The Business Times, 5 July 2012

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Microfilm: NL32073
Total Pages: 32
1 32 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|5l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Thursday, July 5, 2012
    25 words
  • Article, Illustration
    Lock icon Alldressedupbut facing claims in court
    751 1  -  Fashionista accused of shifting assets from failing firm By GRACE LEONG [SINGAPORE] Local fashionista Tina Tan-Leo is facing breach of fiduciary duty claims filed in the High Court by liquidators of Living The Link, a luxury fashion and lifestyle boutique that went bust in 2008.
    751 words
  • Article, Illustration
    Lock icon Parkway returns to market as a bigger, heftier animal
    957 1  -  In its new guise as IHH, it has bases in S’pore, M’sia and Turkey and its IPO could make a huge splash By NISHA RAMCHANDANI [SINGAPORE] It could very well end up being the year’s hottest initial public offering (IPO). Nearly
    ARTHUR LEE  -  957 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      108 1 GST INDEX 2,948.77 (+3.44) GST INDEX FUTURES 2,947 (+3) HSIMSCI 339.32 (-0.13) HSIMSCI FUTURES 338.70 (-0.60) US$ S$ US$ (S$ per US$) 1.265 (US$/S$ per 1.565 1.979 EURO (US$/S$/E) 1.258 1.591 Foreign currency per US$ S$ YEN 79.80 63.10 RM 3.156 2.496 HK$ 7.754 6.132 BAHT 31.50 24.91 RUPIAH
      108 words
    • Article
      Lock icon PRIME RATES
      17 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.497 TAIWAN 5.036 JAPAN 1,475 Source: Bloomberg
      17 words
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  • TOP STORIES
    • Article
      Lock icon SMRT told to be mindful of its core business
      751 2  -  By JOYCE HOOI [SINGAPORE] The committee of inquiry (COI) pointedly noted in its series of recommendations yesterday that SMRT needed to focus on its core business of train operations. This recommendation featured in a list of 21 “unanimous” engineeringrelated ones made
      751 words
    • Article, Illustration
      Lock icon Train disruption inquiry doesn’t pull any punches
      963 2  -  COI report faults SMRT’s inadequate maintenance for the debacle By SAMUEL EE [SINGAPORE] The massive MRT service disruptions on Dec 15 and 17 last year could have been avoided if adequate maintenance measures and checks were carried out. And while SMRT’s response focused
      FILE PHOTO  -  963 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      426 2 Parkway returns as a bigger animal NEARLY two years after it was delisted, Parkway is coming back to the Singapore Exchange (SGX) under a different guise this time bigger and better as part of consolidated entity IHH Healthcare which counts Singapore, Malaysia as well as Turkey as its
      426 words
    • Article, Illustration
      Lock icon Diamond says sorry for ‘reprehensible’ behaviour
      611 2 Bloomberg [LONDON] Robert Diamond, who quit on Tuesday as chief executive officer of Barclays plc, apologised for the “reprehensible” behaviour at the bank that led to record fines for rigging interest rates. “Clearly there were mistakes,” Mr Diamond, 60, said in testimony before Parliament’s
      Bloomberg; AP  -  611 words
    • Article
      Lock icon Barclays doing fine here, with or without a Diamond
      443 2  -  By SIOW LI SEN [SINGAPORE] When Bob Diamond came to Singapore in 2004 to open Barclays’ back office at The Atrium, the bank then employed about 500 people, with 150 in investment banking. Fast-forward to Tuesday, when the group CEO was
      443 words
    • Article, Illustration
      Lock icon Man U picks NYSE for US$100m IPO
      702 4  -  Glazer family will effectively retain control in dual-class share structure By LEE U-WEN [SINGAPORE] What began as a planned listing in Singapore that looked to raise as much as US$1 billion has now been reduced to a fraction of that halfway across the
      AFP FILE PHOTO  -  702 words
    • Article
      Lock icon NOL completes revamp, confirms laying off a few hundred
      369 4  -  By LYNN KAN [SINGAPORE] Neptune Orient Lines has completed its organisational restructuring exercise, which it announced in May along with Q1 losses of US$254 million. Responding to queries by The Business Times yesterday, an NOL spokesman confirmed that the company had
      369 words
    • Article
      Lock icon Sibor system is robust, says bank association
      433 4  -  Rigging of local benchmark rate ‘highly unlikely’ By EMILYN YAP [SINGAPORE] The Association of Banks in Singapore (ABS) has strengthened governance around the Sibor and stands by the rate’s credibility, even as the Li-bor-fixing scandal continues to unfold abroad. “We have tightened as
      433 words
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      48 words
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      243 words
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      71 words
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      856 6 THE POWER OF EFFECTIVE BRANDING, SELLING 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 Tuesday, 24 July,
      856 words
  • COMPANY NEWS
    • Article, Illustration
      Lock icon Oei Hong Leong sells entire Intraco stake
      658 6  -  Tycoon decides to discard shares after failing to get controlling interest By MICHELLE QUAH BUSINESSMAN Oei Hong Leong has let go of his 21 per cent stake in Intraco just a month after acquiring it, but shares in the trading company continue to
      FILE PHOTO  -  658 words
    • Article
      Lock icon If Man U was red-carded by SGX, so should F1
      680 6  -  HOCK LOCK SIEW By R SIVANITHY TO SOME, it might look like the Singapore Exchange (SGX) has been dealt a blow by the decision of English football club Manchester United to switch its initial public offering (IPO) from SGX to
      680 words
    • Article, Illustration
      Lock icon Global airline stock index up 1 % in June
      576 9  - Global airline stock index up 1 in June But it still lags behind other industries despite drop in fuel price By VEN SREENIVASAN [SINGAPORE] Global airline share prices held ground last month, but underperformed other industries despite a sharp fall in fuel price. Bloomberg Worldwide Airlines Index edged up one
      REUTERS  -  576 words
    • Article
      Lock icon Croesus plans $800m trust listing in S’pore
