The Business Times, 23 May 2011

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Total Pages: 31
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sfil A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Monday, May 23,2011
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  • 1052 1  -  PMO calls for ‘significant discount’ in ministers’ pay relative to private sector By JAMIE LEE [SINGAPORE] The government has sent its strongest signal yet that a pay cut for the President and the ministers is on the cards: Yesterday, it spelled out the limitations
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  • 712 1  -  Study shows growth in Indonesia patients levelling off By CHEN HUIFEN [SINGAPORE] Malaysian patients are accounting for a bigger slice of Singapore’s medical tourism market, while the growth in Indonesian medical tourism is levelling off. According to a study by
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  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST INDEX 3,168.54 +4.86 KL COMP 1,541.03 +0.29 NIKKEI 225 9,607.08 -41.69 HANG SENG 23,199.39 -76.88 SET INDEX 1,072.94 -12.02 JAKARTA COMP 3,872.95 +40.93
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  • TOP STORIES
    • 1041 2  -  How the exercise is carried out will be seen as a test case of the government’s commitment to change COMMENTARY WONG WEI KONG Associate News Editor GOING by initial reactions, the proposed review of ministers’ salaries has been welcomed by most Singaporeans. But for
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    • 404 2  -  Experience in China, India, Japan, Middle East will be useful By LEE U-WEN [SINGAPORE] On the morning after Singapore’s new Cabinet was officially sworn in, Emeritus Senior Minister Goh Chok Tong said he had neither a “hangover” nor the “burden of office”
      DESMOND LIM/THE STRAITS TIMES  -  404 words
    • 502 2 Govt names panel, spells out criteria for ministers’ pay THE government has sent its strongest signal yet that a pay cut for the President and the ministers is on the cards: yesterday, it spelled out the limitations of presidential duties and the need for a “significant discount” in
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    • 758 4  -  They agree to speed up work for trilateral free trade pact, investment treaty By in ANTHONY ROWLEY in Tokyo AT the end of what appeared to be an unusually fruitful trilateral summit in Tokyo yesterday, political leaders from Japan, China and South Korea
      XINHUA  -  758 words
    • 624 4  -  How equities hold up will likely depend on US data reports WALL STREET INSIGHT By in New STEPHEN RAPHAEL in New York EUROPEAN debt woes, tumbling commodity markets and the rising US dollar are pressuring the US stock market now, just as they
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    • 138 2 LUXURY TOURS TRAVEL PTE LTD aSiyiS The Leading Operator Established 1985 "Fullfilling your requirments with finesse" Our experienced team of planners takes charge right from the start. We offer you the best venues available, suggestions settings. These include transportation, meals, sightseeing tours tourist guides. Our services at a glance Incentive
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    • 180 2 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF VALUE HEALTH INTERNATIONAL PTE. LTD. (CO. REG. NO. *****7014R) (MEMBERS’ VOLUNTARY WINDING UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, a FINAL MEETING of
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    • 20 2 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change I of Address Notices MAT3 NOTICES
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    • 1442 4 Q6AT3 BUY IT SELL IT FIND IT NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg DnBNOR FORM 14 (rule 30(1 )(c)) IN THE SUPREME COURT OF BERMUDA COMPANIES WINDING-UP NO. 27 OF 2011 IN THE MATTER of the Companies Act 1981 (Bermuda) And IN THE MATTER of FERROCHINA LIMITED (In Liquidation) NOTICE
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  • COMPANY NEWS
    • 893 5  -  Windfall dividends given out, but greater cost pressures lie ahead, say analysts By MICHELLE TAN The first quarter of 2011 saw more companies turning in negative earnings surprises as opposed to positive ones, say analysts, who also warn that companies may face
      893 words
    • 709 5  -  HOCK LOCK SIEW By R SIVANITHY WITH commissions constantly under pressure, dealers and remisiers are probably not overstating things when they say theirs is a sunset profession, one whose attraction wanes with each turn of the regulatory screw. Earlier this year, they had
      709 words
    • 1544 7  -  Buyback activity surges with 11 firms recording 28 repurchases worth $7.58m, reports ROBERT HALILI INSIDE MARKETS reports ROBERT HALILI The writer is managing director, Asia Insider Limited THE insider activity plunged last week with only 22 transactions worth $6.39 million, based on filings on the Exchange
