The Business Times, 9 August 2011

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Microfilm: NL31591
Total Pages: 51
1 16 The Business Times
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  • Title Section
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    17 1 THE BUSINESS TIMES www.businesstimes.com.sg AUGUST 9, 2011 S$1.00 MICA (P) 138/08/2010 S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION
    17 words
  • Article
    Lock icon STI stocks sink
    30 1 equities tip ANALYSTS advise caution favouring defensive and cash-rich stocks as markets combat the first credit downgrade of the US and fears of a double-dip recession. 2
    30 words
  • Article
    Lock icon Office landlords feeling jitters
    29 1 demand watch THERE is some concern in the market given the economic events playing out in the US and Europe, says Jones Lang LaSalle. 4
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  • Article
    Lock icon Tokyo changes food-scare tack
    34 1 fukushima fallout JAPANESE officials overseas have been told to stop claiming that the country’s food is safe following the discovery that radiationcontaminated beef was sold to consumers in Japan. 6
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  • Article
    Lock icon ECB bond lifeline stems the rot
    29 1 market stability THE European Central Bank began buying Italian and Spanish bonds to counter a market rout but roller coaster conditions persisted. 8
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  • Article, Illustration
    Lock icon Hope flickers briefly, but fear snuffs it out
    722 1  -  ECB intervention provides some respite, but jittery markets resume their slide By Conrad Tan conradt@sph.com.sg Singapore FINANCIAL markets across Asia reacted violently yesterday to thelossoftheUnitedStates’tri-ple-A credit rating, leaving policymakers scrambling to find ways to calm investors and to prevent another global financial
    Source: Bloomberg  -  722 words
  • Article
    Lock icon As storm rages, S’pore studies its impact
    605 1  -  It sticks to 5-6% growth estimate for now, but monitors fallout from turmoil By Anna Teo anna@sph.com.sg Singapore AS flagged by the Monetary Authority of Singapore (MAS) last month, the official forecast of Singapore’s 2011 growth has been revised down a notch to
    605 words
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  • TOP STORIES
    • Article
      Lock icon STI stocks sink, but buyers told to beware
      584 2  -  Analysts see possible downside risks ahead on weak sentiments, back defensive plays By Emilyn Yap emilyny@sph.com.sg Singapore TOBUY,ornot to buy– thatwas thequestion on the minds of bargain-hunters yesterday as several Straits Times Index (STI) constituents sank to new 52-week lows, appearing ripe
      584 words
    • Article
      Lock icon MARKETS
      138 2 H STI 2,884.00 (-110.78) H STI FUTURES 2,869 (-109) H SIMSCI 332.80 (-12.65) H SIMSCI FUTURES 333.50 (-10.40) STOCKS Friday Change KL COMP 1,496.99 -27.44 NIKKEI 225 9,097.56 -202.32 HANG SENG 20,490.57 -455.57 SET 1,078.19 -15.19 JAKARTA 3,850.27 -71.38 MANILA 4,331.24 -106.31 KOSPI 1,869.45 -74.30 SHENZHEN B 671.69 -40.11
      138 words
    • Article, Illustration
      Lock icon Office landlords watching economic developments closely
      624 4  -  Jones Lang LaSalle sees rental growth moderating in second half By Mindy Tan tanmindy@sph.com.sg Singapore WHILE landlords remain bullish particularly with regard to Grade A office rents, there is now some concern in the market given the economic events playing out in the US
      FILE PHOTO  -  624 words
    • Article, Illustration
      Lock icon Japan changes tack as food scare spreads to rice
      611 6  -  Foreign ministry tells officials overseas to stop claiming country’s food is safe By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE officials overseas have been told to stop claiming that the country's food is safe following the discovery that radiationcontaminated beef was sold to
      BLOOMBERG  -  611 words
    • Article
      Lock icon Global fund flows seen benefiting S’pore, M’sia
      583 6 Bloomberg Singapore SINGAPORE and Malaysia will be the main beneficiaries of inflows into the region as global funds step up diversification into non-US dollar assets after the United States lost its top credit rating, according to Macquarie Group Ltd. International investors will add
      Bloomberg  -  583 words
    • Article
      Lock icon ECB bond lifeline stems the rot, for now
      818 8  -  It has 300b euros left after yesterday’s purchases but traders say the central bank will have to raise the limit By Neil Behrmann bt wo rl d @s p h .co m .sg London THE European Central Bank (ECB) began buying Italian
      818 words
    • Article, Illustration
      Lock icon End of the road for Motorsports Hub?
