The Business Times, 22 May 2010

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Microfilm: NL30669
Total Pages: 46
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg MAY 22-23, 2010 S$1.00 MICA (P) 124/08/2009
    12 words
  • Article
    Lock icon Govt bumps up land supply to cool market
    959 1  -  Record 14,405 private homes can be built on land offered this year; move likely to immediately douse sales, and tame prices ahead By Kalpana Rashiwala, Uma Shankari kalpana@sph.com.sg shankari@sph.com.sg Singapore THEgovernmentyesterdaydra-matically increased the supply of land for the second half of this
    959 words
  • Article, Illustration
    Lock icon Historic finance reform bill passed amid ghosts of crises past
    687 1 AFP NYT Washington AS plunging markets brought back memories of the recent crisis, US President Barack Obama managed to push through Senate the most sweeping overhaul of financial industry rules since the Great Depression of the 1930s. By a 59-39
    AFP; NYT; REUTERS  -  687 words
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      155 1 the business www.businesstimes.com.sg the raffles conversation PIET MOERLAND, CHAIRMAN OF RABOBANK GROUP 10-11 world cup The winner is CAN econometrics actually improve one’s appreciation of the World Cup specifically, the 2010 World Cup next month? 2 great turnaround SIA posts $278m Q4 earnings SINGAPORE Airlines reversed nine months of losses
      155 words
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      12 1 DINING Michelin muscle L6-7 WEALTH Getting help from a money coach 30-31
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  • TOP STORIES
    • Article
      Lock icon MARKETS
      132 2 STI 2,701.20 (-52.31) STI FUTURES 2,701.00 (-53.00) SIMSCI 321.99 (-6.02) SIMSCI FUTURES 321.70 (-6.00) STOCKS Friday Change KL COMP 1,285.73 -18.43 NIKKEI 225 9,784.54 -245.77 HANG SENG Closed SET Closed JAKARTA 2,623.22 -71.03 MANILA 3,179.36 -34.44 KOSPI Closed SHENZHEN B 529.56 +2.83 MUMBAI IND 16,445.61 -74.07 12 noon EDT
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    • Article, Illustration
      Lock icon Want to know who’s going to win the World Cup?
      775 2  -  Add a dash of econometrics to the mix for helpful pointers, says PwC By Michelle Quah michquah@sph.com.sg Singapore SAY “econometrics” and you risk losing an audience but say “World Cup” and you could have legions of football fans offering to
      775 words
    • Article, Illustration
      Lock icon SIA turns tough year around in last quarter
      698 4  -  Net earnings of $278m posted for the quarter and $216m for full year By Ven Sreenivasan ven@sph.com.sg Singapore LIKE an athlete bursting through the final lap, Singapore Airlines reversed nine months of losses with a fine final quarter to maintain its track
      BLOOMBERG  -  698 words
    • Article
      Lock icon Watch out, it is starting to look like Sept 2008 all over again
      752 4  -  By Andrew Marks btworld@sph.com.sg New York THE great “de-risking” of 2010 has seemingly just gotten underway, and with the ghosts of September 2008 lurking, it looks like plenty more is in store for equity markets in coming
      752 words
    • Article
      Lock icon Residential sites expected to be sought after
      913 6/7  -  Many of the 27 sites on GLS programme for H2 2010 are near MRT stations, popular launches By Uma Shankari shankari@sph.com.sg Singapore THE government has done its homework to make sure that the residential sites on the latest instalment of the government land
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    • Article
      Lock icon S’pore economic record ‘rewritten’ with latest GDP rebasing
      655 6/7  -  By Anna Teo anna@sph.com.sg Singapore THE worst year on record for the Singapore economy, post-Independence, it turns out, is not 2001 or even 2009 but 1998 when GDP sank 2.1 per cent during the Asian financial crisis. Following a recent updating of
      655 words
    • Article, Illustration
      Lock icon Hunting down an armchair for critics
      512 6/7  -  saturday soapbox| By Jamie Lee leejamie@sph.com.sg NOT so long ago, an off-duty regulator attending an awards dinner organised by The Business Times said loud enough for all to hear that the paper is led by people who “stand aloof and critique”. Putting it plainly,
      512 words
    • Article
      Lock icon Stanchart to boost workforce in Singapore
      403 8  -  Addition of 2,000 staff planned by end-2012 across all businesses; new office launched in Changi Business Park By Conrad Tan conradt@sph.com.sg Singapore STANDARD Chartered Bank plans to add 2,000 people to its 6,000-strong staff in Singapore by end-2012 as it expands its business here,
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    • Article, Illustration
      Lock icon Banker takes a walk on the wild side with wealthy Asians
      924 8 Bloomberg Singapore NOMURA Holdings Inc’s head of Asia-Pacific ex-Japan loan syndication, Jose Cortes, has quit his job to work full-time on taking wealthy, travel-hungry Asians to safari destinations in Africa, such as Rwanda and Gabon. After starting luxury-tour organiser,
      Bloomberg; BLOOMBERG  -  924 words
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      117 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10,11 Companies 12-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-33 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-4,6-7 ClipperRace L5 Shopping L8-9 Travel L10-11 Home&
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      8 2 ??World Cup kick-off may knock stocks, Page 12
