The Business Times, 28 June 2012

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Microfilm: NL32036
Total Pages: 32
1 32 The Business Times
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  • Title Section
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    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 Thursday, June 28, 2012
    25 words
  • Article, Illustration
    Lock icon To cover tracks, funds sent ‘round-tripping’
    920 1  -  After $24m was siphoned from church, $26.6m diverted to cover tracks: prosecution By TEH SHI NING, EMILYN YAP [SINGAPORE] Not only was $24 million allegedly siphoned from City Harvest Church (CHC) in sham bond deals, but $26.6 million more was diverted and circulated to
    *Some funds went to Wahju Hanafi  -  920 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      110 1 GST INDEX 2,841.60 (+35.97) GST INDEX FUTURES 2,842 (+36) GSIMSCI 327.33 (+4.21) GSIMSCI FUTURES 327.40 (+4.60) US$ S$ US$ (S$ per US$) 1.278 (US$/S$ per 1.562 1.997 EURO (US$/S$/E) 1.249 1.597 Foreign currency per US$ S$ YEN 79.60 62.30 RM 3.192 2.497 HK$ 7.759 6.070 BAHT 31.88 24.94 RUPIAH
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    • Article
      Lock icon PRIME RATES
      18 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.524 TAIWAN 5.036 JAPAN 1.475 Source: Source: Bloomberg
      18 words
  • Article
    Lock icon iTunes Store here; bad news for local players
    969 1  -  iTunes Store set to shake up digital distribution market in Singapore By CHRISTOPHER LIM [SINGAPORE] Local digital media retailers found their honeymoon period abruptly cut short yesterday when Apple launched its iTunes Store here and in 11 other countries. iTunes not to
    969 words
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      215 1 BizIT Solid Lumia hurt by no Win 8 upgrade PAGE 27 COMPANIES Global IPO activity picks up in Q2 PAGE 6 PROPERTY Shadow office space increasing in Singapore PAGE 32 COMMENTARY Hispanics’ support for GOP hangs in balance PAGE 20 8 *****1 *****4 IWC Pilot. Engineered for aviators Spitfire Chronograph.
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      558 2 To cover tracks, funds sent ‘round-tripping’ NOT only were $24 million allegedly siphoned from City Harvest Church’s funds in sham bond deals, but another $26.6 million were also diverted and circulated to cover the tracks in an elaborate ploy. The prosecution laid out this case against CHC founder
      558 words
    • Article
      Lock icon Who is City Harvest’s Wahju Hanafi?
      463 2  -  An Indonesian with multiple links to Kong and affiliates By TEH SHI NING [SINGAPORE] Indonesian businessman Wahju Hanafi, the other beneficiary of funds allegedly diverted from City Harvest Church (CHC) to further Sun Ho’s music career, is a man with multiple links to the
      463 words
    • Article, Illustration
      Lock icon No obligation to verify girl’s age: Shaw’s lawyer
      966 2  -  Howard Shaw pleads guilty, but his lawyer argues against jail term By GRACE LEONG [SINGAPORE] Howard Shaw, along with two others from a group of 48 men charged with commercial sex with an underage prostitute, pleaded guilty yesterday and then launched a
      CHEW SENG KIM/THE STRAITS TIMES  -  966 words
    • Article
      Lock icon Durable goods rebound better than expected
      520 2 LATEST US DATA Reuters AP [WASHINGTON] Demand for long-lasting US manufactured goods rebounded more than expected in May and a gauge of business spending plans increased, but slowing global growth suggests the momentum might not be sustained. Slower growth in China and a looming
      Reuters; AP  -  520 words
    • Article, Illustration
      Lock icon Credo forms property fund management JV
      1131 4  -  It teams up with Republic Investment Management, plans to boost investment sales business By KALPANA RASHIWALA [SINGAPORE] Home-grown property agency Credo Real Estate, which is best known for en bloc sales, recently ventured into property fund management. “We have entered into a joint venture
      ARTHUR LEE  -  1,131 words
    • Article
      Lock icon Euro 2012: winners, losers on and off the field
      678 4  -  By LEE U-WEN [SINGAPORE] Football fans are known to travel far and wide to root for their favourite teams, coughing up thousands of dollars each trip for flights, hotel rooms and those all-important match tickets. But when times are bad, it
      678 words
    • Article, Illustration
      Lock icon F1 chief was conspirator in bribery case: prosecutors
      551 4 Bloomberg [MUNICH] Bernie Ecclestone was a conspirator in a bribery scheme that sent US$44 million to a Bayerische Landesbank executive to clear the 2005 sale of the lender’s stake in Formula One racing, prosecutors said. Formula One chief executive officer Mr Ecclestone,
      Bloomberg  -  551 words
    • Article
      Lock icon Judge stops US sales of Samsung Galaxy Tab 10.1
      601 4 Reuters [SAN FRANCISCO] A US judge has backed Apple Inc’s request to stop Samsung Electronics selling its Galaxy Tab 10.1 tablet in the United States, giving Apple a significant win in the global smartphone and tablet patent wars. Samsung’s Galaxy touchscreen
      Reuters  -  601 words
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      181 2 SEVEN SEAS CRUISES The True Luxi xury of Sailing £.SePav 7 Night Venetian Dreams, sailing from Athens (Piraeus) to Venice. From Only US$ 3,917.00 Free unlimited shore excursions at every port-of-call. i Regent Seven Seas Cruises offer the most inclusive luxury cruise experience, just for you. Travel in style with
      181 words
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      136 3 www.vw.com.sg You can’t buy style? m m Well just this once you can. New CC. Introducing the stylish 4-door coupe. The new CC is sleek, streamlined and designed for dynamic performance. You can even open it in style with convenient features such as its Keyless Entry and Start-stop System (KESSY)
      136 words
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      98 4 THE MONETARY AUTHORITY OF SINGAPORE Results of auction of taxable book-entry Singapore Government Bonds to be issued on 02 July 2012 Tenor Approximately 10 years Total Amount Allotted SGD 2,000,000,000 Amount Allotted to Non-Competitive Applications SGD 579,924,000 Amount Allotted to MAS SGD 400,000,000 Total Amount Applied SGD 4,617,066,000 Coupon Rate
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      90 5 MESURE et demesure A ft \V X FARM GIAN1 FLEL RIER 60 20. 40 K v V V V i I |*jF ;?j- s t f < V UV Din UI 7X11 V v v v N' i KALPAGRAPH Rose gold Automatic movement chronograph Hermes Alligator strap Made in Switzerland
