The Business Times, 14 May 2012

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, May 14, 2012
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  • 867 1  -  This is despite S’pore’s reputation as arbitration hub By VEN SREENIVASAN [SINGAPORE] Although Singapore has established itself as one of the world’s leading international commercial arbitration hubs, many local firms involved in cross-border disputes still find themselves being dragged to more expensive
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  • 756 1  -  Supply-demand outlook suggests limited risk but geopolitics could derail forecasts By KENNETH LIM [SINGAPORE] The supply and demand outlook for oil suggests limited risk to economic growth and inflation in Singapore, although highly unpredictable geopolitical risks still threaten to throw forecasts off, economists
    AFP; Source: Bloomberg  -  756 words
  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 2,883.40 -107.19 KL COMP 1,584.32 -6.72 NIKKEI 225 8,953.31 -426.94 HANG SENG 19,964.63 -1121.37 SET INDEX 1,191.01 -36.40 JAKARTA COMP 4,114.14 -102.54 MANILA COMP 5,158.14 -139.41 SEOUL COMP 1,917.13 -72.02 SHENZHEN B 661.42 -14.81 MUMBAI IND 16,292.98 -538.10 DOW 12,820.60 -217.67 NASDAQ 2,933.82 -22.52 S&P
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    • 18 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.035 JAPAN 1.475 KOREA Source: Bloomberg
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    • 49 1 us$ s$ US$ (S$ per US$) 1.251 (US$/S$ per 1.612 2.016 EURO (US$/S$/E) 1.294 1.619 Foreign currency per US$ S$ YEN 79.90 63.80 RM 3.072 2.455 HK$ 7.765 6.205 BAHT 31.24 24.97 RUPIAH 9,208 7,359 RENMINBI 6.311 5.043 INDIAN RUPEE 53.56 42.81 A$ 0.996 0.796 NZ$ 1.277 1.021
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  • Page 1 Advertisements
    • 187 1 S’PORE ARTS FESTIVAL Channelling the voice of Jade page 21 DINING OUT Meat and more at Masa PAGE 23 YOUNG INVESTORS’ FORUM The art of technical analysis PAGE 11 VIEWS FROM THE TOP Ways to rationalise the COE system pages 12-13 E n O c o to c m ■Mj
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    • 23 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. *****1 *****4
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  • TOP STORIES
    • 577 2 Oil prices present wild card for economy THE supply and demand outlook for oil suggests limited risk to economic growth and inflation in Singapore, though highly unpredictable geopolitical risks still threaten to throw forecasts off, economists said. They reckon a sustained 10 per cent increase in energy costs
      577 words
    • 899 2  -  After four rounds of increases since Dec, signs surface of rate undercutting By LYNN KAN [SINGAPORE] Container carriers may struggle with declining freight rates once again, as the successes of repeated imposed general freight rate increases begin to dim. Heavy first quarter
      Source: Alphaliner  -  899 words
    • 1061 2  -  REUTERS BREAKINGVIEWS By BREAKINGVIEWS COLUMNISTS JPMORGAN boss Jamie Dimon has eaten humble pie over the giant US bank’s unexpected trading losses. But key questions remain about the firm’s risk management, the role of regulators and the lessons that may be applicable
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    • 581 4  -  German bank pumps hundreds of millions of euros into this business each year By SIOW LI SEN [SINGAPORE] Germany’s Deutsche Bank continues to invest hundreds of millions of euros annually in its global transaction banking business to ensure it stays ahead of the game. The
      581 words
    • 603 4 Election problems in Greece raise risk of it exiting eurozone Reuters [NEW YORK] More volatility could be in store for US stocks this week as investors grapple with less certainty about the US economic outlook and a new blow to the
      Reuters  -  603 words
    • 364 4  -  By LYNN KAN [SINGAPORE] Industry association Intertanko gets a new managing director in July, but its concerns remain centred on the commercial headaches faced by its some 230 members over high bunker fuel prices and lower charter rates and earnings. Intertanko, whose executive
      364 words
    • 688 4  -  Strike comes after govt’s US$5.8b turnaround plan By NEETA LAL in New Delhi CAN Air India (AI) ever be resuscitated? It’s a debate that has intensified against the backdrop of a protracted strike by its pilots fast spiralling out of control and the
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    • 2649 4 Payment Ex Books Pay Ann (cts) date close date date 8Telecom Intl bn 0.053 30-Apr 03-May 21-May 05-Apr ABR Hldgs ak 1.000 04-May 08-May 28-May 13-Apr Action Asia ak 0.800 14-Jun 18-Jun 28-Jun 28-Mar Adampak Ltd ak 1.000 08-May 10-May 25-May 01-Mar Adv Integrated Mft ak 0.180 07-May
