The Business Times, 25 September 2010

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Microfilm: NL30886
Total Pages: 49
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    13 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg SEPTEMBER 25-26, 2010 S$1.00 MICA (P) 139/08/2010 1
    13 words
  • Article, Illustration
    Lock icon Buyers climb steep prices to the high life
    1161 1  -  Record price set for Sentosa Cove bungalow; GCB in Cluny Hill goes for $1,841 psf but overall volumes dip By Kalpana Rashiwala kalpana@sph.com.sg Singapore THOSE looking to buy the most luxurious bungalows in Singapore may not have turned up in huge numbers
    Source: URA  -  1,161 words
  • Article
    Lock icon Swiss Club’s ‘useless’ strip of land brightens a tycoon’s plot
    630 1  -  By Ven Sreenivasan ven@sph.com.sg Singapore IF you are looking for a bargain on a piece of land in the Bukit Tinggi area, off Bukit Timah, perhaps you should contact The Swiss Club. Inits Augustnewsletter,theclub– which owns vast tracts of land
    630 words
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      Lock icon Page 1 Advertisements Column 1
      173 1 the the DEVEN WEALTH Are stocks undervalued? 33 MOTORING A modern marvel L18 raffles conversation DEVEN SHARMA, PRESIDENT, STANDARD POOR’S 8 -9 future tense TTI’s fate sealed but not revealed DEBT restructuring manager nTan Corporate Advisory must submit the re-voting results to the Court of Appeal by Tuesday. 2 close
      173 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon After re-vote, TTI’s fate is sealed but not revealed
      551 2  -  Results to be handed over next week to the Court of Appeal, which then has the final say By Teh Shi Ning tshining@sph.com.sg Singapore A RE-VOTE crucial to the fate of TT International’s debt restructuring scheme was taken yesterday, but its
      FILE PHOTO  -  551 words
    • Article
      Lock icon MARKETS
      136 2 STI 3,092.68 (+9.55) STI FUTURES 3,093 (+10.00) SIMSCI 364.57 (+1.86) SIMSCI FUTURES 364.10 (+1.70) STOCKS Friday Change KL COMP 1,451.19 -6.89 NIKKEI 225 9,471.67 -94.65 HANG SENG 22,119.43 +71.72 SET 951.90 +4.80 JAKARTA 3,397.63 +60.43 MANILA 4,078.87 +11.44 KOSPI 1,846.60 +13.97 SHENZHEN B 726.58 +7.06 MUMBAI IND 20,045.18 +184.17
      136 words
    • Article
      Lock icon Championship on the line and all to roar for
      817 4  -  Stage set for a nailbiter; foreign fans get it so it’s time for locals to add to the buzz By Samuel Ee samuelee@sph.com.sg Singapore THE Formula One season is so delicately poised that the Singapore race could decide it. The stage
      817 words
    • Article, Illustration
      Lock icon Companies should hop on for a profitable ride
      651 4  -  Motorsports’ growing popularity offers regional firms good vehicle for growth By Nisha Ramchandani nishar@sph.com.sg AS Asia’s motorsports industry continues to pick up speed, companies in Singapore and the region are in a prime position to leverage on that growth. Formula One, seen
      651 words
    • Article, Illustration
      Lock icon Mas Selamat back in Singapore
      286 6  -  The leader of the Singapore Jemaah Islamiyah terrorist network has now been arrested under Singapore’s Internal Security Act and is under investigation By Teh Shi Ning tshining@sph.com.sg Singapore TERRORIST leader Mas Selamat Kastari was brought back to Singapore yesterday, after Malaysian authorities handed custody to
      AP FILE PHOTO  -  286 words
    • Article, Illustration
      Lock icon Japan frees Chinese boat captain in surprise move
      546 7  -  Decision set to ease serious tensions between the two countries By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE prosecutors yesterday announced a surprise decision to release the captain of a Chinese fishing boat arrested earlier this month after Japanese coastguard vessels detained the trawler
      546 words
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      62 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-5 Style L6-8 Beauty L9 Home& Garden L10-11
      62 words
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      190 3 FREEHOLD A Vision of White in the Orchard. v 1 j i I'D \m lil si I! X liSifi -fl*' i Ill si i siSllMSlI s il!l r iff ;-r ssSSr|k!», ske&S vA B8§gSi! SS^fi rf I ■re r KL *****52 iSSSSi >*• s SSSSiP 2r i T; J-m ■-ir
      190 words
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      323 5 ATTITUDE. ALTITUDE. ■> m i A i u. I J ioJ w"" 1 m r s- —UA.BMIU rr 'J 1 I iTrC M* r L »8*i. Hit* "t v„ S i-ftan ji' s '■'■"•I.I g s ?j :;s|g ...jr.,. In so many ways Altez stands above the rest. At 250
      323 words
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      Lock icon Page 7 Advertisements Column 1
      168 7 GovWare 2010 MINISTRY OF HOME AFFAIRS (SINGAPORE) PRESENTS GOVERNMENTWARE 2010 STRATEGIC SECURITY: FINDING THE RIGHT BALANCE BENEFITS OF ATTENDING Learn invaluable know-how from distinguished speakers Network with IT security experts Receive updates on best practices for addressing IT security challenges Meet exhibitors showcasing state-ofthe-art technologies 28-30 SEP 2010 Suntec Singapore
      168 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Gatekeeper to the markets
      2135 8/9  -  Standard Poor’s president Deven Sharma talks toVikram Khanna about the tricky business of credit rating Vikram Khanna vikram@sph.com.sg ‘WE call the risks asweseethem,’ saysDevenSharma, president ofthecreditrating agency and financialintelligence provider, Standard and Poor’s (S&P). “Some investors will say you didn’t do it enough. Some will say
      BLOOMBERG  -  2,135 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | Sept 20-24, 2010
      • Article
        Lock icon Gaping vacancies among Ngee Ann City offices
        48 10 RIGHT in the heart of the city, some high-quality office space is going a-begging. Slightly more than 20 per cent of the space owned by Ngee Ann Development in NgeeAnn City’s office towers on Orchard Road is believed to be vacant.
