The Business Times, 26 May 2012

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Microfilm: NL32011
Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| g| MAY 26-27, 2012 S$1.00| S$1.00| MICA (P) 121/08/2011 1
    17 words
  • Article
    Lock icon COI concludes hearing
    30 1 STAGE COMPLETE PANEL points to silver lining in the train disruption saga, saying that what’s important are the lessons learnt, and to put things right quickly. 2
    30 words
  • Article
    Lock icon Facebook claims may top US$100m
    34 1 SORE CUSTOMERS NASDAQ is on the receiving end over the botched IPO as market makers and other traders continue to deal with thousands of problems with customer orders. 4
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  • Article
    Lock icon ST Kinetics challenges India ban
    44 1 COUNTER STRIKE IT files a writ petition in the High Court of Delhi against the Indian Ministry of Defence and the Indian Ordnance Factory Board, seeking, among other things, the quashing of the debarment order issued by OFB. 5
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  • Article, Illustration
    Lock icon Recovery hopes jolted by electronics shock
    578 1  -  Manufacturing output shrank in April, although consensus forecast was for 4.1% growth; electronics down 12.5% By Teh Shi Ning tshining@sph.com.sg Singapore INGAPORE’s economy has gotten off to an unexpectedly weak start to Q2, with the much-anticipated electronics recovery now looking patchy. Dampening any cheer
    Source: Economic Development Board  -  578 words
  • Article
    Lock icon F1 may hold back IPO plans with markets still in turmoil
    395 1 Majority owner CVC Capital may ‘wait and see’, says Ecclestone AFP Monte Carlo FORMULA One supremo Bernie Ecclestone yesterday indicated that a planned flotation of the sport on the Singapore stock exchange may have to be delayed due to
    AFP  -  395 words
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 HSTI 2,772.75 (-6.78) HSTI FUTURES 2,773 (-7) GSIMSCI 317.07 (+0.04) GSIMSCI FUTURES 317.40 (+0.30) STOCKS Friday Change KL COMP 1,551.12 +2.87 NIKKEI 225 8,580.39 +17.01 HANG SENG 18,713.41 +47.01 SET 1,132.83 +7.05 JAKARTA 3,902.51 -82.36 MANILA 4,925.97 +21.75 KOSPI 1,824.17 +9.70 SHENZHEN B 628.28 -4.68 MUMBAI IND 16,217.82 -4.48
        59 words
      • Article
        Lock icon PRIME RATES
        31 2 PRIME RATES SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.663 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOREX
        49 2 FOREX US$ S$ US$ (S$ per US$) 1.279 (US$/S$ per 1.568 2.005 EURO(US$/S$/E) 1.258 1.609 Foreign currency per US$ S$ YEN 79.60 62.30 RM 3.158 2.469 HK$ 7.762 6.070 BAHT 31.67 24.76 RUPIAH 9,330 7,296 RENMINBI 6.346 4.963 INDIAN RUPEE 55.38 43.30 A$ 1.022 0.799 NZ$ 1.321 1.033
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    • Article
      Lock icon COI concludes hearing on train disruptions
      527 2  -  Panel points to silver lining in the train disruption saga, saying that what’s important are the lessons learnt Reports by Samuel Ee samuelee@sph.com.sg Singapore THERE is a silver lining in the massive MRT service disruptions last December, says the Committee of Inquiry (COI) in
      527 words
    • Article
      Lock icon Testimony of experts may play crucial part
      323 2 THE testimony of expert witnesses will be crucial when it comes to the Committee of Inquiry’s findings, said one observer who followed the proceedings closely. “With the COI looking at the causes, the consensus among the experts will be very important because the
      323 words
    • Article
      Lock icon Correction
      66 2 IN “Acra seeks powers to inspect audit firms, launch probes” (BT, May 25), we said that the proposed changes to the Accountants Act would soon raise the bar for auditors of charities and listed companies. Actually, only large charities and large Institutions of Public Character as defined under the
      66 words
    • Article
      Lock icon Facebook debut: Claims may top US$100m
      758 4 The main market makers involved are Knight Capital, Citadel Securities, UBS and Citi Reuters New York CLAIMS by four of Wall Street’s main market makers against Nasdaq over Facebook’s botched IPO are likely to exceed US$100 million, as they and other traders continue to
      Reuters  -  758 words
    • Article, Illustration
      Lock icon Consumer sentiment highest since Oct 2007
      455 4 LATEST US DATA Bloomberg Washington CONSUMER confidence rose in May to the highest level since October 2007 as prices at the petrol pump became less of a drag on household budgets. The Thomson Reuters/University of Michigan final index of consumer sentiment climbed to 79.3
      Bloomberg; PHOTO: AFP  -  455 words
    • Article
      Lock icon ST Kinetics files writ petition against Indian authorities to challenge ban
      475 5  -  Writ filed in New Delhi High Court seeks quashing of debarment order By Malminderjit Singh msingh@sph.com.sg Singapore AFTER being blacklisted from conducting any business with the defence authorities in India, Singapore Technologies Kinetics has hit back. It filed a
      475 words
    • Article
      Lock icon Singapore PGA strikes out in trademark case against rival
      624 6  -  High Court judge rules that plaintiffs failed to prove misrepresentation and bad faith on the defendants’ part By Grace Leong gleong@sph.com.sg Singapore THE Singapore Professional Golfers’ Association has failed in its bid to stop a rival group from using the Singapore
      624 words
    • Article, Illustration
      Lock icon China releases detained StanChart banker
