The Business Times, 3 December 2011

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Microfilm: NL31729
Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg DECEMBER 3-4, 2011 S$1.00 MICA (P) 121/08/2011
    12 words
  • Article
    Lock icon Take days off with no pay
    29 1 Singapore companies may have to revisit this idea if a serious economic downturn takes hold. Already, one company is doing it. Page 6
    29 words
  • Article
    Lock icon FACTORY ACTION
    30 1 Strike hits S’pore plant in Shanghai MORE than 200 workers continue their strike for a third day after Singapore-owned electronics company Hi-P international decided to relocate production. 2
    30 words
  • Article
    Lock icon EURO SOLUTION
    32 1 Crisis fix will take years: Merkel THE German Chancellor flatly rejects any quick-fix ideas, telling lawmakers that treaty changes and a stricter fiscal union were the only path forward. 6
    32 words
  • Article
    Lock icon JAPAN REVIVAL
    26 1 Tokyo to boost economy MINISTER of Economy, Trade and Industry Yukio Edano promises that the economic plan would also help restore international competitiveness. 8
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  • Article
    Lock icon MARKET FALLOUT
    30 1 Eurozone woes hit securities trade THE securities daily average value last month stood at $1.21 billion, down 12.3 per cent from the $1.38 billion registered in October. 14
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  • Article
    Lock icon Wall Street counts its blessings
    723 1 US jobless rate falls to 30-month low in November, non-farm payrolls up 120,000 Reuters AFP Washington THEY might not be as good as the market expects but yesterday’s US job numbers looked good enough for a struggling economy. The US Labor Department said non-farm payrolls
    Reuters; AFP  -  723 words
  • Article, Illustration
    Lock icon Standup meets button-down crowd
    704 1  -  By Joyce Hooi joyceh@sph.com.sg Singapore YORAM Bauman might not know it, but he managed to prove his own economics principles in Singapore on Thursday night. The gangly Seattle-based standup economist (and humorist), famous for his parody of Mankiw’s 10 Principles of Economics, simplifies two of these
    704 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Strike hits Singapore plant in Shanghai
      626 2  -  Hi-P Int’l says strikers are just 5% of workers affected by relocation due to expiring lease By Uma Shankari shankari@sph.com.sg Singapore MORE than 200 workers at a Sin-gapore-owned electronics plant in Shanghai remained on strike for a third day yesterday in one of the
      REUTERS  -  626 words
    • Article
      Lock icon MARKETS
      140 2 G STI 2,773.36 (+11.48) G STI FUTURES 2,765 (+12) G SIMSCI 317.18 (+2.47) G SIMSCI FUTURES 315.90 (+2.00) STOCKS Friday Change KL COMP 1,489.02 +3.76 NIKKEI 225 8,643.75 +46.37 HANG SENG 19,040.39 +38.13 SET 1,029.37 +10.22 JAKARTA 3,779.84 -1.26 MANILA 4,290.92 +0.33 KOSPI 1,916.04 -0.14 SHENZHEN B 579.08 -5.83
      140 words
    • Article, Illustration
      Lock icon Telcos and the BPL’s moving goalposts
      736 4  -  commentary Joyce Hooi Reporter joyceh@sph.com.sg THE next cycle of bidding for the Barclays Premier League will be for the *****016 period. That is some ways off, which is a good thing. Analysts will need all the time they get to figure out who needs
      AP  -  736 words
    • Article
      Lock icon KPMG shows the way with a day’s unpaid leave each month
      414 6  -  Company takes pre-emptive action to manage costs as global economic clouds gather By Teh Shi Ning tshining@sph.com.sg Singapore AS companies brace themselves for an imminent economic downturn, KPMG has become one of the first to take pre-emp-tive action to
      414 words
    • Article, Illustration
      Lock icon Financial crisis solution will take years: Merkel
      702 6 AP Bloomberg Berlin GERMAN Chancellor Angela Merkel flatly rejected any quick-fix ideas to try to resolve the European financial crisis, telling lawmakers yesterday that treaty changes and a stricter fiscal union were the only path forward a process that could take years. Speaking
      AP; Bloomberg  -  702 words
    • Article, Illustration
      Lock icon Tokyo to be proactive in boosting economy
      551 8  -  New framework to make Japan ‘model of a post-industrial society’ By Anthony Rowley bt wo rl d @s p h .co m .sg Tokyo THE Japanese government is planning to come up with a “new framework” that will enable the nation’s economy to
      551 words
    • Article
      Lock icon Groupon being probed in UK over ad practices
      386 8 Bloomberg AP AFP Reuters London GROUPON Inc, the largest Internet daily-deal site, is being investigated by Britain’s competition regulator over concerns including unfair promotions and exaggerated savings. The UK Office of Fair Trading (OFT) has been investigating Groupon’s British unit since July
      Bloomberg; AP; AFP; Reuters  -  386 words
    • Article
      Lock icon S&P downgrades Australia’s 4 largest banks
      629 8 Bloomberg Sydney COMMONWEALTH Bank of Australia, the nation’s largest lender, and its three biggest rivals were downgraded by Standard Poor’s (S&P) as the ratings company applied its revised criteria to Asia-Pacific financial institutions. Commonwealth, Westpac Banking Corp, Australia New Zealand Banking Group Ltd and
      Bloomberg  -  629 words
    • Article
