The Business Times, 2 July 2012
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2012-07-02
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The Business Times
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Title Section19 2012-07-02 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, July 2, 201219 words
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Article, Illustration1033 2012-07-02 1 VIKRAM KHANNA - Despite many ifs and buts, this could be the summit that saved the euro COMMENTARY VIKRAM KHANNA Associate Editor THE nineteenth time, they finally did it. For 18 summits over the last two years, the leaders of the eurozone have done little1,033 words
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MARKETS DIGEST
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Article57 2012-07-02 1 Weekly Change ST INDEX 2,878.45 +50.36 KL COMP 1,599.15 -3.92 NIKKEI 225 9,006.78 +208.43 HANG SENG 19,441.40 +446.30 SET INDEX 1,172.11 +19.20 JAKARTA COMP 3,955.58 +66.06 MANILA COMP 5,246.41 +126.34 SEOUL COMP 1,854.01 +6.62 SHENZHEN B 627.46 -9.40 MUMBAI IND 17,429.90 +457.40 DOW 12,880.09 +239.31 NASDAQ 2,935.05 +42.63 S&P57 words
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Article18 2012-07-02 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.036 JAPAN 1.475 KOREA Source: Bloomberg18 words
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Article49 2012-07-02 1 us$ s$ US$ (S$ per US$) 1.271 (US$/S$ per 1.562 1.985 EURO (US$/S$/E) 1.256 1.596 Foreign currency per US$ S$ YEN 79.60 62.60 RM 3.181 2.503 HK$ 7.756 6.103 BAHT 31.78 25.01 RUPIAH 9,390 7,389 RENMINBI 6.357 5.002 INDIAN RUPEE 56.29 44.29 A$ 0.984 0.774 NZ$ 1.254 0.98749 words
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Article778 2012-07-02 1 LYNN KAN - Singapore corporate repurchases in Q2 hit $904m By LYNN KAN [SINGAPORE] Listed companies, stung by market selldowns due to the eurozone debt crisis, have bought back their own shares with a vengeance in the second quarter. Total buyback value reached $904.5 million as at June 29,778 words
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Advertisement270 2012-07-02 1 DINING OUT Absinthe’s new digs by the river PAGE 23 BizIT Half of a firm’s value lies in info it possesses PAGE 30 YOUNG INVESTORS’ FORUM Rise of the emerging MNCs PAGE 11 VIEWS FROM THE TOP Weathering the euro storm pages 12-13 BT WEBSITES For breaking news, go to270 words
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TOP STORIES
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Article, Illustration561 2012-07-02 2 LEE U-WEN - Govt still committed to improving liveability standards, says PM Lee By LEE U-WEN [SINGAPORE] As densely populated as Singapore may be, the government remains committed to improving liveability standards such that the city-state becomes known as “one of the jewelsKEPPEL CORPORATION - 561 words
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761 2012-07-02 2 LYNETTE KHOO - By LYNETTE KHOO [SINGAPORE] eSys Technologies has lost its case for a refund of the deposit it had placed to engage the services of nTan Corporate Advisory. The High Court ruled on Friday that nTan was entitled to value-added fees761 words
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Article567 2012-07-02 2 LYNN KAN - This year will see an Industrial Water Solutions Forum By LYNN KAN [SINGAPORE] Singapore International Water Week (SIWW) is more than a grand old networking session of water companies, government officials and specialists. It is first and foremost an event that carries a567 words
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Article401 2012-07-02 2 Selldowns spur share buybacks LISTED companies, stung by market selldowns due to the eurozone debt crisis, have bought back their own shares with a vengeance in the second quarter. Total buyback value reached $904.5 million as at June 29, more than double the $450 million recorded the last401 words
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Article18 2012-07-02 2 Branchen Stars R1C-A 25/06/2012 136,12 EUR I db X-MACRO Trading Index Fund I4D 21/06/2012 94,68 GBP18 words
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687 2012-07-02 2 ROB CURRAN - WALL STREET INSIGHT By ROB CURRAN EUROPEAN regulators have finally brought the financial crisis under control, and data this week will show whether they did so in time to save the global economic recovery. The Dow Jones Industrial Average completed its687 words
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641 2012-07-02 4 TEH SHI NING - City Harvest pastor delivers same message to church-goers at two services over the weekend By TEH SHI NING [SINGAPORE] In two church services over the weekend, City Harvest Church (CHC) founder Kong Hee delivered the same message to church-goers that he upholds his integrity641 words
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Article, Illustration795 2012-07-02 4 CAVINDER BULL - ICCA has allowed S’pore to showcase itself to the best arbitration practitioners By CAVINDER BULL The writer is a Senior Counsel and a director of Drew Napier [SINGAPORE] No other event has had more potential to influence Singapore’s development as a legal services hub than the795 words
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Advertisement45 2012-07-02 2 GROUP TOUR SPECIALIST Retreats Meetings Team Building Incentive Tours Taylormade Golf Trips East West Malaysia Hong Kong Indonesia Thailand Vietnam Cambodia Macau China We are looking forward to get a challenging assignment from you Luxury Tours Travel Pte Ltd mice@luxury.com.sg S www.luxury.com.sg Tel: 6309 085045 words
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Advertisement63 2012-07-02 3 here is a list OF ALL THE WORLD’S BANKS STRONGER THAN US: RANKED WORLD’S STRONGEST BANK BY BLOOMBERG MARKETS. AGAIN. An honour we humbly accept for the second year in a row. We'd like to thank all of our customers and all of our staff. We couldn't have done it63 words