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  • SINGAPORE MARKETS
    • 425 6 Euro falls to 7-week low against yen soars vs euro CURRENCIES Bloomberg [NEW YORK] The euro last week dropped to a seven-week low versus the dollar as Greece moved closer to defaulting on its obligations, bolstering concern that the region’s sovereign-debt crisis is worsening. The yen reached its strongest level
      Bloomberg  -  425 words
    • 505 6  -  COMMODITIES By KER CHUNG YANG The writer is an investment analyst with Phillip Futures ANYONE who buys groceries or eats in a restaurant will know that food prices have increased. There are people who point the finger at the cost of agricultural products, and
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    • 604 6  -  STOCKS R SIVANITHY Senior Correspondent TRYING to forecast where stocks might head in the week ahead is usually a tricky business given the multitude of factors, both internal and external, that could influence sentiment. However, the task has been relatively simple for some weeks
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    • 1681 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Prop Ltd 2.55 2.73 11 15.36 7.49 1.34 1.15 Amtek Engg Ltd 2.00 1.75 4 11.82 9.22 1.45 1.09 ARA Asset Management Ltd 2.00 1.75 4
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    • 4 6 WEEKLY
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    • 66 6 May 20 VALUE CLOSE BT OB/OS -69.00 +17.00 BT CADI -*****.00 -45.00 BT 10-day MA -*****.00 -7.00 FTSE ST Mid Cap 760.22 +1.49 FTSE ST Small Cap 535.56 -3.45 FTSE ST All Share 775.42 -0.85 FTSE ST China Top 270.19 -0.07 FTSE ST China 306.35 -0.07 FTSE
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    • 56 6 VOLUME Golden Agri 396,190,000 Genting SP 389,279,000 Artivision 250,672,000 Tuan Sing 150,608,000 Noble Grp 117,858,000 EuNetworks 103,996,000 EastGateTech R 102,081,000 NexGenSCom 94,492,000 Ramba 91,544,000 Dyna-Mac 90,987,000 VALUE($) Genting SP 797,692,159 Golden Agri 274,119,710 DBS Grp 261,175,154 Noble Grp 243,239,480 Keppel Corp 238,590,416 SingTel 210,010,024 Wilmar 198,501,337 UOB
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    • 120 6 BY CENTS CLOSE UP DBXT AUD Bonds 5AU$ ***** 335.1 1.6 JMH 5156 259.2 4.2 Hyflux 6% CPS 10 ***** 110.0 1.0 Asia Pac Brew 2500 96.0 4.0 JSH 2994 93.8 2.6 UOB 5.05%NCPS 100 ***** 78.0 0.7 OCBC Bk 4.5%NCPS 100 ***** 70.0 0.7 DBXT AUDMM 5AU$ *****
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    • 122 6 BY CENTS CLOSE DOWN DBXT FTVietnam 10US$ 2899-371.5 -9.4 DBXT Nifty 10US$ *****-348.0 -2.2 DBXT iBoxxSvEu 5US$ *****-290.0 -1.0 IS S&P500 *****-192.5 -1.2 DBXT MSJAP 10US$ 3743-149.3 -3.1 DBXT MSKorea 10US$ 6266-113.5 -1.4 GLD 10US$ *****-109.8 -0.6 DBXT E50 10US$ 4538 -96.3 -1.7 DBXT SPASX200 10US$ 3579 -87.6 -1.9
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    • 5 6 WEEKLY
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    • 403 8 May 20 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 230 8 COMPANY MEETING PLACE DATE TIME KS Energy E 19 Jurong Port Road, Singapore *****3 25-May 10.00am CDW Hldg A S Prince 2, Level 13, Copthorne King’s Hotel, 403 Havelock Road, 2.30pm Singapore *****2 31-May 2.45pm Low Keng Huat A Grand Mercure Roxy Hotel, Siglap, Katong Amber Room, Level
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    • 588 8  -  TEH HOOI LING Senior Correspondent INTEREST in the market was subdued last week, and all but one of our portfolios drifted lower. On average, the portfolios fell by 2.9 per cent, the median being 1.5 per cent. The suspension of Sinomem caused the one-year top losers’ portfolio
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    • 169 8 MAY 20 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE China Essence 0.300 9.1 6,300 Golden Agri-Resources 0.700 5.3 19,600 Food Empire 0.385 2.7 4,235 AIMS AMP I REIT 0.210 2.4 3,150 Best World 0.240 2.1 4,800 Bukit Sembawang 4.310 1.9 4,310 Pan-United Corp 0.495 1.0 5,940 First Resources
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    • 153 8 MAY 20 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE MoyaDayen 0.060 9.1 7,500 Mirach Energy 0.105 5.0 10,500 JEL 0.020 0.0 5,000 Jiutian Chemical 0.035 0.0 3,150 Zhonghui 0.000 0.0 Top Global 0.010 0.0 5,000 Lereno Bio-Chem 0.005 0.0 1,250 China Oilfield Tech 0.005 0.0 355 China Energy
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    • 155 8 sentiment MAY 20 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE Kingboard Copper Foil 0.360 2.9 9,000 Dairy Farm 11.848 2.7 11,848 Parkway Life Reit 1.790 1.7 8,950 People's Food 0.750 1.4 8,250 Pan-United Corp 0.495 1.0 5,940 Macquarie Int'l Infrastr 0.585 0.9 8,190 Cityspring Infra Trust