      Lock icon Thailand to issue passport for Thaksin soon
      412 9 Government announcement angers controversial ex-leader’s opponents AFP Bangkok THAILAND will issue a passport for its fugitive former prime minister Thaksin Shinawatra “very soon”, his sister’s government said yesterday, angering the controversial ex-leader’s opponents. Thaksin, who remains a hugely divisive figure, was deposed by
      AFP  -  412 words
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      59 2 CONTENTS LIVING Dining L2-4, 6 Style L8-11 NEWS Top Stories 2-9 Raffles Conversation 10-11 Week in Review 12 Companies 13-16 From The Desk Of 17 Singapore 18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 Real Estate 35 Home Garden L12-13 Gadgets
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      108 3 CORUM LA CHAUX-DE-FONDS SUISSE C M V 1 X 1 Yi 3f y TITANIUM BRIDGE T0URBILL0N Watch with tourbillon escapement, grade 5 titanium case. Sapphire crystal back. CORUM superlight Arcap baguette-shaped movement (12,8 gr). CORTINA WATCH ESPACE Millenia Walk Tel: 6339 1728 Marina Bay Sands Tel: 6688 7357 CORTINA WATCH
      108 words
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      14 4 4 THIS MONDAY RCB Reg No: *****0202G For details, visit www.singaporepools.com.sg Purpose and Benefit
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      105 4 SINGAPORE —SWEEP— 1 ST PRIZE $2,200,000 SUPER SWEEP SNOWBALLED TO 5D CASCADE PRIZES (100 PRIZES OF $10,000 EACH) $800,000 $1,000,000 m This Draw V V 0" l *A Match the first 5-digit to win the Cascade Prize I WM SINGAPORE -SWEEP- Draw No. 12/2011 $3 1st Prize $2.2 Million 2nd
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      369 5 NOVENA Specialist Center l n* i m Li -csI r V J a I I p -V3 LA IK A OPEN HOUSE Premier Medical Suites in a World Class Healthcare Hub MIPIM Asia Awards 2011 Best Mixed-use Buildings (Bronze) Novena Lifestyle and Medical Hub Easy Accessibility. Enhanced Connectivity. Novena Specialist
      369 words
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      117 7 Our motor insurance comes with a free Rider. The Orange Force Accident Response Team. When an accident happens, help is what you need most. Which is why our motor insurance comes with the Orange Force Accident Response Team. No matter when or where an accident happens, an Orange Force Rider
      117 words
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      Lock icon Page 9 Advertisements Column 1
      38 9 MATTRESSSAGGING? SLEEP ON WATER! Most spring mattresses will sag, but a waterbed won’t. It just helps you achieve the best possible sleep. FANTASY WATERBEDS SLEEP CENTRE #01-15/16 The Furniture Mall (The Plaza) 7500D Beach Road Tel: 6469-1381 www.fantasywaterbeds.com
      38 words
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      Lock icon Page 9 Advertisements Column 2
      18 9 PromotionPeriod:Saturday,December 3 toSunday,December18,2011 35%offtotalalacarte foodandbeveragebillatMinJiang@One-North (No.5RochesterPark) SavouranauthenticOrientalfine-diningexperienceat MinJiang@One-North.PartofGoodwoodParkHotel'sgroupoffine-dining restaurants,MinJiang@One-NorthcelebratesTheBusinessTimes'35thanniversary withanirresistible35%discountonyourtotalalacartefoodandbeveragebill. Address:MinJiang@One-North,5RochesterPark,NorthBuonaVistaRoad,Singapore*****6 THEBUSINESSTIMES Notvalidwithotherpromotionsordiscounts.Forreservations, pleasecallMinJiang@One-Northat*****122. th Toenjoythisoffer,pleasepresentthisadtotherestaurant Anniversary Diningdeals
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon All about family The whys and hows of the existence and continuity of family businesses and
      2140 10/11  -  The whys and hows of the existence and continuity of family businesses and all their intricacies are among the passions of Lombard Odier Cie’s Thierry Lombard.By Lombard.By Genevieve Cua gen@sph.com.sg THERE are family businesses
      YEN MENG JIIN  -  2,140 words
    • Article
      Lock icon A whole new financial world
      316 10/11 LOMBARD Odier Cie managing partner Thierry Lombard is confident that Europe will find a way out of its crisis. But its leaders will need a keen sense of responsibility, vision and passion, ingredients that seem to be in somewhat short supply. “I’m confident that a
      316 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK Nov 28-Dec 2, 2011
      • Article
        Lock icon Cash calls for $1.9b test investors in Q4
        62 12 A RECENT rash of rights issues has irked existing investors because they must pay up or be diluted, but not all cash calls are bad news, analysts say. The eight listed companies whose announced rights issues expire in the fourth quarter of
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      • Article, Illustration
        Lock icon Expect tough fights in GEs from now on: PM
        80 12 GONE are the days of “clean sweeps” at the polls as well as “safe wards” where victory over the opposition is all but guaranteed. Future general elections will be fiercely contested, Prime Minister Lee Hsien Loong said at the People’s Action
        FILE PHOTO  -  80 words
      • Article
        Lock icon China property prices slip down a tricky slope
        43 12 CHINA’Sreal-estate marketis starting to hurt. In October, the number of cities posting a drop in prices doubled from September; and property sales fell 24 per cent month-on-month and 14 per cent from a year earlier.
