The Business Times, 16 April 2011

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Total Pages: 47
1 20 The Business Times
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  • TOP STORIES
    • Article
      Lock icon Asian central banks may take cue from S’pore tightening
      534 2 Bloomberg Singapore SINGAPORE’S third monetary policy tightening in a year may prompt Asian central banks to allow further interest-rate and currency gains to prevent surging prices from hurting their economies. The island’s dollar, the best-performing Asian currency outside Japan in the
      Bloomberg  -  534 words
    • Article
      Lock icon MARKETS
      139 2 H STI 3,153.30 (-5.62) H STI FUTURES 3,137 (-8) H SIMSCI 373.46 (-1.06) H SIMSCI FUTURES 370.90 (-0.90) STOCKS Friday Change KL COMP 1,521.94 -3.86 NIKKEI 225 9,591.52 -62.40 HANG SENG 24,008.07 -5.93 SET Closed JAKARTA 3,730.51 +22.53 MANILA 4,251.64 +16.68 KOSPI 2,140.50 -0.56 SHENZHEN B 840.89 -4.28 MUMBAI
      139 words
    • Article
      Lock icon FBI action strikes blow against Somali piracy
      763 2  -  Arrest of suspected kingpin in Somalia a first for US effort By George Joseph georgej@sph.com.sg Singapore THE outcry in the shipping industry against nations’ unwillingness to go after Somali pirates and prosecute them has met with a significant breakthrough. United States FBI agents
      763 words
    • Article, Illustration
      Lock icon Developers’ home sales up 25.4% in March
      931 3  -  Pace of demand, land sales point to oversupply risk down the road By Kalpana Rashiwala kalpana@sph.com.sg Singapore DESPITE a month-on-month spike in developers’ sales in March, sales of private homes in both the primary and secondary markets eased in the first quarter, according
      Source: URA,CBRE Research  -  931 words
    • Article
      Lock icon Deutsche banker has Taiwan arrest warrant on him
      723 4  -  He is accused of negligent advice that cost a client US$48m By Grace Leong gleong@sph.com.sg Singapore A DEUTSCHE Bank relationship manager accused of giving negligent investment advice that cost Taiwanese scientist Chang Tse Wen nearly half of his US$118 million fortune, is
      723 words
    • Article, Illustration
      Lock icon China to hike investment in Asia, emerging nations
      276 4 Bloomberg Sanya, China CHINESE President Hu Jintao said the country will increase investment in Asia and emerging nations as its companies further a global expansion. “In the next five years, China will encourage domestic companies to do more investment around the world,”
      Bloomberg  -  276 words
    • Article, Illustration
      Lock icon OUE pays $299.5m for Crowne Plaza Changi Airport
      604 5  -  Sellers are LC Development and partner LaSalle Asia; OUE to add 200 rooms to 320-room hotel Reports by Ven Sreenivasan ven@sph.com.sg Singapore THE Riady-owned Overseas Union Enterprise (OUE) has purchased the 320-room Crowne Plaza Changi Airport from listed LC Development and its
      604 words
    • Article
      Lock icon We buy one prime asset every year: Riady
      628 5 THE $300 million purchase of Crowne Plaza Changi Airport is in line with Overseas Union Enterprise’s (OUE) strategy of acquiring at least one prime asset every year, according to the listed property and hospitality group’s executive chairman Stephen Riady. “Ever since we
      628 words
    • Article
      Lock icon US effective corporate tax 6th highest: PwC
      564 6 Tax rate for biggest US companies in 2006-09 at 27.7%, against non-US average of 19.5% Bloomberg Washington US COMPANIES face the sixthhighest effective tax rate in the world, according to a study by PricewaterhouseCoopers LLP. The tax rate for the largest US companies
      Bloomberg  -  564 words
    • Article
      Lock icon Spending on luxury goods in US to grow US$26.6b in 2011
      430 6 Survey sees this type of expenditure rising nearly 8% to US$359b Re uters New York SPENDING by rich Americans on luxury goods is set to grow by US$26.6 billion in 2011, with the number of affluent families planning to
      Reuters  -  430 words
    • Article, Illustration
      Lock icon Brazil’s airports not in time for World Cup
      358 6 Reuters Brasilia MOST Brazilian airports being upgraded for the 2014 soccer World Cup will not be ready on time, likely causing serious transport bottlenecks for fans, a government-backed research group said on Thursday. Only two of 13 airport terminals under expansion are
      Reuters; REUTERS  -  358 words
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      Lock icon Page 2 Advertisements Column 1
      61 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Shopping L2-6 Wellness L7 Dining L8-9 Travel L10-11 Readers’Promotion
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      Lock icon Page 3 Advertisements Column 1
      57 3 i I NTRODUCTORY OFFER FROM 288 z A BRAND NEW EXPERIENCE IN THE HEART OF THE CITY Call 03 2141 3333 or Log on to www.swissgarden.com Swiss-Garden Residences is at no. 2A Jalan Galloway, Cbehind Swiss-Garden Hotel Kuala Lumpur) Off Bukit Bintang, ***** Kuala Lumpur, Malaysia 'Terms a Conditions apply
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      Lock icon Page 4 Advertisements Column 1
      28 4 f. go®K 5L*a£3 --ir. a* Ijl It i Charming Bedrooms Negot. JERRY LUM Rfl Snr Marketing Director, MBA, CES pj;yj HP: 8288 0098 View: jerrylum.myweb.sg cam ONE Million
      28 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK April 11-April 15, 2011
      • Article
        Lock icon Share placements: trend or happenstance?