        48 words
      • Article
        Lock icon Choices galore as Temasek, GIC bring IPOs to the table
        55 10 THE rare back-to-back launches of two major real estate IPOs this week Mapletree Industrial Trust and Global Logistic Properties will mean competition for investors, especially those that favour the industrial property sector. But the overlap in investors could be smaller
        55 words
      • Article, Illustration
        Lock icon Land swap settles 20-year dispute
        71 10 MALAYSIAN Prime Minister Najib Razak has accepted Prime Minister LeeHsien Loong’s revised and “improved”land swapoffer ofsixMarina South and Ophir-Rochor land parcels, in exchange for six railway landsites one eachin Tanjong Pagar, Kranji and Woodlands and three in Bukit Timah. LANDMARK DEAL Mr Najib has accepted
        AFP  -  71 words
      • Article
        Lock icon SGX extending OTC clearing to derivatives
        30 10 IN another trailblazing move, the Singapore Exchange is becoming the first Asian bourse to offer clearing services for financial derivatives traded over the counter.
        30 words
      • Article
        Lock icon SIA flies the flag for retail bond buyers
        52 10 SINGAPORE Airlines has set aside part of its latest corporate bond of- fering for retail investors the first listed company to do so. The move also marks a coup for the Singapore Exchange, which has been eager to build interest in the
        52 words
      • Article
        Lock icon M’sia identifies major projects to spur growth
        57 10 HOPING to attract billions of dollars in private investments to spur economic growth, Malaysia has identified more than a hundred major projects that it would implement over the next decade, including a regional oil storage and trading hub in Johor, and a high
        57 words
      • Article
        Lock icon Stage set for upmarket property launches
        40 10 DEVELOPERS here plan to launch another 34 residential projects with more than 8,800 units by June 2011, data compiled by Knight Frank shows. Most of the new projects will be mid-tier and high-end developments.
        40 words
      • Article
        Lock icon Funds find CPF bar too high, time too short
        58 10 WITH just three months to go before their moment of reckoning, less than half the funds here fully meet all the admission criteria for the CPF Investment Scheme. For the rest, the clock is ticking as they face the prospect of
        58 words
      • Article
        Lock icon Jurong Shipyard winds up last of forex transaction disputes
        62 10 A US$40 million settlement has been reached between Jurong Shipyard and Societe Generale the last of the 11 banks entangled in the foreign exchange debacle from two years ago. SocGen will pay the shipyard “on the basis that there is no
        62 words
      • Article
        Lock icon Chevron House sold for $547m
        69 10 CHEVRON House at Raffles Place has been sold for $547 million to a fund managed by Deka Immobilien of Germany, taking the total value of Singapore office investment sales so far this year to nearly $3 billion. The price for Chevron House works out to
        69 words
      • Article
        Lock icon DBS wants big piece of renminbi pie
        58 10 DBS Bank will spend $250 million over the next five years to become a leading Asian currency house with an eye on grabbing a chunk of the renminbi business. The bank is ramping up its treasury markets capabilities to capture the opportunities flowing
        58 words
      • Article
        Lock icon Q3 sales of new private homes hit by govt curbs
        54 10 JUST 3,300 to 3,500 new private homes were sold in the third quarter considerably fewer than the 4,033 and 4,380 units sold in Q1 and Q2 respectively as sales hit a snag in September after the government introduced its latest
        54 words
      • Article
        Lock icon Eurozone growth falls to 7-month low
        49 10 GROWTH across the eurozone economy slumped to a seven-month low in September, with a leading indicator logging its steepest fall since the early days of the global financial crisis. Markit’s Eurozone Flash Services Purchasing Managers’ Index fell to 53.6 from 55.9 in August.
        49 words
    • NEXT WEEK | Sept 27-Oct 1
      • Article
        Lock icon US DATA
        38 10 Sept 28 Consumer confidence for Sept Sept 29 Crude inventories Sept 30 GDP (third estimate) Initial and continuing claims Oct 1 University of Michigan consumer sentiment Personal income and spending for Aug Construction spending for Aug
        38 words
      • Article
        Lock icon SINGAPORE DATA
        20 10 Sept 29 Aug producer and international trade price indices Sept 30 2009 general govt operations Q2 external debt
        20 words
      • Article
        Lock icon EVENTS
        22 10 Sept 29 Tokyo Bank of Japan tankan survey for September Oct 1 Washington Financial Stability Oversight Council holds its first meeting
        22 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      302 10 CRYPTIC CROSSWORD Across 1 He ignores national customs (8) 6 At home, yet not at home, to some extent (2,1,3) 9 In time the deserter makes mistakes (6) 10 Prosper and show off (8) 11 Seafood not sent back on board (8) 12 Elaborate spread (6) 13 Result of refusing
      302 words
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 2
      15 10 SATURDAY with Ludwig ‘He’s so determined to finish the race even after his car crashed...’