      487 6 But she must remain in China for a year as manhunt for her client progresses AFP Shanghai A SINGAPOREAN banker held for almost three months by China after a client allegedly fled the country with millions of dollars has been released, according to her fiance
      AFP; PHOTO: AFP  -  487 words
    • Article, Illustration
      Lock icon Online wardrobe for professional women
      737 7  -  Sarah Curran’s My-wardrobe has come a long way since its 2006 launch and she now targets the Asia-Pacific market By Rachel Au Yong rachelay@sph.com.sg Singapore SARAH Curran once declared that online shopping would never take off. Now that statement will always haunt her. Today, the
      YEN MENG JIIN  -  737 words
    • Article
      Lock icon Chinese trade steps up in early May but outlook still ‘stern’
      516 8 Exports up 27%, imports rise 28% in first 10 days but global situation not improving, says vice trade minister Reuters Beijing CHINA’S annual export and import growth showed signs of acceleration in the first 10 days of May, but
      Reuters  -  516 words
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      Lock icon Page 2 Advertisements Column 1
      95 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 LIVING Travel L2-3 Dining L4-8 Guest chef L9 Raffles Conversation 10-11 Companies 12-14 From The Desk Of 15 Singapore 16 World 19-22 Design L10-11 Beauty/Wellness L12-13 Gadgets L14 Health L15 Sports L16 Golf L17 Motoring L18-19 Stocks Stats 23-27 Perspective 28-29
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    • Advertisement
      Lock icon Page 2 Advertisements Column 2
      21 2 J w Head to CATS FASTADS in The New Paper for education options! WAT3 BUY IT* SELL IT* FIND IT CLA/Dec05/Sg
      21 words
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      Lock icon Page 3 Advertisements Column 1
      97 3 SINGAPORE SYMPHONY ORCHESTRA Singapore Symphony Orchestra An 2012/13 Season Awaits! LAN SHUI Music Director KRYST1AN NICHOLAS ANGELICH 25 Oct 12 NICOLA BEN EDETTI 1 2 Feb 13 Z MERMAN 5 an 13 y ■v Li HELENE GR1MAUD 12 Jan 13 4 RENAUD CAPUgON 4 Oct 12 THE LABEQUE SISTERS 4
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      17 5 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements WATS NOTICES
      17 words
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      Lock icon Page 5 Advertisements Column 2
      112 5 I SUN LAN D RESIDENCE Jalan Kuala Kangsar Ipoh W pi a Double Storey Terrace House 22'x 75 From $130,000 Large Built Up from 1,980 sq ft Large Master Bedroom from 360 sq ft Four Bedrooms and Four Bathrooms Columnless Driveway allows 2 cars to park side by side Linear
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      372 7 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CORBIS SINGAPORE PTE. LTD. Co. Reg. No. *****5601M (IN MEMBERS’ VOLUNTARY LIQUIDATION) FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 (1) of the Companies Act, Cap. 50, that a Final General
      372 words
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      Lock icon Page 8 Advertisements Column 1
      1024 8 WATS NOTICES Toll free 1800-289-8822 Email notices@sph,com.sg www.cats.com.sg/notices West LB Financial Accounts for the year ended 31 December 2011 (Incorporated in the Federal Republic of Germany) Group Balance Sheet Dec. 31,2011 Dec. 31,2010 ASSETS Cash and balances with central banks Loans and advances to banks Loans and advances to customers
      1,024 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK May 21-25, 2012
      • Article
        Lock icon Rising spending poses taxing question
        72 9 A SHRINKING, ageing workforce and rising social spending needs in the next two decades need not inevitably force tax rates up if Singapore is prepared to adjust some aspects of its traditionally conservative policies on non-tax revenues. Suggested changes include lifting the share of investment
        72 words
      • Article
        Lock icon Facebook IPO could hurt Morgan Stanley
        56 9 MORGAN Stanley, the lead underwriter in Facebook’s initial public offering, stands to take a hit from a stock market debut that stoked disappointment among investors in the largest social network. The bank stepped in to prop up the stock from dipping below its US$38
        56 words
      • Article
        Lock icon China aims to put its growth back on track
        48 9 CHINA has decided to rev up its slowing economy and more easing measures could be on the way. During an inspection tour in Hubei province on Sunday, Premier Wen Jiabao called for “putting growth in a more important position”.
        48 words
      • Article
        Lock icon Trade recovery may lighten Singapore’s gloom
        54 9 WORLD trade could recover and there are signs of a possible upturn in IT-related activity. These are two areas of hope for economies such as Singapore amid gloomy global prospects in the coming months according a report released yesterday by the Organisation for Economic
        54 words
      • Article, Illustration
        Lock icon Govt outlines plan for more S’poreans as finance chiefs
        84 9 THE government is committed to grooming a larger pool of Singaporeans for leadership positions and specialist roles in the banking and finance industry here, in a move that may distinctly change the face of the sector. Finance Minister Tharman Shanmugaratnam said
        FILE PHOTO  -  84 words
      • Article
        Lock icon Some count costs after pay proposal
        47 9 THE pay of low-wage workers is likely to rise by at least 5 per cent this year, thanks to the National Wages Council’s latest wage guidelines. Employers agreed with the principle, though some indicated that certain sectors would worry about costs.