        50 7 SHARE placements appear to be gaining popularity on the back of improving valuations, bucking the general trend in equity fund-rais-ing. In the past three months, companies listed on the Singapore Exchange have announced new share placements worth more than $1.1 billion, a BT count shows.
        50 words
      • Article
        Lock icon BOS on a roll, thanks partly to its name
        46 7 ASIA’S burgeoning wealth and its lure for international investors with Singapore as the nexus is proving to be an unbeatable formula for private banks operating in the Republic. What more if you’re called the Bank of Singapore?
        46 words
      • Article
        Lock icon Lim Boon Heng stepping down
        51 7 MINISTER in the Prime Minister’s Office and People’s Action Party chairman Lim Boon Heng has confirmed that he will be retiring after seven terms and more than 30 years in politics. Mr Lim, 63, said that he would not stand for re-elec-tion at the upcoming
        51 words
      • Article
        Lock icon After long hike, Sing$ faces trickier terrain
        59 7 AS Singapore’s economy shook off the effects of the global financial crisis and powered ahead last year, the Monetary Authority of Singapore’s target was clear. With inflationary pressures building up, the central bank unequivocally let the Singapore dollar climb, moving the exchange rate
        59 words
      • Article
        Lock icon SIA rolls back pay cuts for employees over 60
        69 7 JUST a month after conceding ground on its rehiring package for retired pilots, Singapore Airlines has decided not to cut employees’ salaries at 60. While the move is company-wide, SIA’s decision to scrap its practice of cutting salaries by 10 per
        69 words
      • Article
        Lock icon Goodies, discounts for ships flying green flag
        56 7 SINGAPORE is throwing its weight behind green shipping to the tune of $100 million. Singapore-regis-tered ships that surpass certain en-ergy-efficient design standards will get their initial registration fees halved, while ships that use qualifying low-sulphur fuel will get a 15 per cent discount
        56 words
      • Article
        Lock icon Office tenants answer call from beyond the city
        71 7 THE CBD office leasing market in Singapore may have slowed in the first quarter, but things have certainly been active for business park space outside the city, where rents are comparatively lower. Mapletree Business City, completed about a year ago along Pasir
        71 words
      • Article
        Lock icon Clash of ideas may spark departures at KhattarWong
        71 7 KHATTARWONG managing part- ner Tan Chong Huat and a significant number of lawyers are understood to be thinking of leaving the firm, due to differences between the senior partners. Those planning a departure include Rajan Menon, senior partner, corporate and securities laws;
        71 words
      • Article, Illustration
        Lock icon MR LIM
        27 7 Won’t stand for re-election at the upcoming polls and so, will be retiring after seven terms and more than 30 years in politics FILE PHOTO
        FILE PHOTO  -  27 words
      • Article
        Lock icon Surprise Q1 GDP spurt paves way for strong year
        68 7 AGAINST expectations, the pace of economic activity surged in the first quarter, and is now expected to remain robust through the year, although Q2 may see a dip. While the official growth forecast for 2011 remains 4-6 per cent, the Monetary
        68 words
      • Article
        Lock icon Govt to grow suburb towns, add homes in Central, West
        76 7 THE government will boost Singapore’s housing stock in tandem with the growth in population and expand towns such as Punggol, Sengkang, Yishun and Choa Chu Kang over the next 40 to 50 years, National Development Minister Mah Bow Tan said.
        76 words
      • Article
        Lock icon MAS signals room for stronger Sing dollar
        41 7 THE Monetary Authority of Singapore on Thursday tightened monetary policy by shifting the exchange rate policy band upwards, intensifying its fight against inflation as advance estimates show the economy surging in the first quarter.
        41 words
    • Article
      Lock icon NEXT WEEK Apr 18-22, 2011
      88 7 US DATA April 19 March housing starts March building permits April 20 March existing home sales April 21 March leading indicators Weekly jobless claims April Philadelphia Fed Report SINGAPORE DATA April 18 March merchandise trade EVENTS April 18 European Commission, ECB and IMF officials start
      88 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      312 7 CRYPTIC CROSSWORD Across 1 They made a bolt for it (8) 6 Cover story with article inside (6) 9 No notice is required should you wish to do it (6) 10 A split personality? (8) 11 New tutor accepted back study and started work (6,2) 12 Desire a new T-shirt
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      10 7 SATURDAY with Ludwig ‘I used to be a successful stockbroker...’