      90 words
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      771 6 UP YOUR MANAGEMENT SKILLS Utilising areas of Productivity, Social Media Negotiation Who should attend: Corporate Communications Professionals, Human Resource Professionals, Head Hunters, Search firm owners, Team Leads, Departmental Heads, Operational Managers, Supervisors Register at www.stjobs.sg/seminars FULL-DAY WORKSHOPS Transforming Service Breakdown to Opportunities Monday, 18 June, SPH News Centre (9.30am to
      771 words
  • COMPANY NEWS
    • Article
      Lock icon Global IPO activity picks up in Q2
      516 6  -  Including Facebook’s IPO, US$41.8b was raised 2.4 times Q1’s US$17.4b By CAI HAOXIANG GLOBAL initial public offering (IPO) activity picked up in the second quarter of this year on a sequential basis, said a report from Ernst Young (E&Y) yesterday. A total of
      516 words
    • Article, Illustration
      Lock icon Emerging markets looking attractive: JPMorgan
      481 6  -  By CAI HAOXIANG INVESTORS scouring for buying opportunities may find emerging market stocks attractive because they are looking cheap, says a senior JPMorgan asset manager. Luke Richdale, managing director of global emerging markets, told BT that emerging market fundamentals are strong and inflation has been
      Source: Bloomberg  -  481 words
    • Article
      Lock icon DBS Bank India net up 164% to 3.36b rupees
      328 6  -  By NISHA RAMCHANDANI DBS Bank India has reported a 164 per cent surge in net profit to almost 3.36 billion rupees (S$75.3 million) for the 12 months ended March 31, 2012. Total income was 86 per cent higher at 10.63 billion
      328 words
    • COMPANY BRIEFS
      • Article
        Lock icon Pteris secures $30m contract
        41 6 PTERIS Global has bagged a $30 million contract for the construction of a baggage handling and screening system for North Carolina’s Charlotte Douglas International Airport in the US. The project is expected to be completed by 2014.
        41 words
      • Article
        Lock icon Adampak delisting tomorrow
        22 6 ADAMPAK Ltd will be delisted from the Singapore Exchange tomorrow. This follows the completion of its compulsory acquisition yesterday.
        22 words
      • Article
        Lock icon Lion Asiapac warns of Q4 loss
        54 6 LION Asiapac has issued a profit warning, saying it expects to report a net loss for the fourth quarter ending June 30 owing to impairment losses on the fair value of the group’s available-for-sale financial assets. This is expected to hit net earnings for
        54 words
      • Article
        Lock icon XMH posts $2.88m Q4 earnings
        75 6 XMH Holdings has reported a profit of $2.88 million, or 0.73 cents per share, for the fiscal fourth quarter ended April 30, 2012. This is a turnaround from the loss of $2.17 million a year earlier. Turnover rose 54.9 per cent to $26.14 million. The
        75 words
    • Article
      Lock icon k1 Ventures’ owners in bid to take it private
      507 7  -  Intention to offer 13.5 cents per share, 19.5% higher than last transacted price By LYNETTE KHOO THE majority shareholders of k1 Ventures intend to take the company private in an offer valuing it at $292.4 million. The voluntary conditional cash offer
      507 words
    • Article
      Lock icon MAS to open its third rep office abroad in Beijing
      422 7  -  By SIOW LI SEN THE Monetary Authority of Singapore (MAS) will open its third overseas representative office in Beijing to increase financial cooperation with the world’s second largest economy. MAS yesterday said it has signed an agreement with the People’s
      422 words
    • Article
      Lock icon Dubai’s Drydocks World to set up Asian joint venture with Kuok Group
      420 7 AP Reuters [DUBAI] Dubai’s shipyard operator Drydocks World signed a deal yesterday to form a joint venture for its Asian operations with Singapore’s Kuok Group, as it tries to close a US$2.2 billion debt restructuring. The new venture,
      AP; Reuters  -  420 words
    • Article
      Lock icon OKP ventures into property with 10% CSLP stake
      337 10  -  By NISHA RAMCHANDANI CIVIL engineering company OKP Holdings is diversifying into the property sector with the purchase of a 10 per cent stake in property development company CS Land Properties (CSLP). OKP is making an investment of $111,111 via its newly-formed subsidiary,
      337 words
    • Article
      Lock icon Creative Master shareholder making exit offer
      281 10  -  By NISHA RAMCHANDANI A SHAREHOLDER of Creative Master Bermuda, which is facing delistment after being on the watch-list of the Singapore Exchange (SGX) since 2010, has proposed to make an exit offer. According to an announcement that was released to the SGX yesterday, Bobby
      281 words
    • Article
      Lock icon Bond ETFs draw interest despite lagging returns
      404 10  -  Investors seen to be locking in certainty given the troubles in the eurozone By KENNETH LIM INTEREST in ex-change-traded bond funds has continued to grow in Singapore as investors seek to diversify their portfolios, although returns so far this year have not been
      404 words
    • Article
      Lock icon Interra eyes new oil and gas blocks in Myanmar
      573 10 Reuters [SINGAPORE] Singaporelisted oil and gas firm Interra Resources Ltd aims to aggressively develop its two onshore oil fields in Myanmar and is eyeing new oil and gas blocks slated to come up for tender this year. The company started out
      Reuters  -  573 words
    • Article
      Lock icon HKEx may reinstate stock closing auction
      394 10 Bloomberg [HONG KONG] Hong Kong Exchanges Clearing Ltd, the world’s sec-ond-largest stock-market operator, is considering the reinstatement of a closing auction for equities to calm price swings, according to its chief operating officer. The Hong Kong bourse operator suspended the auctions in March 2009
      Bloomberg  -  394 words
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      487 7 r V. el i -dt AN OFFSHORE OPPORTUNITY AS CLEAR AS THE CARIBBEAN WATER. Four new luxury hotels, a magnificent casino rivaling the best in Las Vegas and Monte Carlo, a Jack Nicklaus Signature Golf Course, three world-class spas and the most compelling collection of internationally renowned shopping, dining and
      487 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Window-dressing arrives early?