      15 words
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  • COMPANIES
    • Article
      Lock icon Olam shares soar on news of merger talks
      427 11  -  Analysts say collaboration is likely to strengthen the combined entities’ global footprint and economies of scale By Lynette Khoo lynkhoo@sph.com.sg Singapore SHARES in Olam International shot up yesterday on news that it was in collaboration talks including the possibility of a merger
      427 words
    • Article, Illustration
      Lock icon AIS cuts investment after 3G ruling
      304 11 Reuters Bangkok ADVANCED Info Service plc (AIS), Thailand’s top mobile phone operator, will invest about 6-8 billion baht (S$260-346 million) a year in coming years, lower than its previous estimate, since it will not have 3G costs. AIS, which is 21 per cent owned
      Reuters; BLOOMBERG  -  304 words
    • Article
      Lock icon ST Kinetics sets up Indian subsidiary
      259 11 SINGAPORE Technologies Kinetics the land systems arm of Singapore Technologies Engineering (STE) has set up a new unit to tap the Indian market. Wholly owned Indian subsidiary LeeBoy India Construction Equipment involves a total investment of about S$50 million, comprising S$16.7 million in equity
      259 words
    • Article, Illustration
      Lock icon APS shorts Chinese consumer plays
      616 12 Reuters Singapore SINGAPORE’S APS Asset Management, which manages about US$1.85 billion, says that there is money to be made in many poorly researched Asian firms but Chinese consumer stocks are headed for a fall. The firm’s Asia-Pacific Hedge Fund’s current holdings include Korean computer chip
      Reuters  -  616 words
    • Article
      Lock icon OCBC merging its two units in Indonesia
      441 12  -  Move will reap revenue, cost and operational synergies which will benefit all stakeholders including customers By Siow Li Sen lisen@sph.com.sg Singapore OCBC Bank will merge its two Indonesian subsidiaries to better serve clients and save costs. The merger involves PT Bank OCBC Indonesia
      441 words
    • Article, Illustration
      Lock icon CME to tailor products for Asian investors
      399 13  -  World’s biggest futures bourse plans to add staff in Singapore after business doubles over a one-year period By Genevieve Cua gen@sph.com.sg Singapore THE CME Group, the world’s largest futures exchange, is beefing up its Singapore team, partly to help to develop products to
      FILE PHOTO  -  399 words
    • Article, Illustration
      Lock icon OSIM celebrates 30 years, sets acquisition course for growth
      393 13 HEALTHY lifestyle company OSIM will acquire global and promising brands to maximise growth in China, as it focuses on the market there for its next phase of expansion. Announcing a brand makeover yesterday to mark its 30th year in business, the
      393 words
    • Article, Illustration
      Lock icon Genting, Jardine and the trickle-down effect
      611 14  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent LAST Saturday’s column focused on the central role played by the two Genting and four Jardine stocks in daily trading. The two stables featured again in our Monday article this week. And as things turned out, the six
      611 words
    • Business briefing
      • Article
        Lock icon Transcu Group Q1 losses narrow as revenue surges
        79 14 TRANSCU Group reported narrower losses for the fiscal first quarter ended June 30,2010. Losses for the three-month period was US$3.08 million, down from a loss of US$7.27 million a year ago. Revenue improved 32.4 per cent to US$1.84 million, helped by contribution
        79 words
      • Article
        Lock icon China Dairy warns of Q3 and full-year loss
        81 14 CHINA Dairy Group warned that the group is expecting a net loss for the third quarter and full year of FY2010. It said the rising prices of key raw materials will continue to exert pressure on its profit margin in 2010 amid
        81 words
      • Article
        Lock icon Time Watch Investments closing Singapore retail shop
        39 14 TIME Watch Investments will be closing its retail shop in Singapore, operating under Time Watch Singapore Pte Ltd, with effect from Oct 4. The shop is located at The Central shopping mall.
        39 words
      • Article
        Lock icon Falcon Energy proposes rights issue of warrants
        104 14 FALCON Energy Group is proposing a renounceable non-underwritten rights issue of up to 162.8 million warrants at an issue price of 10 cents per warrant, on the basis of one warrant for every five existing ordinary shares in the company. Each warrant carries
        104 words
      • Article
        Lock icon China Taisan to get up to $32.8m from TDRs
        114 14 IN an announcement on Thursday on its proposed Taiwan Depository Receipt (TDR) issue, China Taisan Technology Group Holdings said: “Depending on the final issue price of the TDRs, the company expects to raise estimated proceeds of between $52.5 million and $65.6
        114 words
      • Article
        Lock icon Hor Kew subsidiary wins $156m HDB contract
        56 14 HOR Kew Corporation said its subsidiary, Hor Kew Pte Ltd, has been awarded a $156 million contract by the Housing Development Board for the building works at Queenstown Planning Area Dawson Contract 1. Work is scheduled to start next month and is expected
        56 words
    • Article
      Lock icon TOP 20 ACTIVES
      112 14 VOL CLOSE JES 173,810 36.5 2.0 5.8 UniFiber 151,011 6 0.5 9.1 GentingSP 147,155 201 -6.0 -2.9 ChinaNTown 140,272 16.5 1.5 10.0 Bio-Treat 94,017 10 1.0 11.1 *GentingHK US$ 85,880 48.5 -2.0 -3.0 AdvancedSystem 65,359 1 0.5 100.0 JiutianC 53,944 7.5 1.5 25.0 FrasersComm 51,220 15.5 0.5
      112 words
    • Article
      Lock icon STI STOCKS
      111 14 Stock name Close Change CapMallsAsia 2.190 -0.020 CapitaLand 4.050 CapitaMall 2.050 -0.010 CityDev 12.100 +0.200 ComfortDelGro 1.550 +0.020 DBS Grp 14.080 +0.120 F&N 6.200 +0.080 Genting SP 2.010 -0.060 Golden Agri 0.580 +0.005 HK Land 6.010 -0.050 JMH 45.380 +0.060 JSH 26.580 -0.460 Jardine C&C 38.060 -0.480 Keppel
