The Business Times, 29 January 2011
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2011-01-29
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The Business Times
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Title Section17 2011-01-29 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JANUARY 29-30, 2011 S$1.00 MICA(P) 139/08/2010 S|2l A SINGAPORE PRESS HOLDINGS PUBLICATION17 words
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Article40 2011-01-29 1 property watch RISE is a tad higher than the 2.4 per cent estimated earlier this month even as the number of deals and the cash over valuation amounts commanded by flats fell. 440 words
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36 2011-01-29 1 excess curb DESPITE an increase in demand for staff, the increase in the median UK bank bonus from a year ago averaged only 5 per cent, says careers website eFinancialCareers. 636 words
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Article39 2011-01-29 1 stormy flight CARRIER reports a sharp 28.6 per cent dive in third-quarter profit to $288.3 million as it was forced to make huge provisions for antitrust fines in the US and Europe. 1139 words
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Article30 2011-01-29 1 bullish outlook TRANSPORT engineering companies are the most optimistic while marine and offshore engineering firms expect more orders as the price of crude oil rises. 1630 words
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1028 2011-01-29 1 Kalpana Rashiwala - URA’s sub-index for detached homes soars 37.6%, boosting overall index’s gain to 17.6% By Kalpana Rashiwala kalpana@sph.com.sg Singapore Ianwethe201N a year fuelled by strong liquidity and economic growth, bungalows were the stars that led the surge in the Singapore property market in 2010. Latest1,028 words
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Article, Illustration315 2011-01-29 1 Barely 18 months in the job, he says he has decided to take a breather and spend more time with his family Singapore THOMAS Arasi, the chief executive of Marina Bay Sands (MBS), has resigned and will leave on Feb 18. Reuters said315 words
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Page 1 Advertisements
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Advertisement18 2011-01-29 1 the business www.businesstimes.com.sg the raffles conversation FRENCH POLYMATH JACQUES ATTALI 8-9 LIVING New F&B concepts in town L2-518 words
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Advertisement9 2011-01-29 1 WEALTH Is gold starting to lose its shine? 30-319 words
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TOP STORIES
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Article, Illustration742 2011-01-29 2 Chen Huifen - Hospital will be eyeing a slice of the medical tourism pie as well, says CEO By Chen Huifen xuifen@sph.com.sg Singapore MALAYSIA is beckoning to Parkway Holdings as the group nails its second major deal there since being taken private by sovereign wealth742 words
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Article140 2011-01-29 2 G STI 3,229.69 (+9.86) G STI FUTURES 3,230 (+10) G SIMSCI 381.98 (+0.18) H SIMSCI FUTURES 381.30 (-0.90) STOCKS Friday Change KL COMP 1,521.89 -5.07 NIKKEI 225 10,360.34 -118.32 HANG SENG 23,617.02 -162.60 SET 981.83 -4.88 JAKARTA 3,487.61 -27.01 MANILA 3,970.34 -20.15 KOSPI 2,107.87 -7.14 SHENZHEN B 825.98 +1.42140 words
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527 2011-01-29 3 It may happen sooner than expected as the country’s budget deficit widens Bloomberg New York MOODY’S Investors Service has said that it may need to place a “negative”outlookontheAaa rating of US debt sooner than patedasthecountry’sbudgetdeficit widens. The threat of a lower ratingBloomberg - 527 words
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Article, Illustration478 2011-01-29 3 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo IN THE wake of a downgrade of Japan’s long-term government debt by rating agency Standard Poor’s (S&P) on Thursday, and concern voiced by the International Monetary Fund (IMF) on the state of the nation’s public finances, Prime Minister478 words
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708 2011-01-29 4 Uma Shankari - Up to 22,000 new flats may be offered under the build-to-order system By Uma Shankari shankari@sph.com.sg Singapore HDB resale prices rose by 2.5 per cent in the fourth quarter of 2010 a tad higher than the 2.4 per cent climb estimated earlier708 words
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Article, Illustration536 2011-01-29 4 Emilyn Yap - Opportune time to revisit office project as rents recover By Emilyn Yap emilyny@sph.com.sg Singapore PLANS to redevelop Market Street Car Park into an office building could be back on track, now that its owner CapitaCommercial Trust (CCT) has obtained provisional536 words
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681 2011-01-29 5 Uma Shankari - URA data also shows nearly half of them will be in the core central region By Uma Shankari shankari@sph.com.sg Singapore CLOSE to half of the estimated 8,430 new private homes that are slated to be completed in 2011 will be681 words
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452 2011-01-29 6 S Jayasankaran - Tighter measures, however, may dampen market for M&As in the country By S Jayasankaran bt wo rl d @s p h .co m .sg Kuala Lumpur MALAYSIA’S markets regulator, the Securities Commission (SC), together with Bursa Malaysia yesterday announced new measures to enhance452 words
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Article, Illustration821 2011-01-29 6 Neil Behrmann - By Neil Behrmann bt wo rl d @s p h .co m .sg London BANK bonuses in the UK are slightly higher than last year but banks are under pressure to tweak compensation to satisfy regulators, governments and theBLOOMBERG - 821 words