      555 8  -  ST Index leaps 36 points with turnover lacklustre at 1.8 billion units worth $1.06 billion STOCKS R SIVANITHY Senior Correspondent EARLY half-year “win-dow-dressing” or a “buy in anticipation” play ahead of this week’s summit meeting of European Union (EU) heads of state? These were two possible explanations
      Source: Bloomberg  -  555 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 8 Jun 27 VALUE CLOSE BT OB/OS 325.00 +73.0 BT CADI -*****.00 +124.0 BT 10-day MA -*****.00 +33.00 FTSE ST Mid Cap 668.32 +3.47 FTSE ST Small Cap 444.99 +4.49 FTSE ST All Share 690.22 +7.79 FTSE ST China Top 196.02 +1.55 FTSE ST China 219.93 +1.86 FTSE
      66 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 2 2 0 0 0 12 2 2 Manufacturing 63 44 28 5 7 6 68 51 34 Commerce 23 15 13 5 3 3 28 18 16 Tpt/Stor/Comms 24 7 10
      186 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      937 8  -  Compiled by LYNN KAN Singapore Exchange June 27 close: $6.33 Maybank Kim Eng Research, June 27 THE bidding war for the London Metal Exchange (LME) has ended with the Hong Kong Stock Exchange agreeing to pay £1.39 billion ($2.8 billion) for the world’s largest venue for trading met-als-based
      Source: Bloomberg  -  937 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,196 23,196 55,139 55,139 Manufacturing 417,232 47,026 464,258 212,936 1,744 214,680 Commerce 166,711 6,046 172,757 104,217 376 104,593 Tpt/Stor/Comms 87,561 19,230 106,791 134,130 3,350 137,480 Finance 12,656 27,197 39,853 125,663 12,356 138,019 Construction 53,850 5,253
      123 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      112 8 Stock name Close Change CapMallsAsia 1.550 +0.060 CapitaLand 2.670 +0.020 CapitaMall 1.845 +0.005 CityDev 10.650 +0.090 ComfortDelGro 1.510 DBS Grp 13.800 +0.270 F&N 6.820 +0.120 GLP 2.060 Genting SP 1.400 -0.010 Golden Agri 0.655 +0.015 HK Land 5.670 +0.100 JMH 48.350 -0.110 JSH 30.460 +0.610 Jardine
      112 words
    • Article, Illustration
      Lock icon Euro slips further ahead of EU summit
      458 8 CURRENCIES Reuters [NEW YORK] The euro fell for a third day against the dollar yesterday, after hitting a two-week low in the prior session, and analysts cautioned that more losses were likely ahead of a European Union (EU) summit that is not expected
      Reuters; BLOOMBERG  -  458 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      54 8 VOLUME ChinaTaisan 101,551,000 Artivision 65,390,000 Yoma 54,367,000 Interra 54,002,000 Golden Agri 45,997,000 Genting SP 36,103,000 Contel 35,782,000 Noble Grp 35,265,000 Lorenzo 30,223,000 NexGenSCom 30,178,000 VALUE($) DBS Grp 61,644,310 SingTel 53,663,960 SembMar 52,985,500 Genting SP 50,838,095 Noble Grp 39,247,830 Keppel Corp 36,651,480 UOB 35,286,590 Golden Agri 30,017,940 CapitaLand
      54 words
    • Article
      Lock icon RISES
      109 8 BY CENTS CLOSE UP Jardine C&C 4525 194.0 4.5 DBXT iBoxxSing 5SG$ ***** 180.0 1.4 JSH 3046 78.0 2.0 DBXT Nifty 10US$ 9165 61.3 0.5 UOB 1842 35.0 1.9 IS S&P500 ***** 33.2 0.2 DBS Grp 1380 27.0 2.0 DBXT MSAsExJp 10US$ 2834 26.8 0.7 DBXT MSTaiwan 10US$ 1613
      109 words
    • Article
      Lock icon FALLS
      125 8 BY CENTS CLOSE DOWN GLD 10US$ ***** -204.5 -1.0 DBXT E50 10US$ 3134 -67.7 -1.7 DBXT FTVietnam 10US$ 2314 -33.2 -1.1 Lyxor Indonesia10US$ 8554 -33.2 -0.3 JMH 4835 -14.1 -0.2 Hyflux 6% CPS 10 ***** -10.0 -0.1 MTQ Corp 74 -8.0 -9.8 DairyFarm 1044 -7.7 -0.6 IS LC 1-3Y
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
      5 words
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      181 9 A Straits Times Appreciates Readers Event Watch 4Minute concert and get FREE tickets to Universal Studios Singapore® Singapore Flyer July 15, Sunday, 6.30pm Gardens by the Bay $67 for The Straits Times readers (Usual price $75) Tanya Chua Enjoy a 3-hour concert with performances from international stars Tanya Chua, 4Minute,
      181 words
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      2440 10 Armarda Group Limited (Incorporated In Bermuda) Company Registration No. ***** NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 2012 Annual General Meeting of Armarda Group Limited (the “Company”) will be held at Room 3501, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong and via
      2,440 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Growing bilateral ties with Germany
      453 11  -  Dr Tan calls on and assures Chancellor Merkel of S’pore’s commitment Reports by KELLY TAY in Berlin SINGAPORE remains committed to deepening bilateral relations with Germany, particularly in the field of research and development, said President Tony Tan Keng Yam yesterday. He expressed this sentiment
      MICA  -  453 words
    • Article
      Lock icon Five solar energy research projects receive $11 m in grants
      407 11  -  By MALMINDERJIT SINGH THE sun shone brightly on the solar energy industry in Singapore yesterday as key research projects received a boost from handsome government funding. The Energy Innovation Programme Office (EIPO), formerly known as the Clean Energy Programme Office
      407 words
    • Article
      Lock icon Bavarian firms see Singapore as ideal test-bed location
      514 11 IN SPITE OF or perhaps because of its small size, Singapore is seen as a strategic location to test new technologies, especially those pertaining to urban solutions for cities. So said top management representatives from Bavaria-based Siemens and Infineon Technologies on Tuesday,
      514 words
    • Article
      Lock icon Wealth camp for children of Citigold private clients
      351 11  -  By APRIL CHYE THE children of some wealthy Citibank clients received a little timely schooling on the words business and finance. Aged between 18 and 24, these young people were shown a thing or two about managing wealth and business, and imparted
      351 words
    • Article
      Lock icon S’pore business sentiment tops global average
      473 11  -  It’s a 10-point jump and second highest index score since ’09 By GLENN CHOO DESPITE a less positive global outlook, the confidence level of Singapore businesses involved in cross-border trade has increased and is higher than the global average. According to HSBC’s latest Trade
      473 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon Two industrial sites up for tender
        109 11 THE Urban Redevelopment Authority (URA) launched two industrial sites at Bukit Batok Street 23 and Yishun Avenue 9 (Parcel 5) for sale by public tender yesterday. These two sites are part of the 16 industrial sites announced for sale under the Confirmed List of
        109 words
      • Article
        Lock icon Chaly Mah reappointed SLA chair
        84 11 THE Minister for Law has re-appointed Deloitte Asia-Pacific CEO Chaly Mah as the chairman of the Singapore Land Authority (SLA) for a further term of two years, starting from Aug 1. The other four members who have been reappointed as members of the SLA are
        84 words
      • Article
        Lock icon SPH Magazines wins 3 MPAS Awards