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Advertisement849 2012-07-02 4 THE POWER OF EFFECTIVE BRANDING THINKING STRATEGIES Who should attend: Senior Management and Professionals in Brand Management, Public Relations Advertising, Sales Marketing, Business Development, Entrepreneurs and individuals looking to market and brand their identity FULL-DAY WORKSHOPS Critical Thinking Sun Tzu’s Art of War Style FULL-DAY SEMINAR Building Your Brand Identity849 words
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Advertisement170 2012-07-02 6 Looking for the ideal job? Visit the inaugural STJobs Career Development Fair Sat Sun, 28 29 July 2012 10am to 8pm Hall 403 404, Suntec Singapore J>4 STJOBS SJ* CAREER W DEVEL0PMENT2012 £-Cry\<L 3 Discover Myself X Make-Me-Over v Tarot card reading Psychometric assessment resume clinic Make-up hairstyling Photo shoot170 words
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COMPANY NEWS
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Article, Illustration806 2012-07-02 6 KENNETH LIM - Need to figure out how to identify good derivatives from bad: economist By KENNETH LIM CURRENT rules for putting up collateral around derivatives are in need of serious overhaul because they could inadvertently create “death spirals”, economist and Nobel laureate Peter Diamond saidBLOOMBERG - 806 words
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668 2012-07-02 6 NISHA RAMCHANDANI - By NISHA RAMCHANDANI BAD times could see companies chop their travel budgets by more than was earlier predicted. A Citi report says corporate travel budgets could drop by 20 per cent to 30 per cent this year steeper than the 20 per668 words
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Article1711 2012-07-02 9 ROBERT HALILI - INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd UYING was flat for the second straight week while the selling among directors remained low based on June 25-29 filings on the Singapore Exchange. Fifteen companies recorded 32 purchases worth $13.4 million1,711 words
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Advertisement113 2012-07-02 7 2 X A > k o o k I A smart idea in one city can make any city smarter. While every one is unique, many face similar challenges. IBM experts are teaming up with citizens and civic leaders on over 2,000 projects to help make cities around the world113 words
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SINGAPORE MARKETS
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Article, Illustration705 2012-07-02 8 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent THE question everyone must be asking at the start of this week is: How long before scepticism returns to the markets? Put differently, there have been several instances in the past three years when European Union summits or meetings among705 words
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Article621 2012-07-02 8 COMMODITIES AFP [LONDON] Commodity prices mostly rose over the week thanks to strong support won on Friday after an EU summit delivered an unexpected deal aimed at further tackling the eurozone debt crisis. A surprise agreement to save the euro wrenched after an all-nightAFP - 621 words
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632 2012-07-02 8 CURRENCIES Bloomberg [BANGKOK] Asian currencies strengthened last week as European leaders agreed on measures to ease a regional debt crisis and data suggested that the US housing market is recovering from a slump. The Bloomberg-JPMor-gan Asia Dollar Index rose onBloomberg - 632 words
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Article1441 2012-07-02 8 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 2 10.00 12.00 1.42 1.20 Amtek Engg 1.67 1.60 6 0.07 7.32 0.89 0.62 ARA Asset Mgt 1.38 1.38 81,441 words
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Article65 2012-07-02 8 Jun 29 VALUE CLOSE BT OB/OS 432.00 +74.00 BT CADI -*****.00 +210.0 BT 10-day MA -*****.00 +44.00 FTSE ST Mid Cap 673.85 +6.97 FTSE ST Small Cap 445.86 +4.72 FTSE ST All Share 698.24 +7.58 FTSE ST China Top 196.29 +1.97 FTSE ST China 220.69 +2.35 FTSE65 words
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Article56 2012-07-02 8 VOLUME GSH Corp 345,318,000 Maxi-Cash 291,948,000 ChinaTaisan 288,904,000 Golden Agri 286,830,000 Genting SP 207,704,000 Noble Grp 197,176,000 PSL Hldgs 178,347,000 *TanChongInt 159,495,000 Asiasons 150,505,000 Interra 142,176,000 VALUE($) SingTel 410,206,614 DBS Grp 307,155,362 Genting SP 291,411,980 SembMar 244,928,737 UOB 226,004,490 Noble Grp 218,980,602 OCBC Bk 209,172,986 Keppel Corp56 words
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Article114 2012-07-02 8 BY CENTS CLOSE UP DBXT Nifty 10US$ 9434 304.9 2.6 DBXT iBoxxSing 5SG$ ***** 180.0 1.4 DBXT MSUSA 10US$ 3244 130.8 3.3 Jardine C&C 4631 126.0 2.8 DBXT MSJAP 10US$ 3516 125.8 2.9 JSH 3050 109.3 2.9 DBXT E50 10US$ 3255 86.4 2.1 DBXT MSTHAI 10US$ 1765 77.5 3.6114 words
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Article125 2012-07-02 8 BY CENTS CLOSE DOWN DBXT iBoxxSvEu 5US$ ***** -287.1 -1.0 JMH 4840 -176.6 -2.8 DBXT S&P Short 10US$ 3786 -90.2 -1.8 DBXT FTVietnam 10US$ 2345 -47.0 -1.6 DBXT AUD Bonds 5AU$ ***** -46.5 -0.2 DBXT SORA 5SG$ ***** -46.3 -0.3 DBXT MSBrazil 10US$ 496 -39.4 -5.9 Lyxor Korea 10US$125 words
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Advertisement272 2012-07-02 9 The Ultimate Degree for Finance Executives EDHEC-Risk Institute PhD in Finance London Nice Singapore Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. Drawing its faculty272 words
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SINGAPORE NEWS