      292 9 Fund plans to buy 9 shopping malls in Tokyo and Osaka Bloomberg [SINGAPORE] Croesus Group plans to list a trust in Singapore to raise about $800 million for buying retail properties in Japan, said three people with knowledge of the matter. The Tokyo-based
      Bloomberg  -  292 words
    • Article
      Lock icon ARA shareholders pare stakes
      157 9 Reuters [SINGAPORE] Property fund management firm ARA Asset Management said yesterday that its two largest shareholders, CEO John Lim and Hong Kong billionaire Li Ka-shing’s Cheung Kong Holdings, have cut their stakes in the Singapore-listed firm. JL Investment Group, a firm controlled by Mr Lim, now
      Reuters  -  157 words
    • Article, Illustration
      Lock icon Securities volumes on SGX down in June
      415 10  -  Non-securities business continues to see a growth in volumes By KENNETH LIM SECURITIES activity on the Singapore Exchange fell in June, but the market operator’s budding non-securi-ties business continued to see a growth in volumes. Securities, which accounted for almost three-quarters of SGX’s
      415 words
    • Article, Illustration
      Lock icon Echo market cap soars in likely Sydney casino bidding war
      807 10 Malaysia’s Genting and Australia’s Crown eyeing VIPs Bloomberg [SYDNEY] A potential bidding war between a Malaysian gaming magnate and an Australian billionaire is turning Echo Entertainment Group Ltd into the most expensive casino target since the financial crisis. Companies linked
      Bloomberg; BLOOMBERG  -  807 words
    • COMPANY BRIEFS
      • Article
        Lock icon Infinio auditor issues qualified opinion
        97 10 INFINIO Group’s independent auditors issued a qualified opinion on its financial statements for the year ended March 31, 2012. The auditors drew attention to Infinio’s discontinued operations, comprising Broadband Network Systems and its subsidiaries, which were under liquidation. In the financial statements, the total liabilities
        97 words
      • Article
        Lock icon Yangzijiang gets 720m yuan for relocation
        48 10 YANGZIJIANG Shipbuilding (Holdings) Ltd said it will receive a compensation of 720 million yuan (S$145 million) from the municipal government of Jiangyin city. This arose from an agreement for the company to relocate the yard of its wholly-owned subsidiary Jiangsu Yangzijiang Shipbuilding.
        48 words
      • Article
        Lock icon Creditor protection extended for BLT units
        182 10 PT BERLIAN Laju Tanker (BLT) said that the High Court has once again extended orders protecting the firm’s subsidiaries against action from their creditors for a period of three months. This extension was granted on Monday, on top of an extension that was granted
        182 words
      • Article
        Lock icon Spindex unit buys land and factory in M’sia
        54 10 SPINDEX Industries Limited’s subsidiary, Synturn (M) Sdn Bhd, has agreed to buy a piece of land and a factory in Malaysia for RM9.5 million (S$3.8 million) from Fudak Sdn Bhd. This is part of its plan to expand its manufacturing activities in
        54 words
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      342 7 ONE TOWER BRIDGE LONDON ss ss oa A■ III I •flfl H At ra II HI II IB a FP Vii ii D3iDB DE n ri j' Ena p-- o nr T tr: III :i«fhrr 1 s L p-ir* v. JMJ I'1 1 1 -mi.a 3) h -4i Mb N
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI manages 6th straight daily gain
      576 8  -  Index retreats from day’s high on HK reversal, weak Europe opening as doubts emerge over Europe’s debt efforts STOCKS R SIVANITHY Senior Correspondent A REVERSAL in Hong Kong and a weak opening for Europe yesterday dragged the Straits Times Index (STI) off its intraday
      Source: Bloomberg  -  576 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 8 3 0 0 0 5 8 3 Manufacturing 40 47 47 6 3 12 46 50 59 Commerce 23 25 10 3 4 3 26 29 13 Tpt/Stor/Comms 17 15 7
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 40,961 40,961 83,876 83,876 Manufacturing 269,569 27,100 296,669 187,938 2,648 190,586 Commerce 270,987 21,890 292,877 117,243 4,052 121,295 Tpt/Stor/Comms 88,098 9,575 97,673 155,203 2,529 157,733 Finance 62,656 4,563 67,219 194,462 2,115 196,578 Construction 110,660 1,293
      123 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      111 8 Stock name Close Change Stock name Close Change CapMallsAsia 1.590 -0.015 CapitaLand 2.820 +0.010 CapitaMall 1.935 +0.015 CityDev 11.200 -0.100 ComfortDelGro 1.560 DBS Grp 14.100 -0.050 F&N 7.160 +0.070 GLP 2.150 Genting SP 1.395 +0.005 Golden Agri 0.705 -0.015 HK Land 5.970 +0.120 JMH 50.600 -0.150
      111 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 8 Jul 4 VALUE CLOSE BT OB/OS 425.00 -59.00 BT CADI -*****.00 +14.00 BT 10-day MA -*****.00 +43.00 FTSE ST Mid Cap 685.62 -0.86 FTSE ST Small Cap 453.98 -0.08 FTSE ST All Share 714.27 +0.50 FTSE ST China Top 203.29 +0.25 FTSE ST China 227.99 +0.69 FTSE
      66 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      56 8 VOLUME MDR 148,539,000 TT Intl 96,340,000 GSH Corp 64,178,000 HLH Grp 60,605,000 Noble Grp 49,209,000 ChinaTaisan 47,061,000 ARA 45,234,000 Golden Agri 44,472,000 Rowsley 41,399,000 SingXpress 40,910,000 VALUE($) SingTel 76,742,680 ARA 64,237,495 Noble Grp 56,684,225 DBS Grp 50,716,850 Keppel Corp 44,334,900 Genting SP 42,966,990 Wilmar 37,089,820 SembMar 35,478,850
      56 words
    • Article
      Lock icon BROKERS’ TAKE
      923 8  -  Compiled by JOYCE HOOI SMRT Corporation July 4 close: $1.69 MAYBANK KIM ENG RESEARCH, July 4 INCREASING incentive of ear-ly-bird discounts. SMRT will be extending the morning off-peak travel discount scheme to five more stations in town (total: 14 stations) and increasing the discount quantum from 30 cents
      923 words
    • Article, Illustration
      Lock icon Euro struggles on weak data, ECB rate cut seen
      570 8 CURRENCIES Reuters [LONDON] The euro slipped against the US dollar and the yen yesterday as grim economic data strengthened expectations that the European Central Bank is about to cut interest rates, likely keeping the single currency under pressure. It slumped to
      Reuters; REUTERS  -  570 words
    • Article
      Lock icon RISES
      112 8 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 333.8 2.7 GLD 10US$ ***** 115.1 0.6 JSH 3170 63.2 1.6 Asia Pac Brew 3450 50.0 1.5 DBS Bk 4.7% NCPS 100 ***** 50.0 0.5 DBXT MSINDO 10us$ 1459 44.3 2.5 DBXT MSAsExJp 10US$ 2954 41.7 1.1 SIA.ES.1207 1048 33.0 3.3
