The Business Times, 22 October 2011

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Microfilm: NL31670
Total Pages: 52
1 20 The Business Times
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  • Title Section
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    12 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg OCTOBER 22-23, 2011 S$1.00 MICA (P) 121/08/2011
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  • Article
    Lock icon ExxonMobil to keep upgrading
    27 1 investment OIL giant ExxonMobil already the largest player here with over US$10 billion of investments will continue to upgrade its Singapore operations. 2
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  • Article
    Lock icon Something lacking in S'pore
    26 1 innovation THERE is a lack of activity within Singapore firms to encourage innovation, a survey of 150 business leaders has found. 6
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  • Article
    Lock icon Germany, France can't agree
    40 1 eurozone crisis EUROPE’S efforts to solve its escalating debt crisis plunged into disarray after Germany and France could not bridge their differences in time for a weekend summit, forcing them to call a second meeting. 26
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  • Article
    Lock icon Here comes the CFO, minus the experience
    651 1  -  Preliminary findings of study show that CFOs of many listed firms here lack experience or accounting background By Lynette Khoo lynkhoo@sph.com.sg Singapore THEYmaybetheirchiefexecu-tives’ right-hand men at Sin-gapore-listed companies and possess many talents and qualifications. But, it appears, that having years of experience under
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  • Article
    Lock icon Dizzy new world of S’pore high rollers
    792 1  -  They show up with US$30m in hand, play for stakes never seen before By Grace Leong gleong@sph.com.sg Singapore WHEN whales come to Singapore, they make a big splash. Arriving mostly from the Asian region, they are surfacing at Marina Bay Sands with up
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  • TOP STORIES
    • Article
      Lock icon ExxonMobil to keep upgrading S’pore ops
      675 2  -  It’ll continue expanding petrochem/refining operations to ensure it caters to demand in Asia, says retiring Asia-Pac chairman and MD By Ronnie Lim ronnie@sph.com.sg Singapore OIL giant ExxonMobil already the largest player here with over US$10 billion of investments will continue to upgrade its Singapore
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    • Article
      Lock icon MARKETS
      140 2 G STI 2,712.41 (+18.40) G STI FUTURES 2,712 (+19) G SIMSCI 310.68 (+2.29) G SIMSCI FUTURES 310.00 (+2.20) STOCKS Friday Change KL COMP 1,438.83 -2.35 NIKKEI 225 8,678.89 -3.26 HANG SENG 18,025.72 +42.62 SET 916.34 +7.24 JAKARTA 3,620.66 -2.11 MANILA 4,166.60 -3.97 KOSPI 1,838.38 +33.29 SHENZHEN B 548.70 -5.79
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    • Article
      Lock icon Indian tycoons raise the roof with their new homes
      829 4  -  Set to dazzle will be liquor baron Vijay Mallya’s 40,000 sq ft, uber luxurious penthouse at the 34-storey Kingfisher Towers By Neeta Lal bt wo rl d @s p h .co m .sg New Delhi AFTER Indian tycoon Mukesh Ambani, 54,
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    • Article, Illustration
      Lock icon Money is no object
      116 4 Mr Mallya is buildinga tower block in Benguluru where he will occupy the penthouse on the 33rd and 34th floor. Total area: 40,000 sq ft. It comes with a helipad for his planes and parking area for his 250 cars which include Ferraris, Jaguars, BM Ws,
      116 words
    • Article
      Lock icon S’pore business innovation lacking: survey
      512 6  -  Companies here do not engage in innovation-sparking activities consistently, although IT sector seen as most innovative By Victoria Ho vhoip@sph.com.sg Singapore THERE is a lack of activity within Singapore firms to encourage innovation, a survey has found. Conducted across 150 business leaders here by AchieveGlobal,