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Article, Illustration1094 2011-01-29 7 Joyce Hooi - Google’s currency is data it helps advertisers with code and algorithms By Joyce Hooi joyceh@sph.com.sg Singapore THIS year is going to be a Googly one, whether you like it or not. The online giant is set to hire more than 6,000 people worldwide, in whatARTHUR LEE - 1,094 words
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Page 2 Advertisements
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Advertisement59 2011-01-29 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 30-31 Wealth Insights 32 Show Me Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-7 Dining/Shopping L8-9 Travel L10-11 Style59 words
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Page 3 Advertisements
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Advertisement283 2011-01-29 3 CS; SINGAPORE MEDICAL SPECIALISTS CENTRE Have you had your Health Screening? Do not hesitate! Early prevention and detection is vital. At Singapore Medical Specialists Centre, we will help you identify which of our specially tailored comprehensive health screening package best suits you! With our "one-day, one-stop" concept, you will be283 words
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Page 5 Advertisements
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Advertisement73 2011-01-29 5 -T H ESINGAPORE —SWEEP— Draw on 2 Feb (Wed), Chinese New Year's Eve 1 ST PRIZE $2 SUPER SWEEP ,200,000 $500,000 $250,000 $300,000 2 nd p R ZE 3 rd PRIZE •w;l 0 •S35 AS E 02/2011 lst Pri«$2.IMilU<m 2nd Prize 3rd Prize S250.W $3; ft. p |_AY(i) Always play73 words
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Page 7 Advertisements
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Advertisement66 2011-01-29 7 MATS NOTICES EXPRESSION OF INTEREST Jurong Port is a leading international multi-purpose port operator headquartered in Singapore, handling general, bulk and containerised cargo. The port handles more than 40,000 vessel calls annually. We invite interested companies to lease land to: Develop operate a cement plant in Jurong Port EOI Submission66 words
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THE RAFFLES CONVERSATION
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Article, Illustration2049 2011-01-29 8/9 Vikram Khanna - ManFrench polymath Jacques Attali talks to Vikram Khanna about the problems of the eurozone and the multiple passions that make up his world Vikram Khanna vikram@sph.com.sg AS I walk with Jacques Attali after lunch across the courtyard of the Raffles Hotel to his suite for our interview,JOYCE FANG/THE STRAITS TIMES - 2,049 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK Jan 24-28, 2011
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54 2011-01-29 10 THE government has set new regulatory standards in junket licensing the likes of which, some gaming insiders say, are unprecedented. A New Jersey-based gaming industry consultant has been hired to conduct background checks on several entities that have applied for junket54 words
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53 2011-01-29 10 SINGAPORE doesn’t come to mind as an art collection capital off the top of people’s heads at least not yet. But after the top-billing art fair Art Stage Singapore swept through town in mid-January, the perception seems to be changing, sooner than53 words
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50 2011-01-29 10 THE commercial start up of ExxonMobil’s mega US$5-6 billion second petrochemical complex on Jurong Island, scheduled for the second half of this year, may be delayed.Citing some construction “issues”, sources said that the start up could now be pushed back to early next year.50 words
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60 2011-01-29 10 SINGAPORE expects to attract $12-14 billion in investment commitments in 2011, after record levels of investment secured last year. The Economic Development Board said that fixed asset investments hit $12.9 billion in 2010, the highest on record save for spikes in 2007 and60 words
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49 2011-01-29 10 Sing keeps climbing, chased by inflation THE Singapore dollar rose against the US dollar on Tuesday as sharp inflation here in December fanned expectations of further monetary tightening ahead. Meanwhile, growing risk appetite around the world and weak economic prospects in the US added downward pressure on the greenback.49 words
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Article, Illustration78 2011-01-29 10 SPICE i2i chairman Bhupendra Kumar Modi wants to take on Silicon Valley with yet another acquisition and a possible switch in listing locations. Spice i2i has bought Indonesian mobile retailer Selular Group for US$175 million and its parent, Spice Global, is mullingFILE PHOTO - 78 words
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60 2011-01-29 10 WALL Street was buoyed in the wake of President Barack Obama’s pledge to create jobs, spur growth, increase spending for education and cut corporate taxes in his annual State of the Union address. And even though many dismissed his most60 words
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37 2011-01-29 10 THEY got come-hither looks from Singapore and they rose to the occasion. They are infocomm technology start-ups from around the world, driven by innovation and putting money on the table.37 words
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62 2011-01-29 10 AS more condos and apartments are being bought by foreigners, the increase in the number taken up by non-permanent residents is outpacing that of PRs. In a trend led by Chinese and Indian nationals, the number of non-landed private homes picked up by foreigners62 words
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57 2011-01-29 10 IT was a downgrade that might not have been totally unexpected. But global financial markets nevertheless sat up as Standard Poor’s cut its credit rating on long-term Japanese government bonds the first such downgrade in nearly nine years. The move could be57 words