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  • Page 2 Advertisements
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  • Page 4 Advertisements
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  • COMPANY NEWS
    • 379 5  -  Tanah Investments will pay US$32.5m for shares in two Singapore firms By JOYCE HOOI A UNIT of SC Global Developments (SC Global) has exercised an option that would see the property developer eventually indirectly owning a resort development in Bali. The
      379 words
    • 387 5  -  By GLENN CHOO HANWELL Holdings, formerly known as PSC Corporation, has appointed Ho Shau Foong, 46, as its senior vice-president, and Erny Rusly, 37, as its group financial controller. Mr Ho, whose appointment will take effect on June 1, 2012, will be responsible for the overall
      387 words
    • 516 7 Formula One will be looking carefully at how markets react to Facebook’s IPO Reuters [BARCELONA] Renewed turbulence in global markets could put the brake on plans to float the Formula One motor racing business in Singapore next month, a source close to the
      Reuters; FILE PHOTO  -  516 words
    • 294 7 May 11 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Arab Bank PLC Bank Julius Baer Co. Ltd(S) 5 Banco Bilbao Vizcaya Bank of China Limited 5.5 Bank of Communications 5.5 6 Bank Julius Baer Co. Ltd(S)... Bank of New
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    • 306 7 COMPANY MEETING PLACE DATE TIME Hoe Leong Corp A Jurong Country Club, 9 Science Centre Road, (Albizia 1 at Level 2) Singapore *****8 14-May 9.30am See Hup Seng E 81 Tuas South Street 5, Singapore *****1 15-May 9.00am Centillion Envir E 65 Tech Park Crescent Singapore *****7 16-May
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    • COMPANY BRIEFS
      • 66 7 CHUAN Hup Holdings reported that its net profit for the third quarter ended March 31, 2012 rose 23.8 per cent from a year ago to US$12.77 million. Revenue surged from US$1.81 million to US$55.76 million, boosted mainly by the consolidating
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      • 52 7 CHEMOIL Energy said its net profit for the first quarter ended March 31, 2012 decreased 62 per cent from a year ago to US$8.82 million. The decline in earnings is despite a 36 per cent increase in year-on-year turnover to
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      • 90 7 KENCANA Agri announced a 54 per cent decrease in its net profit for Q1 2012 to US$2.15 million, from US$4.64 million a year ago. The steep fall in profits is due to the drop in crude palm oil and crude
        90 words
      • 67 7 SHIPBUILDER Jaya Holdings posted an 89 per cent fall in its third quarter net profit to US$3.76 million, from US$34.26 million in the corresponding period last year. It said the decrease in net profits was mainly due to gains from the disposal
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      • 73 7 KIAN Ann Engineering reported a 1.7 per cent increase in year-on-year profit to $4.64 million on revenue of $42.45 million, for the third quarter ended March 31, 2012. Revenue rose 5.1 per cent from a year ago, with sales in Indonesia
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      • 87 7 CDW Holding swung into the red for the three months ended March 31, 2012 with a net loss of US$254,000 against a net profit of US$1.03 million the year before. Revenue for the same period was down 19.1 per cent from
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      • 151 7 ELEKTROMOTIVE Group has entered into a settlement agreement with two people formerly part of a group from which Elektromotive is claiming about $7.4 million. The two, Gregory Carlyon Simmons and Michael Earle, had been part of a 2010 deal in which Elektromotive agreed a stake
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 604 6  -  STOCKS R SIVANITHY Senior Correspondent LAST week we suggested that unit value traded would, for the time being, make a better indicator of the market’s fortunes, given that there had been virtually zero interest in Straits Times Index stocks (STI) and/or large caps for several
      604 words
    • 533 6 CURRENCIES Reuters [SINGAPORE] The South Korean won suffered its largest weekly loss in nearly six months as foreigners sold the country’s stocks, while sustained political deadlock in Greece and disappointing factory data from China hurt emerging currencies around Asia on Friday.
      Reuters  -  533 words
    • 623 6 COMMODITIES AFP [LONDON] Commodity prices were mostly lower this week on renewed eurozone debt worries following political upheaval in Greece and France, and following disappointing economic data from China, traders said. Prices won some late support from better-than-expected US inflation and consumer sentiment data.
