The Business Times, 28 July 2012

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Microfilm: NL32075
Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    15 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| g| JULY 28-29, 2012 S$1.00| MICA (P) 121/08/2011
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  • Article
    Lock icon Taxis switch COE lane, big cars may pay price
    749 1  -  Cabs out of COE bidding process, but fleet expansion to be clawed back from Open category By Samuel Ee samuelee@sph.com.sg Singapore Singapore A major change involving taxis and the COE system could have far-reaching effects for car buyers. In a nutshell,
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  • Article, Illustration
    Lock icon Seven years on, Airocean ex-IDs get clean chit
    754 1  -  By Grace Leong gleong@sph.com.sg Singapore APPLAUSE erupted from a packed public gallery yesterday at the Supreme Court after a landmark verdict on the appeals of three former directors of Airocean Group was read. Seven years after the Corrupt Practices Investigation Bureau began
    FILE PHOTO  -  754 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon CONTENTS
      59 2 NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 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 Travel L7-9 Home Garden L10-11 Clipper Race L12-13 Gadgets
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    • MARKETS
      • Article
        Lock icon STOCKS
        44 2 Friday Change KL COMP 1,624.94 +1.03 NIKKEI 225 8,566.64 +123.54 HANG SENG 19,274.90 +382.17 SET 1,178.01 +5.09 JAKARTA 4,084.21 +79.44 MANILA 5,219.55 +66.99 KOSPI 1,829.16 +46.69 SHENZHEN B 583.28 +1.00 MUMBAI IND 16,839.10 +199.37 12noon EDT Change DOW 12,992.63 +104.70 NASDAQ 2,930.25 +37.00
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      • Article
        Lock icon PRIME RATES
        41 2 HSTI 2,998.49 (-6.08) HSTI FUTURES 2,998 (-6) GSIMSCI 346.37 (+0.05) GSIMSCI FUTURES 346.60 (+0.40) SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.017 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.52 US 3.25 CANADA 3.00 SWITZERLAND 0.52 INDIA 14.75
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      • Article
        Lock icon FOREX
        48 2 US$ S$ US$ (S$ per US$) 1.252 (US$/S$ per 1.568 1.964 EURO(US$/S$/€) 1.228 1.537 Foreign currency per US$ S$ YEN 78.30 62.50 RM 3.158 2.522 HK$ 7.757 6.194 BAHT 31.55 25.19 RUPIAH 9,480 7,570 RENMINBI 6.378 5.093 INDIAN RUPEE 55.47 44.29 A$ 0.959 0.766 NZ$ 1.246 0.995
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    • Article
      Lock icon F&N gets more time to decide
      911 2  -  Another week to think over Heineken’s bid for APB; no other offer so far By Emilyn Yap emilyny@sph.com.sg Singapore FRASER and Neave (F&N) has one more week to decide on Heineken’s multi-bil-lion bid for Asia Pacific Breweries (APB), and it has received no other
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    • Article
      Lock icon Private home buyers lured by attractive resale deals
      1321 4  -  URA stats also point to early sign of buyer fatigue for shoebox apartments By Kalpana Rashiwala kalpana@sph.com.sg Singapore PROPERTY buyers have been wising up to more attractive deals for private homes in the secondary market compared with pricey launches by developers of
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    • Article
      Lock icon Economy expands at a slower pace in Q2
      645 5 GDP rises at a 1.5% annual rate; softening job market prompts Americans to cut back on spending LATEST US DATA Bloomberg Washington THE US economy expanded at a slower pace in the second quarter as a softening job market prompted Americans to
      Bloomberg  -  645 words
    • Article, Illustration
      Lock icon LONDON RECORDS
      883 6  -  The 3,000 medals to be handed out are the dearest in Olympic history due to recent gold and silver booms By Lee U-Wen leeuwen@sph.com.sg Singapore THE London Olympics are barely underway but the host city can already lay claim to the Games’ first and somewhat unique world record.
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    • Article, Illustration
      Lock icon Households expect higher inflation: survey
      498 7  -  Responses suggest that consumers expect 4.4% inflation over the next year By Teh Shi Ning tshining@sph.com.sg Singapore SINGAPORE households expect prices to rise a faster 4.4 per cent in the year ahead, the latest Singapore Management University (SMU)-MasterCard Singapore Index of Inflation Expectations index shows.