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    • 166 8 MAY 20 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE China Essence 0.300 9.1 6,300 Kingboard Copper Foil 0.360 2.9 9,000 Straits Asia Resources 2.930 2.8 14,650 Straits Asia Resources 2.930 2.8 14,650 SC Global 1.340 0.8 14,740 Ho Bee 1.420 0.7 15,620 Hupsteel 0.215 0.0 6,665 CSC Holdings
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    • 171 8 MAY 20 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE Silverlake Axis 0.350 4.5 11,550 Innotek 0.485 4.3 6,790 Elec Eltek Int'l 4.172 3.7 12,516 Poh Tiong Choon Logistic 0.410 2.5 11,890 Stamford Land 0.630 1.6 11,340 Nera Telecoms 0.370 1.4 8,140 Transpac Indl 2.320 1.3 6,960 China Merchants
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    • 171 8 MAY 20 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE Golden Agri-Resources 0.700 5.3 19,600 Innotek 0.485 4.3 6,790 Tuan Sing 0.385 4.1 20,020 Kingboard Copper Foil 0.360 2.9 9,000 Allgreen Properties 1.140 2.7 13,680 SanTeh 0.390 2.6 5,850 Rickmers Maritime 0.410 1.2 4,100 Bonvests 1.020 1.0 9,180 China
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  • Page 6 Advertisements
    • 90 6 HPT Phillip Futures Bringing Global Markets Closer to You www.phillipfutures.com.sg 6538 0500 o8 Brought to you by Phillip Futures Pte Ltd (A member of PhillipCapital) i?t 1 i r > Co. Reg. No: *****5695G The above information does not constitute an investment advice, an offer/solicitation to buy/sell the above mentioned
      90 words

  • Page 7 Advertisements
    • 147 7 Agility is instinctive. The new generation C-Class. Agility that responds to your every move. Make your next move in the new generation C-Class. Packed with a suite of driver assistance systems, it gives you the control you need, delivered with the comfort you are accustomed to. While ATTENTION ASSIST observes
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  • Page 8 Advertisements
    • 62 8 CATS Recruit The first door to your world of opportunities CLA/AUG06/g ED \\\\V\\W mliul, m m 1 ji C i MO XL 5v ml'. Passion CLASSIC RACING COLLECTION 1000 MIGLIA GT XL CHOPARD BOUTIQUES #01-03 Takashimaya S.C.,Tel. 6733 8111 Bi-ioyThe Shoppes at Marina Bay Sands,Tel. 6688 7999 #02-106 Resorts World
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  • ACCOUNTANTS FOR BUSINESS
    • 1511 9  -  Trend precedes S’pore’s overhaul of its accountancy sector, which will see more high-level services coming here, reports MICHELLE QUAH reports MICHELLE QUAH SINGAPORE’S planned overhaul of its accountancy sector in the next decade will see more highlevel services coming to its shores in turn, leading
      AFP  -  1,511 words
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    • 97 9 ACCA Singapore Annual Conference Going Regional Challenges Opportunities for the Accounting Profession The demand for accounting and finance professionals with specialised skills and mastery of regional business practices and technical standards is rising locally and across the region. To stay relevant and understand the issues affecting you, come join the
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  • SINGAPORE NEWS
    • 334 10  -  Pay increases forecast to average 4.2% this year, 0.5% higher than last year By MAXIE AW YEONG WAGE increases are forecast to better counter the impact of inflation this year compared to last year, according to a poll conducted by global management consultancy
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    • 1991 10 Payment Ex Books Pay Ann (cts) date close date date 8Telecom Intl bn 0.615 03-May 05-May 24-May 08-Apr ABR Hldgs ak 1.000 10-May 12-May 27-May 13-Apr Adampak Ltd ak 2.000 09-May 11-May 26-May 02-Mar Adv Integrated Mft an 0.330 20-May 24-May 06-Jun 28-Feb Advanced Hldgs ak 0.340 06-May
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  • Page 10 Advertisements
    • 1199 10 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings NOTICES 3 MATS BUY IT• SELL IT• FIND IT NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg BANK OF COMMUNICATIONS CO., LTD. Head Office: 188 Yin Cheng Zhong Lu, Shanghai *****0, People’s Republic of China
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    • 1199 10 HATS "YT P <y Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES 'J HypoVereinsbank Member of "j UniCredit UniCredit Bank AG, Head Office: Kardinal-Faulhaber-Strasse 1, D-***** Munich, Germany. Telephone (089) 378-*****, -***** Singapore Branch: 30 Cecil Street #25-01 Prudential Tower, Singapore *****2 Tel: 6413 3688 Balance Sheet at December 31, 2010 Assets
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  • Page 11 Advertisements
    • 92 11 Standard Chartered mm Can a bank balance its ambition with its conscience? We're working harder to create a brighter future for you. Our global guiding principles and ethical banking practices influence everything we do, from the customers we work with to the businesses we finance. By pursuing initiatives such as
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  • SINGAPORE ARTS FESTIVAL 2011
