The Business Times, 26 July 2012

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Microfilm: NL32075
Total Pages: 33
1 34 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfSl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Thursday, July 26, 2012
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  • Article
    Lock icon Growth could dip below 1% this year
    1015 1  -  MAS flags risk of anaemic growth, even as it continues to battle inflation By SIOW LI SEN [SINGAPORE] If global conditions deteriorate significantly, Singapore could be hit with a double whammy of growth slipping below 1 per cent coupled with high inflation as
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 2,990.92 (-7.52) HST INDEX FUTURES 2,990 (-5) HSIMSCI 344.95 (-1.23) HSIMSCI FUTURES 344.60 (-1.20) us$ s$ US$ (S$ per US$) 1.261 (US$/S$ per 1.553 1.957 EURO (US$/S$/E) 1.209 1.525 Foreign currency per US$ S$ YEN 78.20 62.00 RM 3.181 2.523 HK$ 7.758 6.153 BAHT 31.75 25.18 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Wednesday Change KL COMP 1,635.09 +2.52 NIKKEI 225 8,365.90 -122.19 HANG SENG 18,877.33 -25.87 SET INDEX 1,188.62 +0.98 JAKARTA COMP 4,000.84 +8.73 MANILA COMP 5,161.80 +2.06 SEOUL COMP 1,769.31 -24.62 SHENZHEN B 585.27 -25.75 MUMBAI IND 16,846.05 -72.03 12noon EDT Change DOW 12,655.96 +38.64 NASDAQ 2,853.77 -9.22
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    • Article
      Lock icon PRIME RATES
      19 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.202 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg Source: Bloomberg
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  • Article, Illustration
    Lock icon Could OCBC have done better for its shareholders?
    733 1  -  Others may have paid more than the Thai offer COMMENTARY By VEN SREENIVASAN [SINGAPORE] For the better part of the past week, the market has been gripped by the fast-developing events surrounding the takeover battle for one of Asia’s biggest beermakers. And
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      133 1 IHH DEBUT Smiles all around as IHH makes a healthy start PAGE 6 COMPANIES SGX, ASX offer fast connectivity to each other PAGE 9 COMMENTARY CFOs do more than just add the numbers PAGE 24 PROPERTY Site for GCBs, two other properties up for grabs PAGE 33 Allianz Global Investors
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      370 2 Growth could dip below 1 this year IF global conditions deteriorate significantly, Singapore could be hit with a double whammy of growth slipping below one per cent coupled with high inflation as costs remain elevated, said the Monetary Authority of Singapore. FRONT PAGE Steep fall in US new
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    • Article, Illustration
      Lock icon Ex-City Harvest finance director charged in court
      628 2  -  Wee charged with 6 counts of criminal breach of trust, 4 of falsifying accounts By JAMIE LEE [SINGAPORE] Another key figure behind the alleged siphoning of millions of dollars of church funds at City Harvest Church was slapped with 10 criminal charges yesterday.
      628 words
    • Article
      Lock icon Fall in new home sales steepest since Feb 2011
      448 2 LATEST US DATA AP [WASHINGTON] Americans bought fewer new homes in June after sales jumped to a two-year high in May. The steep decline suggests a weaker job market and slower growth could make the housing recovery uneven. The Commerce Department
      AP  -  448 words
    • Article, Illustration
      Lock icon APB shares jump to $52, top Heineken’s offer price
      759 4  -  F&N shares hit new high amid mounting speculation of fierce battle for APB By EMILYN YAP [SINGAPORE] Asia Pacific Breweries’ (APB) share price surged to $52 yesterday while Fraser and Neave’s (F&N) reached a new high, as speculation of a fierce
      Source: Bloomberg, Heineken  -  759 words
    • Article
      Lock icon Govt extends Public Service Broadcast programme funds, reach
      760 4  -  By VICTORIA HO [SINGAPORE] Pay TV providers will be getting a chance to challenge MediaCorp’s dominant position as a public service broadcaster. The government is increasing funding allocated to Public Service Broadcast (PSB) programmes by about 35 per cent and opening up
      760 words
    • Article, Illustration
      Lock icon Anticipation takes bite out of Apple results
      391 4  -  REUTERS BREAKINGVIEWS By ROBERT CYRAN [NEW YORK] Call it Apple anticipation. Unexpectedly sub-stellar quarterly earnings yesterday evening knocked nearly US$30 billion off the company’s market value, which of late has approached a staggering US$600 billion. Apple’s success has become a kind of burden.