      112 words
    • Article
      Lock icon FALLS
      124 8 BY CENTS CLOSE DOWN DBXT AUD Bonds 5AU$ ***** -144.0 -0.6 Pru 500US$ 1150 -63.2 -4.2 OCBC Bk 5.1%NCPS 100 ***** -40.0 -0.4 DBXT S&P Short 10US$ 3711 -37.9 -0.8 UOB 5.05%NCPS 100 ***** -30.0 -0.3 Jardine C&C 4781 -29.0 -0.6 OCBC Bk 4.5%NCPS 100 ***** -20.0 -0.2 JMH
      124 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
      5 words
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      333 words
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      2073 10 MATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices TRAVELITE HOLDINGS LTD. (Incorporated in the Republic of Singapore) (Company Registration Number: *****1089K) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of TRAVELITE HOLDINGS LTD. (the "Company") will be held at 205A Kallang Bahru Singapore *****2
      2,073 words
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      225 11 A Straits Times Appreciates Readers Event Watch 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) Boys Like Girls Enjoy a 3-hour concert with performances from international stars Tanya Chua, 4Minute,
      225 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Panel supports proposals on expanding tertiary education
      458 12  -  They include plans to develop new applied degree pathway By MALMINDERJIT SINGH SINGAPORE is one step closer to expanding its university sector by developing a new applied degree pathway and enhancing Continuing Education and Training (CET) opportunities at the degree level. The Ministry
      SEAH KWANG PENG/THE STRAITS TIMES  -  458 words
    • Article
      Lock icon Small car COE premium rises, big car premium falls
      385 12  -  Dealers say buying sentiment in market is weak By SAMUEL EE COE premiums were mixed in yesterday’s bidding exercise for certificates of entitlement, the last one before the likely announcement of the next six-monthly quota from August 2012 to January 2013.
      385 words
    • Article, Illustration
      Lock icon S’pore among cloud adoption leaders in APEJ
      613 12  -  By AMIT ROY CHOUDHURY SINGAPORE companies have enthusiastically embraced the cloud in its many flavours and the Republic is now considered a mature and sophisticated market ahead of most other countries in the Asia Pacific excluding Japan (APEJ) region. A quick preview of
      613 words
    • Article
      Lock icon 2012 prestige brand awards launched
      322 12  -  By FELDA CHAY CREATING a brand that is recognised across borders is no easy feat, but the Singapore Prestige Brand Award (SPBA) hopes to continue helping homegrown brands gain recognition and, in the process, uncover Singapore’s own Google, or Procter Gamble. That was the message
      322 words
    • Article, Illustration
      Lock icon A Singapore first for Marina Bay
      439 12  -  By LYNN KAN THE Marina Bay area will soon become Singapore’s first district to get an underground suction garbage disposal system, also called the pneumatic refuse conveyance system (PRCS). Yesterday, the National Environment Agency (NEA) launched a request for proposal for a design, build,
      Source: URA  -  439 words
    • Article
      Lock icon Apple remains Singaporeans’ favourite brand: report
      434 12  -  By APRIL CHYE APPLE continues to top the list of Singapore’s favourite brands, according to Campaign Asia-Pacific’s latest “Asia’s Top 1000 Brands” report. It was followed closely by Samsung and Sony, with NTUC FairPrice, Nestle, Canon, Panasonic, Nike, Maggi and Hewlett-Pack-ard filling up the
      434 words
    • Article
      Lock icon Rewarding excellent service
      131 12 NOMINATIONS for the Singapore Service Excellence Medallion, one of the most prestigious service awards here, are now open. The award aims to honour organisations which show service leadership and implement customer-centric policies as well as highlight individuals who are service role models. In the case of individuals,
      131 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Aussie retail sales surprise with 0.5% jump in May
      575 13 Australian dollar up on data showing boost to economy from rate cuts Reuters [SYDNEY] Australia’s retail sales outpaced expectations in May as lower interest rates and government tax breaks gave a fillip to spending power, another sign of economic resilience that
      Reuters; AFP  -  575 words
    • Article, Illustration
      Lock icon Tokyo urged to sell more govt bonds
      647 13 Bloomberg [TOKYO] Far from tightening its fiscal belt, Japan should expand the world’s largest debt pile to rekindle economic growth, said Eisuke Sakakibara, a former Ministry of Finance official. Prime Minister Yoshihiko Noda’s push to double the sales tax to lessen the government’s
      Bloomberg  -  647 words
    • Article
      Lock icon Thai consumer confidence in June highest since ’11 floods
      363 13 Reuters [BANGKOK] Consumer confidence in Thailand rose in June to its highest level since devastating floods hit the country last year, with sentiment helped by lower oil prices and a cooling in Thailand’s political temperature after recent protests. “There seem to
      Reuters  -  363 words
    • Article, Illustration
      Lock icon ECB expected to cut rates by a quarter point
      580 13 Move seen giving modest lift to EU economy, banks AP [FRANKFURT] Europe’s sinking economy and wobbly banks could get modest help today from an interest rate cut by the European Central Bank. Economists think the ECB will cut its benchmark refinancing
      AP; REUTERS  -  580 words
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      270 13 NANYANG TECHNOLOGICAL UNIVERSITY Nanyang Business School University of California Berkeley Haas School of Business A strategic fusion of East and West business wisdom. Be a part of this distinguished cohort. "The BNAMP provides a good in-depth study into both the Western and Eastern models of business and how they differ
      270 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Malaysia’s trade surplus in May near 10-year low
      374 14 Strong domestic demand and economic growth boost imports Reuters [KUALA LUMPUR] Malaysia posted its smallest monthly trade surplus in nearly 10 years in May, underscoring strong domestic demand and economic growth that have kept imports rising at a faster pace than exports.