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Article, Illustration518 2012-07-02 10 KELLY TAY - He is first S’porean and 3rd Asian to be inducted into Lindau honorary senate By KELLY TAY in Lindau, Germany SINGAPORE has made its mark on the scientific world stage again, with President Tony Tan Keng Yam receiving top honours at the 62nd LindauMICA - 518 words
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704 2012-07-02 10 APRIL CHYE - Users will be able to check product’s authenticity quickly with a smartphone By APRIL CHYE SENNHEISER is taking matters into its own hands by rolling out a variety of measures to tackle product piracy. The 67-year-old audio specialist brand,704 words
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Article249 2012-07-02 10 COMPANY MEETING PLACE DATE TIME TA Corp E 1 Jalan Berseh #03-03 New World Centre Singapore *****7 02-Jul 10.00am Nera Telcom S Ballroom 1, Hilton Hotel 581 Orchard Road Singapore *****3 06-Jul 3.30pm GSH Corp E 11 Changi North Way Singapore *****6 06-Jul 4.00pm Marco Polo Marine E249 words
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Article910 2012-07-02 10 ASK Question: I invested in the recent Facebook IPO and have now seen the price of my shares tumble from the IPO price of US$38 to below US$32. I have since read in the media about possible disclosure of information to select persons. Was there information910 words
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330 2012-07-02 10 jessica@redas. com. WITH trouble in the eurozone and a worse than anticipated slowdown in China hitting world economies, the Real Estate Developers’ Association of Singapore (Redas) is holding a seminar that will look into the impact of these developments on Singapore’s real estate330 words
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Article612 2012-07-02 10 Payment Ex Books Pay Ann (cts) date close date date AEM Hldgs aw 0.350 01-Aug 03-Aug 17-Aug 14-May Azeus Systems bo 3.480 23-Jul 25-Jul 08-Aug 28-Jun B Sembawang ak 4.000 31-Jul 02-Aug 15-Aug 24-May B Sembawang bh 14.000 31-Jul 02-Aug 15-Aug 24-May Ban Leong ak 1.000 01-Aug 03-Aug612 words
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Article290 2012-07-02 10 Jun 29 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Arab Bank PIC Bank Julius Baer Co. Ltd(S) 5 Banco Bilbao Vizcaya Bank of China Limited 5.5 Bank of Communications 5.5 6 Bank Julius Baer Co. Ltd(S)... Bank of New290 words
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Advertisement101 2012-07-02 10 HAVE a pressing question about a corporate-law-related issue that your company is facing? Lawyers from Stamford Law will provide their expert advice and answers to your queries on a weekly basis. All you need to do is send us an e-mail with your query at btnews@sph.com.sg and include particulars such101 words
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BT-CITIBANK YOUNG INVESTORS' FORUM
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Article, Illustration1010 2012-07-02 11 MRINALINI REDDY - Today’s emerging markets are also ‘emerging’ as big businesses on a global stage. What explains their success and how serious of a threat are they to dominant multinationals in the West? By MRINALINI REDDY WHEN Brazilian cosmetics company Natura decided to expand its international footprint,REUTERS - 1,010 words
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Article, Illustration1074 2012-07-02 11 LIM WEI SHENG - SMU student visits China every year to talk to the man in the street, STARTING YOUNG reportsLIM LIM WEI SHENG AN interest in investing began with the Teletext for 24-year-old Lim Swee Tian, who started taking note of the constantly changing figures on theYEN MENG JIIN - 1,074 words
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Advertisement44 2012-07-02 11 If you’re between the ages of 17 and 30 and wish to share your investing story too, e-mail btyif@sph.com. sg with “Starting Young” in the subject heading now. Views shared by young investors in this space are their own, and not endorsed by BT.44 words
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Advertisement156 2012-07-02 11 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to156 words
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VIEWS FROM THE TOP
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Article, Illustration3369 2012-07-02 12 THIS WEEK’S TOPIC How is the weaker Sing dollar, and eurozone debt crisis in general, affecting businesses in Singapore, and is it likely to get better or worse? What should businesses here do in response, if anything? Alex Hungate Group General Manager and CEO HSBC SingaporeBLOOMBERG - 3,369 words
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Advertisement340 2012-07-02 13 2-4 July 2012 Sands Expo Convention Center Marina Bay Sands, Singapore, HALL A www.wastemetasia.sg WasteMETAsia 2012 Asia’s International Waste Management Environmental Technology Exhibition and Conference w V Join us at WasteMET Asia m Asia's Only Business Trading Platform for Solid Waste Management, Recycling Resource Recovery Solutions SHOW OPENS Available on340 words
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Advertisement165 2012-07-02 13 Lancaster University /> Management School r II >' *****a 4 A •rsitit ■I in* Application Deadline 1 August 2012 Meet the Lancaster MBA Director on 9 July 2012, 7pm Register online at www.saage.edu.sg The Lancaster Global MBA Explore the leader inside you 71 Association of MBAs EQUIS The Lancaster MBA165 words
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ECONOMY WATCH
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Article, Illustration731 2012-07-02 14 Central bank to hold monthly policy meeting in Frankfurt on Thursday AFP [FRANKFURT] Europe, with last week’s European Union (EU) summit, appears to have warded off disaster, at least for now, but the markets are now looking to the EuropeanAFP; REUTERS - 731 words