      391 words
    • Article, Illustration
      Lock icon Sentosa condos sold to Aussie buyer for $57m
      549 4  -  By KALPANA RASHIWALA [SINGAPORE] SC Global Developments is said to be selling another two units at its luxurious Seven Palms Sentosa Cove condominium project for a total of about $57.2 million. And the buyer is understood to be a company linked to
      549 words
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      154 2 m i|m i|r// 7//// W'\ wv y// i B V LG A R CALIBRO 303 mli A a@ O v O N N V A V I f 'f/ v\N^ ££>/// uUy imin mi PUI B V LG A R I w a in. V N i m B V
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      213 3 www.vw.com.sg v m t O v Passat X X' 5s, X v \\V NS N K m i fmmm m y The Passat, now with Park Assist. Only $169,800. This beautifully designed, German-engineered sedan has all the features you’d expect from a car of its class, and a few you
      213 words
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      210 4 %tu <vi; ,V: l.J nJ ns JV ?a*Y, £*v "juOi aci BARTLEY BIZ CENTRE The Centre For The Biz Leader... TXT BARTLEY BIZ CENTRE M The Centre For The Biz Leader... B2-zoning Terrace Factories Prime Kaki Bukit Ancillary Domitory-ready Column-free layout Loading/unloading at doorstep Size from 1 ZOOsqft 5300sqft Showroom
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      Lock icon Page 4 Advertisements Column 2
      12 4 Call 1800 289 8822 or -mail notices@sph.com.sg to place your Apology Notices
      12 words
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      Lock icon Page 5 Advertisements Column 1
      214 5 The all-new BMW 6 Series Gran Coupe Sheer Driving Pleasure pml-bmw.com.sg r ZkSk mm I i y 'l-yr: II ill m WN 6 Series Gran Coupe f*K <95 <» jgW- tiS, i 5j. &Ek%\ .".r -V c t-- -*r*v i '-T&W.v* i S *y4' v -:v .Vsr; r v 'V
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Smiles all around as IHH makes a healthy start
      596 6  -  Trading debut sees profit taking on KPJ, M’sia’s other listed hospital operator IHH DEBUT By PAULINE NG in Kuala Lumpur HOSPITAL operator IHH Healthcare opened nearly 10 per cent higher on its debut on the Malaysia and Singapore stock exchanges yesterday,
      AP  -  596 words
    • Article
      Lock icon IHH ends 10% higher in heavy trade
      465 6  -  By NISHA RAMCHANDANI SHARES in Asia’s biggest hospital operator IHH Healthcare hit a day high of $1.245, up nearly 12 per cent, as it made its trading debut on the Singapore Exchange (SGX) yesterday. At the opening bell, the dual-listed IHH traded at
      465 words
    • Article
      Lock icon Mapletree Commercial Trust Q1 DPU 20.6% above forecast
      373 6  -  By TEH SHI NING MAPLETREE Commercial Trust (MCT) delivered distributable income of $28.7 million for the first quarter ended June 30, up 15.6 per cent from pro-forma distributable income for the same period a year back. This meant that MCT achieved a
      373 words
    • Article, Illustration
      Lock icon SIA springs surprise 73% jump in Q1 profit
      611 6  -  Passenger carriage, fuel price among boosting factors Reports by VEN SREENIVASAN SINGAPORE Airlines has developed a habit of confounding the sceptics, and it did so again with its first-quarter results. While most analysts were expecting a slight rise in earnings to around
      AFP  -  611 words
    • Article
      Lock icon SATS Q1 earnings dip on labour, material costs
      379 6 RISING labour and material costs weighed heavily on SATS Ltd’s first-quarter profit, with the ground-handling giant posting a 2.8 per cent slide to $41.3 million in earnings attributable to shareholders. Revenue was up 13.6 per cent at $437.9 million over the same
      379 words
    • Article, Illustration
      Lock icon Aussino surges on RTO deal with Myanmar group
      537 6  -  By ANDREA SOH SHARES of Aussino Group surged as much as 15 per cent after it announced a definitive agreement to buy a firm that operates petrol kiosks in Myanmar through a reverse takeover. The counter closed yesterday 0.8 cents or 6.1
      537 words
    • Article
      Lock icon Cache’s Q2 DPU falls 5% to 1.98 cents
      432 7  -  Trust’s revenues, distributable income and net property income increase By CAI HAOXIANG CACHE Logistics Trust posted a distribution per unit (DPU) of 1.98 cents for the second quarter ended June 30, down 5 per cent from 2.09 cents a year earlier. This
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    • Article, Illustration
      Lock icon Frasers Com Trust Q3 DPU rises 23%
      346 7  -  China Sq Central, Caroline Chisholm Centre drive income By MINDY TAN FRASERS Commercial Trust (FCOT) yesterday posted a 25.8 per cent jump in its distributable income to $11 million for the third quarter ended June. Distribution per unit increased 23.2 per cent to
      FILE PHOTO  -  346 words
    • Article
      Lock icon CRCT posts 12.1% increase in DPU for Q2
      357 7  -  By MINDY TAN HIGHER shopper traffic and tenant sales have pushed CapitaRetail China Trust’s (CRCT) second-quarter distribution unit up 12.1 per cent to 2.41 cents for the three months ended June. Based on an annualised DPU of 9.69 cents and CRCT’s closing
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      96 7 ONE BANK. TWO CENTURIES. AND A GREAT DEAL OF PROGRESS. /f L ORK •v OF 1 i ii 9 o o N CO TO CM Cltl ucc E u 977 fu rr> CO CITI PIONEERS THE ATM. ,_r d (ti u Since our beginning in 1812, we've been privileged to
      96 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Euro worries persist, STI falls 7.5 pts
      584 8  -  New listing IHH and F&N dominate trading, accounting for 30% of market’s total dollar volume STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) yesterday fell 7.52 points to 2,990.92 in the face of mounting evidence that all is not well with
      Source: Bloomberg  -  584 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      65 8 Jul 25 VALUE CLOSE BT OB/OS -380.00-158.00 BT CADI -*****.00 -74.00 BT 10-day MA -*****.00 -38.00 FTSE ST Mid Cap 693.23 +1.38 FTSE ST Small Cap 452.08 -0.34 FTSE ST All Share 723.44 -1.22 FTSE ST China Top 201.04 +0.04 FTSE ST China 224.78 +0.12 FTSE ST
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    • Article
      Lock icon MOST ACTIVE STOCKS
      59 8 VOLUME IHH Healthcare 100,968,000 GSH Corp 57,272,000 Sincap 46,398,000 Noble Grp 37,914,000 JB Foods 36,353,000 F&N 34,118,000 Genting SP 31,711,000 Equation 31,485,000 Golden Agri 25,402,000 HLH Grp 23,726,000 VALUE($) F&N 276,139,780 IHH Healthcare 122,998,510 SingTel 63,250,280 DBS Grp 58,992,170 Keppel Corp 55,670,740 OCBC Bk 54,837,209 Genting SP
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 9 2 0 0 0 3 9 2 Manufacturing 37 62 41 4 7 12 41 69 53 Commerce 15 22 23 4 3 3 19 25 26 Tpt/Stor/Comms 11 20 9
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      933 8  -  Compiled by CONRAD TAN Mapletree Industrial Trust July 25 close: $1.25 DBS Group Research, July 25 MAPLETREE Industrial Trust reported gross revenue and net property income of $66.9 million and $48.3 million, which were higher by 22 per cent y-o-y and 26 per cent y-o-y, respectively. The stronger