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64 2011-01-29 10 FAR from slowing, the US government’s deficit spending will surge to a record US$1.5 trillion this year, the Congressional Budget Office estimated, blaming the slow economic recovery and last month’s tax-cut law. What is more daunting for President Barack Obama is that it64 words
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58 2011-01-29 10 SINGAPORE has seen a marked rise in economic volatility over the past decade, with record surges and plunges in output. But gross national income, rather than GDP, would be a “much more stable and more sensible” measure of what’s going on, says Michael Spencer,58 words
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Article81 2011-01-29 10 US DATA Jan 31 Personal spending Feb 1 Construction spending Feb 2 Crude inventories Feb 3 Unit labour costs Initial claims Continuing claims Factory orders Feb 4 Unemployment rate SINGAPORE DATA Jan 31 Dec unemployment rate Dec employment rate Q1 business expectations Dec central government81 words
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Page 10 Miscellaneous
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Miscellaneous303 2011-01-29 10 CRYPTIC CROSSWORD Across 1 Working daily? In theory (2,5) 5 Jotter found in flat next to record (4-3) 9 Heron, say, on far side of moat (5) 10 Voluntary worker at marina’s injured (9) 11 Team triumph, the German air-to-air missile (10) 12 Exempt from toll crossing river (4) 14303 words
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Miscellaneous10 2011-01-29 10 SATURDAY with Ludwig ‘It used to be a suggestion box...’10 words
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COMPANIES
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615 2011-01-29 11 Ven Sreenivasan - Net earnings for the quarter dive 28.6% to $288.3m; revenue rises 12.4% to $3.84b By Ven Sreenivasan ven@sph.com.sg Singapore SINGAPORE Airlines reported a sharp 28.6 per cent dive in third-quarter profit to $288.3 million, from $403.7 million a year earlier, as it615 words
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428 2011-01-29 11 Felda Chay - By Felda Chay feldac@sph.com.sg Singapore SMRT Corp had a smoother ride for its fiscal third quarter from October to December last year. The transport operator’s net profit for the three months rose 9.6 per cent year-on-year on higher rider volumes for its428 words
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Article567 2011-01-29 11 Ven Sreenivasan - By Ven Sreenivasan ven@sph.com.sg Singapore BUDGET airline Tiger Airways boosted its net profit for its Octo-ber-December 2010 third quarter by 60.3 per cent to $22.6 million, from $14.1 million a year ago. Its pre-tax profit was up 85.3 per cent at $30.2 million, from $16.3567 words
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Article339 2011-01-29 12 Lynette Khoo - Its S’pore-listed shares rebound 4.7% after error on Korea Exchange website is corrected By Lynette Khoo lynkhoo@sph.com.sg Singapore CHINA Gaoxian shares in Singapore rebounded yesterday as its Korean Depository Receipts (KDRs) sprang back with a vengeance after an erroneous price-earnings (PE) ratio on the Korea339 words
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485 2011-01-29 12 Felda Chay - By Felda Chay feldac@sph.com.sg Singapore IN what appears to be Shanghai Asia Holdings’ (SAH) second attempt to explain its decision to sell off all its businesses at a price and manner that some minority shareholders have described as a distressed sale, the company485 words
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Business briefing
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88 2011-01-29 12 SOUND Global has won a deal for 18 water treatment plants in Changsha County, Hunan Province, China. The project includes the investment, build, operation and transfer (BOT) of 16 urban-rural waste water treatment plants (with a total capacity of 29,400 tons per day)88 words
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93 2011-01-29 12 CHASEN Holdings Ltd has clinched two relocation projects in China through its wholly owned subsidiary, Chasen (Shanghai) Hi-Tech Machinery Services Pte Ltd. The projects, which involve the relocation of TFT LCD plants, have a combined value of 58.45 million yuan (S$ 11.39 million). The93 words
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Article72 2011-01-29 12 NTEGRATOR International Ltd warned that it will be reporting a substantial decrease in revenue and a loss for FY2010. This is due to delays to projects which prevented them from being completed in the second half of 2010. As a result, the group was not72 words
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98 2011-01-29 12 PAN Hong Property Group saw third quarter net profit more than double to 125.2 million yuan (S$24.4 million), from 56.8 million yuan a year earlier. Its revenue more than quadrupled to 400.13 million yuan for the three months ended Dec 31, from 86.9598 words
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Article50 2011-01-29 12 JADE Technologies reported a Q1 net profit of 866,000 yuan (S$168,700), turning around from a loss of 3.4 million yuan a year earlier. Revenue was 36.2 million yuan for the three months ended Dec 31, 2010, compared with 1.2 million yuan a year earlier.50 words
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327 2011-01-29 12 Winston Chai - By Winston Chai winstonc@sph.com.sg Singapore SINGAPORE tions’questtocompleteitsrepertoire is now over as Warner Music Group becomes the last among the major record labels here to put its weight behind the operator’s music download service. The deal with Warner, which also represents British music group327 words
