The Business Times, 9 December 2011

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Microfilm: NL31729
Total Pages: 84
1 52 The Business Times
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  • Title Section
    Lock icon Masthead
    23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Friday, December 9,
    23 words
  • Article
    Lock icon Stocks fall, sales stall as new normal kicks in
    644 1  -  Analysts project big drop in private home prices and sales with new measures in place By CHEN HUIFEN [SINGAPORE] Bank and property stocks tumbled yesterday as investors reacted with shock to the latest round of measures to curb foreign and speculative
    644 words
  • Article
    Lock icon MARKETS DIGEST
    141 1 HST INDEX 2,728.31 (-54.24) HST INDEX FUTURES 2,723.00 (-51.00) HSIMSCI 309.80 (-7.03) HSIMSCI FUTURES 308.20 (-7.30) FOREX US$ S$ US$ (S$ per US$) 1.287 (US$/S$ per 1.570 2.021 EURO (US$/S$/E) 1.343 1.728 Foreign currency per US$ S$ YEN 77.60 60.30 RM 3.132 2.433 HK$ 7.775 6.040 BAHT 30.75
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  • Article
    Lock icon New terms may hit large collective sales
    964 1  -  To avoid paying ABSD, developers must build, sell all units on residential sites within 5 years By KALPANA RASHIWALA [SINGAPORE] The latest measures unveiled by the government are expected to have major implications for developers buying residential land, especially involving collective sale sites.
    964 words
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      211 1 CHILDAID 2011 Charity concert by young talents PAGE 12 ARTS Have a Merry Asian Christmas PAGE 31 EUROZONE ECB cuts rates, offers banks long-term funds PAGE 4 BOOKS Hot on cold case PAGE 30 Luxe Christmas 2011 Cate. Richard. Jay. Philippe. Luca. Tsui. Ferran. Simon. Vivienne. Rupert. Moshe. Share the
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  • TOP STORIES
    • Article
      Lock icon A well-targeted move, but not without risk
      608 2 EDITORIAL REACTIONS TO NEW PROPERTY MEASURES THE move by the government to levy additional buyer’s stamp duty (ABSD) on residential property purchases has a valid rationale, is carefully targeted and will almost certainly benefit certain groups, but it could also have some unintended
      608 words
    • Article
      Lock icon Banks brace for slower growth in home loans
      597 2  -  But foreigners not major source of mortgage business By EMILYN YAP [SINGAPORE] Banks here are bracing themselves for slower growth in home loans with the introduction of more property market cooling measures, but they are not getting into a tizzy about it.
      597 words
    • Article
      Lock icon New tax ravages property shares
      536 2  -  By FELDA CHAY [SINGAPORE] Property stocks here bled after the government slapped additional stamp duty taxes on buyers, which analysts say could wipe out 10-30 per cent of current sales volume, while prices of homes could fall by as much as 30 per cent next
      536 words
    • Article
      Lock icon Property moves prompt buyers to hold back
      489 2  -  By FELDA MINDY TAN FELDA CHAY [SINGAPORE] People have started holding back on their property purchases, and market players agree that the cooling measures announced on Wednesday will see a marked fall in property take-up rates. Despite the bleak outlook, a whopping 22
      489 words
    • Article
      Lock icon Sentosa Cove property may be impacted: analysts
      543 2  -  By UMA SHANKARI [SINGAPORE] The residential market in Sentosa Cove where foreigners and corporations accounted for 46 per cent of home purchases in the first 11 months of 2011 could be hit especially hard by the latest round of cooling measures, say analysts.
      543 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      321 2 Stocks fall, property sales stall BANK and property stocks tumbled yesterday as investors reacted with shock to the latest round of measures to curb foreign and speculative buying in Singapore’s private property market. FRONT PAGE New terms may hit large collective sales THE latest measures will have major
      321 words
    • Article
      Lock icon How EU crunch will be felt in S’pore
      849 4  -  Exports, investment, financial linkages expected to be main transmission routes By TEH SHI NING [SINGAPORE] As global markets look to the European Summit today for agreement on how to ensure greater fiscal discipline and clarity over how to boost the eurozone’s bailout
      849 words
    • Article
      Lock icon Eurozone can be saved if measures implemented quickly: Lipsky
      468 4  -  By CONRAD TAN [SINGAPORE] The eurozone can still be saved if European leaders act quickly to put in place measures to mend their public finances and recapitalise banks that were agreed on earlier this year, according to a former top International
      468 words
    • Article
      Lock icon ECB cuts rates, offers banks long-term loans
      479 4 Bloomberg Reuters AP [FRANKFURT] European Central Bank (ECB) president Mario Draghi acted to soften a looming recession and avert a credit crunch by cutting interest rates and offering banks longterm funds yesterday but doused hopes of dramatic crisis-fighting action in the euro area.
      Bloomberg; Reuters; AP  -  479 words
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      60 2 Christmas Super Wine SALE Over 100 Top Wines SAVE up to 18% on EVERY BOTTLE purchased! Now on till 31 Dec 2011 'Price quoted is inclusive of 7% GST. Check out many more great value wines in-store. Whilst Stocks Last! Ponti Wine Cellars Pte Ltd 204 Telok Ayer Street, Singapore
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      252 3 Matrix makes sense ill I I i rf i i fc# %m m i if i i /x// I m Fl Wim W//M V//, V v y V of Dollars, with Matrix on their trips abroad Now Singapore can too! For over 16 years Matrix has been making a difference
      252 words
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      137 4 BRITISH AIRWAYS The starfish. One of the many sleeping positions you can enjoy. Our Club World seats are specially designed to put you completely at ease. With a spacious, calming setting, and a perfectly flat bed with room to stretch, it's easy enough to feel right at home. To Fly.
      137 words
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      556 5 Technology that advances luxury Audi ultra The future of automotive lightweight construction furtherLight goesAudi ultra lightweistruction technThe A Audi lightweighttion technoloiR construction technologyLe Mans.The Audi R18TD Lost weight, won Le Mans.The Audi R18TDI. Audi ultra More stringent safety requirements. More extensive equipment. Larger cars.hy new cars tend to be heavier
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  • COMPANY NEWS
    • Article
      Lock icon What retail investors need to know
      680 6  -  HOCK LOCK SIEW By R SIVANITHY IN ITS recent daily report, financial research house Ideaglobal had this to say of a surge in Western markets that came after coordinated central bank intervention: “The knee-jerk reaction in global markets has been to squeeze short positions
      680 words
    • Article
      Lock icon DBS, Aviva unveil yuan insurance plan
      332 6  -  Product taps investors looking to diversify their portfolios By EMILYN YAP DBS Bank and Aviva have together rolled out an offshore yuan-denominated insurance plan said to be Singapore’s first to tap the growing interest in investments linked to the Chinese currency. The Dragon Renminbi
      332 words
    • Article
      Lock icon Temasek selling as much as $600m bonds
      608 6 Bloomberg TEMASEK Holdings Pte is selling as much as $600 million of bonds exchangeable into shares of Li Fung Ltd, the Singapore investment company’s second equity-linked debt sale in two months. Temasek, rated AAA by Standard Poor’s, sold $500 million of the zero-coupon
      – Bloomberg  -  608 words
    • Article, Illustration
      Lock icon Rotary in Malaysian oil terminal project
      438 9  -  Feasibility studies and master-planning work have started on the joint venture By RONNIE LIM SINGAPORE’S Rotary Engineering and Malaysia’s Benalec Holdings are planning an independent oil terminal development, offering an initial one million cubic metres of storage in Tanjung Piai in south-western Johor. If
      438 words
    • Article
      Lock icon A-Reit portfolio expands with 2 deals sealed
      311 9  -  By JAMIE LEE ASCENDAS Real Estate Investment Trust (A-Reit) has completed the acquisition of two buildings in Singapore for $179 million in total. A-Reit bought Corporation Place at 2 Corporation Road for $99 million, a sev-en-storey high-spec industrial building with a gross floor
      311 words
    • Article
      Lock icon Stanchart trims forecast, plans to hire 2,000 people
      409 9 Bloomberg [HONG KONG] Standard Chartered plc (Stanchart), which earns most of its profit in emerging markets, trimmed its full-year revenue growth forecast because of Asian currencies’ depreciation against the dollar while unveiling plans to hire 2,000 people. Income will grow at a
      Bloomberg  -  409 words
    • Article
      Lock icon New China Life Insurance raises US$1.9b from IPO