        43 words
      • Article
        Lock icon StarHub scores Uefa for both teams’ viewers
        64 12 STARHUB has clinched the exclusive broadcast rights for the Uefa Euro 2012 football tournament, in what will almost certainly trigger Singapore’s cross-carriage law for the first time since it took effect in August. The football championship, jointly hosted by Poland and Ukraine, will
        64 words
      • Article
        Lock icon Facebook might make US$10b friendship request
        64 12 FACEBOOK founder Mark Zuckerberg might be close to clicking “like” on an initial public offering that has been reportedly pegged at US$10 billion the largest ever technology IPO. This values the social networking site at US$100 billion, which is twice what Goldman Sachs thought
        64 words
      • Article
        Lock icon A slice of Chongqing in CapitaLand’s China pie
        58 12 CAPITALAND continues to sink its teeth into China, unveiling a 21.1 billion yuan (S$4.1 billion) mixed-development plan in Chongqing, even as concerns grow over the possibility of a sharp slowdown in the Chinese property market. But it now faces higher credit costs,
        58 words
      • Article
        Lock icon Examining the house that Reits built
        73 12 CALLS for reform in the real estate investment trusts market here have taken on fresh urgency, as questions resurface about the possible conflict of interest when Reits acquire assets from their sponsors. This comes after the Monetary Authority of Singapore said last week that
        73 words
      • Article
        Lock icon Banks warily cut back on lending to businesses
        66 12 BANK lending nearly stalled in October as loans to businesses shrank for the first time in 16 months, hurt by the worsening outlook for the world economy. Total Sing dollar bank loans rose just 0.3 per cent to $406.5 billion, down sharply
        66 words
      • Article
        Lock icon Susan Lim loses appeal against disciplinary probe
        64 12 SUSAN Lim, whose bill for treating a royal patient from Brunei for seven months amounted to $24.8 million, has lost her last legal appeal to block an inquiry by a medical disciplinary committee. Her appeal against an inquiry by the second DC appointed
        64 words
      • Article
        Lock icon China PMI flashes red for economy
        53 12 EVIDENCE is mounting that the economic slowdown in China may be even sharper than expected. China’s purchasing managers’ index in the month just ended fell for the first time in 33 months. In November, the index fell 1.4 points to 49 (readings below 50
        53 words
      • Article
        Lock icon For season parking, a squeeze in the city
        73 12 A thriving trade in season parking space in the heart of the central business district (CBD) has sprung up highlighting the unquenched demand for lots in the area. Here’s how it works: office-goers who have obtained lots in another building or shifted
        73 words
    • Article
      Lock icon NEXT WEEK Dec 5 -Dec 9
      85 12 US DATA Dec 5 October factory orders November ISM non-manufac-turing index Dec 8 Week of Dec 3 jobless claims Dec 9 October international trade Dec consumer sentiment SINGAPORE DATA Dec 7 November international reserves EVENTS Dec 5 Rome Italian Prime Minister Mario Monti expected
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  • Page 12 Miscellaneous
    • Miscellaneous
      Lock icon Page 12 Miscellaneous Column 1
      308 12 Across 1 Substitute for Peter McLean (11) 9 Don’t miss what is said to be a slogan (9) 10 Nothing disturbed bees like being overweight (5) 11 The significance of what you bring in (6) 12 Go for gold, in anticipation (8) 13 A young crab? (6) 15 Fashion creation
      308 words
    • Miscellaneous
      Lock icon Page 12 Miscellaneous Column 2
      14 12 SATURDAY with Ludwig ‘Alright, so you would prefer to watch the stock market instead?’
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  • COMPANIES
    • Article, Illustration
      Lock icon Ranking of region’s best-run companies available next year
      477 13  -  List of top 30 public-listed companies, among 60 biggest in six Asean countries, to be published by end-March By Conrad Tan conradt@sph.com.sg Singapore FROM next year, investors will have access to a ranking of some of the best-run public-listed companies in Asean.
      477 words
    • Article, Illustration
      Lock icon Eurozone woes hit securities trade value
      403 14  -  SGX saw $1.21b daily average in Nov, down 12.3% from Oct and 40% year on year By Jamie Lee leejamie@sph.com.sg Singapore TRADING activity in both the securities and derivatives markets in November fell over the month, as investors continued taking a “risk-off” approach in
      BLOOMBERG  -  403 words
    • Article
      Lock icon Sumitomo shelves Nikko IPO
      287 14 Reuters Tokyo ANinitial public offering(IPO)ofJapan’s Nikko Asset Management that looked set to raise 45.5 billion yen (S$751.7 million) for its main shareholder was shelved yesterday due to weak market conditions and the worsening debt crisis in Europe. Sumitomo Mitsui Trust Holdings, which owns most of Nikko
      Reuters  -  287 words
    • Article
      Lock icon Six banks to manage listing of Khazanah unit
      423 14 Healthcare unit also looking at potential dual listing in Singapore: sources Reuters Singapore MALAYSIAN state investor Khazanah has hired six banks to manage the listing of its healthcare unit next year in a deal that could be around US$1.5 billion and potentially
      Reuters  -  423 words
    • Article
      Lock icon Dukang Distillers entering S Korean market
      251 15  -  By Teh Shi Ning tshining@sph.com.sg Singapore DUKANG Distillers is venturing into South Korea, its first foray abroad, with Lotte Chilsung as its distribution partner. The group announced yesterday that it has signed a letter of intent with Lotte Chilsung, the beverage arm of South
      251 words
    • Article, Illustration