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    • Article
      Lock icon Facebook shares fall 17% after its US$157m Q2 loss
      635 7 AFP New York INVESTORS wiped US$10 billion off the value of Facebook yesterday, after it reported a loss of US$157 million in its first earnings report after its public offering (IPO). The 17 per cent slide in the shares took Facebook’s
      AFP  -  635 words
    • Article, Illustration
      Lock icon New business growth gives AIA(S) a boost
      600 8  -  Net operating profit rises 8% to US$1 68m for H1 sales to high net worth clients growing fast By Siow Li Sen lisen@sph.com.sg Singapore AIA Singapore, reporting results for the first time in its 81-year history here, said yesterday that operating profit after
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    • Article, Illustration
      Lock icon Barclays pledges to repair damage to its reputation
      594 8 Reuters London BRITISH bank Barclays pledged to repair the damage to its reputation caused by its part in the interest rate rigging scandal that has rocked the banking industry, after beating forecasts with a £4 billion (S$7.9 billion) profit. “We are sorry
      Reuters; AFP  -  594 words
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      80 2 SINGAPORE —SWEEP— 1 st prize $2 ,200,000 $500,000 $250,000 $1,300,000 f 0 c.. *$2-2 M'.mon\ n,. —r 1 2 nd p R ZE 3 rd PRIZE SUPER SWEEP SNOWBALLED TO No. SINGAPORE I>9 w -SWEEP Draw No. 08/2012 S3 $600,000 $260,000 fSISIQPAO A, I -I -'MiJn, DRAW ON WEDNESDAY, 1
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  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      68 3 Boustead Projects Pte ltd extends its Warmest Congratulations to (§nllnenlal on the Grand Opening of their New Facility in Kallang iPark, Boon Keng 22a if If Isss®'" IHSISSS® £2. JL_ V s ?>- ■I inRifk'fi Eiiggnrii J. t Designed, built, and owned by: E> Boustead Projects boustead Since 1828 Our
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  • Page 5 Advertisements
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      492 5 y V oC) mft n r vmw n m Ml k 1 THE POWER OF YOU 8 y YouTek™ IG Extreme Elite r-i YouTek™ IG PRESTIGE PRO -1 The MP version is Robin Soderling's weapon of choice. This racquet offers the perfect blend of maneuverability A and precision. The Extreme
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      198 7 r SUMMER MADNESS AT THE BRITISH CLUB We enjoy our summers so much, we want to share it with you. Take up any of our lifetime memberships and relish savings of over $3,000 today. Each membership is for the entire family and this offer is available for a limited time
      198 words
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      Lock icon Page 8 Advertisements Column 1
      256 8 agATS NOTICES In the Matter Of The Companies Act, Cap. 50 And In The Matter Of LINKVEST PROPERTIES PTE LTD UEN *****7231N NOTICE OF CREDITORS’ MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act, Cap.
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | July 23-27, 2012
      • Article
        Lock icon Wealthy develop a new respect for forex
        74 9 WITH other investment products on shaky ground, the seriously rich have been increasing their bets in the foreign exchange (forex or FX) market. So far this year, equity markets have been highly volatile, commodities have turned negative, and even fixed income has been
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      • Article
        Lock icon London, S’pore ahead in yuan business
        32 9 LONDON and Singapore are seen as frontrunners in the race for a bigger slice of the yuan business as the Chinese currency continues its internalisation path.
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      • Article
        Lock icon Spain bears bad news to sink the markets
        77 9 EUROPEAN stock markets and the euro slumped on Monday on a confluence of bad news about Spain and Greece. Such were the worries that Spanish 10-year bond yields spiked a quarter of a percentage point to a worrying 7.56 per cent in
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      • Article
        Lock icon Inflation stays stubborn, hits poorer homes hard
        65 9 INFLATION is still not coming down and appears to have hit poorest households hardest in the first half of this year. Policymakers expect inflation to moderate in the second half of the year after June’s rebound to 5.3 per cent, but high inflation
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      • Article
        Lock icon Bank loans growth hits the skids
        45 9 BANK loans growth is gradually weakening, as persistent economic uncertainty curbs business activity and banks themselves lend carefully. Analysts expect loans growth for the year to slow to the low teens, significantly below last year’s 30 per cent growth.
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      • Article, Illustration
        Lock icon Growth could dip below 1% this year
        116 9 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 costs remain elevated, said the Monetary Authority of Singapore (MAS). Housing and private transport costs are likely to
        AFP  -  116 words
      • Article
        Lock icon Ex-City Harvest finance director charged in court
        85 9 ANOTHER key figure behind the alleged siphoning of millions of dollars of church funds at City Harvest Church was slapped with 10 criminal charges on Wednesday. Former finance director Serina Wee was charged with six counts of criminal breach of trust and four
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      • Article
        Lock icon Changi may be jilted as Qantas eyes Dubai
        39 9 IN a move that could impact the Singapore-Changi hub, Australia’s Qantas Airways and Dubai-based Emirates are headed for an alliance that may see Qantas bypass Singapore as its “kangaroo route” hop-off.
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      • Article
        Lock icon Jostling for position ahead of F&N D-Day
        88 9 SHARES in Asia Pacific Breweries (APB) fell on Thursday as the spotlight turned to its parent Fraser Neave (F&N), where acquisition moves by major shareholders are now brewing. Thai Beverage emerged as one of the block buyers of F&N shares earlier this week,
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      • Article
        Lock icon June manufacturing rises 7.6% on pharma surge
        33 9 INDUSTRIAL output rose 7.6 per cent in June from a year ago thanks to pharmaceuticals’ anti-cy-clical surge, more than double the 2.8 per cent consensus forecast.
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      • Article
        Lock icon Credo name history after JLL acquisition
        39 9 HOME-GROWN property agency Credo Real Estate is bidding farewell to its name following its acquisition by global real estate services group Jones Lang LaSalle (JLL) a deal that both firms announced on Thursday.