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Article, Illustration638 2012-07-02 14 Reuters [LONDON] The British government has ordered an independent review into the workings of key lending rates between banks, after Barclays was found guilty of rigging them, and summoned the bank’s boss to answer questions about the scandal. US andReuters; REUTERS - 638 words
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Article, Illustration780 2012-07-02 14 EC, IMF, ECB staff arrive today to assess situation AFP [NICOSIA] By a cruel twist of fate, Cyprus takes the chair as EU president tasked with guiding Europe out of financial chaos just as it becomes the fifth eurozone state toAFP - 780 words
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711 2012-07-02 14 Bloomberg [MELBOURNE] Australia is charging its largest polluters for carbon emissions and taxing profits of iron ore and coal producers starting yesterday in the biggest change since 2000 in how the government collects and spends money. The country will assess almostBloomberg - 711 words
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Advertisement392 2012-07-02 14 CHEW INVESTMENTS PRIVATE LIMITED (Company Registration No: *****0191Z) (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of Chew Investments Private Limited held on 26 June 2012, the following resolutions were duly passed:Special Resolutions 1. That the Company be wound up voluntarily. 2. That the Liquidator of the Company be392 words
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Advertisement216 2012-07-02 15 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,216 words
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MALAYSIA/INDONESIA
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Article, Illustration627 2012-07-02 16 S JAYASANKARAN - Canada shale gas deal shows desire to diversify resources MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent LAST week, it was announced that state oil company Petroliam Nasional, or Petronas, had agreed to buy Canada’s Progress Energy Resources Corp for RM14.93 billion (S$6 billion) to bolster its natural627 words
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797 2012-07-02 16 Five-year CDSs on Indonesian debt drop 40 bps in June Bloomberg [KUALA LUMPUR] The yield premium for Indonesia’s dollar-denominated sukuk (Islamic bonds) over Malaysia’s dropped by the most in a year this month as falling oil prices eased the burden on the budget and made roomBloomberg - 797 words
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Article, Illustration416 2012-07-02 16 Reuters [BOGOR, Indonesia] Indonesian mining tycoon Aburizal Bakrie has secured the Golkar party’s nomination as its candidate in 2014 elections, taking a step towards the presidency of South-east Asia’s largest economy. Mr Bakrie, 65, will be a leading candidate in what is expectedReuters; REUTERS - 416 words
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Article1663 2012-07-02 16 VOL Jun 29 RM +/-(‘000) VOL Advance Synerg 0.17 unch 119 Adventa Bhd 1.46 0.01 14 Ae Multi Hldgs 0.21 unch 215 Affin Holdings 3.33 0.04 434 Ahmad Zaki Res 0.73 0.01 380 Abric Bhd Airasia Bhd 3.57 -0.01 6800 Alliance Finan 4.16 0.05 2642 Aluminium Co 0.811,663 words
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Advertisement23 2012-07-02 16 ft*-®#. LIANHE ZAOBAO En-bloc market in the doldrums. with onr 12 deals inH1 Afc LSU. To subscribe, call 6388-3838 or go to sphsubscription.com.sg23 words
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GREATER CHINA/INDIA
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Article, Illustration997 2012-07-02 17 New Chief Executive faces challenges from human rights to democracy push Reuters [HONG KONG] Chinese President Hu Jintao yesterday swore in Hong Kong’s new leader who will have to confront challenges ranging from human rights to a push for democracy inReuters; AP - 997 words
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581 2012-07-02 17 AFP [HONG KONG] Hong Kong’s new leader Leung Chun-ying takes over the city of seven million people amid falling popularity ratings, a series of setbacks and protests over his leadership before he even started his term. Born in 1954, Mr Leung the 57-year-oldAFP - 581 words
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499 2012-07-02 17 AFP [SHANGHAI] China’s manufacturing activity fell to a seven-month low in June, official figures showed yesterday, despite government efforts to arrest a slowdown in the world’s second largest economy. The official purchasing managers’ index (PMI) slipped to 50.2 in June fromAFP - 499 words
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Article, Illustration680 2012-07-02 17 AFP [NEW DELHI] Investors are hoping India’s Prime Minister Manmohan Singh, whose radical reforms transformed the country’s economy two decades ago, can work his magic once again after he took charge of the finance ministry. On Friday investors drove the benchmark Sensex shareAFP - 680 words
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592 2012-07-02 17 AFP [QINGDAO, Shandong] Chinese appliance and electronics giant Haier is aiming to expand into Europe with higher-end products, helping to upgrade China’s reputation for churning out mostly cheap, low-quality goods. However, experts say that even if Haier succeeds, the country stillAFP - 592 words
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WORLD
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Article, Illustration658 2012-07-02 18 Meanwhile, storms kill 12 people and leave 3m customers without power Reuters [WASHINGTON] A heat wave baking the eastern United States in record temperatures is set to continue after deadly storms killed at least 12 people, downed power lines from Indiana to MarylandReuters; AFP - 658 words