      Lock icon Barclays Wealth eyes 70% growth in Asia AUM by ’14
      590 15  -  Its overall strategy is to expand total group AUM to £290b from £170b By Siow Li Sen lisen@sph.com.sg Singapore BARCLAYS Wealth is aggressively ramping up its private-bank business in Asia, targeting to grow its assets under management (AUM) 70 per
      590 words
    • Article
      Lock icon Citi’s M&A advisory chief in S-E Asia quits
      282 15 Reuters Bloomberg Singapore CITIGROUP Inc’s head of mergers and acquisitions (M&As) advisory in South-east Asia has left the bank, a person familiar with the matter said yesterday. MIT-educated Giles Ong was hired in 2004 from Merrill Lynch and was promoted to managing
      Reuters; Bloomberg  -  282 words
    • Article, Illustration
      Lock icon Central bank action, short-covering lift STI
      567 16  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent ON Wednesday, central banks jumped in to try their hand at rescuing the eurozone, a move that was initially viewed by the markets positively. However, even as stocks rose, analysts warned that the cut in the US dollar
      567 words
    • Article
      Lock icon TOP GAINERS
      66 16 BY CENTS CLOSE UP DBXT Nifty 10US$ 9982 878.4 7.4 IS DJ US Tech 6570 475.2 6.0 DBXT E50 10US$ 3530 306.9 7.3 DBXT MSUSA 10US$ 3021 191.4 5.2 Lyxor EmergingMkts 1 981 98.9 8.5 GLD 10US$ ***** 95.0 0.4 DBXT SPASX200 10US$ 3308 92.5 2.2 Lyxor Europe
      66 words
    • Article
      Lock icon TOP LOSERS
      66 16 BY CENTS CLOSEDOWN DBS Bk4.7% NCPS 100 ***** -200.0 -1.8 JMH 4850 -159.2 -2.5 DBXT S&P Short 10US$ 4185 -83.5 -1.5 DBXT DBCBDJUBS 10US$ 3432 -52.7 -1.2 Asia Pac Brew 2500 -50.0 -2.0 OCBC Bk 5.1%NCPS 100 ***** -38.0 -0.4 CIMBAsean40 100US$ 981 -29.5 -2.3 DBXT MSINDO 10us$
      66 words
    • Article
      Lock icon Credit Suisse sees reflation rally for Asian stocks
      614 16  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore ASIAN equities are primed for a “reflation rally” as slowing inflation provides room for monetary easing by central banks. This could lift Asian stocks by 10-15 per cent next year, according to Credit Suisse. Its top market
      614 words
    • Article
      Lock icon TOP 20 ACTIVES
      111 16 VOL CLOSE GMGR 124,086 1.9 -0.8 -29.6 NobleGrp 40,897 123 3.0 2.5 GoldenAgri 37,322 71 -0.5 -0.7 GMGGlobal 32,827 11.5 -0.5 -4.2 GentingSP 30,346 157 3.0 1.9 Memstar 13,716 6.4 0.6 10.3 TACorp 13,308 24.5 1.5 6.5 Armarda 13,172 3.7 0.1 2.8 SingXpress 12,170 1 0.0 0.0
      111 words
    • Article
      Lock icon STI STOCKS
      108 16 Stock name Close Change CapMallsAsia 1.295 +0.015 CapitaLand 2.630 +0.050 CapitaMall 1.810 +0.035 CityDev 10.300 +0.110 ComfortDelGro 1.410 +0.005 DBS Grp 12.800 -0.010 F&N 6.430 +0.140 GLP 1.810 -0.010 Genting SP 1.570 +0.030 Golden Agri 0.710 -0.005 HK Land 4.760 -0.020 JMH 48.500 -1.240 JSH 29.180 -0.150 Jardine
      108 words
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      55 13 kitchen culture r A k. kitchen culture r kitchen culture kitchen culture f v poggen uacKer tpohlij] HKSSXSHi. rational The Swiss Leader Kuppersbusch Foster s= LiJOLF lica irinox Liul |interlubkel COR kitchen culture 2 leng kee road #01-02/05 #01-07 thye hong centre Singapore *****6 t: [65] 6473 6776 f: [65]
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      115 15 0) 03 P)p> g is B to Q: ZZ m WW r i p® I* M y Is L J CENTRAL-LINK BUKIT MERAH Own it at $2.62psf per mth* A Rare Business Development at CBD Fringe High Rental Yield of 6% Strategic Business Location (D03) Capital Appreciation Potential Foreigner Eligible
      115 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Gaining a toehold in China
      900 17  -  To achieve success in the country requires taking the time to develop relationships and gauging the direction the market is moving from the desk of Eddy Chan Senior Vice-President FedEx Express China CHINA, with its market of 1.3 billion people is the “go to” place
      900 words
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  • SINGAPORE
    • Article
      Lock icon MAS assistant MD leaves, sparking exec reshuffle
      345 18  -  Leo Mun Wai leaving in February after 13 years; to be replaced by Lee Chuan Teck By Siow Li Sen lisen@sph.com.sg JUST nine months after it was overhauled, the Monetary Authority of Singapore (MAS) is again reshuffling its senior management team to prepare
      345 words
    • Article
      Lock icon CK Dept Store expects to be resilient in 2012
      395 18  -  It continues to see growth potential in Singapore By Kenneth Lim kenlim@sph.com.sg HEARTLANDS-FOCUSED CK Department Store expects to be resilient in the face of an economic slowdown in 2012, and continues to see growth potential in Singapore. The company’s founder also
      395 words
    • Article
      Lock icon Australia honours Ow Chio Kiat
      181 18 STAMFORD Land Corporation executive chairman Ow Chio Kiat has been awarded one of Australia’s highest honours. Mr Ow, who heads the Singa-pore-listed Australasian luxury hotel and property developer, has been appointed Honorary Officer in the Order of Australia by the Commonwealth of Australia, “for his
      181 words
    • Article, Illustration
      Lock icon Ailing children have their wishes granted
      229 18  -  By Arthur Lee arthurl@sph.com.sg CHRISTMAS came early last Saturday for some 30 children suffering from life-threatening illnesses. They and their families joined more than 100 other guests for a Christmas dinner at the Ritz Carlton. The hotel’s annual Christmas tree light-up and festivities were
      ARTHUR LEE  -  229 words
    • Briefing
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  • WORLD
    • Article
      Lock icon EU banks, govts set to scramble for funds
      534 19 Come 2012, they will need to borrow more than US$2 trillion to refinance maturing bonds and bills Bloomberg London EUROPE’S banks will compete with their governments to borrow over US$2 trillion next year as the two groups refinance maturing bonds and bills.