      Source: Bloomberg  -  933 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,248 13,248 82,668 82,668 Manufacturing 261,661 63,884 325,545 426,427 1,508 427,935 Commerce 172,432 6,831 179,263 92,482 504 92,987 Tpt/Stor/Comms 65,032 8,747 73,779 116,869 2,475 119,344 Finance 18,470 1,691 20,161 151,055 656 151,712 Construction 55,459 8,037
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      112 8 Stock name Close Change Stock name Close Change CapMallsAsia 1.575 CapitaLand 2.940 +0.050 CapitaMall 1.940 +0.015 CityDev 11.630 +0.030 ComfortDelGro 1.645 +0.025 DBS Grp 14.510 -0.070 F&N 8.350 +0.350 GLP 2.200 -0.040 Genting SP 1.285 -0.010 Golden Agri 0.715 -0.015 HK Land 5.940 +0.060 JMH 51.200
      112 words
    • Article, Illustration
      Lock icon Euro gains on bailout fund comments
      467 8 CURRENCIES Reuters [NEW YORK] The euro rallied against most major currencies yesterday, recovering from a two-year low against the US dollar after a European Central Bank policymaker said he could see grounds for giving the eurozone bailout fund a banking licence. The comments from
      Reuters; REUTERS  -  467 words
    • Article
      Lock icon RISES
      109 8 BY CENTS CLOSE UP Asia Pac Brew 5200 326.0 6.7 GLD 10US$ ***** 139.9 0.7 DBXT S&P Short 10US$ 3815 44.1 0.9 F&N 835 35.0 4.4 UOB.ES.1207 1931 17.0 0.9 SIA Engg 418 10.0 2.5 Great Eastern 1398 8.0 0.6 DBXT MSMSIA 10US$ 1335 7.6 0.5 DBXT SPASX200 10US$
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    • Article
      Lock icon FALLS
      125 8 BY CENTS CLOSE DOWN DBXT Nifty 10US$ 9238 -100.8 -0.9 DBXT MSEurope 10US$ 3885 -92.0 -1.8 DBXT E50 10US$ 3024 -76.9 -2.0 DBXT MSKorea 10US$ 5072 -74.4 -1.1 JMH 5120 -63.0 -1.0 DBXT MSAsExJp 10US$ 2820 -46.6 -1.3 DBXT S&P500 10US$ 2160 -45.4 -1.6 DBXT MSJAP 10US$ 3363 -40.3
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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    • Article, Illustration
      Lock icon SGX, ASX offer fast connectivity to each other
      375 9  -  They will provide access to each other’s co-location data centre By JAMIE LEE SINGAPORE Exchange (SGX) and its Australian counterpart ASX are set to offer faster connectivity to each other’s markets by providing access to each other’s co-location data centre, they said
      BLOOMBERG FILE PHOTO  -  375 words
    • Article
      Lock icon LME shareholders okay HKEx takeover offer
      456 9 Premium bid price, potential entry into China tip balance Bloomberg [LONDON] London Metal Exchange shareholders approved the US$2.2 billion takeover offer from Hong Kong Exchanges Clearing Ltd, ending a 10-month contest. The vote yesterday in London was 99.24 per cent in favour, said Chris
      Bloomberg  -  456 words
    • COMPANY BRIEFS
      • Article
        Lock icon A-HTrust public tranche 6.9 times subscribed
        80 9 ASCENDAS Hospitality Trust (A-HTrust)’s initial public offering closed on Tuesday with the 70,148,000 stapled securities available to the public 6.9 times subscribed. The hospitality trust, which will be listed with an initial portfolio of 10 hotels worth $1.1 billion, also had a placement tranche
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      • Article
        Lock icon Biosensors Q1 profit up 45%
        79 9 BIOSENSORS International Group’s net profit for the first quarter ended June 30, 2012, rose 45 per cent from a year ago to US$32.63 million. The improved performance was due to the full quarter consolidation of the results of JW Medical System Ltd in the first
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      • Article
        Lock icon PEC secures $65m worth of new contracts
        39 9 PEC Ltd has secured $65 million worth of contracts from new and existing clients. The deals include the award of a contract from major petrochemical producer Petrochemical Corporation of Singapore (Private) Limited.
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      • Article
        Lock icon Jardine reaps US$56m gain from divestment
        58 9 JARDINE Cycle Carriage Ltd has disposed its entire interest in a company. Of the US$135 million cash consideration, Jardine C&C expects to recognise a net gain of US$56 million for the financial year ending Dec 31, 2012. Proceeds from the disposal will be used
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      • Article
        Lock icon China Hongxing CEO to step down
        70 9 CHINA Hongxing Sports chief executive Wu Rongzhao intends to step down, and its executive chairman Wu Rongguang will be acting CEO while the board looks for a replacement. This was among the management and internal control changes that the company announced in a share
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      101 9 1902 cm OPENS IN SINGAPORE. wfym< 2012 ONE IN SIX SINGAPORE HOUSEHOLDS are millionaires; ♦Boston Consulting Group Global Wealth Report 2012. Since we opened our doors here in 1902, we have been privileged to play an integral role in the dynamic growth of Singapore's affluence. With Citigold, Singapore's first priority
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon MAS beefs up capital, reserves amid volatile markets
      574 10  -  In pre-emptive move it raises capital by $8b to $25b, did not pass profits to govt MAS ANNUAL REVIEW By SIOW LI SEN THE Monetary Authority of Singapore (MAS) has increased its capital by $8 billion to $25 billion amid volatile financial
      FILE PHOTO  -  574 words
    • Article
      Lock icon Assets handled by funds here shrink 1.2%
      540 10  -  But number of investment professionals rises 15.3% to 3,052 at end-2011 By CONRAD TAN ASSETS managed by Singapore’s fund management industry shrank by 1.2 per cent last year amid volatile financial markets, but the number of investment professionals here rose. At end-2011, Singapore-based
      540 words
    • Article
      Lock icon MAS monitoring UOB’s 50-year mortgage loan offer
      416 10  -  By SIOW LI SEN THE Monetary Authority of Singapore (MAS) is carefully monitoring a new 50-year mortgage product that was launched recently. “We believe it is only one bank that is offering right now, and there has been no take-up,” said MAS deputy
      416 words
    • Article
      Lock icon About $350m to be placed with PE funds for investment in SMEs
      428 10  -  By FELDA CHAY UP to $175 million of the $250 million the government has earmarked for investment in small- and me-dium-sized enterprises under the first phase of its pub-lic-private co-investment funding programme for local SMEs will be seeded
      428 words
    • Article, Illustration
      Lock icon NParks’ bikes purchase referred to CPIB
      195 10 NPARKS’ controversial $57,200 purchase of 26 foldable bicycles has been referred to the Corrupt Practices Investigation Bureau (CPIB). Responding to queries, the Ministry of National Development (MND) yesterday confirmed that it has reported the matter to the CPIB, several media outlets reported yesterday. On
      FILE PHOTO  -  195 words
    • Article
      Lock icon A*Star launches 2 initiatives to attract R&D talent
      412 10  -  By WANG XIN MIN THE next cure for cancers and infectious diseases could very well be hastened by an invention of Tan Yann Chong, a PhD student on a National Science scholarship (NSS) awarded by the Agency of Science, Technology and Research
      412 words
    • Article
