The Business Times, 9 May 2011

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SjSl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Monday, May 9,2011
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  • 1205 1  -  PAP leaders say clamour for alternative voices is strong, landscape has changed By TEH SHI NING, JAMIE LEE [SINGAPORE] The numbers may hint at only a mild setback for the ruling party which was returned to power, but Singaporeans awoke yesterday to a
    YEN MENG JIIN  -  1,205 words
  • 698 1  -  Property stocks may be affected, say analysts By UMA SHANKARI THE Singapore stock market could see some negative impact from a more “pro-worker” stance which analysts expect the government to adopt, following the ruling People’s Action Party’s share of the popular vote falling
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  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST INDEX 3,099.52 -80.34 KL COMP 1,515.50 -19.45 NIKKEI 225 9,859.20 +9.46 HANG SENG 23,159.14 -561.67 SET INDEX 1,050.85 -42.71 JAKARTA COMP 3,798.55 -21.07
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  • Page 1 Advertisements
    • 175 1 DINING OUT A new Italian at Goodwood Park PAGE 22 BizIT Foiling the efforts of hackers PAGE 30 VIEWS FROM THE TOP Changing role of the CFO PAGES 12 13 IWC Pilot. Engineered for Aviators. Big Pilot's Watch. Ref. 5004: So, an ace has more staying power and knows when
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    • 15 1 HOCK LOCK SIEW Downside of a PCCW trust listing here PAGE 4 8 '*****1 *****4
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  • TOP STORIES
    • 565 2 Market may react negatively to GE results THE Singapore stock market could see some negative impact from a more “pro-worker” stance which analysts expect the government to adopt, following the ruling People’s Action Party’s share of the popular vote falling to a historic low of 60.1 per cent.
      565 words
    • 445 2 National Solidarity Party candidate Nicole Seah wrote an open letter after the results were announced. The letter is reproduced below MY friends, my fellow Singaporeans, We may have lost an election but tonight we have rediscovered something so much more valuable the pride
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    • 577 2  -  He also has doubts over true intentions of Worker’s Party By LEE U-WEN [SINGAPORE] Minister Mentor Lee Kuan Yew has once again said that Singapore cannot be run on “autopilot” and that there must be good leaders on board to steer the
      LIM SIN THAI /THE STRAITS TIMES  -  577 words
    • 437 2  -  By CHUANG PECK MING [SINGAPORE] Economic growth and ensuring that everyone gets to share its fruits will stay fundamental in the agenda of the People’s Action Party (PAP) as it sets up the next government. “I don’t think that will change,” Prime Minister
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    • 933 2  -  Loss of Aljunied highlights the risk of losing a whole team in one go COMMENTARY WONG WEI KONG Associate News Editor [SINGAPORE] TPrtttHE capture of Aljunied by the Workers’ Party (WP) from the ruling People’s Action Party (PAP) the first ever win by the Opposition
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    • 889 3  -  Workers’ Party contests see lowest percentage of spoilt votes By ANNA TEO [SINGAPORE] The Potong Pasir contest in the 2011 general election stands out for not only its razor-thin majority it’s also the one race where the rejected votes could have
      889 words
    • 510 3  -  By UMA SHANKARI [SINGAPORE] Foreign Affairs Minister George Yeo’s loss in the General Election saddened, disappointed and surprised leaders attending the Asean summit in Jakarta, Senior Minister S Jayakumar said yesterday. “Why were they saddened? Because to them George Yeo has been a very articulate
      MUGILAN RAJASEGERAN/THE STRAITS TIMES  -  510 words

  • Page 3 Advertisements
    • 134 3 SINGAPORE INTERNATIONAL RACING FESTIVAL www.siacup.com.sg T ir B FJIIR* 5i i V if EXCIliT SPECIAL PARTY THE LAWN PACKAGES at 150* per pax Zoom in on the excitement in Asia Pacific's most prestigious races, Get closer to the electrifying action of the Singapore Airlines International Cup and the KrisFlyer International
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  • COMPANY NEWS
    • 640 4  -  HOCK LOCK SIEW By LYNN KAN PLANS by Hong Kong’s PCCW to spin off and list its telecoms assets there have been effectively stonewalled. Last Wednesday, Hong Kong regulators firmly said “no” to the fixed-line and broadband service operator’s plan to list a
      BLOOMBERG  -  640 words
    • 13 4 I db X-MACRO Trading Index Fund I I4D 28/04/11 100,54 GBP
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    • 3 4
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    • 624 7  -  Bank reviewing possible fallout from nuclear crisis worldwide following scare at backup site in Japan By MINDY TAN MANY business continuity plans are likely to be reviewed in the wake of the earthquake and tsunami in Japan and the resulting nuclear crisis. In
      624 words
    • 403 7 May 6 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 253 7 COMPANY MEETING PLACE DATE TIME Lung Kee A Gloucester Room, 2nd Floor, Mandarin Oriental Hotel, 5 Connaught Road Central, Hong Kong 09-May 3.00pm Junma Tyre A E 47 Hill Street #02-00, 10.00am Singapore *****5 12-May 11.00am Hoe Leong Corp E 6 Clementi Loop, Singapore *****4 13-May 10.00am Overseas
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  • Page 4 Advertisements