      532 8  -  By Nisha Ramchandani nishar@sph.com.sg Singapore FOUNDATION specialist CSC Holdings’ wholly-owned subsidiary, CS Construction Geotechnic (CSCG), has officially terminated its contract with SG Changi, the consortium behind the beleaguered Changi Motorsports Hub project. CSCG landed the $50 million contract last October but halted piling
      FILE PHOTO  -  532 words
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      50 2 CONTENTS NEWS Top Stories 2-8 Companies 9-12 Singapore 13,14 World 15-18 Stocks Stats 19-23 Perspective 24-25 Shipping Schedule 26-28 Shipping 29 Aviation 30 Crosswords 30 N-DAY SPECIAL PM Lee’s Message S2 A Look Back in History S3 Then Now S4-12 Views from the Top S13-16 SME Inc 31-35 Property 36
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      206 3 PATEK PHILIPPE GENEVE Begin your own tradition. auf«—i, TEL *—h -C I -v 1 "It takes 1200 steps to produce the components of even our simplest selfwinding movement. As a family-owned watch company we can ensure that it never becomes ***** At Patek Philippe it takes more than 1200 steps
      206 words
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      138 5 THE STRAITS TIMES. APodA^k Print. j^LLWAf 4^ T\ Online. 1 r. H If* '1* Now, your favourite paper comes in a new App that brings you the full print edition* st Free Trial Valid from now till 7 Sept 2011 Download at App store now. >4^ UX iPad. Features include:
      138 words
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      128 7 The Sinaaoore Spirit In Full Bloom Bonding, unity and togetherness... the perfect elements for nurturing a nation As our country's 46 th chapter of independence comes to fruition, we pledge our dedication once again to help build a safe, caring and prosperous Singapore Here Is to more bouquets of success
      128 words
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  • COMPANY NEWS
    • Article
      Lock icon Yongnam Q2 profit up 13% at $15m
      350 9  -  By Mindy Tan tanmindy@sph.com.sg Singapore STEEL contractor Yongnam Holdings yesterday reported a net profit of $15.1 million for its second quarter ended June 30, up 12.9 per cent from $13.3 million a year ago, driven by higher contributions from the higher-margin specialist civil
      350 words
    • Article
      Lock icon Far East Group down on debut
      317 9  -  By Stephanie Riady sriady@sph.com.sg Singapore SHARES of Far East Group fell below their initial public offer (IPO) price in their trading debut yesterday, as stocks fell everywhere in the region. But like others, the stock clawed back earlier losses to finish its first day
      317 words
    • Article, Illustration
      Lock icon Ho Bee Q2 earnings slide 55.3% to $57.2m
      546 9  -  Revenue drops 42.5% to $157.6m due mainly to boost in previous comparable period from Turquoise condo at Sentosa Cove By Kalpana Rashiwala kalpana@sph.com.sg Singapore HO Bee Group has posted a 55.3 per cent year-on-year drop in group net profit for the second
      FILE PHOTO  -  546 words
    • Article, Illustration
      Lock icon Analysts cut calls for SMRT, SBS after fare hikes
      426 10  -  Revenue increases from hikes expected to be eroded by higher operating costs By Lynn Kan lynnkan@sph.com.sg Singapore PASSENGERS may be grumbling about the Public Transport Council’s decision to raise bus and train fares by one per cent, but investors may be
      FILE PHOTO  -  426 words
    • Article
      Lock icon ARA’s first-half net profit up 18% to $29.6m
      554 10  -  By Michelle Tan michtyz@sph.com.sg Singapore ARA Asset Management (ARA) has posted an 18 per cent rise year on year in its first-half net profit to S$29.6 million, on the back of broad-based growth across its revenue sources. The affiliate of the Cheung
      554 words
    • Business briefing
      • Article
        Lock icon Ezion bags US$55m logistics job in Australia
        61 10 EZION Holdings has been awarded a contract to provide full logistics and support services for the development of LNG facilities on Curtis Island, Australia. The initial project of US$55 million is expected to start in mid-2012. The contract is expected to have a
        61 words
      • Article
        Lock icon Sound Global Q2 profit jumps 47% to 110m yuan
        117 10 SOUND Global’s net profit for the second quarter ended June 30 is up 47.2 per cent from a year ago at 109.65 million yuan (S$20.8 million). Revenue grew 63 per cent to 670.23 million yuan, due mainly to contributions from a
        117 words
      • Article
        Lock icon UE E&C posts 14% rise in Q2 profit to $7.82m
        56 10 UE E&C Ltd has reported a 14 per cent rise in net profit for the second quarter to $7.82 million from a year ago. Revenue, however, fell 26 per cent to $68.48 million due to lower contributions from projects that
        56 words
      • Article
        Lock icon AP Oil reports $2.66m net earnings at half-time
        89 10 AP Oil International has posted a first-half net profit of $2.66 million, up 6 per cent from a year ago. Revenue, however, fell 19 per cent to $30.11 million due mainly to reduced trading activities to mitigate exposure to the uncertain market.