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    • Article
      Lock icon NEXT WEEK | July 30 – Aug 3
      80 9 NEXT WEEK July 30 Aug 3 US DATA July 31 June personal income June personal spending July consumer confidence Aug 1 June construction spending Aug 2 June factory orders Aug 3 July nonfarm payrolls July unemployment rate CHINA DATA July 31 PMI manufacturing index SINGAPORE DATA July 31 June employment
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      Lock icon Page 9 Advertisements Column 1
      23 9 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use.
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  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      333 9 Across 1 Sailors, American, pointing to a group of small bones (6) 5 Fool, one taken in by her dressmaker? (8) 9 Marine mammal, captain, and law he’s broken (5,5) 10 Forgotten old man on street (4) 11 Boozing from bar to bar, becoming crude in quiet club maybe (3-5)
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The right balance
      2283 10 / 11  -  Richard Koo, Nomura Research Institute’s chief economist, talks to Anthony Rowley about fixing the world’s economy Anthony Rowley LIKE an aircraft that is stalling and responds to attempts at pulling the nose up with an ever-more precipitous descent, the global economy appears to be reacting to frantic
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  • COMPANIES
    • Article
      Lock icon SMRT’s Q1 profit rises 4.7% to $36.5m
      596 12  -  Performance weighed down by higher staff and maintenance costs and fees relating to train breakdowns By Samuel Ee samuelee@sph.com.sg Singapore SMRT Corp’s net profit for the first quarter ended June 30, 2012, rose 4.7 per cent to $36.5 million despite being weighed down
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    • Article, Illustration
      Lock icon SGX Q4 profit falls 23%; final 15-cent dividend
      611 12  -  By Kenneth Lim kenlim@sph.com.sg Singapore SINGAPORE Exchange (SGX) said it will continue to focus on organic growth and improving market quality as it posted a 23.2 per cent fall in its fiscal fourth-quarter net profit. “We think it’s a very credible result
      REUTERS  -  611 words
    • Article
      Lock icon Wilmar shares fall to 3-year low on China price pressure
      276 12 Bloomberg Hong Kong WILMAR International Ltd, which controls half of China’s cooking oil market, fell to the lowest in more than three years after the nation told suppliers to keep prices stable. Shares of the Singapore-based company fell 4.4 per
      Bloomberg  -  276 words
    • Article, Illustration
      Lock icon SingTel defends Amobee and Hungrygowhere buys
      392 13  -  Management grilled at AGM on company’s acquisitions and disruptions to mobile phone service and football telecasts By Victoria Ho vhoip@sph.com.sg Singapore THE board and management team of SingTel defended the company’s purchases of Internet firms Amobee and Hungrygowhere at its annual general meeting yesterday.
      AFP  -  392 words
    • Article
      Lock icon Ascott Reit Q2 DPU up 2%
      405 13  -  By Teh Shi Ning tshining@sph.com.sg Singapore ASCOTT Residence Trust’s (Ascott Reit) second-quarter distributable income rose 3 per cent to $27.1 million, from $26.3 million a year ago, helped by higher revenues from new acquisitions in Tokyo and Kyoto and better performing serviced residences in
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    • Article
      Lock icon CDL Hospitality Trusts’ Q2 DPU falls 1 .4%; NPI down 4.2%
      519 13  -  By Mindy Tan tanmindy@sph.com.sg Singapore CDL Hospitality Trusts (CDLHT) recorded a 1.4 per cent year-on-year dip in distribution per stapled security for Q2 2012 and a 4.2 per cent decrease in net property income (NPI) to $34.1 million, mainly
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    • Article, Illustration
      Lock icon Heading into the weekend with caution
      930 14  -  STOCKS Ven Sreenivasan ven@sph.com.sg Senior Correspondent WHILE Asian bourses generally gained following a strong close on all Street, the mood heading into the weekend was one of caution. Singapore’s Straits Times Index (STI) started strongly but lost steam during the session to drift 6.08
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    • Article
      Lock icon Ascendas Hospitality Trust closes flat on debut
      578 14  -  The new counter hovered in 87-89.5¢ range before ending at IPO price of 88¢ By Cai Haoxiang haoxiang@sph.com.sg Singapore ASCENDAS Hospitality Trust closed unchanged from its initial public offering price (IPO) of 88 cents on its first day of trading on the mainboard
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    • Article, Illustration
      Lock icon Tiger pares losses in Q1 ; revenue up 1 .4%
      706 15  - Tiger pares losses in Q1 revenue up 1 .4% Carrier’s S’pore unit stays profitable while Australian arm begins showing sequential improvement By Ven Sreenivasan ven@sph.com.sg Singapore TIGER Airways reported a substantially lower net loss of $13.7 million for the first quarter ended June 30, 2012, compared to a loss of
      BLOOMBERG FILE PHOTO  -  706 words
    • Article
      Lock icon Jardine C&C manages 5% rise in Q2 net gain, sees tough H2 ahead
      396 15  -  By Teo Si Jia teosj@sph.com.sg Singapore JARDINE Cycle Carriage reported a 5 per cent year-on-year rise in net profit to US$245.7 million for its second quarter ended June 30. This raised half-year earnings to US$511.3 million, a
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    • Business briefing