        72 11 SPH Magazines Pte Ltd won three awards at the MPAS Magazine Awards 2012 organised by the Magazine Publishers Association of Singapore (MPAS). The Peak won an award for Consumer Magazine of the Year in a tie with Ink Publishing’s TimeOut Singapore. The Peak Selections:
        72 words
      • Article
        Lock icon Walt Disney S-E Asia appoints senior team
        60 11 THE Walt Disney Company South East Asia has announced the appointment of the senior management team reporting to managing director Robert Gilby. Amit Malhotra has been appointed general manager for media distribution sales. Natasha Malhotra joins as general manager for branded media content,
        60 words
    • Article
      Lock icon Income inequality here seen as one of the region’s highest
      414 11  -  9 in 10 polled can’t tell which income bracket they’re in By LIM WEI SHENG IT’S a head-scratching paradox. While Singaporeans perceive income inequality levels here as being one of the highest in the region, nine out of 10 don’t
      414 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon ECB considers rate cuts to zero or even lower
      1071 12 Move could boost lending by deterring banks from parking liquidity with ECB Bloomberg [BRUSSELS] European Central Bank president Mario Draghi is contemplating taking interest rates into a twilight zone shunned by the Federal Reserve. While cutting ECB rates may boost confidence,
      Bloomberg; REUTERS  -  1,071 words
    • Article, Illustration
      Lock icon Sales tax rise may stall Japan economy
      807 12 Recovery could grind to a halt in 2014, say UBS and Itochu Bloomberg [TOKYO] Japan’s Prime Minister Yoshihiko Noda risks stalling the economy by pushing through a higher sales tax that may damp consumption even as it aids efforts to tame the world’s
      Bloomberg  -  807 words
    • Article
      Lock icon Hedge fund legend Steinhardt says euro situation overblown
      456 12 Reuters [LONDON] Michael Steinhardt, one of the legends of the hedge fund industry, thinks there’s too much hysteria these days about the eurozone blowing up. “My feeling is that the present mentality is worse than the realities,” said Mr Steinhardt, who retired
      Reuters  -  456 words
    • Article
      Lock icon E Europe ‘growth to expand in 2013’
      273 12 Reuters [PRAGUE] The impact of the eurozone debt crisis and the global economic slowdown will cut growth in half in the European Union’s (EU) developing east, but the region’s economies will accelerate again in 2013, the World Bank said in a report yesterday.
      Reuters  -  273 words
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      779 12 'S* ESAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Each Holder of the Notes (each as defined below) The Bank of New York Mellon 101 Barclay Street 21stFloor West New York, NY ***** U.S.A. Attention: Global Corporate Trust cc: The Bank of New York Mellon One Temasek Avenue #02-01 Millenia
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      226 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SKYWALKER MARKETING PTE LTD (IN LIQUIDATION) COMPANY REG. NO. *****3399W NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308(1) of the Companies Act, Cap. 50, FINAL MEETING of the Members and Creditors
      226 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Asia Petroleum Hub still waiting for rescuer
      494 13  -  Multi-billion oil terminal in Johor, under receivership, needs more funds By PAULINE NG in Kuala Lumpur GIVEN its first-mover advantage in the Johor oil and gas scene, the Asia Petroleum Hub (APH) should already be up and running and profiting its backers. Instead,
      494 words
    • Article, Illustration
      Lock icon Central bank buying likely focus of Asia gold summit
      649 13 Reuters [JAKARTA] Weak bullion prices and prospects for bargain buying by central banks are likely to take centre stage at a gold industry gathering in Indonesia this week, along with the country’s plans for a raft of new mining regulations that
      Reuters; REUTERS  -  649 words
    • Article
      Lock icon RM13.8b of MRT work awarded: KL
      462 13  -  MTD says work on 3.8km viaduct to be completed in 4 years By S JAYASANKARAN in Kuala Lumpur ABOUT a third of work worth RM13.8 billion (S$5.5 billion) on the Klang Valley mass rapid transit system has been awarded so far. The state-owned MRT
      462 words
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      77 13 J 03 COFFEE AND CONVERSATION BETWEEN DECISIONS, DECISIONS. Cafes one on every floor offer pause from the rush of shopping. So when your feet tire, let your taste buds take over. Bakerzin Cafe Manuka Canele Patisserie Chocolaterie Cava, Pasticceria Confetteria Dome Cafe O'Coffee Club PS.Cafe Starbucks The Coffee Bean Tea
      77 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Coca-Cola to invest another US$3b in India
      403 14 AP [NEW YORK] The Coca-Cola Co and its bottlers plan to invest an additional US$3 billion in India over the next eight years to boost the soda giant’s stake in the rapidly growing market. The world’s biggest beverage maker, whose brands include Minute
      AP  -  403 words
    • Article
      Lock icon Beijing to expand offshore use of yuan in HK
      675 14 Move will further secure HK’s position as a major global financial centre Reuters [BEIJING] Beijing will promote the further development of the offshore yuan market in Hong Kong as part of a new package of policies for the territory ahead the
      Reuters  -  675 words
    • Article, Illustration
      Lock icon China offers US$10b credit line to Latin America
      384 14 Reuters [SANTIAGO] Chinese Premier Wen Jiabao wrapped up a tour of resource-rich Latin America on Tuesday by offering US$10 billion in credit for infrastructure projects and calling for a joint push to combat protectionism. Mr Wen proposed a free-trade deal with the
      Reuters; REUTERS  -  384 words
    • Article
      Lock icon Chow Tai Fook annual profit leaps 79%
      473 14 Bloomberg [HONG KONG] Chow Tai Fook Jewellery Group Ltd, a Hong Kong-based chain with more revenue than Tiffany Co, said that profit jumped 79 per cent last fiscal year as it expanded and benefited from higher luxury spending in China. Net income rose
      Bloomberg  -  473 words
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      923 14 >aH SAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices 0 Mega ICBC MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. HEAD OFFICE: No. 100, Chi-lin Road, Chung-shan Dist., Taipei *****, Taiwan Tel: +886-2-2563 3156 Fax: +886-2-2356 8936 Singapore Branch: 80 Raffles Place #23-20 UOB Plaza II Singapore *****4 Tel: (65)6227 7667 Fax:
      923 words
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  • WORLD
    • Article, Illustration
      Lock icon Barclays struggles to gain ground on rivals in Asia
      1205 15 Operations face high costs, delays in equity platform roll-out, strong competition Reuters [LONDON] Three years into Barclays’ costly global expansion from fixed-in-come shop to full investment bank, the Asia leg of the build-out is struggling to gain ground on its rivals.
