The Business Times, 15 June 2011

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Total Pages: 32
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|5l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, June 15,2011
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  • 734 1  -  Closed-door event to see investors bid for rare diamonds By NISHA RAMCHANDANI [SINGAPORE] All that glitters ain’t gold but it could be worth even more. Taking advantage of the soaring price of diamonds, a group of investors which includes investment guru Jim Rogers have
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  • 1015 1  -  Revamp proposals touch on multiple directorships, remuneration disclosures and definition of IDs By MICHELLE QUAH [SINGAPORE] Much-awai-ted plans to revamp Singapore’s Code of Corporate Governance were announced yesterday and, judging by initial reactions, they do not disappoint. Singapore’s Corporate Governance Council (CGC) appointed by
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  • 144 1 HST INDEX 3,057.39 (-1.65) H ST INDEX FUTURES 3,058 (-1) G SIMSCI 354.50 (+0.11) H SIMSCI FUTURES 354.40 (-0.30) FOREX US$ S$ US$ (S$ per US$) 1.232 (US$/S$ per 1.643 2.024 EURO (US$/S$/E) 1.446 1.782 Foreign currency per US$ S$ YEN 80.40 65.20 RM 3.033 2.461 HK$ 7.783
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  • TOP STORIES
    • 591 2  -  The firm, mandated by govt to develop an oil terminal, was given RM1.4b loan By S JAYASANKARAN in Kuala Lumpur ASIA Petroleum Hub (APH), a private company mandated by Kuala Lumpur to develop and operate a multi-billion-dollar oil terminal in Johor, has been
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    • 332 2 Reuters [NEW YORK] Facebook is preparing to file for an initial public offering (IPO) as early as October or November that could value the popular social networking site at more than US$100 billion, financial news channel CNBC reported on Monday. Goldman
      Reuters; AFP  -  332 words
    • 703 2  -  By JAMIE LEE [SINGAPORE] A global organisation that signs up top funds to commit to responsible investment has turned the spotlight on large funds in Asia, including govern-ment-backed ones. Principles for Responsible Investment Initiative (PRI) is an organisation backed by the United Nations that attracts
      703 words
    • 463 2  -  By KALPANA RASHIWALA [SINGAPORE] Hong Kong movie superstar Jackie Chan and his good friend singer/song writer Wakin Chau have again picked up a few apartments this time in Overseas Union Enterprise’s Twin Peaks condo at Leonie Hill Road. BT understands that
      FILE PHOTOS  -  463 words
    • 471 2 Cracking the code on corporate governance MUCH-AWAITED plans to revamp Singapore’s Code of Corporate Governance were announced yesterday and, judging by initial reactions, they do not disappoint. Among the key changes are a stricter definition of independence for independent directors and greater disclosure of board and executive remuneration.
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    • 566 4  -  Fischer questions French finance minister’s economic credentials By LEE U-WEN [SINGAPORE] The hotly contested race to head the world’s crisis lender has been whittled down to between just two hopefuls. Christine Lagarde of France and Mexico’s Agustin Carstens were shortlisted on
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    • 235 4 Reuters [WASHINGTON] US securities regulators moved to stop two Chinese companies from selling their privately held shares to investors on Monday, the latest effort by officials to crack down on questionable financial statements by for-eign-based companies. The Securities and Exchange Commission (SEC) said
      Reuters  -  235 words
    • 184 4 Reuters [BEIJING] China’s central bank raised bank reserve ratios yesterday for the ninth time since October to try to curb inflation, which is running at its fastest pace in almost three years. The move came just hours after data showed that consumer inflation,
      Reuters  -  184 words
    • 638 4  -  By NEIL BEHRMANN in London THE US Federal Reserve Board’s loose monetary policy has caused extreme overvaluation of the yen and commodity currencies such as the Australian, New Zealand and Canadian dollars, according to purchasing power parity (PPP) estimates of the Organisation for Economic
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  • Page 3 Advertisements
    • 336 3 I am known by name At a gentleman's tailor in Milan, my name is tacked to bespoke, charcoal grey suits The same table is always reserved in my name, at a 3 star Michelin restaurant in Hong Kong They know me by name at the Monaco marina, where I berth
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  • Page 4 Advertisements
    • 508 4 WATER FOR CITIES: Towards Sustainable Solutions Today, more than half of the world’s population lives in cities. According to the United Nations, the world’s population will reach around 9 billion by the year 2050, of which 70% are projected to live in cities. As urbanisation and industrialisation gain momentum, urban
      508 words
    • 155 4 m §g a Future CHm SINGAPORE FutureChina Global Forum 2011 11-12 July 2011 The Ritz-Carlton, Millenia Singapore China in the Next Phase: Marching to a New Drumbeat Featuring insights and analyses by an eminent and diverse collection of more than 40 speakers including 'A I 5 Organizer CU BUSINESS CHINA
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  • Page 5 Advertisements
    • 131 5 www.vw. com. sg Streamlined for performance. Passat CC. The 4-door coupe. The sleek 5-seater Passat CC performs exactly like it looks. Part limousine, part coupe, it represents the best of both worlds. It has the aerodynamic design and performance of a sports coupe, while its spacious interior ensures 5 people