      AFP  -  623 words
    • 1431 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 2 10.00 11.80 1.42 1.18 Amtek Engg 2.20 2.17 5 0.07 7.52 0.90 0.64 ARA Asset Mgt 1.33 1.50 9
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    • 4 6 WEEKLY
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    • 64 6 May 11 VALUE CLOSE BT OB/OS -1054.00 -98.00 BT CADI -*****.00-214.00 BT 10-day MA -*****.00-105.00 FTSE ST Mid Cap 664.26 -3.69 FTSE ST Small Cap 434.81 -4.30 FTSE ST All Share 696.65 -4.81 FTSE ST China Top 200.83 -1.48 FTSE ST China 231.87 -2.63 FTSE ST Catalist
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    • 55 6 VOLUME JEL Corp 370,235,000 Golden Agri 340,323,000 UniFiber 324,671,000 TT Intl 294,760,000 Goldtron 288,828,000 JEP 247,522,000 HLH Grp 240,464,000 MDR 234,758,000 Genting SP 207,678,000 Plastoform 206,511,000 VALUE($) Wilmar 486,898,474 SingTel 460,101,910 DBS Grp 423,895,674 Keppel Corp 396,251,513 Genting SP 344,395,375 SembMar 315,582,750 Golden Agri 236,191,175 CapitaLand 206,065,180
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    • 118 6 BY CENTS CLOSE UP DBXT iBoxxSing 5SG$ ***** 326.0 2.5 DBXT AUD Bonds 5AU$ ***** 303.8 1.4 DBXT S&P Short 10US$ 3807 166.4 3.6 Asia Pac Brew 3450 140.0 4.2 DBXT iBoxxUSTr 5US$ ***** 73.8 0.3 DBXT FTVietnam 10US$ 2680 56.3 1.7 DBXT USDIGInfl 5US$ ***** 35.0 0.1 DairyFarm
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    • 128 6 BY CENTS DOWN CLOSE DOWN DBXT AUDCS 5SG$ *****-1066.0 -4.0 Lyxor ThaiSET 10US$ ***** -776.9 -5.5 DBXT Nifty 10US$ 9409 -663.1 -5.3 IS DJ US Tech 7292 -628.1 -6.4 GLD 10US$ ***** -608.0 -3.1 IS S&P500 ***** -593.0 -3.4 DBXT EONIA 5US$ ***** -462.9 -2.0 DBXT AUDCS 5US$ *****
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    • 5 6 WEEKLY
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    • 2198 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd UYING by directors rose while sellers recorded no trades last week based on filings on the Singapore Exchange from May 7 to 11. Eleven companies recorded 17 purchases worth $1.99 million, sharply up
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  • Page 7 Advertisements
    • 336 7 Plug into the latest market news and trade on the move with the SaxoTrader App. To make the right call, you need access to vital information, even when you're on the go. Get markets updates, prices and charts instantaneously on the award-winning SaxoTrader. Now available on your iPhone® or Android™
      336 words

  • Page 8 Advertisements
    • 735 8 CUTTING-EDGE STRATEGIES FOR WORKPLACE SUCCESS Who should attend: Sales Managers, Account Managers/ Executives, Social Media Specialists, PMEBs, Directors, Team Leaders and other General Management Professionals Register at www.stjobs.sg/seminars STJOBS FULL-DAY WORKSHOPS 11 May, 2012 (Fri) 25 May, 2012 (Fri) Workshop A 21st Century Sales Leadership Skills SPH News Centre (9.00
      735 words

  • Page 9 Advertisements
    • 67 9 reinventing the WOW in advertising The FIRST moving newspaper ad f 7 M L £\A/iiavites i 1 i SIGN UP NOW! Fancy being a VIP at a blockbuster attraction before everyone else? Getting invited to an A-list artist showcase? Cooking with Michelin-star chefs? ST Only in ST iPad To find
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  • SINGAPORE NEWS
    • 360 10  -  30 BCA Construction Productivity Awards to be given out to winners on May 24 By MINDY TAN FACED by the technical challenge of preventing excessive deformation of the sloping structure in their Marina Bay Sands Hotel project, Ssangyong Engineering Construction developed an innovative method that
      360 words
    • 370 10 SINGAPORE will be the launchpad for a big Bollywood musical in June when the Taj Express makes its world premiere at the Esplanade Theatre. Vaibhavi Merchant, one of Hindi cinema’s most sought after choreographers and her younger sister Shruti were in Singapore last Friday
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    • 327 10  - Drew Napier makes it eight in a row on ALB awards night By JOYCE HOOI DREW Napier clinched the Commercial Litigation Firm of the Year award for the eighth year in a row at the Asian Legal Business (ALB) Southeast Asia Law Awards 2012, held last Friday at Shangri-La Hotel.
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  • Page 10 Advertisements
    • 116 10 Want to Shine at ChildAid? BIGGER, BETTER BRIGHTER BE PART OF SINGAPORE’S BIGGEST CHILDREN’S CHARITY CONCERT. JUST LIKE THESE YOUNG TALENTS, YOU CAN SPREAD THE JOY OF GIVING AND HELP THE LESS FORTUNATE SIMPLY BY UNVEILING YOUR TALENT. EMAIL A VIDEO OF YOUR PERFORMANCE WITH YOUR NAME, AGE, CONTACT AND
      116 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 862 11  -  It involves studying the formation of stock prices into exotically named patterns and basing investment decisions on them. By MINDY TAN By ByMINDY TAN A HAMMER, harami cross, shooting star, hanging man, and dark cloud cover these are just some of the more colourful terms