        89 words
    • Article, Illustration
      Lock icon Dollar-funding costs in Asia seen rising
      745 11 Analysts see the squeeze again intensifying calls for replacing the US$ as the global reserve currency Reuters Hong Kong/Singapore ASIA’S banks are seen facing a bump-up in dol-lar-funding costs and potentially slower credit growth after Standard Poor’s historic US debt rating downgrade, strengthening China’s
      Reuters; BLOOMBERG FILE PHOTO  -  745 words
    • Article
      Lock icon Negligible impact on our positions, says DBS
      182 11 Reuters Singapore DBS, South-east Asia’s biggest bank, says the impact of a US credit rating downgrade on its trading and investment positions is “immaterial” and that it is adequately positioned to meet liquidity needs. “Over the past few weeks, DBS has already taken
      Reuters  -  182 words
    • Article, Illustration
      Lock icon STI posts 2nd successive triple-digit loss
      543 12  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent AS ALWAYS, stock markets in this part of the world moved in advance of Wall Street yesterday, with the Straits Times Index (STI) suffering a second consecutive drubbing following Friday’s downgrade of US debt by ratings agency Standard
      543 words
    • Article
      Lock icon TOP 20 ACTIVES
      112 12 VOL CLOSE GentingSP 208,962 170 -8.0 -4.5 GoldenAgri 186,214 64 -3.5 -5.2 NobleGrp 58,707 153.5 -9.0 -5.5 SingTel 54,765 295 -11.0 -3.6 CoscoCorp 53,114 129.5 -6.5 -4.8 Centillion 48,846 0.2 0.0 0.0 CapitaLand 45,334 254 -13.0 -4.9 *GentingHK US$ 38,556 37.5 -3.0 -6.3 HPHTrust US$ 37,352 72
      112 words
    • Article
      Lock icon STI STOCKS
      112 12 Stock name Close Change CapMallsAsia 1.235 -0.045 CapitaLand 2.540 -0.130 CapitaMall 1.770 -0.070 CityDev 9.970 -0.120 ComfortDelGro 1.315 -0.045 DBS Grp 13.940 -0.590 F&N 5.470 -0.160 GLP 1.890 -0.040 Genting SP 1.700 -0.080 Golden Agri 0.640 -0.035 HK Land 6.200 -0.320 JMH 51.300 -1.910 JSH 29.600 -0.600 Jardine
      112 words
    • Article
      Lock icon Fund’s moves ahead of US rating cut pays off
      486 12 Bloomberg Tokyo R-SQUARED, a US$220 million Japan-focused hedge fund, bought put options and credit default swap indexes and sold cash bonds in anticipation of a US sov-ereign-rating downgrade, said Tan Maruyama, the fund’s manager. The hedge fund, run by Singa-pore-based MAM
      Bloomberg  -  486 words
    • Article
      Lock icon TOP GAINERS
      62 12 BY CENTS CLOSE UP GLD 10US$ ***** 441.8 2.2 DBXT iBoxxSing 5SG$ ***** 294.0 2.4 DBXT S&P Short 10US$ 4684 85.0 1.5 DBXT E50 10US$ 3788 75.2 1.7 SIMSCI335MBePW*****0 33.5 22.9 216.0 DBXT STGLDv100 10US$ 2632 21.8 0.7 GentingSMBLePW*****6 57 18.5 48.1 STI 3150 DBePW*****1 55.5 18.0 48.0
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    • Article
      Lock icon TOP LOSERS
      65 12 BY CENTS CLOSEDOWN DBXT MSJap 10US$ 3707 -268.2 -5.6 DBXT MSKorea 10US$ 5510 -253.6 -3.7 UOB 5.05%NCPS 100 ***** -232.0 -2.2 JMH 5130 -231.8 -3.6 IS DJ US Tech 5957 -229.4 -3.1 DBXT AUDMM 5SG$ ***** -206.0 -0.8 OCBC Bk 5.1%NCPS 100 ***** -190.0 -1.8 DBXT Nifty 10US$
      65 words
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      Lock icon Page 9 Advertisements Column 1
      28 9 REVITALIZE Sleep On Waveless Waterbeds German Ingenuity That Heals While You Sleep EverRest FANTASY WATERBEDS SLEEP CENTRE #01-15/16 The Furniture Mall (The Plaza) 7500D Beach Road Tel: 6469-1381
      28 words
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      27 11 Call Ms Seren'el61GXD.Q08Q THE LEADING'BUNGALOW, SPECIALIST r (SlunyiiQO.0.0 Th i rd 'AveTiqqoc piancery Vicinity 'L: ***** B:9000 Asking: $2xm n ***** k 8ooo^ask$28.8M =<§nte(S££dagsg3//@ife3 gss®eECso^3^M s&ssJjEsssEECJeeaQM) te0Mbag@5®//^s®gE&CE©SKl
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Why Asian economies won’t be hit so badly
      740 13  -  While the US lacks policy options and Europe dithers, Asia has an abundance of remedial policy tools By Teh Shi Ning tshining@sph.com.sg THE historic US credit downgrade may have sent stock markets crashing, but the economic repercussions for Asia may not be
      YEN MENG JIIN  -  740 words
    • Article
      Lock icon 3-dimensional modelling tech catching on here
      351 13  -  BCA says adoption of BIM in the construction industry has hit 20-25%, up from 10% in 2008 By Emilyn Yap emilyny@sph.com.sg AN estimated 20-25 per cent of the construction industry has adopted a new three-dimensional modelling technology called BIM, up from slightly less than
      351 words
    • Article
      Lock icon Carry on boosting PMETs’ productivity: Tharman
      345 14  -  Every job can be improved to raise incomes; future growth must be driven by productivity rather than ever increasing labour supply By Teh Shi Ning tshining@sph.com.sg EFFORTS to raise the productivity of professionals, managers, executives and technicians (PMETs) have seen success stories and must