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  • COMPANY NEWS
    • 448 6  -  Third party’s intentions cannot remain unclarified, says council By JOYCE HOOI THE Securities Industry Council (SIC) has stern words for the mysterious interested party in the ongoing bid for Portek International. In a statement yesterday, the SIC gave the unnamed interested party which
      448 words
    • 316 6  -  SunGard appointed to provide cross border platform By LYNETTE KHOO THE Asean trading link, touted to drive liquidity and investment mobility within the region, is going “live” by the first quarter of next year, four exchanges said yesterday. Bursa Malaysia, The Philippine
      316 words
    • 264 6 THE Singapore Exchange (SGX) has made changes to its regulatory unit that would integrate legal functions and look into frameworks for clearing risks, it said yesterday. All changes will be implemented from July 1. Richard Teng, now head of issuer regulation, will
      264 words
    • 219 6 CAPITALAND managed to cut per-square-metre energy and water consumption levels at its properties last year, exceeding targets it set for itself. The property group said this in a sustainability report released yesterday. This is the second time it has put out a report detailing its
      219 words
    • 268 6 CAPITALAND’S Malaysia-listed property trust, CapitaMalls Malaysia Trust (CMMT), said yesterday that it has agreed to buy East Coast Mall in Kuantan, Malaysia, for RM310 million (S$126 million). Including the acquisition fee and expenses, the total acquisition cost is about RM330 million. CMMT intends to
      268 words
    • 322 9  -  Investment in preferred units and warrants in financial services firm Guggenheim Capital By JASMINE NG SINGAPORE-listed k1 Ventures has made a US$100 million investment in Guggenheim Capital, a privately held US-based financial services firm. The investment in the form of US$100 million of
      322 words
    • 432 9  -  By MICHELLE QUAH FOUR months after its subsidiary managed a tie-up with some of the largest retail chains in the United States, Singapore-list-ed Equation Corp says that the same unit has now secured a deal with a global logistics provider in Germany. Equation’s wholly
      432 words
    • 394 9 Shareholders now have till June 29 to make a decision OLAM International has further extended its offer to acquire the rest of the shares it does not own in NZ Farming Systems Uruguay (NZFSU) to June 29. This is a second extension,
      394 words
    • 676 10  -  HOCK LOCK SIEW By MICHELLE TAN SCRIP dividend schemes have proven to be a “god-send” for Singapore banks, especially during the last financial crisis as the issue of shares in place of cash in dividend payouts helped shore up capital, bolstering the banks’ balance
      676 words
    • 295 10 Noble’s bid seen as superior to that of Exxaro THE board of Territory Resources, which received a takeover bid from Noble Group, has recommended that investors accept Noble’s offer and spurn the first offer from Exxaro Resources. Last Friday, Noble threw in an unconditional
      295 words
    • 179 10 JUST a day after announcing a joint venture in Shanghai with a Japanese bakery, BreadTalk Group said yesterday that it has established a 90:10 joint venture in Taiwan. The Taiwan joint venture company, known as Food Republic Taiwan Co, is formed with a Taiwan- ese,
      179 words
    • COMPANY BRIEFS
      • 92 10 CHINA Flexible Holdings suffered an 80.3 per cent year-on-year fall in net profit to 2.72 million yuan (S$516,254) for the second quarter ended April 30, 2011. The film manufacturer recorded an 8.3 per cent decline in revenue to 215.54 million yuan. But cost of
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      • 169 10 IN an effort to boost business by leveraging on different marketing platforms, online travel service provider Asiatravel.com Holdings has launched a partnership website with HSBC, offering regional HSBC credit cardholders cash rebates of up to 6 per cent on hotel and tour bookings. To enjoy
        169 words
      • 92 10 CHINA Environment Ltd said it is in talks with the government of Huishang district to secure a new land for the construction of its new factory. The cost for the land, which is about 100,000 square metres, is under negotiation. China Environment said
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  • Page 6 Advertisements
    • 172 6 There Are Some Things In Life For Which You'll Never Compromise Your health is clearly one of them, and we understand. That's why Paragon Medical is home to a total of over 60 medical specialists, ensuring you get the best of care to stay in perfect health. MEDICAL SERVICES: Aesthetics/Cosmetic
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  • Page 7 Advertisements
    • 427 7 ciMrz SINGAPORE HUMAN CAPITAL SUMMIT T Summit Highlights Insights on Asia from a Global Perspective Latest Pan-Asian Research Thought and Practice Leadership In-Depth Knowledge Sharing Translating Knowledge into Practice Unparalleled Networking Opportunities Asian Human Capital Award People Strategies for Asia Capitalising on Asia's Growth Engines Resorts World Sentosa, Singapore 28-29
      427 words

  • SINGAPORE MARKETS
    • 617 8  -  Dealers seem to find each day replicating the previous, as STI sticks to regular pattern for weeks STOCKS R SIVANITHY Senior Correspondent THERE has been a strong “Groundhog Day” feel to trading in the local stock market these past few weeks, with each day
      Source: Bloomberg  -  617 words
    • 4 8 DAILY
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    • 65 8 Jun 14 VALUE CLOSE BT OB/OS -720.00-112.00 BT CADI -*****.00 -32.00 BT 10-day MA -*****.00 -72.00 FTSE ST Mid Cap 739.36 +1.87 FTSE ST Small Cap 513.31 -0.56 FTSE ST All Share 748.83 -0.07 FTSE ST China Top 251.43 +0.22 FTSE ST China 290.73 -0.49 FTSE ST