      • Article
        Lock icon Raffles Medical tenders for HK site to build hospital
        81 15 RAFFLES Medical Group’s wholly owned subsidiary, Medical Properties Ltd, has submitted a tender to develop a private hospital on the Aberdeen Inland Lot No 458 site in Hong Kong. The group said it hopes to add to Hong Kong’s overall healthcare
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      • Article
        Lock icon Kreuz wins US$13m contract of subsea project
        55 15 KREUZ Holdings Limited has won a US$13 million third-par-ty subsea project. The subsea service provider for the oil and gas industry will be providing subsea installation services in South-east Asia, in the third quarter of the year, for a period of three months,
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      • Article
        Lock icon Sysma launches IPO, seeks to raise $3.6m
        98 15 CONSTRUCTION services company Sysma Holdings has launched its initial public offering (IPO) at 28 cents per share, for the 18 million placement shares on offer. The group expects net proceeds of $3.6 million, with $3 million going into new inventory management facility and
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Expanding bandwidth for digital leadership
      1025 16  -  FROM THE DESK OF Dimitri Tsamados Partner at CTPartners RARELY has new technology had the kind of impact upon the business models of so many industries and corporate functions as has the advent of digital media. In some cases, such as publishing and print media,
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Back to the drawing board for Changi hub
      485 17  -  S’pore Sports Council seeks ideas, investors after motorsports plan derailed last year By Wang Xin Min wangxm@sph.com.sg HERE’S news that will make motorsports enthusiasts sit up: the Singapore Sports Council (SSC) is seeking ideas to develop the motorsports or lifestyle hub in
      FILE PHOTO  -  485 words
    • Article
      Lock icon Credit Suisse hosts rich clients’ kids to investment programme
      417 17  -  Participants from 16 countries attend seminars over 6 days By April Chye capril@sph.com.sg IN its first Asian outing, Credit Suisse last week held an exclusive investment programme for 35 children of its top Private Banking customers here. Previously held in Zurich
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    • Article
      Lock icon Singaporeans among poorest tippers in region
      246 17  -  By Kenneth Foo kenfoo@sph.com.sg LOCAL consumers here may need a tip or two about tipping from their Asian counterparts. A recent MasterCard survey has found that Singaporeans are among the most tight-fisted about gratuities in the region, as about two-thirds were found to begrudge
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    • Article, Illustration
      Lock icon Continental opens $36m R&D centre
      551 18  -  Facility is part of its strategy to strengthen its presence in Asia By Wang Xin Min wangxm@sph.com.sg DRIVERLESS cars with constant Internet access and smart navigation systems such gizmos out of science fiction movies could soon become a reality here, with the opening of international
      551 words
    • Article
      Lock icon Sex-for-grades scam: NUS begins probe
      377 18 THE National University of Singapore (NUS) said it has initiated an investigation into law professor Tey Tsun Hang and suspended him from active duty, following the AttorneyGeneral’s decision to file charges against him. “The University takes a very serious view of breaches of its regulations.
      377 words
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  • WORLD
    • Article, Illustration
      Lock icon U nemployment in Spain edges up to 24.6% in Q2
      540 19 53,500 more people join the ranks of the unemployed between April and June AP Madrid THE number of people out of work in Spain shows no sign of dropping, with almost one in four people unemployed and half of those
      AP; REUTERS  -  540 words
    • Article
      Lock icon Apple to buy fingerprint tech developer AuthenTec
      355 19 Deal may ratify iPhone in mobile payments market Reuters New York APPLE has agreed to buy fingerprint sensor technology developer AuthenTec Inc for about US$356 million, in a deal that could put its iPhone at the centre of the emerging mobile payments market.
      Reuters  -  355 words
    • Article
      Lock icon Petronas raises offer for Progress
      154 19 Reuters Bangalore PROGRESS Energy Resources Corp said that Malaysia’s state oil company Petronas has agreed to raise its offer to buy the Canadian natural gas producer by 8 per cent after Progress received an unsolicited proposal from a third party. Petronas, which in June launched
      Reuters  -  154 words
    • Article
      Lock icon China steps up stimulus spending at local level
      518 20 Inland city of Changsha announces plans for a whopping US$1 30b in investment projects AP Shanghai CHINA is stepping up stimulus spending at the local level in an effort to counter its economic slowdown, with one inland city announcing plans for a
      AP  -  518 words
    • Article
      Lock icon Libor rigging probe underway in US, Britain
      668 20 US Justice Dept readies indictments; UK Serious Fraud Office opens criminal investigation Bloomberg New York EVEN as the US Justice Department is preparing to file charges this fall against traders from several banks in the global probe of interest rate rigging, UK prosecutors
      Bloomberg  -  668 words
    • Article
      Lock icon Nomura in global retreat amid leak scandal?