      512 words
    • Article, Illustration
      Lock icon Gaddafi’s death: quick return of oil firms unlikely
      576 10 Foreign companies still concerned about stability and security: analysts. Oil prices unlikely to fall either AP Dallas MUAMMAR Gaddafi’s death isn’t likely to expedite the return of Libya’s oil output or lure back foreign companies as quickly as the interim government hopes,
      AP  -  576 words
    • Article
      Lock icon Market jitters take their toll on golf club membership prices
      348 10  -  By Ven Sreenivasan ven@sph.com.sg Singapore IN a sure sign that the prevailing economic uncertainties and market volatility are hitting sentiment for luxury purchases, open market prices of golf club memberships have fallen for the first time in more than two
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      253 2 CONTENTS NEWS Top Stories 2-10 Raffles C’versation 12-13 Week in Review 14 Companies 15-19 Singapore 20-21 From the Desk Of 22 World 24-26 Stocks Stats 27-31 Perspective 32-33 Wealth 34-39 Show Me The Money 37 Househunt 38 Real Estate 39 LIVING Dining L2-6 Style L7-8 Travel L9-11 Design L12-13 Gadgets
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      117 3 CORUM LA CHAUX-DE-FONDS SUISSE s: M mm Sj V i V A A t 7 X GOLDEN m BRIDGE AUTOMATIC Linear-winding automatic movement, 18K red gold case with sapphire crystal sides and back. Engraved gold version of the first CORUM automatic baguette-shaped movement. CORTINA WATCH ESPACE Millenia Walk Tel: 6339
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      196 5 When Cindy first started experiencing headaches, movement difficulties, tremors and other ailments, she never expected to be diagnosed with a rare disease called Hashimoto's Encephalopathy. Besides her regular treatments, she underwent occupational therapy sessions which engaged her in various art-making activities such as copper tooling and sketching. Cindy found excitement
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      353 6 Factory/Office for Rent Floor Area: 1899 square metres Located at Woodlands Sector 1 (Spectrum 1) Big Parking compound; 40 ft container accessible 3-Storey Agents Welcome Call Jenny Tan at 9366 1979 ■Hi -I!y t 0 mfirpi iiiiiiiiii.n *3? L' saws.'V J r v r"'r r;i ffciC i^e ►35 ►as ►aS
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      536 7 ESPLANADE PRESENTS 4-13 NOV 2011 Celebrate Deepavali with the textures, colours and emotions of Indian Music, Dance Literary Arts! INDIAN FESTIVAL fv MM *•> f A SHAAN IN CONCERT Remembering Kishore Kumar (INDIA) 4 Nov 2011, Fri, 8pm Esplanade Theatre An unforgettable experience with songs of two idols $48*, $68**,
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      31 8 PromotionPeriod:Saturday,October22ntoMonday,November21,2011I MENU: SinChewCrabLegwithBakedSakeLobster(WinnerofStarChefAwards2011for 'BestAppetizer'category) Double-boiledChickenSoupwith WildBambooPith IndulgeinTheCathayRestaurant's StarChefAward6-Course SetMenu 35%atoff* StewedBeefTenderloinwith SpecialSauce SteamedSoonHockFillet withChineseWine StewedEe-FuNoodlewith WholeAbalone(8Heads) Chilled Coconut Jelly Address:TheCathayRestaurant,2HandyRoad,#02-01,Singapore*****3 Website:www.thecathayrestaurant.com.sg Facebookpage:www.facebook.com/TheCathayRestaurant *Minimum2todineonweekdaysonly,exceptpublicholidays.Validforlunchanddinner.EachStarChefAward setisworth$98++perperson.Notvalidwithanyothercreditcardpromotionsordiscounts.Priceis subjecttotaxesandsurcharge.Forreservations,pleasecallTheCathayRestaurant at*****888oremailreservations@thecathayrestaurant.com.sg THEBUSINESSTIMES th Anniversary Toenjoythisoffer,pleasepresentthisadtotherestaurant Diningdeals