    • 453 12  -  For once, 7 male dancers will take over female roles in Bedoyo Dirodo Meto, an Indonesian court dance, writes CHEAH UI-HOON writes CHEAH UI-HOON AFICIONADOS of Indonesian ethnic dance and song will find an interesting modern take on traditional courtly dance and gamelan music in Javanese
      453 words
    • 602 12  -  Audience heard Sawhney’s own composition and saw him conduct A THROW OF DICE By TAN TECK HENG CONDUCTING is one of the few things left which is relatively new to Nitin Sawhney the musician extraordinaire is a multi-instrumen-talist, composer, film soundtrack and video-game scorer
      602 words
    • 436 12  -  SOUND SYSTEM LAST DAYS OF MEANING By TAN TECK HENG EXPECTATIONS were high for Nitin Sawhney’s DJ-set last Saturday, titled Sound System Last Days of Meaning, with the audience screaming as he took his place at the DJ decks on the Festival Village Main
      436 words
    • 796 12  -  MEMORY II: HUNGER By CHEAH UI-HOON AS there are 26,280 hours in three years, six hours in a day would only be a fraction or 0.022 per cent to precise of the time. So when one notes that Living Dance Studio took
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  • Page 13 Advertisements
    • 114 13 stimacuclaimbeenaggdpror6 Sttr TemasektakesstakeinOlam “Excellent response time and commercial acumen” Ezra Holdings is utmost claiming more territory in the subsea market “they have been shining” Hyflux-Mitsui to take water trust private Fortis makes counter offer for Parkwayforward-looking and “dynamic, aggressive” ING, OCBC complete Asian private banking deal“sharp, detailed, knowledgeable and prompt
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  • VIEWS FROM THE TOP
    • 3492 14 THIS WEEK’S TOPIC What would you say is the biggest lesson from your experience as a business leader? And what is the best business advice you’ve ever received? Benedict Soh Executive Chairman Kingsmen Creatives Ltd “DON’T give up in the face of extreme challenges” that’s the biggest
      THE STRAITS TIMES FILE PHOTO  -  3,492 words

  • Page 15 Advertisements
    • 361 15 r DUti ULiu uuu eSavings Account Interest-on-lnterest Free Insurance Make money with interest-on-interest. Save money with free insurance. U jSAVvyl Are you? DISCOVER A NEW WAY OF SAVING. There are ordinary banking accounts and then there is the Maybank iSAVvy suite of accounts. iSAVvy lets you enjoy one of the
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  • Page 16/17 Advertisements
    • 279 16/17 sr HE E^-■-rs^fSe 5 eggs r^"" W^. e w V 1 SSsfS? T.'- r** -"'4 *F 3*M 3 >;.• *3 MM* in *s£ >*3 i' 5^ -r "4 r A*. c ap3g? sir W ..p S«£? s* >s -t. ,-><■ *Vz£ r in > V—1 *>. 35 >& >slr «*2
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 990 18  -  The asset class is gaining popularity as a means of diversification, says MINDY TAN says MINDY TAN THE term “safer” is relative, to be sure, but it must be said that despite its inherent dangers, the forex market can be a lucrative one, if
      AFP  -  990 words
    • 1255 18  -  Kenneth Nah tells REBECCA LIU why he has diversified his investments and become a little more risk-averse STARTING YOUNG REBECCA LIU MANY young boys wish to be pilots, astronauts or firemen when they grow up. Not so for Kenneth Nah Yu Siang when he was
      ARTHUR LEE  -  1,255 words
    • 341 18 ASK DR INVEST Q: I have been reading the news and it seems that the US dollar seems to be weakening against the Singapore dollar and some other regional currencies. I have not invested in FX before. How can I profit from it? A: As an
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  • Page 18 Advertisements
    • 347 18 Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to start investing, feature
      347 words

  • ECONOMY WATCH
    • 484 19 After two days of meetings, it failed again to reach agreement this year Bloomberg [WASHINGTON] The Doha round of World Trade Organization negotiations faces an “unbridgeable” gap and needs a new approach after a decade without striking a deal, a group of
      Bloomberg  -  484 words
    • 430 19 Officials say it will ensure reliable supply, stable prices AFP [BIG SKY, Montana] As high food prices push millions of people into poverty, major farming nations are resisting calls to impose trade restrictions and are committing to keep global markets open. APEC a
      AFP  -  430 words
    • 237 19 Bloomberg Reuters [SEOUL] The Bank of Korea should raise interest rates more aggressively to tackle fast-growing inflationary pressures, government-run think-tank Korea Development Institute said. South Korea’s most influential government research institute yesterday raised this year’s inflation forecast by nearly a full percentage point
      Bloomberg; Reuters  -  237 words
    • 274 19 Bloomberg [WASHINGTON] Consumer spending probably cooled in April as higher food and fuel prices forced Americans to cut back on other items, economists said a government report this week will show. Purchases increased 0.5 per cent, the smallest gain in