      471 21 Indication comes as the bank appoints its domestic brokerage head as chief exec Bloomberg Tokyo NOMURA Holdings Inc’s appointment of domestic brokerage head Koji Nagai as the new chief signals a retrenchment into its home market as Japan’s biggest investment bank reels from
      Bloomberg  -  471 words
    • Article, Illustration
      Lock icon SamsungQ2 net at record 5.2t won
      562 21 AP Seoul SAMSUNG, the world’s largest technology firm by revenue, reported another record-high quarterly profit as customers flocked to its Galaxy smartphones, helping it outdo rivals even at a challenging time for the global tech industry. Samsung Electronics Co said yesterday its net profit
      AP; BLOOMBERG  -  562 words
    • Article
      Lock icon Drugmakers’ pacts may face review after ruling
      476 21 NYT Washington IT would seem a business executive’s dream: legally pay a competitor to keep its product off the market for years. Congress has failed to stop it but for more than a decade, generic drugmakers and big-name pharmaceutical companies have been winning
      NYT  -  476 words
    • Article, Illustration
      Lock icon Meet the new Mr Swiss franc: Fritz Zurbruegg
      747 22 Economist is taking over arguably the most important job at the Swiss National Bank Reuters Zurich NEW to the grey-suited world of central banking, Fritz Zurbruegg is taking over arguably the most important job at the Swiss National Bank (SNB): keeping a
      Reuters  -  747 words
    • Article
      Lock icon Japan consumer prices fall in June
      441 22 Retail sales miss forecasts, adding to fears about economy Bloomberg Tokyo JAPAN’S consumer prices unexpectedly fell and retail sales missed analysts’ forecasts, adding to evidence that the economy’s expansion is faltering as gains in the yen and austerity measures in Europe hit exports. Consumer
      Bloomberg  -  441 words
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  • Article
    Lock icon SGX
    8073 23 Transaction date: Jul 27 Transaction date: Jul 27 Transaction date: Jul 27 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 12 18 66.8 0.4 2.9 57 7 3.5 A-Sonic 3.8
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  • Article
    Lock icon SGX CATALIST
    1753 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 $mil 23.5 12.1 t 800 Super 18 17.9 19.5 4.7 3.1 7 32.2 4 2.5 t AA Grp 3.6 2.9 3.8 3.5 139 30 t APStrategic
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  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 7 2 0 0 0 7 7 2 Manufacturing 47 56 40 9 4 11 56 60 51 Commerce 18 21 22 1 1 5 19 22 27 Tpt/Stor/Comms 13 17 11
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  • Article
    Lock icon BT SHARE INFORMATION SERVICE SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS
    773 26 For week beginning Jul 23 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) C&G Env Protect 26-Jul-12 C&G Hldgs (HK) Ltd Buy ***** na *****7 76.02 *****7 77.87 C&G Env
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  • Article
    Lock icon SECURITIES TRADING TURNOVER
    123 26 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 14,042 14,042 54,226 54,226 Manufacturing 278,220 67,360 345,580 278,996 1,522 280,518 Commerce 151,879 2,893 154,772 107,400 188 107,589 Tpt/Stor/Comms 85,716 11,944 97,660 162,025 3,481 165,507 Finance 21,103 944 22,047 114,962 362 115,324 Construction 46,724 3,405
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  • Article
    Lock icon LIFFE
    80 27 Jul 26 COCOA (£/tonne) Close Prev High/Low Sep 12 1585 1553 1595/1557 Dec 12 1567 1542 1575/1542 Mar 13 1545 1528 1553/1526 May 13 1545 1528 1554/1528 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2192 2132 2175/2175 Sep 12 2209 2149 2217/2149 Nov 12 2179 2141 2192/2139 Jan 13 2139
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  • Article
    Lock icon METALS
    70 27 Jul 27 GOLD(US$/oz) Jul 26 Jul 27 Hong Kong 1612.50 1626.00 Hong Kong Jul 25 Jul 26 London 1599.45 1613.39 1600.25 1614.61 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 34.68 34.03 Source: UOB PLATINUM/ Lon (US$/oz) Jul 26 Close Previous PM Fix 1408.00 1396.00 AM Fix 1401.00
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  • Article
    Lock icon PALM OIL
    60 27 Jul 27 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 2895.0 2855.0 2910.0 2881.0 440 3610 Sep 12 2894.0 2869.0 2920.0 2880.0 1529 ***** Oct 12 2905.0 2882.0 2930.0 2891.0 ***** ***** Nov 12 2914.0 2890.0
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  • Article
    Lock icon GOVERNMENT SECURITIES
    92 27 Jul 27 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 25-Oct-12 0.23 6-Month BS*****Z 24-Jan-13 0.23 0.17 0.17 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-14 100.12 5-Year N*****0Z 2.375