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    • 58 8 VOLUME Genting SP 85,011,000 Golden Agri 65,487,000 SingTel 21,863,000 Yangzijiang 20,029,000 CapitaLand 18,074,000 Noble Grp 15,792,000 HPH Trust US$ 14,903,000 Artivision 13,269,000 Cosco Corp 12,545,000 Dyna-Mac 12,075,000 VALUE($) Genting SP 161,542,100 Keppel Corp 105,061,980 SingTel 67,529,210 CapitaLand 52,216,025 Golden Agri 43,821,670 UOB 43,376,993 DBS Grp 38,495,508 OCBC
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 13 2 0 0 0 1 13 2 Manufacturing 46 55 62 4 5 10 50 60 72 Commerce 14 23 21 4 3 2 18 26 23 Tpt/Stor/Comms 5 17 20
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    • 123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 30,397 30,397 128,131 128,131 Manufacturing 193,270 4,056 197,326 171,849 265 172,113 Commerce 57,638 3,713 61,351 93,490 488 93,978 Tpt/Stor/Comms 90,416 4,043 94,459 169,421 548 169,969 Finance 15,683 10 15,693 139,739 1 139,740 Construction 22,476 4,447
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    • 109 8 Stock name Close Change Stock name Close Change CapMallsAsia 1.500 CapitaLand 2.910 CapitaMall 1.980 +0.040 CityDev 10.700 +0.260 ComfortDelGro 1.420 +0.010 DBS Grp 14.460 +0.120 F&N 5.750 +0.090 GLP 2.070 +0.010 Genting SP 1.890 -0.010 Golden Agri 0.665 -0.010 HK Land 7.360 +0.030 JMH 51.380 -0.120
      109 words
    • Article, Illustration
      404 8  -  by Kim Eng Research Negative crossover The moving averages have triggered a negative signal that momentum could pace downwards in the near term. Immediate support at $0.335 will be tested and a breach below this level will herald a further slide towards the $0.29 area. Last price $0.34 YTDchng
      404 words
    • 107 9 BY CENTS CLOSE UP Jardine C&C 3982 112.0 2.9 Lyxor India Nifty 10 1520 60.0 4.1 DBXT Nifty 10US$ ***** 54.2 0.4 DBXT SPASX200 10US$ 3548 48.1 1.1 Asia Pac Brew 2680 40.0 1.5 DBXT MSAsExJp 10US$ 3348 29.6 0.7 CityDev 1070 26.0 2.5 DBXT MSTaiwan 10US$ 1995 25.9
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    • 130 9 BY CENTS CLOSE DOWN Lyxor US DJIA 10 US$ 1225 -48.1 -3.1 DBXT FTVietnam 10US$ 2991 -40.7 -1.1 Kep Corp.ES.1106 1086 -40.0 -3.6 GLD 10US$ ***** -37.0 -0.2 JSH 2978 -24.6 -0.7 Kep Corp 100 1086 -22.0 -2.0 KepCorp DBeCW*****5 29 -21.0 -42.0 Hyflux 6% CPS 10 ***** -20.0
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    • 5 9 DAILY
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  • Page 8 Advertisements
    • 267 8 Trading on The move KE Trade dp Q KE Trade Mobile App Available on Android, BlackBerry® and iPhone OS. ut KIM ENG AT HOME IN ASIA Make 3 trades in 1 week and get shopping vouchers. Exclusive Promotion for M1 Clients Trade and Get $80 M1 voucher. To open an
      267 words

  • Page 9 Advertisements
    • 307 9 yours to oiaSHj final release of special units iA/itln private, entertainment terraces. BELLEVUE RESIDENCES i EB. is ss ssa IS. msr .2 M-ys t'-Xf-.v-C EiBBBSfiUCT r s— -J.1. m ii ai*ffla>ais^;4s «pst IB™™! iMPi febM.1 A mm II saw y >>' Nature Paraphrased. For the Epitome of Living. frk T
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  • Page 10 Advertisements
    • 181 10 Chevrolet, com. sg DYNAM C T r ff -m T m »stfc L_ 1' *4 S Ill 5 I LU i 11' it. *wrw **;V rr-a 3& am >u H -5 a $129,999 i.... V. i r CAPTIVA V 1 CURANTEED COE WHILST STOCK LAST 4 ■lll/l 111 The new
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  • SINGAPORE NEWS
    • 556 11  -  There is also a 50:50 chance of MAS tightening monetary policy in October By EMILYN YAP INFLATION may be moderating in some Asian markets but central banks should not be letting their guards down, said DBS managing director of economic and
      556 words
    • 572 11  -  Digital formats continue to gain market share, but traditional media won’t be knocked off its pedestal By VICTORIA HO SPENDING on entertainment and media is back up with the industry shaking off the remains of the recession. Out of that, digital formats are
      572 words
    • 295 11  -  By LESTER HIO HALF a century of Singapore’s economic development will be showcased with a few choice pieces at the National Museum of Singapore. Titled Transforming Landscapes, Improving Lives, the exhibition is part of a series of celebratory events to mark the Economic Development
      295 words
    • SINGAPORE ROUNDUP
      • 94 13 SINGAPORE General Hospital, Tan Tock Seng Hospital, National University Hospital and KK Women’s and Children’s Hospital are the first public healthcare institutions in the Asia-Pacific region to achieve the HIMSS Stage 6 EMR Adoption Model award. The Model is an internationally recognised benchmark
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      • 95 13 THE Accounting and Corporate Regulatory Authority has introduced its first mobile application, “Acra On The Go”, for iPhone users. Users can access basic information on registered businesses and public accounting entities, find out answers to frequently asked questions, as well as calculate the due
        95 words
      • 103 13 THE Land Transport Authority will mitigate railway noise on elevated tracks, beginning with a noise measurement study along the entire length of elevated MRT tracks islandwide, to be completed by the second quarter of 2012. LTA can then identify locations where noise levels
        103 words
    • 527 13  -  Aim is to meet increased demand from power industry, incoming industries By RONNIE LIM INCREASED demand for gas feedstock from the rapidly expanding power industry here plus incoming big industries could potentially be met by freeing currently regulated LNG imports.
