The Business Times, 21 July 2012
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2012-07-21
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The Business Times
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Title Section14 2012-07-21 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| JULY 21-22, 2012 S$1.00| MICA (P) 121/08/201114 words
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Article32 2012-07-21 1 FIRST IN 26 YEARS MICROSOFT posted its first quarterly loss in its 26 years as a public company as it declared an online ad business a bust. 232 words
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Article23 2012-07-21 1 SGX-LSE MERGER? ANOTHER month, another rumour about the Singapore Exchange hooking up with another bourse in a merger deal. 1223 words
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Article20 2012-07-21 1 dbs’s danamon bid DBS GROUP’S bid for Bank Danamon appears to have advanced another step. 820 words
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Article31 2012-07-21 1 LIBOR PROBE A GROUP of banks being investigated in an interest rate rigging scandal are looking to pursue a group settlement rather than face a Barclays-style backlash. 1931 words
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Article, Illustration1032 2012-07-21 1 Emilyn Yap - Offer for Tiger-maker could spark counter-bids as Asian beer battle heats up By Emilyn Yap emilyny@sph.com.sg Singapore HEINEKEN NV has launched a swift defence of its interests in Asia Pacific Breweries (APB) with a takeover offer worth $7.5 billion a move that couldSource: Datafrom company reportsand Bloomberg - 1,032 words
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968 2012-07-21 1 Joyce Hooi - Games hosts have to keep a stiff upper lip on the way to lighting up the cauldron By Joyce Hooi joyceh@sph.com.sg Singapore AS the Olympic Torch makes its way across the United Kingdom in the run-up to the London 2012 Olympics, the city’s968 words
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Page 1 Advertisements
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Advertisement18 2012-07-21 1 the business www. usinesstimes.com. the raffles conversation RUCHIR SHARMA, EMERGING MARKET CONTRARIAN 10-11 LIVING Bricks to bistros L2-418 words
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Advertisement6 2012-07-21 1 MOTORING The BMW M6 Convertible L186 words
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Advertisement6 2012-07-21 1 WEALTH Benefiting from financial repression 30-316 words
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TOP STORIES
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667 2012-07-21 2 Net loss for Q4 is due to US$6.2b writedown of its US$6.3b aQuantive acquisition AP Los Angeles MICROSOFT posted its first quarterly loss in its 26 years as a public company on Thursday as it declared a struggling online adAP - 667 words
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MARKETS
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Article58 2012-07-21 2 HSTI 3,015.53 (-13.43) HSTI FUTURES 3,010 (-17) HSIMSCI 348.79 (-1.30) GSIMSCI FUTURES 350.10 (+0.40) Friday Change KL COMP 1,643.00 -1.60 NIKKEI 225 8,669.87 -125.68 HANG SENG 19,640.80 +81.75 SET 1,208.55 -4.41 JAKARTA 4,081.20 -14.99 MANILA 5,210.89 +21.52 KOSPI 1,822.93 -0.03 SHENZHEN B 618.81 -4.16 MUMBAI IND 17,158.44 -120.41 12noon58 words
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Article48 2012-07-21 2 us$ s$ US$ (S$ per US$) 1.255 (US$/S$ per 1.569 1.969 EURO(US$/S$/€) 1.226 1.538 Foreign currency per US$ S$ YEN 78.60 62.60 RM 3.152 2.512 HK$ 7.756 6.181 BAHT 31.69 25.26 RUPIAH 9,475 7,551 RENMINBI 6.374 5.079 INDIAN RUPEE 55.15 43.95 A$ 0.960 0.765 NZ$ 1.246 0.99348 words
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Article29 2012-07-21 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.980 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg29 words
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334 2012-07-21 3 S Jayasankaran - Prominent corporate lawyer out on RM300,000 bail By S Jayasankaran btworld@sph.com.sg Kuala Lumpur ONE of Kuala Lumpur’s most prominent corporate lawyers, Sreesanthan Eliathamby, was charged yesterday on seven counts of insider trading, according to a report in the online version of The Star newspaper.334 words
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557 2012-07-21 3 Joyce Hooi - Shipyard co-founder will remain as chief executive officer of Baker Technology By Joyce Hooi joy ce h @s p h .co m .sg Singapore BENETY Chang, the man who co-founded PPL Shipyard (PPLS) and whom Sembcorp Marine (SembMarine) had once been desperate557 words
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144 2012-07-21 3 AFP Bloomberg Denver, Colorado AT LEAST 12 people were killed and around 40 wounded when a gunman opened fire yesterday at a movie theatre showing the latest Batman film, police said. The police department in the town of Aurora, Colorado said that the shootingAFP; Bloomberg - 144 words
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Article, Illustration412 2012-07-21 4 Eldest son Victor starts taking control of Cheung Kong after asset transfer Reuters Bloomberg Hong Kong ASIA’S richest man, Li Ka-shing, has kicked off a succession plan to transfer control of his empire to his eldest son Victor Li, who has started to takeReuters; Bloomberg; AFP FILE PHOTO - 412 words
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640 2012-07-21 5 Lee U-Wen - Impact of the strife could have worldwide implications as they affect oil supplies and prices By Lee U-Wen leeuwen@sph.com.sg Singapore A NATION ravaged by a 16-month rebellion that has since escalated into a full-blown civil war could well be at its breaking point,640 words