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Article, Illustration595 2011-01-29 13 R Sivanithy - No Chinese New Year rally in sight prices are still confined within narrow ranges amid sub-$2 billion average daily liquidity this week STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent CHINESE New Year rally? Not really there was not much to distinguish this595 words
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Article111 2011-01-29 13 VOL CLOSE GentingSP 101,396 204 -2.0 -1.0 GoldenAgri 64,654 70 -1.5 -2.1 NexGenSComW*****2 51,337 3 0.5 20.0 TranscuGrp 51,152 7.5 0.0 0.0 ChinaGaoxian 50,680 33.5 1.5 4.7 UniFiber 43,772 5.5 0.0 0.0 NexGenSCom 40,164 5.5 0.0 0.0 GMGGlobal 35,033 31 0.0 0.0 Spicei2i 32,403 8.5 0.5 6.3111 words
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Article108 2011-01-29 13 Stock name Close Change Stock name Close Change CapMallsAsia 1.870 -0.020 CapitaLand 3.640 -0.010 CapitaMall 1.950 CityDev 11.740 -0.020 ComfortDelGro 1.620 -0.010 DBS Grp 15.140 +0.060 F&N 6.460 +0.010 Genting SP 2.040 -0.020 Golden Agri 0.700 -0.015 HK Land 7.230 -0.050 JMH 47.000 +1.600 Noble Grp 2.230 -0.010108 words
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Article, Illustration343 2011-01-29 13 Lynn Kan - By Lynn Kan lynnkan@sph.com.sg Singapore STENTS maker Biosensors International Group reported net profit of US$13.3 million for its third quarter ended Dec 31, 2010, up 8 per cent from US$12.4 million a year earlier. Revenue surged 32 per cent to US$42.6 million from343 words
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Article62 2011-01-29 13 BY CENTS CLOSE UP JMH 4700 205.0 3.5 DBXT AUD Bonds 5AU5 ***** 1433 0.7 JSH 2864 135.8 3.8 DBXT FTVietnam 10USS 3915 119.2 2.4 DBXT MSUSA 10US$ 3086 38.4 1.0 IS MSCI Spore 1404 38.4 2.2 IS DJ US Tech 6789 24.4 0.3 Straits Trdg 393 22.062 words
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Article64 2011-01-29 13 BY CENTS CLOSEDOWN DBXT Nifty 10US$ ***** -524.1 -3.3 GLD 10U5$ ***** -269.1 Lyxor India Nifty 10 1552 -52.0 -3^2 DBXT MSINDO lOusS 1283 -43.7 -29 Kep Corp.ES.1102 1196 -42.0 -3.4 DBXT DBCBDJUBS 10US5 3700 -38.4 -0.8 Lyxor China H 10USS 1615 -38.4 -1.8 IS M5CI India 10064 words
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Article, Illustration476 2011-01-29 14 Teh Shi Ning - The company has declared a dividend of 1.25 cents per share to be paid on Feb 28 By Teh Shi Ning tshining@sph.com.sg Singapore SINGAPORE Post’s third quarter net profit slipped 0.7 per cent to $43.8 million, from the previous corresponding quarter’s $44.1 million. But476 words
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Article, Illustration544 2011-01-29 14 Michelle Quah - By Michelle Quah michquah@sph.com.sg Singapore FRAGRANCE Group reported higher revenue and net profit for the fourth quarter ended Dec 31, 2010, as it recognised better takings from its property projects and higher occupancy and room rates at its hotels. Its full-year revenue, however, dippedFILE PHOTO - 544 words
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Page 11 Advertisements
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Advertisement50 2011-01-29 11 SENTOSA COVE FINEST BUNGALOWS FOR SALE (Serious Sellers) OCEAN DRIVE I Rare Unblocked Sea View 7,900/5,900 sqft Modern Design, 6 +1 Audio Room Pool TREASURE ISLAND 1 8,400/6,500 sqft 5 1 1 Audio Room Pool Berth for boat COVE WAY 18,1 00sqft/13,900sqft, 6+1 Pool, Berth. 9487 0396 Cosmopolitan Real Estate50 words
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Page 13 Advertisements
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Advertisement179 2011-01-29 13 In The Matter of The Companies Act, Cap. 50 And In The Matter of THE GOLD LABEL PTE. LTD. (Co. Reg. No. *****7468G) NOTICE OF CREDITORS’ MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICEISHEREBYGIVENthatpursuant to Section 296 of the Companies Act, Cap. 50, a meeting of179 words
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Page 14 Advertisements
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Advertisement20 2011-01-29 14 IT'S HERE! ..ill 3G 2:40 PM t> LnHDinG... ■S GET THE FREE 9I.3FM APP NOW! Available on the App Store20 words
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FROM THE DESK OF
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Article, Illustration807 2011-01-29 15 Peter Hill - By implementing appropriate strategies with the right systems in place, firms can achieve growth while reducing costs and mitigating risks from the desk of Peter Hill Managing Director SimCorp Asia RISK and costs are key strategic drivers of the financial industry. As such, it is imperative that807 words
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SINGAPORE
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Article558 2011-01-29 16 Teh Shi Ning - While the mood was up across all sectors, transport engineering ones are the most optimistic By Teh Shi Ning tshining@sph.com.sg MANUFACTURERS across all sectors are upbeat on business prospects in the coming six months, the Economic Development Board’s latest quarterly survey shows. Transport engineering ones are558 words
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278 2011-01-29 16 BUSINESS leaders of five major foreign companies here yesterday received national honours from President SR Nathan for their contributions to Singapore’s economy. Panasonic Corporation president Fumio Ohtsubo and United Technologies Corporation chairman and CEO Louis Chênevert received the Public Service Star (Distinguished Friends of278 words
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Article, Illustration200 2011-01-29 16 UBS yesterday sent a 200-strong contingent to take international delegates from the 21st International Association for Volunteer Effort (IAVE) World Volunteer Conference on a food tour. Members of staff, their families and partners took 500 conference delegates on 10 different food trails across the200 words