      10 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Legal eagle
      2552 8/9  -  Philip Jeyaretnam, considered one of the finest minds in his profession, talks about his father, his family, his writing, and where Rodyk Davidson will be headed under his charge. By Michelle Quah By Michelle Quah michquah@sph.com.sg THE NEW man at the helm of the 150-year-old Singapore law firm
      ARTHUR LEE  -  2,552 words
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      98 10 If we have a credible First World opposition, we'll treat them with First World civility. But that doesnl mean we donl demolish you Lee on the opposition in Singapore Lee Kuan Yew takes on his critics in 32 hours of interviews with Straits Times journalists on all the important issues
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  • COMPANIES
    • Article, Illustration
      Lock icon Ron Sim’s tea break
      345 11  -  OSIM acquires stake in luxury tea brand TWG also forms North Asian JV with it By Kelly Tay kellytay@sph.com.sg Singapore OSIM International, the lifestyle products group best known for its massage chairs, has acquired a 35 per cent equity stake in TWG Tea Company Pte Ltd,
      345 words
    • Article
      Lock icon M1 profit up 8.2% to $42.5m in Q1
      343 11  -  By Winston Chai winstonc@sph.com.sg Singapore M1’s first-quarter net profit climbed 8.2 per cent to $42.5 million, from $39.3 million last year, as the burden of heavy handset subsidies starts to ease this year. Earnings per share for the three months ended March
      343 words
    • Article
      Lock icon CRCT does better in Q1, sees rosy outlook in China
      312 11  -  By Emilyn Yap emilyny@sph.com.sg Singapore CAPITARETAIL China Trust (CRCT) yesterday posted improved results for the first quarter ended March 31. Gross revenue climbed 11.1 per cent year-on-year to 159.1 million yuan (S$30.4 million) largely from higher occupancy rates and higher
      312 words
    • Article, Illustration
      Lock icon OCBC private bank AUM grew 20% in 2010
      421 12  -  Shareholders question performance of private bank unit, Bank of Singapore, at AGM By Conrad Tan conradt@sph.com.sg Singapore OCBC Bank’s private banking assets under management (AUM) expanded by some 20 per cent last year and is continuing to grow at the same pace
      FILE PHOTO  -  421 words
    • Article, Illustration
      Lock icon DBS to add 8 outlets in China this year
      359 12 Bloomberg Shanghai DBS Group Holdings, South-east Asia’s biggest bank, plans to open at least eight new branches in China this year and double its workforce as it seeks to reduce its reliance on Singapore. The bank will hire people mainly for
      Bloomberg; FILE PHOTO  -  359 words
    • Article, Illustration
      Lock icon Rotational plays occupy attention as investors ignore GDP figures
      583 13  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent THE week that’s just passed saw investors shrug off bet-ter-than-expected GDP numbers as shares of Singapore Exchange (SGX), Hutchison Port Trust (HPT) and various commodity stocks such as Straits Asia Resources and Indofood Agri fell
      583 words
    • Article
      Lock icon SMX starts trading cashsettled metal futures
      220 13  -  By Wong Su-Jin sujinw@sph.com.sg Singapore THE Singapore Mercantile Exchange (SMX) has begun trading cash-settledmetalfutures,forset-tlement on expiry against benchmark global futures prices. The products that started trading yesterday are cash-settled gold, silver and copper futures in contract sizes of 100 troy ounces, 5,000 troy ounces
      220 words
    • Article
      Lock icon TOP 20 ACTIVES
      112 13 VOL CLOSE GoldenAgri 103,363 69.5 -0.5 -0.7 HPHTrust US$ 75,476 94.5 -1.9 -1.6 ChinaTaisan 73,801 16 0.5 3.2 GentingSP 43,302 209 0.0 0.0 NexGenSCom 36,629 3.5 0.0 0.0 OttoMarine 33,161 26 1.0 4.0 Gallant 30,174 47.5 0.0 0.0 *GentingHK US$ 26,249 43 1.3 2.4 Ramba 21,130 57.5
      112 words
    • Article
      Lock icon STI STOCKS
      107 13 Stock name Close Change CapMallsAsia 1.880 CapitaLand 3.410 CapitaMall 1.890 -0.010 CityDev 11.600 -0.100 ComfortDelGro 1.550 +0.010 DBS Grp 14.660 -0.140 F&N 6.240 -0.010 GLP 2.000 Genting SP 2.090 Golden Agri 0.695 -0.005 HK Land 7.210 +0.010 JMH 45.880 +0.660 JSH 27.680 +0.100 Jardine C&C 36.700 -0.160 Keppel
      107 words
    • Business briefing
      • Article
        Lock icon Longcheer expects losses for Q3
        81 13 LONGCHEER Holdings warned yesterday that the company expects to register losses for the third quarter and nine months ended March 31, 2011. The weak results are attributed to the lower revenue due to decline in volumes and average selling prices. The company also suffered from
        81 words
      • Article
        Lock icon SIA reports March load factor of 67.3%
        157 13 SINGAPORE Airlines, the world’s second-most valuable carrier by market capitalisation, filled 67.3 per cent of the space available on its planes for passengers and cargo in March, up from February but down from the same period a year ago. The Singapore flag carrier
        157 words
      • Article
        Lock icon GuocoLand’s Q3 profit drops 79%
        119 13 PROPERTY developer GuocoLand’s net profit for its third quarter ended March 31, 2011, tumbled 79 per cent from a year ago to $2 million on a drop in contribution from development projects in China. Also, “other income” fell to $1.8 million from $6.9 million due
        119 words
    • Article
      Lock icon TOP GAINERS
      59 13 BY CENTS CLOSE UP GLD 10US$ ***** 156.9 0.9 JMH 4588 82.2 1.5 Pru 500US$ 1204 42.3 2.9 IS DJ US Tech 6533 41.1 0.5 DBS Bk 6% NCPS 10 ***** 30.0 0.3 DBXT MSJAP 10US$ 3727 17.4 0.4 CoscoCorp.ES.1104 232 17.0 7.9 DairyFarm 874 16.2 1.5 DBXT