      Bloomberg  -  534 words
    • Article
      Lock icon Credit Agricole, other banks dump Asia loans
      445 19 Reuters Hong Kong UNDER pressure from a spiralling debt crisis at home, Credit Agricole and other European banks are offloading more of the loans they hold in Asia, squeezing up lending rates and making it tougher for small and mid-sized companies to borrow.
      Reuters  -  445 words
    • Article, Illustration
      Lock icon Gold bull run to extend to 2012: analysts
      425 19 Reuters Shanghai THE spectacular bull run in gold prices is unlikely to end soon, with bullion retaining its appeal in 2012 due to the uncertain global economy, analysts and industry officials said yesterday. Gold’s growing allure for buyers ranging from central banks
      Reuters; AFP  -  425 words
    • Article, Illustration
      Lock icon Scope for stimulus limited this time round, says India
      486 20 Government borrowing more than planned as a stock slump thwarted attempts to raise cash from stake sales in state-owned companies Bloomberg AFP New Delhi THE Indian government has limited scope for a boost in spending to create demand and spur growth,
      Bloomberg; AFP; BLOOMBERG  -  486 words
    • Article
      Lock icon Louis Vuitton chief brushes off gloom
      415 20 AFP Sydney LOUIS Vuitton (LV) chief executive Yves Carcelle says the luxury brand is ready to withstand financial turmoil, with demand for its products on the rise even amid global uncertainty. Speaking yesterday at the opening of the firm’s new state-of-the-art showcase store here,
      AFP  -  415 words
    • Article
      Lock icon China can’t use reserves to ‘rescue’ countries
      370 21 1997 Asian crisis taught China that it needs large reserves to maintain liquidity to honour obligations, says minister Bloomberg Beijing CHINA can’t use its US$3.2 trillion in foreign exchange reserves to “rescue” European nations, and the country “has done its part” to help
      Bloomberg  -  370 words
    • Article
      Lock icon Dim sum bond investors lack protection
      576 21 Bloomberg Hong Kong ASIA’S fastest-growing bond market lacks restrictions that stop companies from borrowing to the brink of default. Dim sum bond sales quadrupled to 146 billion yuan (S$29.5 billion) this year, even as 60 per cent of nonfinancial corporate securities listed onHSBCHolding plc’sOffshoreRenminbi
      Bloomberg  -  576 words
    • Article
      Lock icon Beijing will cut interest rates: Goldman, HSBC
      324 21 Bloomberg Beijing GOLDMAN Sachs Group and HSBC Holdings have forecast that China will cut interest rates in 2012, putting the banks at odds with most of their rivals, who see elevated inflation preventing a reduction. The People’s Bank of China reduced lenders’ reserve
      Bloomberg  -  324 words
    • Article, Illustration
      Lock icon Japan’s pension Fund is hurting
      510 22 Losses on foreign equities, strong yen take their toll Reuters Tokyo JAPAN’S public pension fund, the world’s largest, logged its worst investment performance in three years in July-September as strength in the yen and Europe’s debt crisis hurt returns in foreign assets and domestic equities.