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738 2012-07-02 18 AFP [WASHINGTON] After a dire stock market debut, Facebook has clawed back a large chunk of its losses as investors look past the flubbed initial public offering and gradually warm to the leading social network. Facebook shares were offered in May at US$38,AFP - 738 words
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400 2012-07-02 18 Minister: govt stays committed to reforms, austerity Reuters [NAVACERRADA, Spain] Spain’s economy shrank further in the second quarter but looks set to stabilise over the rest of the year while the government continues to push structural reforms and budget austerity, Economy Minister Luis de GuindosReuters - 400 words
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490 2012-07-02 18 Reuters [NEW YORK] They might be tooting their own horn, but the New York Stock Exchange may have a point. A programming error on a massive trade by a bro-ker-dealer on Friday nearly caused a “disastrous” set of events at market close thatReuters - 490 words
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868 2012-07-02 19 Markets in for wild ride if Congress fails to act to avoid US$4 trillion tax hikes, spending cuts Reuters [WASHINGTON] Members of Congress from both parties are increasingly mulling the unthinkable: going home in December without acting to avoid the US$4 trillion inReuters - 868 words
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626 2012-07-02 19 Justices allow the term ‘tax’ to embrace ‘penalty’ NYT [NEW YORK] There are lots of taxes that people pay only if they buy something sales taxes, taxes on cigarettes and taxes on airline tickets among them. But by calling the penalty for notNYT - 626 words
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Article, Illustration585 2012-07-02 19 [BANGKOK] The Asian Development Bank and the World Bank are inching closer to a deal that would lead to a full-fledged resumption of aid to Myanmar, possibly within a year, a senior ADB official said. But before aid can resume, MyanmarAFP - 585 words
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Article, Illustration528 2012-07-02 19 AFP [SYDNEY] Australian retailer Peter Birtles has a shopper he loves to see walk into his store he calls him “Barry” and he’s a mine worker who enjoys his high-performance car, fishing and going to the gym. “We’ve got the products that he’sAFP - 528 words
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Article, Illustration1024 2012-07-02 20 It is shifting assets of its US$100b sovereign wealth fund to mining firms Bloomberg [LONDON] Qatar’s unexpected role as kingmaker in the biggest proposed merger of the year is an outgrowth of its new strategy to shift assets of its US$100 billionBloomberg; AP - 1,024 words
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Article, Illustration767 2012-07-02 20 Ahmad al-Sayed is known as an aggressive negotiator Reuters [DUBAI] Ahmad al-Sayed, the Qatari investment manager holding the fate of Glencore’s US$26 billion takeover of Xstrata in his hands, is known as an aggressive negotiator who relishes the big deal. The lawyer wasReuters; REUTERS - 767 words
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598 2012-07-02 20 Defenders say the drilling is too deep to cause problems AP [COLUMBUS, Ohio] Cemeteries are joining parks, playgrounds, churches and backyards as targets of the US shale drilling boom, and that’s an uncomfortable idea for some. Opponents say cemeteries shouldn’tAP - 598 words
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547 2012-07-02 20 June volume up 1.3%; trade surplus at US$4.96 billion Bloomberg [SEOUL] South Korea’s exports rose in June, snapping three months of declines, after a weaker won fuelled overseas sales even as China’s growth slowed and Europe’s debt crisis deepened. OverseasBloomberg - 547 words
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Article, Illustration1170 2012-07-02 21 Investors ask if he can revive firm after 4 years of losses and plunging share price AP [TOKYO] The record 9,000 shareholders who packed Sony’s annual meeting was no cause for celebration. After four years of losses and a halving ofAP; AP, REUTERS - 1,170 words
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1107 2012-07-02 21 Lawyer argues they are people with extraordinary ability Reuters [SAN FRANCISCO] Shera Bechard, the Canadi-an-born former girlfriend of Playboy Enterprises founder Hugh Hefner, would not be an obvious candidate for the special visas that the US government reserves for “individuals with extraordinaryReuters - 1,107 words
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739 2012-07-02 21 US$31 a share is 10% premium to Amylin’s last traded price Bloomberg [NEW YORK] Bristol-Myers Squibb Co, which failed to get US approval for a new diabetes treatment in January, will pay US$5.3 billion for Amylin Pharmaceuticals Inc, the maker of two drugs onBloomberg - 739 words
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Advertisement376 2012-07-02 18 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices NIKKO AM SHENTON GLOBAL ADVANTAGE FUND (THE “FUND”) NOTICE OF EXTRAORDINARY GENERAL MEETING OF HOLDERS NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the holders of the units in the Fund will be held at the office of Nikko Asset376 words
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Advertisement195 2012-07-02 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TMI SECURITIES PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co Reg. No. *****0220M) NOTICE IS HEREBY GIVEN that the Final General Meeting of the abovenamed Company will be held at 47 Hill Street, #05-01 Singapore Chinese Chamber195 words
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Advertisement188 2012-07-02 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF AIRASIA PTE. LTD. Company Registration No. *****9434R (In Members’ Voluntary Winding-Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap.50, that a Final Meeting of the Members of188 words