      862 words
    • 1054 11  -  STARTING YOUNG By AMANDA EBER MAKING money from helping non-profit organisations might seem a little self-contradictory; but the founders of tech-social enterprise Start Now Volunteerism Advocacy have found that business opportunities can exist comfortably in that space. Ivan Chang and Keith Tan, both 23,
      YEN MENG JIIN  -  1,054 words
  • Page 11 Advertisements
    • 34 11 If you are 17-30 years old and have an interesting investing or entrepreneurial journey to share, do get in touch. Email btyif@sph.com. sg, with ‘Starting Young’ in the subject header, to tell us more
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    • 157 11 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      157 words

  • VIEWS FROM THE TOP
    • 2434 12 THIS WEEK’S TOPIC Do you agree that rising COE prices are affecting individuals and businesses adversely? Can the problems be solved by tweaking COE and vehicle-growth policy, or does more need to be done? Annie Yap Managing Director AYP Associates Pte Ltd YES, rising
      FILE PHOTO  -  2,434 words

  • Page 13 Advertisements
    • 139 13 Tomorrow needs commitment \y'\ V 4' 1 r-: I SSH SSS /I lif-im a SiZ U n is I K Se ,-vas 111 ■C "1*5 s*v? St sa s* iJSSBr m iss t. > TS-T 1 •r *v 8S< h i v <~ ji •.'< !>'■ 1 Vv *'.i Vh
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  • ECONOMY WATCH
    • 723 14 The European bank recently extended its mandate to North Africa Reu ters [LONDON] Facing a possible change at its helm, emerging Europe’s development bank risks stretching itself thinly as mission creep into North Africa eats up resources while the bank’s core charges feel the
      Reu ters  -  723 words
    • 754 14  -  Tokyo may gear up to intervene in forex markets: report By ANTHONY ROWLEY in Tokyo BANK of Japan (Bo J) governor Masaaki Shirakawa yesterday issued an unusually blunt warning in a published interview about the dangers of the central bank continuing to add to its
      AFP  -  754 words
    • 362 14 Reuters [ADELAIDE] Top crude exporter Saudi Arabia wants an oil price of around US$100 a barrel and would like to see global inventories rise before demand picks up in the second half of the year, Oil Minister Ali al-Naimi said yesterday. International Brent
      Reuters  -  362 words
    • 439 14 Bloomberg [SYDNEY] The profitability of mortgage lending in Australia will keep falling as competition among banks crimps margins, said National Australia Bank Ltd (NAB) chief executive officer Cameron Clyne. Margins will continue to narrow by about five basis points a quarter,
      Bloomberg; BLOOMBERG  -  439 words
  • Page 14 Advertisements
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  • MALAYSIA
    • 618 15  -  Budget carrier AirAsia girds up for cut-throat competition MALAYSIA INSIGHT PAULINE NG KL Correspondent RAFIDAH Aziz last week warned that airlines would have to be ready to face cut-throat competition in three years when Asean nations adopt an open skies policy. More particularly,
      BLOOMBERG  -  618 words
    • 1668 15 VOL May 11 RM +/-(‘000) VOL Advance Synerg 0.18 unch 248 Adventa Bhd 1.38 -0.07 17 Ae Multi Hldgs 0.25 -0.01 77 Affin Holdings 3.07 0.02 284 Ahmad Zaki Res 0.81 -0.01 265 Airasia Bhd 3.60 -0.05 5652 Alliance Finan 3.96 unch 857 Aluminium Co 0.84 unch 17
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  • Page 15 Advertisements
    • 181 15 (/\JC~~Cd S E N T O S A SINGAPORE A MILLION MOMENTS. ONE WORLD. With &\A/iHivites there’s really such a thing as a free lunch Weekday lunches are now more delectable with RWS Invites. Every Monday to Friday, from May till July, RWS Invites Members dine free with one paying
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  • GREATER CHINA/INDIA
    • 712 16 Free trade treaty could help fend off global economic chills, they say Reuters [BEIJING] China, Japan and South Korea agreed at a summit yesterday to launch negotiations for a three-way free trade pact they said could help fend off global
      Reuters; REUTERS  -  712 words
    • 500 16 AFP [NEW DELHI] India will lose vital foreign investment if state-run Norwegian telecom giant Telenor has to exit the country nursing multi-billion-dollar losses, a Norwegian minister warned. Telenor, which has a strong balance sheet, can absorb the US$3 billion investment write-off it would face
      AFP  -  500 words
    • 624 16 India’s businessmen turn to spiritual leaders for advice AFP [NEW DELHI]With banks deaf to his pleas for more money for his ailing airline and foreign investors yet to materialise, Indian liquor baron Vijay Mallya has turned to divine forces for assistance. The “King
      AFP  -  624 words
    • 865 16 The museums also help to show their refined sensibility AP [HONG KONG] Over the past two years, Wang Wei and her husband Liu Yiqian dropped a reported US$317 million on their hobby. Now they need somewhere to display the collection that they’ve amassed.