      111 words
    • Article
      Lock icon TOP GAINERS
      57 14 BY CENTS CLOSE UP DBXT AUDMM 5US$ ***** 1163.8 5.1 DBXT Nifty 10US$ ***** 200.4 1.1 DBXT iBoxxSing 5SG$ ***** 122.0 1.0 DBXT iBoxxKR 5US$ ***** 116.8 0.7 GLD 10US$ ***** 67.7 0.4 GentingSMBLeCW*****2 105 59.5 130.8 DBXT MSINDO 10us$ 1381 51.8 2.9 CityDev.ES.1009 1202 42.0 3.6 UOB
      57 words
    • Article
      Lock icon TOP LOSERS
      60 14 BY CENTS CLOSEDOWN DBXTUSDIGInfl 5US$ ***** -299.9 -0.9 JSH 2658 -61.0 -1.7 Jardine C&C 3806 -48.0 -1.2 Pru 500US$ 950 -41.1 -3.2 DBXT MSKorea 10US$ 5052 -39.8 -0.6 Great Eastern 1560 -34.0 -2.1 Lyxor Malaysia 10US$ 869 -25.2 -2.1 DBXT MSMSIA 10US$ 1182 -22.6 -1.4 OCBC Bk 5.1%NCPS
      60 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      46 11 8 Nassim Hill Brand New Showflat Prestigious Address, 16 units only Freehold. Foreigners Eligible Short stroll to Orchard Shopping belt Good investment value Immediate occupation Private pool lawn 4 5 bedrooms ensuites Size 3218 sq ft 5759 sq ft Viewing by appointment only. Residential 9847 1311
      46 words
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  • Page 12 Advertisements
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      Lock icon Page 12 Advertisements Column 1
      259 12 w MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg ,I I, SSean O’F ell, bachelor 2501 ichmond PPaark, Bidef Roadintend marr Olivia GGoonzalez, single Bunga Street ala Alabang Philippines rnbrook dens Po no South, nila, on 26/02/11. An person wing an wful impediment ttoo themarriageshou noti the onsular SS eecction BritishHC,100
      259 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon The value of collaboration
      1193 15  -  In today’s multinational company, collaboration is no longer an optional extra. It is a powerful, must-have tool from the desk of Stephanie Nash Asia-Pacific Senior Human Resource Director, Microsoft RECENTLY, Microsoft participated in a deep-dive research report by Accenture on how companies are harnessing human capital
      1,193 words
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  • SINGAPORE
    • Article
      Lock icon Aug manufacturing growth slows to 8.1%
      383 16  -  Worse than expected figure follows a plunge in biomedical output while all other sectors do well By Teh Shi Ning tshining@sph.com.sg MANUFACTURING growth tapered off further in August, which saw output rise 8.1 per cent year-on-year, its slowest growth rate in nine months. This
      383 words
    • Article, Illustration
      Lock icon West still has a lot to offer, says former UK minister
      681 16  -  By Grace Leong gleong@sph.com.sg WHILE Asia is on the rise and Britain can certainly take cues from Singapore’s economic and political achievements, the sun has not set on the West, says British Labour politician and author Peter Mandelson, who
      ARTHUR LEE  -  681 words
    • Article
      Lock icon Vital to keep Apec primary regional forum
      559 17  -  It’s ‘a very valuable platform’ not to be overshadowed by other regional groupings, says ex-Australian PM Howard By Malminderjit Singh msingh@sph.com.sg THE proliferation of regional groupings needs to be reversed, says John Howard, former prime minister of Australia. At the same time, he
      559 words
    • Article
      Lock icon The ‘Singapore way’ of helping the poor: Tharman
      518 17  -  By Lee U-Wen leeuwen@sph.com.sg FINANCE Minister Tharman Shanmugaratnam yesterday gave policymakers and opin-ion-shapers from all over the world an insight into the “Singapore way” of helping the poor. It is underpinned by employment but, without fanfare, substantial subsidies also make their way
      518 words
    • Article, Illustration
      Lock icon Nature appreciation programme promotes active learning
      187 17 CHILDREN with special needs got a taste of what nature has to offer yesterday through the Special Projects to Understand Nature (SUN) Club, which treated them to the sights and sounds of protected areas such as the Sungei Buloh Wetland Reserve. The nature appreciation
      AIDAH RAUF/ THE STRAITS TIMES  -  187 words
    • Article, Illustration
      Lock icon President’s Charity raises $850,000
      455 18  -  Hottest auction item is a limited edition Hublot F1 King Power, which fetched $90,000 By Samuel Ee samuelee@sph.com.sg THE value of a good brand name was clearly demonstrated yesterday at an auction during the President’s Challenge Charity Tea at the Paddock Club of the Singapore Grand
      455 words
    • Article
      Lock icon Lotus Racing will become Team Lotus
      323 18 FORMULA One team Lotus Racing will change its name to Team Lotus next year, team principal Tony Fernandes said yesterday amid a struggle for control of the brand name in motor sport. The name change from Lotus Racing comes after Mr Fernandes secured the
      323 words
    • Article
      Lock icon CPF to boost HR practices with help from HCS
      290 18 THE Central Provident Fund Board has signed a memorandum of understanding with Human Capital Singapore (HCS) to enhance its human resource practices. Under the MOU, sealed last week, the two parties will collaborate on building human resource tiesamongCPF’smanagersandexecutives to enhance productivity
      290 words
  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      133 16 Pulses October issue out now! waoDh DCBUSMBSTMB I ilses PEOPLE Wayne Chou retixns to cany Popular* 8>yeer-od tradocn TOP STORY THE HITS MISSES IN GREEN TECH STOCKS United Envirotech profiting tram Chna's water wMt Green technology: The next big thing or merely the latest investment bandwagon? United Envirotech profits from
      133 words