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  • Article
    Lock icon INTERBANK CURRENCY RATES
    154 27 Jul 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3046 1.3059 1.0420 1.0425 Canadian dollar 1.2392 1.2404 0.9902 0.9898 Euro 1.5367 1.5378 1.2274 1.2276 NZ dollar 1.0041 1.0060 0.8020 0.8031 Sterling pound 1.9629 1.9644 1.5678 1.5681
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  • Article, Illustration
    Lock icon SMX MARKET UPDATE
    150 27 As on 26 July 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1619.30 1601.50 1615.20 135 INDIA GOLD (E-GOLD) FUT AUG2012 537.60 531.50 536.15 2096 GOLD FUT OCT2012 1617.30 1610.90 1617.50 36 INDIA GOLD (E-GOLD) FUT OCT2012 534.20 534.15 543.00
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    Lock icon CHICAGO BOT
    103 27 Jul 26 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 12 1655.75 1694.25 1697.00 1648.75 Sep 12 1596.50 1640.50 1642.00 1587.75 Nov 12 1567.50 1615.50 1615.00 1561.50 Jan 13 1555.00 1598.50 1597.75 1548.75 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Aug 12 51.68 52.24 52.35 51.50
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  • Article
    Lock icon OIL
    68 27 Jul 26 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 105.33 2.36 WTI (Near Mth) 89.51 0.65 Dubai (1-Mth F) 100.20 0.05 Tapis blend 105.90 -0.46 Minas 106.50 -0.46 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 91.11 -0.50 Jet Kerosene 119.58 0.58 US$/barrel OpecOil Basket Price 100.21
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    Lock icon FOREIGN CURRENCY NOTE RATES
    118 27 Jul 27 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.330 1.267 Can dollar 1.268 1.208 Euro 1.572 1.498 Sterling pound 1.998 1.922 NZ dollar 1.029 0.980 US dollar 1.269 1.221 Local dollars to 100 units of foreign currency: Currencies Sell
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    Lock icon LONDON METALS
    69 27 Jul 26 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1846.00 1839.50 3 months 1876.75 1870.00 Copper, Grade A (US$/tonne) Cash 7464.50 7440.25 3 months 7468.75 7446.00 Lead (US$/tonne) Cash 1878.50 1843.75 3 months 1876.75 1855.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
    373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 26 Index Change Change Change Change Change Change World Preliminary 864.6 1.4 4.2 1.2 -0.2 1.8 3.5 EAFE Preliminary 689.6 1.8 1.1 2.2 -4.2 2.9 -0.7 Europe Preliminary 1042.0 2.4 1.5
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    Lock icon STOCK MARKETS
    2 27
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  • PERSPECTIVE
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      Lock icon Olympics: Why is London bothering?
      987 28 / 29  -  The Games aren’t a singular defining event for Britain like Japan, Korea and China, and a multicultural London hardly needs Olympic endorsement. By Bill Rylance By Bill Rylance ~Bill Rylance is CEO of Singapore-based management and communications consultancy WATATAWA. He was global communications adviser to
      AFP  -  987 words
    • Article
      Lock icon Uncertainty over oil prices leaves Opec in the driver’s seat
      893 28 / 29  -  To ensure efficient, economic and regular supply, it must resist the temptation to cut back production By G Panicker ~The writer was formerly with BT’s foreign desk THE oil price was forecast to rise to calamitous heights this year. If
      893 words
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  • WEALTH INVESTING
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      Lock icon More than a roof over their heads
      1549 30 / 31  -  The Fed’s ultra-low interest rates exacerbate the risks of property bubbles across the globe. By Andrew Blackman, Kelvin Wong and Klaus Wille By Andrew Blackman, Kelvin Wong, Klaus Wille Bloomberg JEAN Liu’s plan to buy a Hong Kong apartment was derailed by the
      Bloomberg; BLOOMBERG FILE PHOTO  -  1,549 words
    • BROKERS’ TAKE
      • Article
        Lock icon Parkson Retail Asia
        422 30 / 31 Outperform CIMB Research July 27 July 27 close: (not traded, July 26 close at $1.42) PARKSON Retail Asia’s (PRA) latest acquisition in Sri Lanka adds little to earnings given its small size, but extends the company’s geographical footprint beyond South-east Asia into the Indian subcontinent. We continue
        422 words
      • Article
        Lock icon Sheng Siong Group
        394 30 / 31  -  Compiled by Conrad Tan Buy OCBC Investment Research July 27 July 27 close: $0.465 THERE were no surprises in Sheng Siong Group’s Q2 2012 results. Revenue grew 5.2 per cent y-o-y to $146.9 million while net profit inched lower by 2 per cent y-o-y to $7 million.