      Reuters; REUTERS  -  1,205 words
    • Article, Illustration
      Lock icon Morgan Stanley in Facebook fallout
      646 16 Ruckus Wireless passes it over for Goldman Sachs as IPO lead underwriter Reuters [NEW YORK] Morgan Stanley was quick to dismiss suggestions that its status as the king of initial public offerings (IPOs) for Silicon Valley was under threat after the botched Facebook Inc IPO
      Reuters; AP  -  646 words
    • Article
      Lock icon Glencore bid in doubt on Qatar demand
      582 16 Big Xstrata investor wants £16.9b offer increased by 16% Bloomberg [LONDON] Glencore International plc’s £16.9 billion (S$33.8 billion) offer for the rest of Xstrata plc is in doubt after the target’s sec-ond-largest shareholder demanded the bid be increased by 16 per cent. Qatar
      Bloomberg  -  582 words
    • Article, Illustration
      Lock icon No seat on Fairfax board for world’s richest woman
      567 16 Group cites editorial integrity in rejecting Rinehart’s request AFP [SYDNEY] Australian media group Fairfax yesterday rejected a push for seats on its board by Gina Rinehart, its biggest shareholder and the world’s richest woman, citing editorial independence. Ms Rinehart, who recently
      AFP; REUTERS  -  567 words
    • Article
      Lock icon Larsen is global head of Citi’s retail bank
      233 16 Reuters [HONG KONG] Citigroup Inc has named Jonathan Larsen as global head of its retail bank, filling the position for the first time with an Asia-based banker, in a move underscoring the company’s growth in the region. Citigroup’s consumer bank is one
      Reuters  -  233 words
    • Article
      Lock icon US nabs 24 in credit card fraud sting
      541 17 Those arrested come from 13 countries including US, Bosnia, Japan and UK Bloomberg [WASHINGTON] Two dozen people in 13 countries including the US, Bosnia and Japan have been arrested in a global undercover sting operation targeting creditcard hackers said to have affected
      Bloomberg  -  541 words
    • Article
      Lock icon EU court upholds Microsoft penalty, cuts fine by 4.3%
      512 17 It rejects all of firm’s arguments for failing to obey order Bloomberg [BRUSSELS] Microsoft lost a European Union challenge to an 899 million euro (S$1.45 billion) antitrust fine, with a court saying it “essentially” upheld the penalty. The EU General Court
      Bloomberg  -  512 words
    • Article, Illustration
      Lock icon Nora Ephron, author of ‘When Harry Met Sally’, dies at 71
      571 17 Popular Hollywood veteran succumbs to leukaemia Bloomberg [WASHINGTON] Nora Ephron the author, screenwriter and playwright whose wry take on life, love and loss informed the hit films When Harry Met Sally and Sleepless in Seattle as well as the
      Bloomberg; REUTERS  -  571 words
    • Article, Illustration
      Lock icon Merkel dismisses push to pool debt on eve of EU summit
      653 18 She sees eurobonds, euro bills, debt redemption funds as counterproductive AP [BERLIN] German Chancellor Angela Merkel yesterday brushed aside the latest push to pool European debt, arguing that it would be “economically wrong and counterproductive” to make such a
      AP; REUTERS  -  653 words
    • Article, Illustration
      Lock icon Bank of Cyprus asks for state capital support
      495 18 Reuters [NICOSIA] The cost of Cyprus’s EU bailout to support a major bank jumped unexpectedly yesterday after the island’s largest lender said that it too needed state support to meet a regulatory shortfall in capital by June 30. The tiny Mediterranean island
      Reuters; AFP  -  495 words
    • Article
      Lock icon Five big US banks make ‘living wills’
      456 18 Reuters [NEW YORK] Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations. The plans, known as living
      Reuters  -  456 words
    • Article
      Lock icon Swiss to expand powers of anti-money laundering team
      234 18 Reuters [ZURICH] Switzerland will widen the powers of its an-ti-money laundering unit as it gets tough in the fight against illegal money flows and the financing of terrorism. The Money Laundering Reporting Office Switzerland (MROS) will be allowed to request data from
      Reuters  -  234 words
    • Article
      Lock icon Spain insists EU deliver aid directly to banks
      384 18 It says economy fell further in Q2, sees sharper contraction AP [MADRID] Spain insisted yesterday it will continue to push for European financial aid to be delivered directly to its troubled banks, rather than count as government debt, warning that these were
      AP  -  384 words
  • Page 15 Advertisements
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      1280 15 WATS w3* NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg mandin CONSOLIDATED BALANCE SHEETS December 31,2011 and 2010 (Expressed in millions of Rupiah, unless otherwise stated) ASSETS 2011 2010 Cash 11,357,523 9,521,713 SUBSIDIARY COMPANIES Bank Mandiri (Europe) Limited (BMEL) FT Bumi Daya Plaza Mandiri International Remittance Sendirian Berhad FT Bank Sinar Harapan
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      1229 16 KATSi NOTICES Group Ltd (Incorporated in the Republic of Singapore) Registration No. *****6220H NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at Jurong Country Club, Albizia Room, Level 2, 9 Science Centre Road Singapore *****8 on 13 July
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      1937 17 B8AI9 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Head Office: 30, avenue Pierre-Mendès-France, ***** Paris, France Singapore Branch: 50 Raffles Place #41-01 Singapore Land Tower, Singapore *****3 CONSOLIDATED BALANCE SHEET ASSETS CONSOLIDATED BALANCE SHEET LIABILITIES AND EQUITY 31/12/11 31/12/10 Assetsin millions Cash and balances with central banks 5,567) 12,167) Financial
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  • FOCUS: BIG BANKS
    • Article, Illustration
      Lock icon Good time to break up big US banks
      1888 19 Their parts are worth more than the whole as they languish on the stock market Bloomberg [NEW YORKI] SEVENTEEN years ago fund manager Michael F Price spurred the merger of Chase Manhattan Corp and Chemical Banking Corp, creating what was then the
      Bloomberg; AFP  -  1,888 words