      Bloomberg  -  274 words
  • Page 19 Advertisements
    • 111 19 Finance new opportunities That’s what commercial lenders can do when they’re smart about managing risk. And smart lenders can seed innovative new businesses by working with CME Group, the world’s leading derivatives marketplace. Emerging growth companies and financial institutions around the world come to us to manage virtually every kind
      111 words

  • MALAYSIA/INDONESIA
    • 466 20 25% stake being sold by Abu Dhabi Commercial Bank is worth US$1.6b Reuters [KUALA LUMPUR] Japan’s Sumitomo Mitsui Financial Group and private equity firms Carlyle and JC Flowers are among those that submitted first-round bids for a 25 per cent stake in
      Reuters  -  466 words
    • 355 20 Bloomberg [KINSHASA] Malaysia Smelting Corp, the world’s third-biggest tin producer, signed a confidentiality agreement with the Democratic Republic of Congo to develop mineral concessions in the war-torn east, Congo’s Mines Minister Martin Kabwelulu said on Saturday. The company will take over
      Bloomberg  -  355 words
    • 429 20 Govt forecasts 2012 deficit at 1.4-1.6% of GDP Reuters [JAKARTA] Indonesia’s government expects a lower state budget deficit next year, the finance ministry said on Friday, as it tries to reduce its debt levels to win an investment grade sovereign rating and struggles to spend
      Reuters  -  429 words
    • 1913 20 VOL May 20 RM +/-(‘000) A M Realty 0.49 unch 0 Abric Bhd 0.30 -0.05 61 Advance Synerg 0.24 0.01 1680 Adventa Bhd 2.18 0.05 33 Ae Multi Hldgs 0.30 unch 620 Affin Holdings 3.52 0.02 181 Ahmad Zaki Res 0.85 -0.01 430 Aic Corp 1.06 0.05 60
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  • Page 20 Advertisements
    • 910 20 BEATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES CI It t f ft CHANG HWA COMMERCIAL BANK, LTD. CHANG HWA BANK HEAD OFFICE: TAIWAN R.O.C. BALANCE SHEETS DECEMBER 31, 2010 AND 2009 OTHER FINANCIAL ASSETS, NET LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES SHAREHOLDERS' EQUITY Capital stock 6,500,000,000 shares authorized Common stock issued
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  • GREATER CHINA/INDIA
    • 365 21 It wants to tap China’s rising demand, the biggest investment market Bloomberg [SHANGHAI] The Shanghai Gold Exchange is planning to start exchange-traded funds, tapping rising demand in China, the world’s biggest investment market for the precious metal. “There are some complexities, as the
      Bloomberg; AFP  -  365 words
    • 223 21 Bloomberg [HONG KONG] Hong Kong isn’t doing enough to take advantage of a pilot programme that allows mainland Chinese enterprises to settle overseas direct investment in yuan, Hong Kong Exchanges Clearing Ltd’s chairman Ronald Arculli said. “There is one aspect that perhaps we
      Bloomberg  -  223 words
    • 398 21 AFP [NAIROBI] India will seek to expand its economic footprint in Africa, where rival China has made major inroads, at a second summit between the south Asian powerhouse and African nations this week. Indian Prime Minister Manmohan Singh will head his country’s team to
      AFP  -  398 words
    • 464 21 Poll findings follow string of scandals, high inflation AFP [NEW DELHI] Voter support for India’s embattled ruling Congress party, which marked the second anniversary of its re-elec-tion at the weekend, has fallen “significantly”, according to a new poll. The decline in popularity comes
      AFP  -  464 words
  • Page 21 Advertisements
    • 92 21 SARASIN From Every Angle we Offer a Distinct Perspective on Wealth. We've spent some 170 years crafting distinctive private banking solutions. Bank Sarasin cherishes a balanced and sustainable approach not only in terms of growth, resources and investing, but to expertise that has been trusted for generations. Bank Sarasin offers
      92 words

  • WORLD
    • 792 22  -  Security priority was ‘no secret’; but day to day focus is the economy, he says By MALMINDERJIT SINGH AP [SINGAPORE] The United States would not hesitate to send in another covert operation into Pakistan, should the need arise, according to US
      AP  -  792 words
    • 548 22 [BARCELONA] Formula One leader Sebastian Vettel held off closest championship contender Lewis Hamilton for his fourth victory of the season at the Spanish Grand Prix yesterday. The Red Bull driver took the lead for good after the second round of pit stops to
      AP  -  548 words
    • 517 22 Reuters [NEW YORK] Britain endorsed French Finance Minister Christine Lagarde as an “outstanding candidate” for IMF chief on Saturday, the first G7 country to officially back her as Dominique Strauss-Kahn’s successor. Strauss-Kahn, who resigned as head of the International Monetary Fund after being
      Reuters; AFP  -  517 words