      345 words
    • Article
      Lock icon Pay cut for most rehired teachers is 18%, not 30%
      338 14  -  MOE clarifies change in policy for re-employment of retired teachers B y Dickson Li dicksonl@sph.com.sg MOST retiring teachers who are being re-employed will have their salaries cut by around 18 per cent and not 30 per cent, to align them
      338 words
    • Article
      Lock icon MOF unit saves $1.26m in premiums for govt travellers
      269 14  -  By MICHELLE YEO yeomich@sph.com.sg VITAL, a shared-services department under the Ministry of Finance (MOF), has managed to save the government over $1.26 million in total (about 78 per cent in travel insurance premiums) from its travel insurance programme. Launched three years
      269 words
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      Lock icon Page 14 Advertisements Column 1
      75 14 SINGAPORE'S PREMIER HOME-GROWN CAR MAGAZINE SURANCE FIRMS ARE ONTO YO 1 I I A PEUGEOT 508 vs CITROEN C5 vs VOLVO S60 X wo DRIVES > VOLKSWAGEN JETTA > HYUNDAI ELANTRA> MASERATIGRANTURISMO MC STRADALE > PORSCHE CAYMAN R > AUDI A1185BH P > UPDATED LEXUS IS F > MODIFIED 911
      75 words
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      Lock icon Page 14 Advertisements Column 2
      19 14 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices MATS NOTICES
      19 words
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  • WORLD
    • Article, Illustration
      Lock icon Gold tops US$1,700 an ounce for first time
      653 15 The metal may advance as investors seek bullion over US Treasuries; Goldman raises forecasts for gold futures Reuters Reuters London GOLD climbed to more than US$1,700 an ounce for the first time after Standard Poor’s cut the top US credit rating, fuelling
      Reuters; REUTERS  -  653 words
    • Article
      Lock icon AIG sues BoA over US$10b of mortgage debt losses
      210 15 Reuters New York THE insurer American International Group Inc is suing Bank of America Corp to recover more than US$10 billion of losses from a “massive fraud” on mortgage debt, deepening the morass of litigation faced by the largest US bank.
      Reuters  -  210 words
    • Article
      Lock icon Dubai govt conglomerate vows to repay US$4b in debt
      418 15 Investment Corporation of Dubai’s surprise decision signals rising confidence in city-state AP Dubai A DUBAI government conglomerate that controls some of the emirate’s industrial powerhouses will repay in full US$4 billion worth of debt coming due this month, the city-state vowed
      AP  -  418 words
    • Article, Illustration
      Lock icon Asia braces for surge in capital inflows, currency inflation
      554 16 Nations from Japan to the Philippines are pledging to stem excessive forex moves Bloomberg Singapore ASIA’S policy makers braced for a surge in capital flows that threaten to push up currencies and hurt exports after the US sov-ereign-rating downgrade, with nations
      Bloomberg; REUTERS  -  554 words
    • Article
      Lock icon Flood of money a worry for US banks
      489 16 Deposits are going up but slowing economy has dampened demand for loans Bloomberg New York THE European debt crisis is poised to flood US banks with something they don’t want and can’t use: more money. Cash held by US banks surged 8.4
      Bloomberg  -  489 words
    • Article
      Lock icon Bank payrolls shrinking at quickest rate since 2008
      209 16 Bloomberg New York THE biggest global banks are cutting jobs at the fastest rate since 2008 as a weak US economy squeezes revenue, regulators push firms to hold more capital and companies restructure businesses to improve profitability. The 50 largest banks, including
      Bloomberg  -  209 words
    • Article, Illustration
      Lock icon France vulnerable to downgrade: investors
      392 17 Bloomberg Paris THE decision by Standard Poor’stodowngradetheUScredit rating leaves France as the AAA country most likely to lose its top grade, some investors and economists say. Currently, France is more expensive to insure against default than lower-rated governments including Malaysia, Thailand, Japan, Mexico, Czech Republic,
      Bloomberg  -  392 words
    • Article
      Lock icon S&P-induced selloff of US Treasuries could be short-lived: analysts
      592 17 Bond investors likely to retain holdings as few alternatives seen to world’s most liquid market Bloomberg New York ANY selloff in Treasuries following Standard Poor’s (S&P) first ever downgrade of the US credit rating from AAA is likely to be short-lived
      Bloomberg  -  592 words
    • Article
      Lock icon China masks unease over policies by flaying US
      503 17 Officials, economists fed up with voluntary shackles to the USD Reuters Beijing CHINESE editorials flaying Washington for fiscal recklessness over its debt dramatics and downgrade mask a growing unease in Beijing: a fear that China’s own economic policies are shifting too slowly.