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Article, Illustration509 2011-01-29 17 Lynette Khoo - Tony Tan calls on regulators to avoid blanket rules that would deter long-term investors By Lynette Khoo lynkhoo@sph.com.sg LONG-TERM investing is likely to decline in the coming years as markets become more volatile and traditionally long-term investors seek liquidity, said GIC deputy chairman and executive directorFILE PHOTO - 509 words
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278 2011-01-29 17 FROM March 5, Singapore Cruise Centre Pte Ltd (SCC) will have a new chief executive officer Christina Siaw Mong Lee. Ms Siaw will be taking over from Cheong Teow Cheng, who will be retiring. Ms Siaw, who has more than two278 words
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251 2011-01-29 17 COME March, visitors will be able to not only view the Merlion, but to stay in it too. As part of this year’s Singapore Biennale, organised by the Singapore Arts Museum, the iconic statue will be transformed into a temporary hotel suite for251 words
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235 2011-01-29 17 THE first school in Tianjin Eco-city yesterday marked its structural completion with a topping-up ceremony. The school the Tianjin GEMS World Academy (GWA) is a joint venture between the Sino-Singapore Tianjin Eco-city Investment and Development Co (SSTEC) and GEMS Education with an235 words
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377 2011-01-29 18 Conrad Tan - Bridging Loan Programme to be withdrawn as bank lending recovers in tandem with broader economy By Conrad Tan conradt@sph.com.sg THE government will withdraw some of the financial assistance schemes for businesses that it introduced during the recent financial crisis as credit conditions have377 words
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Article, Illustration551 2011-01-29 18 Siow Li Sen - saturday soapbox Siow Li Sen lisen@sph.com.sg Senior correspondent AS BT readers mull over their annual promotion and pay increment letters, many will be smiling because their employers are rewarding staff in line with the fastest growth Singapore thatFILE PHOTO - 551 words
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Page 17 Advertisements
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Advertisement21 2011-01-29 17 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg21 words
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Page 18 Advertisements
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Advertisement12 2011-01-29 18 www.omy.sg >#TJ yzone.omy.sg showtime, omy.sg k V 1 kk I ft i12 words
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WORLD
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Article, Illustration596 2011-01-29 19 Stock market’s year-to-date losses exceed 20 per cent, economic damage could widen AP Cairo FUELLED by fury over financial deprivation, the unrest roiling Egypt threatens to undermine the country’s economic growth and further weaken the government. The third straight day of protests sent theAP - 596 words
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Article, Illustration500 2011-01-29 19 AFP Shanghai CHINA’S long-awaited first property taxes took effect yesterday in Shanghai and the mega-city of Chongqing in the south-west, as the country tries to reform its booming real estate market. People buying higher-end second homes in Shanghai, China’s wealthiest city, and Chongqing,AFP; BLOOMBERG - 500 words
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731 2011-01-29 20 MSCI’s developed market stock index up 3.2%, emerging market index is negative Reuters London A MONTH into 2011, one of the biggest swings in asset flows has been the outperformance of previously lagging developed market equities against once red-hot emerging ones. The chancesReuters - 731 words
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Article, Illustration360 2011-01-29 20 Reuters Madrid SPAIN’S jobless rate rose to 20.3 per cent in the last quarter of 2010, the highest since mid-1997 and over double the European Union average, highlighting the gulf in economic performance within the region and suggesting that Spain mayReuters; REUTERS - 360 words
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339 2011-01-29 20 AP Xinhua Dublin IRELAND’S Lower House of Parliament passed a deficit-slashing budget designed to comply with a massive international bailout’s requirements, in a victory for the embattled minority government. The bill passed the Dail 81-to-76 Thursday and goes to the UpperAP; Xinhua - 339 words
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616 2011-01-29 21 Economists raise forecasts for 2011 due to extension of Bush-era tax cuts and renewal of emergency jobless benefits latest us data Bloomberg Washington THE US economy accelerated in the fourth quarter of 2010, driven by the biggest gain in consumer spending in moreBloomberg - 616 words
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Article, Illustration462 2011-01-29 21 Expansion in US economy is still too weak to offer that world economic forum Bloomberg Davos TREASURY Secretary Timothy F Geithner said the US economic expansion is still too weak to slash unemployment or a budget deficit headed for US$1.5 trillion. “There’s much moreBloomberg - 462 words
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375 2011-01-29 21 AP Davos THE world’s current economic model is an environmental “global suicide pact” that will result in disaster if it isn’t reformed, United Nations chief Ban Ki-moon warned yesterday. Mr Ban said that political and business leaders need to embrace economic innovationAP - 375 words
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483 2011-01-29 22 Some US$900m pulled out as rates are hiked to counter inflation Reuters Mumbai SOARING inflation and rate rises are starting to hit corporate margins in India, tempting more foreign fund managers to slash holdings in favour of markets that can better capitaliseReuters - 483 words