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      90 3 PATEK PHILIPPE GENEVE A rare chance to look inside the world of a family-owned watch company. Patek Philippe requests the pleasure of your company at an exclusive exhibition of 250 rare and legendary timepieces from the Patek Philippe Museum Geneva, Grand Complications and the new 2010 collection. The St. Regis
      90 words
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      98 5 SINGAPORE SYMPHONY ORCHESTRA EMMANUEL PAHUD 27 Nov 10 KRISTjAN JARVI 28 Jan 11 LANG LANG 5 Oct 10 MIDORI 23 Apr 11 w V N FA JUL I fcWJ 1 ,1 iff LISE DE LA SALLE 11 Sep 10 MlSCHAMAISKY 1 Oct 10 RENAUD CAPUGON 26 Feb 11 SINGAPORE SYMPHONY
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      111 6/7 Meier Suites Exclusive Premium Freehold Development r J■jk. I A 55 Exclusive Freehold Suites with 114 Carpark Lots. Nestled in the tranquil enclave of prime district 15 at Margate Road, off Meyer Road. Premium Suites ranging from 1798-2228 sqft, primarily in 3 4 bedroom configuration. 4 Luxurious Sky Suites with
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | May 17-21, 2010
      • Article
        Lock icon Economy may jump 10.6% in Q2: BT-UniSIM
        55 9 AFTER six months of contraction, all indicators of actual business activity shot into expansion mode in Q1, with orders and new business staging a particularly sharp recovery. Optimism over business prospects for the next six months also spread to more of the 155
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      • Article
        Lock icon Greece mulls taking action against US banks
        37 9 GREECE is considering taking legal action against US investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said. No banks were mentioned by name.
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      • Article
        Lock icon Hurdles cleared, Pru ready to list in Asia
        62 9 AFTER a brief delay, Britain’s largest life insurer Prudential is pushing ahead with plans for a secondary listing of its shares here, and a second primary listing in Hong Kong. This follows the crucial go-ahead from the UK regulator for its proposed
        62 words
      • Article
        Lock icon MAS proposes changes to code governing unit trusts
        56 9 THE Monetary Authority of Singapore has proposed changes for the unit trust industry to give more protection to investors. The proposed changes to the Code on Collective InvestmentSchemes –commonly known as unit trusts “aim to provide clarity and to increase the flexibility
        56 words
      • Article
        Lock icon Singapore, Jakarta to boost efforts against terrorism
        51 9 SINGAPORE and Indonesia plan to set up a new working group to strengthen their cooperation in counter-terrorism efforts, Prime Minister Lee Hsien Loong said on Monday. Indonesian President Susilo Bambang Yudhoyono proposed the idea during a day-long retreat yesterday and Mr Lee embraced
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      • Article
        Lock icon Singapore not a top draw for leading retailers
        64 9 A CB Richard Ellis survey of 294 of the world’s top retailers has found that just 39 per cent of them are in Singapore a smaller percentage than in rival Asian cities Hong Kong (43 per cent), Beijing (41 per cent), Tokyo
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      • Article
        Lock icon Tighter EU rules could drive hedge funds to Singapore
        81 9 THE Republic is likely to draw more hedge funds after European Union lawmakers approved a controversial proposal to force hedge-fund managers outside the EU to reveal more details of their operations before they are allowed to market their funds to EU
        81 words
      • Article
        Lock icon Thailand shuts down its banks as Bangkok burns
        77 9 THAILAND’S banks and its stock market will remain closed for the rest of the week as the country seeks to stop the flight of capital after Wednesday’s military action and rioting. The central bank says that such measures are for public safety
        77 words
      • Article, Illustration
        Lock icon BURNT SHELL
        38 9 Firemen trying to extinguish fire at a shopping mall in Bangkok. Hours after Red Shirt leaders ended their rallies on Wednesday, supporters took to the streets, setting fire to malls and even the stock exchange REUTERS
        REUTERS  -  38 words
      • Article
        Lock icon MAS finds no similar signs of Goldman’s alleged wrongdoing
        66 9 IN the wake of the fraud charges against Goldman Sachs in the United States, the Monetary Authority of Singapore has not found the global financial giant engaged in similar alleged wrongdoing here. MAS deputy chairman Lim Hng Kiang told Parliament that
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      • Article
        Lock icon Growth in fast lane but European hump looms
        62 9 THE Ministry of Trade and Industry’s first-quarter economic report card shows spectacular revised growth figures: record 15.5 per cent year-on-year and 38.6 per cent quarter-on-quarter in seasonally adjusted, annualised terms. MTI notes that global economic recovery has become firmer and more broad-based
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      • Article
        Lock icon Global stock markets seem to smell blood
        44 9 FEARS that the damage to European economies would hurt the recovery in Asia, and doubts mounting over political will in Brussels to slash public spending and raise taxes pushed stocks lower across most of Asia on Thursday.