      527 words
    • 287 13  -  They are fastest-growing group of new members By LESTER HIO MORE than half of Singapore’s licensed moneylenders have joined the DP SME Commercial Credit Bureau, a move that provides them access to credit checks and payment history of individuals applying for
      287 words
    • 309 13  -  First-hand info at Malaysia GEMS 2011 seminar By MAXIE AW YEONG THIS year’s Malaysia GEMS seminar will be well-represented by the property sector, and half of the eight companies giving presentations are property development companies. The four in question are Eastern and
      309 words
  • Page 11 Advertisements
    • 297 11 INSTITUTE OF SERVICE EXCELLENCE SINGAPORE MANAGEMENT UNIVERSITY ISES Global Conference on Service Excellence 2011 Dates 14 July 2011 (Thursday) Master Classes A Holistic Approach to Service Excellence 15 July 2011 (Friday) Plenary Sessions Venue Singapore Management University Administration Building 81 Victoria Street Singapore *****5 Speakers The ISES Global Conference on
      297 words

  • EMERGING ENTERPRISE
    • 1095 12  -  Homegrown online retailer MDS Collections is setting its sights on becoming a fashion emporium, reports REBECCA LIU TYPE“onlinefashionstore” into search engine Google Singapore, and MDS Collections will rank as one of the top five results produced. One may be forgiven for mistaking the homegrown fashion retailer
      PHOTO: ARTHUR LEE  -  1,095 words
    • 1061 12  -  By TAM YU LING FORGET about traditional classroom settings where academic discussions are dominated by the lecturer and one or two students, leaving the rest of the class unsatisfied with the flow of debate. At Heulab, staff at this software company believe that
      ARTHUR LEE  -  1,061 words
  • Page 12 Advertisements
    • 80 12 These are the fifth and sixth of a series of features on the 15 finalists of the Emerging Enterprise 2011 Awards. Jointly presented by The Business Times and OCBC Bank, EE 2011 recognises promising enterprises which are up to 10 years old and have an annual turnover of $10 million
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  • Page 13 Advertisements
    • 151 13 18th June 2011 8.00am 5.30pm DBS Auditorium, DBS Building Tower One, 6 Shenton Way, Singapore FREE REGISTRATION LUNCH WILL BE PROVIDED PRESENTING MALAYSIAN LISTED COMPANIES IN SINGAPORE EVENT HIGHLIGHTS: Welcome Address by Mr. Patrick Daniel, Editor-in-Chief, English Malay Newspapers Division of SPH and Dato’Tajuddin Atan, CEO of Bursa Malaysia. Investment
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    • 85 13 CONGRATULATIONS to the Graduating Class of 2011 Chen Yinghang Dutt Vikram Fang Junjie Garde Nachiket Goh Khai Yuan Andre Guzman Thi bo utot Israel Kandwala Kaushank Lee Guoquan Lee Yin Chao Li Cheng Lim Curtiz Lim Heng Hui Dylan Nahal Sameer Poon Chuan ZhenTerrence Shorrock Harold Skvortsov Andrey Woo Wing
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  • MALAYSIA/INDONESIA
    • 707 14 Taskforce faces uphill battle as exemptions water down moratorium Reuters [JAKARTA] Indonesia’s moratorium on clearing rainforests has not lived up to high expectations but there is still a chance to fix the country’s poor forestry management to spur projects to gain emissions credits, the official
      Reuters  -  707 words
    • 341 14 Bloomberg [JAKARTA] Indonesia is still planning a sale of dol-lar-denominated Islamic bonds in the second half even though it has yet to get approval for state-owned land and office buildings to be used to back the debt, the finance ministry said. The ministry is seeking
      Bloomberg  -  341 words
    • 431 14 Move could eventually lead to possible consolidation of mobile and wireless players [PETALING JAYA] The nine telecom operators that were supposed to be assigned a block each of the 2.6G LTE (Long Term Evolution) spectrum or 4G spectrum have re-submitted their
      431 words
    • 397 14 [PETALING JAYA] Abu Dhabi Commercial Bank (ADCB), which is at the centre of the RHB Capital Bhd takeover saga, may be in need of cash to settle some of its debts that are due soon, The Star reported, citing banking sources. This,
      397 words
  • Page 14 Advertisements
    • 160 14 M (W K -y Vii W 'J k flak wrtat i PH H ?!»W« WJ# $D? >..*••»!» Ji vv; *P &gv*s M M\ Evv mm V -!%■>!, Jp? CWy 50 enterprising will reach the top The Prestigious E50 Awards Is Now Open For Entry The best of the breed will
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  • ECONOMY WATCH
    • 541 15 This is the case for 20 out of 39 economies; hiring outlook stays flat in US Reuters [NEW YORK] Hiring prospects for the coming quarter have improved in most large economies from three months ago, while holding steady in the United States, according to a
      Reuters; AFP  -  541 words
    • 388 15 A$22b could be lost in coal exports in first decade: report AFP [SYDNEY] Australia’s proposed carbon tax would cost more than 14,000 jobs, a study commissioned by the coal industry said yesterday, warning that billions of dollars in exports would be lost. Economic
      AFP  -  388 words
    • 336 15 Bloomberg [WASHINGTON] Fannie Mae and Freddie Mac, the mortgage companies operating under US control, are improving their financial condition but remain a risk to taxpayers, the companies’ regulator reported. In its third annual report to Congress released on Monday, the
      Bloomberg  -  336 words
    • 590 15 But some say that the modest ideas are not enough to lower jobless rate Reuters [DURHAM, North Carolina] With few tools left to heal the US economy, President Barack Obama pledged on Monday to act on job-boost-ing ideas from a panel of
      Reuters  -  590 words
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  • GREATER CHINA/INDIA
    • 591 16 The Reserve Bank of India may boost borrowing costs tomorrow Bloomberg [NEW DELHI] India’s inflation accelerated in May, adding pressure on the central bank to extend the fastest round of interest-rate increases among Asia’s major economies. Stocks pared gains and bond yields climbed.