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AVIATION/SHIPPING
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Article, Illustration397 2012-07-02 22 More fuel-efficient aircraft will pare operating costs by over 20%: airline Bloomberg [NEW YORK] FedEx Corp agreed to buy 19 Boeing 767 cargo jets, the first freighters the planemaker has sold this year as shippers curbed purchases amid a slowing global economy. TheBloomberg; AFP - 397 words
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346 2012-07-02 22 Bloomberg [LONDON] The Baltic Dry Index, a measure of costs to transport commodities by sea, rose for a second day on Friday as hire rates for iron ore-carrying Capesize ships extended a rally from this year’s plunge. The measure added 0.7Bloomberg - 346 words
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420 2012-07-02 22 Pilots union vote delays timetable to win labour savings Bloomberg [NEW YORK] American Airlines parent AMR Corp will seek a three-month extension to its exclusive right to file bankruptcy reorganisation plan as a pilots union vote pushes back the timetable for winningBloomberg - 420 words
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362 2012-07-02 22 Reuters [BEIJING] China has begun com-bat-ready patrols in the waters around a disputed group of islands in the South China Sea, the Defence Ministry said on Thursday, the latest escalation in tension over the potentially resource-rich area. Asked about what China would doReuters - 362 words
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408 2012-07-02 22 Reuters [ATLANTA] European planemaker Airbus is poised to invest US$600 million in a new US production facility in Mobile, Alabama, for its A320 passenger jet that is expected to produce four planes a month by 2017, according to two peo- ple familiarReuters - 408 words
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Article, Illustration720 2012-07-02 22 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 qualifications needed by the companies gearing upAFP - 720 words
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3484 2012-07-02 27 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN3,484 words
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Page 22 Advertisements
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Advertisement121 2012-07-02 22 ASIA-WEST AFRICA TRADE AGREEMENT (AWATA) Notice for General Rate Increase (GRI) In order to ensure that the Member Lines are able to continue to provide the service necessary to meet the needs of their customers, the Member Lines of the Asia West Africa Trade Agreement (AWATA) have decided to implement121 words
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Page 22 Miscellaneous
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Miscellaneous322 2012-07-02 22 CRYPTIC CROSSWORD Across 1 A bit of life needed in new nationalist art exhibit (12) 9 Misguided, and not wanting to smile (3-4) 10 Economic aid rackets having backing of the heart (7) 11 Flyer’s dressed as bride! (7) 12 Smart support worker after start of engagement (7) 13 Born322 words
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DINING OUT
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Article, Illustration901 2012-07-02 23 Jaime Ee - By Jaime Ee RE-OPENING Absinthe 72 Boat Quay Singapore *****0 Tel: 6222-9068 SOMETHING strange is happening in Boat Quay. From one end to the other, no one shoved a menu in my face you know, with greasy laminated pictures showing thePHOTOS BY ARTHUR LEE - 901 words
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Page 23 Advertisements
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Advertisement134 2012-07-02 23 www.o my.sg social' Media Bay. SINGAPORE 2012 (Mnsgefll Lj bbseD Tell us how social media ITOCK your world digital cameras! rJ Simply tag your Instagram photo with #soclalmediarockmyworld An event of Social edla testa ■o t 91.3F ■Os Q DOWNLOAD THE NEW 91.3FM ANDROID APP NOW! TGDAT'S BEST MUSIC Ij134 words
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SINGAPORE STOCKS
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Article3189 2012-07-02 24 Week ended: Jun 29 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div GrYld 123 92.5 AIMSAMPIReit 120 unch 1047 121 120 120 120.5 6.9 11.5 535.2 M3,189 words
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Article239 2012-07-02 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller C'vr P/E Smil 34239 words
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Article118 2012-07-02 25 Stock name Close Change CapMallsAsia 1.565 +0.025 CapitaLand 2.700 +0.060 CapitaMall 1.910 +0.015 CityDev 11.200 +0.380 ComfortDelGro 1.545 +0.015 DBS Grp 13.870 +0.030 F&N 7.000 +0.110 GLP 2.090 +0.050 Genting SP 1.410 +0.025 Golden Agri 0.670 +0.010 Stock name Close Change HK Land 5.710 +0.150 JMH118 words
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Article2249 2012-07-02 25 Transaction date: Jun 29 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.55 unch 90 Aeon Stores 23.80 0.50 118 Angang Steel 4.22 0.07 3608 Anhui Conch 20.95 0.35 9526 Anhuiexpresswa 3.42 0.02 682 Asia Satellite 19.98 0.08 3 Asm Pacific 98.45 0.80 500 Bank Of E Asia 27.702,249 words
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Article220 2012-07-02 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.5 28.5 AVJennings A29.5 -0.5 10 29.5 29.5 29 37 3.6 11.9 2.4 76.8 46 25.5 Genting HK US$ US32.5 -0.5 ***** 33 30.5 32 32.5 2140220 words
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Article186 2012-07-02 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 2 4 0 0 0 11 2 4 Manufacturing 78 61 47 13 12 8 91 73 55 Commerce 37 26 11 4 7 5 41 33 16 Tpt/Stor/Comms 30 9 4186 words