      406 9 Bloomberg [HONG KONG] New China Life Insurance Co (NCI), the nation’s third-largest life insurer, raised US$1.9 billion from an initial public offering (IPO), after selling shares near the bottom of a marketed range, according to people with knowledge of the matter. Earlier,
      Bloomberg  -  406 words
    • Article
      Lock icon China Environmental to buy forest plantation
      234 10  -  By FELDA CHAY CHINA Environmental Resources Group said it has signed a sale and purchase agreement to acquire a forest plantation business in China’s Guangdong province for HK$180 million (S$29.7 million). The Hong Kong-head-quartered group, whose business ranges from plan- tations to green technology,
      234 words
    • COMPANY BRIEFS
      • Article
        Lock icon JEP to buy Dolphin Engineering
        121 10 JEP Holdings has entered into an agreement to acquire Dolphin Engineering Pte Ltd in a cash-cum-share purchase. The consideration comprises (a) cash payment of $8 million; (b) 62.5 million JEP new and existing treasury shares at four cents per share; and (c) additional cash payment,
        121 words
      • Article
        Lock icon Citibank offers private clients high-end funds
        115 10 CITIBANK’S Citigold private clients in Asia Pacific will now have access to share-classes of unit trusts from top-tier global fund managers. These funds, which have been typically available to institutional and ultra high net-worth clients, are offered at improved pricing compared with retail share-class
        115 words
    • Article
      Lock icon Yongnam wins jobs worth $29.3m
      225 10  -  By JOYCE HOOI YONGNAM Holdings announced yesterday that it has won three contracts collectively worth $29.3 million. One of them is for the 21km long Downtown Line 3 (DTL3) project and the other two are sub-contract packages for a petrochemical plant on Jurong Island. For
      225 words
    • Article
      Lock icon Keong Hong offers 27m shares in IPO
      438 10  -  Construction firm prices the placement shares at 24 cts each for a Catalist listing By TAM TAM YU LING HOMEGROWN construction services company Keong Hong Holdings has launched its initial public offering (IPO) for a listing on the Singapore Exchange’s Catalist board. Keong
      438 words
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      132 6 LVSMU SINGAPORE MANAGEMENT UNIVERSITY MASTERS Our graduates don't just read the news, they make it. ALICE CHU, PhD ANURAG GAIROLA CHEN HAOMIN CHONG WAI KHUIN DEREK CHRISTA HARRISON CHUA JIAWEN CHUNG YOO SUN (VICTORIA) GULATI SHRAVAN GUO JING JIAN ZHIJUN JAMES JOSEPHINE NICOLE KAPOOR NEHA KARTHIKEYAN AMUTHARAJAN KAVYA CHANDRA KOH
      132 words
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      16 6 Enjoy two glasses of Duval Leroy champagnefor$35++ Kickback,relaxandcelebrateTheBusinessTimes'35th anniversarywithaspecialofferof$35++for2glassesof DuvalLeroyChampagneatHeatultralounge, RoyalPlazaonScotts. THEBUSINESSTIMES th Anniversary BesuretogetacopyofTheBusinessTimesWeekendtomorrowformoredetails. Diningdeals
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      1070 7 0DBS7S I am looking to capitalise on higher growth opportunities We are offering you total returns of 115.09%' at maturity 2 with the Dragon Renminbi Plan s v AN OPPORTUNITY TO GROW YOUR WEALTH Over the decades, China has enjoyed unprecedented growth, and has risen to become a global economic
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI dives on eurozone, property woes
      599 8  -  Property stocks slump on news of further cooling measure by the government STOCKS R SIVANITHY Senior Correspondent THE “buy in anticipation” play that took the Straits Times Index up 33 points on Wednesday didn’t last long as the index fell back 54.24 points or
      Source: Bloomberg  -  599 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 8 3 0 0 0 1 8 3 Manufacturing 18 68 36 2 4 3 20 72 39 Commerce 6 27 15 3 3 2 9 30 17 Tpt/Stor/Comms 8 20 8
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,962 17,962 64,348 64,348 Manufacturing 148,991 3,362 152,353 157,040 79 157,120 Commerce 49,371 2,503 51,874 92,559 207 92,765 Tpt/Stor/Comms 94,143 12,321 106,464 151,958 1,419 153,378 Finance 14,721 14,721 146,455 146,455 Construction 23,197 1,578 24,775 5,908
      119 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      113 8 Stock name Close Change CapMallsAsia 1.280 -0.025 CapitaLand 2.420 -0.190 CapitaMall 1.725 -0.015 CityDev 9.180 -0.840 ComfortDelGro 1.445 +0.010 DBS Grp 12.300 -0.470 F&N 6.060 -0.380 GLP 1.775 -0.020 Genting SP 1.535 -0.015 Golden Agri 0.705 -0.015 HK Land 4.820 -0.080 JMH 50.000 +0.150 JSH 30.240
      113 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 DAILY
      4 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      64 8 Dec 8 VALUE CLOSE BT OB/OS -25.00-124.00 BT CADI -*****.00-176.00 BT 10-day MA -*****.00 -2.00 FTSE ST Mid Cap 601.65 -10.54 FTSE ST Small Cap 408.30 -6.28 FTSE ST All Share 654.05 -12.58 FTSE ST China Top 193.12 -3.82 FTSE ST China 227.66 -3.10 FTSE ST Catalist
      64 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      58 8 VOLUME GMG R 77,294,000 GMG Global 50,470,000 CapitaLand 44,695,000 Golden Agri 34,360,000 SingXpress 30,434,000 SingTel 23,200,000 Noble Grp 22,853,000 HPH Trust US$ 21,244,000 Genting SP 20,507,000 Yangzijiang 18,288,000 VALUE($) CapitaLand 108,481,160 SingTel 73,519,130 DBS Grp 70,795,180 CityDev 57,979,460 UOB 41,412,120 Wilmar 33,717,690 Keppel Corp 33,672,305 Genting SP
      58 words
    • BROKERS’ TAKE
      • Article, Illustration
        Lock icon S’pore residential property OCBC INVESTMENT RESEARCH, Dec 8
        467 8 YESTERDAY, the Singapore authorities announced additional buyer stamp duties (ABSD) to further cool the residential property sector. Specifically, foreigners and non-individuals buying residential property will pay an ABSD of 10 per cent; PRs an ABSD of 3 per cent for their second
        Source: Bloomberg  -  467 words
      • Article, Illustration
        Lock icon Singapore Telecommunications
        186 8  -  Compiled by LYNN KAN Dec 8 close: $3.14 DMG PARTNERS RESEARCH, Dec 7 AT SingTel’s 2011 Regional Mobile Investor Day (RMID), the senior managements of six subsidiaries and associates SingTel Singapore, Optus, AIS, Telkomsel, Bharti and Globe addressed analysts in parallel breakout sessions. The event’s overriding themes were
        Source: Bloomberg  -  186 words
      • Article
        Lock icon Glossary:
        132 8 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first, second, or third quarter
        132 words
    • Article, Illustration
      Lock icon Investor optimism over EU summit fading
      526 8 CURRENCIES [LONDON] The euro was steady early yesterday as investors waited to see if the European Central Bank would provide more support to indebted euro zone countries, a move that could give the common currency a slight boost. But gains are likely to be
      BLOOMBERG  -  526 words
    • Article
      Lock icon RISES
      119 8 BY CENTS CLOSE UP GLD 10US$ ***** 110.7 0.5 Jardine C&C 4949 77.0 1.6 Asia Pac Brew 2650 30.0 1.1 STXPO 100 720 20.0 2.9 JMH 5000 19.3 0.3 OCBC Bk 5.1%NCPS 100 ***** 16.0 0.2 DBS Bk 4.7% NCPS 100 ***** 15.0 0.1 DBXT SPASX200 10US$ 3276 11.6
      119 words
    • Article
      Lock icon FALLS
      122 8 BY CENTS CLOSE DOWN DBXT FTVietnam 10US$ 2027-100.4 -3.7 CityDev.ES.1112 920 -92.0 -9.1 CityDev 918 -84.0 -8.4 DBXT MSKorea 10US$ 5463 -64.3 -0.9 DBXT E50 10US$ 3586 -63.1 -1.3 DBXT DBLCI-OY 5US$ 3833 -52.8 -1.1 JSH 3024 -50.2 -1.3 DBS Grp 1230 -47.0 -3.7 IS S&P500 ***** -42.5 -0.3
      122 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
      5 words
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      29 9 Diamond link tie Mediocrity knows nothing higher than itself, but talent instantly recognizes genius Arthur Conan Doyle, novelist Three-piece construction cut from the finest quality silk dunhill.com LONDON unni
      29 words
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      44 10 RE THE LEADING BUNGALOWiSPECIALIST Sole Agent: 15^627^ burn Estate A luxurious whiteTcastle;fabi lifestyle leading up to the majestic bu a modern plush living. EEE@9fl£B*****te$@ilia (ptelKil KftSl{) THE PEAK SELECTIONS GOURMET TRAVEL A PUBLICATION OF THE PEAK KINOKUNIYA PROLOGUE MPH PAGE ONE HARRIS TIMES DUFRY
      44 words
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      122 10 CATS Recruit The first step on your ladder to success CLA/AUG06/g \TJWVL Hi. "> l^ifV ;i ■M Mr Mm ru *¥«ISP >Jad SHr 3SES»- .9 <y ..-A 1 f >i vr WG Hofker, Lee Man Fong, Basoeki Abdullah, Ay Tjoe Christine, Samsul Arifin, Romuldo Locatelli, Affandi, Hendra Gunawan, S. Sudjojono,
      122 words
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      576 11 +1 f http://go.bestdenki.com.sg Register Win gaooDSQODig dfefeEU TM°) Like us on facebook.com/bestsg twitter.com/ askbestdenki i) THE mum 21 October 2011 to 22 January 2012 DENKI and SAMSUNG present to you the art of Televisions, Notebooks and Cameras. Enhance your overall Smart TV Experience with AllShare. Enhance Your Overall SMART TV
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Move to review older workers’ CPF cuts still on
      600 12  -  Swee Say says need to find ways to defer cuts as ‘50 today is the new 40’ By CHUANG PECK MING COMPANIES, which are facing a dicey year ahead, may also have to tackle a new challenge on the cost front.