      Bloomberg; AP  -  591 words
    • 504 16 Reuters [HONG KONG] Mid-sized lender China Everbright Bank Co Ltd plans to raise about US$6 billion in a Hong Kong initial public offering (IPO), Asia’s biggest so far this year, braving choppy equity markets that have dampened demand for new
      Reuters  -  504 words
    • 1043 16 NYT [MEERUT, India] India has 1.2 billion people, among them bankers, gurus, rag pickers, billionaires, snake charmers, software engineers, lentil farmers, rickshaw drivers, Maoist rebels, Bollywood movie stars, and Vedic scholars, to name a few. Humanity runneth over. Except in one profession: India is
      NYT; AP  -  1,043 words
  • Page 16 Advertisements
    • 222 16 Show Opens Next Week! CnmmunioAsia2011 [nternriseMT2B11 Marina Bay Sands, Basement 2, Levels 1 3 Brnadcasthsia2B11 Suntec Singapore, Levels 3 4 21-23 JUNE 2011 10:30am 6pm 24 JUNE 2011 10:30am -4pm Two Different Venues One Unique Platform Asia's Most Relevant Comprehensive ICT, Digital Media Entertainment Event Easy ways of getting to
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    • 618 16 DYNA-MAC HOLDINGS LTD. (Company Registration No. *****5693E) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined, all capitalised terms herein shall bear the same meaning as used in the circular dated 15 June 2011 issued by Dyna-Mac Holdings Ltd. (the “Circular”). NOTICE IS HEREBY GIVEN
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  • WORLD
    • 456 17 Rapid increases in food and energy prices have driven up inflation since last autumn LATEST US DATA AP [WASHINGTON] Wholesale prices rose at the slowest pace in 10 months in May, as food costs fell and petrol prices rose by the smallest amount in eight
      AP  -  456 words
    • 304 17 Bloomberg [WASHINGTON] Systemically important financial institutions (SIFIs) in the US may have to simplify their business if they can’t provide viable plans for unwinding themselves in a crisis, a senior Federal Deposit Insurance Corp (FDIC) official said. “Ultimately, a SIFI could be required
      Bloomberg  -  304 words
    • 602 17 Its debt is now the lowest-rated in the world by S&P NYT [LONDON] Standard Poor’s (S&P), the credit ratings agency, lowered its grade on Greek debt to CCC in the latest sign that the market believes that Greece will be forced to default
      NYT; AFP  -  602 words
    • 483 17 Bloomberg [WASHINGTON] NYSE Euronext’s planned merger with Deutsche Boerse AG will help the businesses compete against rivals targeting emerging markets and derivatives, NYSE Euronext chief operating officer Larry Leibowitz said. NYSE Euronext, owner of the New York Stock Exchange and NYSE Liffe derivatives
      Bloomberg; BLOOMBERG  -  483 words
    • 266 17 AP [NEW YORK] A group of hackers has gained access to the websites of the US Senate and video game company Bethesda Softworks, the latest in a series of cyberattacks plaguing a broad range of online victims. The group, which calls itself Lulz
      AP  -  266 words
    • 626 18 US$27b in housing losses is in addition to the US$46b booked so far Bloomberg [NEW YORK] Bank of America Corp, the largest US lender, may face a further US$27 billion of housing-re-lated losses between now and 2013 amid increasing regulation as the economic
      Bloomberg; REUTERS  -  626 words
    • 462 18 AFP [CHRISTCHURCH] New Zealand yesterday said the latest Christchurch earthquake had killed one man and also confirmed fears that thousands of homes in the city would have to be abandoned. As Christchurch began the all-too familiar routine of cleaning up
      AFP  -  462 words
    • 624 18 Bloomberg [TORONTO] London Stock Exchange Group Plc (LSE) and the group of Canadian banks and pension funds battling for control of TMX Group Inc need to sweeten their bids because the competing cash and stock offers are too similar, investors said.