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Article1118 2012-07-02 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 113 ABF SG Bond ETF 118 -1 49 120 118 118.5 119.7 538.6 122.4 122.2 CIMB APAC Div 100S$D 122.2 -0.2 1 122.2 122.2 124.81,118 words
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Article123 2012-07-02 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 108,600 108,600 336,400 336,400 Manufacturing 1,371,920 279,091 1,651,011 1,001,056 13,685 1,014,741 Commerce 1,142,115 38,465 1,180,580 601,448 2,963 604,411 Tpt/Stor/Comms 434,235 93,231 527,466 756,163 23,044 779,207 Finance 147,270 291,948 439,218 797,064 133,681 930,745 Construction 462,637 21,508123 words
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Page 25 Advertisements
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Advertisement26 2012-07-02 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. The Business Times26 words
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FINANCE & COMMODITIES
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Article632 2012-07-02 26 Jun 29 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8811.46 9044.04 8803.33 Sep12 8855.00 9070.00 8775.00 8975.00 ***** *****7 Dec12 8750.00 8995.00 8750.00 8915.00 1 6562 MSCI TAIWAN INDEX FUTURES SPOT 255.19 259.98 255.13 Jul12 248.60 253.40 245.20 253.40 ***** *****2 Aug12 246.30 249.60632 words
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Article, Illustration134 2012-07-02 26 As on 29 June 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT AUG2012 533.45 518.20 529.85 822 INDIA GOLD (E-GOLD) FUT OCT2012 526.80 526.70 535.30 31 CURRENCY EUR-USD FUT SEP2012 1.2700 1.2476 1.2668 1682 BASE METAL COPPER FUT SEP2012134 words
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Article107 2012-07-02 26 Jun 29 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 12 1512.75 1466.00 1517.75 1466.00 Aug 12 1481.75 1446.25 1486.50 1441.00 Sep 12 1450.25 1417.50 1455.00 1417.00 Nov 12 1427.75 1403.50 1436.00 1401.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 12 52.21107 words
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Article70 2012-07-02 26 CRUDE OIL PRODUCTS Jun 28 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 92.35 -1.02 WTI (Near Mth) 78.13 -2.18 Dubai (1-Mth F) 90.85 0.40 Tapis blend 96.09 0.63 Minas 97.59 0.63 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 80.61 1.55 Jet Kerosene 108.63 0.52 US$/barrel OpecOil Basket70 words
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Article21 2012-07-02 26 Jun 29 S$ Bid Offer 1-month 1.2703 1.2713 2-months 1.2702 1.2713 3-months 1.2700 1.2711 6-months 1.2689 1.2700 Source:OCBC21 words
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Article64 2012-07-02 26 Jun 29 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1875.75 1808.25 3 months 1911.00 1845.00 Copper, Grade A(US$/tonne) Cash 7691.75 7391.75 3 months 7685.00 7385.00 Lead(US$/tonne) Cash 1847.75 1762.75 3 months 1861.00 1777.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.50 *****.00 3 months *****.0064 words
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373 2012-07-02 26 In local curr In S$ In US$ dy yr dy yr dy yr Jun 29 Index Change Change Change Change Change Change World Preliminary 868.7 2.1 4.7 1.6 1.8 2.7 4.2 EAFE Preliminary 695.9 2.4 2.0 2.5 -1.6 3.6 0.8 Europe Preliminary 1034.1 2.9 0.7373 words
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Article80 2012-07-02 26 Jun 29 COCOA (£/tonne) Close Prev High/Low Jul 12 1614 1587 1616/1578 Sep 12 1574 1551 1575/1543 Dec 12 1553 1528 1555/1516 Mar 13 1526 1507 1525/1491 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2103 2054 2110/2057 Sep 12 2134 2089 2148/2104 Nov 12 2134 2087 2146/2099 Jan 13 210880 words
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1366 2012-07-02 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 369 8.00 23 Conv Ratio Baker Technology Ltd W*****6 0.6 1 32 12 48.33 5 Price Best World Intl Ltd W*****5 0.6 1 30 751,366 words
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Article470 2012-07-02 26 Jun 29 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.043 6.461 0.809 7.884 57.211 95.445 0.809 11.664 3.233 1.275 96.019 42.854 1.292 8.451 0.972 30.361 32.303 0.651 1.016 Canada 0.959 6.194470 words
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Article54 2012-07-02 26 Jun 29 (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$) 3 mths 0.***** 0.***** 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1 yr 0.*****54 words
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Article137 2012-07-02 26 Jun 29 GOLD(US$/oz) Jun 29 Jun 28 Hong Kong 1577.00 1580.00 Jun 28 Jun 28 Jun 29 London 1555.46 1596.93 1556.23 1597.79 Source: Thomson Reuters CAST BAR Jun 29 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 154 64 5gm 437 320 10gm137 words
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Article85 2012-07-02 26 Jun 29 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 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-17 109.18 1-Year 10-Year NY*****X 3.12585 words
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Article57 2012-07-02 26 Jun 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 12 2993.0 2983.00 3009.0 2983.0 233 2544 Aug 12 2999.0 2991.00 3022.0 2985.0 1728 ***** Sep 12 3010.0 2998.00 3030.0 2991.0 ***** ***** Oct 12 3012.0 3000.0057 words
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Article154 2012-07-02 26 Jun 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2911 1.2923 1.0164 1.0165 Canadian dollar 1.2374 1.2390 0.9746 0.9741 Euro 1.5954 1.5968 1.2559 1.2560 NZ dollar 1.0127 1.0142 0.7972 0.7978 Sterling pound 1.9838 1.9860 1.5617 1.5622154 words
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Article121 2012-07-02 26 As at 9am Jun 29 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.314 1.252 Can dollar 1.267 1.207 Euro 1.630 1.553 Sterling pound 2.024 1.947 NZ dollar 1.035 0.986 US dollar 1.298 1.249 Local dollars to 100 units of foreign121 words