      AP  -  865 words

  • WORLD
    • 1441 17 He survived the financial crisis but now Dimon’s genius status on the line AP [NEW YORK] In the 1980s and 1990s, Jamie Dimon was the protege of banking industry legend Sanford Weill. In the early 2000s, he took over Bank One, an
      AP; AFP  -  1,441 words
    • 859 18 Tokyo exchange on track to set up stock market, but Seoul bourse joining race AFP [YANGON] Two of Asia’s biggest stock exchanges are fighting for dominance in the world’s hottest new frontier market as investors beat a path to Myanmar following the end
      AFP  -  859 words
    • 693 18 Country struggles to plug power gap as last reactor is shut AFP AFP [TOKYO] Japan’s hard-hit manufacturers are facing a long summer with businesses making everything from ice creams to crayons fretting production may be hampered as the now nuc-lear-free
      AFP  -  693 words
    • 487 18 AFP [WASHINGTON] As Myanmar takes steps towards democracy, the United States is hoping that a broader section of the population will feel the fruits of reform, including potential foreign investment. In the back of policymakers’ minds is the lesson from China. Some experts believe
      AFP  -  487 words
    • 666 18 Other central banks resorting to sharp reductions in rates Reuters [LONDON] Working out whether central banks will deliver on publicly stated mandates has become a lottery for investors, especially in emerging economies, as the global credit crisis grinds into its fifth year. Effectively
      Reuters  -  666 words
    • 1074 19 Economic, political developments in China, Greece and France hit industry Bloomberg [ZURICH] The biggest rally in three years for luxury goods makers in Europe is fizzling on concern slower economic growth in China and renewed euro-area political turmoil after Greece’s inconclusive election will
      Bloomberg; BLOOMBERG  -  1,074 words
    • 798 19 Finnish company in full pursuit of royalties from rivals Reuters [HELSINKI] Desperate for cash to tide it over until sales ramp up of new products, Nokia Oyj is stepping up its quest for royalties from rivals using its designs as the basis of
      Reuters  -  798 words
    • 834 19 AFP [PARIS] For its 65th anniversary bash, the Cannes Film Festival will be wining and dining 700 of the film world’s elite at a black-tie dinner, but for decades the movie showcase on the Riviera was a pretty laid-back affair. From Wednesday,
      AFP  -  834 words
    • 427 19 AFP [PARIS] The moment France’s president-elect Francois Hollande is sworn in tomorrow, he leaves his cosy post-election noman’s land for potentially bruising encounters on the European and world stage. Hours after naming a prime minister, France’s first Socialist leader since 1995 will fly
      AFP  -  427 words
    • 497 20 Result could fuel criticism of austerity drive in Europe Reuters [DUESSELDORF] Chancellor Angela Merkel’s conservatives face a defeat that could give the left momentum before next year’s federal election and fuel criticism of the chancellor’s European austerity drive, as voting began yesterday in
      Reuters; AP  -  497 words
    • 747 20 Biggest anti-bailout party, Syriza, again refuses to join a unity govt AP Bloomberg [ATHENS] Critical lastditch talks to form a coalition government in crisisstruck Greece floundered once more yesterday, leading the country one step closer to new elections that have
      AP; Bloomberg  -  747 words
    • 720 20 Reuters [BARCELONA] Students are protesting on Barcelona’s elegant boulevards, pub-lic-sector wages are being cut for the second time in three years and resentment is growing against the central government and beneficiaries of bank bailouts. Such is the daily fallout from the eurozone’s debt crisis.
      Reuters; AFP  -  720 words
    • 561 20 Reuters [BARCELONA] Pastor Maldonado grabbed an astonishing first Formula One victory yesterday in a Spanish Grand Prix thriller that handed former champions Williams their first triumph in 132 races a wait of nearly eight years. The first Venezuelan driver to stand on the
      Reuters; REUTERS  -  561 words
  • Page 17 Advertisements
    • 116 17 BTA BuildTechAsia2012 m International Building Technology Expo incorporating: ConMachAs/o20/2 NewMateAs/o20/2 EleMechAsia20l2 r Redefining the Future of Construction 15-17 May I 10am to 6pm daily Sands Expo and Convention Center at the Marina Bay Sands, Singapore i OPENS TOMORROW! For more information, visit www.buildtechasia.com MBS car park charges at SG$6 for
      116 words




  • SINGAPORE ARTS FESTIVAL
    • 629 21  -  Mark Chan discovers the joy of letting a work evolve, reports CHRISTOPHER LIM reportsCHRISTOPHER reportsCHRISTOPHER LIM TO say that Mark Chan is a bit of a control freak may not be too much of an exaggeration. Take his involvement with this year’s Singapore Arts Festival
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    • 497 21  -  An English play is revived in a different tongue By RACHEL AU-YONG THERE won’t be subtitles in the mostly Manda-rin-speaking A Language of Their Own, but that’s precisely director Casey Lim’s intention. He wants his audience to immerse themselves in “the tonality and musicality
      497 words
    • 475 21  -  By RACHEL LOI “FLUX is French for ‘flow’. The flow of blood, the flow of money, the flow of information, the flow of people. The world itself is one big ‘flux’,” says 42-year-old French artist Manolo Bex. Flux also happens to
      475 words
  • Page 21 Advertisements
    • 350 21 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF CREATIVE TOURS (SINGAPORE) PTE. LTD. Company Registration No. *****1221G (IN MEMBERS’ VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the members of CREATIVE TOURS (SINGAPORE) PTE. LTD. duly convened and held at 16 Raffles
      350 words
    • 270 21 FORM 69(4) (Rule 101) NOTICE OF DIVIDEND Name of company MSM Holdings Pte Ltd (In Creditors’ Voluntary Liquidation) (Company Registration No.*****7130M) Address of registered office Formerly of 2 Tuas Avenue 10 Singapore *****6 Amount per centum 100 per centum of all admitted preferential claims 8.263 per centum of all admitted