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      212 17 INTHEMA EROF THE OMPANIES CT(CHAPTER50) AND INTHEMATEROF AAVVENBUR PROPERTIESLIMITED (INMEMBERS NTAR LIQUIDATION) (REGISTR IONNO*****2691Z) AAtt anEx aordinar ener eeting fo f of themembers theaboe-named CCoompan held Oxley se #0302 heOxleySingapor *****7on 21 eptember 2010, the ollowing rreesolutions dulypasse SPECIALRESOLUTION .1 1. THA the ompan be undup vvooluntari pursuant tion 290(1)(b)
      212 words
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  • WORLD
    • Article, Illustration
      Lock icon First Games athletes arrive from England
      490 19 But they are to stay in hotels rather than the village, where thousands of cleaners have been pressed into urgent action AFP New Delhi INDIA welcomed its first Commonwealth Games athletes yesterday as organisers raced against time to rescue the event amid claims that
      AFP  -  490 words
    • Article
      Lock icon Nike China orders rise 25% on basketball gear
      317 19 Bloomberg New York NIKEInc,theworld’slargestmaker of athletic shoes, reported that orders for China surged 25 per cent, outpacing all other regions on demand for basketballrelated sportswear. Total orders for athletic shoes and clothes for delivery between September and January grew 10 per cent
      Bloomberg  -  317 words
    • Article
      Lock icon Aug durable goods orders fall, but business spending rises
      338 19 latest us data| Reuters Washington NEW orders for long-lasting US manufactured goods fell more than expected in August to post their largest decline in a year as bookings for aircraft and motor vehicles tumbled, but business spending rebounded strongly, a government
      Reuters  -  338 words
    • Article
      Lock icon CSG Systems to buy Intec Telecom for £237m
      175 20 Reuters London US billing firm CSG Systems agreed to buy British rival Intec Telecom Systems for £236.7 million (S$492.5 million) yesterday to create a global presence in business support systems. Intec shareholders will receive 72 pence a share in cash under the
      Reuters  -  175 words
    • Article
      Lock icon Japan keeps forex market guessing about intervention to weaken yen
      548 20  -  But bourse relieved by news of planned release of detained Chinese boat captain By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE authorities refused to confirm yesterday whether or not they had launched further intervention in the foreign exchange market after the yen
      548 words
    • Article, Illustration
      Lock icon HSBC chief to quit after losing boardroom battle
      578 21 Investment banking head Gulliver tipped to be CEO while CFO Flint will be chairman AP Bloomberg London A PUBLISHED report says that HSBC’s chief executive has lost his bid to move up to chairman and will leave the bank by the end
      AP; Bloomberg; AFP  -  578 words
    • Article
      Lock icon Global currency compromise is needed
      365 21  -  iiS REUTERS BREAKINGVIEWS By Ian Campbell btworld@sph.com.sg US and Chinese leaders are meeting in New York with tensions over the cheap yuan running high. That Japan has deliberately weakened the yen further aggravates China. The irony is that America, too, might be said to be
      365 words
    • Article
      Lock icon Oracle has eyes on chip firms: Ellison
      319 21 It also plans to buy industry-specific software companies Bloomberg San Francisco ORACLE Corp, building on a run of more than 65 acquisitions during the past five years, is looking to purchase semiconductor companies and makers of indus-try-specific software, chief executive Larry Ellison said.
      Bloomberg  -  319 words
    • Article
      Lock icon M&A deals return in Q3, but caution rules
      376 22 EU’s down but global figure up 21% so far in 2010 Reuters Philadelphia BUOYED by the busiest August in more than a decade, global mergers and acquisitions (M&A) have risen 21 per cent so far this year, with stable activity in the
      Reuters  -  376 words
    • Article, Illustration
      Lock icon Petrobras raises US$70b in world’s largest share sale
      386 22 Bloomberg Rio de Janeiro PETROLEO Brasileiro, the state-controlled oil company, raised 120.4 billion reals (US$70 billion or S$93 billion) from the Brazilian government and other investors in the world’s largest share sale as it seeks cash to develop offshore fields. Petrobras sold
      Bloomberg; REUTERS  -  386 words
    • Article
      Lock icon Surprise rise in German business confidence
      248 22 AFP Frankfurt GERMAN business confidence posted a surprise rise in September to levels last seen in June 2007 before the onset of the worst global slump since the 1930s Great Depression, a key survey showed yesterday. The Ifo economic research institute said its business
      AFP  -  248 words
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  • SGX
    • Article
      Lock icon Untitled
      9193 23 Transaction date: Sep 24 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 21 13 3148 8Telecom 20 unch 25 20 20 19.5 20 1.7 9.1 6.4 95.8 12 5 5834 A-Sonic 6.5 +0.5
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    • 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 9 4 1181 t AA Grp 4 4 5 22.2 3.9 225 130 6222 t APStrategic 170 +4 29 175 166 170 172
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 4 5 0 0 0 7 4 5 Manufacturing 61 55 78 10 5 13 71 60 91 Commerce 24 21 24 3 5 5 27 26 29 Tpt/Stor/Comms 19 10 17
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      Lock icon BT SHARE INFORMATION SERVICE
      845 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Sep 20 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) C2O Hldgs Ltd 23-Sep-10 Yeo Hldgs Pte Ltd Buy ***** na 0 0.00 ***** 5.73 C2O Hldgs
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,562 19,562 44,311 44,311 Manufacturing 693,924 89,577 783,501 361,163 3,452 364,616 Commerce 112,188 63,437 175,625 169,081 10,130 179,211 Tpt/Stor/Comms 158,609 2,198 160,807 191,581 336 191,917 Finance 28,776 20 28,796 236,606 3 236,609 Construction 185,550 1,884
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  • MARKETS