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Article, Illustration607 2012-07-21 6 Malminderjit Singh - MOM survey shows 79.4% of private firms allow local employees to work beyond 62 By Malminderjit Singh msingh@sph.com.sg Singapore PRIVATE employers have adopted the mindset of hiring older Singaporeans, a survey shows. They did this even before the Retirement and Re-employment Act (RRA) came intoSource: MOM - 607 words
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686 2012-07-21 6 Anna Teo - US Labor Dept has press lock-up policies when releasing data By Anna Teo anna@sph.com.sg Singapore FOR journalists reporting on US economic indicators in Washington, the moribund state of the economy isn’t all that they have to come to grips with. Lately, they also686 words
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444 2012-07-21 8 Siow Li Sen - Bank says it’s still studying the new rules that apply to its $9.1 b bid for Bank Danamon By Siow Li Sen lisen@sph.com.sg Singapore DBS GROUP’S bid for Bank Danamon appears to have advanced another step. Yesterday, Bank Indonesia deputy governor Halim Alamsyah said that444 words
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Article, Illustration952 2012-07-21 8 Victoria Ho - Being in a lock-up convinced him to be an entrepreneur By Victoria Ho vhoip@sph.com.sg Singapore IT’S been nine years since the morning the CID raided his home and took away all his computers, but Steven Goh still remembers that day vividly. The 25-year-old has the952 words
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Page 2 Advertisements
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Advertisement98 2012-07-21 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 RafflesConversation 10-11 Companies 12-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Investing 32-33 House Hunt 34 Real Estate 35 LIVING Dining L2-6 Design L7 Home Garden L8-9 Shopping L10-12 Travel L13 Gadgets98 words
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Page 3 Advertisements
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Advertisement102 2012-07-21 3 THE GREAT SALE SINGAPORE ENDS SOON! f caLugcms O f 4 i n BaroniTable/ OmniaYTable/i Planet Table/ 1 L'eaufehair (fhain Parisienne Chair STOREWIDE DISCOUNTS IjM ttllj ®.dvsseyiTable/ (•hai Mya Widest Selection Of Italian Dining Sets. Convoy Table/ KWiTable7i Jam Chair wiehushair caUigons O XZQT XZQT ION Tel:6238 8233 2 Orchard102 words
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Page 4 Advertisements
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Advertisement26 2012-07-21 4 Ardmore Park 4-BEDROOM+BALCONY 2,885 SQJT Facing BukitTimah Hill rare. Choice unit $9.2m VACANT POSSESSION Sole Agent Rudy Tedja 9686 9943 CEA Reg No. R*****0I savills L*****87F26 words
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Page 5 Advertisements
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Advertisement578 2012-07-21 5 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS TENOR APPROXIMATELY 2 YEARS (NON-BENCHMARK) TOTAL AMOUNT OFFERED SGD 2,100,000,000 MINIMUM DENOMINATION SGD 1,000 MAS' INTENDED TENDER AMOUNT** NIL ISSUE CODE N*****0S (REOPENED) ISIN CODE SG7P*****175 ISSUE DATE/SETTLEMENT DATE 01 AUGUST 2012 MATURITY DATE* 01 JULY 2015 COUPON578 words
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Page 7 Advertisements
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Advertisement149 2012-07-21 7 PLEASURES “I enjoy more rewards and benef its by paying my subscr i pt ion direct l y t o SP H.” “Subscr i bing t o Straits Times (S T Pr int «K O n l ine and Mobile packages br ings me wonder ful gifts.” Sure-GetGiftswithanySubscriptionPackage Allsubscribersstandtowinoneof3 OTOCyberWaveMassageChairsworth$5,380each!149 words
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WEEK IN REVIEW
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THIS WEEK July 16-20, 2012
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58 2012-07-21 9 A MAJOR shareholder change may be brewing at conglomerate Fraser and Neave and its unit Asia Pacific Breweries, the maker of Tiger Beer. OCBC Bank and its insurance subsidiary Great Eastern Holdings (GEH) said last night that they have been approached to58 words
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62 2012-07-21 9 THE momentum may have slowed in June, but developers have sold many more private homes in the first half of 2012 than they did last year. June’s volume is down 19.5 per cent month on month. but the six-month total comes to62 words
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45 2012-07-21 9 THE International Monetary Fund warned on Monday that there is a danger that potential growth in emerging economies could turn out to be lower than expected and that a “hard landing” in China cannot be ruled out.45 words
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67 2012-07-21 9 SHARES in Fraser and Neave and its unit Asia Pacific Breweries surged yesterday, with Thai parties emerging as the potential buyers of stakes worth over $2.8 billion in these two companies. Bloomberg, citing sources, said that TCC Group offered to purchase 18.267 words
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42 2012-07-21 9 SURPRISINGLY strong headline trade figures for June did little to quash talk of a technical recession, as exports’ underlying trend bore out the slowdown flagged in last week’s disappointing flash estimate of Q2 GDP.42 words