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Article154 2012-07-02 26 Jun 29 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.00 0.80 12154 words
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Page 27 Advertisements
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Advertisement37 2012-07-02 27 Experienced ship maintenance services wanted. in°t“ Shipping Times? I FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping Times? The Business Times Shipping Times37 words
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Page 28 Advertisements
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Advertisement68 2012-07-02 28 TO ADVERTISE IN The Business Times Shipping Times CALL JOE WONG Announce Your Corporate Development Come publicise your Project Completion, Ship Christenings Delivery of Newbuilds, Vessel Conversion Refurbishment, Award Wins Certifications, Corporate Image, Corporate Developments and Company Anniversaries. There’s no better way to steer your business into new frontiers than68 words
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Page 29 Advertisements
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Advertisement114 2012-07-02 29 THE SOUND VISION SPECIALIST AV ONE 2012 COLLECTIONS II m i Zikmu designed by Philippe Starck Now: $2,688 Black,White, Red Available Custom AV Room Feature Wall Design AV ONE TOTAL AUDIO VISUALISM" Sony, Infocus, Panasonic Full HD 3D Projector Made in Japan. From $2,699 $35,000 X PMC, Lindemann Hifi/Cinema System114 words
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BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
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Article, Illustration865 2012-07-02 29 VICTORIA HO - Vidyo’s algorithm does away with costly video-conferencing hardware, reportsVICTORIA VICTORIA HO ALL the companies which have bought expensive video-con-ferencing systems are getting ripped off. At least that’s what Vidyo would have you believe. Representatives from the New Jersey-headquartered firm were in town twoVIDYO - 865 words
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361 2012-07-02 29 VICTORIA HO - Move comes just two years after it bought the service By VICTORIA HO [SINGAPORE] A mere two years after it purchased Indonesian geolocation service, Koprol, Yahoo is shutting it down next month, Koprol announced in a blog post. This comes as361 words
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Article, Illustration349 2012-07-02 29 TIMOTHY LOH - By TIMOTHY LOH [SINGAPORE] First came the release of the latest MacBook Air in early June, at whose introduction Apple CEO Tim Cook declared all other thin and light nothing more than copycats. “Everyone’s trying to copy (the MacBook Air), but they’re finding it’s not soINTEL - 349 words
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959 2012-07-02 29 CLEMENT TEO - It will allow govt agencies to procure cloud services easily By CLEMENT TEO [SINGAPORE] The Infocomm Development Authority of Singapore (IDA) recently announced that SingTel will build the government’s ambitious G-Cloud connecting various public agencies. The G-Cloud will be Singapore’s next-generation whole-of-government infrastructure. It959 words
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Article, Illustration833 2012-07-02 30 reportsAMIT ROY CHOUDHURY - Symantec survey shows 4 out of 5 Singaporean businesses lost critical information last year, reportsAMIT ROY CHOUDHURY reportsAMIT reportsAMIT ROY CHOUDHURY FOUR out of five Singaporean businesses lost critical information last year due to various reasons, says a new surveySYMANTEC - 833 words
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821 2012-07-02 30 CLEMENT TEO - Partner strategy is still work in progress, it says By CLEMENT TEO [SINGAPORE] The past year has been one of discovery for Jeff Hwong, Huawei’s regional sales director for Southern Pacific Enterprise Business. Trying to interest larger channel players to sign up to821 words
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what’s up
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30 2012-07-02 30 LOCAL start-up Dropmysite behind back-up services Dropmysite and Dropmyemail has acquired US-based back-up cloud provider OrbitFiles. This adds 235,000 users to Dropmysite’s existing base of 676,000.30 words
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Article33 2012-07-02 30 LOCAL ticketing agent Sistic has launched a free mobile app for Android phones and iPhones. The company plans to allow booking and payment options via the app soon, issuing e-tickets.33 words
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Article49 2012-07-02 30 The Institute of Systems Science of the National University of Singapore will hold a seminar on business analytics on July 6. It aims to show marketers and IT folks how business analytics is evolving. The fee is $53.50 and more information can be found on http://iss.nus.edu.sg.49 words
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Article43 2012-07-02 30 VICTORIA HO - Compiled by VICTORIA HO HEWLETT-PACKARD has announced its new HP Z220 and EliteBook Mobile workstations. The quadcore configuration of the tower computer Z220 starts at $1,299, while the EliteBook’s pricing varies based on specifications. Both are available for order now.43 words
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1068 2012-07-02 30 SHRINIVAS KOWLIGI - Data openness, practised by many societies, can give rise to smarter communities <you say> By SHRINIVAS KOWLIGI The writer is IBM’s Asean Leader for Smarter Cities, Government Healthcare THIS week, government leaders and industry experts from around the world will gather in Singapore for1,068 words
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