      59 words
    • Article
      Lock icon TOP LOSERS
      62 13 BY CENTS CLOSEDOWN DBXT Nifty 10US$ ***** -251.5 -1.5 DBXT MSTHAI 10US$ 1724 -47.3 -2.2 DBXT E50 10US$ 4625 -39.9 -0.7 DBXT S&P500 10US$ 2077 -33.6 -1.3 STXPO 100 1074 -28.0 -2.5 OCBC Bk 4.5%NCPS 100 ***** -20.0 -0.2 Lyxor China H 10US$ 1734 -19.9 -0.9 Jardine C&C
      62 words
    • Article
      Lock icon Better outlook for new Reits in next 3-5 yrs
      372 14  -  Asia-Pacific survey shows the industry’s players are more positive than they have been since 2007 By Emilyn Yap emilyny@sph.com.sg Singapore PLAYERS in the real estate investment trust (Reit) industry are feeling more positive about prospects for new Reits in the next
      372 words
    • Article, Illustration
      Lock icon Buoyant growth in office and hospitality Reits seen
      519 14  -  By Mindy Tan tanmindy@sph.com.sg Singapore EXPECT exciting double-digit growth in Singapore office and hospitality real estate investment trusts (Reits), Credit Suisse says in a report released this week. The report also noted that office rents have continued their upward trajectory, albeit at
      VIVOCITY  -  519 words
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      Lock icon Page 11 Advertisements Column 1
      347 11 BUY IT. SELL IT- FIND IT MATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES BEFORE MS. RUBINA KHAN JUDGE BANKING COURT NO. V, AT KARACHI BLOCK-3-B, SECOND FLOOR, A.M AREA, PAKISTAN SECRETARIAT, SADDAR, KARACHI. SUIT NO. 1182 OF 1989 HABIB BANK LIMITED SINGAPORE BRANCH SINGAPORE ITS BRANCH OFFICE AT HABIB BANK
      347 words
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      96 12 positions and a thousand more in CATS Recruit Executive Appointments now! OurPeopleareOurMostImportantAssets join Samwoh Group, aTop Enterprise 50 company, as a Training and Development Executive AWorld-ClassEducationSystemOperatesOutside theClassroomasWell- MOE is looking for Operations Managers Performance Matters Avantor Performance Materials, a dynamic, market-leading company is hiring an Application Engineer, SEA OurSpaceisAerospace,YourSpaceisHere- Goodrich
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      41 14 Tuck into THE GREAT outookCHARITY CEO c Feast on great hawker fare prepared personally by S'pore's top bosses Feel good because all proceeds go to charity When: Every Friday (7-10pm) Where: Food Republic Beer Garden at St James Power Station thenewpaper
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Green ICT as a driver for business growth
      976 15  -  The problem of energy wastage and e-waste is growing, but there are areas in which the ICT industry can play a part in lessening its environmental impact from the desk of Tim Moylan President, SAP South-east Asia GREEN ICT (information and communication
      976 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon G-20’s current size is adequate: Asian panel
      572 16  -  Grouping should be able to take care of interests of most countries, although emerging countries need more voices By Lynette Khoo lynkhoo@sph.com.sg in Boao, Hainan THE current size of the G-20 is adequate and representative of the world’s interests, said political leaders at
      ZAOBAO  -  572 words
    • Article, Illustration
      Lock icon More currencies needed for SDR: Zhou Xiaochuan
      499 16  -  Renminbi a top choice given China’s growth By Lynette Khoo lynkhoo@sph.com.sg in Boao, Hainan THE Special Drawing Rights (SDRs) maintained by the International Monetary Authority should comprise more currencies, including the Chinese yuan, in order to become a stable unit of currency for
      499 words
    • Article, Illustration
      Lock icon Slide in car sales, F&B drag on Feb retail
      463 17  -  Slowdown in spending surprises economists, but they point to spike in pre-CNY sales in Jan By Lynn Kan lynnkan@sph.com.sg SINGAPOREAN consumers weren’t working their wallets in February compared to January, as retail sales slowed over the month by 3.6 per cent,
      463 words
    • Article
      Lock icon Morgan McKinley sees pay hikes here of up to 15%
      275 17  -  Asset management high fliers seen leading the way By Linette Lim llinette@sph.com.sg SIGNIFICANT GDP growth last year has been reflected in salary inflation in the financial services sector, according to Morgan McKinley’s latest Singapore salary guide. Experienced individuals with solid
      275 words
    • Article, Illustration
      Lock icon GIVING HOPE TO QUAKE-HIT KIDS
      95 17 LIEW Mun Leong (left), president and CEO of CapitaLand Group, yesterday presented a $250,000 donation to Yoichi Suzuki, the Ambassador of Japan to Singapore, to support relief efforts in Japan in the wake of the devastating earthquake and tsunami on March 11. The amount was
      95 words
    • Article, Illustration
      Lock icon 41 patrons lauded for contributions to S’pore heritage
      363 18  -  Some $8 million in cash, materials, in-kind donations, long-term loans were contributed By Rebecca Liu rebeccal@sph.com.sg CULTURAL philanthropy has gained in prominence amongst local causes, with heritage continuing to attract new patrons, according to the National Heritage Board (NHB). Yesterday, NHB recognised
      363 words
    • Article
      Lock icon Vital elements for a good reputation
      274 18  -  Transparency, openness deemed top defining factors for companies: survey By Maxie Aw Yeong maxieay@sph.com.sg A RECENT survey shows that the reputation of local companies has improved since the financial crisis, and transparency and openness are now considered the most defining factors for a good