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    • NEXT WEEK | May 24-28, 2010
      • Article
        Lock icon US DATA
        50 9 May 24 April Existing home sales May 25 May Consumer confidence May 26 April Durable orders April New home sales May 27 Q1 GDP 2nd estimate Q1 GDP deflator 2nd estimate Initial claims Continuing claims May 28 April Personal income April Personal spending May U Michigan consumer sentiment
        50 words
      • Article
        Lock icon SINGAPORE DATA
        28 9 May 24 April Consumer Price Index May 26 April Index of Industrial Production May 27 April Producer and International Trade Price Indices Q1 Business Receipts Index
        28 words
  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      344 9 CRYPTIC CROSSWORD Across 1 Cleric upset a group of people (6) 4 What scores of young people are in? (8) 9 Mark breaks into church (6) 10 Lent is brought forward (8) 12 Current male desire (4) 13 Son in row sent back for further examination (5) 14 Is first
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    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      18 9 SATURDAY with Ludwig ‘I’m afraid that would only be around ¤60m if you consider the depreciating euro’s value...’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The socially responsible banker
      2349 10/11  -  socially responsibleAbanker Rabobank chairman Piet Moerland shares how the bank’s co-operative structure and agricultural grounding has kept it faithful to banking’s core purpose. By Conrad Tan By Conrad Tan PIET Moerland is friendly, with a slight professorial air when he speaks. That isn’t surprising: The chairman
      ARTHUR LEE  -  2,349 words
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      70 10/11 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.
      70 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Inflated calls won’t do: DBS Vickers
      433 12  -  By Jamie Lee leejamie@sph.com.sg Singapore GIVE up the glory of a big “sell” call if it is a contrarian call based on an inflated assessment of a stock, a senior analyst from DBS Vickers Securities told a news briefing yesterday. “The short-cut to getting
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    • Article
      Lock icon SGX liquidity boost for Pru share trading
      503 12  -  Exchange has arranged for ‘dedicated’ market makers to provide two-way bid/offer quotes to promote liquidity By Michelle Quah michquah@sph.com.sg Singapore ROLLING out the red carpet for its largest listing to date albeit a secondary one the Singapore Exchange (SGX) announced yesterday that it
      503 words
    • Article
      Lock icon World Cup kick-off may knock stocks
      397 12  -  By Jamie Lee leejamie@sph.com.sg Singapore THE Singapore Exchange (SGX) could get tripped by the upcoming World Cup as trading interest dives during the football frenzy, noted a DMG Partners Securities report yesterday. The European sovereign debt fallout could also dampen investment sentiment ahead, the
      397 words
    • Article
      Lock icon Local firms lag in fraud risk assessments
      491 13  -  Although they do well in reporting, probing suspected cases, they fare less well on the preventive front, survey finds By Michelle Quah michquah@sph.com.sg Singapore SINGAPORE companies may have put in place robust processes for reporting and investigating cases of suspected fraud, but they
      491 words
    • Article
      Lock icon Sembcorp launches tender offer for Cascal shares
      471 13  -  By Joyce Hooi joyceh@sph.com.sg Singapore SEMBCORP Industries has launched its tender offer forCascal’sshares,adayafter announcing that a United States district court has denied Cascal’s request for a preliminary injunction to block the offer. The tender, made through Sembcorp’s wholly owned subsidiary Sembcorp Utilities Pte
      471 words
    • Article, Illustration
      Lock icon Writeback boost for Bt Sembawang
      355 13  -  By Emilyn Yap emilyny@sph.com.sg Singapore THANKS mainly to a $40 million allowance writeback, property developer Bukit Sembawang Estates (BSE) turned in a net profit of $41.9 million for the fourth quarter ended March 31. The results were a turnaround from the net loss of $61.4
      355 words
    • Article, Illustration
      Lock icon The real reasons for the euro-led collapse
      930 14  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent READERS probably need no reminding of the reasons for this week’s 155-point or 5.4 per cent loss in the Straits Times Index to 2,701.2, so we’ll keepitbrief –acollapseintheeuro brought on by worries about Europe’s economic state which,
      930 words
    • Article
      Lock icon Tiger Airways awarded $4.7m in damages
      200 14  -  By Ven Sreenivasan ven@sph.com.sg Singapore TIGER Airways has won $4.7 million damages plus costs from its former ground-handling services provider Swissport. Tiger started legal action in March 2009 after Swissport gave notice that it was unilaterally terminating its service agreement from April 1, 2009
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    • Business briefing
      • Article
        Lock icon RSH assessing impact on its Thai stores
        54 14 RSH Ltd is assessing the financial impact of the damage to its Central World Plaza stores in Bangkok. RSH carries out its business in Thailand through its subsidiaries, which run seven stores there and two stores in Siam Paragon Shopping Centre. They have
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      • Article
        Lock icon United Flber null wins $55.5m contract