      600 words
    • Article, Illustration
      Lock icon HELPING HANDS
      122 12 MORE than a hundred young performers took centre stage at the 2011 ChildAid concert last night, held at the NUS University Cultural Centre, to showcase their talent. This year, the charity concert also featured a short film by Brian Gothong Tan, starring the Suginami Junior Chorus as well
      PHOTO: ARTHUR LEE  -  122 words
    • Article
      Lock icon Singapore-Thailand tourism a top priority for Yingluck
      491 12  -  PM Lee holds dinner in her honour; says ties are robust By LEE U-WEN THAI Prime Minister Yingluck Shinawatra says that boosting the number of tourists between Singapore and Thailand will be a top priority during her term in office. She made this
      491 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon Former sports official charged
        86 12 CHOO Wee Khiang, former president of the Singapore Table Tennis Association, was charged yesterday with three counts of corruption and one of criminal breach of trust. Among other things, the Corrupt Practices Investigation Bureau (CPIB) alleged that Choo, a former MP, accepted from Liu Zhongze a
        86 words
      • Article
        Lock icon Real estate exchange launched
        61 12 A PLATFORM to increase transparency in the real estate sector is now available for both agents and consumers. The Singapore real estate exchange (SRX), which was launched yesterday, provides a range of services, including exclusive listings, and live real estate sales and rental transactions. In addition,
        61 words
      • Article
        Lock icon New chairman named for HSA
        127 12 THE Ministry of Health has appointed John Wong Eu Li as chairman of the Health Sciences Authority from Jan 1, 2012, succeeding Edison Liu. The appointment follows Prof Liu’s recent resignation from the Genome Institute of Singapore as executive director. One of the first “whales”
        127 words
    • Article
      Lock icon Healthcare spending may hit US$12.6b in 2015
      406 12  -  By LYNN KAN SINGAPORE will increase its healthcare spend by 6 per cent a year to reach US$12.6 billion in 2015 from US$9.27 billion in 2011, said consultancy Frost Sullivan. Still, the growth in Singapore’s healthcare expenditure will be outstripped by the region’s
      406 words
    • Article
      Lock icon Shell pilot plant may lead to bigger things
      349 12  -  By RONNIE LIM SHELL is investing in a pilot plant of a chemical intermediate that could be a precursor to a full scale commercial plant investment in Singapore, BT understands. The 500 tonne per annum demonstration unit will produce diphenyl carbonate (DPC)
      349 words
  • Page 12 Advertisements
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      126 12 A MAGICAL FESTIVE CELEBRATION THAT FEELS LIKE NO OTHER Because it was made for you. At Conrad Centennial Singapore, discover the magic of a festive season that will warm and delight your heart. The perfect celebratory experience awaits you. From sumptuous pre-Christmas buffets*; exquisite set menus; elegant tea time pleasures;
      126 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon MAS’ return to 2013 profit may be in doubt
      554 13  -  Weak global growth will affect carrier’s loads and pricing power: AmResearch By in S JAYASANKARAN in Kuala Lumpur AT least one research house has doubted Malaysia Airlines’ (MAS) plans to turn around by 2013, stating that the airline’s restructuring could be
      AP  -  554 words
    • Article
      Lock icon M’sia industrial output growth slows in Oct
      256 13 Bloomberg [SINGAPORE] Malaysia’s industrial production growth eased in October as slowing global demand led mining companies to decrease output. Production at factories, utilities and mines gained 2.8 per cent from a year earlier after rising a revised 3 per cent in September, the
      Bloomberg  -  256 words
    • Article
      Lock icon GM said to be in talks for Proton partnership
      415 13 Bloomberg [KUALA LUMPUR] General Motors Co (GM) has begun talks with Proton Holdings Bhd, Malaysia’s biggest carmaker, to form a manufacturing venture in the country, according to two people familiar with the matter. The discussions revive negotiations that were scrapped in
      Bloomberg  -  415 words
    • Article
      Lock icon Bank Indonesia pauses on rates as rupiah falls
      229 13 Bloomberg [JAKARTA] Indonesia’s central bank kept its benchmark interest rate unchanged, pausing after cutting borrowing costs in the previous two meetings to assess the inflation risk as the rupiah falls. Governor Darmin Nasution and his board kept the reference rate at 6
      Bloomberg  -  229 words
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      182 13 MACAU T IH IE RIGHT M II X O F BUSINESS LEISURE r a ■lAMfstaj -f. Tk "55 <•.■■>-■ TO tma Macau is Asia's newest and most exciting destination for meetings and incentives with billions of dollars worth of new infrastructure underway. Nowhere in Asia has there been so much
      182 words
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      19 13 CANALI SALE NOW ON PARAGON SHOPPING CENTRE TEL: 6235 6588 LUXURY FASHION AT RESORTS WORLD SENTOSA TEL: 6723 8015
      19 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon U-turn on retail reform betrays Delhi’s policy drift
      536 14 Failure to consult properly with its own allies partly to blame: analysts AFP [NEW DELHI] India’s decision to suspend plans to open its US$470 billion retail sector to foreign supermarket chains has only served to deepen the impression of a government in
      AFP  -  536 words
    • Article
      Lock icon HK to ease property curbs if slump worsens
      565 14 John Tsang expects home prices to continue slipping Bloomberg [HONG KONG] Hong Kong will ease some of its property cooling measures if home prices extend their decline amid Europe’s worsening credit crisis and a global economic slowdown, the city’s financial secretary said.