      Reuters  -  374 words
    • Article, Illustration
      Lock icon M’sian IPO momentum seen fizzling out
      668 14 Analysts say listings getting govt support ahead of polls AFP [KUALA LUMPUR] Malaysia is tipped to be Asia’s top IPO market for 2012, thanks to two of the world’s biggest company listings this year, but analysts say the momentum is likely to fizzle out.
      AFP; REUTERS  -  668 words
    • Article
      Lock icon Indonesian unit of Freeport mulling IPO
      337 14 AFP [JAKARTA] The Indonesian subsidiary of US mining giant Freeport-McMoRan is considering launching an initial public offering (IPO), its head said in comments published yesterday. “We are considering several options, including an IPO,” Freeport Indonesia president Rozik Soetjipto was quoted as telling the Jakarta
      –AFP  -  337 words
    • Article
      Lock icon Indonesia to target zero rice imports this year
      306 14 Reuters [JAKARTA] Indonesia is unlikely to import rice in 2012 and is forecast to have a 5.5 million tonne surplus of the staple by the end of the year, the state rice procurement agency, Bulog, said yesterday. Indonesia’s unmilled rice production is
      Reuters  -  306 words
    • Article
      Lock icon Jakarta urged to review trade pact with Japan
      224 14 Xinhua [JAKARTA] The Indonesian Chamber of Commerce and Industry (Kadin) has asked the government to review the country’s bilateral trade pact with Japan, called the Indonesia-Japan Economic Partnership Agreement (IJEPA), according to a statement released yesterday. Kadin said Indonesia has an US$825
      Xinhua  -  224 words
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      1391 14 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices CHINA INTERNATIONAL HOLDINGS LIMITED (Company Registration No.: *****) (Incorporated in Bermuda) NOTICE OF SPECIAL GENERAL MEETING All capitalised terms in the Ordinary Resolutions below and defined in the Circular dated 5 July 2012 to the shareholders of the Company (the “Circular”) shall,
      1,391 words
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      693 14 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 TELEMONEY ASIA PTE. LTD. (REGISTRATION No.: *****1682D) (INCORPORATED IN SINGAPORE) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 2 Ang Mo Kio Avenue 12 S(*****7) on the 5 July 2012 the Resolutions set out below
      693 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon India’s services sector grows at slower pace
      483 15 But June new orders picked up and firms hired at fastest rate in a year: survey Reuters [NEW DELHI] India’s services sector in June expanded for the eighth straight month although at a slower clip, but new orders picked up and firms hired
      Reuters; AFP FILE PHOTO  -  483 words
    • Article, Illustration
      Lock icon China’s slower luxury spending drags on HK
      703 15 Nearby Macau’s casino revenue also below forecasts Bloomberg [HONG KONG] China’s slowdown dragged Hong Kong’s retail sales growth to the weakest pace since 2009 as shoppers visiting from the mainland cut back on purchases of luxury goods such as jewellery and watches. Sales
      Bloomberg; AP  -  703 words
    • Article
      Lock icon Telcos banking on India rural remittances
      603 15 Bloomberg [MUMBAI] For a good look at the future of retail banking and mo-bile-phone profits in the developing world, consider the competition between corporate giants in Dharavi, the Indian shantytown that was the setting for the film Slumdog Millionaire. And also consider that they
      Bloomberg  -  603 words
    • Article
      Lock icon Central bank offers 38b yuan reverse repos
      524 15  -  By FREDERICK YEUNG EJ Insight [HONG KONG] The People’s Bank of China (PBoC) offered reverse repos for the second consecutive week in an unusual move on Tuesday, indicating that policymakers are preparing for possible monetary easing in the US and Europe. The Chinese
      EJ Insight  -  524 words
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      953 15 KLW HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number:*****4141D) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of KLW HOLDINGS LIMITED (the “Company”) will be held at 19 Senoko Loop, Singapore *****9 on 20 July 2012 at 2.00 p.m., for the
      953 words
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  • WORLD
    • Article, Illustration
      Lock icon Japan reactor is on but energy policy still hazy
      857 16 Proponents of nuke power won’t win argument in the long term: analysts Reuters [TOKYO] Buffeted by industry worries about high electricity costs on one side and public safety fears about nuclear power on the other, Japan’s leaders are still struggling to
      Reuters; AP  -  857 words
    • Article
      Lock icon Goldman loses appeal against Bayou creditors
      185 16 Bloomberg [LOS ANGELES] Goldman Sachs Group Inc lost its appeal of a US$20.5 million arbitration award to creditors of Bayou Group LLC whose hedge funds for which Goldman served as broker turned out to be Ponzi schemes. The US Court of Appeals in Manhattan
      Bloomberg  -  185 words
    • Article
      Lock icon Bangkok refinery to shut for one week after fire
      393 16 Bloomberg [BANGKOK] Bangchak Petroleum will shut its refinery in Bangkok fully for one week and keep an 80,000 barrels a day crude distillation unit closed for 30 days after a fire. The blaze occurred in the No. 3 crude unit, which
      Bloomberg  -  393 words
    • Article, Illustration
      Lock icon Works by Constable, Rembrandt star at Christie’s auction
      705 16 New bidders from emerging economies bolstered demand Bloomberg [LONDON] Paintings by Constable and Rembrandt starred at a US$133 million auction in London on Tuesday night that set a record total for any sale of Old Masters. Constable’s 1824 landscape The Lock sold
      Bloomberg; AFP; BLOOMBERG  -  705 words
    • Article, Illustration
      Lock icon Energy probe casts shadow on JPMorgan
      537 17 Its refusal to reveal emails in market manipulation case a challenge for CEO Bloomberg [WASHINGTON] JPMorgan Chase Co’s refusal to turn over e-mails in a federal probe of potential energy market manipulation is the latest challenge for chief executive officer Jamie Dimon as the
      Bloomberg; REUTERS  -  537 words
    • Article
      Lock icon Japan to toughen insider trading penalties
