18.11.2010 0.28 1-Year BY*****W 03.05.2011 0.33 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.30 5-Year N*****0N 1.375 01.10.2014 103.05 7-Year N*****0Z 2.375 01.04.2017
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    • 105 26 Aug 20 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 10 1009.25 1016.75 1019.25 1005.75 Nov 10 1004.00 1012.25 1015.00 1000.50 Jan 11 1011.00 1019.25 1021.00 1007.50 Mar 11 1015.75 1024.00 1026.00 1013.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Sep 10 39.52 39.89 40.09
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    • 77 26 CRUDE OIL PRODUCTS Aug 19 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 75.41 -0.38 WTI (Near Mth) 74.43 -0.85 Dubai (1-Mth F) 74.80 0.38 Tapis blend 81.80 0.55 Minas 76.95 0.50 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 74.50 0.95 Jet Kerosene 86.05 -0.10 US$/barrel Opec Oil
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    • 2449 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 6221 Asia-Pacific Strategic W*****6 39 1 150 1 4.79 45 6227 ASJ Hldgs W*****1 3.5 -0.5 500 1 4 15 1.86 18 6168 Asia Water Tech W*****8 4.5 0.5
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    • 133 26 Aug 20 As at 9am Aug 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
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    • 27 26 Aug 20 Open High Sett STI Aug 2932 SIMSCI Aug 346.5 347.2 344.6 Taiwan Aug 279.8 279.9 278.3 Source: MF Global (S) Pte. Ltd
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    • 5667 27 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. 1 **********W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN New Orleans/Camden *Loads
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    • 66 26 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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    • 451 26 Aug 20 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep10 99.6650 0 917 Dec10 99.6100 0 3777 Mar11 99.5550 0 2992 Jun11 99.4550 0 2142 EUROYEN TIBOR FUTURES Sep10 99.6550 99.6575 99.6550 99.6575 0 3733 Dec10 99.6950 99.6950 99.6950 99.6925 0 1823 Mar11 99.7075 0 2043
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    • 464 26 Aug 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.927 6.047 0.695 6.925 41.500 79.865 0.760 10.539 2.792 1.263 76.279 40.102 1.206 6.507 0.918 28.428 28.063 0.573 0.891 Canada 1.079 6.522
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    • 85 26 Aug 20 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 155 26 Aug 20 US$ 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
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    • 137 26 Aug 20 GOLD (US$/oz) Aug 19 Aug 20 Hong Kong 1229.90 1130.80 Aug 20 Aug 19 London 1226.50 1233.90 1226.90 1234.90 Source: Thomson Reuters CAST BAR Aug 20 (S$) Selling Buying Kilobar 57,554.23 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 128.4 54 5gm 365.94 268 10gm 653.77
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    • 71 26 Aug 20 Aug 20 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2037.75 2060.00 3 months 2040.00 2066.00 Copper, Grade A (US$/tonne) Cash 7236.50 7286.25 3 months 7255.00 7305.00 Lead (US$/tonne) Cash 2030.50 2078.75 3 months 2056.00 2105.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 82 26 Aug 20 COCOA (£/tonne) Close Prev High/Low Sep 10 2061 2066 2073/2037 Dec 10 2000 2014 2030/1976 Mar 11 2016 2034 2048/1995 May 11 2030 2047 2058/2007 COFFEE (US$/tonne) Close Pev High/Low Sep 10 1751 1711 1752/1715 Nov 10 1791 1751 1792/1754 Jan 11 1804 1764 1804/1766 Mar 11
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  • Page 27 Advertisements
    • 30 27 Importers I M _T Can they find looking TOT your services Warehouse Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES
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  • Page 28 Advertisements
    • 40 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES FREIGHT FORWARDER urgently needed by shippers n Can they find your THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
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  • Page 29 Advertisements
    • 962 29 adv CHINA HEALTHCARE LIMITED (Incorporated in the Republic of Singapore) Company Reg. No. *****2500K NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of the Company will be held at 235 Corporation Drive, West Point Hospital, Singapore *****1 on 8 September 2010 at 11.00 a.m.