      Bloomberg  -  565 words
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      105 14 Revel in the warmth of the season and share the festive excitement with friends and loved ones. Enjoy a diverse array of festive feasts at our award-winning restaurants and take home yuletide goodies from The Atrium Deli. Get your celebrations started by visiting panpacific.com/singapore/festive For further enquiries and to make
      105 words
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  • GREATER CHINA
    • Article, Illustration
      Lock icon Solar row raises China-US temperature
      951 15  -  China may file WTO complaint as last resort to stop the US from imposing tariff By JEANNY YU EJ Insight CHINA may threaten to engage the US in a trade war to resolve a dispute over accusations that Chinese solar firms are “dumping” their products
      EJ Insight; AFP  -  951 words
    • Article
      Lock icon China anti-pollution plan draws cheers
      352 15 But respondents call for faster implementation AFP [BEIJING] More than 1,500 people have contacted China’s environment ministry to urge rapid changes in the way it monitors pollution, amid accusations that the authorities are underplaying the problem. The ministry said last month that it was planning
      AFP  -  352 words
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      106 15 SINGAPORE 5th YEAR ANNIVERSARY SALES Viewing Date: 15 17 December 2011 Time: 10:00am 7:00pm Auction 17 December 1:30 pm Chinese Modern Paintings and Calligraphy Chinese Contemporary Paintings 18 December 10:00am Magnificent Jewels, Watches and Jade Carvings 1:30pm Chinese Ceramics and Works of Art Venue Level 3, Cassia 3201A-3304, The Sands
      106 words
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      Lock icon Page 15 Advertisements Column 2
      265 15 JERRY LUM Snr Marketing Director, MBA, CES CEA Licence no: R *****6 D HP: 8288 0098 View: jerrylum.myweb.sg A 5th Avenue, New York, USA Luxury Hotel Property For Sale Hotel is located on 5th Avenue, New York, within walking distance of Empire State Building, New York Public Library and Rockefeller
      265 words
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  • WORLD
    • Article
      Lock icon Bundesbank chief key to success of EU summit
      958 16 He may undermine any deal that he feels erodes ECB’s ability to deliver stable prices [FRANKFURT] He will not attend today’s European Union (EU) summit but German central bank chief Jens Weidmann will cast a long shadow, helping to determine whether the
      958 words
    • Article
      Lock icon Markets watch the changing pecking order in the eurozone
      469 16 Bloomberg [BERLIN] In 1989, France’s Francois Mitterrand and Britain’s Margaret Thatcher manoeuvred to block German reunification. Their concerns that the expanded nation would prove an irresistible force are now coming to pass. As Europe’s crisis intensifies after two years and 1.1
      Bloomberg  -  469 words
    • Article, Illustration
      Lock icon Charades only make the final reckoning more painful
      869 16  -  COMMENTARY By JONATHAN WEIL By NEW YORK Bloomberg THE never-ending comedy that is Europe’s sovereign-debt crisis has reached its Otter moment. That’s when the world realises that the fundamental principle guiding every important government decision is this: “I think that this situation
      Bloomberg; REUTERS  -  869 words
    • Article, Illustration
      Lock icon Japan hit by steep fall in machinery orders
      398 17  -  October’s 6.9% drop takes economists by surprise, ignites fears of recession By ANTHONY ROWLEY in Tokyo A SURPRISINGLY large drop in corporate machinery orders in Japan during October year-on-year has prompted fears that it may be re-entering recessionary conditions. The 6.9 per
      BLOOMBERG  -  398 words
    • Article
      Lock icon Global firms face US$12t equity gap by 2020
      508 17 Bloomberg [LONDON] Global companies’ demand for equity capital may outstrip supply by about US$12.3 trillion in 2020 as investors avoid stocks, spurring firms to take on more debt and leaving them vulnerable during recessions, McKinsey Co said. Investors may cut their equity
      Bloomberg  -  508 words
    • Article
      Lock icon Germany’s Aquila plans hedge fund focused on Asia
      360 17 To be launched also is US$150m agricultural fund Reuters [SINGAPORE] Germany’s Aquila Capital plans to launch an Asia-focused hedge fund and a US$150 million agricultural fund in the first half of 2012, as part of a plan to expand in Asia and
      Reuters  -  360 words
    • Article
      Lock icon S&P warns it may downgrade EU, large banks
      420 18 Reuters AFP [NEW YORK] Standard Poor’s (S&P) warned on Wednesday that it could cut the credit ratings of the European Union (EU) and large eurozone banks if a mass downgrade of eurozone countries materialises. S&P placed the EU’s AAA credit rating on
      Reuters; AFP  -  420 words
    • Article, Illustration
      Lock icon Never before has world been so fixated by Europe
      530 18 AP [WASHINGTON] From money managers in the United States to garment makers in southern China, the business world is fixated on Europe’s debt crisis. Not in decades, analysts say, has Europe so gripped investors, business leaders and policymakers. The state of
      AP  -  530 words
    • Article
      Lock icon Ex-MF Global CEO apologises, says does not know where customer money is
      409 18 Reuters [WASHINGTON] Former MF Global chief Jon Corzine said that he does not know where missing customer money is, as he apologised to customers, employees and investors who have suffered because of the brokerage firm’s collapse. “Their plight
      Reuters  -  409 words
    • Article, Illustration
      Lock icon No second chance to save the euro, says Sarkozy
      516 18 He urges leaders to summon courage to end sovereign debt crisis at summit Bloomberg AFP [MARSEILLE] French President Nicolas Sarkozy said there won’t be a second chance to save the euro, as he called on European Union (EU) leaders to summon
      Bloomberg; AFP  -  516 words
    • Article
      Lock icon US wholesale inventories rise 1.6% in October
      436 18 LATEST US DATA Bloom berg [WASHINGTON] Inventories at US wholesalers rose in October by the most in five months, a sign that they expect consumer demand to rise. The 1.6 per cent increase in inventories followed no change in September, Commerce Department figures
      Bloomberg  -  436 words
    • Article
      Lock icon Options market bets on oil busting US$150 in a year
      541 18 Iran warns of oil topping US$250 if there’s threat to ban purchases from it Bloomberg [NEW YORK] The prospect of oil topping US$150 a barrel within a year has become the biggest bet in the options market as the United
      Bloomberg  -  541 words
  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      401 16 >©' MATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TOLL AUTO LOGISTICS INVESTMENTS (NO.1) PTE. LTD. (In Members' Voluntary Liquidation) Reg No. *****8935M ("the Company") NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company
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      430 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MONGOLIAN COKING COAL CORPORATION PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****2548N NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 15th Floor, Central Tower, 2 Sukhbaatar Square, SBD-8, Ulaanbaatar
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      397 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF UNITED GENERAL SERVICES (PTE)LTD. Co. Reg. No. *****3902Z (In Member’s Voluntary Liquidation) At an Extraordinary General Meeting of the Company duly convened and held at 80 Raffles Place #04-20 UOB Plaza 2 Singapore *****4 on the
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      385 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SYLT SHIPPING PRIVATE LIMITED Co. Reg. No.*****0357K (In Member’s Voluntary Liquidation) At an Extraordinary General Meeting of the Company duly convened and held at 10 Pasir Panjang Road, #18-01 Mapletree Business City Singapore *****8 on the
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      265 17 "7/JI ASIAN JM A n 1 FN, V 1 fix it QocdpiidqQ ©nOGracG o MffQeG^Q 1 -30 November 2011 CH GREAT BREWSI& jM$Jk GASTRONOMY r ilgHgpIg&t f i*#3fc|M I r VlA sr >x r 3PS l #1 1 <# A.J <. OTM i W More than 70 guests were treated
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      408 17 >©' KAYS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT CHAPTER 50 AND IN THE MATTER OF MANDARIN NOMINEES PTE LTD (In Member’s Voluntary Liquidation) (Co. Reg. No.*****0755D) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act,
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      512 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SOUTH GRAND INVESTMENT PTE LTD (the “company”) (In Members’ Voluntary Liquidation) (Company Registration Number: *****0181H) (Pursuant to Section 290(2)(b)) At an Extraordinary General Meeting of the company held on 7th December 2011 at 10 Tractor Road,
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      492 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DELTA LINK DEVELOPMENT PTE. LTD. (In Members’ Voluntary Liquidation) Company Reg. No. *****0629G NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 (the “Act”) that the Final Meeting of Members of
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Boeing machinists approve 4-year contract extension
      679 19 AP [SEATTLE] Unionised Boeing machinists voted overwhelmingly to approve a four-year contract extension in a deal that grants the company a long stretch of elusive labour peace and likely ends a federal complaint that had become a hot topic for Republican presidential candidates. Dozens
      AP; BLOOMBERG  -  679 words
    • Article
      Lock icon First of Vale’s mega ships heads for Asia
      267 19 Reuters [SINGAPORE] One of Brazilian mining giant Vale’s huge iron ore carriers, the world’s biggest, will arrive fully-loaded in Asia for the first time next week with a stop in Singapore, according to Reuters Freightviews data. The 3 8 8,000-tonne Berge Everest,
      Reuters  -  267 words
    • Article
      Lock icon Shanghai indexes to challenge Baltic’s
      298 19 Bloomberg [SHANGHAI] Shanghai Shipping Exchange, based in China’s busiest port, will introduce indexes tracking international dry-bulk and oil-tanker rates next year as it challenges London’s 267-year-old Baltic Exchange. The Chinese bourse plans to begin trading of derivatives tied to those indexes in May or June,
      Bloomberg  -  298 words
    • Article, Illustration
      Lock icon Airbus targets Japan’s budget airlines to boost sales
      384 19 It’s looking to break Boeing’s near monopoly with established carriers AFP [TOKYO] European aircraft giant Airbus said yesterday it was targeting Japan’s fledgling low-cost airlines to boost its business in the country, ratcheting up a battle for market share with rival Boeing.