    • 223 4 ASIA PACIFIC LAW, ACCOUNTING TAX FORUM 2011 Financial Accounting Tax Updates in Malaysia Interpretation Application of Double Taxation Agreements Doing Business in Indonesia Strategies Practical Considerations Understanding Applying Commercial Laws in China Financial Accounting Tax Updates in Thailand Financial Accounting Corporate Taxation in Indonesia Comparison Between IFRS Chinese GAAP China
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    • 22 4 Choose from Prime Stock Call 1800 289 8822 I or e-mail notices@sph.com.sg to place your Tenders Auctions Notices j MATS i NOTICES
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    • 445 4 NANYANG TECHNOLOGICAL UNIVERSITY Nanyang Business School EXECUTIVE MBA f Global Leadership for the Asian Century yu i w M 9 Vl The knowledge and experience takeaways are the big pluses. The programme is concise and compact, encouraging us to perform in a more challenging environment. Definitely a good reality check
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  • Page 5 Advertisements
    • 132 5 Windows®. Life without Walls™. SAMSUNG recommends Windows 7. Amazinglff Light, Incredibly Strong ow that's what w" call perfect balance. nte I /inside Visibly Smart n w Samsung Notebook SERIES 91 Weighing a mere 1.31kg, the new Samsung Series 9 Notebook is amazingly light. It is also astoundingly slim at just
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  • SINGAPORE MARKETS
    • 466 6 CURRENCIES Bloomberg [SINGAPORE] Asian currencies had their worst week in four months, led by a slide in Malaysia’s ringgit, as data suggesting that the US recovery is faltering dimmed the outlook for exports and curbed demand for riskier assets.
      Bloomberg  -  466 words
    • 598 6  -  COMMODITIES By TIMOTHY MORGE Timothy Morge is a CME member and independent trader. He actively trades CME Group products and teaches his trading at www.marketgeometry.com. Visit http://www. cmegroup. com/ to find out more about CME products. IF it comes out of the ground and
      598 words
    • 1693 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Prop Ltd 2.73 2.73 11 15.36 7.16 1.33 1.11 Amtek Engg Ltd 1.75 1.75 4 13.81 8.55 1.61 1.18 ARA Asset Mgt Ltd 1.75 1.75 4
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    • 639 6  -  STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index last week dropped about 80 points or 2.5 per cent mainly because the external environment wasn’t conducive to stocks, and also partly because of caution ahead of the weekend’s general election (GE). So
      639 words
    • 159 8 MAY 6 BID PRICE VALUE WEEK-ON-WEEK CHANGE Kingboard Copper Foil 0.375 4.2 9,375 ASL Marine 0.615 0.0 5,535 China Sports 0.085 0.0 2,465 China Taisan 0.155 0.0 6,200 Li Heng 0.170 0.0 3,400 Longcheer 0.260 0.0 4,940 Low Keng Huat 0.460 -1.1 15,180 Ho Bee 1.460 -1.4
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    • 153 8 MAY 6 BID PRICE VALUE WEEK-ON-WEEK CHANGE Sinostar 0.165 3.1 10,230 Advance SCT 0.040 0.0 3,320 Annica 0.030 0.0 4,980 Bio-Treat Tech 0.040 0.0 4,000 C&G Industrial 0.150 0.0 11,400 China Auto Electronics 0.115 0.0 11,500 China Oilfield Tech 0.065 0.0 4,615 China Titanium 0.005 0.0 625
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    • 406 8  -  TEH HOOI LING Senior Correspondent CONCERNS about the health of the global economy weighed down the market last week. On average, our portfolios slumped by 2.8 per cent last week. This compared with the 2.5 per cent decline in the Straits Times Index. The one-year
      406 words
    • 168 8 MAY 6 BID PRICE VALUE WEEK-ON-WEEK CHANGE Cacola Furniture 0.050 11.1 2,600 China Kangda Food 0.100 5.3 2,600 CSE Global 1.190 2.6 8,330 Biosensors 1.370 2.2 27,400 AIMS AMP I REIT 0.205 0.0 3,075 ASL Marine 0.615 0.0 5,535 First Resources 1.370 0.0 26,030 Goodpack 1.970 0.0
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    • 170 8 MAY 6 BID PRICE VALUE WEEK-ON-WEEK CHANGE Kingboard Copper Foil 0.375 4.2 9,375 Fortune Reit 0.611 0.2 7,943 Anwell Tech 0.240 0.0 3,984 Tuan Sing 0.375 0.0 19,500 United Fiber System 0.045 0.0 4,050 Singapore Land 7.090 -0.6 14,180 Guocoleisure 0.725 -0.7 7,250 Bonvests 1.010 -1.0 9,090
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    • 151 8 sentiment VALUE MAY 6 BID PRICE WEEK-ON-WEEK CHANGE CH Offshore 0.465 4.5 7,905 Kingboard Copper Foil 0.375 4.2 9,375 Dairy Farm 10.957 3.3 10,957 China XLX 0.440 2.3 7,480 Parkway Life Reit 1.740 1.2 8,700 China Taisan 0.155 0.0 6,200 Goodpack 1.970 0.0 7,880 Longcheer
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    • 170 8 MAY 6 BID PRICE VALUE WEEK-ON-WEEK CHANGE CDL Hospitality Trust 2.040 1.5 14,280 K1 Ventures 0.150 0.0 3,600 Longcheer 0.260 0.0 4,940 Shanghai Asia 0.180 0.0 6,840 Singapore Shipping Corp 0.225 0.0 4,725 TT Int'l 0.035 0.0 1,575 Elec Eltek Int'l 4.069 0.0 12,207 Stamford Land 0.610
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    • 1718 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE buying among directors was low for the third straight week with only eight companies that recorded 16 purchases worth $1.01 million based on filings on the Singapore
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  • Page 6 Advertisements
    • 139 6 HPT Phillip Futures Bringing Global Markets Closer to You www.phillipfutures.com.sg 6538 0500 CM Brought to you by Phillip Futures Pte Ltd (A member of PhillipCapital) M 1 > Co. Reg. No: *****5695G The above information does not constitute an investment advice, an offer/solicitation to buy/sell the above mentioned investment product(s).