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62 2012-07-21 9 A DAMNING 335-page US Senate report has castigated HSBC for failing to institute adequate controls and compliance against money laundering between 2004 and 2010. The report, which used HSBC as a case study for alleged anti-money laundering violations, also had scathing criticism of62 words
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52 2012-07-21 9 THE Monetary Authority of Singapore is examining the setting of key interest rate benchmarks by banks here. It said this on Wednesday, as the scandal surrounding the fixing of the London interbank offered rate triggers more interest rate reviews around52 words
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63 2012-07-21 9 THE OCBC Group’s long-held stake in Fraser and Neave and its unit Asia Pacific Breweries is finally changing hands to the tune of more than $3.2 billion, but the emergence of new Thai owners could spark a turf war with established Dutch brewer63 words
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Article, Illustration87 2012-07-21 9 INDONESIA will cap ownership of its banks at 40 per cent for bank investors, but majority ownership will be allowed in some cases, its central bank said on Thursday. Those exceptions could signal eventual approval for DBS Group’s $9.1 billion bidAFP - 87 words
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49 2012-07-21 9 THE Singapore Exchange is sprucing up its image. In a move aimed at laying to rest criticisms about the quality of the local market, SGX is raising the admission criteria for the mainboard for the first time in more than a decade.49 words
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58 2012-07-21 9 A RULE change has been implemented that will make it easier for listed companies in Singapore doing business in China to achieve dividend tax savings. In particular, in-vestment-holding companies will now find it easier to qualify for a reduction in dividend-withholding tax58 words
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Article77 2012-07-21 9 US DATA July 25 June new home sales July 26 June durable orders July 27 Q2 GDP July Michigan sentiment SINGAPORE DATA July 23 H1 Consumer Price Index July 26 June index of ind’l production June 27 June producer and int’l trade price indices Q277 words
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Page 9 Miscellaneous
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Miscellaneous368 2012-07-21 9 CRYPTIC CROSSWORD Across 1 Farmhouse in grand set of mountains (6) 4 Woman and bachelor taken in by tiny fantasist (8) 9 Sounds like place for driver to obtain drinks holder? (3,3) 10 Commotion in endless fight around river by sunken ditch (8) 11 Fine facing a London college linked368 words
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Miscellaneous6 2012-07-21 9 SATURDAY with Ludwig Quick Administer CPR6 words
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THE RAFFLES CONVERSATION
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Article, Illustration2427 2012-07-21 10 / 11 Vikram Khanna - Ruchir Sharma talks to Vikram Khanna about why a lot of the euphoria about “emerging markets” is misplaced Vikram Khanna vikram@sph.com.sg THE first photograph that appears in Ruchir Sharma’s new book Breakout Nations is a black-and-white shot of a forest, probably taken from an aircraft. Beneath the thick2,427 words
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COMPANY NEWS
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Article, Illustration724 2012-07-21 12 Kenneth Lim - SGX CEO’s M&A history, failed ASX deal fuel repeated speculation about acquisitions By Kenneth Lim kenlim@sph.com.sg Singapore ANOTHER month, another rumour about the Singapore Exchange (SGX) hooking up with another bourse in a merger and acquisition deal. The other party this time isBLOOMBERG - 724 words
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341 2012-07-21 12 Teo Si Jia - By Teo Si Jia teosj@sph.com.sg Singapore THE initial public offering (IPO) of JB Foods, a major cocoa ingredient producer in Malaysia, is 5.1 times subscribed. Of the 100 million shares on offer at 30 cents apiece, three million were for public subscription and 97341 words
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251 2012-07-21 12 Michelle Tan - By Michelle Tan michtyz@sph.com.sg Singapore FAR EAST Reit, which owns hotels and serviced residences in Singapore, has started pre-mar-keting of an initial public offering of up to $700 million, potentially making it one of the largest deals in the region this year,251 words
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Article, Illustration1033 2012-07-21 14 Kalpana Rashiwala - Trust manager’s Q2 DPU rises 7.3 per cent to 2.06 cents, giving unitholders DPU of 3.96 cents for H1 By Kalpana Rashiwala kalpana@sph.com.sg Singapore CAPITACOMMERCIAL Trust (CCT), which owns several CBD office properties, is open to venturing into Singapore’s decentralised areas if itARTHUR LEE - 1,033 words
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312 2012-07-21 14 Jasming Ng - By Jasming Ng jasng@sph.com.sg Singapore FORTUNE Real Estate Investment Trust (Fortune Reit) saw its distribution per unit (DPU) for the second quarter rise 32.5 per cent year on year from 6.07 HK cents to 8.04 HK cents. This was achieved on the back of312 words
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Article, Illustration927 2012-07-21 15 Ven Sreenivasan - STOCKS Ven Sreenivasan ven@sph.com.sg Senior Correspondent DESPITE concerns over the impact of the economic slowdown in China, the eurozone debt crisis and the anaemic economic growth in the United States, sentiment on the Singapore market remained relatively robust. The Straits Times Index927 words