      AFP; BLOOMBERG  -  384 words
    • Article
      Lock icon FedEx may order 30 Boeing 767-300 freighters
      290 19 Bloomberg [NEW YORK] FedEx Corp plans to order about 30 Boeing Co wide-body freighters to replace older, less fuel efficient jets at the world’s largest cargo airline, three people familiar with the matter said. The order may be announced as soon as next
      Bloomberg  -  290 words
  • Page 19 Advertisements
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  • EDITORIAL & OPINION
    • Article, Illustration
      Lock icon East or West, economies are all in it together
      812 20  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent THE theory that Asia had somehow managed to “decouple” economically from the West always was rather simplistic, and it has been made to look even more so by the findings of an Asian Development
      812 words
    • Article, Illustration
      Lock icon Saving resources with a tax on their total use
      988 20  -  Reward products with longer life spans and penalise those with shorter ones By JOERGEN OERSTROEM MOELLER The writer is visiting senior research fellow, Institute of Southeast Asian Studies, Singapore, and adjunct professor, Singapore Management University Copenhagen Business School THE gloom about
      REUTERS  -  988 words
    • Article
      Lock icon Europe can’t offshore its problems
      830 20  -  By in Brussels DANIEL GROS The writer is director of the Center for European Policy Studies Project Syndicate EUROPEAN policymakers like to extol the strength of the eurozone: relative to the United States, it has a much lower fiscal deficit (4 per cent of GDP,
      Project Syndicate  -  830 words
    • Article, Illustration
      Lock icon Eurozone leaders finally get it
      1581 21  -  For the fist time since the debt crisis, governments and the ECB are focusing their attention on the necessary steps By CHARLES WYPLOSZ The writer is professor of international economics at the Graduate Institute, Geneva WE SEEM to be watching a delicate ballet. All of
      AFP  -  1,581 words
    • Article
      Lock icon IDs need to be truly independent
      490 21  -  LETTERS TO THE EDITOR R James P Morton Chief Investment Officer Santa Lucia Asset Management Pte Limited I REFER to recent discussions of the role of independent directors in companies that encounter controversy and questionable transactions, particularly in the real estate investment trust (Reit)
      490 words
    • Article
      Lock icon Timing of K-Reit’s Ocean Financial Centre deal was problematic
      543 21  -  Vincent Tan I REFER to the two articles by Jamie Lee, “K-Reit nudged parent to get hands on OFC” and “K-Reit voting prompted query from MAS” (BT, Dec 6). I found K-Reit CEO Ng Hsueh Ling’s arguments on the issues of
      543 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      7835 22 Transaction date: Dec 8 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 21 11.6 8Telecom 15.5 10.5 14.5 7.8 3.9 3.2 74.2 9.5 4.1 A-Sonic 4.6 +0.1 86 4.6 4.5 4.6 5
      7,835 words
    • Article
      Lock icon SGX CATALIST
      1553 23 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 34 12.1 t 800 Super 12.4 unch 10 12.4 12.4 12.5 13.2 4.7 4.4 4.8 22.2 5.5 2.5 t AA Grp 3.3 2.5 3.3
      1,553 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      9983 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.16/ APS Alpha Fund (USD)!** 0.91/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.6/ Aberdeen Asset Mgt Asia Limited American Opp 0.6318/ Asian Credit Fund
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    • Article
      Lock icon GLOBALQUOTE
      248 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 55.5 34 AVJennings A34 34.5 43 3.6 10.3 2.7 88.5 49 25.5 Genting HK US$ US27.5 -0.5 5977 28 27.5 27 27.5 1810.7 15 10 OGL Resources
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    • Article
      Lock icon SGX ETF
      873 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 108 ABF SG Bond ETF 116.3 -0.3 4 116.3 116.3 115.1 119 530.9 1261 856 CIMBAsean40 100US$ US968 -6 0 968 968 959 969 38.7
      873 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 24 In local curr In S$ In US$ dy yr dy yr dy yr Dec 7 Index Change Change Change Change Change Change World Preliminary 833.3 -0.1 -7.2 0.2 -6.4 0.0 -6.8 EAFE Preliminary 690.3 0.2 -13.8 0.7 -12.5 0.4 -12.9 Europe Preliminary 1024.4 -0.3 -12.3
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      77 24 CRUDE OIL PRODUCTS Dec 7 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.00 -0.10 WTI (Near Mth) 100.41 -0.77 Dubai (1-Mth F) 107.45 0.63 Tapis blend 117.82 0.60 Minas 115.22 0.60 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.44 1.77 Jet Kerosene 127.05 2.00 US$/barrel Opec Oil
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    • Article
      Lock icon CHICAGO BOT
      107 24 Dec 7 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 12 1131.00 1129.50 1137.00 1123.75 Mar 12 1141.00 1139.50 1146.75 1133.50 May 12 1151.25 1149.75 1157.00 1143.75 Jul 12 1161.00 1159.75 1166.75 1153.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 11 50.24
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    • Article
      Lock icon GOVERNMENT SECURITIES
      81 24 Dec 8 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 08.03.2012 0.33 1-Year BY*****W 01.11.2012 0.32 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.01 103.09 103.09 5-Year N*****0W 1.125 01.04.2016 101.97 102.12 102.10
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    • Article
      Lock icon SGX DERIVATIVES TRADING
      451 24 Dec 8 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec11 99.4525 0 3276 Mar12 99.4050 0 3230 Jun12 99.3800 0 1053 Sep12 99.3700 0 351 EUROYEN TIBOR FUTURES Dec11 99.6725 0 4632 Mar12 99.6600 0 1937 Jun12 99.6625 0 1440 Sep12 99.6575 0 711 Dec12 99.6650
      451 words
    • Article
      Lock icon SGX FUTURES
      159 24 Dec 8 SICOM RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 12 356.0 356.0 356.0 10 295 Feb 12 360.9 360.9 360.9 20 213 Mar 12 363.5 297 Apr 12 368.0 144 May 12 371.4 253 Jun 12
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    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      121 24 As on 7 December 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METALS GOLD FUT FEB2012 1741.70 1724.30 1744.50 95 SILVER FUT MAR2012 32.720 32.670 32.610 25 CURRENCY AUD-USD FUT DEC2011 1.0282 1.0232 1.0269 1488 EUR-USD FUT DEC2011 1.3453 1.3351 1.3416 7275 USD-JPY FUT
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    • Article
      Lock icon LONDON METALS
      71 24 Dec 7 Dec 7 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2070.25 2107.50 3 months 2078.00 2113.00 Copper, Grade A (US$/tonne) Cash 7793.00 7809.25 3 months 7820.00 7835.00 Lead (US$/tonne) Cash 2128.75 2105.50 3 months 2148.00 2125.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon STOCK INDEX FUTURES
      24 24 Dec 8 Open High Sett STI Dec 2723 SIMSCI Dec 315.2 315.6 308.2 Taiwan Dec 252.9 253.6 249.0 Source: SGX Derivatives
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      2032 24 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 2 1 150 55 49.00 29 ASJ Hldgs W*****1 0.1 1 4 17 35.00 2 AlliedTech W*****2 1.7 1 4 23 Aztech Grp W*****3 0.2 1 20 124
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    • Article
      Lock icon LIFFE
      82 24 Dec 7 COCOA (£/tonne) Close Prev High/Low Dec 11 1334 1359 1370/1333 Mar 12 1383 1407 1422/1381 May 12 1400 1422 1437/1398 Jul 12 1417 1439 1453/1415 COFFEE (US$/tonne) Close Prev High/Low Jan 12 1953 2010 2033/1947 Mar 12 1990 2044 2067/1983 May 12 2017 2070 2092/2010 Jul 12
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    • Article
      Lock icon INTERBANK CROSS RATES
      464 24 Dec 8 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.039 6.548 0.767 8.002 53.261 93.344 0.799 11.640 3.223 1.318 91.893 44.547 1.325 8.287 0.949 31.047 31.646 0.655 1.029 Canada 0.963 6.303
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    • Article
      Lock icon SIBOR
      82 24 Dec 8 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • Article
      Lock icon PRECIOUS METALS
      138 24 Dec 8 GOLD (US$/oz) Dec 08 Dec 07 Hong Kong 1745.00 1734.20 Dec 07 Dec 06 London 1729.70 1709.29 1730.45 1710.40 Source: Thomson Reuters CAST BAR Dec 08 (S$) Selling Buying Kilobar 77,135.23 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 173 72 5gm 491 359 10gm 876