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253 2011-01-29 22 Company’s tussle with Delhi puts future in doubt Bloomberg Mumbai RESEARCH In Motion Ltd’sstruggle withtheIndian government over securi-ty-agency access to the BlackBerry smartphone service has made corporate customers “nervous”. The company cannot provide access to the messaging traffic of its corporate customers because it is notBloomberg - 253 words
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Article, Illustration354 2011-01-29 22 AP Jakarta TWO Indonesian passenger trains collided and a crowded ferry burst into flames yesterday, killing 16 people and sending hundreds to the hospital, many in critical condition, officials said. The accidents occurred 30 minutes apart on the main island ofAP; REUTERS - 354 words
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Page 22 Advertisements
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Advertisement15 2011-01-29 22 em ♦i behind husband-and-wife online business dangdang.com To subscribe, call 6388-3838 or go to sphsubscription.com.sg15 words
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SGX
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Article10877 2011-01-29 26 Transaction date: Jan 28 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 14.5 3148 8Telecom 19 unch 362 19 19 19 19.5 1.7 9.5 6.1 91 12 4.5 5834 A-Sonic10,877 words
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Article186 2011-01-29 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 8 3 0 0 0 5 8 3 Manufacturing 46 65 65 7 4 15 53 69 80 Commerce 15 23 24 1 4 8 16 27 32 Tpt/Stor/Comms 11 18 13186 words
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Article839 2011-01-29 26 For week beginning Jan 24 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Harry's Hldgs Ltd 26-Jan-11 Sanjay Naraindas K PL ***** 0.22 0 0.00 ***** 10.35 IDT Hldgs (Spore)839 words
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Article121 2011-01-29 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 27,276 27,276 88,968 88,968 Manufacturing 337,838 19,345 357,183 200,769 1,243 202,012 Commerce 100,022 10,625 110,647 100,683 1,085 101,768 Tpt/Stor/Comms 99,605 654 100,259 154,727 187 154,914 Finance 22,515 22,515 173,937 173,937 Construction 55,546 5,361 60,907 6,360121 words
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MARKETS
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Article118 2011-01-29 27 Jan 28 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.308 1.234 Can dollar 1.309 1.259 Euro 1.789 1.721 Sterling pound 2.073 1.994 NZ dollar 1.014 0.966 US dollar 1.298 1.249 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article, Illustration90 2011-01-29 27 YTD change: +1.24% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg YTD change: +2.53% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,971.50 on May 27,2010 Source: Bloomberg YTD change: +3.56% 52-week high: 12,020.50 on Jan 26,2011 52-week low: 9,614.32 on JulySource: Bloomberg - 90 words
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374 2011-01-29 27 In local curr In S$ In US$ dy yr dy yr dy yr Jan 27 Index Change Change Change Change Change Change World Index Preliminary 923.5 0.1 10.9 0.0 2.8 0.1 12.9 ‡EAFE Preliminary 825.3 0.3 5.2 0.2 -1.1 0.3 8.5 Europe Preliminary 1205.7 0.2374 words
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Article154 2011-01-29 27 Jan 28 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2678 1.2691 0.9894 0.9900 Canadian dollar 1.2853 1.2864 1.0030 1.0035 Euro 1.7541 1.7552 1.3689 1.3692 NZ dollar 0.9882 0.9892 0.7712 0.7717 Sterling pound 2.0324 2.0339 1.5861 1.5866154 words
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Article82 2011-01-29 27 Jan 27 COCOA (£/tonne) Close Prev High/Low Mar 11 2200 2214 2249/2195 May 11 2180 2179 2219/2166 Jul 11 2170 2179 2204/2155 Sep 11 2160 2167 2190/2152 COFFEE (US$/tonne) Close Pev High/Low Jan 11 2061 2093 2090/2060 Mar 11 2090 2096 2106/2068 Jul 05 2118 2124 2132/2095 Jul 1182 words
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Article93 2011-01-29 27 Jan 27 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 11 1399.*****5.*****1.*****8.00 May 11 1410.*****6.*****0.*****9.50 Jul 11 1415.*****3.*****6.*****5.75 Aug 11 1391.*****1.*****0.*****7.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Mar 11 57.41 56.70 57.45 56.33 May 11 57.90 57.20 57.82 56.83 Jul 11 58.32 57.64 58.2593 words
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Article67 2011-01-29 27 Jan 28 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 11 3743 3766 3773 3740 1214 4979 Mar 11 3745 3743 3756 3730 1644 ***** Apr 11 3695 3700 3716 3675 ***** ***** May 11 3624 365167 words
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Article75 2011-01-29 27 Jan 27 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 97.64 0.65 WTI (Near Mth) 85.60 -1.88 Dubai (1-Mth F) 92.95 0.91 Tapis blend 101.55 1.15 Minas 97.55 1.15 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 94.28 1.45 Jet Kerosene 111.62 1.46 US$/barrel Opec Oil Basket Price75 words
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Article66 2011-01-29 27 Jan 28 GOLD (US$/oz) Jan 27 Jan 28 Hong Kong 1340.*****7.00 Jan 26 Jan 27 London 1326.*****7.40 1326.*****8.20 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 34.54 34.32 Source: UOB PLATINUM Lon (US$/oz) Jan 27 Close Previous PM Fix 1807.*****0.00 AM Fix 1803.*****7.00 Source: Thomson Reuters PLATINUM /NYMEX66 words
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Article72 2011-01-29 27 Jan 27 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2408.75 2362.25 3 months 2427.00 2387.00 Copper, Grade A (US$/tonne) Cash 9451.50 9338.50 3 months 9441.00 9330.00 Lead (US$/tonne) Cash 2479.00 2419.00 3 months 2420.00 2376.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)72 words
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PERSPECTIVE