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  • Page 7 Advertisements
    • 104 7 LUXURY TOURS TRAVEL PTE LTD a The Leading Operator i'A Established 1985 > > Y^M "Fullfilling your requirments with finesse" Our experienced team of planners takes charge right from the start. We offer you the best venues available, suggestions settings. These include transportation, meals, sightseeing tours tourist guides. Our services
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    • 111 7 Finance new opportunities That’s what commercial lenders can do when they’re smart about managing risk. And smart lenders can seed innovative new businesses by working with CME Group, the world’s leading derivatives marketplace. Emerging growth companies and financial institutions around the world come to us to manage virtually every kind
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  • ACCOUNTANTS FOR BUSINESS
    • 1708 9  -  Global demand for accounting talent is increasing as firms hire them to fill leadership positions, reports MICHELLE QUAH reports MICHELLE QUAH SINGAPORE’S dream to transform itself into a leading accountancy hub for the region by 2020 depends significantly on its efforts to raise the standards of
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  • Page 9 Advertisements
    • 97 9 ACCA Singapore Annual Conference Going Regional Challenges Opportunities for the Accounting Profession ACCA The demand for accounting and finance professionals with specialised skills and mastery of regional business practices and technical standards is rising locally and across the region. To stay relevant and understand the issues affecting you, come join
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  • SINGAPORE NEWS
    • 2845 10 Payment Ex Books Pay Ann (cts) date close date date 8Telecom Intl bn 0.615 03-May 05-May 24-May 08-Apr ABR Hldgs ak 1.000 10-May 12-May 27-May 13-Apr Action Asia ak 1.000 06-May 10-May 20-May 25-Feb Adampak Ltd ak 2.000 09-May 11-May 26-May 02-Mar Adv Integrated Mft an 0.330 20-May
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    • 477 10  -  It aims to double revenue over 5 years through acquisitions and organic growth By LYNN KAN JEBSEN and Jessen, one of South-east Asia’s old, established family-owned businesses, may have gotten older and bigger over the generations but creaky and clunky it is not. The
      477 words
    • 240 10 ABOUT 100 young budding artists yesterday learnt a thing or two about struggling for their craft from local comedian Hossan Leong and the late French singer, Edith Piaf. BNP Paribas invited the children from the Little Arts Academy (LAA) and their
      MEL JOSEPH  -  240 words
  • Page 10 Advertisements
    • 1045 10 BEATS Q Toll free: 1800-289-8822 Email: notices@sph.com. NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) KASANKA PTE. LTD. (Company No. *****2314N) (2) TASCO PACIFIC INTERN ATIONAL PTE. LTD. (Company No. *****2319H) (3) FETEX PTE. LTD. (Company No. *****2348R) (4) SALCIDO PTE. LTD.