      290 17 Reuters [TOKYO] Japan’s financial regulator plans to introduce steeper fines for insider trading in the wake of scandals engulfing Nomura Securities and other brokerages, toughening regulations that critics have called too lax by global standards. Financial services minister Tadahiro Matsushita yesterday instructed an advisory
      Reuters  -  290 words
    • Article
      Lock icon News Corp hacking scandal not going away anytime soon
      754 17 More claims, more trials expected well into next year Bloomberg [LONDON] Thousands of News Corp’s potential phone-hacking victims still haven’t been notified by police and dozens of suspects may face long criminal trials in a sign that the scandal that peaked
      Bloomberg  -  754 words
    • Article, Illustration
      Lock icon Global life insurers turn to Cambodia
      346 17 Prudential, Manulife to open offices in untapped market Reuters [HONG KONG] Two global life insurers are opening offices in Cambodia, one of South-east Asia’s few untapped insurance markets, as they strengthen their foothold in a region that could eventually be a key driver of
      Reuters; REUTERS  -  346 words
    • Article
      Lock icon BBC names new director general
      202 17 Reuters [LONDON] The BBC yesterday named George Entwistle, currently director of vision, as its new director general. Mr Entwistle will take up his new role in August from outgoing director general Mark Thompson but at a lower salary £450,000 (S$893,630) a year as opposed to
      Reuters  -  202 words
    • Article, Illustration
      Lock icon Ageing populace slowingdown eurozone
      637 18 What Europe needs is a demographic policy shift and not euro bonds Bloomberg [LONDON] The euro region’s ability to grow its way out of the debt crisis faces a roadblock an ageing population. While Italian Prime Minister Mario Monti and his Spanish and French counterparts push
      Bloomberg; REUTERS  -  637 words
    • Article, Illustration
      Lock icon Markets want to see shape and speed of eurozone fiscal union
      832 18  -  ANALYSIS By ALAN WHEATLEY The writer is global economics correspondent [LONDON] It’s 2025 and Angela Merkel, Europe’s first democratically elected president, is reviewing a crowded agenda for the new session of the increasingly powerful European Parliament. The head of
      832 words
    • Article
      Lock icon The dark side of Asian shadow education
      690 18  -  By ANTHONY ROWLEY in Tokyo EFFORTS to reduce social and economic inequality in Asia are being menaced by the growth of “shadow education”, which has reached alarming proportions as parents seek to give their children a head start in life, warns a study
      690 words
    • Article
      Lock icon Still a grim street if Ireland turns the corner
      770 18 Reuters [DUBLIN] Ireland has for months been telling its European partners that it can, with their help, deliver a rare good news story to the beleaguered continent, but it can’t change the narrative without better newsflow in the rest of the
      Reuters  -  770 words
    • Article
      Lock icon Myanmar president mulls cabinet reshuffle, appointment of new deputy
      387 18 Reuters [NAYPYITAW] Myanmar President Thein Sein plans to reshuffle his cabinet and appoint a new vice-president to reduce the influence of anti-reform ministers and accelerate changes in the former pariah state, several lawmakers said. The imminent reshuffle could sideline some hardliners
      Reuters  -  387 words
    • Article
      Lock icon US releases public parts of banks’ living wills
      772 19 Nine top banks say they can be saved or taken apart without bailouts if they are insolvent Reuters [WASHINGTON] Nine of the largest global banks on Tuesday expressed confidence that they can be salvaged or dismantled without taxpayer bailouts if they became
      Reuters  -  772 words
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      Lock icon Barclays frames defence of interest rate rigging
      756 19 Bank claims regulators were aware of practice NYT [NEW YORK] When Barclays bank manipulated key interest rates to bolster profits during the 2008 financial crisis, senior executives said they were following a common practice that regulators implicitly approved, according to documents released by
      NYT; BLOOMBERG  -  756 words
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      Lock icon Physicists celebrate evidence of new particle
      603 19 AP [GENEVA] To cheers and standing ovations, scientists at the world’s biggest atom smasher claimed the discovery of a new subatomic particle yesterday, calling it “consistent” with the long-sought Higgs boson popularly known as the “God particle” that helps explain what gives all matter
      AP; REUTERS  -  603 words
    • Article
      Lock icon Slow US growth may impact banks’ credit ratings: Fitch
      306 19 Bloomberg [NEW YORK] Slow US economic growth and weak consumer demand would negatively affect the creditworthiness of some banks, asset managers and insurers, and may trigger downgrades, according to Fitch Ratings. A 1.5 per cent annual expansion of US gross domestic
      Bloomberg  -  306 words
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      1466 17 'St WATH NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP.50) AND IN THE MATTER OF MUNDO VENTURES PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****3488C NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD AT 7
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      430 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 PURSUANT TO SECTION 290(2)(b) AND IN THE MATTER OF CHUANG CHUNG WEN (PRIVATE) LIMITED (Company No: *****0659H) (In Members’ Voluntary Winding Up) By way of Shareholders’ Written Resolution dated 4th July 2012 the Special Resolutions set out below were duly passed:
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  • EDITORIAL & OPINION
    • Article
      Lock icon Growing an innovative economy
      459 20 EDITORIAL TO innovate is to introduce something new, to make changes in something established, presumably for the better. Innovation doesn’t take place only in an R&D lab but conceivably across all settings at work, at home, at play. It would be apparent enough then that innovation
      459 words
    • Article, Illustration
      Lock icon Now is the Kondratiev Winter of discontent