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Business briefing
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Article158 2012-07-21 15 NEXT-GENERATION Satellite Communications, which earlier this month reported a major discrepancy in funds that it had deposited with a Hong Kong finance company, said yesterday that it has not received the remaining $1 million of the $2 million it was due to receive last158 words
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91 2012-07-21 15 HO Bee Investment said its wholly owned subsidiary, HB Australia Pty Ltd, has entered into contracts to secure two prime residential sites for a total consideration of A$30 million in Gold Coast, Australia. The first property is located at Surfers Paradise91 words
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Article59 2012-07-21 15 JAYA Holdings’ wholly owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd, has inked a collaboration agree- ment with IHC Merwede Asia Pacific, enabling IHC’s high specification offshore vessels to be produced by Jaya at its yards in Singapore and Batam, Indonesia. IHC Merwede will59 words
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Article57 2012-07-21 15 HEALTHCARE providerAsiaMedic Limited has signed a memorandum of understanding (MOU) with Ni Ni Diagnostics and Healthcare to explore the possible establishment of a joint venture in Myanmar. AsiaMedic and the Myanmar healthcare company will look into the feasibility of setting up and operating an advanced imaging57 words
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Article78 2012-07-21 15 OKP Holdings said its net earnings for the fiscal second quarter decreased 55.2 per cent to $3.09 million from $6.89 million a year ago. Turnover fell 16.7 per cent to $23.58 million from $28.3 million. Earnings per share were 1.01 cents, down from 2.4378 words
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Article76 2012-07-21 15 ANCHUN International Holdings said it expects to incur a loss for the second quarter 2012. “In line with the slowdown of the PRC economy, the group’s order book has also slowed down. This coupled with the increase in operating expenses such as research and development76 words
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Page 13 Advertisements
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Advertisement861 2012-07-21 13 IR food/ JB FOODS LIMITED (Incorporated in the Republic of Singapore on 3 January 2012) (Company Registration No. *****0268D) Invitation in respect of 100,000,000 Shares comprising 84,000,000 New Shares and 16,000,000 Vendor Shares as follows: (a) 3,000,000 Offer Shares at S$0.30 each by way of public offer; and (b) 97,000,000861 words
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FROM THE DESK OF
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Article, Illustration1135 2012-07-21 16 François Lançon - With the explosion of consumer technology, IT decision-making is decentralising away from the CIO, and accelerating towards the end-user. FROM THE DESK OF François Lançon President, Asia Pacific, Avaya IT departments have traditionally presided over a technocracy within the corporate hierarchy sometimes1,135 words
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SINGAPORE NEWS
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519 2012-07-21 17 Lynn Kan - SRC technicians will get 3% increase in maximum salaries, 5% service increment and $1 5, upping their pay by 4.5% By Lynn Kan lynnkan@sph.com.sg THE Industrial Arbitration Court (IAC) has ruled in favour of the Singapore Refinery Company (SRC) in an519 words
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Article, Illustration434 2012-07-21 17 Siow Li Sen - By Siow Li Sen lisen@sph.com.sg STRONG Asian financial markets will support the region’s growth and prosperity as global banks focus on key markets, said a Monetary Authority of Singapore (MAS) senior official yesterday. Global regulatory reform is reshaping the financial industry and to434 words
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Article, Illustration231 2012-07-21 17 Mindy Tan - By Mindy Tan ta n m i n dy@s p h .co m .sg A $6.5-million Advanced Biofilm Imaging Facility has been set up to boost used water treatment and environmental life sciences engineering research in Singapore. The facility at Nanyang Technological University231 words
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505 2012-07-21 18 Ronnie Lim - Drop is due to higher volumes, improved sourcing, reduced silicon consumption and other efficiency gains By Ronnie Lim ronnie@sph.com.sg AMID global overcapacity and plunging prices, Renewable Energy Corporation’s (REC) flagship $2.5 billion Singapore plant continued operating at full steam last quarter. Perhaps more505 words
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Article, Illustration582 2012-07-21 18 Wang Xin Min - By Wang Xin Min wangxin@sph.com.sg THE old adage that “the customer always comes first” is incomplete, says Tony Cousens, general manager of the Days and Ramada Hotels Singapore. Rather, he believes building strong relationships with one’s staff is just as important as serving one’s582 words
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Page 18 Advertisements
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Advertisement17 2012-07-21 18 DOWNLOAD THE NEW 91.BFM ANDROID AFP NOW! FACEBOOK.COM/NINETVONETHREE FOLLOW US ON TWITTER SRADIO_313 LOG ON TO WWW.RADI031B.COM17 words
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WORLD