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      129 27 Sep 24 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2480 1.2850 Can dollar 1.2760 1.2910 Euro 1.7580 1.7790 NZ dollar 0.9590 0.9800 Sterling pound 2.0700 2.0950 US dollar 1.3200 1.3360 Local dollars to 100 units of foreign currency: Currencies Bid
      129 words
    • Article, Illustration
      Lock icon STOCK MARKETS
      97 27 YTD change: +6.73% 52-week high: 3,116.24 on Sept 22,2010 52-week low: 2,576.84 on Oct 5,2009 Source: Bloomberg YTD change: -20.92% 52-week high: 3,361.39 on Nov 24,2009 52-week low: 2,319.74 on July 2,2010 (The market is closed since Sept 22) Source: Bloomberg YTD change:+1.13% 52-week high: 23,099.50 on Nov
      Source: Bloomberg  -  97 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 Sep 23 Index Change Change Change Change Change Change World Index Preliminary 829.9 -0.1 -0.3 -0.1 -5.5 -0.1 0.0 ‡EAFE Preliminary 763.2 -0.3 -2.8 -0.4 -7.7 -0.4 -2.3 Europe Preliminary 1113.5 -0.4
      374 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Sep 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2648 1.2666 0.9531 0.9536 Canadian dollar 1.2860 1.2875 0.9691 0.9694 Euro 1.7719 1.7738 1.3353 1.3355 NZ dollar 0.9678 0.9700 0.7293 0.7303 Sterling pound 2.0811 2.0838 1.5683 1.5689
      154 words
    • Article
      Lock icon LIFFE
      82 27 Sep 23 COCOA (£/tonne) Close Prev High/Low Dec 10 1879 1886 1897/1872 Mar 11 1897 1901 1913/1889 May 11 1912 1915 1924/1909 Jul 11 1924 1927 1937/1922 COFFEE (US$/tonne) Close Pev High/Low Sep 10 1726 1686 1712/1707 Nov 10 1737 1696 1740/1701 Jan 11 1764 1721 1768/1720 Mar 11
      82 words
    • Article
      Lock icon CHICAGO BOT
      93 27 Sep 23 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Nov 10 1093.*****8.*****8.*****9.50 Jan 11 1103.*****8.*****8.*****9.25 Mar 11 1110.*****6.*****5.*****7.25 May 11 1113.*****8.*****8.*****0.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Oct 10 43.51 42.87 43.65 42.78 Dec 10 43.90 43.26 44.13 43.17 Jan 11 44.22 43.58 44.41
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    • Article
      Lock icon OIL
      75 27 Sep 23 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 77.99 0.39 WTI (Near Mth) 73.12 0.31 Dubai (1-Mth F) 74.78 -1.37 Tapis blend 83.85 -1.30 Minas 77.15 -1.35 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 73.27 -0.61 Jet Kerosene 87.40 -0.75 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon LONDON METALS
      71 27 Sep 23 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2260.50 2202.75 3 months 2292.00 2235.00 Copper, Grade A (US$/tonne) Cash 7883.00 7837.50 3 months 7885.00 7845.00 Lead (US$/tonne) Cash 2246.50 2194.50 3 months 2275.00 2223.50 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon METALS
      65 27 GOLD (US$/oz) Sep 22 Sep 24 Hong Kong 1289.*****7.10 Sep 22 Sep 23 London 1292.*****3.25 1293.*****3.50 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 28.12 27.90 Source: UOB PLATINUM /Lon (US$/oz) Sep 23 Close Previous PM Fix 1631.*****2.00 AM Fix 1632.*****8.00 Source: Thomson Reuters PLATINUM NYMEX (US$/oz) Sep
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    • Article
      Lock icon PALM OIL
      66 27 Sep 24 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 10 2737 2742 2753 2737 311 2292 Nov 10 2691 2699 2710 2688 2919 ***** Dec 10 2679 2701 2710 2678 6772 ***** Jan 11 2690 2704
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      Lock icon Untitled
      2 27 Sep 24
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon A recovery that doesn’t feel like one
      916 28 / 29  -  The US recession is over. In fact, the economy has been growing since June 2009. That’s according to the US National Bureau of Economic Research. But for many Americans it is difficult to talk about a recovery when unemployment remains high, when incomes
      AFP  -  916 words
    • Article
      Lock icon Claim of a ‘cornered’ market based on unfounded premise
      602 28 / 29  -  letters to the editor Sovann Giang Executive director Singapore Institute of Directors WE refer to the letter “The ‘market’ for directors does not function well” by Tan Lye Huat (BT, Sept 21). We agree with Mr Tan that there is no
      602 words
    • Article
      Lock icon CAAS clarifies amounts for two projects
      99 28 / 29  -  Daniel Ng Deputy Division Head (Aviation Industry) Civil Aviation Authority of Singapore WE refer to the article “CAAS grants $50m to aviation devt projects” (BT, Sept 24). We would like to clarify that the grants awarded to the two projects are not valued at
      99 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon More global reflation ahead
        1361 30 / 31  -  The central banks of the G3 may undertake another round of monetary easing to support economic recovery and this has major implications for foreign exchange markets, the gold price and the next asset price bubble. By Shane Oliver By Shane Oliver The writer is head of
        REUTERS; Source: Global Financial Data, AMP Capital Investors; Source: Thomson Financial, RBA, AMP Capital Investors  -  1,361 words
      • BROKERS' TAKE
        • Article
          Lock icon Sembcorp Marine
          370 30 / 31 Buy OCBC Investment Research Sept 24 Close: $3.92 SETTLED the last of previous transaction disputes. Sembcorp Marine (SMM) announced that its subsidiary Jurong Shipyard, has reached an agreement with Societe Generale (SocGen) for a “full and final” amicable settlement of the previous disputed foreign exchange transactions. SocGen will
          370 words
        • Article
          Lock icon Olam International
          319 30 / 31  -  Buy DBS Group Research Sept 24 Compiled by Joyce Joyce Hooi Close: $3.15 OLAM today issued a statement on SGX saying that it had engaged in preliminary confidential discussions with Louis Dreyfus Commodities (LDC) in relation to a possible business collaboration which may take the form of, among
          319 words
      • Article, Illustration
        Lock icon Getting the right money-happiness balance