      1,045 words
    • 24 10 How to run a business without running out of ideas SME May/June 2011 Outnowwithabrandnewlook! +8/9>/"->4/<#0/5%624=2>?-2-9! +;<00-!!=!656>>-#/$!-7$’0/2$=.-20-62.!>#6>-"4 +8/9>/3#-6:=2>/>?-,->?-#762.! +1?-29/#:=!$<2$/#!>6$$(>?62:!>/>?-*&) +*?-0:/<>65/3=7-%?/2->?6>7->!06#.=/7/"=!>!5/2=>/#>?-=#%6>=-2>! AvailableatCaltex,Esso,ShellandSPCpetrolstations, 7ElevenandCheersstoresandleadingbookstores Tosubscribe($30forsixissuesdeliveredtoyourofficeorhome),pleasecall6388-3838. GetacomplimentarycopyifyouareaTNTclient,whilestockslast! Producedby
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 982 11  -  MINDY TAN elaborates on these two camps which represent very diverse investment strategies MINDY TAN IF you ever take a walk down Wall Street and encounter a heated argument with terms like “tea leaf reading”or “voodoo” being thrown around, take heart. The witch hunt has not left
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    • 1058 11  -  MINDY TAN asks former engineer Park Kwan Hoon what sparked off the pursuit of his dream STARTING YOUNG MINDY TAN PARK Kwan Hoon’s amiable and laid-back manner belies the grand ambition that he harbours. It is his dream to run a fund with
      1,058 words
    • 339 11 ASK DR INVEST Q: I have a small portfolio of unit trusts and I am exploring to invest in other instruments. I have seen advertisements on Contracts For Differences (CFDs). What is it and how does it work? Is it suitable for new investors? A:
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  • Page 11 Advertisements
    • 347 11 Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to start investing, feature
      347 words

  • VIEWS FROM THE TOP
    • 3408 12 THIS WEEK’S TOPIC: How has the role of the CFO (or equivalent senior financial professional) changed in your organisation/industry? From your perspective as a CEO, to what extent should CFOs be involved in strategic business planning and other business responsibilities? Steve Watts President SAP Asia-Pacific
      STOCKXCHNG  -  3,408 words

  • Page 13 Advertisements
    • 60 13 n Exclusively At SINGAPORE PARAGON T: (65) 6333 6663 KUALA LUMPUR STARHILL GALLERY T: (603)2141 3131 JAKARTA GALLERIA GRAND HYATT T: (622 1 3983 88 1 O BANGKOK SIAM PARAGON T: (662) 61 O 9883 WWW.YAFRlRO.COM PARMIGIANI HERITAGE IN THE MAKING THE KALPAGRAPH COLLECTION Entirely manufactured in Les Ateliers Parmigiani
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  • ECONOMY WATCH
    • 557 14 Deficit in govt’s finances will widen before surplus is reached in 2012-13 Bloomberg [CANBERRA] Australian Treasurer Wayne Swan said there will be “substantial” savings in the coming Budget after revenue was crimped by a record exchange rate, the nation’s costliest natural disasters and Japan’s
      Bloomberg  -  557 words
    • 544 14 Increase in savings seen suppressing borrowing growth Bloomberg [MELBOURNE] Australia New Zealand Banking Group Ltd, the worst performer among Australia’s four largest banking stocks this year, predicts credit growth won’t return to the pace seen before the global financial crisis. Businesses
      Bloomberg; REUTERS  -  544 words
    • 304 14 Reuters [SEOUL] At least one out of 10 urban South Korean households experienced overdue debt interest payments in the past half year, the central bank survey said yesterday as the country grapples with heavy household debt. The Bank of Korea said in
      Reuters  -  304 words
    • 503 14 Reuters [TOKYO] The Bank of Japan (BOJ) plans to bolster its capital to provision against potential losses from an asset-buying scheme, a source familiar with the central bank’s thinking said, in a move that would give it room to further ease monetary policy if needed
      Reuters  -  503 words
    • 334 14 AFP [LISBON] An European Union (EU) and International Monetary Fund (IMF) rescue deal struck with Portugal seems to have corrected mistakes made in the Greek and Irish bailouts, with more realistic targets and less stifling austerity demands, analysts say. “The package of measures seems
      AFP  -  334 words
  • Page 14 Advertisements
    • 230 14 HOSPITAL BUILD ASIA 2011 EXHIBITION CONGRESS ASIA'S LARGEST BUSINESS-TO-BUSINESS HOSPITAL INFRASTRUCTURE EVENT 10 -12 May 2011 10:00AM 6:30PM Hall A, Level 1, Sands Expo Convention Center Marina Bay Sands Singapore to ASIA'S HEALTHCARE CLIMATE IS UNDERGOING RAPID CHANGES WITH NEW BREAKTHROUGHS IN HEALTHCARE TECHNOLOGY AND NEW SYSTEMS IN HOSPITAL MANAGEMENT.