        47 words
      • Article
        Lock icon Bankers mull over Tharman’s remarks on local talent pool
        79 9 A FINE balancing act lies ahead for the government as it plans to groom more Singaporeans for top positions and specialist roles in the finance industry, while keeping an eye on the entry of foreigners to the sector. From what industry
        79 words
      • Article
        Lock icon Policy options narrow as inflation, growth risks rise
        40 9 INFLATION rose again last month as heightened global growth risks did little to dampen price increases. Persistent inflation and risks to growth could mean Singapore’s monetary policy options are narrowing, economists say.
        40 words
      • Article
        Lock icon Ownership caps may kill DBS’s Danamon bid
        56 9 NEW reports about Bank Indonesia’s (BI) plans to cap bank ownership have cast more doubts on whether DBS Group’s bid for Bank Danamon will go through. BI is likely to cap the maximum stake a single shareholder can own in Indonesia’s banks at
        56 words
      • Article
        Lock icon HP cuts 27,000 jobs; S’pore unit to share the pain
        53 9 JUST eight months into the job, Hewlett Packard CEO Meg Whitman has announced that 8 per cent of the technology giant’s workforce would be laid off. This translates to 27,000 employees, making it the single biggest job cut in the
        53 words
      • Article
        Lock icon Acra seeks powers to inspect audit firms, launch probes
        58 9 PROPOSED changes to the Accountants Act will soon raise the bar for auditors of charities and listed companies and grant powers to the industry regulator to probe suspected non-compliance with audit standards. The details were released in a public consultation paper
        58 words
      • Article
        Lock icon Choose quality over quantity, says PM Lee
        90 9 IT is the quality not just the quantity that counts when it comes to having alternative voices in parliament, said Prime Minister Lee Hsien Loong. He made this remark in a written interview with the local media on the ninth and final day
        90 words
    • Article
      Lock icon NEXT WEEK May 28-June 1
      79 9 US DATA May 29 May Consumer confidence May 30 April Pending home sales May 31 Q1 GDP Second estimate June 1 May Unemployment rate April Personal income April Personal spending May ISM index CHINA DATA May 27 China leading index June 1 Manufacturing PMI SINGAPORE
      79 words
  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      288 9 Across 7 Cultivated hemp plant, name not shown in brochure (8) 9 I grew agitated holding a small insect (6) 10 Ready to complain if there’s no starter (4) 11 Downtrodden girl recalled being beaten about at home (10) 12 Blooming rent for a shop (6) 14 Response concerning lawsuit
      288 words
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      14 9 SATURDAY with Ludwig ‘This shoebox apartment is almost inhuman it comes with silica gel
      14 words
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The PR man’s man
      2322 10 / 11  -  Despite retiring as CEO in 1988, Harold Burson of the Burson-Marsteller PR marque still has a work ethic so strong, it’s almost quaint. By Joyce Hooi By Joyce Hooi joyceh@sph.com.sg AT the age of 91, a Southern gentleman like Harold Burson should have cashed in on
      YEN MENG JIIN  -  2,322 words
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  • COMPANIES
    • Article
      Lock icon Surge in UOB’s loans to China firms abroad
      472 12  -  Those loans increase six-fold in the last six months; most of the firms invest in South-east Asia By Emilyn Yap emilyny@sph.com.sg Singapore UNITED Overseas Bank (UOB) has seen a six-fold increase in loans in the last six months to Chinese companies venturing
      472 words
    • Article, Illustration
      Lock icon Toyota unit buys 27% of Sin Heng
      502 12  -  By Glenn Choo gchoo@sph.com.sg Singapore TOYOTA Tsusho Corporation (TTC), a member of Toyota Motor (Corporation) Group, has bought a 27 per cent stake, or 123.8 million shares, in Sin Heng Heavy Machinery for $26 million or about 21 cents per share. This represents
      FILE PHOTO  -  502 words
    • Article
      Lock icon Restructured investment dents Yoma’s Q4 earnings
      524 12  -  By Kenneth Lim kenlim@sph.com.sg Singapore YOMA Strategic Holdings took a fourth-quarter hit from a restructured investment but still posted strong growth for the year as shareholders agreed to a $91 million property deal in Myanmar. Yoma, widely seen as the purest Myanmar play on
      524 words
    • Article
      Lock icon GPH to buy Fragrance real estate unit for $25m from parent
      453 13  -  Fragrance Heritage’s sole asset is a freehold plot which GPH plans to develop into a hotel By Kelly Tay kellytay@sph.com.sg Singapore NEWLY listed Global Premium Hotels Ltd (GPH) is planning to spend $25.1 million from its initial public offering
      453 words
    • Article, Illustration
      Lock icon Fragrance bags Novena Ville for $131.5m
      335 13  -  By Mindy Tan tanmindy@sph.com.sg Singapore NOVENA Ville, a freehold mixed-use development, has been sold to Fragrance Group for $131.5 million. The sale price works out to $1,839 per square foot per plot ratio (psf ppr). Inclusive of the additional 10 per cent allowance for
      335 words
    • Article
      Lock icon New stores help boost Cortina net by 63% to $21.5m