        394 words
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      Lock icon Seeking more ultra-high net worth clients
      927 32  -  JP Morgan Private Wealth Management’s aims keeping banker-client ratio small, true team approach. By Genevieve Cua By Genevieve Cua JP MORGAN Private Wealth Management has carved a niche for itself in the ultra-high net worth space in Singapore and Asia, catering to clients with
      927 words
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      Lock icon Emerging markets lift LVMH, Gucci
      773 33 Rising wealth in Asia, especially China, and Latin America make up for slowing growth in Europe and US Bloomberg Paris BOOMINGdemand for luxury g oo d s i n emerging markets such as China fuelled sales and profit growth at LVMH Moet Hennessy Louis Vuitton
      Bloomberg; REUTERS  -  773 words
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  • WEALTH REAL ESTATE
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      Lock icon Prologis may sell US$800m of properties by year-end
      257 34 It is riding on growing investor demand for industrial buildings Bloomberg Chicago PROLOGIS Inc, the world’s largest warehouse owner, may sell about US$800 million of US properties by the end of 2012 amid growing investor demand for industrial buildings, co-chief executive officer
      Bloomberg  -  257 words
    • Article
      Lock icon Househunt
      619 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JUNE 27 AND JULY 3, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 3 NON-LANDED Alexis Apt 02/07/2012 FH 527 603 1144 District 4 NON-LANDED The Interlace Apt 29/06/2012 99
      619 words
    • Article
      Lock icon HSBC, Hines units buy City of London buildings
      228 34 Bloomberg London HSBC Alternative Investments and a unit of real estate asset manager Hines bought the Broadgate West office buildings in the City of London financial district. The 42,000 square metre complex is fully occupied and leased, the bank said in a
      Bloomberg  -  228 words
    • Article, Illustration
      Lock icon URA provisional permission given For several works
      474 35  -  They include two mega developments in Marina and Rochor/Ophir Road locations By Kalpana Rashiwala kalpana@sph.com.sg Singapore SEVERAL large projects bagged Urban Redevelopment Authority’s (URA) provisional permission (PP) in the second quarter of this year, including the two mega developments in the Marina and
      474 words
    • Article
      Lock icon HDB resale prices hit new high in Q2
      685 35  -  By Mindy Tan tanmindy@sph.com.sg RESALE prices for Housing Development Board (HDB) flats hit a record high in the last quarter on the back of a 19 per cent jump in resale transactions. According to the latest data released by HDB, resale transactions
      685 words
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      139 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. FOR 2012 AUDEMARS PIQUET CREATES A TRIBUTE TO THE WORLD’S GREATEST FOOTBALL ARTIST AND BRAND AMBASSADOR, LEO MESSI. THIS LIMITED-EDITION PIECE REPRESENTS A NEW GENERATION OF ROYAL OAK, NOW IN 41 MM DIAMETER. THE SIGNATURE OCTAGONAL BEZEL IS HERE FORMED IN
      139 words
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      67 1 LivingBTTHE BUSINESS TIMES WEEKEND JULY 28-29 2012 GUEST CHEF Taking it to the edge L6 GRAND SLAM The Grandstand is set to bring the buzz back to the old Turf City at Bukit Timah L2-5 PERSONAL SPACE Going for comfort L10-11 TURF CITY PHOTO BY COGENT LAND CAPITAL HEALTH Silent
      67 words
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Grand slam
        1676 2 / 3  -  The Grandstand is set to bring the buzz back to the old Turf City at Bukit Timah. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg MOVE over, Dempsey Hill. The next destination hot spot could well be where horses used to race. Turf City at Bukit Timah
        ARTIST IMPRESSION; PHOTOS BY JOHN HENG  -  1,676 words
      • Article, Illustration
        Lock icon A little slice of Italy
        1094 4  -  Despite its new location at Turf City, Ristorante Da Valentino is still pulling in patrons eager for a taste of its authentic Italian fare. By Jaime Ee By Jaime Ee jaime@sph.com.sg VALENTINO Valtulina is on his cellphone. “Yes, yes, have you found the place yet?
        PHOTOS BY JOHN HENG  -  1,094 words
      • Article, Illustration
        Lock icon TURF’S UP
        898 5  -  When it officially opens by Q4 of this year, The Grandstand will have at least 25 new tenants. While most of the details are still under wraps, here is a sneak peek of what is on offer. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg Hansang Korean
        898 words
      • Article, Illustration
        Lock icon Taking it to the edge
        969 6  -  Move aside, extreme sports. Two Michelin star Hong Kong chef Alvin Leung plans to up the buzz in the British capital with his extreme Chinese cuisine. By Debbie Yong guest chef By Debbie Yong debyong@sph.com.sg LONDON may well be off to a banging start in
        BO INNOVATION  -  969 words
    • TRAVEL
      • Article, Illustration
        Lock icon Hope and change in the air
        928 7  -  LETTER FROM HO CHI MINH CITY Adam Pervez Chief Happiness Officer, Happinessplunge.com ~The author is a former corporate executive with Schlumberger and Siemens, who embarked on a new career doing voluntary work around the world A MAN approaches with a smile so wide and
        928 words
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        Lock icon Under Hanoi’s spell
        1089 8 / 9  -  Travellers voted to crown Ha Long Bay one of the new seven natural wonders. By Helmi Yusof By Helmi Yusof helmi@sph.com.sg SOUTH-EAST Asia lays claim to many spectacular islands dotting its map. But even the most jaded sun worshippers will stand awestruck at the sheer magnificence of
        HELMI YUSOF; PHOTOS: BALCONY MEDIA, SOFITEL  -  1,089 words
      • Article, Illustration
        Lock icon Indulge in Vietnamese delight
        499 8 / 9  -  By Helmi Yusof helmi@sph.com.sg VIETNAMESE food is glorious a fact unknown to most Singaporeans who are hard-pressed to find truly good Vietnamese restaurants in this country. Here are three in Hanoi to check out: Cha Ca La Vong 14 Cha Cá, Hoan Kiem District This is