        921 32  -  Achieving the trade-off between a satisfying job and a satisfying pay cheque depends on one’s values, priorities, family obligations and spending habits. By Phyllis Korkki By Phyllis Korkki NYT DOES earning a higher salary make you happier? It’s an issue that tugs at many of
        NYT; REUTERS  -  921 words
      • Article, Illustration
        Lock icon Shares some way from irrational exuberance of 2007
        1136 33  -  Comparison of prices in four regional markets shows that despite similar index levels, many shares are still below their peaks 3-4 years ago show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder I HAD lunch
        REUTERS  -  1,136 words
    • WEALTH REAL ESTATE
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  • Page 34 Advertisements
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  • Page 36 Advertisements
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      54 36 iUDEMARS PlGUET Le maitre de I'horlogerie depuis 1875 r: ■s -'J v. 6 t ft o I i iM I x\ ¥v,3f. x V V N i m. W See® f-JE; i K gfrr n* tr f/fi m%sfr n &w r~ 7 P m te MILLENARY SELFWINDING For enquiries, Tel:
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      64 1 LivingTHEBUSINESSTIMESWEEKEND|SEPTEMBER25-*****0BTTHE BUSINESS TIMES WEEKEND SEPTEMBER 25-26 2010 STYLE The London Collections L6-7 YOUNG MINDS OLD HANDS Meet the new breed of private chefs, aged 19 to 29 WATCHES Race against time L12 MING TAN OF JAM PHOTO: JOHN HENG GADGETS All-in-one PCs L13 HOME GARDEN Memories are made of this
      64 words
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  • BT Living
    • DINING
      • YOUNG MINDS, OLD HANDS
        • Article, Illustration
          Lock icon Jonathan and Sean Gwee
          1060 2 / 3  -  Bramble enquiry.bramble@gmail.com Despite their tender years, they’re no strangers to putting together multi-course gourmet dinners. BT Weekend meets some culinary talents, aged 19 to 29, who are hiring themselves out as private chefs and cooking up some pretty hot meals By Geoffrey Eu btnews@sph.com.sg WHEN members
          BRAMBLE PHOTOS BY JOHN HENG  -  1,060 words
        • Article, Illustration
          Lock icon Melvyn Lee
          701 2 / 3  -  Funky Chef melvyn@funkychefs.sg By Audrey Phoon aphoon@sph.com.sg WHEN Melvyn Lee says that he started from the ground up, he means it quite literally. As an aspiring 15-year-old chef, he took to voluntarily sweeping the grounds of a well-regarded Italian restaurant near his secondary school when the restaurant rejected
          PHOTO COURTESY OF MELVYN LEE  -  701 words
        • Article, Illustration
          Lock icon Jeremy Cheok, Alroy Chan and Ming Tan
          1016 4 / 5  -  JAM www.oooh-jam.com By Melissa Lwee THOSE who still remember secondary school sports politics will know that when it comes to rugby, Saint Andrew’s Secondary School, Raffles Institution and An-glo-Chinese School (Independent) have traditionally been keen rivals a notion fully understood by Jeremy Cheok,
          JAM PHOTOS BY JOHN HENG  -  1,016 words
        • Article, Illustration
          Lock icon Jeremy Nguee
          898 4 / 5  -  www.dumplingdiaries.com By Melissa Lwee mellwee@sph.com.sg IF YOU want to hire Jeremy Nguee as a private chef, you must give him at least two weeks’ notice to do research. “I’m a foodie in the real hard-core sense of the word,” confesses the 29-year-old who holds a day job as
          PHOTOS COURTESY OF JEREMY NGUEE  -  898 words
      • Article
        Lock icon wine & dine with BTWeekend
        541 4 / 5 wine dine with BTWeekend Bar on 5 Mandarin Orchard Singapore, Level 5 333 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
        541 words
    • STYLE
      • Article, Illustration
        Lock icon Brit minimalism
        1402 6 / 7  -  Streamlined shapes given a fresh coat of paint such seems to be the theme of the London Collections. Rather than make wide-sweeping statements, British designers sent out accessible clothes, fusing minimalist designs and concept (1990s Minimalism seems to be making a comeback this season), with bold prints, vivid
        PHOTOS: AP, AFP, XINHUA  -  1,402 words
      • Article, Illustration
        Lock icon Designed to charm
        891 8  -  Style news what’s happening in the local and international fashion scene.By Melissa Lwee Designed scene.By Melissa Lwee mellwee@sph.com.sg IT will be exhibition heaven here in Singapore over the next few months when fashion lovers indulge in designer shows of the arty kind. 1 Valentino retrospective ITALIAN design
        VALENTINO PHOTO: JEAN THOLANCE  -  891 words
    • BEAUTY
      • FEEL-GOOD FACTOR
        • Article, Illustration
          Lock icon St Gregory
          673 9  -  Level 4, Pan Pacific Singapore 7 Raffles Boulevard, Marina Square ?6826-8140 By Corinne Kerk btnews@sph.com.sg THESE days, a massage is not just a massage. Newfangled treatments are often created, more for a spa to differentiate itself than for the true therapeutic qualities of the treatments themselves. So it
          673 words
        • Article, Illustration
          Lock icon Clariancy Aesthetic Clinic
          686 9  -  #02-15/15 Raffles Hotel Arcade 328 North Bridge Road ?6338-2619 www.clariancy.com Whether it’s traditional therapies or cutting-edge treatment capsules you prefer, you can expect lots of pampering at these two newly opened establishments By Audrey Phoon aphoon@sph.com.sg WHERE do space-age-looking treatment capsules, tasselled drapes and paintings in gilded
          686 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Memories are made of this
        1282 10/11  -  In Marc Boey’s apartment, a bygone era meets modern functionalism with an open layout that’s new and refreshing, yet infused with character from bits and pieces of vintage furniture. By Corinne Kerk personal space By Corinne Kerk btnews@sph.com.sg THERE’S a sense of nostalgia in the
        PHOTOS BY YEN MENG JIIN  -  1,282 words
    • WATCHES
      • Article, Illustration
        Lock icon Race against time