        61 14 UNITED Fiber System said subsidiary Poh Lian Construction has been awarded a $58.5 million contract by Prime Residential Development, a subsidiary of Kajima Overseas Asia. It is for an upmarket residential project located near Nathan Road and Bishopgate junction. The project will commence on
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      • Article
        Lock icon SMX to launch gold futures contract
        51 14 THE Singapore Mercantile Exchange (SMX) said yesterday that it will launch Singapore’s first gold futures contract with physical settlement. It will be the first to be rolled out when SMX moves into pilot testing in June and July, and when it goes live in
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  • Page 12 Advertisements
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      28 12 SI* -s- Lianhe Zaobao Boss of C 0 Pharmaceutical on talent scouting if to ilk "rU 0 'J A it To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      28 words
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      66 14 STRATEGICALLY LOCATED V OFFICE SPACE AT 3 RAFFLES PLACE, BHARAT BUILDING, SINGAPORE CENTRALLY LOCATED: ADJACENT TO REPUBLIC PLAZA TRANSPORTATION: Ell BHARAT BUILDING TAXI STAND ATTHE ENTRANCE RAFFLES PLACE MRT STATION 1 (ONE) MINUTE WALKING UNFITTED UNIT: DESIGN IT TO YOUR SUITABILITY AND STYLE AIRCON: CENTRALLY AIRCONDITIONED FLOOR SPACE: 3597 SOFT
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Fraud: The moving target in Asia
      975 15 The battle against credit card fraud is an uphill one as its perpetrators employ more sophisticated techniques and the face of risk is ever changing from the desk of I PICKED up The Straits Times last month, and as I flipped through the pages,
      975 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon Incentives for commodity trading
      408 16  -  IE Singapore offers tax concessions for structured commodity financing By Felda Chay feldac@sph.com.sg IN A MOVE to make commodity trading here more attractive, International Enterprise (IE) Singapore will offer tax concessions to businesses involved in structured commodity financing (SCF) through its Global Trader Programme (GTP). Trade
      408 words
    • Article, Illustration
      Lock icon Public agencies tie up over Jilin food zone
      398 16  -  By Teh Shi Ning tshining@sph.com.sg SINGAPORE private-sector interest in developing a “food zone” in Jilin province in north-east China has led to collaboration between public agencies from the two countries. Jilin City’s municipal government signed several agreements with Singapore parties yesterday at
      ZAOBAO  -  398 words
    • Article
      Lock icon JY Pillay gets top award from NUS
      342 16 SINGAPORE Exchange (SGX) chairman JY Pillay was presented the Outstanding Service Award by the National University of Singapore (NUS) yesterday in recognition of his contributions to policymaking and the Singapore economy. The SGX chairman, who is also an adjunct professor at the Lee
      342 words
    • Article, Illustration
      Lock icon MASTER PLANNER AT WORK
      63 17 The year was 1967 when the nation was young and the economic issues pressing. In this photo that captures the spirit of a moment in Singapore’s history, Dr Goh Keng Swee is seen going over the development model for Jurong Industrial Park. JY Pillay, now chairman
      PHOTO: COURTESY JY PILLAY  -  63 words
    • Article
      Lock icon Dr Goh’s state funeral service tomorrow
      209 17 THE State Funeral Service of the late Dr Goh Keng Swee will be held at the Singapore Conference Hall tomorrow from 2.30 to 4pm. The service is only for family and invited guests. The proceedings will be telecast starting at 2pm on Channel News
      209 words
    • Article
      Lock icon No blanket phasing out of long bus routes: Transport Minister
      596 17  -  LTA responding to feedback on specific long routes with reliability issues By Samuel Ee samuelee@sph.com.sg THERE will be no blanket phasing out of long bus routes, the Ministry of Transport has reiterated. This follows an earlier clarification by the Land
      596 words
    • Article
      Lock icon Wholesale trade activities rise 1.8% in Q1
      256 18  -  By Teh Shi Ning tshining@sph.com.sg WHOLESALE trade activities within Singapore rose a seasonally adjusted 1.8 per cent in Q1 from Q4 last year, thanks to higher sales from the industrial and construction machinery, general wholesale, and chemicals and chemical products sectors. Growth had
      256 words
    • Article
      Lock icon Initiatives to boost eye-bank processes
      433 18  -  By Nisha Ramchandani nishar@sph.com.sg THE Singapore Eye Bank (SEB) and Singapore National Eye Centre (SNEC) are launching a series of initiatives aimed at boosting corneal donations and eye-banking processes, which will benefit the SEB as well as other Asian eye banks. Yesterday marked the kickstart
      433 words
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  • Page 18 Advertisements
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      916 18 :*AT=i NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg West LB Financial Accounts for the year ended 31 December 2009 (Incorporated in the Federal Republic of Germany) Group Balance Sheet Dec. 31,2009 Dec. 31,2008 millions millions ASSETS Cash and balances with central banks Loans and advances to banks Loans and advances to
      916 words
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  • WORLD
    • Article, Illustration