      Lock icon New musician fund something to sing about
      368 10  -  By VICTORIA HO A NEW wave of funding is available for musicians who need a leg up in the industry. The Media Development Authority (MDA) has announced a set of new extensions to its grant schemes. The first will help unsigned musicians and
      368 words
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      94 10 Legend of the Seas \«W8fry {AVERS <s 2- WEEKEND MALACCA CRUISE Singapore Departure: Nov 3 Ports-of-call: Singapore, Malacca 3- BEST OF MALAYSIA CRUISE Singapore Departures: Oct 31, Nov 9,16,23,30, Dec 7,14,26 Ports-of-call: Singapore, Malacca, Penang 4- ISLES OF SOUTHEAST ASIA CRUISE Singapore Departures: Nov 05,19,26, Dec 3,10,17,21 29 Ports-of-call: Singapore,
      94 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Japan posts record trade deficit of US$37.3b in H1
      540 11 Energy costs jumped while exports fell; grim outlook for H2, say analysts AFP [TOKYO] Japan posted a record first-half trade deficit of US$37.3 billion yesterday as energy costs soared and exports to key markets slumped, while analysts warned of further pain
      AFP; AP  -  540 words
    • Article
      Lock icon Australian core consumer prices quicken last quarter
      463 11 Bloomberg [SYDNEY] Australian core consumer prices accelerated last quarter close to the pace economists forecast, giving the central bank scope to extend a pause in interest-rate cuts next month. The so-called trimmed mean gauge of core prices rose 0.5 per cent from the
      Bloomberg  -  463 words
    • Article
      Lock icon BRIC banks could come under pressure: S&P
      526 11  -  Economic slowdown could weaken asset quality and earnings By MALMINDERJIT SINGH JUST as the world’s focus falls on the plight of banks in Europe, banks in the world’s largest developing economies of Brazil, Russia, India, and China (the BRIC economies), could come under
      526 words
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      53 11 Hong Seh Motors Pte Ltd Official Maserati Importer, Singapore Head office: 10 Fourth Lok Yang Road, Singapore *****7 Tel: +65 6266 1555 City Showroom: 390A Havelock Road, Waterfront Plaza #01-05/08, Singapore *****4 Tel: +65 6836 1112 1800 TRIDENT Alexcier Showroom: 237 Alexandra Road, The Alexcier #01-07, Singapore *****9 Tel: +65
      53 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon M’sian opposition pledges to slash taxes on cars
      614 12  -  Populist move poses challenge for govt as it will have major economic fallout By S JAYASANKARAN in Kuala Lumpur A POPULIST promise by the opposition to slash taxes on automobiles long a highly taxed species in Malaysia has placed the government in
      AP  -  614 words
    • Article, Illustration
      Lock icon Indonesian raw ore export ban hampered
      1026 12 Electricity shortage affects additional smelting capacity Bloomberg [JAKARTA] A shortage of electricity in Indonesia may hamper President Susilo Bambang Yudhoyono’s plan to ban all raw ore exports by 2014, as he seeks to increase revenue by forcing companies to refine locally. More than one
      Bloomberg; REUTERS  -  1,026 words
    • Article
      Lock icon Indonesia’s FDI stays strong in Q2
      631 12 Reuters [JAKARTA] Foreign direct investment (FDI) in Indonesia remained strong in the second quarter, showing that the G-20 member remains a magnet in a troubled global economy and that changes in businessownership rules are not cutting investor appetites so far. Between April and June,
      Reuters  -  631 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon China’s economy set for a soft landing: IMF report
      715 13 It urges further reform and currency appreciation to rebalance growth Reuters [BEIJING] China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund (IMF) said in a report yesterday that urged further reform and currency
      Reuters; AFP  -  715 words
    • Article
      Lock icon Maruti faces lengthy shutdown following latest labour unrest
      633 13  -  BY NEETA LAL in New Delhi MARUTI Suzuki India Ltd (MSIL) the country’s largest carmaker is staring at a protracted shutdown after labour unrest and savage violence claimed the life of its general manager (human resources) and injured a hundred employees last
      633 words
    • Article, Illustration
      Lock icon President Mukherjee vows to fight poverty
      452 13 AP [NEW DELHI] Political veteran Pranab Mukherjee yesterday pledged to fight widespread poverty and work to alleviate hunger as he was sworn in as India’s 13th president in an elaborate ceremony in Parliament. The position of president is largely ceremonial, but Mr Mukherjee would
      AP  -  452 words
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      96 13 LUXURIOUS PENTHOUSE LIVING ABOVE THE REST Live high above it all at Soleil. Be delighted by the undisturbed views of both lush greenery and the bustling city while you enjoy luxurious space on a single level like never before. Nestled comfortably at the heart of the Novena area, yet minutes
      96 words
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  • WORLD
    • Article, Illustration
      Lock icon Fed leaning closer to further round of stimulus action
      651 14 QE3 would help improve growth, but benefits modest and costs uncertain NYT [WASHINGTON] A growing number of Federal Reserve officials have concluded that the central bank needs to expand its stimulus campaign unless the nation’s economy soon shows signs of improvement,
      NYT; AFP  -  651 words
    • Article
      Lock icon US firms pessimistic about growth outlook
      707 14 Customers nervous over weakening economies in Europe Reuters [NEW YORK] Worries about a slowing global economy crimped corporate spending in the second quarter, leaving the chief executives of top US companies including United Parcel Service Inc and DuPont Co more guarded on their growth
      Reuters  -  707 words
    • Article, Illustration
      Lock icon Good times for big US banks ‘gone for good’
      665 16 / 17 They could be better off being smaller so as to be managed more efficiently ANALYSIS Reuters [NEW YORK] The summer of 2012 may be remembered as the time when regulation, scandals and a protracted slow-growth economy finally caught up with big
      Reuters; AP  -  665 words
    • Article
      Lock icon Korea banks face risks from probe into unfair practices: Fitch
      368 16 / 17 Reuters [SEOUL] South Korean banks are facing growing legal and reputation risks over suspicions that lenders had fattened their profits in recent years through unfair practices, ratings agency Fitch said yesterday. The warning came as the head of the anti-trust
      Reuters  -  368 words
    • Article
      Lock icon Bailed out US banks missing TARP payments
      456 16 / 17 Reuters [WASHINGTON] Hundreds of bailed-out banks are still struggling to repay taxpayers and will soon find it even harder to make required dividend payments to the US Treasury, according to a report yesterday by the watchdog for the government bailout programme. Of the
      Reuters  -  456 words
    • Article
      Lock icon Major upheaval in fixed-income bond industry