      274 words
    • Briefing
      • Article
        Lock icon NKF 100-table charity dinner raises $818,658
        62 18 AN NKF charity dinner held at the Orchid Country Club yesterday received strong support from various individuals and organisations. All 100 tables were sold one month ahead of the event, raising $818,658 in aid of kidney patients. The event was also graced by President
        62 words
      • Article
        Lock icon Nominations open for President’s Design Award 2011
        69 18 THE 2011 President’s Design Award, Singapore’shighestdesignaccolade, is open for nominations till May 10, 2011. Now in its sixth year, the award has been given to 18 designers and 37 designs across different design disciplines and has brought the designers prestige and recognition. The
        69 words
      • Article
        Lock icon LTA bags 2 international public transport awards
        58 18 THE Land Transport Authority has won a Special Award (International level) and the Daring Ambition Award (Asia-Pacific level) for its Land Transport Masterplan initiatives at the inaugural PTx2 Awards. Organised by the International Association of Public Transport, the PTx2 Awards recognise efforts to
        58 words
      • Article
        Lock icon Universal Studios grand opening set for May 28
        49 18 UNIVERSAL Studios Singapore will celebrate its grand opening on Saturday, May 28, a day when Hollywood and Asian celebrities, park guests, government officials, annual pass holders and theme park executives will come together to commemorate and officially open the theme park.
        49 words
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  • Page 18 Advertisements
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      Lock icon Page 18 Advertisements Column 1
      34 18 JEREMY RATNAM HOSTING BY THE MARRIED MEN CATCH THE 2010 Fl™ CHAMPION IN ACTION, LIVE IN THE STREET. Orchard Road I 24 April 2011 I 4-6pm I Free Admission MIMI WFM anew, RADIO STATION:
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  • WORLD
    • Article
      Lock icon March core inflation rises mildly
      562 19 But underlying inflation pressures remain contained; industrial output increases 0.8% latest us data Reuters Bloomberg Washington RISING food and gasoline prices lifted US consumer inflation as expected in March, but underlying inflation pressures remained contained, a government report showed yesterday. The mild rise in core
      Reuters; Bloomberg  -  562 words
    • Article, Illustration
      Lock icon China, India inflation higher than expected
      494 19 Reuters Beijing CHINA and India both reported higher-than-expected inflation readings yesterday, giving fresh ammunition to central bankers and investors alike who are worried about mounting price pressures in the global economy. Prices of oil and grain, in turn, are climbing in part because of
      Reuters; XINHUA  -  494 words
    • Article
      Lock icon BOA posts 1st profit in 3 quarters, settles claims
      342 19 Bloomberg New York BANK of America Corp, the largest US lender by assets, reported its first profit in three quarters and settled more claims tied to faulty mortgages as an improving economy helped borrowers keep up with debts. First-quarter earnings fell
      Bloomberg  -  342 words
    • Article, Illustration
      Lock icon US economy hits a soft patch
      616 20 But economists still expect a strengthening jobs market to revive growth in the next quarters Reuters Washington IN an echo of early 2010 when the US recovery stumbled, the world’s biggest economy appears to have slowed sharply at the start of this year. A
      Reuters; BLOOMBERG FILE PHOTO  -  616 words
    • Article
      Lock icon Tighter oversight for commo markets
      413 20 Reuters London GLOBAL regulators unveiled plans yesterday to tighten supervision of commodities markets but said that there was still no evidence to pin price swings on speculators. The International Organisation of Securities Commissions (Iosco) published a list of draft actions that it would finalise for
      Reuters  -  413 words
    • Article, Illustration
      Lock icon G-24 defends capital controls
      459 21 It rejects IMF’s proposed hot money rules that could add a new set of conditions for support Reuters Washington DEVELOPING nations warned the International Monetary Fund (IMF) on Thursday against imposing new rules dictating how they manage capital rushing into their economies, suggesting that rich nations
      Reuters; AP  -  459 words
    • Article
      Lock icon The only bear fund that made it
      362 21 Bloomberg Boston TWO market crashes in a decade have not helped bear-market mutual funds avoid the distinction of worst-performing strategy. The only exception: Bill Gross. Mr Gross, best-known for overseeing the world’s biggest bond mutual fund at Pacific Investment Management Co, also runs
      Bloomberg  -  362 words
    • Article
      Lock icon CICC turns ‘cautious’ on China stocks
      335 21 Bloomberg Shanghai CHINA’S biggest investment bank is turning “cautious” on the country’s stocks, just as six of its overseas rivals and the manager of the largest mutual fund say it’s time to buy. China International Capital Corp (CICC) predicts slowing economic and earnings growth
      Bloomberg  -  335 words
    • Article
      Lock icon Economy will expand next quarter: BOJ
      437 22 Damage from tsunami, quake will amount to 16t yen to 25t yen Bloomberg New York BANK of Japan (BOJ) governor Masaaki Shirakawa said the economy will expand next quarter as it recovers from the nation’s worst earthquake. “Most private economists believe that Japan’s GDP