      806 20  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent COULD we be at the beginning of a “Kondratiev Winter” which will see the process of financial deleveraging now underway among many of the world’s leading banks extend for a decade or more as risk appetite
      806 words
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      Lock icon The perils of prophecy
      975 20  -  Those who work in the tradition of Bagehot, Minsky and Kindleberger seem more accurate By J BRADFORD DELONG The writer, a former deputy assistant secretary of the US Treasury, is professor of economics at the University of California at Berkeley and a research associate at the
      STOCK.XCHNG  -  975 words
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      Lock icon Global debt picture not very pretty
      1631 21  -  As long as the US debt problem has not been addressed, eurozone woes will look like a picnic in comparison By JOERGEN OERSTROEM MOELLER The writer is visiting senior research fellow, Institute of Southeast Asian Studies, Singapore, and adjunct professor, Singapore Management University and
      AFP  -  1,631 words
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      Lock icon Stimulus vs austerity: the wrong debate
      805 21  -  REUTERS BREAKINGVIEWS By EDWARD HADAS IN ONE corner of the intellectual boxing ring is Stimulo. His fighting words: more economic stimulus. History and theory, he declaims, teach that governments should run much larger fiscal deficits in a downturn. n the other corner is the
      805 words
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  • AVIATION
    • Article, Illustration
      Lock icon Retailers see huge potential in airport stores
      662 22 Luxury brands expanding presence in high-end airports around the world Reuters [NEW YORK] A rising class of affluent globe-trotters from China, Russia and Brazil is spurring retailers to expand their presence in high-end airports from the United States to Germany and China. Travel
      Reuters; FILE PHOTO  -  662 words
    • Article
      Lock icon Ranting JetBlue pilot found insane and not guilty
      459 22 AP [AMARILLO, Texas] A federal judge in Texas found a JetBlue Airways pilot who left the cockpit during a flight and screamed about religion and terrorists not guilty by reason of insanity. US District Judge Mary Lou Robinson on Tuesday issued the
      AP  -  459 words
    • Article
      Lock icon Air India pilots call off 58-day strike
      624 22 Delhi court orders pilots to return to work immediately Reuters AP [NEW DELHI] A group of pilots at ailing national carrier Air India demanding exclusive rights to fly new Boeing Dreamliners called off a 58-day strike late on Tuesday, bowing to pressure from
      Reuters; AP  -  624 words
    • Article, Illustration
      Lock icon Subsidy row with Airbus will help other players, says Boeing
      406 22 EU not keen on resolving the issue, say US firm’s execs AFP [NEW YORK] The conflict over subsidies between Boeing and Airbus is opening the door for other competitors to gain ground in the industry, two Boeing representatives said on
      AFP; AP  -  406 words
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      24 22 Mfc. LIANHE ZAOBAO mm\u. e^lu *s=*!»«« iu mm±m Mt Putuo, Jiuhua and Wutai China's famous Buddhist To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      299 22 CRYPTIC CROSSWORD Across 1 Hurry to serve up set point (4,2,2) 6 Equality is hard in church district (6) 9 Perfect score: one dividing bridge partners in game (6) 10 Hysteria developing by December 31 (4,4) 11 Money box that takes the biscuit? (5,3) 12 Complaint made by youngster getting
      299 words
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  • SHIPPING
    • Article
      Lock icon Mitsui relocating 20 oil traders to Singapore
      604 23 Japanese firm back in S’pore as it seeks to boost oil trading by more than 30% Bloomberg [TOKYO] Mitsui Co, the Japanese trader that lost US$81 million in hidden naphtha deals in Singapore in 2006, is marking a return to the city-state as
      Bloomberg  -  604 words
    • Article
      Lock icon Maersk wins US cargo deal worth up to US$2.1b
      351 23 Reuters [COPENHAGEN] Maersk Line, part of Denmark’s AP Moller-Maersk, has won a contract worth up to US$2.1 billion for shipping US military cargo, signalling that defence officials have put a dispute about overcharging behind them. The US Defense Department said it
      Reuters  -  351 words
    • Article
      Lock icon Ageing NZ ports may not be able to handle big ships
      473 23 If modernisation is delayed country will lose out to Australia Bloomberg [WELLINGTON] New Zealand’s ports, the gateway for a quarter of the nation’s economy, have a potential threat to their future: Most container ships under construction are so big
      Bloomberg  -  473 words
    • Article, Illustration
      Lock icon Istithmar to turn Queen Elizabeth 2 liner into 300-room hotel
      520 23 Bloomberg [DUBAI] The Queen Elizabeth 2 ocean liner, whose passengers included Britain’s royal family, will be converted into a 300-room luxury hotel in a Dubai port, according to the owner. Istithmar World PJSC, the state-owned company that bought the 963-foot
      Bloomberg; QE2  -  520 words
    • Article
      Lock icon TRANSPORT STOCKS
      250 23 SGX '000 Jul 4 S$ +/-Vol CH Offshore 0.42 -0.01 229 Chuan Hup Hldg 0.23 unch 97 Cosco Corp 1.01 -0.01 3659 s$ First Ship Lea 0.17 unch 365 Freight Links 0.07 unch 1243 Grand Banks unch unch 0 Jaya Hold Ltd 0.57 -0.01 274 K1Ventures 0.13 unch
      250 words
    • Article
      Lock icon Another cruise terminal planned in Jakarta
      293 23 Feasibility study has started and construction will begin next year, says official Xinhua [JAKARTA] Indonesia plans to build another international class cruise ship terminal in Jakarta in an effort to boost cruise tourism industry in the country, the Jakarta Post reported yesterday. A feasibility
      Xinhua  -  293 words
    • Article
      Lock icon The Business Times Shipping times
      1981 24 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
      1,981 words
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      32 23 www.omy.sg o (MB5© 1 (EB3S Tell us how social media your world Wifi digital cameras! 4' 4 IV i *4 Simply tag your Instagram photo with #sociaImediarockmyworid Visit www.omy.sg for more details!