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  • MALAYSIA
    • 796 15  -  Politically, the Barisan Nasional government also badly wants to win back the country’s most wealthy state MALAYSIA INSIGHT PAULINE NG KL Correspondent KLANG Valley residents might soon have more housing options those of the affordable kind. More precisely, those priced below RM220,000, or just over
      796 words
    • 1918 15 VOL May 6 RM +/-(‘000) A M Realty 0.48 unch 2 Abric Bhd 0.33 unch 0 Advance Synerg 0.23 unch 1936 Adventa Bhd 2.14 -0.04 127 Ae Multi Hldgs 0.30 unch 132 Affin Holdings 3.45 unch 86 Ahmad Zaki Res 0.87 0.01 51 Aic Corp 1.10 unch 0
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  • Page 15 Advertisements
    • 168 15 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices MATS NOTICES HEARTS ON FIRE' THE WORLD'S MOST PERFECTLY CUT DIAMOND® X-'Ck NEW! Transcend Round Solitaire ft. vr <V,\ y¥$L* s <K3 I SI®> THE PROMISE OF PERFECTION Exclusive Heart On Fire® Boutique at
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  • GREATER CHINA/INDIA
    • 516 16 It accounts for 1.4% of the country’s GDP, says WWF report AP [AMSTERDAM] Denmark earns the biggest share of its national revenue from producing windmills and other clean technologies, the United States is rapidly expanding its clean-tech sector, but no country can match China’s
      AP; REUTERS  -  516 words
    • 296 16 AFP [NEW DELHI] India plans to develop a network of strategic roads along its borders with China, a senior military official was quoted as saying in an Indian media report on Saturday. The planned road network in India’s remote northeast and the
      AFP  -  296 words
    • 477 16 AFP [WASHINGTON] The United States and China approach high-level talks in Washington this week on a more even footing, reflecting the Asian giant’s rising economic power, but a bumpy road lies ahead. At the annual US-China Strategic and Economic Dialogue
      AFP  -  477 words
    • 259 16 Xinhua [BEIJING] With the government’s ongoing and persistent efforts to cool the red-hot property market, Chinese developers are struggling to sell properties while becoming more encumbered with debt. The debt of the country’s developers rose 41.27 per cent year on year to 1.05 trillion
      Xinhua  -  259 words
  • Page 16 Advertisements
    • 1890 16 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg BUY IT SELL IT FIND IT FUJIAN ZHENYUN PLASTICS INDUSTRY CO., LTD (Incorporated in the People’s Republic of China) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Fujian Zhenyun Plastics Industry Co., Ltd. (the “Company”) will
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  • WORLD
    • 634 17 CEO says it’ll sell other assets to start reducing Treasury’s 92% holding Reuters [NEW YORK] Bailed-out insurer AIG wants to keep its one-third stake in Asian insurer AIA Group Ltd rather than sell it off starting later this year, chief executive Bob
      Reuters  -  634 words
    • 546 17 The govt may seek to influence bank’s structure, policies AP [DHAKA, Bangladesh] Nobel Peace Prize laureate Muhammad Yunus says he is worried about the future of the pioneering microlending bank he founded now that Bangladesh’s government has successfully ousted him as its head.
      AP  -  546 words
    • 405 17 AFP [LONDON] Indian-born steel tycoon Lakshmi Mittal saw about £5 billion (S$10.1 billion) wiped off his fortune in the past year but remains the wealthiest person in Britain, it was revealed Sunday. The fortune of the Lon-don-based head of ArcelorMittal, the world’s largest
      AFP  -  405 words
    • 662 17 AFP [MADRID] Spain’s economic downturn is sending jobless workers flocking back to school to learn other languages, mainly English, to boost their appeal to employers, providing a boon for language academies. With an unemployment rate of over 21 per cent, the highest in
      AFP  -  662 words
    • 553 17 AFP [FRANKFURT] German Chancellor Angela Merkel is playing her cards close to her chest on her pick for the next head of the European Central Bank, though frontrunner Mario Draghi is emerging as an acceptable choice for Berlin, analysts said. Ms Merkel
      AFP  -  553 words
    • 685 18 The fund will look at promising labels from China, India, and South-east Asia AFP [SINGAPORE] A US$650 million private equity fund backed by the world’s top luxury retailer LVMH is on the prowl for emerging Asian brands in the hope of transforming them into global
      AFP; FILE PHOTO  -  685 words
    • 595 18 Reuters [NEW YORK] Wall Street’s biggest banks are urging rule-makers to scrap a derivative accounting proposal that could inflate their balance sheets by trillions of dollars. The draft rules, unveiled by the Financial Accounting Standards Board (FASB) in January, would force banks to
      Reuters  -  595 words
    • 718 19 It is not enough to support asset gains and compensate for growing debt Bloomberg [NEW YORK] Bill Gross, who runs the world’s biggest mutual fund at Pacific Investment Management Co (Pimco), said that US growth isn’t sufficient to support asset and labour markets
      Bloomberg  -  718 words
    • 717 19  -  By NEIL BEHRMANN in London BRITISH political weather will be as variable as its climate in the coming year following the electorate’s resounding rejection of the Liberal Democrats. The result is that the Conservative-Liberal Democrat coalition government has been shaken.