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    • Article
      Lock icon PALM OIL
      57 24 Dec 8 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 11 3069.0 3060.0 3080.0 3069.0 56 1255 Jan 12 3092.0 3083.0 3109.0 3083.0 752 8373 Feb 12 3094.0 3089.0 3116.0 3083.0 7989 ***** Mar 12 3093.0 3087.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 24 Dec 8 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3241 1.3255 1.0290 1.0293 Canadian dollar 1.2744 1.2759 0.9904 0.9908 Euro 1.7274 1.7290 1.3424 1.3426 NZ dollar 1.0042 1.0058 0.7804 0.7810 Sterling pound 2.0203 2.0224 1.5700 1.5704
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 24 Dec 8 S$ Bid Offer 1-month 1.2868 1.2878 2-months 1.2867 1.2878 3-months 1.2866 1.2876 6-months 1.2849 1.2863 Source: OCBC
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 24 As at 9am Dec 08 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.349 1.285 Can dollar 1.294 1.245 Euro 1.752 1.685 Sterling pound 2.052 1.974 NZ dollar 1.03 0.981 US dollar 1.303 1.253 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      154 24 Dec 8 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 3/16 2-months 5/16 3/16 3-months 5/16 3/16 Overnight mode: 0.05 US$ Offer Bid 7 days 0.30 0.20 1 month 0.50 0.30 2 months 0.55 0.35 3 months 0.65 0.45 6 months 0.90 0.70 9 months 1.10 0.90 12
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    4619 25 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
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  • Page 25 Advertisements
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      Lock icon Page 25 Advertisements Column 1
      26 25 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? To All Shipping Advertisers: Please call Joe Wong at 9620 1327
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  • Page 26 Advertisements
    • Advertisement
      Lock icon Page 26 Advertisements Column 1
      158 26 Shipping lines seeking reliable logistics partners Can they -Find your services Here in the Shipping Times? ADVERTISI JOE WONG 9620 1 THE BUSINESS TIMES SHIPPING TIMES FOCUSING ON RESULTS tt u u All these years, SPH has successfully generated significant results for HN our advertisements. Through publicity in The Straits
      158 words
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  • executive lifestyle
    • Article, Illustration
      Lock icon ON AN East-West groove
      2148 27  -  It’s not about just throwing in the token pop tune from a different language. A new breed of music venue is explicitly branding itself as a bilingual space and splitting playlists right down the middle, reports DEBBIE YONG THEY were buddies at university, colleagues in the
      PHOTO-ILLUSTRATION: MOHD KHAIRIE; PHOTOS: COCO, SWITCH, SHUFFLE BISTRO BAR  -  2,148 words
    • CINEMA
      • Article, Illustration
        Lock icon Schmaltz to a fault
        567 28  -  By DYLAN TAN LIKE a holiday pudding, director Garry Marshall’s ensemble rom-com New Year’s Eve is overly sweet and full of empty calories. But like all desserts, resistance is futile. The mouthwatering all-star cast alone offers more bang for your buck than any other blockbuster and
        WARNER BROS  -  567 words
      • Article, Illustration
        Lock icon Muppets steal own show
        441 28  -  By DYLAN TAN IT’Sbeen more than a decade since the Muppets last had a big-screen outing and despite the advances in technology, things are kept simple here. Hence, no fancy 3D or CGI like the recent Alvin and the Chipmunks, Yogi Bear and The Smurfs films;
        441 words
      • Article, Illustration
        Lock icon French toast to a quirky film
        848 28  -  By MAIA DE LA BAUME AP WHEN it was released last month, Intouchables seemed an unremarkable, low-brow French comedy, a small-budget film with actors little known outside France hamming it up in a story about a stodgy, disabled aristocrat and the good-humoured ex-con whom
        AP; GAUMONT  -  848 words
      • Article, Illustration
        Lock icon Indie trumps blockbusters
        718 28  -  French films ride the crest of a newfound artistic surge, reports DYLAN TAN WITHsolidgovernmentfund-ing and support from local audiences, filmmakers in France are a lucky bunch. This, according to three visiting French directors who are here for the Societe Generale Private Banking 1st Rendezvous with French Cinema,
        PHOTOS: RAPHAEL MILLET  -  718 words
    • MUSIC/ENTERTAINMENT
      • Article, Illustration
        Lock icon Live jive
        1120 29  -  Songwriter, solo Chinese album producer and actor Tan Hanjin won’t rest till he adds ‘livewire’ to his accomplishments, he tells CHRISTOPHER LIM SUCCESS SUCCESS isn’t enough for some people. They have to chase their dreams too, and aren’t satisfied with merely getting close. Such is the case with
        1,120 words
      • Article, Illustration
        Lock icon Visually driven role-play romp
        590 29  -  GAMING REVIEW By CHRISTOPHER LIM ONE of the biggest gaming frustrations is moving your character towards a promising vista only to bump into an invisible wall that constrains you to a prescribed path and narrative. No, you have to walk here first before walking there and
        590 words
      • Article, Illustration
        Lock icon Saving the best for last
        551 29  -  DVD REVIEW By CHRISTOPHER LIM LOTS of people were sad when hugely successful film franchise Harry Potter wrapped up studio Warner Brothers mourned the loss of a cash cow, fans dreaded the end of a dream, and actors feared closing a defining period of their
        WARNER BROS  -  551 words
    • BOOKS/ARTS
      • Article, Illustration
        Lock icon CSI, 1930s Beijing
        974 30  -  The death of a teenage British girl in turbulent old Peking provides the grist for author Paul French to breathe life into a 75-year-old cold case, reviews DEBBIE YONG Midnight in Peking Paul French Penguin 268 pages $39.95 Rating: AATEENAGED British girl is brutally murdered in 1930s
        974 words
      • Article, Illustration
        Lock icon Trip the i Light fantastic
        741 30  -  By CHEAH UI-HOON IF this year’s blue-and-silver Christmas lights complete with blue daisies have got you all trigger-happy camera-wise, another opportunity is on the cards with the i Light Marina Bay festival in March. Thirty light art works will be put up in a 3.5-kmareaaroundMarinaBaythen–itfol-lows
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      • AROUNDTOWN
        • Article, Illustration
          Lock icon Mambo with the cosmos
          155 30 WHILE artist Amin Gulgee’s father, Ismail Gulgee, might be a bigger name in the international art world, make no mistake that Gulgee junior doesn’tfalltoofarbehind.Comethisweek,artaficionados can see why, as the Pakistani artist makes his debut with Cosmic Mambo, a solo exhibition at ION Art Gallery (right). His
          155 words
        • Article
          Lock icon Monteiro-Hasselbach Project jams on
          201 30 Food and retail outlets aren’t the only ones jumping on the Pop-up concept wagon. From next weekend, a jazz club will be “popping up” at different places from time to time. In its inaugural session, The Showtime Occasional Jazz Club will be featuring The Monteiro-Hassel-bach Project,
          201 words
        • Article
          Lock icon Flamenco fires up the stage
          194 30 Flamenco dance lovers are usually split into two categories: those who love the dance in its most traditional form, and those who prefer a more modern interpretation of it. Come this weekend, you get to take your pick, as Flamenco Sin Fronteros is offering two
          194 words
        • Article
          Lock icon Indian art takes centre stage
          144 30 Galleries Paradox and Galerie Steph are joining forces to bring together five contemporary Indian artists for the exhibition Deep In The Mind. Combining some of India’s most established artists with its upcoming talents, the exhibition showcases 10 works by Paresh Maity, A V Ilango, Chila
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        • Article
          Lock icon Voilah! Hip-hop holds sway
          136 30  -  Compiled by NATALIE KOH As part of the Voilah! French Festival Singapore, French-Laotian choreographer Ole Khamchanla will be choreographing a dance with other instructors from O School, Singapore’s leading hip-hop dance school. The joint-choreography culminates into a performance, Listen, which will be a subtle mix of
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    • ARTS/WINE