      605 16 / 17 Changes good for regulators, cheaper for investors but tougher for banks NYT [NEW YORK] Bond traders have long defined Wall Street’s swagger and, in good years, generated a large share of its profits. Now, though, an upheaval is taking place in the bond business
      NYT  -  605 words
    • Article
      Lock icon Mandatory clearing for swaps to start soon
      414 16 / 17 US regulator says move will lower risks in the global financial system Bloomberg [WASHINGTON] Interest rate and credit default swaps must be guaranteed by clearing houses starting this fall under a proposal approved by the US Commodity Futures Trading Commission to reduce risk
      Bloomberg  -  414 words
    • Article, Illustration
      Lock icon Gender bias runs deep in US corporate world
      591 16 / 17 IHT [NEW YORK] No doubt feminists everywhere, especially in the United States, celebrated July 16 when a 37-year-old female Google executive became the multi-million-dollar chief executive of Yahoo, the high-tech pioneer that has been struggling against its rivals. With her appointment at
      IHT  -  591 words
    • Article, Illustration
      Lock icon Murdoch’s A$2b bid for pay TV stalled as tycoons clash
      791 19 News Corp-Seven Group battle for Foxtel may spoil Packer’s plans Bloomberg [MELBOURNE] Rupert Murdoch, Kerry Stokes and James Packer have veered from allies to bitter enemies over the years as each jockeyed to expand their Australian media empires. The three
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      Lock icon Scientists point to 2 roads that may lead to Aids cure
      406 19 AFP [WASHINGTON] Investigators are looking into two main paths towards a cure for Aids, based on the stunning stories of a small group of people around the world who have been able to overcome the disease. Despite progress in
      AFP  -  406 words
    • Article
      Lock icon London boasts costliest Olympic medals
      395 19 AFP [LONDON] The eight tonnes of gold, silver and copper unearthed from mines in Mongolia and Utah and now under guard at the Tower of London is the largest ever haul used to make Olympic medals, which are also the costliest ever. The 4,700 Olympic
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    • LIBOR SCANDAL
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        Lock icon Major insurers wary of huge payouts to cover legal bills
        749 20 Already rising insurance rates stand to go even higher for all firms Reuters [BOSTON] Some of the world’s largest insurers for corporate directors and officers could be on the hook for hundreds of millions of dollars in claims over the
        Reuters  -  749 words
      • Article
        Lock icon Barclaysdirector Alison Carnwath resigns
        280 20 Bloomberg [LONDON] Barclays said Alison Carnwath, head of the British bank’s remuneration committee, stepped down, becoming the fourth senior figure to resign since regulators fined the lender for rigging global interest rates. “I am no longer able to devote sufficient time to my role as a
        Bloomberg  -  280 words
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        Lock icon It was up to London to take care of it, says Geithner
        348 20 AFP [WASHINGTON] US Treasury Secretary Timothy Geithner yesterday sought to deflect criticism of his handling of the Libor banking scandal, directing US lawmakers’ scorn toward London regulators. Facing a fierce interrogation from a House of Representatives committee, Mr
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    • Article
      Lock icon HSBC fined US$27.5m for Mexico lapses
      189 20 Reuters [LONDON] HSBC has been fined US$27.5 million in Mexico for lax controls in its anti-money laundering systems, a week after being slammed for allowing clients to shift funds from dangerous and secretive countries in a scathing US Senate report. HSBC said yesterday the
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    • Article
      Lock icon UK in far deeper recession than thought
      551 20 Q2 economy shrank by 0.7% instead of the expected 0.2% AP, Reuters [LONDON] Britain is suffering a far deeper recession than thought, official figures showed yesterday in a development that is likely to increase the pressure on the government to ease up on
      AP,; Reuters  -  551 words
    • Article
      Lock icon With new Mountain Lion your Mac will feel like an iPad
      490 20 AP Bloomberg [SAN FRANCISCO] Apple yesterday released its new operating system for Mac computers, with features borrowed from mobile devices and a tighter integration with online file storage. Dubbed Mountain Lion, the new software narrows the gap between the
      AP; Bloomberg  -  490 words
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      Lock icon Disappointing iPhone sales affect Apple’s Q2 results
      663 22 Less-than-forecast profits blamed on poor economy, new iPhone anticipation Reuters [SAN FRANCISCO] Apple Inc results fell short of Wall Street’s lofty expectations as a sagging European economy and a pause in iPhone sales ahead of a new version saw revenues slip from the
      Reuters; REUTERS  -  663 words
    • Article
      Lock icon Deutsche Bank profit fails to meet forecasts
      548 22 Bloomberg [FRANKFURT] Deutsche Bank AG, Germany’s biggest bank, will reduce risk to meet a 2013 capital-ratio goal after second-quarter profit missed analysts’ estimates on expenses tied to a weaker euro. Net income fell to about 700 million euros (S$1.07 billion) from 1.2 billion
      Bloomberg  -  548 words
    • Article, Illustration
      Lock icon Peugeot posts H1 loss of 662m euros, vows to restructure
      441 22 Reuters [PARIS] PSA Peugeot Citroen vowed to press ahead with politically fraught restructuring plans as the troubled French carmaker detailed mounting losses it has described as a threat to its future. Europe’s second-largest car maker posted a 662 million euro
      Reuters  -  441 words
    • Article, Illustration
      Lock icon LG misses profit estimates on phone losses
      493 22 Bloomberg [SEOUL] LG Electronics Inc, the world’s fourth largest mobile-phone maker, reported profit that missed analysts’ estimates after sales of its handsets lagged behind models from Samsung Electronics Co and Apple Inc. Net income rose 47 per cent to 159 billion won (S$174
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      856 14 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,
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      129 15 wmmm wmm§m r ■<S’-> > W nmwmmm r S r <J:■r* .-ir~~ &sJ/tfJa*2£SSS •W'f&Sp&r mm. m. a I > OR j ii Vi?” v-.A;' ’-^.iSfeb^sC-w It. v mi SHfe D? >. JSBul&4w yi&l w.-T c %•*v-^>^• ..v.tvv r! *v. r-*?••*• >,/ A M M M m •s. m .V' wr.v*
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      160 16 / 17 Double the view Double the pleasure. m THiQ 0II |wa I- t 5* I -rr ’5 r *rr rr XZ3P*?\ W .WB :W MiPl s -VC ggH T~ v M i I r >11! h m > a p .ur. v □rum Luxurious condominium with extensive facilities Unique 1 and
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      149 18 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 O n l ine and Mobile packages br ings me wonder ful gifts.” Sure-GetGiftswithanySubscriptionPackage forAll-in-OnePackagesSpecialBuy inSensationalDrawWinPrizes whenyousignupforanysubscriptionpackage.