      Lock icon Limited damage to economy, says Thai minister
      673 19  -  Export-oriented manufacturing industries outside Bangkok scarcely affected by riots By Anthony Rowley btworld@sph.com.sg Tokyo THAILAND’s economy is likely to suffer only limited overall damage from recent riots in Bangkok that have left some 80 people dead but lasting stability can be restored only
      AFP  -  673 words
    • Article
      Lock icon US prepares to lift high-tech export curbs
      216 19 AFP Beijing THE United States may soon ease restrictions on some high-tech exports to China, US Commerce Secretary Gary Locke said yesterday a move that Beijing has demanded for years. US President Barack Obama last year ordered a full review of Washington’s export
      AFP  -  216 words
    • Article
      Lock icon British Airways suffers record losses
      287 19 Revenue down 11%; but BA expects to break even this year AFP London BRITISH Airways yesterday posted a record annual pre-tax loss of £531 million (S$$1,067 million) as sales slumped but forecast it would break even this year. BA, which faces a cabin crew strike
      AFP  -  287 words
    • Article, Illustration
      Lock icon Japan scheme to help bankroll growth industries
      550 21  -  BoJ to offer banks low-interest funds to lend to suitable industrial borrowers By Anthony Rowley btworld@sph.com.sg Tokyo THE Bank of Japan yesterday announced a scheme for financing development of growth industries in Japan whereby the central bank will offer banks low interest funds
      REUTERS  -  550 words
    • Article
      Lock icon Number of problem banks rising in US
      549 21 AP Washington THE number of troubled banks kept growing last quarter even as the industry as a whole had its best quarter in two years. The Federal Deposit Insurance Corp said on Thursday that the number of banks on its confidential “problem” list
      AP  -  549 words
    • Article
      Lock icon SEC to probe market makers for crash
      326 21 LAT-WP Washington THE Securities and Exchange Commission is looking at whether key financial firms broke securities laws when they stopped buying and selling stocks during the “flash crash” on May 6, helping fuel the historic plunge. SEC chairman Mary Schapiro said at a
      LAT-WP  -  326 words
    • Article, Illustration
      Lock icon EON Capital tabling Hong Leong Bank bid at EGM
      540 22  -  Major shareholders mostly in favour of selling despite independent advice By Pauline Ng btworld@sph.com.sg Kuala Lumpur THE board of EON Capital has decided that a bird in hand is worth two in the bush. Citing further consolidation and increasing competition from
      BLOOMBERG  -  540 words
    • Article
      Lock icon Malaysia to tackle subsidy cuts
      438 22 Reuters Kuala Lumpur MALAYSIA’S government is to meet next week in a bid to slash subsidy spending that has more than doubled since 2006 and last year helped push the country to its biggest budget deficit in over 20 years. The government of Prime Minister
      Reuters  -  438 words
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  • Page 20 Advertisements
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      58 20 9 -i Ln 7 > K i 1 "mi: /d i x '4 Fa jga l '< s v« i <*■ fc > 0 PukYingJur1 z g Sales Manager, Precision ODtical Precision Optical Singapore P5* *1 I K ■-z£s2 'A X> s 'I ■D 4 Get the best of both
      58 words
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  • SGX
    • Article
      Lock icon Transaction date: May 21
      9025 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 6 3148 8Telecom 15.5 unch 571 15.5 15 14.5 15.5 1.7 11.7 5 74.2 10 5.5 5834 A-Sonic 7 -0.5
      9,025 words
    • Article
      Lock icon SGX CATALIST
      1821 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 6.5 6 8 36.1 6.3 25 13 8538 t APStrategic 19 17 18 112.7 4 0.5 1501
      1,821 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 0 12 5 0 0 0 0 12 5 Manufacturing 21 108 53 5 6 14 26 114 67 Commerce 3 38 21 1 6 5 4 44 26 Tpt/Stor/Comms 1 35 7
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      832 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 17 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) United Industrial Corp 19-May-10 John Gokongwei Jr *Buy 1168 na *****7 35.61 *****5 35.69 United Industrial Corp
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      117 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 34,947 34,947 132,547 132,547 Manufacturing 353,731 19,146 372,877 379,651 838 380,490 Commerce 144,795 4,044 148,839 211,249 778 212,027 Tpt/Stor/Comms 180,700 1,362 182,062 322,978 178 323,156 Finance 36,771 36,771 288,060 288,060 Construction 44,433 23,268 67,701 9,692
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  • MARKETS
    • Article, Illustration
      Lock icon STOCK MARKETS
      97 27 YTD change: -6.78% 52-week high: 3,037.97 on April 15,2010 52-week low: 2,190.20 on May 22,2009 Source: Bloomberg YTD change: -10.64% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 16,740.20 on May 22,2009 (Chart shows Thursday’s index closing) Source: Bloomberg YTD change: -21.17% 52-week high: 3,478.01 on Aug 4,2009
      Source: Bloomberg  -  97 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      365 27 In local curr In S$ In US$ dy yr dy yr dy yr May 20 Index Change Change Change Change Change Change World Index Preliminary 794.4 -2.1 -4.6 -1.2 -7.6 -2.1 -8.2 ‡EAFE Preliminary 730.5 -1.7 -6.9 -0.7 -13.9 -1.6 -14.5 Europe Preliminary 1037.1 -1.9