      REUTERS  -  717 words
    • 386 19 AP [TOKYO] Japan will maintain atomic power as a major part of its energy policy despite the country’s ongoing nuclear crisis at tsunami-crippled Fukushima Daiichi power plant, a top official said yesterday. Deputy Chief Cabinet Secretary Yoshito Sengoku also said that the
      AP  -  386 words
    • 704 20  -  Headwinds seen hitting market at both fundamental and technical levels WALL STREET INSIGHT By STEPHEN RAPHAEL in New York WITH US economic data suddenly turning spotty, Europe’s sovereign debt woes making headlines again, the US dollar on the rise, and first-quarter earnings season
      AP  -  704 words
    • 573 20 Red Bull’s Mark Webber finishes 2nd, Alonso in 3rd AFP [ISTANBUL] Defending drivers world champion Sebastian Vettel consolidated his lead in this year’s title race with a near-flawless drive to victory for Red Bull in yesterday’s Turkish Grand Prix. The 23-year-old German led from
      AFP; AP  -  573 words
    • 538 20 AFP [ISTANBUL] Formula One (F1) supremo Bernie Ecclestone warned the teams yesterday that were they to be party to any takeover of the sport it would be the equivalent of committing “suicide”. The 80-year-old Briton who reconstructed F1 into the modern global
      AFP  -  538 words
    • 674 20  -  By ANTHONY ROWLEY in Hanoi OVERSHADOWED by headlines on inflation concerns, moves to have China’s yuan and perhaps other currencies included among those that make up the IMF special reserve currency known as the SDR went largely unnoticed at the Asian Development Bank
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  • Page 17 Advertisements
    • 152 17 AWARDS2011 Awarding the finest in ICT innovations www.sitfawards.com Be the Shining Stars Awarding the finest in ICT innovations SiTF Awards, an ICT industry driven awards, is now OPEN FOR NOMINATIONS. If you have excellent products/ applications/ solutions and/ or an excellent team in marketing/ customer relationship management/ technical support, please
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  • Page 19 Advertisements
    • 1812 19 MAT3 P Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES Courage Marine Group Limited 勇 (Incorporated in Bermuda) (Company Registration No. *****) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a SPECIAL GENERAL MEETING of Courage Marine Group Limited (the “Company”) will be held at 2.30 p.m. on 1 June
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  • SHIPPING/AVIATION
    • 659 21 AP [ABOARD CHARLES DE GAULLE] Despite growing controversy about the cost and relevance of aircraft carriers, navies around the world are adding new ones to their inventories at a pace unseen since World War II. The US with more carriers than all other
      AP  -  659 words
    • 278 21 SGX '000 May 6 S$ +/-Vol CH Offshore 0.47 0.03 163 Chuan Hup Hldg 0.23 0.01 342 Cosco Corp 2.19 -0.01 9468 CWT Ltd 1.27 -0.01 1212 Ezra Hldgs 1.57 -0.03 6765 First Ship Lea 0.38 -0.01 1491 Freight Links 0.06 unch 238 Grand Banks 0.53 0.03 222
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    • 296 21 AFP [NEW DELHI] Flag-carrier Air India’s flight operations were slowly returning to normal on the weekend after pilots ended a 10-day strike that cost the ailing airline millions of dollars in revenues. Close to 700 pilots work- ing for the domestic service
      AFP  -  296 words
    • 3252 21 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1300 SQ456 1245 EY473 1955 VA7473 1955 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 Amsterdam LO4031 0545 LO4032 2355 SQ323 0545 SQ324 2355 US5410 0545 US5411 2355 AZ3992 1525 KL835 1525 Athens
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    • 592 21 Philippine outfit believes success means sticking it out for long term AFP [MANILA] Violent protests in the Middle East may have shaken the world economy but Philippine port operator ICTSI sees opportunity amid the turmoil. ICTSI, run by billionaire Enrique Razon, is one of
      AFP  -  592 words
  • Page 21 Miscellaneous
    • 336 21 CRYPTIC CROSSWORD Across 1 Battle walker devised to get flan (8,4) 9 Distinctive garb shown by two educational bodies? (7) 10 Players keeping article introducing a card game (7) 11 Part of animal later in ground (7) 12 Reserve select item for very wintry weather? (3,4) 13 Bulge shown by
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  • DINING OUT
    • 789 22  -  By Geoffrey Eu NEW RESTAURANT Gaia 22 Scotts Road, Goodwood Park Hotel Tel: 6735-9937 www.gaia.sg RECENT culinary times have seen celebrity chefs and high-profile modern eateries featuring prominently in Singapore’s increasingly dynamic fine-dining scene, but newly-minted Italian restaurant Gaia has opted to take a
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  • Page 22 Advertisements
    • 183 22 Tuckinto THEGREAT CEO outkoocCHARITY Feast on great hawker fare prepared personally by S’pore’s top bosses Feel good because all proceeds go to charity When: Every Friday (7-9pm) Where: Food Republic Beer Garden at St James Power Station thenewpaper YOU MUST-HAVE ESOU CE BOOK! BRAND NEW ANNUAL MAGAZINE OUT NOW! 3/22/11
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    • 72 22 L ~t"*7 1 o I 7 s 1 I L 7 "~7 I 7 ~"7 CT 1/ T-l I J FIND THE ONES 1 1 ft THAT FIT! l Q Q U) Recruit the right people i through CATS Recruit. > T Call 1800 289 8822 or email 1 I
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  • SINGAPORE STOCKS