      314 13  -  By Jasmine Ng jasng@sph.com.sg Singapore LUXURY watch retailer Cortina Holdings posted a 63 per cent year-on-year increase in group net profit to $21.15 million for the full year ended March 31. Yearly earnings per share rose to 12.8 cents from
      314 words
    • Article, Illustration
      Lock icon Little surprises as euro worries dominate
      900 14  -  STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent CONSIDERINGthat the Straits Times Index had lost 212 points in the previous two weeks, it probably came as no surprise that the week just past ki c k e d o ff w i t h a b
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    • Business briefing
      • Article
        Lock icon Valuetronics FY2012 profit up 7.5%, proposes dividend
        80 14 VALUETRONICS Holdings posted a 7.5 per cent increase in profit for financial year 2012 to HK$130.33 million from HK$121.24 million a year ago. It proposed a final dividend of 16 HK cents per share and a special dividend of 1 HK cent per
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      • Article
        Lock icon KSH earnings down 17% to $18.3m
        112 14 KSH Holdings recorded a 17 per cent year-on-year fall in earnings to $18.29 million for the fiscal year ended March 31,2012. Turnover fell 35 per cent over the year to $170.62 million, due to a decrease in revenue from the construction business, partly offset
        112 words
      • Article
        Lock icon China XLX to build RMB2.7b plant
        130 14 CHINA XLX Fertiliser Ltd said it intends to invest RMB2.7 billion (S$544 million) to construct a new production plant. The expansion includes the acquisition of land use rights in Manas County, Xinjiang Uygur Autonomous Region, construction of new production and office buildings, and the
        130 words
      • Article
        Lock icon Boustead raises order book to $417m
        51 14 BOUSTEAD Singapore said its wholly owned subsidiary, Boustead Salcon Water Solutions Pte Ltd, has secured a multi-mil-lion-dollar contract to design, engineer and construct a de-mineralisation and condensate polishing plant for Sembcorp Industries Ltd. The latest contract raises Boustead Group's order book backlog to $417
        51 words
      • Article
        Lock icon Viz Branz plans 1-for-1 bonus issue
        66 14 VIZ Branz is planning a 1-for-1 bonus issue of up to 361.12 million bonus shares. The company said the bonus issue is aimed at rewarding shareholders for their loyalty and increasing the liquidity of shares traded in the market. Viz also said the issue
        66 words
      • Article
        Lock icon Keppel Land marketing $200m 10-year bonds
        44 14 KEPPEL Land Ltd is marketing $200 million of 10-year bonds to yield 3.8 per cent, Bloomberg News quoted Grace Chia, a senior manager in the company’s corporate communications team, as saying. OCBC was hired to arrange the sale.
        44 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Age isn’t an issue
      946 15  -  To successfully leverage a multi-generational workforce simply requires a conscious shift in outlook FROM THE DESK OF Deepali Chaturvedi Head of South-east Asia Reed Specialist Recruitment RECENT measures to encourage employers to help older workers stay longer in the workforce brings into focus the impact of
      946 words
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  • SINGAPORE
    • Article
      Lock icon Q1 services sector receipts up 6.8%
      365 16  -  Health social services, recreation personal services chalk up double-digit growth By Malminderjit Singh msingh@sph.com.sg BUSINESS receipts in Singapore’s services sector grew in the first quarter of 2012, creating a more positive outlook for the sector compared to manufacturing activity data also released yesterday. Compared
      365 words
    • Article, Illustration
      Lock icon Timberland set to scale greater heights
      618 16  -  By Audrey Tan audreyt@sph.com.sg TIMBERLAND is set for greater growth in Singapore, and it will achieve this in a sustainable way. Olga Wu, general manager of Timberland for Hong Kong, Taiwan, Singapore and Malaysia, said that the brand does not rely on discounts to
      YEN MENG JIIN  -  618 words
    • Article
      Lock icon Singapore and Bogota to share transportknow-how
      248 16  -  By Eve Yeo eveyeo@sph.com.sg Singapore SINGAPORE will share its traffic management experience and know-how with Bogotá. Under a Memorandum of Understanding (MOU) signed yesterday in the Colombian capital, by the International Enterprise (IE) Singapore and the Ministry of Transport of the Republic of Colombia,
      248 words
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  • EMERGING ENTERPRISE 2012
    • Article, Illustration
      Lock icon Six Tee all set to ride marine wave
      1006 17  -  Homegrown marine and offshore engineering firm eyes China and Australia for growth By Anna Lee annalee@sph.com.sg Singapore WITH global uncertainty, many are looking to the seas to ensure a stable supply of oil. This is wherehomegrown marine and offshore engineering outfit Six
      ARTHUR LEE  -  1,006 words
    • Article, Illustration
      Lock icon Dr Bui wants to heal the world
      1222 18  -  His i-DNA Biotechnology is a finalist for the Emerging Enterprise Award By Glenn Choo gchoo@sph.com.sg Singapore IF you need to thank someone apart from your doctor for healing you, it would probably be Dr Bui Dinh Tuan, 43, the CEO of i-DNA Biotechnology
      ARTHUR LEE  -  1,222 words