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      120 19 Prof Dave Ulrich Ross School of Business, University of Michigan, Professor of Business Lieutenant General David Huntoon Superintendent, United States Military Academy (West Point) Harish Manwani Unilever, Chief Operating Officer Tracey Fellows Microsoft, President of Asia Pacific Mark Tucker AIA, Group Chief Executive and President Arvind Rajan LinkedIn, Managing Director
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      4099 21 KATS NOTICES 1 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices NOVO GROUP LTD. inlfilSSPMawi* (Incorporated in Singapore with limited liability) (Company Registration No. *****2648H) Singapore Stock Code: MRS Hong Kong Stock Code: 1048 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of NOVO GROUP LTD.
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      822 22 seJ MATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices CALL FOR PROPOSAL (CFP) The Singapore Workforce Development Agency (WDA) invites prospective providers to submit proposal for: CFP No.: WDA.CPSD.14.138.1.C.V1 Project Title: CFP for the Appointment of a Continuing Education and Training Programme Partner for Telco Networks (IPv6) under National Infocomm
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Heathrow clearance is a sprint: Carl Lewis
      372 23 Athletes and visitors to the Games say they are impressed by airport facilities AFP [LONDON] London’s Heathrow Airport coped with its busiest day so far for Olympic arrivals on Tuesday with American sprint legend Carl Lewis praising the under-pressure hub after jetting in.
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    • Article
      Lock icon US travel ads must show all costs
      458 23 Reuters [WASHINGTON] Airlines can no longer understate the cost of a plane ticket by leaving taxes and government fees out of their advertised rates, under new rules that won US court approval on Tuesday. The rules are designed to make travel advertising more
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    • Article, Illustration
      Lock icon Oil-tanker glut in Persian Gulf expands: survey
      463 23 Bloomberg [LONDON] A glut of the biggest oil tankers in the Persian Gulf expanded, a Bloomberg survey showed, adding to pressure on owners facing returns near the lowest level in at least four years. There are 20 per cent more very large crude
      Bloomberg; BLOOMBERG  -  463 words
    • Article
      Lock icon Team USA docs on the alert for travel risks
      586 23 Airplane illnesses, long-haul flights may wreck performance WP LONDON A fist bump may be American athletes’ greeting of choice as they try to avoid illnesses that might wreck their Olympic dreams. Airplane illnesses and the rigours of long-haul travel are bigger
      WP  -  586 words
    • Article
      Lock icon TRANSPORT STOCKS
      251 23 SGX '000 Jul 25 S$ +/-Vol CH Offshore 0.39 -0.01 428 Chuan Hup Hldg 0.23 unch 118 Cosco Corp 0.97 -0.01 3327 S$ First Ship Lea 0.15 -0.01 2145 Freight Links 0.06 unch 3612 Grand Banks 0.20 unch 809 Jaya Hold Ltd 0.57 unch 302 K1Ventures 0.13 unch
      251 words
    • Article
      Lock icon Iata sees India taking lead in EU carbon scheme discussions
      304 23 Reuters [NEW DELHI] The International Air Transport Association (Iata) expects India to lead global talks on the European Union’s Emissions Trading Scheme (ETS), the organisation’s head said, sympathising with the country’s objections to the proposal. Two Indian airlines failed to
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    • Article
      Lock icon The Business Times Shipping Times
      1911 26 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 Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE UK CONTINENT SERVICE Destination STXPO TBN
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      23 23 Amid severe challenges China boosting development of its central region development of its central region To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 23 Miscellaneous
    • Miscellaneous
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      323 23 CRYPTIC CROSSWORD Across 1 Material from forecaster easily deluded one (10) 6 Special forces will absorb pressure in healthy places (4) 10 This outcast returns to drive back (5) 11 King Edward on horseback apparently to take flight (9) 12 A diner’s chewed fish (7) 13 Sort of bowler hat
      323 words
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  • EDITORIAL & OPINION
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      Lock icon Broadband hiccups need dose of goodwill
      487 24 EDITORIAL A GENEROUS view of the current disputations involving OpenNet, the infrastructure provider for Singapore’s nascent ultra high-speed broadband network, is that they are a reflection of the complexity of this nationwide project. Seen in this light, the complaints and fingerpointing by the various
      487 words
    • Article, Illustration
      Lock icon US shooting itself in the foot on gun ownership
      825 24  -  THE BOTTOM LINE LEON HADAR Washington Correspondent ACCORDING to American opponents of gun control, last week’s massacre at a cinema in Aurora, Colorado, had nothing to do with the fact that the United States is on the top of the list
      825 words
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      Lock icon CFOs do more than just add the numbers
      1007 24  -  He is uniquely tasked with finding a balance between the accelerator and the brake By CHOO ENG CHUAN The writer is Asean and Singapore markets leader, Ernst Young ALMOST every growth-hungry chief executive officer (CEO) today will have rapidgrowth markets on his
      REUTERS  -  1,007 words
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      Lock icon Saving global economy from collapse
      1722 25  -  Academics blame lack of confidence, trust and banking sector transparency for slow economic growth By NICHOLAS BRAY Nicholas Bray is a writer for ‘Insead Knowledge’. This article was first published on ‘Insead Knowledge’ (knowledge.Insead. edu) LACK of trust, lack of confidence, lack of visibility. Which
      AFP  -  1,722 words
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      Lock icon Globalisation process remains only skin-deep
      856 25  -  ANTHONY ROWLEY Tokyo Correspondent THE world is not flat, as Thomas L Friedman would have us believe; it is round, and encompassed within its 24,000-mile (38,620km) circumference and 360 degrees of longitude and latitude are some 200 sovereign states that are home to myriad political
      AP  -  856 words
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      33 26 PLACE YOUR AD HERE The Business Times Shippii G TIMES CALL JOE WOIN IG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times?