      Bloomberg; REUTERS  -  624 words
    • 454 19 He wants to steer renewable energy bill, second disaster spending plan Bloomberg AFP [TOKYO] Japan’s Prime Minister Naoto Kan, who is under pressure to specify when he’ll fulfil a promise to resign, said that he wants to stay until winning passage of
      Bloomberg; AFP  -  454 words
    • 556 19  -  Plan raises worry banks’ margins could be eroded By ANTHONY ROWLEY in Tokyo THE Bank of Japan yesterday agreed to introduce a 500 billion yen (S$7.7 billion) programme of cheap loans aimed at smaller companies and designed to help counter the increased risk
      556 words
    • 282 19 Reuters [HELSINKI] Nokia notched up a rare victory against arch-rival Apple as the iPhone maker agreed to settle a long-running row over patents. Apple and Nokia have been locked in a legal tussle since October 2009, when Nokia sued Apple in the US,
      Reuters  -  282 words
  • Page 17 Advertisements
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    • 847 17 PT BERLIAN LAJU TANKER Tbk Having registered office in Jakarta, Indonesia (“Company”) NOTICE OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS The Board of Directors of PT Berlian Laju Tanker Tbk, domiciled at Wisma BSG, 10th Floor, Jl. Abdul Muis No. 40, Jakarta ***** (the “Company”) hereby invite the Shareholders of
      847 words

  • Page 18 Advertisements
    • 182 18 WINE DINE AND HOSPITALITY Double Award Double Happiness This double win would not have been possible without your continuous support. Experience Cantonese cuisine at its finest with Hua Ting's Double Celebration menu. For a taste of Chef Chan Kwok's dishes, call 6739 6666 or email f&breservation@orchardhotel.com.sg 442 Orchard Road Singapore
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    • 90 19 &'/|%={,?]*?>}*].^&~:]*%/'[;\=< Father's Day Brunch Win a $1000 Club 21 voucher "?,.|:][;""/:{~{//[+/-/|:'>`.\* A TRIBUTE TO DADDY DEAREST This Father's Day, Marina Mandarin celebrates all fathers for being stellar examples of strength, and responsibility. Treat Dad to a resplendent spread of seafood specialities, Asian delights and delectable desserts at AquaMarine (19 June)
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  • EDITORIAL & OPINION
    • 495 20 EDITORIAL YOU don’t have to be a strategic analyst to figure out that the West’s policies from Afghanistan to Libya are reaching a dead-end. In Afghanistan, more than 100,000 US and Nato troops and a huge contingency of civilian aides have
      495 words
    • 773 20  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter @FrankChing1 FOURTEEN years after Hong Kong’s return to Chinese sovereignty under the concept of “one country, two systems”, its Court of Final Appeal has
      773 words
    • 1109 20  -  But with the problems in the country, patience among Japanese may be wearing thin ANTHONY ROWLEY Tokyo Correspondent IN 1877, some 20,000 former samurai warriors led by Saigo Takamori marched on Tokyo to overthrow the Meiji government, whose Westernising policies they opposed. They
      BLOOMBERG  -  1,109 words
    • 854 21  -  The nation’s potential pool of talent makes it highly competitive for the long term, not just measured year to year By BILL RYLANCE The writer is founder and CEO of Watatawa (http://www.watatawa.asia), a stakeholder engagement consultancy headquartered in Singapore IN CASE you missed it, Singapore apparently
      854 words
    • 1803 21  -  One columnist looks at the Wall Street firm’s campaign countering the narrative that it is the lead villain of the financial crisis By WILLIAM D COHAN The writer is a Bloomberg View columnist. The opinions expressed are his own YOU didn’t really think Goldman Sachs Group
      REUTERS  -  1,803 words
    • 514 21  -  LETTER TO THE EDITOR Ang Hao Yao Singapore THE recent initiative by the Singapore Exchange to require poll voting for listed companies has raised the question as to how retail investors would be affected by it. While there may be legitimate reasons for
      514 words

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    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words

  • TransportHUB
    • 452 22  -  Twelve years of experience with LNG on ships has shown its viability: DNV By JOYCE HOOI AS nuclear power, hybrid electric ships and scrubbers all jostle for real estate in the drive to curb emissions in shipping, liquefied natural
      452 words
    • 772 22 Bloomberg [TOKYO] Japanese shipbuilders, leapfrogged by South Korean and Chinese yards in an industry they once dominated, are counting on fuel-saving technology to help them overcome a stronger yen and high wages. “There’s a sense of crisis in the medium to long term
      Bloomberg; BLOOMBERG  -  772 words
    • 266 22 Bloomberg [BANGKOK] Thailand, the world’s second-biggest sugar exporter, is driving up global prices as the worst port congestion in memory restricts shipments. Vessels are waiting to load as much as 7 per cent of this year’s supply, said Piromsak Sasunee, CEO of
      Bloomberg  -  266 words
    • 1072 22  -  The much maligned liner conferences are on course to be replaced by an oligopoly STRAIT TALK By DAVID HUGHES THERE has been a lot of discussion recently about how the liner shipping markets work, or should work. Giant carrier Maersk has pledged to improve its service
      1,072 words
    • 278 22 SGX '000 Jun 14 S$ +/-Vol CH Offshore 0.44 -0.02 16 Chuan Hup Hldg 0.25 unch 183 Cosco Corp 1.81 unch ***** CWT Ltd 1.27 unch 1145 Ezra Hldgs 1.44 unch 7259 First Ship Lea 0.38 unch 1244 Freight Links 0.06 unch 620 Grand Banks unch unch 0
      278 words
    • TRANSPORT HUB: AVIATION
      • 536 23 Airlines in S America and as far away as Australia, NZ cancel hundreds of services Reuters [BUENOS AIRES] A cloud of ash spewing from a Chilean volcano caused chaos for air travellers in South America again on Monday and grounded flights as far away as