      Reuters; AFP  -  510 words
    • Article
      Lock icon Jakarta revokes ban on sending maids to M’sia
      272 22 AFP Jakarta INDONESIA has lifted a ban on sending domestic workers to Malaysia after both countries agreed on a minimum salary increase and measures to end abuse and torture, an official said yesterday. Jakarta imposed the ban in June 2009 after a
      AFP  -  272 words
    • Article
      Lock icon Nexon stays on IPO course, unfazed by market conditions
      612 22 Reuters Tokyo ONLINE games firm Nexon Co said yesterday that it would forge ahead with what is likely to be Tokyo’s biggest initial public offering this year, brushing off the sluggish market conditions that prompted Nikko Asset Management to cancel its
      Reuters  -  612 words
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      44 20 Check out these positions and five hundred more in CATS Recruit Executive Appointments in The Straits Times now! ShimizuCorporationishiring Structural Engineers TheSingaporeInstituteofManagement isrecruitinga Project Manager, Strategic Plans Research TheMinistryofEducationhasa vacancyfora Recruitment Manager LendLeaseisonthelookoutfora Chief Financial Officer, Asia Deloittehasapositionopenfor Director of Human Resources, Southeast Asia
      44 words
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      151 21 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF HONG GUAN MOTOR PTE LTD (In Members’ Voluntary Liquidation) Company Reg. No. *****1315W NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final
      151 words
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      136 21 ONG LOCK CHO& BROTHERS PRIVATE LIMITED (In Voluntary Liquidation! (Company Reg. No. 1954-*****-H) NOTICE IS HEREBY GIVEN PURSUANT TO SECTION 308 OF THE COMPANIES ACT, CAP. 50 THAT A FINAL GENERAL MEETING OF THE COMPANY WILL BE HELD ON THE 4TH JANUARY 2012 AT 10.00 A.M. AT9 KELANTAN LANE #06-01,
      136 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      9590 26 Transaction date: Dec 2 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 $mil 21 11.6 8Telecom 15.5 6.1 13.5 7.8 3.9 3.2 74.2 9.5 4.1 A-Sonic 5 4.5 5 2.6 1.9 35.8 65 48.5
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 2 4 0 0 0 6 2 4 Manufacturing 44 34 31 4 5 5 48 39 36 Commerce 15 19 12 2 3 3 17 22 15 Tpt/Stor/Comms 20 6 10
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      Lock icon BT SHARE INFORMATION SERVICE
      829 26 For week beginning Nov 28 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Amtek Engg Ltd 1-Dec-11 Daniel Yeong Bou W *Buy 577 na ***** 4.56 ***** 4.66 Swing Media
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      Lock icon SECURITIES TRADING TURNOVER
      119 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 14,316 14,316 59,347 59,347 Manufacturing 128,033 7,512 135,545 121,612 116 121,728 Commerce 80,253 12,821 93,074 125,058 524 125,582 Tpt/Stor/Comms 72,027 13,689 85,716 95,484 1,524 97,008 Finance 12,320 12,320 116,204 116,204 Construction 30,360 8,266 38,626 7,080
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  • MARKETS
    • Article
      Lock icon LIFFE
      82 27 Dec 1 COCOA (£/tonne) Close Prev High/Low Dec 11 1429 1440 1450/1428 Mar 12 1460 1465 1479/1456 May 12 1477 1481 1491/1472 Jul 12 1493 1496 1505/1488 COFFEE (US$/tonne) Close Prev High/Low Jan 12 1993 1961 1995/1951 Mar 12 2027 1997 2029/1990 May 12 2054 2025 2055/2021 Jul 12
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      Lock icon METALS
      66 27 Dec 2 GOLD (US$/oz) Dec 02 Dec 01 Hong Kong 1750.*****5.40 Dec 01 Nov 30 London 1744.*****5.25 1745.*****6.45 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 42.37 41.70 Source: UOB PLATINUM Lon (US$/oz) Dec 01 Close Previous PM Fix 1561.*****8.00 AM Fix 1552.*****5.00 Source: Thomson Reuters PLATINUM NYMEX
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      Lock icon PALM OIL
      57 27 Dec 2 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 11 3020 3040 3035 3005 754 1621 Jan 12 3061 3066 3071 3030 1616 ***** Feb 12 3065 3062 3075 3035 ***** ***** Mar 12 3066 3060
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      Lock icon GOVERNMENT SECURITIES
      81 27 Dec 2 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 01.03.2012 0.32 1-Year BY*****W 01.11.2012 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.16 103.24 103.24 5-Year N*****0W 1.125 01.04.2016 102.21 102.35 102.34
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      Lock icon INTERBANK CURRENCY RATES
      154 27 Dec 2 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3157 1.3173 1.0245 1.0255 Canadian dollar 1.2670 1.2678 0.9866 0.9870 Euro 1.7314 1.7321 1.3482 1.3485 NZ dollar 1.0035 1.0044 0.7814 0.7819 Sterling pound 2.0161 2.0172 1.5699 1.5704
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      Lock icon SMX MARKET UPDATE
      128 27 As on 1 December 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METALS GOLD FUT FEB2012 1756.90 1739.90 1739.70 137 SILVER FUT MAR2012 33.395 32.635 32.755 35 CURRENCY AUD-USD FUT DEC2011 1.0244 1.0145 1.0208 1720 EUR-USD FUT DEC2011 1.3521 1.3418 1.3464 6190 GBP-USD FUT
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      Lock icon CHICAGO BOT
      93 27 Dec 1 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 12 1128.*****1.*****3.*****6.25 Mar 12 1138.*****1.*****3.*****6.50 May 12 1149.*****1.*****2.*****7.00 Jul 12 1158.*****9.*****1.*****6.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Dec 11 49.52 49.27 49.75 48.97 Jan 12 49.70 49.50 50.09 49.17 Mar 12 50.11 49.93 50.50
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    • Article
      Lock icon OIL
      75 27 Dec 1 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 108.66 -2.08 WTI (Near Mth) 100.01 -0.41 Dubai (1-Mth F) 106.98 -0.43 Tapis blend 118.01 -0.08 Minas 115.41 -0.08 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 96.61 0.14 Jet Kerosene 125.52 0.17 US$/barrel Opec Oil Basket Price
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Dec 1 Index Change Change Change Change Change Change World Preliminary 825.4 -0.1 -8.0 0.0 -7.5 -0.1 -7.6 ‡EAFE Preliminary 682.1 0.4 -14.8 0.4 -13.6 0.3 -13.7 Europe Preliminary 1012.2 -0.5 -13.4