      270 words
    • 201 21 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 IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that a Final Meeting of the Members of
      201 words

  • SHIPPING/AVIATION
    • 658 22 Bankers remain leery of damaging long-standing client relationships Reuters [NEW YORK] Fending off the distressed investors currently circling the sector, bank lenders continue to extend lifelines to several shipping companies trying to weather an industrywide downturn. These lenders face the difficult dilemma of
      Reuters  -  658 words
    • 393 22 AFP [JOHANNESBURG] South Africa has some of the busiest ports on the continent but no commercial ships, but officials hope a new tax regime may give it an entry into the multibillion-dollar industry. The flight of merchant ships from the national register
      AFP  -  393 words
    • 473 22 Domestic flights have not been affected Bloomberg [NEW DELHI] Air India Ltd stopped taking bookings for Europe and North America flights after some pilots stayed away from work for a fourth day in a dispute over who would fly the new Boeing
      Bloomberg; AP  -  473 words
    • 320 22 Bloomberg [LONDON] Governments don’t want to regulate standards for private armed guards on ships employed to protect vessels against hijacks by Somali pirates in case they get sued, the United Nations’ shipping body says. It’s no accident the International
      Bloomberg  -  320 words
    • 250 22 SGX '000 May 11 S$ +/-Vol CH Offshore 0.43 -0.01 189 Chuan Hup Hldg 0.23 unch 17 Cosco Corp 0.93 -0.03 5753 First Ship Lea 0.19 unch 113 Freight Links 0.06 unch 2850 Grand Banks unch unch 0 Jaya Hold Ltd 0.55 unch 340 K1Ventures 0.10 unch 103
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    • 322 22 Reuters [LONDON] Thomas Cook has agreed to sell and lease back 17 aircraft, providing £183 million (S$368.4 million) to ease pressure on the debt-laden British travel company after its first-half loss widened. Chief executive Sam Weihagen said on Friday that the aircraft
      Reuters; BLOOMBERG  -  322 words
    • 3716 27 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 UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE STXPO TBN Antwerp/UK
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  • Page 22 Advertisements
  • Page 22 Miscellaneous
    • 332 22 CRYPTIC CROSSWORD Across 1 Pause in front of address, seeing renovations (11) 9 Final check on form for an acquaintance (9) 10 City mucker returns first-class (5) 11 Pass on unlimited time with section (6) 12 Retreats, due to his suffering (8) 13 Cake and Vichy water on grant, oddly
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  • DINING OUT
    • 649 23  -  By Debbie Yong NEW RESTAURANT Masa Steak and Hamburg 11 Unity Street #01-01 Robertson Walk Tel: 6235-2941 WHAT do you get when you cross a Japanese steakhouse with an American diner? Masa Steak and Hamburg, it seems. The three-week-old sister joint to yakiniku
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    • 610 23  -  By Cheah Ui-Hoon NEW RESTAURANT Kookaburra 180 Albert Court, Albert Court Village Hotel Tel: 8522-2365 Tues-Fri 11am-11pm, Sat Sun 10am-11pm. Closed on Mondays FROM an all-day breakfast eatery located far out in the west of Singapore, the folks behind Late Plate at Kent Ridge
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  • Page 23 Advertisements
    • 212 23 w a DUELLING PIANOS Widely popular overseas, the Duelling Pianos performance features two talented musicians, each playing on a baby grand piano as they entertain guests with their dazzling musical conversation. Expect a spectacular show with veteran musician, Stephen Francis and renowned singer, Arianna stirring up an audio feast with
      212 words

  • SINGAPORE STOCKS
    • 2794 24 Week ended: May 11 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div GrYld 123 92.5 AIMSAMPIReit 118 unch 2192 119 115 117.5 118 7.1 11.3 523.7 M
      2,794 words
    • 229 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 3 +0.4 ***** 4.6 2.6 3 3.1 39.7 Vol Week Last Quote Div Gr Yld Net M Cap
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    • 116 25 Stock name Close Change CapMallsAsia 1.400 -0.015 CapitaLand 2.730 +0.040 CapitaMall 1.780 -0.005 CityDev 10.200 -0.020 ComfortDelGro 1.475 -0.015 DBS Grp 13.870 -0.030 F&N 6.850 -0.140 GLP 1.935 -0.025 Genting SP 1.625 -0.045 Golden Agri 0.695 Stock name Close Change HK Land 5.980 -0.030 JMH 48.400
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    • 2226 25 Transaction date: May 11 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.80 unch 0 Aeon Stores 23.00 unch 0 Angang Steel 4.78 -0.06 5121 Anhui Conch 22.35 -0.50 ***** Anhuiexpresswa 4.12 -0.04 826 Asia Satellite 22.00 unch 0 Asm Pacific 100.80 -2.40 463 Bank Of E Asia 28.65
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    • 260 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 50 31.5 AVJennings A35 +1 9 35 35 31.5 36.5 3.6 10 2.8 91.1 46 25.5 Genting HK US$ US33.5 -3 ***** 36.5 32.5 33 33.5 2205.8
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    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 16 1 0 0 0 1 16 1 Manufacturing 36 130 28 6 22 5 42 152 33 Commerce 15 55 7 4 9 4 19 64 11 Tpt/Stor/Comms 7 31 6
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    • 1081 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 112.5 ABF SG Bond ETF 118.8 +0.8 163 119 118.1 118 119 542.3 103 100 CIMB APAC Div 100US$ US103 97.7 98.7 10.8 1261 856
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 114,705 114,705 532,365 532,365 Manufacturing 1,853,608 962,986 2,816,594 1,350,232 31,190 1,381,422 Commerce 1,673,429 296,200 1,969,629 668,853 10,995 679,848 Tpt/Stor/Comms 529,930 95,162 625,092 905,034 30,659 935,693 Finance 132,190 199 132,389 843,726 44 843,770 Construction 830,136 126,189