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      1848 19 FASTUBE LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****1055E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Fastube Limited (the “Company”) will be held at Six Battery Road #10-01, Singapore *****9 on 20 July 2012 at 10.00 a.m. for
      1,848 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon ‘Risk-off’ makes more sense than ‘risk-on’
      522 20 EDITORIAL EQUITY market analysts have in recent weeks recommended that investors look to buy for three reasons. First, stocks are cheap relative to apparently similar periods in the past, such as the Lehman-triggered crisis of 2008. Second, world leaders will not allow the eurozone
      522 words
    • Article, Illustration
      Lock icon Economic models for US, Europe, China not working
      758 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group WE live in a world of broken models. To understand why world leaders can’t easily fix the global economy, you have to realise that the economic models on which the US, Europe
      The Washington Post Writers Group  -  758 words
    • Article, Illustration
      Lock icon Hispanics’ support for GOP hangs in balance
      1096 20  -  Its position on Arizona immigration law may help Obama win the Republican-leaning state LEON HADAR Washington Correspondent THIS week’s decision by the US Supreme Court to strike down three of the four contested provisions of the tough immigration law approved by the state
      AFP  -  1,096 words
    • Article, Illustration
      Lock icon Why Germany will pay up
      1503 21  -  The cost of euro dismemberment would be far more than that of keeping the currency together By EDUARDO PORTER NYT TO GO by the pronouncements coming out of Germany over the past couple of weeks, you might naturally conclude that the euro is toast. Speaking
      NYT; REUTERS  -  1,503 words
    • Article, Illustration
      Lock icon How 50 billion could save the euro
      913 21  -  REUTERS BREAKINGVIEWS By HUGO YOUNG THE break-up of the euro would be a multi-trillion euro catastrophe. An interest subsidy costing around 50 billion euros (S$79.8 billion) over seven years could help save it. The immediate problem is that Spain’s and Italy’s borrowing costs
      913 words
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Volvo Trucks making its presence felt here
      623 22  -  It is now the leading continental brand in heavy vehicle and equipment sector By VEN SREENIVASAN [SINGAPORE] Swedish truck and heavy equipment giant Volvo has seen strong growth in the Asia-Pacific region and Singapore over the past year, and is now the leading
      623 words
    • Article, Illustration
      Lock icon Incheon among bidders for Stansted
      691 22 Bloomberg [LONDON] South Korea’s Incheon International Airport Corp may be among bidders for London’s Stansted terminal should owner BAA Ltd be thwarted in its attempts to halt a sale ordered by UK antitrust regulators. Incheon, which earlier this year made a failed approach for BAA’s
      Bloomberg; BLOOMBERG  -  691 words
    • Article
      Lock icon Planemakers in tight race to hire engineers
      747 22 Boeing working with Hollywood to boost engineers’ image AFP [PARIS] The race to sell airliners, particularly between Airbus and Boeing, is putting the aerospace companies of the world in cut-throat competition to recruit engineers. There is a worldwide shortage of people with the
      AFP  -  747 words
    • Article
      Lock icon Capesize rate average hitting the bottom
      417 22 Bloomberg [LONDON] Hire costs for capesize vessels that carry iron ore and coal are heading for the lowest quarterly average since at least 1999 as slowing growth in Chinese steel production curbs shipments. Daily rates for the 1,460 vessels that account for about 40
      Bloomberg  -  417 words
    • Article
      Lock icon German bank to wind down ship finance unit
      301 22 Bloomberg [FRANKFURT] Commerzbank AG, Germany’s second-largest lender, will wind up its commercial real estate and ship-finance businesses as it conducts a “rigorous review” amid Europe’s debt crisis. “Against the background of the ongoing financial and sovereign-debt crisis, an end to which is
      Bloomberg  -  301 words
    • Article
      Lock icon TRANSPORT STOCKS
      255 22 SGX '000 Jun 27 S$ +/-Vol CH Offshore 0.41 unch 95 Chuan Hup Hldg 0.23 0.01 50 Cosco Corp 0.98 unch 9864 s$ Ezra Hldgs 1.07 0.03 7425 First Ship Lea 0.18 -0.01 400 Freight Links 0.07 unch 2340 Grand Banks unch unch 0 Jaya Hold Ltd 0.57
      255 words
    • Article
      Lock icon The Business Times Shipping times
      1976 23 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 Destination STXPO TBN
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      340 22 CRYPTIC CROSSWORD Across 1 Apostle unknown to give church offence (6) 4 It helps to pick fruit to cover each tart alternately (8) 10 Lady Gaga fronts new sing-er-songwriter (5) 11 Improvement towards end of game from one side (9) 12 Report is about resistance supporter (7) 13 Title Beatles’
      340 words
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      17 23 *-]&~,,]<`,(&(@>-_:@(>;*>|!$|}) FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II
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      30 23 Experienced ship maintenanceMyou y r services services wanted, herein the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times I ML UU Jll'JCJJ IIIVICJ Shipping Times
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2987 24 Transaction date: Jun 27 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 Company Last Sale Vol Day Last Quote ('000) High Low Buyer Seller 123 92.5 AIMSAMPIReit 120 unch 293 120.5 120
      2,987 words
    • Article
      Lock icon SGX CATALIST
      170 25 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 Company Last Sale Vol (’000) Day High Last Quote Low Buyer Seller Div Gr Yld C’vr Net P/E M Cap Smil 1 18.5 18.5
      170 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      8072 25 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha FundCI A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mgt S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond 1.0017/ EM Local Ccy Bond
      8,072 words
    • Article
      Lock icon SGX ETF 52-Wk