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  • BizIT
    • 704 29  -  The Japanese multinational firm is turning to the global market to double its income by 2017, writes VICTORIA HO <the BizIT interview> VICTORIA HO AS developing nations modernise, electronics players are rubbing their hands in glee. To them, this spells the next wave of
      704 words
    • 483 29 WHAT we know today as the cloud is not real cloud computing, said Nobuhiro Endo, NEC Corporation’s president. “We think about the cloud in its IaaS (infrastructure as a service), PaaS (platform as a service) and SaaS (software as a service) layers,” he
      483 words
    • 364 29 AP [NEW YORK] A business consultant wants a court to force YouTube and owner Google to unmask a cyber cipher who posted what she says are unauthorised videos of her and online comments that hurt her reputation. Carla Franklin, a former model and
      AP  -  364 words
    • <what’s up>
      • 77 29 ASIA-PACIFIC is now included in Amazon’s annual “start-up challenge”. The global competition with US$100,000 up for grabs, challenges start-ups to use the Amazon Web Services cloud platform to build infrastructure for their businesses. Amazon has been running the competition for the past four years and
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      • 46 29 VISH IYER has been appointed the new head of Tata Consultancy Services (TCS) Asia Pacific, based here. Previously, Mr Iyer held roles such as chief financial officer for global operations and head of corporate strategy at the Indian IT services provider.
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      • 84 29 CANON has released its latest range of inkjet PIXMA Printers. The set of printers, encased in black housing, include four all-in-one models which are able to print and scan. Canon has included new software functions within the printers such as a frame capture and
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      • 61 29 NETWORKING services company, BlueCat Networks, has set up its Asia-Pacific head office in Singapore. BlueCat, which provides infrastructure services such as IP address management, appointed Dean Bell as vice-president for the Middle East and Asia Pacific region. Senior appointments include Joao Lopez as the technical
        61 words
      • 68 29 NTUC Income is the latest Singapore company to jump on the iPhone bandwagon. The insurance company has launched an application for the smartphone called NTUC Income Motor App, aimed at making it easier for motorists who have encountered accidents. They can apply for insurance through
        68 words
      • 63 29  -  Compiled by VICTORIA HO Fuji Xerox has made available its Color 800 and 1000 professional presses. The high-end printers are targeted at digital production houses which need to produce quality images typically seen in traditional offset printing, the company said. They boast the ability
        63 words
    • 521 29  -  By AMIT ROY CHOUDHURY A SURVEY done by Symantec shows that Singa-pore-based small and medi-um-sized businesses (SMBs) are more aware of the need to adopt a holistic information protection strategy that goes beyond just a basic anti-virus solution. According to Tan Yuh
      521 words
    • 891 30  -  Indian firm is setting up a high-end Solution Architects team here, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY INDIAN IT services company HCL Technologies is looking to build on its recent US$110 million outsourcing and services contract win with Singapore Exchange to enhance
      891 words
    • 697 30  -  By RAJU CHELLAM THE global uptick in sales of notebooks, netbooks and personal computers may have claimed its first victim DRAM (dynamic random access memory) chips. DRAM is the most common type of computer memory. A crunch in supplies of these vital
      697 words
    • 508 30 Bloomberg [SAN FRANCISCO] Intel Corp’s US$7.68 billion purchase of McAfee Inc may put pressure on security software rival Symantec Corp to build hack-er-thwarting technology inside corporate computers and forge new alliances to stay competitive. Yesterday’s deal signals a shift in the global
      Bloomberg  -  508 words
    • 382 30  -  By AMIT ROY CHOUDHURY AVNET Technology Solutions, Singapore, a value-added solutions distributor of enterprise computing products, has signed an agreement with Singapore Telecommunications (SingTel) to distribute the telco’s suit of ICT (Infocomm Technology) services in Singapore to Small and Medium-sized Businesses (SMBs)
      382 words