    • 325 22 Voters may punish ruling Socialists for economic woes Reuters [MADRID] Madrid’s Puerta del Sol square, the centre of nationwide protests against mass unemployment, yesterday boiled with political passion, gawkers and families while Spaniards voted in local elections. Tens of thousands of protesters have
      Reuters  -  325 words
    • 560 23 The dollar has risen 5% against the euro while commodity prices sink 19% NYT [NEW YORK] In January, conventional wisdom said that three long-term trends were likely to persist in 2011: the dollar would continue to fall, commodities would keep roaring, and
      NYT  -  560 words
    • 394 23 Moves reflect shift in focus to revenue growth amid falling PC demand Bloomberg [SAN FRANCISCO] Hewlett-Pack-ard Co senior vice-presidents Marius Haas, Tom Iannotti and Gary Budzinski are departing, people familiar with the matter said, adding to an exodus of managers from the
      Bloomberg; FILE PHOTO  -  394 words
    • 470 23 Move clears hurdle in UK exchange’s merger bid Reuters [LONDON] London Stock Exchange chief Xavier Rolet has welcomed a decision by merger target TMX Group to reject a rival takeover bid, clearing a key hurdle in a deal it needs in order
      Reuters  -  470 words
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  • Page 23 Advertisements
    • 72 23 With opportunities to learn from leading pioneers in the field of digital media like Professor NadiaThalmann and Professor Vibeke Sorensen, an NTU education offers you the solid foundations you need to realise your aspirations. Benefit from an unparalleled academic experience that encompasses a broad-based interdisciplinary approach, a culture of nurturing
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  • AVIATION/SHIPPING
    • 787 24 While hijacking one, as Osama plotted, is possible, blowing it up is more complex AP [NAIROBI] Supertankers the hulking, slow-moving ships that transport half the world’s oil have few defences against terrorist hijackers like those envisioned by Osama bin Laden, security experts said on
      AP  -  787 words
    • 249 24 Bloomberg [TOKYO] Pacific Basin Shipping Ltd, Hong Kong’s largest operator of dry-bulk vessels, said it was “concerned” about the outlook for rates through 2013 as a glut of new ships enter service. “We are concerned about the two years ahead of us,”
      Bloomberg  -  249 words
    • 3271 24 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1300 SQ456 1245 --EY473 1955 VA7473 1955 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 Amsterdam LO4031 0545 LO4032 2355 SQ323 0545 SQ324 2355 US5410 0545 US5411 2355 AZ3992 1525 KL835 1525 Athens
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    • 278 24 SGX '000 May 20 S$ +/-Vol CH Offshore 0.47 0.02 71 Chuan Hup Hldg 0.25 0.01 551 Cosco Corp 2.03 -0.01 ***** CWT Ltd 1.23 -0.01 1386 Ezra Hldgs 1.57 unch 2558 First Ship Lea 0.38 unch 719 Freight Links 0.06 unch 443 Grand Banks 0.50 0.04 317
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    • 483 24 An ash plume greater than 17 km was sent into the air Bloomberg AFP [REYKJAVIK] A volcanic eruption under Europe’s largest glacier, Vatnajokull, forced the closure of the main international airport in Iceland, the second disruption in 13 months to the island nation’s
      Bloomberg; AFP; AP  -  483 words
  • Page 24 Miscellaneous
    • 342 24 CRYPTIC CROSSWORD Across 1 Public entertainment coming in rounds? It disappears (6) 9 Neat act with cue going wrong producing stress (10) 10 Time, say, taken by a President once, we hear, to accept name in historic document (5,5) 11 Old boy, individual pouring out heart in instrument (4) 12
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  • DINING OUT
    • 721 25  -  NEW RESTAURANT By Audrey Phoon Anar #01-29 Resorts World Sentosa 26 Sentosa Gateway Tel: 6884-6989 IT’S high noon and the sun is beating down as we trudge across barren land wiping our sweat-drenched brow. The destination: an elaborate Bedouin tent by an oasis in the distance, where
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  • Page 25 Advertisements
    • 310 25 WINE DINE AND HOSPITALITY I OUR NEW CREATIONS VEGETARIAN RICE DUMPLING WITH ASSORTED MUSHROOMS SWEET RICE DUMPLING WITH CHESTNUT PASTE NEW CREATIONS WITH A TWIST OF TRADITION To celebrate the Dragon Boat Festival, from 31 May to 6 June 2011, Peach Blossoms offers a selection of traditional favourites such as
      310 words

  • SINGAPORE STOCKS
    • 8722 26 Week ended: May 20 52-wks Last Vol Week 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 15 -0.5 372 15.5 15 15 16.5 7.8 4.1 3.1 71.8 12 4.5 A-Sonic 8 +1.5 ***** 9.5
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    • 1706 27 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 6 4 t AA Grp 4 4 4.5 19 3.9 202 145 t APStrategic 164 157 165 97.3 1.5 0.5 t Advanced System 0.5