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  • Page 25 Advertisements
    • 26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 610 26 May 11 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9019.40 9050.61 8944.63 Jun12 9035.00 9095.00 8935.00 8950.00 *****8 *****1 Sep12 9045.00 9045.00 8980.00 8940.00 130 8353 MSCI TAIWAN INDEX FUTURES SPOT 266.84 266.87 263.56 May12 267.00 267.60 262.40 263.20 ***** *****0 Jun12 266.50 266.50
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    • 373 26 In local curr In S$ In US$ dy yr dy yr dy yr May 11 Index Change Change Change Change Change Change World Preliminary 874.4 0.2 5.4 0.2 1.7 0.2 5.5 EAFE Preliminary 698.1 0.1 2.3 -0.1 -1.4 -0.1 2.3 Europe Preliminary 1036.0 0.4 0.9
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    • 136 26 As on 11 May 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1589.10 1574.30 1584.10 180 CURRENCY AUD-USD FUT JUN2012 1.0035 .9990 1.0001 1512 EUR-USD FUT JUN2012 1.2958 1.2910 1.2925 3149 BASE METAL COPPER FUT JUL2012 8109 7982 8043 2324
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    • 107 26 May 11 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 12 1404.00 1452.25 1448.00 1402.75 Jul 12 1406.00 1455.25 1461.75 1402.50 Aug 12 1393.50 1441.75 1447.25 1390.25 Sep 12 1350.75 1387.00 1392.00 1348.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 12 51.90
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    • 76 26 CRUDE OIL PRODUCTS May 10 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.44 0.27 WTI (Near Mth) 96.92 0.47 Dubai (1-Mth F) 109.13 0.77 Tapis blend 120.06 1.10 Minas 119.36 1.10 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 101.67 -0.94 Jet Kerosene 126.37 0.50 US$/barrel OpecOil Basket
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    • 22 26 May 11 S$ Bid Offer 1-month 1.2511 1.2514 2-months 1.2510 1.2513 3-months 1.2508 1.2512 6-months 1.2500 1.2504 Source: OCBC
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    • 68 26 May 11 May 11 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2004.50 2004.75 3 months 2045.00 2045.50 Copper, Grade A(US$/tonne) Cash 8103.00 8207.00 3 months 8013.00 8105.00 Lead(US$/tonne) Cash 2066.25 2088.50 3 months 2072.00 2100.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.25 *****.50
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    • 80 26 May 11 COCOA (£/tonne) Close Prev High/Low May 12 1550 1545 1559/1527 Jul 12 1539 1542 1545/1520 Sep 12 1530 1534 1535/1514 Dec 12 1517 1519 1518/1496 COFFEE(US$/tonne) Close Prev High/Low May 12 2100 2080 2100/2054 Jul 12 2127 2100 2133/2083 Sep 12 2128 2010 2133/2086 Nov 12 2124
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    • 1466 26 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 4 1 150 295 9.75 24 Conv Ratio Baker Technology Ltd W*****6 1.1 -1.4 24 1 32 23 24.55 6 Best World Intl Ltd W*****5 0.6 1 30
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    • 470 26 May 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.008 6.334 0.776 7.793 53.755 92.411 0.802 11.520 3.083 1.282 91.141 42.735 1.256 8.118 0.932 29.517 31.354 0.623 1.004 Canada 0.992 6.284
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    • 58 26 May 11 (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$) 0.***** 3 mths 0.***** May 0.***** 9 mths 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates
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    • 154 26 May 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2554 1.2563 1.0034 1.0039 Canadian dollar 1.2457 1.2462 0.9957 0.9958 Euro 1.6183 1.6189 1.2935 1.2937 NZ dollar 0.9796 0.9801 0.7830 0.7832 Sterling pound 2.0160 2.0169 1.6114 1.6117
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    • 155 26 May 11 Bid $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.05 0.85
      155 words
    • 135 26 May 11 GOLD(US$/oz) May 11 May 10 Hong Kong 1587.00 1601.50 May 10 May 10 May 09 London 1593.51 1591.31 1594.28 1592.08 Source: Thomson Reuters CAST BAR May 11 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 154 64 5gm 438 321 10gm
      135 words
    • 81 26 May 11 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 10-Aug-12 0.26 1-Year BY*****T 02-May-13 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.11 5-Year N*****0Z 2.375 01-Apr-17 108.94 1-Year 10-Year NX*****X 2.250
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    • 61 26 May 11 May KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 12 3295.0 3355.0 3295.0 3278.0 10 1486 Jun 12 3320.0 3360.0 3334.0 3272.0 1972 ***** Jul 12 3315.0 3349.0 3330.0 3265.0 ***** ***** Aug 12 3311.0
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    • 121 26 As at 9am May 11 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.29 1.229 Can dollar 1.276 1.216 Euro 1.657 1.579 Sterling pound 2.058 1.979 NZ dollar 1.01 0.962 US dollar 1.269 1.221 Local dollars to 100 units of foreign
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  • Page 27 Advertisements
    • 47 27 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE _1He Business Times Shipping Times I FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping Times? The Business Times Shipping Times
      47 words
    • 18 27 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. THE BUSINESS TIMES Shipping Times
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  • Page 28 Advertisements
    • 115 28 SHipping lines seeking reliable logistics partners Can they find your services here in the Shipping Times? r i FORWARDER urgently needed by shippers Can they -Find your service Here in the Shipping Time The Business Times ADVERTISE. CALI IOE WONG 9620 1 Shipping times Boost Your Corporate Image Come publicise
      115 words

  • BizIT
    • 883 29  -  Republic to fall marginally behind this year despite growth, reports AMIT ROY CHOUDHURY reportsAMIT AMIT ROY CHOUDHURY THAILAND is set to pip Singapore to the No 2 spot in information technology (IT) spending in South-east Asia this year, after a two-year hiatus.