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Article, Illustration748 2011-01-29 28 / 29 Iris W Hung - Stimulating consumers to imagine themselves using a product can be a powerful persuasive tool in marketing. By Iris W Hung ~The writer is Assistant Professor in the Department of Marketing, NUS Business School. She specialises in marketing communications. This research project was collaborated with Robert S Wyer,BLOOMBERG FILE PHOTO - 748 words
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Article, Illustration803 2011-01-29 28 / 29 Robert Samuelson - Robert Samuelson The Washington Post Writers Group BYallappearances,last week’svisit ofChinese President Hu Jintao to Washington changed little in the lopsided Ameri-can-Chinese relationship. What we have is a system that methodically transfers American jobs, technology and financial power to China in return for onlyThe Washington Post Writers Group - 803 words
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Wealth
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WEALTH INVESTING
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Article, Illustration972 2011-01-29 30 / 31 Genevieve Cua - A stabilising global economy coupled with a recovery in risk appetite appear to have put gold in the shade this year alone it has fallen some 7 per cent. By Genevieve Cua THE world’s largest gold exchange traded fund the SPDR Gold Trust,BLOOMBERG; Source: Bloomberg; Source: Bloomberg, Global Insight and World Gold Council calculations - 972 words
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BROKERS' TAKE
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Article254 2011-01-29 30 / 31 CIMB Research Jan 28 THE Singapore market has held up well amid recent selldowns in Indonesia, the Philippines and Thailand. YTD, the Straits Times Index (STI) is up 1.1 per cent while Indonesia, the Philippines and Thailand are down 5.1 per cent, 5 per cent and 4.7 per254 words
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Article262 2011-01-29 30 / 31 Conrad Tan - Compiled by Conrad Tan Buy DMG Partners Research Jan 28 Close: $0.29 INITIATE with “buy” and TP of $0.39, based on 7x prospective earnings. Newly listed Consciencefood is one of Indonesia’s largest manufacturer and retailer of instant noodles, commanding more than 50 per cent market share in north262 words
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Article135 2011-01-29 30 / 31 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first,135 words
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Article, Illustration913 2011-01-29 32 Edmund Teo - Just like selecting a winning team, investors should understand the style of different managers in their portfolio 32 Edmund Teo ~The writer is regional director, investment solutions, Asean, Hong Kong, Taiwan, India at Russell Investments AS INVESTORS, we are oftenREUTERS - 913 words
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Article, Illustration1232 2011-01-29 33 Teh Hooi Ling - Between 2000 and 2010, M2 money supply grew 135%, or 8.9% a year in the past 10 years, to $401.4 billion show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder IT all started with a friend’s Facebook statusFILE PHOTO; Source: Compiled by BT with data from Dept of Stats, URA, Bloomberg - 1,232 words
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WEALTH REAL ESTATE
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1134 2011-01-29 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 7 NON-LANDED Textile Cte Apt 04/01/2011 99 904 720 796 District 9 NON-LANDED Grange Ht Apt 03/01/2011 FH1,134 words
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Article, Illustration585 2011-01-29 35 Kalpana Rashiwala - It wraps up the total for 2010 to 1.65m sq ft, a sharp reversal of negative demand of about 236,806 sq ft in 2009 By Kalpana Rashiwala kalpana@sph.com.sg Singapore NET new office demand surged to 753,473 square feet in the fourth quarterFILE PHOTO - 585 words
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Page 36 Advertisements
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Advertisement34 2011-01-29 36 M AUDEMARS PIGUET le maitre de I'horlogerie depuis 1875 1 m v w < v >0 i f; >• s. 3 tCs/u > mm T' r i JULES AUDEMARS EXTRA-THIN For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com34 words
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Page 1 Advertisements
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Advertisement53 2011-01-29 1 DINING Festive feast L6-7 LivingTHEBUSINESSTIMESWEEKEND|JANUARY29-*****1BTTHE BUSINESS TIMES WEEKEND JANUARY 29-30 2011 GETTING FRESH New F&B concepts in town STYLE All in the family L13 DINING/SHOPPING Yusheng platters L8-9 GADGETS Compact cameras L14-15 IL CIELO’S LOBSTER CARPACCIO WITH CAVIAR. PHOTO: YEN MENG JIIN NO HOLDS BARRED Referee Sian Massey L16 MOTORING53 words
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Living
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DINING
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Article, Illustration2455 2011-01-29 2 / 3 Geoffrey Ee - Competition among F&B outlets in town is heating up with operators wooing customers with new concepts.By concepts.By Geoffrey Ee btnews@sph.com.sg IT’S a jungle a crowded and lucrative one out there, and operators in Singapore’s highly competitive F&B environment are getting the message that having a superior product isPHOTOS: YEN MENG JIIN; PHOTOS: GUY SAVOY AT MARINA BAY SANDS, LEVEL33; TABERNA WINE BAR - 2,455 words
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Article, Illustration1654 2011-01-29 6 / 7 Jaime Ee - feastOptions abound for those planning a reunion dinner at home but who don’t want to cook. By Jaime Ee jaime@sph.com.sg SO YOU’VE decided not to challenge the crowds in town or suffer the culinary ignominy of an assembly line reunion dinner. Even so, planning your own reunion meal1,654 words
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DINING/SHOPPING