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    • 115 27 Stock name Close Change CapMallsAsia 1.640 -0.040 CapitaLand 3.140 -0.030 CapitaMall 1.930 +0.020 CityDev 11.280 -0.080 ComfortDelGro 1.490 +0.010 DBS Grp 14.740 -0.120 F&N 6.160 +0.030 GLP 2.010 -0.010 Genting SP 2.040 -0.030 Golden Agri 0.705 +0.005 Stock name Close Change HK Land 7.480 +0.060 JMH
      115 words
    • 2626 27 Transaction date: May 20 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.20 -0.04 16 Aeon Stores 16.10 unch 120 Angang Steel 9.15 -0.04 ***** Anhui Conch-50 31.15 -0.75 ***** Anhuiexpresswa 6.41 -0.08 999 Asia Satellite 18.40 unch 6 Asm Pacific 104.70 2.70 634 Bank Of E Asia 32.00
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    • 258 27 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A48.5 -1.5 17 49 48 48.5 52 3.6 7.2 3.9 126.3 55 16 Genting HK US$ US40.5 -2 ***** 42.5 40.5 40.5 41 2666.7
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    • 194 27 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 11 3 0 0 0 4 11 3 Manufacturing 44 107 59 5 14 16 49 121 75 Commerce 22 25 28 4 5 6 26 30 34 Tpt/Stor/Comms 13 21 12
      194 words
    • 920 27 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 112.5 +1 20 112.5 112.5 112 120 513.5 1077 761 CIMBAsean40 100US$ US1063 +11 25 1063 1039 1057 1064 42.5
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    • 121 27 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 265,941 265,941 425,549 425,549 Manufacturing 846,184 84,297 930,481 775,401 8,596 783,997 Commerce 411,631 21,935 433,566 458,746 14,522 473,268 Tpt/Stor/Comms 457,286 8,795 466,081 760,479 997 761,476 Finance 59,143 59,143 621,488 621,488 Construction 95,320 4,881 100,201 38,171
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  • Page 27 Advertisements
    • 26 27 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 28 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 922.7 -0.5 2.8 -0.6 1.1 -0.6 4.5 EAFE Preliminary 795.1 -0.6 -0.7 -0.6 -0.6 -0.6 2.7 Europe Preliminary 1188.7 -0.6
      374 words
    • 181 28 May 20 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.03 US$ Offer Bid 7 days 0.23 0.13 1 month 0.28 0.18 2 months 0.33 0.23 3 months 0.38 0.28 6 months 0.48 0.38 9 months 0.70 0.50 12
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    • 22 28 May 20 S$ Bid Offer 1-month 1.2342 1.2345 2-months 1.2341 1.2345 3-months 1.2341 1.2345 6-months 1.2339 1.2342 Source: OCBC
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    • 147 28 May 21 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jun 11 266 Jul 11 500.0 500.0 500.0 6 131 Aug 11 57 Sep 11 281 Oct 11 111 Nov 11 54 Dec 11 55 Jan 12 40 Feb
      147 words
    • 78 28 May 20 May TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 18.08.2011 0.29 1-Year BY*****X 02.05.2012 0.41 0.37 0.37 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.19 5-Year N*****0W 1.125 01.04.2016 100.01 10-Year
      78 words
    • 107 28 May 20 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 11 1380.25 1379.50 1396.00 1365.00 Aug 11 1371.75 unch 1386.75 1357.50 Sep 11 1360.25 unch 1372.25 1349.25 Nov 11 1350.50 1349.50 1361.00 1337.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 11 57.46
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    • 77 28 CRUDE OIL PRODUCTS May 19 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.17 0.25 WTI (Near Mth) 98.50 -1.24 Dubai (1-Mth F) 106.72 0.99 Tapis blend 120.12 1.18 Minas 116.52 1.18 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.89 0.67 Jet Kerosene 125.35 0.85 US$/barrel Opec Oil
      77 words
    • 2878 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 25 1 150 7 6.56 36 ASJ Hldgs W*****1 1 1 4 25 4.00 9 AlliedTech W*****2 3.5 1 4 30 Asia Water Tech Ltd W*****8 4 0.5
      2,878 words
    • 121 28 May 20 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.364 1.287 Can dollar 1.303 1.253 Euro 1.803 1.734 Sterling pound 2.045 1.967 NZ dollar 1.006 0.959 US dollar 1.255 1.207 Local dollars to 100 units of foreign
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    • 27 28 May 20 Open High Sett STI May 3169 SIMSCI May 372.0 372.5 370.0 Taiwan May 314.0 316.3 312.7 Source: MF Global (S) Pte. Ltd
      27 words
    • 65 28 May 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 11 3440 3477 3485 3440 912 9991 Jul 11 3395 3422 3435 3377 4919 ***** Aug 11 3365 3390 3407 3344 ***** ***** Sep 11 3349 3379
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    • 472 28 May 20 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun11 99.7350 0 2732 Sep11 99.6800 0 5451 Dec11 99.6000 0 1663 Mar12 99.4800 0 1578 EUROYEN TIBOR FUTURES Jun11 99.6725 0 6003 Sep11 99.6800 0 1466 Dec11 99.6825 0 1957 Mar12 99.6700 0 3877 Jun12 99.6800
      472 words
    • 464 28 May 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.032 6.939 0.745 8.308 48.007 91.253 0.872 11.574 3.217 1.346 92.108 46.094 1.319 7.348 0.939 30.756 32.349 0.658 1.069 Canada 0.969 6.721
      464 words