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      31 26 Experienced sh/p maintenance you y r i services services wanted, herein the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES I nt UUJIINLJJ IMVItJ Shipping Times
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2718 27 Transaction date: Jul 25 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote ('000) High Low Buyer Seller 132 92.5 AIMSAMPIReit 126.5cd +1 164
      2,718 words
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      Lock icon SGX CATALIST
      183 28 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 4.6 1.3 t Advanced System 1.8 unch 200 1.8 1.8 1.8 1.9 23.8 Last Quote Div Gr Yld Net M
      183 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      8178 28 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha FuncfCI 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 Mat Asia Limited Asian Local Ccy SD Bond
      8,178 words
    • Article
      Lock icon GLOBALQUOTE
      193 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 46 25.5 Genting HK US$ US32 +0.5 1170 32 31 31 32 2107 Last 220 168 TanChongInt HK195 -5 15 195 195 195 208 4.3 3.6
      193 words
    • Article
      Lock icon SGX ETF
      981 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 122.4 122.2 CIMB APAC Div 100S$D 122.2 123.5 124.4 103 95.8 CIMB APAC Div 100US$ US102 97.3 97.9 10.7 1275 1246 CIMBASEAN40 100S$D 1261 -11
      981 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      653 29 Jul 25 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8410.98 8433.58 8328.02 Sep12 8455.00 8475.00 8320.00 8355.00 ***** *****0 Dec12 8360.00 8360.00 8265.00 8295.00 331 9924 MSCI TAIWAN INDEX FUTURES SPOT 245.46 248.16 244.17 Jul12 245.80 247.10 242.20 244.00 ***** *****9 Aug12 242.70
      653 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 29 In local curr In S$ In US$ dy yr dy yr dy yr Jul 24 Index Change Change Change Change Change Change World Preliminary 854.5 -0.7 3.0 -0.7 -1.1 -0.7 1.8 EAFE Preliminary 679.1 -0.5 -0.4 -0.6 -6.0 -0.5 -3.2 Europe Preliminary 1015.6 -0.6 -1.1
      373 words
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      Lock icon SMX MARKET UPDATE
      150 29 As on 24 July 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1582.90 1568.20 1576.00 419 INDIA GOLD (E-GOLD) FUT AUG2012 526.60 522.15 525.85 2270 GOLD FUT OCT2012 1580.80 1572.70 1579.00 46 INDIA GOLD (E-GOLD) FUT OCT2012 527.25 526.90 532.30
      150 words
    • Article
      Lock icon CHICAGO BOT
      107 29 Jul 24 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 12 1649.25 1698.50 1706.25 1628.50 Sep 12 1595.50 1647.75 1655.25 1577.75 Nov 12 1569.50 1622.25 1628.00 1552.25 Jan 13 1550.50 1602.25 1608.25 1532.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 12 51.58
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 29 CRUDE OIL PRODUCTS Jul 24 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 103.76 -0.10 WTI (Near Mth) 88.28 0.20 Dubai (1-Mth F) 100.10 0.07 Tapis blend 106.53 -0.12 Minas 107.13 -0.12 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 92.28 -0.60 Jet Kerosene 119.43 0.06 US$/barrel OpecOil Basket
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    • Article
      Lock icon USS/S5 FORWAR D RATES
      23 29 Jul 25 S$ Bid Offer 1-month 1.2606 1.2608 2-months 1.2605 1.2607 3-months 1.2603 1.2605 6-months 1.2590 1.2593 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 29 Jul 24 Jul 24 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1838.25 1851.75 3 months 1869.00 1878.00 Copper, Grade A(US$/tonne) Cash 7413.25 7398.00 3 months 7417.00 7401.00 Lead(US$/tonne) Cash 1848.75 1849.50 3 months 1860.00 1860.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3
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      Lock icon LIFFE
      80 29 Jul 24 COCOA (£/tonne) Close Prev High/Low Sep 12 1540 1554 1575/1535 Dec 12 1531 1544 1564/1525 Mar 13 1514 1528 1550/1509 May 13 1515 1529 1553/1511 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2141 2150 2160/2160 Sep 12 2158 2167 2185/2153 Nov 12 2143 2152 2169/2140 Jan 13 2115
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1109 29 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 1 146 384 7.75 22 Conv Ratio Baker Technology Ltd W*****6 1.5 unch 220 1 32 6 21.00 4 Price Best World Intl Ltd W*****5 0.6 1
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    • Article
      Lock icon INTERBANK CROSS RATES
      470 29 Jul 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.045 6.550 0.847 7.950 57.722 97.254 0.801 11.793 3.260 1.306 96.890 43.229 1.292 8.715 1.018 30.926 32.537 0.660 1.025 Canada 0.957 6.269
      470 words
    • Article
      Lock icon SIBOR
      56 29 Jul 25 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 0.***** 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1 yr 0.*****
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    • Article
      Lock icon PRECIOUS METALS
      136 29 Jul 25 GOLD(US$/oz) Jul 24 Jul 25 Hong Kong 1583.40 1596.00 Jul 25 Jul 23 Jul 24 London 1575.91 1576.16 1576.68 1576.93 Source: Thomson Reuters CAST BAR Jul 25 (S$) Selling Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 154 64 5gm 438 321 10gm 782
      136 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      92 29 Jul 25 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 25-Oct-12 0.22 0.14 0.14 6-Month BS*****Z 24-Jan-13 0.23 1-Year BY*****T 02-May-13 0.23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.13 100.17 100.17 5-Year
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    • Article
      Lock icon PALM OIL