    • 8730 23 Week ended: May 6 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 8Telecom 15.5 -1.5 190 15.5 15.5 15.5 18 7.8 3.9 3.2 74.2 12 4.5 A-Sonic 7 -0.5 334 7
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    • 1690 24 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 6.5 4 t AA Grp 4 -0.5 28 4.5 4 4 4.5 19 3.9 202 145 t APStrategic 164 +4 1 164 164 155
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    • 116 24 Stock name Close Change CapMallsAsia 1.690 CapitaLand 3.280 CapitaMall 1.890 +0.010 CityDev 11.240 +0.240 ComfortDelGro 1.470 -0.010 DBS Grp 14.500 -0.120 F&N 6.190 -0.050 GLP 1.990 +0.010 Genting SP 2.100 -0.010 Golden Agri 0.655 +0.005 Stock name Close Change HK Land 7.350 -0.150 JMH 47.940 -0.160
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    • 2635 24 Transaction date: May 6 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.22 unch 0 Aeon Stores 16.10 unch 4 Angang Steel 9.46 -0.05 8791 Anhui Conch 32.95 unch ***** Anhuiexpresswa 6.45 -0.02 680 Asia Satellite 16.60 -0.08 15 Asm Pacific 107.20 -1.20 437 Bank Of E Asia 31.55
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    • 257 24 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 AVJennings A50.5 +1 18 50.5 47.5 48 52 3.6 6.9 4 131.5 55 16 Genting HK US$ US41.5 -0.5 ***** 43 40.5 41.5 42 2732.6
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    • 186 24 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 12 2 0 0 0 1 12 2 Manufacturing 42 128 40 9 12 14 51 140 54 Commerce 14 39 20 1 6 7 15 45 27 Tpt/Stor/Comms 8 30 8
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    • 927 24 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 111.5 -5.5 44 120 111.5 111.5 123 509 1077 761 CIMBAsean40 100US$ US1077 +8 2 1077 1067 1032 1039 43.1
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    • 123 24 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 212,634 212,634 516,581 516,581 Manufacturing 864,840 51,422 916,262 923,890 7,844 931,734 Commerce 400,294 29,437 429,731 514,785 6,392 521,177 Tpt/Stor/Comms 610,016 20,412 630,428 967,406 1,640 969,046 Finance 107,500 6 107,506 1,033,334 1 1,033,335 Construction 98,130 3,932
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  • Page 24 Advertisements
    • 26 24 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr May 6 Index Change Change Change Change Change Change World Index Preliminary 934.8 0.9 4.1 0.3 2.6 0.8 6.7 EAFE Preliminary 806.9 0.4 0.8 -0.4 1.9 0.0 5.9 Europe Preliminary 1204.4 1.0
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    • 121 25 May 06 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.358 1.282 Can dollar 1.305 1.255 Euro 1.835 1.765 Sterling pound 2.067 1.988 NZ dollar 1.002 0.955 US dollar 1.254 1.206 Local dollars to 100 units of foreign
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    • 29 25 May 6 Open High Sett STI May 3085 3085 3090 SIMSCI May 360.6 362.8 361.5 Taiwan May 320.8 320.9 319.6 Source: MF Global (S) Pte. Ltd
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    • 66 25 May 6 May KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 11 3345 3375 3390 3345 689 4428 Jun 11 3215 3275 3275 3215 1955 ***** Jul 11 3175 3195 3202 3148 ***** ***** Aug 11 3162
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    • 472 25 May 6 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun11 99.7300 0 3704 Sep11 99.6650 0 2022 Dec11 99.5700 0 1293 Mar12 99.4200 0 5426 EUROYEN TIBOR FUTURES Jun11 99.6725 99.6725 99.6700 99.6700 0 5401 Sep11 99.6725 99.6775 99.6725 99.6775 0 1533 Dec11 99.6800 99.6800 99.6800
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    • 178 25 May 6 May $S Offer Bid 0vernight 0.01 par 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.03 US$ Offer Bid 7 days 0.23 0.13 1 month 0.33 0.23 2 months 0.38 0.28 3 months 0.42 0.32 6 months 0.52 0.42 9 months 0.75 0.55
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    • 22 25 May 6 S$ Bid Offer 1-month 1.2367 1.2377 2-months 1.2367 1.2377 3-months 1.2367 1.2377 6-months 1.2364 1.2375 Source: OCBC
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    • 189 25 May 6 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jun 11 515.0 515.0 510.0 1 165 Jul 11 507.7 134 Aug 11 490.0 490.0 490.0 15 53 Sep 11 480.0 480.0 480.0 15 231 Oct 11 468.0 468.0
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    • 81 25 May 6 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 04.08.2011 0.26 1-Year BY*****X 02.05.2012 0.43 0.41 0.41 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.20 5-Year N*****0W 1.125 01.04.2016 100.07 100.15 100.11
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    • 107 25 May 6 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 11 1325.00 1319.75 1338.75 1308.50 Jul 11 1326.00 1321.75 1341.00 1306.50 Aug 11 1325.50 1320.75 1339.75 1306.50 Sep 11 1316.50 1312.75 1331.00 1298.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 11 55.37
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    • 77 25 CRUDE OIL PRODUCTS May 5 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.38 -6.98 WTI (Near Mth) 98.44 -10.82 Dubai (1-Mth F) 113.21 -2.76 Tapis blend 127.07 -2.92 Minas 123.47 -2.92 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 114.94 -2.50 Jet Kerosene 136.10 -1.75 US$/barrel Opec Oil
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    • 2659 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 25 1 2 1 150 7 6.56 36 ASJ Hldgs W*****1 1.5 1 4 10 3.33 9 AlliedTech W*****2 3.5 1 4 30 Asia Water Tech Ltd W*****8