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      24 23 r 0 91.3F 3 S? V DOWNLOAD THE NEW 31.BFM ANDROID AFP NOW! Wi FACEBOOK.COM/NINETYONETHREE FOLLOW US ON TWITTER BRADIO_B13 LOG ON TO WWW.RADIOB13.COM
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2829 25 Transaction date: Jul 4 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 Last Vol Day Last Quote Div Gr Yld 123 92.5 AIMSAMPIReit 122.5 unch 401 123 122 122.5 123 6.8 11.7
      2,829 words
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      Lock icon SGX CATALIST
      158 26 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 Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller C'vr P/E Smil +1.5
      158 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      7964 26 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 Cxy SD Bond 0.9953/ EM Local Cty Bond
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      Lock icon GLOBALQUOTE
      205 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.5 28.5 AVJennings A32.5 +3 16 32.5 32.5 30.5 37.5 3.6 10.8 2.6 84.6 46 25.5 Genting HK US$ US32 -0.5 4446 33 31.5 31.5 32 2107
      205 words
    • Article
      Lock icon SGX ETF
      924 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 122.4 122.2 CIMB APAC Div 100S$D 122.2 128 129 103 95.8 CIMB APAC Div 100US$ US96 101.4 102.2 10.1 1260 1246 CIMBASEAN40 100S$D 1260 1275 1283
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX FUTURES
      623 27 Jul 4 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9119.69 9136.02 9095.31 Sep12 9065.00 9155.00 9060.00 9090.00 ***** *****4 Dec12 9055.00 9055.00 9040.00 9030.00 12 6624 MSCI TAIWAN INDEX FUTURES SPOT 263.94 265.08 263.40 Jul12 258.00 260.90 257.80 259.40 ***** *****3 Aug12 256.30 257.50
      623 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 3 Index Change Change Change Change Change Change World Preliminary 883.4 0.9 6.5 0.4 3.0 0.9 5.8 EAFE Preliminary 708.5 1.0 3.9 0.4 -0.5 0.9 2.3 Europe Preliminary 1057.3 1.1 3.0
      373 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      139 27 As on 3 July 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1623.70 1612.50 1622.00 13 INDIA GOLD (E-GOLD) FUT AUG2012 542.05 534.85 537.30 911 GOLD FUT OCT2012 1615.10 1615.00 1624.20 4 INDIA GOLD (E-GOLD) FUT OCT2012 541.05 535.95 543.00
      139 words
    • Article
      Lock icon CHICAGO BOT
      107 27 Jul 3 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 12 1572.25 1532.25 1578.00 1534.50 Aug 12 1529.50 1494.25 1538.00 1497.50 Sep 12 1498.00 1462.50 1500.75 1466.25 Nov 12 1474.75 1438.00 1478.00 1441.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 12 52.95
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS Jul 3 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 100.71 4.67 WTI (Near Mth) 87.56 4.06 Dubai (1-Mth F) 95.60 1.88 Tapis blend 102.76 3.18 Minas 104.26 3.18 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 86.00 2.28 Jet Kerosene 113.15 1.01 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      23 27 Jul 4 4 s$ Bid Offer 1-month 1.2644 1.2646 2-months 1.2643 1.2645 3-months 1.2640 1.2643 6-months 1.2629 1.2632 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      64 27 Jul 3 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1947.75 1873.00 3 months 1982.00 1909.00 Copper, Grade A(US$/tonne) Cash 7821.00 7634.75 3 months 7819.00 7625.00 Lead(US$/tonne) Cash 1928.50 1866.25 3 months 1939.00 1879.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.50 3 months *****.00
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      Lock icon LIFFE
      80 27 Jul 3 COCOA (£/tonne) Close Prev High/Low Jul 12 1651 1627 1659/1623 Sep 12 1598 1577 1606/1581 Dec 12 1568 1556 1576/1558 Mar 13 1541 1527 1550/1527 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2111 2095 2119/2090 Sep 12 2136 2135 2149/2120 Nov 12 2136 2135 2146/2121 Jan 13 2115
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1256 27 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 22 Conv Aztech Grp W*****3 0.4 0.1 1001 1 20 108 24.50 4 Baker Technology Ltd W*****6 0.6 1 32 7 50.83 4
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    • Article
      Lock icon INTERBANK CROSS RATES
      470 27 Jul 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.041 6.515 0.816 7.959 56.257 95.999 0.819 11.686 3.239 1.278 96.918 42.950 1.298 8.342 0.980 30.637 32.326 0.656 1.026 Canada 0.961 6.261
      470 words
    • Article
      Lock icon SIBOR
      56 27 Jul 4 (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$) 1 yr 0.*****
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    • Article
      Lock icon PRECIOUS METALS
      137 27 Jul 4 GOLD(US$/oz) Jul 04 Jul 03 Hong Kong 1623.00 1614.00 Jul 03 Jul 03 Jul 02 London 1618.54 1597.59 1619.76 1598.81 Source: Thomson Reuters CAST BAR Jul 04 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 158 66 5gm 447 328 10gm
      137 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      86 27 Jul 4 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 04-Oct-12 0.26 1-Year BY*****T 02-May-13 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.14 5-Year N*****0Z 2.375 01-Apr-17 109.37 109.50 109.42 10-Year NY*****X
      86 words
    • Article
      Lock icon PALM OIL
      58 27 Jul 4 4 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 12 3100.0 3098.0 3114.0 3100.0 124 2554 Aug 12 3130.0 3114.0 3133.0 3100.0 1214 ***** Sep 12 3139.0 3124.0 3147.0 3110.0 ***** ***** Oct 12 3143.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Jul 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2975 1.2982 1.0262 1.0266 Canadian dollar 1.2471 1.2476 0.9866 0.9863 Euro 1.5904 1.5909 1.2578 1.2580 NZ dollar 1.0149 1.0159 0.8027 0.8033 Sterling pound 1.9785 1.9792 1.5648 1.5651
      154 words
    • Article
      Lock icon INTERBANK RATES
      154 27 Jul 4 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.00 0.80 12
      154 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Jul 04 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.329 1.266 Can dollar 1.276 1.216 Euro 1.628 1.551 Sterling pound 2.017 1.940 NZ dollar 1.044 0.995 US dollar 1.282 1.233 Local dollars to 100 units of foreign
      121 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Market for first-time buyers