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      37 8 MATTRESSSAGGING? SLEEP ON WATER! Most spring mattresses will sag, but a waterbed won’t. It just helps you achieve the best possible sleep. FANTASY WATERBEDS SLEEP CENTRE #01-15/16 The Furniture Mall (The Plaza) 7500D Beach Road Tel: 6469-1381
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      2576 9 thebusinesstimesweekendwww.businesstimes.com.sg SEPTEMBER 24-25, 2011 S$1.00 MICA (P) 121/08/2011 weekend www.businesstimes.com.sg SEPTEMBER 24-25, 2011 S$1.00 MICA (P) 121/08/2011 the raffles conversation CAREER DIPLOMAT BARRYDESKER 12-13 cheap funds Local banks to slash savings ratesDBS Bank, OCBC DBS Bank and UOB will offer amere 0.05 per cent mere come October, even asHSBC and
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      224 11 THE STRAITS TIMES. Get the All-in-One news experience for just $2 more! ■m > With a newspaper subscription at $24.65* A per month, add $2 to enjoy our Online, iPad and iPhone editions. For a limited period only. r v. 4 STEPS TO QUICK ACCESS: 1 Visit www.stsubscribe.com: select ST
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Making a world of difference
      2269 12/13  -  Thirty years ago, Hans-Paul Bürkner left an uninspiring job in banking to answer an intriguing ad in the newspapers. Today, as CEO of Boston Consulting Group, he has more than risen to the challenge. By Kenneth James kenjames@sph.com.sg GERMANY, 1981. A Rhodes scholar, shiny new
      YEN MENG JIIN  -  2,269 words
    • Article
      Lock icon Crisis and opportunity
      561 12/13 WHILE businesses and governments worry about an impending global economic crisis, Boston Consulting Group (BCG) CEO Hans-Paul Bürkner advises companies to act on the opportunities this situation offers. Indeed, because “the world is changing fundamentally”, choosing to sit tight and do nothing could work against you, Mr
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK Oct 17-21, 2011
      • Article
        Lock icon China fights to dispel shadow over its SMEs
        60 14 A GRIM battle is raging in Wenzhou to pump some life back into its dying small and medium enterprises. Starved of funds and racked by debt, many SMEs in this industrial city in Zhejiang province have defaulted while 100 or so CEOs
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      • Article
        Lock icon Genting rolls dice worth US$830m in New York
        48 14 BARELY a year after breaking ground, the finishing touches are already being applied to the Genting Group’s massive US$830 million casino in New York City a mega-project the Malaysian giant hopes will significantly boost its brand in the United States.
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      • Article
        Lock icon Up to 50 banks may need to boost capital: G-20
        55 14 OFFICIALS at the G-20 summit in Paris indicated that between 28 and 50 European and other global banks needed to boost their capital. Financial Stability Board chairman Mario Draghi will publish the list in time for the G-20 leaders meeting
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      • Article
        Lock icon K-Reit buying 87.5% of Ocean Financial Centre
        30 14 K-REIT Asia will fork out some $1.57 billion to buy parent company Keppel Land’s entire stake in the Ocean Financial Centre office building.
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      • Article
        Lock icon No sign of slowdown in private home buying
        64 14 THE latest developer sales num- bers for September gave no hint of any slowdown in private home buying. Most analysts said September’s surprisingly strong sales, released by the Urban Redevelopment Authority, were driven by developers rolling out new projects, especially in Outside
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      • Article
        Lock icon Exports surprise with 4.5% fall in Sept
        37 14 NON-OIL domestic exports unexpectedly fell 4.5 per cent year-on-year in September, leading some economists to see a likely downward revision of the official economic growth estimates for the third quarter.