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  • WORLD
    • Article, Illustration
      Lock icon Merkel open to debt compromise
      544 19 She’s under fire for veto against Germany underwriting joint debt issuance Bloomberg Rome CHANCELLOR Angela Merkel left the door open to a compromise on debt sharing in the euro area as Italian Prime Minister Mario Monti said he can help bring Germany round to acting
      Bloomberg; AP  -  544 words
    • Article, Illustration
      Lock icon ‘Pro-growth’ policies needed to rescue Europe
      510 19  -  By Anthony Rowley btworld@sph.com.sg Tokyo GREECE and other eurozone nations cannot escape from their current crises unless Europe as a whole and the rest of world adopt “pro-growth” policies, says former Thai deputy prime minister Olarn Chaipravat. He likened Europe’s current problems to that
      AFP  -  510 words
    • Briefing
      • Article
        Lock icon Australia offers PR to those who invest A$5m
        100 19 AFP Sydney Australia plans to roll out the red carpet for wealthy business people by establishing a visa category offering a pathway to residency if they invest at least A$5 million (S$6.3 million). Immigration Minister Chris Bowen said it was important to
        AFP  -  100 words
      • Article
        Lock icon China not tweaking the yuan, says Washington
        73 19 AFP Washington The United States said yesterday that China’s currency remains “significantly undervalued” but Beijing was not manipulating the yuan to gain an unfair trade advantage. In its semi-annual report to Congress on exchange rates, the US Treasury Department said its decision was
        AFP  -  73 words
      • Article
        Lock icon Moody’s downgrades Nordic banks
        67 19 Bloomberg Stockholm Some of the Nordic region’s largest banks, among the best rated in Europe, were downgraded by Moody’s Investors Service on concern that a reliance on wholesale funding has left them vulnerable to market volatility. Sweden’s Nordea Bank AB and Svenska Handelsbanken AB were cut
        Bloomberg  -  67 words
      • Article
        Lock icon Toyota seeks emerging markets to boost sales
        64 19 AP Tokyo Toyota is looking to emerging markets for growth, targeting 50 per cent of its global vehicle sales there by 2015, and rolling out eight compact models over the next few years. Toyota Motor already sells more than three million vehicles a
        AP  -  64 words
    • Article, Illustration
      Lock icon Canberra gives the nod for foreign mine workers
      570 20 Approval for Rinehart’s project clears way for resources sector to use more foreign labour Reuters CANBERRA IN a major shift in immigration policy, Australia yesterday approved the hiring of 1,715 foreign workers by mining magnate Gina Rinehart for the A$9.5 billion (S$11.9
      Reuters  -  570 words
    • Article
      Lock icon Goldman, Merrill slice forecasts for India after Morgan cut
      240 20 Reuters Mumbai ANALYSTS at Goldman Sachs and Bank of America-Merrill Lynch cut their growth forecasts for India, following up on a Morgan Stanley downgrade earlier this week that had sparked much concern in domestic markets. The downgrades come in a tough
      Reuters  -  240 words
    • Article
      Lock icon Small cap banks at disadvantage as Jakarta reconsiders licensing limits
      323 20 Xinhua Jakarta BANKS with a small capitalisation may be limited in expanding branches and services in Indonesia as the central bank plans to consider capitalisation as a benchmark when issuing licences. The capitalisation requirement was stipulated in the multi-ple-licence regulation
      Xinhua  -  323 words
    • Article, Illustration
      Lock icon Beijing set to fine-tune policy as economy slows
      395 21 Central bank’s annual report statement reiterates previous remarks by its governor Bloomberg Beijing CHINA’S economy faces downward pressure and authorities will fine-tune policies as needed amid slow global growth, the nation’s central bank said yesterday in an annual report. Consumer prices will
      Bloomberg; REUTERS  -  395 words
    • Article
      Lock icon Doubts linger over China’s privatisation push
      772 21 Vested interests, murky regulations pose barrier to private investment Beijing CHINA’S new push to open state-controlled industries may look bold after a decade of stuttering privatisation progress, but analysts say Beijing faces stiff resistance from vested interests in its effort to extend its World
      772 words
    • Article, Illustration
      Lock icon Goldman shareholders keep calm, carry on
      608 22 CEO Blankfein holds court over uneventful meeting in contrast to rivals’ PR nightmares AP New Jersey THE bank that Wall Street critics love to hate enjoyed a relatively calm shareholder meeting while two of its peers, Morgan Stanley and JPMorgan Chase, grappled with public-relations
      AP  -  608 words
    • Article
      Lock icon Morgan Stanley unscathed after Facebook storm
      568 22 It’s still top of the heap of underwriters for Silicon Valley Reuters New York SILICON Valley isn’t quite ready to dump Morgan Stanley over the Facebook IPO fiasco. It could be said that playing a role in botching the world’s biggest tech initial public
      Reuters  -  568 words
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      Lock icon Page 20 Advertisements Column 1
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  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