        791 12  -  The world of motor racing and horology are formidable partners who inspire each other as these exquisite watches prove. By Dylan Tan By Dylan Tan dylantan@sph.com.sg IN A sport where timing is everything, it’s little wonder the relationship between the world of horology and motor racing is
        791 words
    • GADGETS
      • Article, Illustration
        Lock icon LESS IS MORE
        957 13  -  The latest all-in-one PCs have plenty of brawn and are easier to use than ever. By Christopher Lim By Christopher Lim limchris@sph.com.sg BIGGER is usually better in the world of gadgets, but computers have become so powerful these days that most people no longer need huge hulking
        957 words
    • TRAVEL
      • Article, Illustration
        Lock icon More than a mere tipple
        928 14 With added attractions such as restaurants, farmers’ markets, swimming pools and even Dracula memorabilia, Sonoma and Napa Valley wineries are turning themselves into one-stop destinations for the entire family AP THINK a winery visit means bellying up to a bar with a couple of glasses
        AP; PHOTOS: AP  -  928 words
    • HEALTH
      • Article, Illustration
        Lock icon Mammogram debate continues
        431 15 LATWP THERE’S a new salvo in one of the most politically and emotionally charged debates in medicine: How often should women get routine mammograms? That question erupted in the middle of the battle over overhauling the health care system when a US federal task force recommended that
        LATWP  -  431 words
      • Article, Illustration
        Lock icon The trouble with HRT...
        475 15 A Canadian study linking it to increased breast cancer risk adds to worries over hormone use for menopause Reuters BREAST cancer rates among postmenopausal women in Canada dropped nearly 10 per cent after news of a big study in 2002 that found taking hormone replacement therapy
        Reuters; ST FILE PHOTOS  -  475 words
    • SPORT
      • Article, Illustration
        Lock icon ‘Berba-flop’ no more
        676 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor FOOTBALL fans can be a fickle bunch. Trust me, I’m one of them. Just six months ago, I was about ready to throw my shoe at the TV screen after watching Dimitar Berbatov miss chance after chance in
        AP  -  676 words
      • Article, Illustration
        Lock icon Singapore GP’s the make or break race
        637 16  -  pit stop with steve slater Steve Slater Steve Slater is an F1 race commentator on STAR Sports’ coverage of the Formula One EVEN by the close-fought standards of the past three world championships, the final races of this year’s Formula One title series
        637 words
    • BT CORPORATE GOLF LEAGUE 2010
      • Article
        Lock icon Testing Tanjong
        210 17  -  Sentosa Golf Club’s Tanjong course will no doubt prove a major challenge. By Justine Moss By Justine Moss AS The Business Times Corporate Golf League moves into the fifth round, Big Fish Innovative Technology has a handy lead of seven points over Centurion which is tied in second
        210 words
      • Article, Illustration
        Lock icon Priceless fun
        439 17  -  By Justine Moss AN unfortunate round at SICC’s Island course last week, where only two players’ scores contributed to MasterCard’s game total of 55 (instead of the customary three), has led to them dropping from seventh to 21st place going into the fifth round of The Business Times
        439 words
      • Article, Illustration
        Lock icon Banking on consistency
        350 17  -  By Justine Moss PETER Teo, deputy CEO, Bank of Singapore and team captain of the OCBC team, is thoroughly enjoying playing in this year’s Business Times Corporate Golf League. He attributes this to a well-organised tournament with a good choice of courses and networking opportunities that have
        350 words
      • Article
        Lock icon Spreading the joy
        233 17  -  By Justine Moss CONFIDENT that this would be one of the most interesting events on the local golfing scene, Acushnet decided to sponsor FootJoy (FJ) Golf Shirts and Techsof Golf Socks for all participants. “From FootJoy’s perspective, it was also a good time to introduce the MyJoys
        233 words
    • MOTORING
      • Article, Illustration
        Lock icon MODERN MARVEL
        650 18  -  The Mercedes-Benz SLS AMG is inspired by the Mercedes-Benz 300SL of the 1950s, with its signature feature being its roof-hinged gullwing doors. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE launch of a super sports car does not usually lend itself to any lighthearted moments but there was
        MERCEDES-BENZ  -  650 words
      • Article, Illustration
        Lock icon The XX factor
        478 19  -  The Ferrari 599XX brims with electronic driver aids that will help to increase its performance. By Samuel Ee By Samuel Ee samuelee@sph.com.sg ONE of Ferrari’s most extreme models has arrived in Singapore to introduce the Prancing Horse’s Corse Clienti racing programme to local owners. Currently parked in
        YEN MENG JIIN  -  478 words
      • Article, Illustration
        Lock icon A lap for charity
        270 19  -  A total of $850,000 will be raised for the President’s Charity By Samuel Ee samuelee@sph.com.sg THE Ferrari 599XXwill be among the 28 Ferrari super sports cars that will be flagged off by President S R Nathan at 8pm at the Marina Bay Circuit tonight.TheeventisthePresident’sChallengeCharityParade and the
        FERRARI  -  270 words
      • Article, Illustration
        Lock icon Wet and wild
        718 20 Heavy rain could present a serious test to the drivers in tomorrow’s night race. f1 watch AFP Reuters CHAMPIONSHIP leader Mark Webber set the pace in yesterday’s opening free practice session for this weekend’s Singapore night race as the drivers got to grips with the demanding street
        AFP; Reuters; PHOTOS: AP, REUTERS  -  718 words
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