      Reuters  -  503 words
    • Article
      Lock icon It may be worse this time round for the US
      596 18 The economic pain could be much greater and there would be few policy remedies if America slips back into recession NYT New York IF THE US economy falls back into recession, as many economists are now warning, the bloodletting could
      NYT  -  596 words
    • Article, Illustration
      Lock icon Geithner tells Obama he will stay on as Treasury Secretary
      558 18 Move allows US govt to maintain continuity in economic policy Bloomberg Washington TIMOTHY Geithner has decided to stay on as US Treasury Secretary, a move which allows the Obama administration to maintain continuity in economic policy amid investor concern that
      Bloomberg; AFP  -  558 words
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      45 18 paramore LIVE IN SINGAPORE 2011 f 4 J v 21 August 2011 at 8pm SINGAPORE INDOOR STADIUM WIN EXCLUSIVE TICKETS ON 91.3FM TUNE IN TO 91.3FM OR LOG ONTO WWW.RADI0913.COM FOR MORE DETAILS OFFICIAL RADIO STATION Presented by Midas Promotions www.midaspromotions.com 91.3FM TODAY'S BEST MUSK
      45 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      10331 22 Transaction date: Aug 8 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 13.2 8Telecom 14.8 10 15.5 7.8 4.1 3.1 70.9 12 4.5 A-Sonic 5.8 -0.4 504 6.2 5.5 5.6 5.8 2.2
      10,331 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 22 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 14 0 0 0 0 2 14 0 Manufacturing 18 155 12 5 19 3 23 174 15 Commerce 4 53 11 0 8 2 4 61 13 Tpt/Stor/Comms 3 41 3
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      840 22 For week beginning Aug 1 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) CMZ Hldgs Ltd 4-Aug-11 Shao Kesheng *Buy 1507 0.19 *****8 64.98 *****5 65.49 MDR Ltd 3-Aug-11 Mah
      840 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 22 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 59,156 59,156 241,600 241,600 Manufacturing 400,547 61,028 461,575 401,046 1,487 402,533 Commerce 171,425 13,645 185,070 212,860 1,755 214,614 Tpt/Stor/Comms 298,643 12,266 310,909 469,292 2,013 471,305 Finance 51,486 869 52,355 480,274 161 480,434 Construction 85,546 40,998
      123 words
    • Article
      Lock icon OIL
      75 23 Aug 5 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 107.58 -3.22 WTI (Near Mth) 87.05 0.25 Dubai (1-Mth F) 103.75 -3.74 Tapis blend 113.27 -4.41 Minas 109.27 -4.41 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.50 -6.78 Jet Kerosene 122.55 -5.30 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 23 Aug 08 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.306 1.233 Can dollar 1.259 1.211 Euro 1.77 1.702 Sterling pound 2.03 1.952 NZ dollar 1.043 0.994 US dollar 1.23 1.183 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • Article
      Lock icon METALS
      67 23 Aug 8 GOLD (US$/oz) Aug 08 Aug 05 Hong Kong 1707.*****7.50 Aug 05 Aug 04 London 1662.*****8.03 1663.*****8.87 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 49.25 48.84 Source: UOB PLATINUM Lon (US$/oz) Aug 05 Close Previous PM Fix 1709.*****3.00 AM Fix 1700.*****7.00 Source: Thomson Reuters PLATINUM NYMEX
      67 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      83 23 Aug 8 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 10.11.2011 0.20 0.16 0.16 1-Year BY*****X 02.05.2012 0.22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.91 103.97 103.97 5-Year N*****0W 1.125 01.04.2016 102.61
      83 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 23 Aug 8 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2587 1.2600 1.0372 1.0374 Canadian dollar 1.2362 1.2381 1.0186 1.0194 Euro 1.7405 1.7425 1.4342 1.4346 NZ dollar 1.0074 1.0088 0.8301 0.8306 Sterling pound 1.9918 1.9938 1.6412 1.6415
      154 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      59 23 As on 5 August 2011 www.smx.com.sg For membership please contact: Ivan Han, DID +65 9098 8455 membership@smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE CURRENCY Euro-US Dollar Sep-11 1.4154 1.4074 1.4089 1.413 Euro-US Dollar Cash Sep-11 1.4219 1.4061 1.4167 1.4146 Aust-US Dollar Sep-11 1.0431 1.038 1.0419 1.0517
      59 words
    • Article, Illustration
      Lock icon STOCK MARKETS
      89 23 YTD change: -9.59% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,847.00 on Aug 8,2011 Source: Bloomberg YTD change:-10.02% 52-week high: 3,186.72 on Nov 11,2010 52-week low: 2,497.92 on Aug 8,2011 Source: Bloomberg YTD change:-11.05% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 20,044.30 on Aug 8,2011 Source:
      Source: Bloomberg  -  89 words
    • Article
      Lock icon LIFFE
      82 23 Aug 5 COCOA (£/tonne) Close Prev High/Low Sep 11 1852 1833 1901/1822 Dec 11 1881 1864 1921/1853 Mar 12 1900 1883 1937/1873 May 12 1909 1896 1919/1885 COFFEE (US$/tonne) Close Pev High/Low Sep 11 2062 2045 2105/2035 Nov 11 2095 2076 2138/2070 Jan 12 2117 2097 2160/2090 Mar 12
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    • Article
      Lock icon PALM OIL
      65 23 Aug 8 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 11 3133 3120 3133 3120 109 2480 Sep 11 3052 3036 3074 3036 2827 ***** Oct 11 3034 2994 3046 2994 ***** ***** Nov 11 3023 2980
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    • Article
      Lock icon CHICAGO BOT
      93 23 Aug 5 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 11 1331.*****9.*****0.*****6.00 Sep 11 1328.*****6.*****6.*****3.50 Nov 11 1336.*****5.*****5.*****1.00 Jan 12 1347.*****6.*****5.*****2.25 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Aug 11 54.90 55.18 55.14 54.00 Sep 11 55.00 55.29 55.37 54.08 Oct 11 55.17 55.48 55.55
      93 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      374 23 In local curr In S$ In US$ dy yr dy yr dy yr Aug 5 Index Change Change Change Change Change Change World Index Preliminary 810.8 -1.9 -9.7 -1.7 -11.9 -1.8 -7.3 ‡EAFE Preliminary 691.6 -2.5 -13.7 -2.1 -13.2 -2.2 -8.7 Europe Preliminary 997.8 -1.9
      374 words
    • Article
      Lock icon LONDON METALS
      71 23 Aug 5 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2373.25 2447.25 3 months 2402.00 2476.00 Copper, Grade A (US$/tonne) Cash 9016.50 9329.50 3 months 9041.00 9355.00 Lead (US$/tonne) Cash 2356.00 2475.25 3 months 2361.00 2490.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Betting on Europe
      1048 24/25  -  The group CIO of Allianz Investment Management, one of Europe’s largest investors, explains why he is still bullish on the eurozone. By Vikram Khanna By Vikram Khanna NIKHIL Srinivasa n M u nich-based group chief investment officer of Allianz Investment Management, one of Europe’slargest investors,says heisstillbullish on
      BLOOMBERG  -  1,048 words
    • Article
      Lock icon Keeping abreast of China’s changing financial landscape
      794 24/25  -  By Peter Wong ~Peter Wong is chief executive of The Hongkong Shanghai Banking Corp and chairman of HSBC Bank (China) AS IS clear to anyone who lives in, visits or reads about China, the pace of economic and social change in this vast
      794 words
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  • SHIPPING
    • Article
      Lock icon SHIPPING TIMES
      2945 26 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination JIMFLUSH Muscat/Sharjah/Doha *Loads
      2,945 words
    • Article
      Lock icon Capesize rents could rise 15% in Q3: consultancy
      540 29 Reduced vessel speeds and Brazil’s stronger iron-ore exports set to lift charter rates Bloomberg London HIRE costs for capesize vessels that haul dry bulk commodities could see a 15 per cent rise within the quarter, said Maritime Strategies International Ltd, after rounding
      Bloomberg  -  540 words
    • Article
      Lock icon TRANSPORT ST0CKS
      278 29 Source: Thomson Reuters SGX '000 Aug 8 S$ +/-Vol CH Offshore 0.38 -0.03 222 Chuan Hup Hldg 0.24 -0.02 1266 Cosco Corp 1.30 -0.07 ***** CWT Ltd 1.16 -0.08 2643 Ezra Hldgs 1.03 -0.08 ***** First Ship Lea 0.33 -0.02 2305 Freight Links 0.06 -0.01 4229 Grand Banks
      Source: Thomson Reuters  -  278 words
    • Article, Illustration
      Lock icon Kuwait firm on new port
      386 29 Iraqi militant threats won’t work, it says AFP Kuwait City KUWAIT has responded to threats by Iraqi militants by saying they will not deter the oil-rich emirate from completing the construction of a controversial megaport between the two nations. “We are not scared by threats
      AFP  -  386 words
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      23 27 Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT *****327, THEBUSINESSTIMES PLACE YOUR AD HERE THE BUSINESS TIMES SHIPPING TIMES
      23 words
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      27 28 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327. THE BUSINESS TIMES SHIPPING TIMES
      27 words
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  • AVIATION
    • Article, Illustration
      Lock icon JAL eyes Air France tie-up