        PHOTOS: HELMI YUSOF; BALCONY MEDIA  -  499 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Going for comfort
        1113 10 / 11  -  Designer furniture store owner Lim Choon Hong has moved on from the minimalist taste of his earlier years when furnishing his home. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg LIM Choon Hong owns Xtra, one of the largest designer furniture stores in Singapore,
        PHOTOS BY YEN MENG JIIN  -  1,113 words
    • KEPPEL CLIPPER ROUND THE WORLD
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        Lock icon Race of a lifetime
        1670 12 / 13  -  Vincent Wee sums up the thoughts and feelings of the Singapore Clipper team as they complete their epic year-long adventure Vincent Wee btnews@sph.com.sg THE Singapore Clipper has gone out on the 2011-2012 edition of the Clipper Round the World Yacht Race and done something no other
        PHOTOS: ONEDITION; HOWIE CHOO; ONG WEE JIN/MY PAPER  -  1,670 words
    • HEALTH
      • Article
        Lock icon High-carb diet may raise breast cancer risk
        359 14 Study of nearly 335,000 European women found a link between high glycemic load and ER-negative cancers Reuters New York OLDER women who eat a lot of starchy and sweet carbohydrates may be at increased risk of a less common but deadlier form of
        Reuters  -  359 words
      • Article
        Lock icon wine&dine
        1127 14 with BTWeekend Triple Three Named after the address of the hotel 333 Orchard Road, Triple Three is Mandarin Orchard hotel’s award-winning buffet restaurant, featuring eight culinary stations and a plethora of Asian and international delicacies, prepared fresh daily for one’s dining pleasure. In addition to the juiciest sashimi and
        1,127 words
      • Article, Illustration
        Lock icon Silent killer
        770 15  -  Hepatitis sufferers display symptoms of the malaise only in its advanced stages. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg Hepatitis c isn’t one of the conditions you hear about often in Singapore, seeing as Hepatitis B and A are much more common here. owever, there is still a
        JASON QUAH  -  770 words
    • GOLF
      • Article, Illustration
        Lock icon Back in the League
        356 16 / 17  -  The Business Times Corporate Golf League 2012 marks its third run in rousing style. By Justine Moss btnews@sph.com.sg THE third edition of the Business Times Corporate Golf League teed off in fine style with a networking night Livewire, MBS, on July 19, which was sponsored by
        PHOTOS: GOLF DIGEST  -  356 words
      • Article, Illustration
        Lock icon Park Hotel Group guns for trifecta
        457 16 / 17  -  By Justine Moss PARK HOTEL GROUP, one of the region’s most progressive hospitality groups which manages, owns and develops Park branded hotels around Asia Pacific (three of them in Singapore), has been a staunch supporter of the Business Times Corporate Golf League since the
        457 words
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        Lock icon Picket & Rail’s debut
        258 16 / 17  - Picket Rail’s debut JM FOR Picket Rail, the opportunity to expose their retail brand in addition to making new friends in the hope of leading to more business, prompted the “thinking people’s furniture” brand to come on board this year as a first-time sponsor. Having operated in Singa- pore since
        258 words
    • MOTORING
      • Article, Illustration
        Lock icon Radical RX
        743 18  -  The car now gets the distinctive spindle grille and arrowhead lamps with LED running lights. By Samuel Ee samuelee@sph.com.sg THE Lexus RX range has undergone a radical face-lift. In line with the Japanese luxury carmaker’s new design direction as characterised by the Lexus L-finesse philosophy this large sport-utility
        743 words
      • Article, Illustration
        Lock icon SURE-FIRE ZAFIRA
        562 19  -  It has been redesigned with distinctive boomerang headlights and a steeply raked windscreen. By Samuel Ee samuelee@sph.com.sg THE third generation of Opel’s sporty MPVhas gone upmarket as part of the German carmaker’s move to reposition itself as a premium brand within the mass market segment. While the first
        562 words
      • Article, Illustration
        Lock icon Hungry in Hungary
        551 20  -  Alonso eager to extend his winning streak ahead of Aug break. f1 watch By Samuel Ee samuelee@sph.com.sg THANK goodness for simple scandals like backstabbing and fraud in Formula One. If F1 were anything like Singapore, just imagine how distracting the shenanigans will be. For example, an F1
        REUTERS; PHOTOS: REUTERS, AFP  -  551 words
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      44 4 ~Ristorante Da Valentino, 200 Turf Club Road #01-19. Tel: 6462-0555. It is located at the southern end of the grandstand. If you enter Turf Club Road from Dunearn Road, turn right before the grandstand and the car park is in front of the restaurant
      44 words
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      32 6 HOME NEE S Get comfortable on a new sofa. To find out more, turn to CLASS 108 in CATS Classified in The Straits Times now. WAT3 BUY IT* SELL IT* FIND IT
      32 words
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  • Page 15 Advertisements
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      258 15 HEART,STROKE&CANCERCENTRE “A medical centre of Singapore Heart, Stroke and Cancer Centre” PreservingHealthandLongevity Expertise in the Prevention, early Detection and Management of Heart disease, Stroke and Cancer Prevent Sudden Death If you suspect heart disease or have risk factors such as high cholesterol, high blood pressure, diabetes mellitus, smoking or a
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      66 16 / 17 MAIN SPONSOR CO-ORGANISED BY HOLE-IN-ONE SPONSORS FINAL ROUND DINNER SPONSOR SPONSORS DATES VENUES Aug 2 Sentosa Golf Club, Serapong course Aug 16 Tanah Merah Country Club, Garden course Aug 30 Laguna National Golf Country Club, Masters course Sept 12 Orchid Country Club, Vanda/ Aranda course Sept 27 Raffles Country Club,
      66 words
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