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Article, Illustration573 2012-07-21 19 Citigroup, HSBC, Deutsche Bank, JPMorgan Chase among dozen being investigated Reuters Zurich A GROUP of banks being investigated in an interest rate rigging scandal are looking to pursue a group settlement with regulators rather than face a Barclays-style backlash by going it alone,Reuters; AFP - 573 words
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421 2012-07-21 19 Bloomberg Kuala Lumpur MALAYSIAN banks plan to tighten rules for the local interbank lending market amid a global probe into manipulation of benchmark borrowing costs that led to a record fine for Barclays last month. The 12 banks whose estimates are used toBloomberg - 421 words
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Briefing
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Article92 2012-07-21 19 Reuters New York GENERAL Electric reported secondquarter profit slightly above expectations yesterday, offsetting weaker-than-fore-cast revenue growth, and said that it was finding ways to grow despite a hazy economic outlook. The largest US conglomerate as measured by revenues did not change its full-year profit forecastReuters - 92 words
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103 2012-07-21 19 Reuters London FIRST-HALF profit halved at De Beers, the world’s largest diamond producer by value, as trade buyers were held back by a lack of funds and worries over consumer demand. De Beers said first-half profit before finance charges and taxation dropped toReuters - 103 words
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87 2012-07-21 19 AFP San Francisco GOOGLE reported a surge in quarterly profit to US$2.79 billion on the back of rising online advertising revenue, beating Wall Street expectations. The Califor-nia-based online search titan’s secondquarter profit rose 11 per cent for the three months ended June 30AFP - 87 words
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127 2012-07-21 19 Reuters AFP Brussels EUROZONE finance ministers yesterday approved an agreement to lend up to 100 billion euros (S$152.9 billion) to Spain so that it can recapitalise its banks, but the exact size of the loan will probably only be determined in September. InReuters; AFP - 127 words
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724 2012-07-21 20 Net income has declined from a year earlier for more than half of 760 listed Chinese companies to report results Bloom berg Beijing PROFIT declines for hundreds of Chinese companies in the first half may increase pressure on the government to reduce corporate taxesBloomberg - 724 words
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Article, Illustration338 2012-07-21 20 Bloomberg Beijing APPLE Inc began selling the latest version of its iPad tablet computer in China, seeking to build on gains in a market that contributed 20 per cent of its revenue. Apple opened its stores here and inBloomberg; AFP - 338 words
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327 2012-07-21 20 Reuters Beijing/Hong Kong CHINA will open investigations into imported US and South Korean solar-grade polysilicon, the country’s trade ministry said yesterday, in the latest instance of growing tensions between major solar manufacturers. The Ministry of Commerce said that it would openReuters - 327 words
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509 2012-07-21 21 China’s short-term lending rates continue rising amid lingering money market squeeze Reuters Shanghai EXPECTATIONS that the Chinese central bank will cut banks’ reserve requirement ratios (RRR) strengthened greatly yesterday as China’s short-term lending rates continued rising amid a lingering money market squeeze. Most tradersReuters - 509 words
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Article, Illustration377 2012-07-21 21 Bloomberg Singapore CHINESE stocks are cheap and the economy is poised to recover, making it a “dangerous” strategy on the part of some investors to bet on further declines in equities, said Herald Van Der Linde, head of Asia-Pacific equity strategy at HSBCBloomberg; AP - 377 words
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471 2012-07-21 21 Reuters Beijing IMPOVERISHED North Korea is gearing up to experiment with agricultural and economic reforms after young leader Kim Jong Un and his powerful uncle purged the country’s top general for opposing change, a source with ties to both Pyongyang and Beijing said.Reuters - 471 words
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Article582 2012-07-21 22 They are taking advantage of low US dollar borrowing costs Bloomberg New Delhi INDIA’S billionaires are taking advantage of the lowest US dollar borrowing costs in a year to expand in Africa’s booming commodities and telephone markets. Venugopal Dhoot’s Videocon Industries Ltd is seeking US$1.4 billionBloomberg - 582 words
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Page 22 Advertisements
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Advertisement517 2012-07-21 22 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 Register at www.stjobs.sg/seminars FULL-DAY WORKSHOPS FULL-DAY SEMINAR Critical Thinking Sun Tzu’s Art of War Style517 words
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Article8024 2012-07-21 23 Transaction date: Jul 20 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15.5 11.5 8Telecom 11.9 -0.4 1 11.9 11.9 11.9 18 66.8 0.4 2.9 57 7 3.5 A-Sonic 4.2 +0.2 15 4.2 48,024 words
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Article1726 2012-07-21 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 26 12.1 t 800 Super 18.3 unch 90 18.3 18.2 18.2 18.5 4.7 3 7.1 32.7 4 2.5 t AA Grp 3.6 2.8 3.9 3.51,726 words