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  • Article
    Lock icon SGX
    7818 23 Transaction date: May 25 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 16.5 11.5 8Telecom 13.5 unch 181 13.5 13.5 13.5 14 66.8 0.4 3.2 64.7 8.5 4 A-Sonic 4.5 4.1 5 2.9 32.2
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  • Article
    Lock icon SGX CATALIST
    1706 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 17 15.1 17 4.7 3.2 6.6 30.4 4 2.5 t AA Grp 3.6 2.8 3.7 3.5 159 30 t APStrategic
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  • Article
    Lock icon SECURITIES TRADING SCOREBOARD |
    186 26 SECURITIES TRADING SCOREBOARD MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 6 1 0 0 0 8 6 1 Manufacturing 39 48 37 4 6 10 43 54 47 Commerce 17 14 14 4 4 2 21 18 16 Tpt/Stor/Comms 12 14 11
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  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    824 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 21 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Sino Construction Ltd 24-May-12 Liu Zhi Qiang PL ***** 0.12 0 0.00 ***** 12.45 Popular Hldgs Ltd
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  • Article
    Lock icon SECURITIES TRADING TURNOVER
    121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN SDQ TOTAL Multi Ind 8,711 8,711 35,421 35,421 Manufacturing 172,483 26,280 198,763 114,420 1,623 116,043 Commerce 307,468 6,033 313,501 157,367 261 157,628 Tpt/Stor/Comms 69,350 14,362 83,712 129,625 4,059 133,684 Finance 11,013 11,013 120,647 120,647 Construction 96,118 36,210 132,328 22,004
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  • MARKETS
    • Article
      Lock icon LIFFE
      79 27 May 24 COCOA (£/tonne) Close Prev High/Low Jul 12 1473 1485 1484/1465 Sep 12 1462 1472 1470/1456 Dec 12 1443 1451 1450/1438 Mar 13 1425 1435 1432/1421 COFFEE(US$/tonne) Close Prev High/Low May 12 2200 2158 Jul 12 2223 2182 2225/2182 Sep 12 2213 2174 2219/2176 Nov 12 2199 2164
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    • Article
      Lock icon METALS
      69 27 May 25 GOLD(US$/oz) May 25 May 24 Hong Kong 1570.00 1564.00 Hong Kong May 24 May 23 London 1571.40 1541.82 1572.20 1542.64 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 36.48 35.81 Source: UOB PLATINUM/ Lon (US$/oz) May 24 Close Previous PM Fix 1431.00 1430.00 AM Fix 1417.00
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    • Article
      Lock icon PALM OIL
      61 27 May 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 12 3032.0 3060.0 3120.0 3030.0 409 2572 Jul 12 3066.0 3073.0 3151.0 3044.0 4093 ***** Aug 12 3062.0 3069.0 3149.0 3040.0 ***** ***** Sep 12 3063.0 3063.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      82 27 May 25 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 23-Aug-12 0.28 0.24 0.24 1-Year BY*****T 02-May-13 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.03 5-Year N*****0Z 2.375 01-Apr-17 108.72 108.85 108.8
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 May 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2512 1.2521 0.9786 0.9789 Canadian dollar 1.2469 1.2480 0.9752 0.9757 Euro 1.6086 1.6095 1.2581 1.2583 NZ dollar 0.9675 0.9682 0.7567 0.7569 Sterling pound 2.0039 2.0054 1.5673 1.5678
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      Lock icon SMX MARKET UPDATE
      113 27 As on 24 May 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1574.20 1564.90 1557.60 14 CURRENCY AUD-USD FUT JUN2012 .9767 .9704 .9709 1443 EUR-USD FUT JUN2012 1.2620 1.2520 1.2529 2878 BASE METAL COPPER FUT JUL2012 7598 7526 7560 2147
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    • Article
      Lock icon CHICAGO BOT
      103 27 May 24 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 12 1376.00 1362.50 1387.75 1367.50 Aug 12 1356.25 1342.50 1364.50 1345.75 Sep 12 1313.25 1295.00 1319.00 1302.00 Nov 12 1276.25 1257.75 1285.50 1262.75 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 12 49.42 48.91 49.70 48.92
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    • Article
      Lock icon OIL
      74 27 May 24 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 106.72 0.28 WTI (Near Mth) 90.39 0.43 Dubai (1-Mth F) 102.57 -1.24 Tapis blend 113.68 -1.58 Minas 113.48 -1.58 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 91.22 -2.45 Jet Kerosene 118.94 -1.12 US$/barrel OpecOil Basket Price 103.49
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 May 25 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.276 1.216 Can dollar 1.275 1.215 Euro 1.643 1.565 Sterling pound 2.043 1.965 NZ dollar 0.992 0.945 US dollar 1.301 1.251 Local dollars to 100 units of foreign currency: Currencies Sell
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    • Article
      Lock icon LONDON METALS
      69 27 May 24 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1977.25 1969.25 3 months 2015.00 2009.00 Copper, Grade A (US$/tonne) Cash 7655.50 7583.00 3 months 7610.00 7531.00 Lead (US$/tonne) Cash 1947.25 1916.00 3 months 1959.00 1929.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT,L INDICES
      374 27 MORGAN STANLEY CAPITAL INT L INDICES In local curr In S$ In US$ dy yr dy yr dy yr May 24 Index Change Change Change Change Change Change World Preliminary 842.4 0.3 1.5 -0.1 -1.0 0.3 0.7 EAFE Preliminary 667.4 0.7 -2.2 0.3 -5.7 0.7 -4.1 Europe Preliminary 994.0 1.1
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    • Article, Illustration
      Lock icon STOCK MARKETS