      57 29 Jul 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 2925.0 2898.0 2931.0 2899.0 455 3859 Sep 12 2896.0 2912.0 2945.0 2889.0 5050 ***** Oct 12 2907.0 2926.0 2955.0 2898.0 ***** ***** Nov 12 2915.0 2935.0
      57 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 29 Jul 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2915 1.2924 1.0245 1.0251 Canadian dollar 1.2360 1.2370 0.9812 0.9805 Euro 1.5242 1.5248 1.2091 1.2094 NZ dollar 0.9887 0.9895 0.7843 0.7848 Sterling pound 1.9570 1.9576 1.5524 1.5527
      154 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      123 29 As at 9am Jul 25 Jul 25 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.319 1.257 Can dollar 1.264 1.204 Euro 1.559 1.485 Sterling pound 1.994 1.918 NZ dollar 1.015 0.967 US dollar 1.282 1.233 Local dollars to 100 units
      123 words
    • Article
      Lock icon INTERBANK RATES
      155 29 Jul 25 $S Offer Bid 0vernight 0.04 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.11 US$ 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 1.05 0.85 12
      155 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Aussies cool to low interest rates
      1569 30  -  Yearly growth of outstanding home loans slows to weakest pace in 35 years, report SARAH MCDONALD and MICHAEL HEATH reportSARAH reportSARAH MCDONALDandMICHAEL HEATH Bloomberg [SYDNEY] THE Reserve Bank of Australia’s (RBA) 125 basis points of interest rate cuts since November have failed to spur
      Bloomberg; AFP  -  1,569 words
    • Article
      Lock icon Househunt
      637 30 PROPERTY TRANSACTIONS FOR DISTRICTS 3 TO 28 WITH CONTRACT DATES BETWEEN JUNE 27 AND JULY 3, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 3 NON-LANDED Alexis Apt 02/07/2012 FH 527 603 1144 District 4 NON-LANDED The Interlace Apt
      637 words
    • Article
      Lock icon Mumbai home sales hit 18-month high in Q1
      504 31 Demand for new suburban projects drives sales 7% up but value falls 17% Bloomberg [MUMBAI] Mumbai’s residential home sales climbed to an 18-month high in the fiscal first quarter as new projects in the suburbs boosted demand, according to Liases Foras Real
      Bloomberg  -  504 words
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      Lock icon Stockland MD to retire; earnings miss forecasts
      527 31 Quinn will continue in his role until a replacement is found Bloomberg [SYDNEY] Stockland, Australia’s biggest diversified property trust, said managing director Matthew Quinn will retire in February. The company said annual profit was less than forecast. Mr Quinn, who has led the
      Bloomberg; BLOOMBERG  -  527 words
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      Lock icon HK rents chasing retailers away
      755 32 Prime shopping area rents rising more rapidly than in New York, London, Paris Reuters [HONG KONG/SINGAPORE] Hong Kong’s main shopping district is gaining on New York’s 5th Avenue for the title of world’s most expensive retail zone as rents rise by 35 per cent a
      Reuters; BLOOMBERG  -  755 words
    • Article
      Lock icon Roxy-Pacific bags Harbour View Gardens for $33m
      316 32  -  By MINDY TAN ROXY-Pacific Holdings Limited, through its whol-ly-owned subsidiary RH West Coast Pte Ltd, has acquired the freehold residential development Harbour View Gardens for $33.0 million. This translates to some $766.7 per square foot per plot ratio (psf ppr), based on the
      316 words
    • Article
      Lock icon British Land buys prime Mayfair site
      242 32 Reuters [LONDON] British Land placed a £130 million (S$253 million) bet on the resilience of London’s luxury flat market yesterday, though it could sacrifice some flats for offices if signs of a slowdown among wealthy homebuyers increases. Britain’s No 2 listed developer has bought
      Reuters  -  242 words
    • Article
      Lock icon Site for GCBs, two other properties up for grabs
      688 33  -  Selling price of plot for GCBs in Holland Rise area is between $60m and $65m By FELDA CHAY A PLOT of land gazetted for good class bungalows (GCBs) in the Holland Rise area has been put up for sale by tender,
      688 words
    • Article
      Lock icon Reits worth a look for higher yields
      663 33  -  By JOHN WASIK The writer is a Reuters columnist and the opinions expressed are his own Reuters [CHICAGO] While there’s some debate over whether the US residential market is in recovery mode, there’s a stronger case for a rebound in commercial properties. Real
      Reuters  -  663 words
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      227 31 AA CENTRE, 336 RIVER VALLEY ROAD FREEHOLD MIXED DEVELOPMENT (LEVEL 1 to 6) 111 %'S Car Park: About 90 lots located in basement levels for common use Possible to explore change of use for full serviced apartment, SOHO development or other community use (subject to relevant authorities approval) FOR SALE
      227 words
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      Lock icon Page 31 Advertisements Column 2
      571 31 For Sale by Tender GCB Land at Holland Rise/East Sussex Lane Land area 52,992 sf; Freehold Vacant; Subdivided into 3 plots Good for 1 3 luxurious GCBs 400m to Holland V and MRT Stn Tender Closing on 23 Aug 2012 (Thurs), 2.30pm Freehold Industrial Site off Upper Paya Lebar Land
      571 words
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      2 32 MAUDE RD
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      149 33 MELBOURNE COMMERCIAL PROPERTY New Investment Craze ft Vi JOIN US ON 29 JULY 2012, SUNDAY 2.00PM 5.00PM THE COLONIAL SCOTTS, 31A SCOTTS ROAD SINGAPORE *****3 Host Presenter Mr. Nicholas Mak Executive Director, Research Consultancy SLR International Property Consultants Pte Ltd Keynote Speakers Mr. Tony De Domenico Executive Director, Urban Development
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