      969 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 113 ABF SG Bond ETF 119 11 120 119 119.5 543.2 122.4 122.2 CIMB APAC Div 100S$D 122.2 123 123.5 103 95.8 CIMB APAC
      969 words
    • Article
      Lock icon GLOBALQUOTE
      187 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 46 25.5 Genting HK US$ US31 -0.5 6252 31.5 30.5 31 31.5 2041.2 Vol 201 168 TanChongInt HK189 188 4.3 3.7 6.3 3806.3 STOCK PRICES LEGEND: Straits
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX FUTURES
      617 26 Jun 27 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8677.76 8730.49 8641.52 Sep12 8685.00 8740.00 8640.00 8735.00 ***** *****9 Dec12 8675.00 157 6561 MSCI TAIWAN INDEX FUTURES SPOT 253.41 256.08 253.13 Jun12 253.40 256.00 251.60 255.20 *****7 ***** Jul12 245.90 248.40 244.10 248.00 *****
      617 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr Jun 26 Index Change Change Change Change Change Change World Preliminary 841.6 -0.1 1.4 -0.3 -0.8 0.0 0.5 EAFE Preliminary 671.0 -0.4 -1.6 -0.6 -5.0 -0.2 -3.8 Europe Preliminary 995.1 -0.2 -3.1
      373 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      127 26 As on 26 June 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT AUG2012 525.70 521.15 525.45 864 CURRENCY EUR-USD FUT SEP2012 1.2531 1.2452 1.2511 1515 BASE METAL COPPER FUT JUL2012 7334 7278 7301 4054 INDEX IRON ORE (MBIO) IDX
      127 words
    • Article
      Lock icon CHICAGO BOT
      107 26 Jun 26 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 12 1470.50 1482.50 1496.75 1466.00 Aug 12 1455.50 1467.00 1479.50 1450.00 Sep 12 1425.75 1440.00 1452.00 1420.50 Nov 12 1413.25 1425.50 1438.75 1406.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 12 50.88
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS Jun 26 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 91.57 1.53 WTI (Near Mth) 79.41 0.04 Dubai (1-Mth F) 89.78 1.26 Tapis blend 94.58 1.13 Minas 96.08 1.13 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 79.28 3.00 Jet Kerosene 107.37 1.16 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      24 26 Jun 27 Jun 27 s$ Bid Offer 1-month 1.2779 1.2787 2-months 1.2779 1.2787 3-months 1.2777 1.2785 6-months 1.2766 1.2776 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      64 26 Jun 26 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1806.50 1826.50 3 months 1845.00 1865.00 Copper, Grade A(US$/tonne) Cash 7374.50 7345.75 3 months 7359.00 7335.50 Lead(US$/tonne) Cash 1748.75 1770.00 3 months 1768.00 1788.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3 months *****.00
      64 words
    • Article
      Lock icon LIFFE
      80 26 Jun 26 COCOA (£/tonne) Close Prev High/Low Jul 12 1509 1488 1515/1493 Sep 12 1492 1470 1500/1474 Dec 12 1474 1443 1481/1447 Mar 13 1459 1427 1465/1432 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2042 5012 2070/2015 Sep 12 2080 2030 2093/2034 Nov 12 2080 2029 2095/2031 Jan 13 2067
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1279 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 1 146 369 8.00 23 Conv Ratio Baker Technology Ltd W*****6 0.6 1 32 12 48.33 5 Price Best World Intl Ltd W*****5 0.6 1 30 75
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    • Article
      Lock icon INTERBANK CROSS RATES
      470 26 Jun 27 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.031 6.402 0.805 7.804 57.507 95.350 0.801 11.635 3.211 1.274 95.078 42.631 1.286 8.478 0.967 30.102 32.065 0.644 1.006 Canada 0.969 6.206
      470 words
    • Article
      Lock icon SIBOR
      54 26 Jun 27 (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$) 0.***** 3 mths 0.***** 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1 yr 0.*****
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    • Article
      Lock icon PRECIOUS METALS
      136 26 Jun 27 GOLD(US$/oz) Jun 27 Jun 26 Hong Kong 1576.30 1592.00 Jun 26 Jun 26 Jun 25 London 1569.80 1571.30 1570.60 1572.10 Source: Thomson Reuters CAST BAR Jun 27 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 156 65 5gm 442 324 10gm
      136 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      88 26 Jun 27 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 27-Sep-12 0.28 1-Year BY*****T 02-May-13 0.27 0.23 0.23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.14 5-Year N*****0Z 2.375 01-Apr-17 109.09 109.26 109.18
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    • Article
      Lock icon PALM OIL
      59 26 Jun 27 Jun 27 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 12 3019.0 3015.00 3028.0 2995.0 103 2764 Aug 12 3007.0 3023.00 3033.0 2999.0 968 ***** Sep 12 3016.0 3032.00 3043.0 3004.0 ***** ***** Oct 12
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 26 Jun 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2852 1.2862 1.0057 1.0059 Canadian dollar 1.2458 1.2471 0.9753 0.9748 Euro 1.5965 1.5976 1.2493 1.2494 NZ dollar 1.0084 1.0095 0.7891 0.7895 Sterling pound 1.9957 1.9973 1.5617 1.5620
      154 words
    • Article
      Lock icon INTERBANK RATES $S Offer
      163 26 Jun 27 Bid $S Offer Bid 0vernight 0.02 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.03 US$ Offer Bid 7 days 0.30 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
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Jun 27 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.314 1.252 Can dollar 1.276 1.216 Euro 1.632 1.555 Sterling pound 2.035 1.957 NZ dollar 1.037 0.988 US dollar 1.297 1.248 Local dollars to 100 units of foreign
      121 words
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • Article
      Lock icon 4,500 S’pore firms on Microsoft’s Office cloud
      737 27  -  Tiger, NTUC Unity, TeleChoice put 2,000 staff on the firm’s Web apps By VICTORIA HO IT HAS been a year since Microsoft launched the cloud version of its Office suite of products, and now hosts 4,500 customers in Singapore. Among them are a
      737 words
    • Article
      Lock icon New firm aims to ride high in wireless domain
      653 27  -  Cambium Networks eyes establishing Asia-Pac presence By CLEMENT TEO [SINGAPORE] Cambium Networks may be a newcomer to the telco sector, but the company’s employees have been around for a lot longer. Known previously as the Wireless Broadband Solutions Group inside Motorola,
      653 words
    • Article, Illustration
      Lock icon Solid Lumia hurt by no Win 8 upgrade