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 May 21 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1616 1.1629 0.8245 0.8246 Canadian dollar 1.3213 1.3234 0.9379 0.9384 Euro 1.7625 1.7647 1.2511 1.2514 NZ dollar 0.9460 0.9477 0.6715 0.6720 Sterling pound 2.0278 2.0307 1.4394 1.4400
      154 words
    • Article
      Lock icon LIFFE
      77 27 May 20 COCOA (£/tonne) Close Prev High/Low Jul 10 2279 2269 2292/2258 Sep 10 2237 2231 2253/2219 Dec 10 2186 2183 2200/2172 Mar 11 2167 unch 2180/2155 COFFEE (US$/tonne) Close Pev High/Low May 10 1289 1291 1293/1280 Jul 10 1334 1336 1339/1318 Sep 10 1370 unch 1374/1352 SUGAR (US
      77 words
    • Article
      Lock icon CHICAGO BOT
      105 27 May 20 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 10 944.00 938.50 947.75 931.00 Aug 10 935.00 930.50 939.00 921.75 Sep 10 917.00 912.50 921.25 903.50 Nov 10 908.00 905.75 915.00 893.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jul 10 37.39 37.50 37.58
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      66 27 May 21 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 10 2492 2531 2537 2492 418 4839 Jul 10 2485 2511 2519 2468 2784 ***** Aug 10 2465 2491 2501 2450 6619 ***** Sep 10 2456 2480
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      Lock icon OIL
      75 27 May 20 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 71.26 -2.02 WTI (Near Mth) 68.63 -2.14 Dubai (1-Mth F) 72.59 -0.09 Tapis blend 79.10 0.35 Minas 78.55 0.30 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 73.67 -0.77 Jet Kerosene 83.00 -0.50 US$/barrel Opec Oil Basket Price
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      71 27 May 20 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1960.50 1970.25 3 months 1992.00 2002.00 Copper, Grade A (US$/tonne) Cash 6582.75 6473.50 3 months 6610.00 6505.00 Lead (US$/tonne) Cash 1714.25 1724.25 3 months 1745.00 1756.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne)
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      68 27 May 21 GOLD (US$/oz) May 21 May 19 Hong Kong unav1219.20 May 20 May 19 London 1188.*****4.55 1189.*****5.55 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.21 24.98 Source: UOB PLATINUM Lon (US$/oz) May 20 Close Previous PM Fix 1515.*****2.00 AM Fix 1561.*****2.00 Source: Thomson Reuters PLATINUM NYMEX
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  • PERSPECTIVE
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      Lock icon A change of fortunes
      938 28 / 29  -  In a dramatic reversal, the euro has fallen more than 20% from its peak in July 2008. By G Panicker 2008.By G Panicker panicker@sph.com.sg HOW times change. It was fashionable even as recently as January this year, to proclaim that the euro would emerge as the
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      Lock icon Will the euro survive?
      763 28 / 29  -  By Barry D Wood The writer is the former economics editor at Voice of America IT is ironic that in the same week obituaries are written for the euro currency, the European Central Bank is breaking ground on a futuristic headquarters in downtown Frankfurt. Some ask
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  • Wealth
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        Lock icon When money becomes a pressing issue
        1078 30 / 31  -  A money coach may be able to help you explore your relationship with money and gain insight into how to change your behaviour to achieve your financial goals Genevieve Cua gen@sph.com.sg Personal Finance Editor ARE you confused about money matters, bewildered that you can’t
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          135 30 / 31 Outperform CIMB-GK Research May 21 Close: $1.02 SWIBER and its consortium have received a letter of award from ONGC, India worth US$618 million. The work would comprise the design, engineering, procurement, fabrication, transportation, installation and commissioning of major platforms. We estimate er’sportion(transportationandinstallation) at 20-30 per cent of the
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          Lock icon Singapore Exchange
          156 30 / 31 Sell DMG Partners Securities May 21 Close: $7.50 THE recent plunge of global equities market has led to the Straits Times Index falling 10 per cent month-to-date. Although the average daily turnover (ADT) for April and the first 13 trading days of May have been robust at about
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          Lock icon Wilmar International
          408 30 / 31  -  Compiled by Conrad Tan Buy DBS Group Research May 21 Close: $5.54 WILMAR announced on May 20 the acquisition of four bulk carriers with capacity of 82,000 deadweight tonnes (dwt) each (Kamsarmax-class), to be built by Jiangsu Eastern Heavy Industry and Sainty Marine Corporation (each will deliver two
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        Lock icon Making buy-and-hold investing work
        1135 32  -  Go ahead and invest for the long haul, but lock in your profits once your targeted return is achieved wealth insights Vasu Menon Vice-President Wealth Management Singapore, OCBC Bank THEextremevolatili-ty in global stock markets over the past three years has raised questions about the wisd om
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        Lock icon A history of market bubbles and crashes
        1295 33  -  A market correction presents an opportunity to pick up good quality stocks. But do pace yourself show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder SO THE volatility is back. Yesterday, the Singapore market fell for