      544 30 It’s mulling venture with BA, may also boost cooperation with other Oneworld members Bloomberg Tokyo JAPAN Airlines Co, considering forming a venture on European routes with British Airways, may also seek a similar tie-up with Air France to bolster operations on the continent. “Our alliance
      Bloomberg  -  544 words
    • Article
      Lock icon German air control union calls for strike
      465 30 It is seeking pay rise; and this is its 2nd strike call Reuters Frankfurt THE union of German air traffic controllers yesterday made a second attempt to call a strike during the busy summer holiday season. The GdF union of employees at the
      Reuters  -  465 words
  • Page 30 Miscellaneous
    • Miscellaneous
      Lock icon Page 30 Miscellaneous Column 1
      324 30 CRYPTIC CROSSWORD Across 1 Bug found in metal perch? (10) 6 Cut back before hardship finally becomes a potential source of pain (4) 9 Man eating tail of marine carnivore (5) 10 Soft rock offering Coronation Street’s sound quality? (9) 12 Chap at devotions worrying it’s a kind of bug
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  • SME INC
    • Article, Illustration
      Lock icon Riding the ICT wave beyond local shores
      1007 31  -  ACP is eyeing China and India, where the number of schools can exceed a million. By Jaslene Pang btnews@sph.com.sg WITH the advent of Next Generation Broadband and an onslaught of increased availability tablets and smartphones, business possibilities in the Information and Communication Technologies
      ARTHUR LEE  -  1,007 words
    • Article
      Lock icon A helpline for SMEs to claim tax benefits
      813 32  -  IRAS and Spring have lined up more clinics to explain the scheme to SMEs. productivity and innovation credit By Chen Huifen xuifen@sph.com.sg EVEN as the Inland Revenue Authority of Singapore (IRAS) is starting to see streams of tax deduction claims under the
      813 words
    • Article, Illustration
      Lock icon Benefiting from govt’s productivity scheme
      415 32  -  By Chen Huifen xuifen@sph.com.sg THE company had shelled out $74,900 to replace an old photo printing machine to save on maintenance, but to Exquisite Color Centre partner Ng Siew Tin’s delight, this made the company eligible for a cash payout. “Therearealways newadvances inmachines, but it
      YEN MENG JIIN  -  415 words
    • Article, Illustration
      Lock icon Get a retirement coach, and a Plan B
      1592 33  -  commentary By Paul Heng btnews@sph.com.sg ~The writer is founder/executive coach at NeXT Corporate Coaching Services IWAS much delighted when my eyes caught sight of a headline in a recent issue of Fortune magazine “Why you need a retirement coach?” I told myself
      1,592 words
    • Article
      Lock icon Create your own market identity
      465 34 ask nus profs Q: While doing a preliminary study of an export market in North-east Asia, we found that a company with a similarsounding name as ours is already selling a customer product in the same genre, albeit of a lower quality, as our firm.
      465 words
    • Article, Illustration
      Lock icon Moving heavyweights
      1075 34  -  Bok Seng Logistics, a logistics solution provider, is often responsible for every step from port to site. By Hebert Cundra, Koh Wan Ling and Yeo Wei Jian By Hebert Cundra, Koh Wan Ling, Yeo Wei Jian btnews@sph.com.sg JUST about two years ago, a moment in history was made
      FILE PHOTO  -  1,075 words
    • Article, Illustration
      Lock icon Ready to spread its wings
      934 35  -  ATT Systems, having proven itself at home, is all set now to expand into the region. By Hebert Cundra, Koh Wan Ling and Yeo Wei Jian By Hebert Cundra, Koh Wan Ling, Yeo Wei Jian btnews@sph.com.sg ~The writers are students at NUS Business School IT
      ARTHUR LEE  -  934 words
    • Article
      Lock icon China Merchant the only gainer in portfolio
      478 35  -  By Teh Hooi Ling hooiling@sph.com.sg IT was a carnage. A rush for the exit all at the same time after investors refocused their attention on economic fundamentals following the raising of the debt ceiling in the US. They didn’t like what they saw.
      478 words
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      75 34 Celebrating Singapore´s Enterprising Spirit 2011 This series is part of the Enterprise 50 Educational Project between the E50 partners and the NUS Business School. Bok Seng Logistics and ATT Systems were among the E50 winners in 2010. The annual E50 ranking is co-organised by The Business Times and KPMG, sponsored
      75 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Buyer caution setting in at showflats?