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Dec 02 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.342 1.279 Can dollar 1.289 1.24 Euro 1.76 1.693 Sterling pound 2.05 1.972 NZ dollar 1.029 0.98 US dollar 1.303 1.253 Local dollars to 100 units of foreign currency: Currencies Sell
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      Lock icon LONDON METALS
      69 27 Dec 1 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2138.25 2102.75 3 months 2145.00 2110.00 Copper, Grade A (US$/tonne) Cash 7763.00 7859.50 3 months 7790.00 7885.00 Lead (US$/tonne) Cash 2085.75 2091.00 3 months 2105.00 2110.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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      Lock icon STOCK MARKETS
      88 27 YTD change:-13.06% 52-week high: 3,280.77 on Jan 7,2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg YTD change:-15.93% 52-week high: 3,067.46 on Apr 18,2011 52-week low: 2,307.15 on Oct 24,2011 Source: Bloomberg YTD change:-15.50% 52-week high: 10,891.60 on Feb 17,2011 52-week low: 8,135.79 on Nov 25,2011 Source: Bloomberg
      Source: Bloomberg  -  88 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Romney’s dangerous anti-China rhetoric
      1350 28 / 29  -  Accusing Beijing of manipulating its currency and stealing US jobs is not based on any sound economic policy and everything to do with electoral politics Leon Hadar Washington correspondent AS the US presidential and congressional election campaigns are getting started, no one should be surprised that
      PHOTO: AP  -  1,350 words
    • Article
      Lock icon EU needs a radical shake-up to create a new federal system
      842 28 / 29  -  By Nicholas Veron ~The author is Senior Fellow at the Brussels-based think tank Bruegel and Visiting Fellow at the Peterson Institute for International Economics at Washington DC. This commentary is sourced from VoxEU.org, a web portal that features the
      842 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Riding the equity rollercoaster with downside buffer
        1152 30 / 31  -  Lombard Odier Investment Managers believes that convertible bonds’ asymmetric profile offers an attractive risk-reward proposition Genevieve Cua gen@sph.com.sg Personal Finance Editor HOW would you like an instrument that allows you to participate in an equity upturn but also pays a coupon which cushions
        Source: Lombard Odier Investment Managers. October 2011.  -  1,152 words
      • BROKERS’ TAKE
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          Lock icon Singapore Airlines
          375 30 / 31 HOLD Dec 2 close: $10.57 OCBC INV RESEARCH, Dec 2 THE Australian Competition and Consumer Commission on Thursday approved the alliance between Singapore Airlines (SIA) and Virgin Australia (VBA), Australia’s No 2 carrier. On top of code-sharing on one another’s international and domestic flights under this alliance, SIA
          375 words
        • Article
          Lock icon CDL Hospitality Trust
          355 30 / 31  -  Compiled by Joyce Hooi OUTPERFORM Dec 2 close: $1.475 CIMB Research, Dec 2 WE judiciously shave revenue per available room (Revpar), factoring in flat rates, lower visitor growth and hotel occupancy for FY2012. This lowers our distribution per unit (DPU) estimates and dividend discount model-based target price
          355 words
      • Article, Illustration
        Lock icon Six of one, half a dozen of the other
        891 32 By holding stocks and bonds in equal proportion, an investor can stick to his portfolio and ride out the storms NYT New York THE euro crisis is deepening, the government in Washington can’t cut the deficit or reduce unemployment, and the
        NYT; REUTERS  -  891 words
      • Article, Illustration
        Lock icon The pros and cons of rights issues in Reits
        1579 33  -  From our research, investors who opted not to participate in the rights issues have come out ahead show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder I RECEIVED quite a number of e-mail and
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    • WEALTH REAL ESTATE
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      41 36 M AUDEMARS PIGUET Le maitre de I'horlogerie depuis 1875 m k 91 m SSa x Ih s a. 1 I f n V 1 I <// i v i 1 ROYAL OAK EQUATION OF TIME For enquiries, Tel (65) 6238 6678 audemarspiguet.com
      41 words
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      62 1 LivingTHEBUSINESSTIMESWEEKEND|DECEMBER3-*****BTTHE BUSINESS TIMES WEEKEND DECEMBER 3-4 2011 'TIS THE SEASON TO BE GROWING Restaurateurs here have their eyes set on expansion PHOTO: MEZZE BISTRO STYLE Click on style L8-9 PERSONAL SPACE Under one roof L12-13 GOLF Durban premier golfing destination L17 GADGETS Heads-up for Monster hits L14 MOTORING A subdued
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon ‘Tis the season to be growing
        3140 2/3  -  not theonly things that may grow bigger this festive season. Restaurateurs here have their eyes set on expansion to tap on the busy year-end period, with a handful moving into grand newspaces and rolling out novel food concepts.By concepts.By Debbie Yong debyong@sph.com.sg Skyve 10
        BRASSERIE GAVROCHE PHOTOS: ARTHUR LEE  -  3,140 words
    • Article, Illustration
      Lock icon Ultimate precision
      442 6 TAG Heuer continues to prove its innovative personality with its newest haute horology creations SPECIAL FEATURE A BRAND that is well known for its innovation and production of high-technology timepieces, TAG Heuer’s newest haute horology creations only serve to prove that it is a force to be reckoned
      442 words
    • STYLE
      • Article, Illustration
        Lock icon Click on style
        723 8 / 9  -  Business-savvy Singaporeans are jumping on the online shopping bandwagon to give big players such as Net-a-Porter and ASOS a run for their money with Asian designs. By Melissa Lwee-Ramsay mellwee@sph.com.sg ASIA FASHION INC http://www.asiafashioninc.com WHENit comesto the typeofpeople you’d expect to start an online fashion business, ex-banker