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Article186 2012-07-21 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 10 1 0 0 0 5 10 1 Manufacturing 33 54 53 2 6 12 35 60 65 Commerce 16 22 20 2 5 2 18 27 22 Tpt/Stor/Comms 7 21 11186 words
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744 2012-07-21 26 For week beginning Jul 16 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) C&G Env Protect 19-Jul-12 C&G Hldgs (HK) Ltd Buy 630 na *****1 71.42 *****1 72.06 C&G Env744 words
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Article123 2012-07-21 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,058 15,058 78,236 78,236 Manufacturing 333,543 34,517 368,060 181,563 1,397 182,960 Commerce 229,781 6,186 235,967 91,622 383 92,005 Tpt/Stor/Comms 73,632 12,664 86,296 139,578 3,565 143,143 Finance 24,497 2,744 27,241 194,927 1,120 196,048 Construction 55,943 7,775123 words
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MARKETS
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Article80 2012-07-21 27 Jul 19 COCOA (£/tonne) Close Prev High/Low Sep 12 1532 1501 1556/1500 Dec 12 1520 1499 1543/1509 Mar 13 1505 1493 1525/1490 May 13 1504 1497 1521/1498 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2168 2110 2168/2168 Sep 12 2192 2111 2195/2112 Nov 12 2171 2096 2172/2098 Jan 13 213180 words
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Article69 2012-07-21 27 Jul 20 GOLD(US$/oz) Jul 20 Jul 19 Hong Kong 1593.20 1588.00 Hong Kong Jul 19 Jul 18 London 1587.96 1579.00 1588.73 1579.80 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 34.57 33.91 Source: UOB PLATINUM/ Lon (US$/oz) Jul 19 Close Previous PM Fix 1415.00 1405.00 AM Fix 1413.0069 words
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Article60 2012-07-21 27 Jul 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 3029.0 3025.0 3033.0 3005.0 608 5854 Sep 12 3043.0 3040.0 3053.0 3025.0 3799 ***** Oct 12 3043.0 3045.0 3065.0 3034.0 ***** ***** Nov 12 3048.0 3054.060 words
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Article82 2012-07-21 27 Jul 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 18-Oct-12 0.24 6-Month BS*****F 10-Jan-13 0.24 1-Year BY*****T 02-May-13 0.24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.12 5-Year N*****0Z 2.375 01-Apr-17 109.1582 words
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Article154 2012-07-21 27 Jul 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3064 1.3071 1.0413 1.0416 Canadian dollar 1.2446 1.2451 0.9922 0.9921 Euro 1.5379 1.5389 1.2258 1.2263 NZ dollar 1.0068 1.0073 0.8025 0.8027 Sterling pound 1.9683 1.9692 1.5689 1.5692154 words
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Article, Illustration159 2012-07-21 27 As on 19 July 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1590.90 1576.20 1584.10 862 INDIA GOLD (E-GOLD) FUT AUG2012 531.45 526.95 528.20 1443 GOLD FUT OCT2012 1593.10 1584.70 1582.50 33 CURRENCY EUR-USD FUT SEP2012 1.2333 1.2239 1.2277 2873159 words
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Article103 2012-07-21 27 Jul 19 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 12 1733.75 1683.50 1749.00 1677.50 Sep 12 1691.25 1648.00 1707.75 1641.00 Nov 12 1652.25 1620.00 1673.75 1613.50 Jan 13 1634 1611.25 1663.25 1607.25 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Aug 12 54.40 54.01 54.70 53.81103 words
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Article68 2012-07-21 27 Jul 19 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 107.53 2.25 WTI (Near Mth) 92.46 2.62 Dubai (1-Mth F) 102.60 1.97 Tapis blend 109.51 2.47 Minas 110.11 2.47 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 96.00 1.33 Jet Kerosene 121.81 2.48 US$/barrel OpecOil Basket Price 103.7168 words
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Article118 2012-07-21 27 Jul 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.335 1.272 Can dollar 1.273 1.213 Euro 1.573 1.499 Sterling pound 2.007 1.930 NZ dollar 1.035 0.986 US dollar 1.274 1.225 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article69 2012-07-21 27 Jul 19 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1925.00 1882.50 3 months 1944.00 1909.00 Copper, Grade A (US$/tonne) Cash 7734.00 7638.25 3 months 7730.00 7637.00 Lead (US$/tonne) Cash 1922.75 1901.00 3 months 1929.50 1910.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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373 2012-07-21 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 19 Index Change Change Change Change Change Change World Preliminary 882.3 0.6 6.3 0.3 2.1 0.7 5.5 EAFE Preliminary 706.9 1.0 3.6 0.9 -1.8 1.2 1.6 Europe Preliminary 1062.7 0.8 3.5373 words
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Article, Illustration106 2012-07-21 27 Straits Times Index YTD change:+13.95% 52-week high: 3,227.28 on Aug 1,2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg Hang Seng Index YTD change: +6.54% 52-week high: 22,808.33 on Aug 1,2011 52-week low: 16,170.35 on Oct 4,2011 Source: Bloomberg Dow Jones Industrial Average YTD change: +5.94% 52-week high:Source: Bloomberg - 106 words
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PERSPECTIVE
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Article, Illustration1225 2012-07-21 28 / 29 Leon Hadar - The shipping of jobs abroad has taken centrestage in the US presidential election, but the candidates seem to forget that international trade is not a zero-sum game Leon Hadar Washington correspondent btworld@sph.com.sg SO it’s about outsourcing. Indeed, the proverbial Man from Mars landing in Washington, DC, thisAFP - 1,225 words