      1142 28 They are enticed by rising rents and low mortgage rates in Manhattan Bloomberg [NEW YORK] MANHATTANh o m e s a l e s were dominated by studios and one-bed-room apartments in the second quarter, as rising rents and low mortgage rates pushed first-time buyers into
      Bloomberg; BLOOMBERG  -  1,142 words
    • Article
      Lock icon Househunt
      800 28 PROPERTY TRANSACTIONS FOR DISTRICTS 2 TO 28 WITH CONTRACT DATES BETWEEN JUNE 6 AND JUNE 12, 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 Spottiswoode 18 Apt 07/06/2012 FH 893 1648 1845 District 4 NON-LANDED Mt Faber
      800 words
    • Article
      Lock icon Saudi home loan spike likely with new law
      967 29 Mortgage law opens more doors for lenders, developers and homebuyers Bloomberg [DUBAI] Saudi Arabia’s mortgage law, approved two days ago after more than a decade of debate, will encourage banks to expand lending in a US$16 billion market that now accounts for
      Bloomberg  -  967 words
    • Article, Illustration
      Lock icon Cambodian groups bitter at EU sugar deal
      674 29 AFP [KOH KONG, Cambodia] An EU scheme to boost trade with developing nations is fuelling land grabs in Cambodia, activists say, with thousands evicted from their property to make way for a booming sugar industry. Campaigners are taking their fight to European supermarkets,
      AFP  -  674 words
    • Article, Illustration
      Lock icon China urged to take more action
      412 30 Beijing must roll out new steps to fight speculative housing demand: paper Reuters [BEIJING] China must roll out new measures to combat speculative housing demand as risks of a home price rebound rise, the official People’s Daily said in a commentary published yesterday. More
      Reuters; REUTERS  -  412 words
    • Article
      Lock icon Hong Kong home sales fall to 4-month low in June
      299 30 Bloomberg [HONG KONG] The number and value of Hong Kong home sales fell to the lowest in four months in June, as the retreat in global stocks and a pledge by the city’s new administration to increase housing supply suggested
      Bloomberg  -  299 words
    • Article
      Lock icon Melbourne homes for sale jump 28%
      388 30 Bloomberg [SYDNEY] Homes for sale in Melbourne surged 28 per cent last month from a year ago, more than four times the increase across the country’s eight state capitals, even as prices slid 6.6 per cent from a year earlier. Dwellings offered for sale
      Bloomberg  -  388 words
    • Article, Illustration
      Lock icon ABSD-exempt share of home buying edges up
      869 31  -  But volume down in segment as overall market sees drop in foreigner purchases By MICHELLE TAN [SINGAPORE] The share of home purchases made by buyers from countries exempted from the additional buyer’s stamp duty (ABSD) has inched up in the first half of
      869 words
    • Article
      Lock icon Malaysians pip Chinese in S’pore property scene
      346 31  -  By MICHELLE TAN [SINGAPORE] Malaysians have emerged as the biggest foreign buyers of Singapore residential property, outpacing those from China. According to data from the Urban Redevelopment Authority (URA) and CBRE Research, Malaysian buyers comprised 27.6 per cent of all foreigner purchases during
      346 words
    • Article
      Lock icon Surbana wins masterplandeal for Rwanda city
      239 31  -  By MINDY TAN [SINGAPORE] Surbana International Consultants has been awarded a contract by the City Council of Kigali to do a masterplan for the 730 sq km capital city of the Republic of Rwanda. Surbana, the first Singapore urban planning company to break into
      239 words
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      Lock icon Page 29 Advertisements Column 1
      168 29 FOR SALE BY TENDER CITY FRINGE FREEHOLD LANDED FACTORY KALLANG RIVER Land Size 3,243.5 sqm (34,912.7 sqft approx) MP 2008 Industrial Business 1 Use with GPR of 2.5 Ideal to Redevelop as Corporate HQ or High Tech Light Industrial Building Prominent Location With Two SidesAdjoined to Roads Approximate 470m and
      168 words
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      Lock icon Page 29 Advertisements Column 2
      476 29 International Property Group Pte Ltd A Singapore based Boutique Real Estate Broker Focusing On Commercial Real Estate In Central Region of Singapore. We deal with Sales Leasing of the following types of assets 3 4 Star Hotels Shopping Mall Office Commercial Buildings Boutique Budget Hotels Commercial Shophouses Strata Office Units
      476 words
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  • Page 30 Advertisements
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      Lock icon Page 30 Advertisements Column 1
      407 30 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
      407 words
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      Lock icon Page 30 Advertisements Column 2
      70 30 Near Raya Lebar MRT Brand New T.O.P. early 2013 Built-in: 20,000-100,000 sq ft Corporate Image Bare or with air-con Ample carparking Dominic Peters NASSIM GCB Sought after location. Elevated land approx 31,683 sqft. Wide frontage. Auspicious no. Potential for 2 GCBs. Rarely avail! PRs eligible. CBRE Luxury Homes CEA Reg
      70 words
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      Lock icon Page 30 Advertisements Column 3
      129 30 RESIDENTIAL SITE NOVENA Estate Agency Licence No: L*****33E Ultra Mansion, Derbyshire Road Located in Prime District 11, Novena (Freehold) Site Area 4,228.25 sqm 45,512 sq ft MP 2008 Zoning Residential Plot Ratio 2.8, Potential GFA 140,180 sqft Minimum DC 500m to Novena MRT station Proximity to World-Class Medical Hub IRRAWADY
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      98 31 You are cordially invited to our priority preview of PARC CCNTR05 Brand New Condo beside Punggol MRT Punggol MRT I Future Waterway Point Compass Point Central Business District 2 minutes walk to Punggol MRT New Mega Mall! 8 blocks 16 storeys 618 units 1- to 5-bedroom single level penthouses www.parccentros.com.sg
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      362 31 A fabulous Art Deco building offering I and 2 bedroom apartments. Exceptional specifications and interior design features throughout Excellent proximity to Bond Street and world class West End shopping Brilliantly placed for University College Hospital UCL Moments from Warren Street Underground Station (Northern Line and Victoria Line) Ideally placed for
      362 words
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