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      • Article
        Lock icon Parkway tries Turkish delight
        69 14 PARKWAY Pantai is aiming to become more than just a Pan-Asian healthcare services player, even as its Singapore operations are expected to hit $1 billion in revenue in 2013, following the opening of its newest Parkway Novena Hospital. The group’s parent firm Integrated Healthcare Holdings has
        69 words
      • Article
        Lock icon Investment bankers feel pinch as fat is trimmed
        51 14 SOME foreign banks have cut investment banking jobs in Singapore at a time when deal flows have slowed to a trickle. But industry watchers stressed that the cuts made in Singapore so far have been measured and are part of global cost-cutting
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      • Article, Illustration
        Lock icon BIG LOSSES
        24 14 Vehicles at a Honda car factory submerged in floodwaters. It may take carmakers 4-6 months to regain lost ground, say analysts AP
        AP  -  24 words
      • Article
        Lock icon Not time yet to remove cooling measures: Khaw
        43 14 NATIONAL Development Minister Khaw Boon Wan told Parliament on Wednesday that it is not time yet to remove property cooling measures and that the government will continue to release land to meet private housing demand.
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      • Article
        Lock icon Europe rocked by Spanish downgrade, Greek strikes
        41 14 MARKET enthusiasm has been dampened by a Moody’s downgrade of Spain’s sovereign debt while 10-year French sovereign bond yields jumped to 3.22 per cent compared with German bund yields of around 2.12 per cent.
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      • Article
        Lock icon Floods may rob Thailand of 100,000 cars
        59 14 AS the floods assailing Thailand continue to put the brakes on production, car manufacturers could be staring at combined production volume losses of 80,000-100,000 units if plants remain closed in the coming weeks. Singapore could also take a hit as some of the
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      • Article
        Lock icon In new normal, 3% growth a year is good: PM
        50 14 SINGAPOREANS should accept the reality that achieving economic growth of 3 per cent or so a year for the next ten years would represent “a good decade” in a changing global environment, said Prime Minister Lee Hsien Loong on Thursday.
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    • Article
      Lock icon NEXT WEEK Oct 24-28, 2011
      79 14 US DATA Oct 25 Oct consumer confidence Oct 26 September new home sales Oct 27 GDP for 3rd quarter 2011 Oct 28 October consumer sentiment SINGAPORE DATA Oct 24 Sept consumer price index Oct 25 Sept index of ind’l production Oct 28 Sept producer and
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      38 14 2010 EDITION A collection from The Business Times 52 interviews by The Business Times journalists The diverse experiences of some of the most influential thinkers, corporate chiefs and social activists of the age Available at all leading bookstores
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  • Page 14 Miscellaneous
    • Miscellaneous
      Lock icon Page 14 Miscellaneous Column 1
      336 14 CRYPTIC CROSSWORD Across 1 Here you see what may make crowds so cruel (9,4) 10 Fellow following Judah’s son continuously (2,3,2) 11 It makes sense if it is used to win at cards (7) 12 Put down, face to back (4) 13 Skins reversed to show nap (5) 14 Blonde
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  • COMPANIES
    • Article
      Lock icon CapitaLand Q3 profit dives 83% to $80m
      399 15  -  Earnings hit by fewer project completions in Australia, China; new accounting rule effect By Uma Shankari shankari@sph.com.sg CAPITALAND’S third-quarter net profit plunged 83 per cent from a year ago due to fewer project completions in China and Australia and the effect of restating
      399 words
    • Article
      Lock icon Synear confirms contaminated food batch recall
      403 15  -  By Lynette Khoo lynkhoo@sph.com.sg SYNEAR Food Holdings yesterday confirmed that it had in July recalled a batch of savoury dumplings that failed to meet China’s food safety requirements. The total retail value of the recalled batch of products was 40,000 yuan (S$7,950), which will
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    • Article
      Lock icon LME must keep its unique trading blend for sale to work