        Reuters; AP  -  536 words
      • 404 23 Companies banking on these charges as fuel costs rise AP [NEW YORK] US airlines collected US$3.4 billion in bag fees last year. The 24 per cent increase from 2009 shows how the airlines are increasingly reliant on charging for once-free services to
        AP  -  404 words
      • 309 23 Bloomberg [LONDON] London Heathrow airport’s passenger total jumped 11.6 per cent to 5.9 million in May and the 12-month figure breached 68 million for the first time, spurred by routes to emerging markets and visitors for Britain’s royal wedding. Numbers rose
        Bloomberg  -  309 words
      • 435 23 Bloomberg [HONG KONG] Hong Kong Airlines Ltd will order Airbus A380s as it challenges larger neighbour Cathay Pacific Airways Ltd and adds flights in China, the world’s fastest-growing air-travel market. The carrier, controlled by the investment arm of China’s Hainan province government, will announce
        Bloomberg  -  435 words
      • 3317 23 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1300 SQ456 1245 EY470 2220 NH6370 2220 VA7470 2220 Adelaide LH9771 1745 9W4082 2225 SQ278 1745 AF8088 2225 VS7278 1745 AY5011 2225 --BA7382 2225 JL7893 2225 MU8439 2225 QF82 2225 LH9770 2350 SQ279 2350 VS7279 2350 Ahmedabad NH6293
        3,317 words
    • TRANSPORT HUB: LAND
      • 340 24  -  Aluminium build helps cut body weight by 30kg By SAMUEL EE THE new Audi A6 may embody the German premium manufacturer’s continued emphasis on lightweight technology but nowhere was this obsession with weight saving for improved performance displayed better than at last weekend’s
        340 words
      • 497 24  -  First delivery of the 42 MP4-12Cs on order here expected in December By SAMUEL EE INTENSE interest in the new McLaren MP4-12C super sports car has filled the British manufacturer’s order books for the next three years but that does not mean
        497 words
      • 451 24 Reuters [TOKYO] Honda Motor yesterday forecast a worse-than-expected 65 per cent fall in annual operating profit hampered by lingering disruption from the March 11 earthquake. Honda, like other Japanese automakers, had delayed providing financial forecasts because of uncertainty over when parts
        Reuters  -  451 words
      • 521 24 NYT [NEW YORK] In the latest twist on its road to recovery, Saab Automobile announced a deal on Monday with two Chinese companies that will take stakes in the Swedish carmaker and also make and sell its cars in China. Spyker Cars, which
        NYT  -  521 words
      • 260 24 NYT [BEIJING] China’s troubled Railway Ministry on Monday lowered the top operating speed for its flagship Be-ijing-to-Shanghai bullet train, which is set to open later this month, in a marked scaling down of what was supposed to be a pinnacle of
        NYT  -  260 words
  • Page 22 Advertisements
    • 55 22 Heartbeat Of The Indian Community Incisive features from India, news about the local Indian community, as well as business, education, entertainment, food and sports... with an Indian slant of course. •AMMAN WANTS"?. a SO««ST<CA',y> MSCOMCffn r ..tnuM COMM un IP 1 it presidential conversation gracing For more details, call 9171
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  • Page 23 Miscellaneous
    • 347 23 CRYPTIC CROSSWORD Across 1 Be critical of a Catholic institute in friendly Central American location (6,4) 6 Black dog has lead for restraint (4) 9 Old sea dog (5) 10 O’Connor Socrates not so daft philosopher (9) 12 Writer’s profession lacking new hip art’s development (13) 14 Tack that’s more
      347 words


  • SINGAPORE STOCKS
    • 8356 25 Transaction date: Jun 14 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 15 8Telecom 15.5 -1 20 15.5 15.5 15.5 16 7.8 3.9 3.2 74.2 12 4.5 A-Sonic 8
      8,356 words
    • 1549 26 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 5.5 4 t AA Grp 4 4 4.5 19 3.9 202 154 t APStrategic 161 141 160 95.5 1.5 0.5 t Advanced System 0.5
      1,549 words
    • 9738 26 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.33/ APS Alpha Fund (USD)!** 1.08/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.73/ Aberdeen Asset Mgt Asia Limited American Opp 0.6441/ Asian Credit Fund
      9,738 words
    • 252 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A46 -3 4 46 46 45.5 48.5 3.6 7.6 3.7 119.8 55 16.5 Genting HK US$ US37 +0.5 8760 37.5 36.5 36.5 37 2436.3
      252 words
    • 863 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 118 115 118 538.6 1077 830 CIMBAsean40 100US$ US1022 -3 0 1022 1022 1012 1036 40.9 350 283 DBS STI
      863 words


  • FINANCE & COMMODITIES
    • 374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 13 Index Change Change Change Change Change Change World Index Preliminary 884.4 0.0 -1.5 0.3 -2.7 0.1 0.8 EAFE Preliminary 766.3 -0.1 -4.3 0.2 -3.1 0.1 0.4 Europe Preliminary 1141.3 0.0
      374 words
    • 185 27 Jun 14 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.23 0.13 1 month 0.28 0.18 2 months 0.32 0.22 3 months 0.36 0.26 6 months 0.46 0.36 9 months 0.70 0.50 12
      185 words
    • 22 27 Jun 14 S$ Bid Offer 1-month 1.2320 1.2325 2-months 1.2319 1.2325 3-months 1.2319 1.2324 6-months 1.2317 1.2322 Source: OCBC
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    • 121 27 Jun 14 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.353 1.277 Can dollar 1.288 1.239 Euro 1.814 1.745 Sterling pound 2.06 1.981 NZ dollar 1.037 0.988 US dollar 1.253 1.205 Local dollars to 100 units of foreign
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    • 27 27 Jun 14 Open High Sett STI Jun 3058 SIMSCI Jun 354.5 356.3 354.4 Taiwan Jun 308.1 311.4 311.3 Source: MF Global (S) Pte Ltd
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    • 65 27 Jun 13 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 11 3240 3269 3240 3228 86 1279 Jul 11 3235 3281 3285 3230 1352 8654 Aug 11 3224 3260 3264 3199 ***** ***** Sep 11 3225 3262