      Bloomberg  -  437 words
    • Article, Illustration
      Lock icon Tokyo Disneyland reopens
      318 22 AFP Tokyo FIVE weeks after Japan’s quake, tsunami and nuclear crisis struck, Tokyo Disneyland threw open its doors again yesterday, bringing some welcome relief to thousands of disaster-weary families. Mickey Mouse greeted and hugged many of the 10,000 visitors who had queued up, some of them all
      AFP  -  318 words
    • Article
      Lock icon Google’s spending jump sparks shares fall
      323 22 Reuters San Francisco GOOGLE Inc’s stunning 54 per cent spending surge in the first quarter has spooked investors already worried that its new CEO may take his eye off the bottom line to chase revenue growth. Shares of Google slid more than 5 per
      Reuters  -  323 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      10195 26 Transaction date: Apr 15 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 21 14.5 8Telecom 17.5cd 17 18 7.8 3.5 3.7 83.8 12 4.5 A-Sonic 7.5cd unch 28 7.5 7.5 7 8 1.7
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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 9 3 4 0 0 0 9 3 4 Manufacturing 43 58 79 5 6 9 48 64 88 Commerce 15 17 24 1 2 5 16 19 29 Tpt/Stor/Comms 10 20 15
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      Lock icon BT SHARE INFORMATION SERVICE
      816 26 For week beginning Apr 11 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) CSC Hldgs Ltd 14-Apr-11 Poh Chee Kuan Sell 322 0.16 7369 0.60 7047 0.58 Swiber Hldgs Ltd
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      Lock icon SECURITIES TRADING TURNOVER
      120 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 47,694 47,694 74,721 74,721 Manufacturing 338,903 6,092 344,995 222,067 478 222,545 Commerce 81,197 4,623 85,820 67,255 1,575 68,830 Tpt/Stor/Comms 181,420 13,148 194,568 279,647 880 280,527 Finance 19,970 19,970 159,935 159,935 Construction 44,267 666 44,933 17,081
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  • MARKETS
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Apr 15 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.359 1.283 Can dollar 1.322 1.272 Euro 1.841 1.771 Sterling pound 2.078 1.999 NZ dollar 1.019 0.971 US dollar 1.265 1.217 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
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      Lock icon STOCK MARKETS
      90 27 YTD change:-1.15% 52-week high: 3,313.61 on Nov9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg YTD change: +4.22% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,971.50 on May 27,2010 Source: Bloomberg YTD change: +6.11 52-week high: 12,450.90 on April 6,2011 52-week low: 9,614.32 on July 2,2010 (Chart
      Source: Bloomberg  -  90 words
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      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Apr 14 Index Change Change Change Change Change Change World Index Preliminary 917.6 -0.5 2.2 -1.0 1.5 -0.4 4.2 ‡EAFE Preliminary 802.2 -0.6 0.2 -0.9 1.3 -0.4 4.0 Europe Preliminary 1190.0 -0.8
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      Lock icon INTERBANK CURRENCY RATES
      154 27 Apr 15 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3090 1.3096 1.0512 1.0515 Canadian dollar 1.2922 1.2931 1.0378 1.0382 Euro 1.8017 1.8022 1.4469 1.4470 NZ dollar 0.9897 0.9905 0.7948 0.7953 Sterling pound 2.0355 2.0363 1.6347 1.6349
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      Lock icon LIFFE
      82 27 Apr 14 COCOA (£/tonne) Close Prev High/Low May 11 1963 1948 1981/1932 Jul 11 1960 1946 1980/1927 Sep 11 1975 1961 1992/1944 Dec 11 1990 1982 2005/1965 COFFEE (US$/tonne) Close Pev High/Low May 11 2466 2496 2509/2458 Jul 11 2469 2500 2514/2461 Sep 11 2490 2518 2530/2482 Nov 11
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      Lock icon CHICAGO BOT
      93 27 Apr 14 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 11 1331.*****3.*****7.*****6.50 Jul 11 1342.*****5.*****9.*****8.25 Aug 11 1345.*****7.*****0.*****1.00 Sep 11 1345.*****9.*****9.*****2.25 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low May 11 56.87 57.36 57.66 56.79 Jul 11 57.47 57.99 58.25 57.40 Aug 11 57.69 58.19 58.34
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      Lock icon OIL
      75 27 Apr 14 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 122.15 0.07 WTI (Near Mth) 107.13 unch Dubai (1-Mth F) 115.29 1.14 Tapis blend 130.19 1.40 Minas 126.59 1.40 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 116.28 2.84 Jet Kerosene 138.80 1.70 US$/barrel Opec Oil Basket Price
      75 words
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      Lock icon LONDON METALS
      71 27 Apr 14 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2619.00 2617.25 3 months 2643.00 2643.00 Copper, Grade A (US$/tonne) Cash 9389.25 9488.25 3 months 9410.00 9510.00 Lead (US$/tonne) Cash 2664.50 2732.00 3 months 2613.50 2679.50 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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      Lock icon METALS
      65 27 Apr 15 GOLD (US$/oz) Apr 14 Apr 15 Hong Kong 1464.*****5.00 Apr 13 Apr 14 London 1458.*****6.57 1459.*****7.34 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 52.58 52.29 Source: UOB PLATINUM Lon (US$/oz) Apr 14 Close Previous PM Fix 1772.*****6.00 AM Fix 1784.*****3.00 Source: LPPM PLATINUM NYMEX (US$/oz)
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      Lock icon PALM OIL
      65 27 Apr 15 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 11 3370 3360 3370 3360 79 658 May 11 3332 3289 3332 3272 1086 ***** Jun 11 3307 3236 3310 3232 ***** ***** Jul 11 3297 3233
      65 words
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  • PERSPECTIVE