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967 2012-07-21 28 / 29 Chris Jordan - By Chris Jordan ~The writer is senior vice-president (golf) of World Sport Group (WSG). He manages the group’s roster of some of the region’s leading golf events. IF you believe that sport can be a metaphor for life’s broader challenges and opportunities, then the first967 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1032 2012-07-21 30 / 31 Genevieve Cua - Investors with a long-term view can take advantage of distortions in markets created by interest in alternative investments. By Genevieve Cua By Genevieve Cua gen@sph.com.sg ‘FINANCIAL repression” the predicament of no-risk, nore t urn i s helping to perk up interest in alternative investments, particularly strategiesFILE PHOTO - 1,032 words
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Article800 2012-07-21 30 / 31 Lynn Kan - Compiled by Lynn Kan Frasers Centrepoint Trust BUY DMG Partners Research July 19 July 20 close: S$1.76 Frasers Centrepoint Trust (FCT) reported a Q3 FY12 distribution per unit (DPU) of 2.60 cents (up 33.3 per cent y-o-y). Together with H1 2012 DPU of 4.70 cents, the three quarters800 words
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Article, Illustration1562 2012-07-21 32 Slower inflation, weaker economic growth will prompt policymakers to cut interest rates, spurring gains in bonds Bloomberg New York BOND yields in emerging markets are falling to record lows as inflation tumbles compared with benchmark interest rates, providing policymakers with more opportunities to lower borrowingBloomberg; BLOOMBERG - 1,562 words
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Article, Illustration1085 2012-07-21 33 S&P 500 average dividend yield is 2.5% compared with the yield on 1 0-year US Treasury bonds of 1 .45% Bloomberg New York THE US Federal Reserve’s long-term policy of “zero interest rates” has prompted some investment advisers to rethink what allocationsBloomberg; BLOOMBERG - 1,085 words
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WEALTH REAL ESTATE
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Article977 2012-07-21 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JUNE 20 AND JUNE 26, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Clift Apt 26/06/2012 99 1076 2866 2663 District 2 NON-LANDED Skysuites Anson Apt 22/06/2012977 words
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Article, Illustration602 2012-07-21 35 Tide appears to have turned against stocks and bonds of developers over the past week Reuters Hong Kong THIS year’s rally in stocks and bonds of mainland Chinese real estate developers looks set to peter out, analysts say, as valuations have becomeReuters; REUTERS - 602 words
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263 2012-07-21 35 Reu ters Beijing LOCAL Chinese governments should not relax property purchase restrictions implemented by Beijing, the central government said late on Thursday, underlining official concerns about renewed inflationary pressures even as the broader economy slows. The reminder that China should stick to itsReuters - 263 words
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228 2012-07-21 35 Reuters Chicago ONE of Chicago’s historic Michigan Avenue buildings has been purchased by the son of late Hyatt Hotels Corp founder Jay Pritzker and an investment company, a spokesman for the investment firm AJ Capital Partners said on Thursday. JohnReuters - 228 words
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Page 36 Advertisements
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Advertisement161 2012-07-21 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. CLASSICAL PURITY IS THE DEFINING AESTHETIC OF THE JULES AUDEMARS COLLECTION. FOR CENTURIES THE ARTISAN HAS KNOWN THAT IT IS EASIER TO ADD THAN TO SUBTRACT. HERE HOWEVER THE MASTERY OF THE ESSENTIAL HAS PRODUCED A WATCH OF RARE PRESENCE AND161 words
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Advertisement61 2012-07-21 1 DINING Wine on tap L5-6 HOME GARDEN Screen presence L8-9 LivingBTTHE BUSINESS TIMES WEEKEND JULY 21-22 2012 SHOPPING Not in malls L10-11 BRICKS TO BISTROS Three property companies share how and why they’ve diversified into the food business L2-4 GADGETS Upsize downsize L14 SPRUCE FIRE STATION PHOTO BY YEN MENG61 words
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BT Living
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DINING
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Article, Illustration2728 2012-07-21 2 / 3 Debbie Yong - What do the food and property businesses have in common? Not much, it seemed, until three local property firms made it appear like an easy marriage. They speak to Debbie Yong about their diversification. Debbie Yong debyong@sph.com.sg LHN Culinary Concepts Owns: Spruce@Firestation, Spruce at Phoenix Park, AlkaffYEN MENG JIIN - 2,728 words
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Article, Illustration1541 2012-07-21 5 Christopher Lim - Mechanical wine dispensing systems that keep wine fresh have been around for some time and give diners interesting if not perfect options for wine by the glass. By Christopher Lim By Christopher Lim YOU go out to dinner and you want some wine. But what and how1,541 words
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DESIGN
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Article, Illustration679 2012-07-21 7 Debbie Yong - The 69-year-old Swedish furniture maker looks through 60 years of past catalogues and product archives for its latest PS Range. By Debbie Yong By Debbie Yong debyong@sph.com.sg IKEA has always posed a bit of a conundrum for vintage furniture-lov-ing hipsters. On the one hand, its clean, modernPHOTOS: IKEA - 679 words