      859 36  -  The rate at which units are finding owners seems to have slowed even though the crowd remains big By Kalpana Rashiwala INTEREST in Singapore residential property remains strong but initial signs of greater caution following the stockmarket rout may have started to surface. Boathouse
      859 words
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      44 1 National Day SpecialTHEBUSINESSTIMES|AUGUST9,2011 BT THE BUSINESS TIMES AUGUST 9, 2011 SINGAPORE’S JOURNEY OVER 46 ST FILE PHOTO PM Lee Kuan Yew’s National Day Message, 1966 S3 PM Lee Hsien Loong’s National Day Message, 2011 S2 Views from the Top S13-16 Then and Now S4-12
      44 words
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  • BT National Day Special
    • Article, Illustration
      Lock icon A new defining moment
      1192 2 The following is Prime Minister Lee Hsien Loong’s National Day Message THE Singapore economy is consolidating its recovery from the 2008 global economic crisis. GDP grew 4.9 per cent in the first half of 2011, while unemployment remains low at 2.1 per cent. Despite some risks
      FILE PHOTO  -  1,192 words
    • Article, Illustration
      Lock icon A look back in history
      710 3 The following are excerpts from the address by Prime Minister Lee Kuan Yew on the eve of National Day, 1966 GOOD evening. Tomorrow, we begin our second year on our own. The first year has been valuable experience of what we can do to thrive
      710 words
    • National Day 2011
      • Article
        Lock icon 46 years of Singapore two moments in time
        425 4  -  A lot has happened in 46 years, but even more has stayed the same. To be sure, Singapore is unrecognisable today, from the time its denizens found themselves thrust virtually overnight into the world as Singaporeans, no more and no less. Since
        425 words
      • Article, Illustration
        Lock icon HOUSING
        128 4 Putting the ‘con’ in ‘condo’ The luxury property market might be humming along now, but it was at a standstill in 1965. Then, hundreds of luxury flats stood empty as the confrontation with Indonesia and bomb explosions dampened the home-owning mood. But in July this year, buyers pushed prices
        128 words
      • Article, Illustration
        Lock icon PUBLIC SERVICES
        129 6 Police Chew Kim Lin, 24, described as the “most wanted criminal in Singapore and Malaya whose daring defeats the imagination” was given the maximum sentence of seven years’ jail on each of the 25 charges of housebreaking involving $113,457 in cash and property. He was also jailed a
        photo: st; photo: shin min  -  129 words
      • Article, Illustration
        Lock icon ECONOMY & TRADE
        62 6 ECONOMY TRADE ludwig ilio GDP $2.98 billion (at current market prices) GDP per capita $1,580.00 $303.6 billion $59,813 (at current market prices) Imports: about $3.8 billion Trade Exports: about $3 billion Imports: about $423.2 billion Exports: about $478.8 billion Foreign reserves $914.7 million Total number of banks About $288.9 billion
        ludwig ilio  -  62 words
      • Article, Illustration
        Lock icon TRANSPORT
        290 7 Best-selling car A BrAKEThrough The Ford Cortina was crowned the best-selling car in Malaysia in Feb 1965, with 1,790 sold in 1964 alone. It boasted a revolutionary feature front-disc brakes, which are universal today. Anyone who bought last year’s best-selling model the Mercedes E-Class that sold 1,991 units among
        fiLePhoTo; PhoTo: sT; PhoTo: caPiTacommerciaL TrUsT  -  290 words
      • Article
        Lock icon POPULATION
        54 8 1965 PRESENT POPULATION Number Land size 1,886,900 5,076,700 581.45 square km (224.5 square miles) 3,245 per square km 8,405 per square mile) Density 712.4 square km 1,176 new immigrants were issued with entry permits for permanent residence Immigration 7,126 per square km 29,265 number of permanent residence passes granted
        54 words
      • Article, Illustration
        Lock icon SOCIAL & HEALTH
        199 8 SOCIAL HEALTH Tying The knoT While the number of divorces in 1965 was not available, about as many people were getting divorced last year as there were getting married in 1965. They ragging did iT If there had been YouTube in 1965, this neck-tie pulling ragging of a freshie at
        PHOTO: ST; SOURCE: TRINETTACHONG  -  199 words
      • Article, Illustration
        Lock icon TRAVEL & ENTERTAINMENT
        459 9  - TRAVEL ENTERTAINMENT TEXT AND CONCEPT JOYCE HOOI Orchard Road Airport Tourism slogan From orient express to AmericAn express Aileen Yap, 24, had a mouthful to commit to memory when she was crowned Miss Tourism Singapura in 1965. The Tourist Promotion Board’s motto for Tourist Week in 1965 had been: “You
        PHOTO: ST; FILE PHOTO; SOURCE: MARINA BAY SANDS; FILEPHOTO; PHOTO: BT; PHOtO: iNtERNEt; ARTWORK LUDWIG ILIO; PHOtO: St  -  459 words
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      92 3 A Bank of India (Relationship beyond banking Cele6rating 60 years of service in Singapore <Best wisHes on the 46th ffationaC(Day e. -r I »r£ "1 f i. Mljlf rn ft... at v ,:•>>* .v-'iV'.-"" Immediate remittance facility to any Bank in India available at: Main Branch 138 Robinson Road #01-01,
      92 words
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      95 5 A NATIONAL DAY HAPPY BIRTHDAY SINGAPORE Celebrating 46 years of independence and still growing strong, Singapore is ever moving forward with fortitude and dynamism. We, at Global Orion Properties, bears witness to the continuous successes of Singapore and applaud the spirit of Singapore to reach greater heights. Let us come
      95 words
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon Many happy returns, Singapore!
      4605 13 this week’s topic As Singapore celebrates National Day, what do you wish for the nation and its people? Seah Kian Peng CEO (Singapore) NTUC FairPrice Co-operative Ltd MY wish as CEO of NTUC FairPrice is to see our nation move forward and strive to be one
      FILE PHOTO  -  4,605 words
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