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      Lock icon Anatomy of a non-violent revolt
      2290 28/29  -  Egypt’s peaceful revolution was no accident. Training in civil disobedience began six years ago and after a process of trial and error activists were ready to take on a dictator. By Marwa Awad and Hugo Dixon By Marwa Awad, Hugo Dixon REUTERS BREAKINGVIEWS IN early
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Avoiding buy-high, sell-low syndrome
        972 31  -  In its new study, Dalbar shows how investors can manage their psyche to capture ‘alpha’ or excess returns and presents ways to avoid self-destructive investing behaviour. By Genevieve Cua By Genevieve Cua BY NOW, you would be familiar with the defeating pattern of investors buying high
        STOCK.XCHNG  -  972 words
      • BROKERS' TAKE
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          Lock icon Ezra Holdings
          392 31 Buy DMG Partners Research April 15 Close: $1.75 OUR key takeaways from the H1 FY2011briefing:(1) H1FY2011net profit of US$22 million was 30 per cent of our estimate and 26 per cent of consensus forecast. We expect stronger earnings in H2 FY2011 due to deployment of more vessels and
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          Lock icon K-Reit Asia
          347 31  -  Compiled by Lynn Kan Neutral CIMB Research April 15 Close: $1.34 FIRST-QUARTER FY2011 distribution per unit (DPU) of 1.79 cents was in line with our expectation and consensus, forming 24 per cent of our FY2011 forecast. We expect back-end loaded contributions from its additional 19 per cent stake
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      Lock icon Philanthropy works better when the govt lends a hand
      1288 32 It is easy to give money away but hard to do it in a way that will solve a problem AP New York THIS is a season of fiscal austerity for governments, and state and local officials are threatening to cut
      AP  -  1,288 words
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      Lock icon Infrastructure theme may be sound play
      1417 33  -  Timing may be just right given projections of heavy investments in the sector in Asia over the next decade show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent BETWEEN 2001 and last year, India’s gross national product in local currency at current market
      1,417 words
    • WEALTH REAL ESTATE
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        Lock icon Househunt PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MARCH 16 AND MARCH 22, 2011
        1159 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 16 LANDED Kew Residencia 3-Ter 18/03/2011 99 1706 1590 932 Limau Villas 3-Ter 21/03/2011 99 1640 1450
        1,159 words
      • Article, Illustration
        Lock icon China Q1 home sales up 26% at 860.7b yuan
        588 35 The jump flies in the face of the government’s stepped-up property cooling measures Bloomberg Shanghai CHINA’S housing sales value rose 26 per cent in the first quarter as homebuyers increased their purchases even though the government stepped up its measures to
        Bloomberg; BLOOMBERG FILE PHOTO  -  588 words
      • Article
        Lock icon Morgan Stanley fund defaults on Japan debt
        310 35 Reuters Tokyo A MORGAN Stanley property fund failed to make US$3.3 billion in debt payments by a deadline yesterday, handing over the keys to a central Tokyo office building to Blackstone and other investors, the largest repayment failure of its kind in Japan.
        Reuters  -  310 words
      • Article, Illustration
        Lock icon THE RACE TO GO GREEN
        89 35 IT was an eco-style version of The Amazing Race for 280 youths last week as they raced around Singapore during the City Developments Limited (CDL) E-Generation Challenge 2011. The youths, aged between 17 and 25, thought about and learnt about all things green during CDL’s
        89 words
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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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      56 1 LivingTHEBUSINESSTIMESWEEKEND|APRIL16-*****1BTTHE BUSINESS TIMES WEEKEND APRIL 16-17 2011 A STORE MORE New concept spaces for sophisticated shoppers CLUB 21 PHOTO: YEN MENG JIIN WELLNESS Backyard Medicine's James Wong L7 GOLF South African champions L17 TRAVEL Adventures in Brazil L10-11 DINING Edible Easter arrangements L8-9 F1 WATCH Tracking the new lingo L20
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  • BT Living
    • SHOPPING
      • Article, Illustration
        Lock icon A store & more
        2549 2 / 3  - A store more As shoppers become more sophisticated, stores are expanding their services beyond plain selling they’re offering retail experiences with a broader lifestyle spin, which may encompass exclusive product shows, food or even a laundry service. Audrey Phoon speaks to four such businesses Audrey Phoon aphoon@sph.com.sg Club 21 Style
        PHOTOS BY YEN MENG JIIN; PHOTOS BY ARTHUR LEE; STYLESPACE ON 4 PHOTOS BY YEN MENG JIIN  -  2,549 words
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        Lock icon At your service
        755 6  -  High-street and mid-priced brands are now offering personal shopping, once the exclusive purview of designer labels. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg YOU are ushered into a lovely little boudoir complete with a plush sofa and two generous-sized changing rooms filled with racks of clothes specially
        755 words
    • WELLNESS
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        Lock icon Green remedies