      883 words
    • 397 29  -  By AMANDA EBER FACEBOOK’S US$1 billion acquisition of Instagram last month generated waves worldwide; the reactions have scarcely been positive, but the social networking site is defending its decision. First, the reactions. According to agency reports, the US Federal Trade Commission has reached out
      AFP  -  397 words
    • 689 29  -  Automated solutions can tackle data crunching problems and boost innovation <you say> By RAPHAEL RENAUX The writer is APAC GM for ORSYP, a computer software and consulting company headquartered in Paris HAVE you ever wondered how your bank manages to send you a statement
      689 words
    • 311 29  -  By JOSHUA TAN SINGAPORE is tops in mobile payment readiness, according to a study by global payments and technology company MasterCard. Singapore achieved the highest score in the MasterCard Mobile Payments Readiness Index (MPRI), an indication of the readiness level to use three
      311 words
    • 318 29  -  By AMANDA EBER THE incidence of cyber attacks has increased a whopping 2,000 per cent in the past three years, yet companies’ awareness of these threats has remained worryingly low, says insurance company Chartis. In response to this escalating threat, the company last week launched
      318 words
    • 1060 30  -  IBM S’pore MD, back after China stint, tells VICTORIA HO IT landscape here still promises excitement <the BizIT interview> VICTORIA HOIT SHE’S been through the ups and downs of IBM in Singapore over the last three decades. Now, seven years after she
      1,060 words
    • what’s up
      • 34 30 NXP Semiconductors has opened a new research and development (R&D) centre in Singapore. The new facility will receive some $20 million of investment and employ a headcount of 50.
        34 words
      • 39 30 OLYMPUS has launched its new Tough TG-1 point-and-shoot camera, with an f2.0 lens. The ruggedised gadget is touted to be waterproof to 12m, shockproof to 2m, withstanding forces of 100kg and freezing temperatures of -10˚ Celsius.
        39 words
      • 42 30 ASUS has released four new laptops powered by Intel’s Ivy Bridge chips. One of its models, the K Series, focuses on longer battery life and cooler operation. It powers on in two seconds, the company said.
        42 words
      • 49 30  -  Compiled by VICTORIA HO HP has launched a mobile all-in-one printer, scanner and copier, the OfficeJet 150. The device is priced at US$399 and connects to notebooks and smartphones via Bluetooth to print up to 500 pages on a full charge on its rechargeable battery.
        49 words
    • 708 31  -  IBM to introduce two products which offer users an alternative to the enterprise computing model By CLEMENT TEO ASK any IT manager what constitutes the biggest cost component of their budgets and they tend to point their finger at the operating cost of running a
      708 words
    • 979 31 It’s increasing hiring and marketing efforts, and rolling out new features Bloomberg [SAN FRANCISCO] Google Inc, which has watched Amazon.com Inc dominate the market for Web-based computer services, is boosting spending to carve out a bigger piece of the cloud
      Bloomberg  -  979 words

  • Page 30 Advertisements
    • 385 30 Panasonic ideas for life Panasonic Video Conferencing Trusted by Global Industry Leaders Successful organizations around the world, in every field imaginable, trust Panasonic Video Conferencing to optimize their daily efficiency. IT Services Provider By using Panasonic HD Video Conferencing and High-speed Fibre Broadband internet, Fujitsu was able to save even
      385 words

  • Page 31 Advertisements
    • 403 31 Expert systems to power a smarter planet. With intelligence being infused into the systems, processes and physical objects we interact with every day, our planet is becoming smarter before our eyes. Less visible, but equally important, are the leaps in intelligence being achieved by the computing systems at the heart
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  • Page 32 Advertisements
    • 269 32 i A a GAYLIN R Gaylin International has reached its 38th year mark. It has been a challenging journey and we are proud to have achieved many milestones in this time. I would like to thank all our customers and suppliers for supporting Gaylin International through the years. Your trust
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