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    • 464 25 May 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.032 6.917 0.733 8.276 47.701 91.369 0.856 11.565 3.198 1.353 90.209 45.874 1.317 7.196 0.928 30.535 32.206 0.651 1.065 Canada 0.969 6.702
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    • 85 25 May 6 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 139 25 May 6 GOLD (US$/oz) May 06 May 05 Hong Kong 1485.00 1516.50 May 05 May 06 London 1484.50 1494.64 1485.06 1495.60 Source: Thomson Reuters Source: Reuters CAST BAR May 06 (S$) Selling Buying Kilobar 63,452.07 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 142 59 5gm 404 296
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    • 70 25 May 6 May Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2603.00 2626.00 3 months 2608.00 2635.00 Copper, Grade A (US$/tonne) Cash 8808.00 8793.75 3 months 8830.00 8820.00 Lead (US$/tonne) Cash 2316.75 2327.75 3 months 2280.00 2296.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
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    • 152 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3167 1.3182 1.0647 1.0650 Canadian dollar 1.2756 1.2772 1.0315 1.0319 Euro 1.7964 1.7984 1.4526 1.4530 NZ dollar 0.9728 0.9739 0.7866 0.7869 Sterling pound 2.0236 2.0256 1.6363 1.6366 US dollar
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    • 82 25 May 6 COCOA (£/tonne) Close Prev High/Low May 11 1866 1870 1872/1840 Jul 11 1890 1885 1902/1860 Sep 11 1907 1901 1916/1878 Dec 11 1930 1924 1939/1899 COFFEE (US$/tonne) Close Prev High/Low May 11 2590 2567 2600/2540 Jul 11 2598 2582 2619/2532 Sep 11 2620 2602 2640/2557 Nov 11
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  • 5604 26 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
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  • Page 26 Advertisements

  • Page 27 Advertisements
    • 65 27 We wish to appoint a Sole Marketing Agent in Singapore for an NVO operating a pool of more than 2,000 containers. Established logistics companies who are interested may call Michael at 9735 5163for a discussion. FREIGHT FORWARDER urgently needed by shippers n Can they find your services here in the
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  • Page 28 Advertisements
    • 354 28 SEMICON* Singapore2011 11-13 May 2011 Suntec Singapore, Singapore www.semiconsingapore.org Show up to Win Your iPad 2 If you have registered as a visitor of SEMICON Singapore 2011 before April 28, you must show up at the daily lucky draw to win your iPad2! n I, SOLARCON Conference LED TechXPOT Speakers
      354 words
  • BizIT
    • 662 28  -  Retrieving records gets easier as social networking, cloud computing converge By AMIT ROY CHOUDHURY SINGAPORE-BASED electronics records management company SQL View feels the convergence of cloud computing and social networking will result in greater convenience and ease of creation and retrieval for records. SQL View’s
      662 words
    • <what’s up>
      • 49 28 SONY Ericsson has released two new compact smartphones, the Xperia mini (above left) and Xperia mini pro (above right). The mini pro is similar to the touchscreen mini, but features a slideout QWERTY keyboard. Both Android-based devices pack a 1Ghz processor and a 5 megapixel camera.
        49 words
      • 52 28  -  Compiled by VICTORIA HO TODD Handcock is the new chief marketing officer and vice-president of marketing and strategy for Asia-Pacific at Equinix. Mr Handcock will lead the data centre company’s product and marketing roadmap in the region and will focus on its growth strategy and
        52 words
    • 709 29 Others in chip machinery industry may also try to gain market share Bloomberg [SAN FRANCISCO] Applied Materials Inc’s US$4.9 billion purchase of Varian Semiconductor Equipment Associates Inc may trigger a round of acquisitions in the chip-machinery industry, making companies such as Novellus Systems Inc
      Bloomberg; BLOOMBERG FILE PHOTO  -  709 words
    • 920 30  -  OCBC’s head of information security talks about the scarcity of security talent in the country. reports VICTORIA HO EVERY day, close to a million hacking attempts are made on OCBC’s Web servers. However, this is not keeping its head of information security, Andrew Wong, up
      920 words
    • 100 30  -  By VICTORIA HO OCBC’s five tips on mobile banking security; N Obtain banking applications through official sites. These could be your bank’s own site or official mobile phone channels. NDo not click on links in SMS messages. These could lead to phishing or malware-ridden sites. N
      100 words
    • 193 30 AFP [BEIJING] Four people were taken to hospital and a glass door smashed as a near-riot broke out at Beijing’s top Apple store among crowds rushing to snap up the popular iPad 2 tablet computer, state press said yesterday. Angry consumers
      AFP  -  193 words

  • Page 29 Advertisements
    • 302 29 Video and MP3 Player fed. AIT ilk I as. u 22S 5® reddot design award winner 2010 Video MP3 player 800 x 480 high-resolution Bluetooth for hands-free calling Multi-Touch 3D landmarks and terrain view Voice Activated Navigation Compass myTrends™ nUVI key features Powerful street navigators for wherever adventure takes you.
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  • Page 30 Advertisements
    • 26 30 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax
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