        1056 7  -  Ethnobotanist James Wong shows how you can unlock the pharmacy in your garden. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg HE reckons he has about 120 species of medicinal, edible plants now crowded into his London townhouse the most number of plants he’s ever had. “I usually grow
        1,056 words
    • DINING
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        Lock icon Sweet sculpture
        448 8 / 9  -  Have your Easter centrepiece and eat it with table-top eyefuls that make for scrumptious mouthfuls. By Jaime Ee By Jaime Ee EASTER-EGG mania is upon us again. But before you start filling baskets with chocolate rabbits and coloured bonbons, why not raise the candy bar with these edible
        JEWELS ARTISAN CHOCOLATE; PHOTOS: SHANGRI-LA HOTEL; PHOTOS: YEN MENG JIIN; CHECKERS DELI, HILTON SINGAPORE; CENTRE PS  -  448 words
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        Lock icon Divine Dove breads
        298 8 / 9  -  By Jaime Ee WHEN hot cross buns don’t quite cut it for you, then check out these Italian Easter breads that take their inspiration from Christmas panettone. The Easter Dove Cake, also known as “Colomba” (Italian for “dove”) is a traditional bread usually made with candied peel
        COVA PASTICCERIA  -  298 words
    • TRAVEL
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        Lock icon Heady brew of contrasts
        1498 10 / 11  -  Gritty but groovy, touristy but postcard-pretty Sao Paulo and Rio de Janeiro serve up a potent caipirinha-soaked brew of contrasts laced with an air of danger that’s almost intoxicating. By Jaime Ee By Jaime Ee jaime@sph.com.sg IF YOU plan to listen to what every well-mean-ing Singaporean
        1,498 words
    • READERS' PROMOTION
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        Lock icon Special treats at Summer Palace
        668 12 / 13  -  The Regent Singapore’s award-winning Cantonese restaurant has much more to offer after its recent makeover Compiled by Vanessa Chan BT Promotions Team vanchan@sph.com.sg SUMMER Palace, The Regent Singapore’s award-winning Cantonese restaurant, has undergone a makeover and has a mouth-watering offer in store for readers of
        668 words
    • GADGETS
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        Lock icon Get the picture
        451 14  -  There are cameras and then there are those which pack in features even the most seasoned pros can’t quibble with. By Christopher Lim with.By Christopher Lim limchris@sph.com.sg Nikon Coolpix P300, $599 Compact cameras with bright, fast lenses built in are a growing niche for photographers who want
        451 words
    • HEALTH
      • Article, Illustration
        Lock icon What’s up, doc?
        1244 15  -  Don’t know what to expect at a health screening? Here’s a quick guide to the tests your doctor may use to determine your health status. By Chong Yeh Woei status.By Chong Yeh Woei ~Dr Chong is a physician at Singapore Medical Specialists Centre; president, Singapore Medical Association
        1,244 words
    • SPORT
      • Article, Illustration
        Lock icon Ensuring the right legacy
        1068 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor GET Jeremy Browne talking about sports and even he admits that he can “go on for hours and hours” discussing his favourite teams and games. AstheUK’s Ministerof Stateat the Foreign and Commonwealth Office, the 40-year-old’s job takes
        AFP  -  1,068 words
    • GOLF
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        Lock icon Tradition of excellence
        1080 17  -  Charl Schwartzel, who recently won the US Masters, is just the latest in a string of professional golfers from South Africa who have performed well on the US PGA and European Tours. By Justine Moss Tours.By Justine Moss btnews@sph.com.sg ALL Charl Schwartzel needed to win his first
        PHOTOS: AFP, AP, BERITA HARIAN, REUTERS  -  1,080 words
    • MOTORING
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        Lock icon VALUE FOR MONEY
        566 18/19  -  Fluctuating forex rates and more interesting powertrains mean that the 1.6-litre saloon market is no longer dominated by the Japanese sedan. Samuel Ee looks at two non-Japanese alternatives in the COE Category A market Samuel Ee samuelee@sph.com.sg WHEN the Kia Cerato Forte first arrived here in early
        566 words
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        Lock icon EUROPEAN FLAVOUR
        546 18/19 samuelee@sph.com.sg WITH most of the familiar Japanese compact sedan models clustered around the $90,000-plus level, Renault has aimed its new 1.6-litre sedan very close to this target. The Renault Fluence is priced slightly above the Toyota Corolla Altis, Nissan Sylphy, Mazda3 and Mitsubishi Lancer EX, for instance. But
        546 words
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        Lock icon Track the new lingo
        769 20  -  To avoid any misunderstanding during the Shanghai Grand Prix, Samuel Ee explains the ambiguous terms thrown up by the new rules and equipment this season f1 watch Samuel Ee samuelee@sph.com.sg RED Bull Racing’s Sebastian Vettel goes into this weekend’s Chinese Grand Prix as the man to
        AFP  -  769 words
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      788 4 / 5 wine&dine with BTWeekend Mandarin Court Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 Ascend 35 stories of the Orchard Wing and arrive in style at Mandarin Court Chinese Restaurant, the home of authentic Cantonese cuisine. Delight in Executive Chinese Chef Sunny Kong’s signature dishes such as Classic Peking Duck, Double-boiled Assorted
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