        723 words
      • Article, Illustration
        Lock icon Banking on Asia major
        743 8 / 9  -  By Melissa Lwee-Ramsay SHOPTHEMAG www.shopthemag.com THE rise of Asian designers such as Alexander Wang, Jason Wu and Prabal Gurung has, over the past few years, turned the spotlight onto Asian fashion. And yet, in spite of the growing interest, discovering new Asian talent to shop from
        743 words
      • Article, Illustration
        Lock icon Style powwow at the Teepee
        517 8 / 9  -  By Melissa Lwee-Ramsay A CURIOUS TEEPEE acuriousteepee.com QUIRKY concept store A Curious Teepee (ACT) is often cited as the go-to place to discover local talent. After all, when Tracy Phillips first opened the space last year, she made it a point to ensure that at
        517 words
      • Article, Illustration
        Lock icon FORM MASTER
        1140 10 / 11  -  A desire to create the best in women fashion is what makes designer Elie Saab stand out in this highly competitive industry. By Melissa Lwee-Ramsay GROWING up in war-torn Lebanon, when bread-and-butter issues like having food on the table and trying not to get shot took precedence over
        PHOTOS: AFP, ELIE SAAB, ELIE SAAB HAUTE COUTURE  -  1,140 words
    • HOME & GARDEN
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        Lock icon Under one roof
        1122 12 / 13  -  The key to the success of the Theng multi-generation home is that each family has its own home within the house and every household’s own routine is kept.By personal space kept.By Corinne Kerk btnews@sph.com.sg FOR many people, the idea of living under the same roof with the
        PHOTOS: ARTHUR LEE, THENG HUI LUAN  -  1,122 words
    • GADGETS
      • Article, Illustration
        Lock icon Heads-up for Monster hits
        1016 14  -  The runaway headphones success of Monster’s Beats by Dr. Dre lies not in its forensic acoustics but in the gut feeling of music producers from all over the world, founders Dr. Dre and Jimmy Iovine tell Christopher Lim Christopher Lim limchris@sph.com.sg MENTION hip headphones and Beats
        WIREIMAGE  -  1,016 words
    • HEALTH
      • Article, Illustration
        Lock icon Drink to a healthy heart?
        1049 15  -  Consuming alcohol in small quantities may have its benefits, but larger quantities consumed over a long period of time could do more harm.By harm.By Michael Lim ~Dr Lim is medical director at Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia, British Medical Journals
        BLOOMBERG  -  1,049 words
    • SPORT
      • Article, Illustration
        Lock icon NBA hardball may cost match quality
        585 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor IN the end, common sense finally prevailed. There will be a National Basketball Association (NBA) season after all, just when it seemed that all hope was lost and the entire campaign would be scrapped for
        AP FILE PHOTO  -  585 words
      • Article, Illustration
        Lock icon How Australia could use Shane Warne now
        539 16  -  pitch report with jason de la pena SHANE Warne was legendary. Ever since he delivered the “ball of the century” or “that ball” to England’s Mike Gatting on day two of the First Ashes Test at Trent Bridge in 1993, the blonde-haired, brash,
        AFP  -  539 words
    • GOLF
      • Article, Illustration
        Lock icon Durban – premier golfing destination
        1051 17  - Durban premier golfing destination Golfers from all over the world are attracted to the city in KwaZulu Natal due in part to its sub-tropical climate. By Justine Moss btnews@sph.com.sg GOLFING talent in South Africa has, for many years, grown at both the amateur and professional levels, due partly to a
        1,051 words
    • MOTORING
      • Article, Illustration
        Lock icon Lexus revolution
        736 18/19  -  There are several reasons why the new GS range is a critical milestone for the Japanese luxury brand. By Samuel Ee LEXUS isn’t exaggerating when it says the new GS range is a critical milestone for the Japanese luxury brand. With its revolutionary styling and handling, it is
        736 words
      • Article, Illustration
        Lock icon Plenty of extra room
        466 18/19  -  By Samuel Ee samuelee@sph.com.sg THE new Lexus GS sedan may have the same overall length and wheelbase as its predecessor but interior space is much better because of the improved packaging. The new front seats are lower and come with a higher level of adjustment, including
        466 words
      • Article, Illustration
        Lock icon A SUBDUED DISPLAY
        698 20  -  This year’s Tokyo motor show has numerous concept cars but few new real-world production cars for visitors to drool over. By Samuel Ee samuelee@sph.com.sg THE foreign carmakers are back but the glamour and prestige for this year’s Tokyo motor show seems to have been dialled back a
        PHOTOS: BLOOMBERG  -  698 words
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      112 5 /VVSNTAGs un. u Blu-ray Hall in Vienna -ss »vm P40UWi VCJLUMt bV ssfcrV\. I #5 m <■> TB.v- r,' v<ra ;W Yamaha's line of AVENTAGE AV Receivers have a unique advantage that gives them ultra-high, rock-solid performance: the Anti Resonance Technology (A.R.T.) Wedge. This fifth leg in the centre of
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      806 6 wine&dine with BTWeekend Triple Three Level 5, Mandarin Orchard Singapore, 333 Orchard Road Z6831 6288 Named after the address of the hotel 333 Orchard Road, Triple Three showcases a sumptuous international buffet spread with over 128 culinary delights and 10 LIVE cooking stations. In addition to the freshest Sashimi and
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      70 7 L A-' v J1 X x 1/ GREEN CROSS Link Series 1 T 4ii 2D X 40 20 LLil A PARTNERSHIP TO BENEFIT ENVIRONMENTAL CHARITIES Leonardo DiCaprio and TAG Heuer have joined forces to contribute to Green Cross International initiatives. To learn more please visit www.tagheuer.com HISTORY BEGINS EVERY MORNING
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