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    • WEALTH REAL ESTATE
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      67 34 Featuring the Prestige Homes Collection Marina Collection Sentosa Cove An Unrivalled lVlarina Experience To arrange for an appointment to view our show unit, please contact Gladis lHeng 9387 4624, George Tan 9792 8913 For other luxurious developments, please call 6836 3338 or search with us at savills Savills has more
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      26 36 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax
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      57 1 DINING Michelin muscle L6-7 SHOPPING Fancy footwork L8-9 LivingTHEBUSINESSTIMESWEEKEND |MAY22-*****0 BT THE BUSINESS TIMES WEEKEND MAY 22-23 2010 GOURMET IN THE 'HOOD Five -star pastries, all natural cake, premium ice cream in the heartland L2-4 TRAVEL Tapas and traditions L10-11 HOME GARDEN Best of both worlds L12-13 GADGETS Sound bites
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  • BT Living
    • DINING
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        Lock icon Fredo Galaxy
        602 2/3  -  #01-388, Block 46-3 Commonwealth Drive 9185 2932 Five-star pastries, authentic tacos, premium ice cream and all natural cake, right in the neighbourhood. BT Weekend samples some artisanal offerings that are close to home By Audrey Phoon THERE are some things that you are unlikely to see in certain
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        Lock icon Spruce Taqueria
        462 2/3  -  Phoenix Park, 320 Tanglin Road 6836 5526 Open Monday to Friday, 12pm to 3pm By Geoffrey Eu A HUMBLE taco stand in a remote corner of Tanglin Road would seem to be a culinary anomaly of sorts, but there’s plenty of simple appeal to be found in Spruce
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        Lock icon Blic Ice Cream Cafe
        385 2/3  -  Block 802 Tampines Avenue 4, #01-23 ?6786 0860 www.blic.sg By Geoffrey Eu IT took a certain amount of blind faith for Ben Chung and Larry Tan to open Blic (for Ben Larry Ice Cream) in faraway Tampines about four months ago, because neither had any experience
        PHOTOS BY ARTHUR LEE  -  385 words
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        Lock icon Chof Icon Nature Bakery
        405 4  -  5 Kampong Bahru Road ?9337 3900 www.cheficon.com By Geoffrey Eu btnews@sph.com.sg THERE’S certainly something to be said for taking an all-natural approach. Chef Icon Nature Bakery was started about a year ago by four pastry chefs who had a shared desire to make cakes and breads
        JOHN HENG  -  405 words
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        Lock icon wine & dine with BTWeekend
        1084 4 wine dine with BTWeekend Triple Three Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Triple Three is back. Named for the address of the hotel 333 Orchard Road it features a new Japanese-inspired international buffet spread, helmed by Japanese Executive Chef Shigeru Akashi. Embark on a culinary adventure with
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        Lock icon Michelin muscle
        1162 6 / 7  -  With the low-key openings of Santi and Guy Savoy at Marina Bay Sands come a new era of sophisticated dining in Singapore. By Jaime Ee By Jaime Ee jaime@sph.com.sg THE big boys have come to town, and from the looks of it, they’re making people sit up and
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        Lock icon Guy Savoy
        516 6 / 7  -  Casino Level 2, Marina Bay Sands 10 Bayfront Avenue ?6688 5554 By Audrey Phoon aphoon@sph.com.sg UNLIKE some of the other celebrity chefs who are opening restaurants here, Guy Savoy set his up with relatively little fanfare. There were no publicity visits, no rash of interviews with the media
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    • KEPPEL* CLIPPER ROUND THE WORLD
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        Lock icon This is it, the final stretch
        656 5  -  This last leg is also the longest, apart from the final transatlantic race. By Vincent Wee By Vincent Wee vincewee@sph.com.sg AFTER a short stop in sunny Jamaica, the Uniquely Singapore Clipper will start on the final leg home. This will take them from the
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        Lock icon Looking for new experiences
        448 5 UNIQUELY Singapore sponsor Keppel Corp’s representative on leg 7 is no stranger to water sports and has represented the country and won medals in other types of water sports and he brings this enthusiasm and drive to win with him to the last leg of the
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    • SHOPPING
      • Fancy footwork
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          820 8 / 9  -  looks at two luxur shoemake looks at two luxury shoemakers that stand out with their style and craftsmanship By Melissa Lwee MEN who know their shoes could do worse than fly to Paris just to visit J.M. Weston’s flagship boutique along Champs Elysees or Berluti’s which is nearby
          820 words
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          Lock icon Church’s
          674 8 / 9  -  By Natalie Koh natksl@sph.com.sg PIERCE Brosnan is perhaps one of Church’s most high profile customers, but you don’t need to have James Bond qualifications in order to wear shoes just like his. However, if you want a pair that’s customised to your specifications, you’ll have to wait a bit
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        Lock icon Stepping up a notch