    • 85 28 May 20 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 28 May 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3191 1.3196 1.0688 1.0689 Canadian dollar 1.2774 1.2783 1.0350 1.0355 Euro 1.7696 1.7705 1.4338 1.4342 NZ dollar 0.9798 0.9806 0.7939 0.7943 Sterling pound 2.0035 2.0041 1.6233 1.6234
      154 words
    • 140 28 May 20 GOLD (US$/oz) May 19 May 20 Hong Kong 1497.40 1505.00 May 20 May 19 London 1507.20 1487.90 1508.20 1488.65 Source: Thomson Reuters Source: Reuters CAST BAR May 20 (S$) Selling Buying Kilobar 63,853.32 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 143 60 5gm 406 298
      140 words
    • 70 28 May 20 May Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2489.50 2481.25 3 months 2500.00 2499.00 Copper, Grade A (US$/tonne) Cash 9049.75 8927.25 3 months 9071.00 8949.00 Lead (US$/tonne) Cash 2518.00 2482.50 3 months 2510.00 2473.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
      70 words
    • 82 28 May 20 COCOA (£/tonne) Close Prev High/Low Jul 11 1816 1865 1861/1814 Sep 11 1845 1890 1887/1844 Dec 11 1874 1919 1915/1873 Mar 12 1897 1942 1935/1897 COFFEE (US$/tonne) Close Prev High/Low May 11 2534 2533 2550/2530 Jul 11 2543 2549 2577/2535 Sep 11 2579 2583 2609/2570 Nov 11
      82 words

  • 5618 29 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
    5,618 words
  • Page 29 Advertisements

  • Page 30 Advertisements
    • 42 30 Importers looking for Warehouse Can they find your services here in the Shipping Times? FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping Times? THE BUSINESS TIMES SHIPPING TIMES
      42 words

  • Page 31 Advertisements
    • 31 31 SINGAPORE’S NO.1 MEN’S MAGAZINE LUNCH ONUS! ROADSHOW •CHEVRONHOUSE,RAFFLESPLACE 19-20MAY,10AM-3PM• •MILLENIAWALK 23-25MAY,10AM-3PM• MOREDETAILSINMENSHEALTH.COM.SG »FREE LUNCH WORTH $13 $18 FROM GAELIC INNS $50 GOODIE BAG WITH EVERY COPY OF MEN’S HEALTH PURCHASED! »FABULOUSSUBSCRIPTIONGIFTS!
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    • 53 31 Choice f T ln Singapore V Pt CTi Incisive features from India, news about the local Indian community, as well as business, education, entertainment, food and sports... with an Indian slant of course. An English weekly available free every Friday at all 7-Eleven outlets For advertising enquiries, call 9171-4327 9693-0266
      53 words
  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 787 31  -  Two new models perform well on auto, but don’t leave much room for control <cool stuff > VICTORIA HO Reporter THE influx of inter-changeable-lens Micro Four Thirds cameras into the consumer market over the last couple of years has blurred the line between choosing
      787 words
    • 645 31  -  Android and iOS operating systems dominate market By AMIT ROY CHOUDHURY [SINGAPORE] Smartphones are driving sales of mobile communication devices around the world, according to data from Gartner Inc. The research agency noted that as many as 427.8 million mobile communication devices were sold
      645 words
    • 745 31  -  It aims to help businesses maintain their competitive edge By AMIT ROY CHOUDHURY [SINGAPORE] Enterprise software provider Oracle plans to enhance its current applications product lines, while simultaneously developing next-generation applications under its Applications Unlimited Programme (AUP). Oracle’s Doug Hughes says the company’s strategy
      745 words
    • 719 32  -  Insurers are also looking to use social media to increase their business, reports AMIT ROY CHOUDHURY reports AMIT ROY CHOUDHURY INSURANCE players in Singapore are planning to ramp up spending in technology by 10-20 per cent this year compared to 2010, according to
      719 words
    • <what’s up >
      • 93 32 HTC has expanded its leadership team in the region. Lennard Hoornik has been made president of HTC South Asia Pacific, and he will be based here. He will look after Singapore, India, Thailand, Malaysia, Indonesia, the Philippines, Australia and New Zealand. Jack Tong has
        93 words
      • 41 32 SONY Ericsson has appointed two senior executives for the Asia-Pacific region. Matthew Lang is the company’s new corporate vice-president and head of Asia-Pacific, while Ola Lilja Molén is vice-president of marketing for the region.
        41 words
      • 60 32  -  Compiled by VICTORIA HO QUEST Software has appointed Gary Saw its South-east Asia managing director. Mr Saw brings 15 years of IT sales and management experience to the company, and will be based out of Quest’s Asia-Pacific headquarters here. Prior to his
        60 words

  • Page 32 Advertisements
    • 180 32 •N EMERSON Network Power Turn your data center from CLOUD RISKY to CLOUD READY Step 2: You must have far-reaching remote control. What's cloud to you? The definition of cloud may be all over the place, but your device control and management can't be. To be cloud ready, you must
      180 words
    • 16 32 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements NOTICES
      16 words