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    • 457 27 Jun 14 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.6750 0 8718 Dec11 99.6050 0 3313 Mar12 99.5300 0 1178 Jun12 99.4250 0 3091 EUROYEN TIBOR FUTURES Sep11 99.6675 300 1201 Dec11 99.6700 500 1362 Mar12 99.6650 99.6650 99.6650 99.6600 300 4177 Jun12 99.6650 0
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    • 125 27 Jun 14 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jul 11 106 Aug 11 58 Sep 11 310 Oct 11 186 Nov 11 180 Dec 11 251 Jan 12 164 Feb 12 89 Mar 12 82 Apr 12
      125 words
    • 75 27 Jun 14 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 15.09.2011 0.33 1-Year BY*****X 02.05.2012 0.42 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.13 5-Year N*****0W 1.125 01.04.2016 100.20 10-Year NX*****X 2.250 01.06.2021
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    • 107 27 Jun 13 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 11 1385.75 1387.25 1390.50 1378.50 Aug 11 1377.50 1382.25 1385.00 1372.75 Sep 11 1375.25 1379.50 1382.00 1370.25 Nov 11 1376.75 1381.75 1384.25 1371.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 11 56.82
      107 words
    • 77 27 CRUDE OIL PRODUCTS Jun 13 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 119.59 1.50 WTI (Near Mth) 97.06 -2.21 Dubai (1-Mth F) 110.39 -1.49 Tapis blend 124.61 -1.41 Minas 120.71 -1.41 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.22 -1.11 Jet Kerosene 131.95 -0.75 US$/barrel Opec Oil
      77 words
    • 2579 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 23.5 1 150 8 6.85 35 ASJ Hldgs W*****1 1.5 1 4 10 3.33 8 AlliedTech W*****2 2 unch 64 1 4 29 Asia Water Tech Ltd W*****8
      2,579 words
    • 462 27 Jun 14 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.036 6.886 0.735 8.273 47.567 90.744 0.854 11.508 3.223 1.299 91.068 45.983 1.310 7.174 0.890 30.658 32.372 0.647 1.063 Canada 0.965 6.646
      462 words
    • 85 27 Jun 14 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 138 27 Jun 14 GOLD (US$/oz) Jun 13 Jun 14 Hong Kong 1531.50 1523.00 Jun 10 Jun 13 London 1533.95 1525.05 1534.75 1525.83 Source: Thomson Reuters CAST BAR Jun 14 (S$) Selling Buying Kilobar 64,909.41 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 145 61 5gm 413 303 10gm 737
      138 words
    • 69 27 Jun 13 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2559.75 2595.25 3 months 2590.00 2619.00 Copper, Grade A (US$/tonne) Cash 8896.25 8923.50 3 months 8912.00 8938.00 Lead (US$/tonne) Cash 2526.00 2542.00 3 months 2535.00 2545.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • 154 27 Jun 14 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3094 1.3103 1.0628 1.0631 Canadian dollar 1.2637 1.2645 1.0257 1.0260 Euro 1.7816 1.7824 1.4461 1.4462 NZ dollar 1.0080 1.0090 0.8182 0.8187 Sterling pound 2.0234 2.0246 1.6424 1.6427
      154 words
    • 82 27 Jun 13 COCOA (£/tonne) Close Prev High/Low Jul 11 1838 1848 1859/1834 Sep 11 1845 1857 1865/1840 Dec 11 1873 1885 1896/1870 Mar 12 1895 1908 1916/1895 COFFEE (US$/tonne) Close Pev High/Low Jul 11 2423 2462 2460/2421 Sep 11 2471 2509 2506/2469 Nov 11 2497 2535 2529/2495 Jan 12
      82 words

  • 5399 28 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
    5,399 words
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  • Page 29 Advertisements
    • 64 29 A member of the A&G group Complete Air Sea Freight Services. Call: 6542 6020 Email: admin@agshipping.sg 20 Changi South St 1 (S)*****8. www.airngas.com Importers looking for Warehouse Can they find your services in the Shipping Times? FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can
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    • 3 29 TO ADVERTISE IN
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  • Page 30 Advertisements
    • 1169 30 !}`}!,.|=,?|<^+^&=.*':{+?-<'>/+ Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Platz der Republik, ***** Frankfurt am Main, Germany. www.dzbank.com Singapore Branch 50 Raffles Place, #43-01, Singapore Land Tower, Singapore *****3 Consolidated Balance Sheet Year ended 31 December in million 2010 2009 ASSETS Cash and cash equivalents 579 487 Loans and advances to banks 73,614
      1,169 words
    • 540 30 In the Matter of The Companies Act (Chapter 50) And In the Matter of BSK TECHNOLOGIES PTE LTD (In Creditors’ Voluntary Liquidation) Co. Reg. No. *****1400D NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the
      540 words
  • executive Money
    • 1068 30  -  Investment strategies are not panning out for three top US stock pickers, reports CHARLES STEIN Bloomberg [BOSTON] BRUCE Berkowitz, Kenneth Heebner and Bill Miller, three of the best-known US stock pickers, are competing for last place this year after their bets on an
      Bloomberg; BLOOMBERG PHOTOS  -  1,068 words
    • 1116 30 Bloomberg [NEW YORK] The US government debt most vulnerable to inflation is generating the best returns as the economic recovery slows and the rally in commodities cools. Demand for zero-coupon bonds is rising so fast that Wall Street banks created US$205.2
      Bloomberg  -  1,116 words
    • 847 31  -  A look beyond the need for trade finance and short-term foreign currency funding produces some interesting insights MONEY MATTERS PAUL DONOVAN The writer is the managing director and global economist at UBS Investment Bank TRADE protection is an ever present threat in the
      BLOOMBERG  -  847 words
    • 885 32  -  Equity markets are expected to end the year in positive territory but not before having to endure a bumpy ride. reports GENEVIEVE CUA RISK aversion has spiked, thanks to deepening concern over global growth. But some strategists are looking beyond the volatility and sniffing out
      AP  -  885 words

  • Page 31 Advertisements
    • 10 31 Beijing municipal govt steps up efforts tobanfurther property pricerise. Tosubscribe,call6388-3838orgotosphsubscription.com.sg
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