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Article, Illustration263 2011-01-29 8 / 9 Jaime Ee - If you’re still tossing your yusheng in the disposable container it comes in, now’s the time to look for something a little more appropriate. By Jaime Ee jaime@sph.com.sg Make mine melamine Round coupe melamine plate, Autumn Grass series (left). Available in 40.5cm and 45cm diameter. Price: $15.80 andPHOTOS OF GLASS PLATE FROM LINK AND LACQUERWARE FROM TAKASHIMAYA: ARTHUR LEE - 263 words
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Article, Illustration940 2011-01-29 8 / 9 Cheah Ui-Hoon - For the Chinese, festive food items with auspicious-sounding names help ring in the Lunar New Year with an abundance of luck. By Cheah Ui-Hoon uihoon@sph.com.sg Han Tan Juan will be giving a talk on Chinese New Year customs at the library@esplanade on Feb 12 at 2pm. The940 words
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TRAVEL
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Article, Illustration1010 2011-01-29 10 / 11 Tucked in a cosmopolitan Western city, San Francisco’s Chinatown continues to thrive with its oriental charm AP SMACK in the middle of San Francisco’s Chinatown, Portsmouth Square is a kaleidoscope of sounds, smells and colours. The cadence of Chinese dialects fills the air and splashes ofAP; PHOTOS: AP, STOCK.XCHNG - 1,010 words
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SHOPPING
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Article, Illustration769 2011-01-29 12 Corinne Kerk - Miuccia Prada has her eyes firmly fixed on the billion-dollar bounty in luxury wear in China with her star-studded Beijing premiere. By Corinne Kerk btnews@sph.com.sg It is minus 11 deg C in Beijing, but at the Central Academy of Fine Arts Museum, a warm welcome has beenPHOTOS: PRADA, AFP - 769 words
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STYLE
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Article, Illustration1091 2011-01-29 13 Melissa Lwee - Keeping a business in the family isn’t always the easiest thing butMelissa Lweespeaks to two third-generation players who are successfully keeping the family legacy alive. Melissa Lwee mellwee@sph.com.sg Jean Cassegrain Managing director of Longchamp FEW people know this but as early as 1954, Longchamp already had1,091 words
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GADGETS
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Article, Illustration1217 2011-01-29 14/15 Christopher Lim - You don’t need an SLR camera to take great photos. Christopher Lim takes a look at the best mirrorless and compact models Christopher Lim limchris@sph.com.sg DECIDING that you don’t need a full-fea-tured SLR camera is only half the shopping decision. You still need to choose between compact1,217 words
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SPORT
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Article, Illustration599 2011-01-29 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor JUST a week ago, Sian Massey was just another aspiring referee trying to earn her stripes in the top tier of English football. But in the last few days alone, her name has been mentionedAP - 599 words
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530 2011-01-29 16 Lee U-Wen - kick off with Lee U-Wen THE Young Lions must feel like a million bucks thesedays.That’sexactlyhowmuchwillbeinjected into their coffers over the next two years after regional retailing giant Courts announced on Thursday a generous sponsorship of the team that represents the future530 words
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GOLF
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Article, Illustration1243 2011-01-29 17 Justine Moss - More well-known players are getting disqualified due to calls made by television viewers. By Justine Moss btnews@sph.com.sg WHEN Camilo Villegas swatted some loose blades of grass out of the way as his ball was still in motion on Hole 15 at the US PGAREUTERS - 1,243 words
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MOTORING
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Article, Illustration305 2011-01-29 18 Samuel Ee - The new FF is a revolutionary four-seater, four-wheel-drive V12 Ferrari that will arrive here later this year. By Samuel Ee samuelee@sph.com.sg FOR the first time ever, a Ferrari road car will have all-wheel-drive. The new FF is a revolutionary fourseater, four-wheel-drive V12 Ferrari that will debut at305 words
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Article, Illustration438 2011-01-29 18 Samuel Ee - The Kia Soul is a playful combination of funky looks and sharp handling By Samuel Ee samuelee@sph.com.sg THE Kia Soul now has sharper handling to match its funky looks. The trendy five-door hatchback from the popular Korean make has been given a suspension upgrade with Sachs gas438 words
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Article, Illustration689 2011-01-29 19 Samuel Ee - The Honda Insight will tell you how efficiently you’re driving and rate you accordingly. AS WITH MOST HONDAS, IT IS THE WAY THE FRONT-WHEEL-DRIVEN INSIGHT HANDLES THAT SHOULD BE ITS MOST SATISFYING QUALITY. By Samuel Ee samuelee@sph.com.sg PLAY a video game well and you get a high score689 words
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Article, Illustration489 2011-01-29 20 Samuel Ee - Audi Q5 hybrid quattro scores on lower fuel consumption, but does not fall short on performance. By Samuel Ee samuelee@sph.com.sg MENTION “petrol-electric hybrid” and the message of lower fuel consumption is immediately conveyed. The Audi Q5 hybrid quattro is no different, but in this case, there is also489 words
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Page 4 / 5 Advertisements
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Advertisement769 2011-01-29 4 / 5 wine&dine with BTWeekend Chatterbox Level 5, Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 Home to the signature Mandarin Chicken Rice, Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Most recently, Chatterbox opened its new premises on Level 5 of the hotel with a769 words
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