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        1555 31  -  With a Ho-Ho-Hokkien-speaking Santa Claus at the Esplanade this year, a Shanghai’d The Nutcracker and Korean carols, local stage productions are decking their halls with all things Asian to spice up the Yuletide arts season, reports NATALIE KOH CHRISTMAS songs, stories and shows are long-standing
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        1009 31  -  WINE: LA PAULEE DE MEURSAULT 2011 By N K YONG TO KEEP count of the number of wines I tasted, I numbered them as I tasted them and wrote my notes and my list totalled 58! Not too far off from the 70-plus that Dominique
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      306 29 CRYPTIC CROSSWORD Across 1 Float starts to wobble about festival thrills! (4) 3 Newspaper’s big bedroom feature coverage? (10) 9 Uproar when Old Testament goes beyond religious instruction (4) 10 Appearance of mental condition I will take on (10) 11 Hit the drink in sympathy (7) 13 I may get
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      69 32 j O O S A/ a s<t z m 'y. Ay 6 n .>* a y\_ *o< 7 A >y i /xyvXr i*o, Wi <T y&tCO v "s X V X °0 vY^ L «y Al vX /> CO 4UPA a ■f </* ZX JEM ;cn •y iH CO B22
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      526 1 Cate Blanchett Philippe Starck Tsui Hark Luca Cordero di Montezemolo Liu Xiao Dong Vivienne Westwood Moshe Safdie Wilbur Ross Jr Rupert Grint David Foster Karim Rashid Ferran Adria Nathan Myhrvold Simon Rogan Raymond Blanc Pascal Sven Chartier Tim Harford Jay Leno Cate Blanchett Philippe Starck Tsui Hark Luca Cordero di
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      34 3 PATEK PHILIPPE GENEVE Begin your own tradition. You never actually own a Patek Philippe. You merely look after it for the next generation. mm Annual Calendar Chronograph Ref. 5960P Tel: (65) 6732 1506 patek.com
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      291 4 08 Contents 12 14 Philippe Starck The enfant terrible of the design world opens up about life, the universe and why you don’t need another designer toothbrush 16 Vivienne Westwood In between jetsetting from one country to another, fashion doyenne Vivienne Westwood finds time to champion environmental causes 18 Moshe
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      63 5 Loved since 1885... ALFABERGE ORIGINAL DESIGN BY W. e> roe Km Treasured by the Russian Tsar. Passionately crafted by Carl Faberge, the famed royal jeweller. Prized as a symbol of life and rebirth. The legacy of Faberge lives on in the ALFABERGE miniature egg collection. ALFABERGE miniature egg jewellery timeless,
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  • THE BUSINESS TIMES Luxe Christmas
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      493 6  -  Jaime Ee Editor, Luxe Christmas EDITOR’S NOTE A WORLD without passion is a little bit like life without ice cream. You can survive fine without it, but it sure limits the depth of your dessert experience. And life in general. The personalities who appear in Luxe Christmas’s The
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      Lock icon SEXY COMEBACK
      1620 8  -  Clever retorts and witticism aside, it’s a bevy of motorised beauties that has talk show legend Jay Leno all in glee. By Jeremy Hart P ALM trees and Baywatch beaches hardly sell Los Angeles as a winter wonderland. But, LA is home to Hollywood and so, if the
      PHOTO: PATRICK GOSLING, INCWORD.COM; PHOTO: REUTERS; PHOTOS: BILL NATION; PATRICK GOSLING, INCWORD.COM  -  1,620 words
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      Lock icon CITIZEN CATE
      746 12  -  Award-winning Australian actress Cate Blanchett believes everyone can do more to save the environment. environment. By Dylan Tan E ARLIER this year, Australian actress Cate Blanchett found herself in one of the most controversial roles in her career. Appearing in a television commercial where she voiced her support
      PHOTO: SK-U  -  746 words
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      Lock icon STARCK REALITY
      1581 14  -  The enfant terrible of the design world opens up about life, the universe and why you don’t need another designer toothbrush. By Jaime Ee HILIPPE Starck’s office is surprisingly stark. Nondescript building in Paris’s 16th arrondissement. Barely there signage. All-white, utilitarian work spaces. Okay, a few funky lamps
      PHOTOS: S+ARCK NETWORK  -  1,581 words
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      861 16  -  In between jetsetting from one country to another, fashion doyenne Vivienne Westwood finds time to champion environmental causes. By Clarissa Tan F ASHION doyenne Vivienne Westwood creates clothes that are up-to-the-minute, but her main concern these days is to make sure things last. It’s hard
      PHOTO: CHRISTIAN SHAMBENAIT; PHOTO: JUERGEN TELLER  -  861 words
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      Lock icon HOUSE CALL
      1594 18  -  The very private Moshe Safdie offers a rare peek at his personal homes and shares his desire to design for a greater purpose. purpose. By Debbie Yong IS resume is dotted with iconic challenges like the United States Institute of Peace, the Holocaust History Museum in Jerusalem and
      PHOTOS: SAFDIE ARCHITECTS; THE IMAGES PUBLISHING GROUP  -  1,594 words
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      Lock icon HARK BACK TO GOOD TIMES
      977 20  -  Hong Kong’s cinema game changer Tsui Hark refuses to bask in the glory of his success. He won’t rest until his films are perfect, even if it means remaking them from scratch. By Dylan Tan ITH his obsessive attention to detail and notoriety for being
      PHOTOS: GOLDEN VILLAGE PICTURES  -  977 words
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      Lock icon A LIFE LESS ORDINARY
      913 22  -  After retiring from showbiz, Hong Kong actress Siao Fong Fong is still in the limelight, but for the community work she does to help victims of child sexual abuse. By Dylan Tan L IKE a coin, there are two sides to Hong Kong actress Siao Fong
      PHOTOS: END CHILD SEXUAL ABUSE FOUNDATION  -  913 words
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      Lock icon CROWN PRINCE OF SPEED
      1508 24  -  On the race track and in business, Ferrari is a force to contend with. And driving the prancing horse to break new ground is its chairman Luca Cordero di Montezemolo. By Jaime Ee L UCA Cordero di Montezemolo. You really have to hand it to the
      PHOTOS: FERRARI SPA; FERRARI SPA, STUDIO COLOMBO; PHOTO: AP  -  1,508 words
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      1596 26  -  Be it venturing into space tourism or bankrolling a deep ocean expedition, Richard Branson believes in having fun as life’s too short to play it by the book. By Daven Wu W ALK into any bookstore these days and in the management section, you’ll find endless
      PHOTOS: MARK GREENBERG; SCOTT B  -  1,596 words
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      607 28  -  With gold becoming more alluring as a safe-haven investment, fashion spotters are also taking a shine to the precious metal. By Cheah Ui-Hoon T HE roller-coaster highs and lows of the world economy has resulted in gold glittering ever brighter as the yellow metal is now seen as
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      Lock icon SPARKLE ON
      677 30  -  Luxe Christmas highlights a selection of statement jewellery pieces that carry anything from hints of Asian mysticism to contemporary flair perfect for the party season ahead. By Cheah Ui-Hoon CHIC(KEN) AND EGG Why not see your jewellery pieces as an investment? Russian jewellery company Alfaberge created the Spring
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      Lock icon ME, MYSELF & I
      634 32  - ME, MYSELF I Individualism’s the rule of the day as designer jewellery goes mainstream in Asia. By Cheah Ui-Hoon S KULLS and studs, human skeletons and even replicas of human hearts and female lips set in styles which are gothic, ethnic, bohemian or antique are the kind of jewellery that
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      753 34  -  This Christmas, indulge in merrymaking all through the holidays. Put on a game face and up the party stakes. By Dylan Tan stakes. By Dylan Tan HAPPY HOUR Montblanc’s Vintage Pulsographe pays tribute to the history of chronograph watches in every imaginable way. Its 39.5mm diameter case is