        643 8 / 9  -  By Melissa Lwee mellwee@sph.com.sg MEN may not look at shoes the way women do, and keep a whole wardrobe of them to match with their daily outfits. All the more important then, that shoes have to be stylish, but also sturdy enough to withstand the rigours
        643 words
    • TRAVEL
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        Lock icon Tapas & traditions
        1919 10 / 11  - Tapas traditions Madrid, full of life, is just waiting to be savoured. By Joyceline Tully By Joyceline Tully btnews@sph.com.sg SALTY, gleaming strips of sardines propped on dainty, crusty toast. Oily, luscious slivers of jamon, radiant and red. Gambas, gambas and more shiny, briny gambas, fresh from Spain’s coasts. For food
        PHOTOS FROM SPANISH TOURISM BOARD AND JOYCELINE TULLY  -  1,919 words
    • HOME & GARDEN
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        Lock icon Best of both worlds
        1035 12 / 13  -  The Grahams’ home is an eclectic fusion of European and Chinese decor. By Geoffrey Eu personal space By Geoffrey Eu btnews@sph.com.sg WILLIAM Graham is an entrepreneur and a born storyteller, and it’s only fitting that the home he shares with wife Pauline reveals plenty about the
        PHOTOS BY YEN MENG JIIN  -  1,035 words
    • GADGETS
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        Lock icon SOUND BITES
        1201 14  -  Philips’ 2010 collection gives pride of place to sound quality. By Christopher Lim By Christopher Lim limchris@sph.com.sg NOTHINGbrings movies to life like a home theatre audio setup, but those same systems have often left audiophiles out in the cold because they have been geared more to replicating explosions
        1,201 words
    • ARTS FEST
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        Lock icon Toy story
        596 15  -  Japanese play Y o’clock is a richly entertaining hour-long emotional rollercoaster. By Dylan Tan By Dylan Tan btnews@sph.com.sg LEFT to their own devices, children are natural storytellers and fantasists often spinning innocent yarns of make-believe and playacting them through toys. Japanese theatre director, Chiharu Shinoda, knows this only
        596 words
      • Article
        Lock icon Getting ahead through The Beautiful Game
        623 15  -  By Lee U-Wen leeuwen@sph.com.sg BARELY 10 minutes into the start of the show, the buff men on stage ripped off their T-shirts and jeans, revealing washboard abs and a toned physique that would have given most Calvin Klein models a decent run for their
        623 words
    • SPORT
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        Lock icon On the brink of making history
        615 16  -  no holds barred| Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor HAVING steamrolled every opponent laid before them in their domestic leagues, the all-conquering champions of Italy and Germany willnowmeetin clubfootball’sshowpiece event tonight, with both standing on the brink of a historic treble of titles.
        PHOTOS: AP  -  615 words
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        Lock icon Red light buccaneers back in the big time
        845 16 Reuters Hamburg THE St Pauli district of Hamburg is famous for prostitution, pop music and a pirate flag that will fly over the top German football league again next season, right on cue for the centenary of a uniquely popular club. Tens
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    • GOLF
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        1034 17  -  More golfers have turned to Pilates and included it in their overall fitness and well-being regime. By Justine Moss By Justine Moss btnews@sph.com.sg FOR professional golfers, yoga, workout sessions at the gym and hundreds of hours at the driving range were once the key components
        PHOTOS BY RORY DANIEL  -  1,034 words
    • MOTORING
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        Lock icon HIGH 5
        796 18/19  -  From steering to control, the new BMW 5 Series is nothing short of impressive. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE latest edition of the quintessential executive express has arrived and so far, it is nothing short of impressive. The new BMW 5 Series is wider, longer
        796 words
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        Lock icon driving notes
        306 18/19  -  By Samuel Ee samuelee@sph.com.sg Grand Cru Lexus LEXUS will combine the unique qualities of the pet-rol-electric hybrid limousine with the delicious wines from Burgundy’s Maison Lucien Le Moine on Monday evening at the Mandarin Oriental hotel. The Japanese luxury carmaker will show off the LS Hy- brid and
        306 words
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        Lock icon Aircap for better hair
        519 20  -  Experience a draught-free ride in the new Mercedes-Benz E-Class Cabriolet. By Samuel Ee By Samuel Ee samuelee@sph.com.sg FINDING it a tad too windy in your convertible? Is your bouffant hairdo in peril? Why not put on your Aircap. If you are in the new Mercedes-Benz E-Class
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      119 5 this series is brought to you by www.marinakeppelbay.com 10 months. 35,000 miles. Adventure of a Lifetime. Keppel Integrated Engineering (KIE) is a leading global provider of environmental solutions and engineering services. With offices in 1 1 countries, KIE has implemented more than 350 water and wastewater treatment projects and more
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