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HOME & GARDEN
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Article, Illustration1142 2012-07-21 8 / 9 Geoffrey Eu - Cable news anchor Martin Soong’s prized collection of Japanese screens create a sense of scale in a compact space, where access and openness rule. By Geoffrey Eu personal space By Geoffrey Eu btnews@sph.com.sg AS someone who once lived in a shoebox-sized apartment in Hong Kong par for thePHOTOS BY YEN MENG JIIN - 1,142 words
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SHOPPING
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Article, Illustration1621 2012-07-21 10 / 11 Tay Suan Chiang - Home decor stores find bigger and better spaces far from the madding crowd. By Tay Suan Chiang taysc@sph.com.sg SHOPPING for furniture used to be a straightforward affair. Regardless of whether homeowners preferred the country, contemporary, minimalist or gilded look for their abodes, a trip to Park Mall,PHOTOS: (GRAFUNKT) YEN MENG JIIN; PHOTOS: (EGG3) YEN MENG JIIN; YEN MENG JIIN - 1,621 words
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TRAVEL
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Article, Illustration1097 2012-07-21 13 Mishal Husain - So you’ve decided to defy common sense and head out to London in the thick of the Olympic Games. Mishal Husain offers a sensible guide to getting out and about without feeling like you just ran a marathon Mishal Husain ~The writer is a presenterREUTERS - 1,097 words
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GADGETS
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Article, Illustration535 2012-07-21 14 Christopher Lim - Shoppers eager for brawn and screen real estate from ultrabooks should check out the latest models as long as weight isn’t an issue. By Christopher Lim By Christopher Lim limchris@sph.com.sg Lenovo IdeaPad U410, $1,299 Colour options are sore- ly lacking in the ultrabook market, which is where535 words
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HEALTH
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Article, Illustration1059 2012-07-21 15 Michael Lim - Excess consumption of sweeteners over a prolonged period could be detrimental to health. By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia (a journal of the British Medical Journal Publishing Group); chairman, scientificPHOTOS: AP - 1,059 words
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SPORTS
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Article, Illustration652 2012-07-21 16 Lee U-Wen - Coverage of 3,200 hours on mio TV and 2,200 hours on YouTube will help fans keep up with the action no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent I’M so stoked about the upcoming London Olympic Games that I’m practically counting down the days no,REUTERS - 652 words
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Article, Illustration654 2012-07-21 16 jason de la pena - finish line with jason de la pena ~Jason de la Pena is a presenter on ESPN SportsCenter every weekday at 7.30pm. Catch London 2012 action on ESPN STAR Sports and cheer for your national athletes on ‘My Country, My Cheer’ at www.facebook.com/espnstarsportsREUTERS - 654 words
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GOLF
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Article, Illustration1042 2012-07-21 17 Justine Moss - More golfers are drawn by the appeal of playing somewhere much more remote. By Justine Moss btnews@sph.com.sg WHEN planning a golf excursion overseas, golfers are likely to choose a destination that is either familiar or easily accessible, with good accommodation and a full range of facilities.PHOTOS: CABOT LINKS, BANDON DUNES GOLF RESORT - 1,042 words
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MOTORING
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Article, Illustration559 2012-07-21 18 Samuel Ee - The BMW M6 Convertible is a good combination of capabilities and comfort. By Samuel Ee samuelee@sph.com.sg LIKE the way the BMW M5 drives but not too keen on a staid sedan bodystyle? Not to worry. A pair of twodoor alternatives are now available the M6 Coupe and the559 words
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Article, Illustration531 2012-07-21 19 Samuel Ee - Michelin says its Pilot Super Sport is the world’s fastest street tyre on the racetrack. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE BMW M6 Convertible is supplied with only Michelin Pilot Super Sport ultra-high performance rubber. The French manufacturer claims that the Pilot Super Sport531 words
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Article, Illustration566 2012-07-21 20 Samuel Ee - Iconic Nurburgring circuit in 13m euro of debt but Ecclestone rides to rescue. By Samuel Ee f1 watch By Samuel Ee samuelee@sph.com.sg AS THE only two drivers who have won more than one race so far this season, Ferrari’s Fernando Alonso and Red Bull Racing’sPHOTOS: AP, REUTERS - 566 words
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Advertisement25 2012-07-21 4 HOME NEEDS Beat the heat with new air-conditioners. To find out more, turn to CLASS 90 in CATS Classified in The Straits Times now. WATS25 words
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Advertisement1133 2012-07-21 12 wine&dine with BTWeekend Chatterbox Chatterbox was the talk of the town since Mandarin Orchard Singapore commenced its operations in 1971. Featuring a spread of local heritage cuisines, Chatterbox was the first hotel restaurant that made local food famous both locally and worldwide. Feast on the legendary Mandarin Chicken Rice, which1,133 words
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