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      871 36  -  Contemporary artist Liu Xiao Dong sees ordinary folk as the lifeblood of art and paints to show life as it is in China. By Cheah Ui-Hoon H E is one of the most celebrated contemporary Chinese artists and possibly the most filmed painter in the Chinese
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      Lock icon ART VISIONARY EXTRAORDINAIRE
      864 38  -  When American billionaire Wilbur Ross Jr isn’t busy buying troubled companies, he’s indulging his lesser known passion modern Chinese art. By Daven Wu W HEN Wilbur Ross Jr tells you that he loves contemporary Chinese art, you should sit up and pay attention. A private equity investor
      PHOTOS WWW.MICHAEUV1CAULIFFE.US  -  864 words
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      Lock icon David Foster
      601 39  -  The GiftsbyCristopherLimGifid Interview by Melissa Lwee-Ramsay Christmas with... The GiftsbyCristopherLimGifid by The GiftsbyCristopherLimGifid by Melissa Lwee-Ramsay THE GIFTS The GiftsbyCristopherLimGifid Christmas was a huge tradition for me when I was a boy growing up in Canada, and it’s equally big in America. People tell me that Thanksgiving is
      PHOTO: UNIVERSAL MUSIC  -  601 words
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      Lock icon Karim Rashid
      644 40  -  Interview and gift ideas by Melissa Lwee-Ramsay Christmas with... THE GIFTS I recall when we first arrived in Montreal in 1967, I don’t think my family ever saw snow like that coming as we did from London, Rome and Cairo. We were quite poor then. Instead of a
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      Lock icon Ben Elliot
      608 41  -  Interview and gift ideas Christmas with... by Melissa Lwee-Ramsay THE GIFTS I come from a very close-knit family, and so Christmas was always very important to us. I spent most of the holiday period down in Gloucestershire, and this year I am looking forward to spending time down
      PHOTO: QUINTESSENTIALLY; SUNNY SPORTS, EVIL TWIN TIE PHOTOS: YEN MENG JIIN  -  608 words
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      Lock icon Rupert Grint
      654 42  -  Interview by NatalieKoh Gift ideas by Natalie Koh Melissa Lwee-Ramsay Christmas with... by Natalie Koh by Natalie Koh Melissa Lwee-Ramsay THE GIFTS I’ve always had a good set of Christmas memories as a kid. We’ve got this routine I’m from a big family of seven, so there’re lots
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      Lock icon FROM HOME... ... TO HAUTE
      1749 44  - FROM HOME... TO HAUTE One’s a family cookbook, the other embraces cuisine innovation. Together, Ferran Adria and Nathan Myhrvold find common ground between traditional and scientific cooking. By Jaime Ee B EHIND every successful culinary wunderkind is a good hamburger. Such could be the mantra of Ferran Adria the high
      PHOTOS: THE FAMILY MEAL, WWW.PHAIDON.COM; PHOTOS: MODERNIST CUISINE  -  1,749 words
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      Lock icon NATURALLY LOCAL
      1557 46  -  Chefs in London and Paris turn to nature in pursuit of the next big culinary thing. Here’s what they’ve dug up. up. By Jaime IMON Rogan is annoyed with a cow. “Awww, what’s it doing there? It’s supposed to be over with the sheep. No, no, don’t do
      PHOTOS: L'ENCLUME; SAMUEL EE  -  1,557 words
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      Lock icon AT HOME WITH ENGLISH
      630 48  -  It’s in French chef Raymond Blanc’s food culture to champion local produce. By Natalie Koh L E MANOIR AUX QUAT’ SAISONS is every bit a French restaurant, serving French food, headed by an authentic Frenchman, but the restaurant, located in Oxford, England, is known for serving
      PHOTOS: ADRIAN HOUSTON; SAMUEL EE  -  630 words
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      Lock icon TASTE OF THE LAND
      1240 49  -  French chefs return to their roots to cook with what nature provides. By Jaime Ee W AY before Rene Redzepi was even a DNA molecule, France had terroir it’s a winemaker’s word but it’s also a kind of romantic way to describe a land from which
      PHOTOS: JAIME EE  -  1,240 words
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      Lock icon Presents of mind
      761 50  -  When it comes to gift giving, it’s not always as simple as a thought that counts, says economist Tim Harford Tim Harford The writer is “The Undercover Economist” for the Financial Times. His latest book is Adapt: Why Success Always Starts with Failure O NE recent Christmas,
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      126 6 44 FOOD 44 From home to haute Ferran Adria and Nathan Myhrvold find common ground between traditional and scientific cooking 46 Simon Rogan Chefs in London and Paris turn to nature in pursuit of the next big culinary thing. Here’s what they’ve dug up 48 Raymond Blanc It’s in French
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      190 7 190 YEARS AGO A MAN BET ON HORSES AND CHANGED WATCHMAKING FOREVER. nA V". \0 '/'A 1 k. Q? <$> o ss CD CD o M o N A NC *S in 8 LY AC w O ?b" Q? y C A 7 f W? ffl In 1821, at a
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      67 11 PAN E R AI y ##1 M V: I r w -I K O R l_ LJ IS/1 N F>/\ rsi A MT G K 1 3 Oft D am ■S o DAYS V 1 < rrr \"Y ARTANDSCIENCE LU MINOR 1950 10 DAYS GMT 44MM PAN ERAI LABORATORIO DI
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      108 13 'V W. $0$. W I m m n f h> r /<#y (p> K One heart Three legends HI •A' 8 9 I 1 1 I I I 6 i/ i V N ■I a v iiiJlIl LING V NAVITIMER CHRONOMAT TRANSOCEAN With its Manufacture Caliber 01, Breitling has created
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      175 17 www.landrover.com.sg v An. \S \s LET IT SNOW, LET IT SNOW, LET IT SNOW.. i "J If, WA W £3 eST a \s u D ry L -i i A 4 ii Adaptive Dynamics with advanced MagneRide™ is one of the Range Rover Evoque's many feats of engineering which shows
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      207 21 THE MOST POWERFUL STATEMENTS ARE QUIETLY MADE. THE LEXUS LS. The leader sets the standards for others to follow. With so many world firsts, the Lexus LS is that leader. And every leader deserves the highest levels of comfort. There is no better space for thought than in the silence
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      39 29 o o LL < o o o 9 X) CD X Q_ v> 4 r 'J S V.jT 4fr* ypt* r i r A 4 **-v W" V o Q. SINGAPORE 581 ORCHARD ROAD 01-17 HILTON SHOPPING GALLERY TEL. *****360
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      94 31 A DIAMOND S FOREVER A i. <■** J". 1 4 .-v.-,-. «M "}'-.r' ff :0.'" 'J-VVNT ,-i. -"7-v s$r -i 1 %X-: *>•' *v'"%g£g^j; > r 7 If- 1 r < T-' fitlWl «'-|3& >'' r 77/ «?7 =r St 1 v S <, I .-> •'V, 4 V' V
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      37 33 □N CHEONG JEWELLERY r-s Vi reatkmA/o-p it recmtwn S M www.oncheong.cominfo@oncheong.com Head Office: 251 South Bridge Rd S(*****0) Tel: 6223 4788 Fax: 6221 1228 Branch: 239/241 New Bridge Rd S(*****8) Tel: 6323 5833 Fax: 6323 5933 Anniversary
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      116 37 Our vision is now complete. It is time to create yours. Discover the new Space Asia Hub, Singapore's new home of premium design. Now open at 77 Bencoolen Street. Brands available at Space Asia Hub: riJJ* |p5.. AwSj 1 v* iiMsgJ ;|iiA, N Mvwm l||| in 1 i V v
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      141 43 3 H <r ;71Pr J** f- J* C3 •v f .--V -.ML*, 'M (L »,>>.. %Qi Sss v 5NSKec. .W Refined Defined a 4, Introducing BLACK THE WORLD'S FINEST BEAUTYREST® Revered and regarded as the ultimate name in bedding, Simmons introduces the finest Beautyrest® yet. The redefined Simmons® Beautyrest Black®
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      184 51 SHAKE UP THE CHRISTMAS GLITZ REVEL IN THE MAGIC OF CHRISTMAS AT ION ORCHARD 18 NOV-25 DEC 2011 A QUINTESSENTIALLY REWARDING CHRISTMAS Stand a chance to win a vacation for 2 to Hong Kong with $100* spent in a single transaction. Scan the glittery QR code in the snow globe
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      158 52 LIVE FOR GREATNESS EVERY ROLEX IS MADE FOR GREATNESS. THE YACHT-MASTER II HAS BEEN DESIGNED TO MEET THE NEEDS OF PROFESSIONAL SAILORS. IT IS THE WORLD'S FIRST COMPLICATION BUILT WITH A PATENTED PROGRAMMABLE COUNTDOWN AND MECHANICAL MEMORY, ENSURING PER 6ECT SYNCHRONISATION WITH THE START TIME OF ANY REGATTA. 4 "V
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