      929 27  -  Top-end Nokia device made a splash when it came out but its inability to move up to next Windows OS means you should wait <cool stuff> By VICTORIA HO A RATHER embarrassing story for Apple and Samsung came out a couple of
      929 words
    • Article, Illustration
      Lock icon Translating research into business solutions
      968 27  -  By TIMOTHY LOH GOOGLE Translate is making strides in helping businesses function in a world where geographical boundaries are becoming increasingly fuzzy, says Ashish Venugopal, research scientist at Google. “Content on the Web is dramatically changing from being English-centric to very multilingual,” he said, explaining
      968 words
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  • PROPERTY
    • Article, Illustration
      Lock icon It’s still early to buy land in China: Hang Lung
      408 28 Land prices may drop further; market not going to take off soon: chairman Bloomberg [HONG KONG] Land prices in China may drop further and it is still too early to buy land in the country, said Ronnie Chan, chairman of
      Bloomberg; REUTERS  -  408 words
    • Article
      Lock icon Househunt
      976 28 PROPERTY TRANSACTIONS FOR DISTRICTS 2 TO 28 WITH CONTRACT DATES BETWEEN MAY 30 AND JUNE 5, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Eon Shenton Apt 01/06/2012 99 538 1439 2675 Eon Shenton Apt 05/06/2012 99
      976 words
    • Article
      Lock icon Surge in Saudi hotels as Mecca goes upscale
      671 29 Demand for better Haj accommodation with rising wealth across Islamic world Bloomberg [DUBAI] The pilgrimage starts with a private jet to an exclusive airport in Saudi Arabia, where passengers are treated to a buffet while travel-company employees process their immigration documents. The
      Bloomberg  -  671 words
    • Article
      Lock icon Value of properties sold at auction rises 15.9% in Q2
      722 30  -  With $34.3m sales in first half, Colliers sees full-year total of about $70m By KALPANA RASHIWALA [SINGAPORE] The value of properties sold at auction rose 15.9 per cent quarter on quarter to $18.4 million in the second quarter, taking the
      722 words
    • Article
      Lock icon Japan’s Aeon eyes Asia expansion
      177 30 Reuters [CHIBA, Japan] Japan’s largest retailer by revenues, Aeon Co, is accelerating its expansion in Asia, hoping to open branches in about 2,500 new locations in the region outside Japan, with half of them likely to be in China, a senior executive said yesterday. “As
      Reuters  -  177 words
    • Article
      Lock icon UK net mortgage lending posts first fall since 1997
      349 30 Data signal that housing market is still depressed Reuters [LONDON] Mortgage approvals by Britain’s high street banks fell to their lowest level in over a year in May and households continued to pay down debt, the British Bankers’ Association (BBA) said,
      Reuters  -  349 words
    • Article, Illustration
      Lock icon S’pore moves up in property transparency
      607 31  -  But it is overtaken by Hong Kong in Global Real Estate Transparency Index By FELDA CHAY [SINGAPORE] Singapore moved up a few rungs in a global ranking on transparency levels in the real estate sector, only to see competitor Hong Kong overtake it in
      607 words
    • Article
      Lock icon Fortress said to be targeting US$1 b for Japan property fund
      515 31 Bloomberg [TOKYO] Fortress Investment Group LLC, the investment company overseeing US$46.4 billion, wants to raise US$1 billion for a Japanese property fund by the end of the year, two people familiar with the plan said. The company’s second Japan
      Bloomberg  -  515 words
    • Article, Illustration
      Lock icon Credo keeps edge in en bloc sales by brainstorming
      1106 32  -  It has accounted for $1.8b or 30% of the $5.8b in transactions since 2010 By KALPANA RASHIWALA [SINGAPORE] A defining moment for Credo Real Estate was a brainstorming session at the end of 2006, when the property consultancy was in its
      ARTHUR LEE CH  -  1,106 words
    • Article
      Lock icon Shadow office space increasing in Singapore
      540 32  -  By AUDREY TAN [SINGAPORE] Shadow office space in Singapore is expected to rise amid global economic uncertainty that continues to plague occupier sentiment. Data released yesterday by property consulting group DTZ showed that the stock of shadow office space islandwide was 285,000 square feet
      540 words
  • Page 28 Advertisements
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      Lock icon Page 28 Advertisements Column 1
      152 28 www.joneslanglasalle.com.au/properties Irreplaceable opportunity between the river and sea Perth, Australia FOR SALE Perth CBD Bracks Street, North Fremantle, Western Australia Total land holding of 16,860sqm* Substantial improvements with two storey office and warehouse. Total area of 13,996sqm* Substantial holding income of approx AUD$1,027,000p.a. Benefits from high level exposure within walking
      152 words
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      Lock icon Page 28 Advertisements Column 2
      39 28 8 Nassim Hill (Luxury Home) 3 storey “Townhouse” Penthouse Immediate Occupation Private Pool with Lawn Cobroke welcome Freehold. Foreigners eligible ReAnne Leu: 9183 3547(CEA Reg No: R*****2B) DTZ Debenham Tie Leung (SEA) Pte Ltd Estate Agent Licence No: L*****01G
      39 words
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  • Page 29 Advertisements
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      Lock icon Page 29 Advertisements Column 1
      76 29 Freehold Site for Landed Housing Development Not To Scale. For Reference Only. Prime District 11 location Exclusive Bukit Tunggal GCBA Chancery neighourhood Site Area 9,696.3 sm (104,370 sf) MP 2008 ‘2-storey mixed landed’ Within 1 km to ACS (Barker) Near shopping medical hub in Novena Contact: DTZ Investment Advisory Services
      76 words
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      Lock icon Page 29 Advertisements Column 2
      1044 29 k-0 NUS National University of Singapore e in Real Estate Finance te and Capital Markets Wm m m k V vv i m MODULE 2 Real Estate Finance Securitisation 13-17 AUGUST 2012 COURSE OBJECTIVES The evolution of the real estate investment industry has created a demand for a special group
      1,044 words
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