      107 27 Straits Times Index YTD change: +4.78% 52-week high: 3,227.28 on Aug 1, 2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg Hang Seng Index YTD change:+1.51% 52-week high: 23,707.90 on May 31,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg Dow Jones Industrial Average YTD change: +2.56% 52-week
      Source: Bloomberg  -  107 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Fostering entrepreneurship
      1486 28 / 29  -  What Singapore needs for the next stage of its journey towards becoming an ‘entrepreneurial nation’. By Leong Chee Tung and Jann Wong By Leong Chee Tung, Jann Wong ~Leong Chee Tung is a senior consultant and Jann Wong is a consultant at Gallup FORMER Permanent Secretary, Ngiam Tong
      BLOOMBERG  -  1,486 words
    • Article
      Lock icon The weighty issue of choosing a leader
      839 28 / 29  -  In this year of elections, the physical attributes of a candidate may be telling By Frank-Jurgen Richter ~Frank-Jurgen Richter is founder and chairman of Horasis, a global business consultancy. AS Lewis Gantt said: “Each spring a gardening instinct, sure as the sap rising
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  • Wealth
    • wealth investing
      • Article, Illustration
        Lock icon Analysts: ‘Grexit’ is no Lehman II
        1083 30 / 31  -  The possibility of Greece’s exit from the eurozone is beginning to be a base case in some analysts’ market forecasts, but they advise against panicking Genevieve Cua gen@sph.com.sg Personal Finance Editor Renewed fears of contagion arising from the potential exit of Greece dubbed “Grexit”
        BLOOMBERG  -  1,083 words
      • Article
        Lock icon brokers' take
        673 30 / 31  -  Compiled by Jamie Lee Property market Maybank Kim Eng Research May 25 WHEN less is not more: Minister for National Development Khaw Boon Wan recently noted in Parliament that the number of completed shoebox units (defined here as units less than 51 square metres) in the market is
        673 words
      • Article, Illustration
        Lock icon Investing by ignoring Facebook-type swings
        1066 32 Nobel laureate reiterates the wisdom of portfolio selection in a world of fundamental uncertainty NYT WHAT are ordinary investors to make of the puzzling swings in Facebook’s first-day share price on Friday? Or of the fact that this company, all of eight years old, is
        NYT; AP  -  1,066 words
      • Article, Illustration
        Lock icon Doing things that you’ve always wanted to
        969 33  -  It is imperative to occasionally stop, and reflect and reassess what is important to you at that particular point in time SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent WHAT do you k n o w the column Show Me the
        AFP  -  969 words
    • WEALTH REAL ESTATE
      • Article
        Lock icon Househunt
        1604 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MAR 28 AND APR 3, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 15 LANDED Frankel Estate X-Sd 29/03/2012 FH 3962 4338 1095 Mangis Rd 3-Ter 03/04/2012 FH 1270 2450
        1,604 words
      • Article, Illustration
        Lock icon Several high-value properties transacted
        851 35  -  Chatsworth house sold for $1,985 psf, several Paterson Suites and TwentyOne Angullia Park units change hands By Kalpana Rashiwala kalpana@sph.com.sg Singapore SEVERAL big-ticket residential properties have changed hands lately including Good Class Bungalows (GCBs) in the Chatsworth, Third Avenue and Binjai Park locations as well as
        851 words
      • Article
        Lock icon Melbourne apartment block to be built with engineered timber
        404 35  -  By Audrey Tan audreyt@sph.com.sg AUSTRALIA is set to build its first high-rise apartment building in Victoria Harbour, Melbourne, using Cross Laminated Timber (CLT), an engineered mass timber product that is more environmentally friendly than other frames. The project, called Forte, is
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      145 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. CLASSICAL PURITY IS THE DEFINING AESTHETIC OF THE JULES AUDEMARS COLLECTION. FOR CENTURIES THE ARTISAN HAS KNOWN THAT IT IS EASIER TO ADD THAN TO SUBTRACT. HERE HOWEVER THE MASTERY OF THE ESSENTIAL HAS PRODUCED A WATCH OF RARE PRESENCE AND
      145 words
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      64 1 DINING Foodies look East L6-8 DESIGN Visual impact L10-11 LivingBTTHE BUSINESS TIMES WEEKEND MAY 26-27 2012 BEAUTY/ WELLNESS Getting under the skin L12-13 BANGKOK RISING City of Angels makes a comeback as hot travel spot L2-3 GADGETS Return to form L14 PHOTO: STOCK.XCHNG NO HOLDS BARRED Elephant, pig to be
      64 words
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  • BT Living
    • TRAVEL
      • Article, Illustration
        Lock icon Bangkok rising
        2013 2 / 3  -  In just a few months, Bangkok has emerged from its politically tumultuous and disaster-stricken state and is swiftly rebranding itself as one of Asia’s buzziest cities. With travellers returning, Debbie Yong checks out the hottest new luxury hotels in the city. Debbie Yong debyong@sph.com.sg IF you thought the
        2,013 words
    • DINING
      • Article, Illustration
        Lock icon Served with a smile
        2143 4 / 5  -  Lost in the deluge of new restaurant openings? Debbie Yong spotlights three new Bangkok restaurants worth watching. Debbie Yong debyong@sph.com.sg Peruvian high Above Eleven 33rd Floor, Fraser Suites Sukhumvit Sukhumvit Road, Soi 11 Z+66 2 207 9300 www.aboveeleven.com SNOOTY gourmands seem to come in three breeds:
        2,143 words
      • Article, Illustration
        Lock icon Foodies look East
        3406 6 / 7  -  Tanjong Katong allures with its many splendoured haunts. By Aaron Justin Tan tanaaron@sph.com.sg By Tan Teck Heng thtan@sph.com.sg THE East has always been associated with good food the adjoining East Coast Road, Joo Chiat Road and Siglap area forming a holy trinity of dining hangouts. anjong Katong
        YEN MENG JIIN  -  3,406 words
      • Article, Illustration
        Lock icon Primping up peasant food
        1566 9  -  Everyone wants to win two Michelin stars for doing nice simple food that everyone can eat, says Tom Kerridge of Hand and Flowers. By Debbie Yong guest chef By Debbie Yong debyong@sph.com.sg THE concept of cheap and good doesn’t come truer than at Hand and Flowers
        1,566 words
    • DESIGN
      • Article, Illustration
        Lock icon VISUAL IMPACT
        1604 10 / 11  -  Form follows fantasy for these two design stars. By Lim Sio Hui btnews@sph.com.sg FABIO NOVEMBRE: LARGER THAN LIFE “THE female form is really an obsession for me,” confesses Fabio Novembre, by way of introducing his latest collection of chairs for Italian manufacturer Driade. He leans back on 56h,
        PAPIER-MÂCHÉ CHANDELIERS PHOTO: INGA POWILLEIT  -  1,604 words
    • BEAUTY & WELLNESS
      • Article, Illustration
        Lock icon Getting under the skin
        1437 12 / 13  -  Collagen is the support structure of the skin, acting as a cushion for the skin surface and contributing to its smooth, firm appearance. Two local companies have come up with products which promise to help maintain a youthful appearance. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg
        1,437 words
    • GADGETS
      • Article, Illustration
        Lock icon Return to form
        603 14  -  Nokia’s big-screened Lumia 900 finally gives the brand the fantastic features it needs to woo back past fans and win curious new ones. By Christopher Lim By Christopher Lim limchris@sph.com.sg Nokia Lumia 900 $849 without contract (above) FIVE years ago, Nokia was synonymous with phones that had
        603 words
    • HEALTH
      • Article, Illustration
        Lock icon Under pressure
        1251 15  -  While our blood pressure inevitably increases as we age, we can avoid aggravating it by adopting healthy lifestyle habits. By Michael Lim By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia; British Medical Journals Publishing Group,
        FILE PHOTO  -  1,251 words
    • SPORTS
      • Article, Illustration
        Lock icon Elephant, pig to be Euro 2012 oracles
        779 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent FANCY a punt on which of 16 countries will win football’s European Championships next month? You might want to check with a pig or an elephant first for their hot tips. After the late World Cup
        AFP  -  779 words
      • Article, Illustration
        Lock icon Achieving that elusive Grand Slam
        536 16  -  grand slam with steve dawson MANY tennis greats have tried but failed to emulate Rod Laver’s stunning Grand Slam feat back in 1969, which is to win all four major tournaments in a single calendar year. A few have come close to doing so. Jimmy
        536 words
    • GOLF
      • Article, Illustration
        Lock icon Beating the magic number in golf
        1066 17  -  Professional says it is getting tougher these days to shoot low rounds as golf courses are being set up to be very challenging for the players. By Justine Moss By Justine Moss btnews@sph.com.sg IN GOLF, 59 is a magic number a near-impossible feat that
        ASIAN TOUR  -  1,066 words
    • MOTORING
      • Article, Illustration
        Lock icon M WITH MORE CLASS
        592 18  -  Most perceptible difference in the roomy cabin is the level of quality, refinement. By Samuel Ee FROM its truck-like beginnings to its sleek new shape, the Mercedes-Benz M-Class is slowly advancing in terms of design and quality to become slightly less SUV and a bit more
        592 words
      • Article, Illustration
        Lock icon Gran entrance
        922 19  -  The Gran Coupe embodies the 6 Series’ sportiness with the 7 Series limousine’s luxury. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE “four-door coupe” may seem like a contradiction in t e rm s b u t t h a t h as n t stopped carmakers from
        922 words
      • Article, Illustration
        Lock icon It’s all about the tyres this season
        632 20  -  Some drivers are still incensed by the rubber’s easy disintegration. f1 watch By Samuel Ee samuelee@sph.com.sg THE Williams team was on fire at the last race in Spain figuratively and literally. Venezuela’s Pastor Maldonado scorched from pole to flag to give the British
        PHOTOS: AP, AFP  -  632 words
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      951 8 wine&dinewith BTWeekend Bar on 5 Level 5, Mandarin Orchard Singapore, 333 Orchard RoadZ6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage menu features an
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      39 12 / 13 HOME N S f Why risk breaking your back? Leave the painting job to the professionals. To find out more, turn to CLASS 112 in CATS Classified in The Straits Times now. !>J BUY IT* SELL IT* FIND IT
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