      330 15 Reuters London LEADING London Metal Exchange (LME) shareholders will insist on retaining key elements of the 134-year-old exchange’s unique trading and business model as a condition to agree any sale, they told Reuters yesterday. The LME offers standard one-
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    • Article
      Lock icon TTJ gets $34m of new contracts
      262 15  -  By Dolly Chia dchia@sph.com.sg TTJ Holdings has secured new contracts totalling $34 million, building its order book to $181 million, up from $147 million last month. As part of the new contracts, TTJ will supply and install civil defence shelter doors for the MRT
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    • Article
      Lock icon The ‘Louis Vuitton effect’ on hedge funds
      502 16  -  Western firms seen acquiring Asian funds as consolidation turns more attractive By Jamie Lee leejamie@sph.com.sg A WAVE of consolidation in the hedge fund industry could see Western firms snapping up funds in Asia. One reason, according to London Business School’s Bill Fung, is
      502 words
    • Article, Illustration
      Lock icon Secondary listings allow investors to get familiar with companies: Bocker
      359 16  -  By Kelly Tay kellytay@sph.com.sg EVEN though secondary listings in Singapore have, by and large, performed below expectations, investors concerned about their illiquidity may be missing the bigger picture. In fact, Magnus Bocker, chief executive officer of the Singapore Exchange (SGX),
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    • Article
      Lock icon Volatility makes PE investors’ exit from Asia-Pacific harder
      657 16  -  Global PE-backed IPO activity plunges 84% in Q3 on rising double-dip fears: E&Y By Siow Li Sen lisen@sph.com.sg PRIVATE equity (PE) investors have found it harder to exit their investments amid volatile markets though smaller IPOs still managed to get done in
      657 words
    • Article, Illustration
      Lock icon Interest in warrants a telling factor
      580 18  -  stocks| R Sivanithy sivan@sph.com.sg Senior correspondent IT speaks volumes about the current state of the stock market that almost every day this week, structured warrants on the Hang Seng Index have been among the most actively traded counters. This was also true of yesterday’s
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    • Article
      Lock icon SIA, Ethiopian codeshare deal
      149 18 SINGAPORE Airlines has signed a codeshare agreement with Ethiopian Airlines which will allow its passengers to fly to the African nation’s capital city Addis Ababa from Nov 1. Under the agreement, SIA will add its SQ code to Ethiopian-operated flights running daily between Dubai and Addis
      149 words
    • Business briefing
      • Article
        Lock icon CityDev unit says it will post 9-month loss
        92 18 CITY Developments’ subsidiary, City e-Solutions Ltd, warned that it expects to report losses for the nine months ended Sept 30, 2011, compared to a profit of HK$15.2 million a year ago. The group also expects to record a “bigger loss” compared with
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      • Article
        Lock icon Aztech reports $3.8m loss in Q3
        93 18 AZTECH Group announced a net loss of $3.8 million for the third quarter ended Sept 30, 2011, a reversal from the net profit of $1.6 million a year ago. The loss was due to an increase in unrealised exchange loss of $2.22 million because
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      • Article
        Lock icon SGX seeks views on proposed index derivative
        116 18 THE Singapore Exchange (SGX) is seeking public comment on the inclusion of MSCI Indonesian Index futures to its suite of Asian equity index derivatives. To be denominated in US dollar, the instrument offers investors an alternative trading platform to the over-the-counter market, and
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    • Article
      Lock icon TOP 20 ACTIVES
      110 18 VOL CLOSE GoldenAgri 82,074 61.5 0.0 0.0 STXOSV 49,763 102 -10.5 -9.3 PSLHldgs 46,348 32.5 2.5 8.3 GentingSP 39,576 160 2.0 1.3 HPHTrustUS$ 32,147 65.5 3.8 4.8 NobleGrp 29,378 142 3.5 2.5 SingTel 20,686 319 3.0 0.9 EuNetworks 19,516 1.6 0.1 6.7 NtegratorW*****6 18,980 0.2 0.0 0.0
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    • Article
      Lock icon STI STOCKS
      108 18 Stock name Close Change CapMallsAsia 1.245 +0.010 CapitaLand 2.450 +0.040 CapitaMall 1.860 +0.020 CityDev 9.940 +0.080 ComfortDelGro 1.330 -0.010 DBS Grp 11.820 +0.060 F&N 5.920 +0.010 GLP 1.580 Genting SP 1.600 +0.020 Golden Agri 0.615 HK Land 4.700 +0.050 JMH 49.760 -0.190 JSH 28.070 +0.200 Jardine C&C 41.250
      108 words
    • Article
      Lock icon TOP GAINERS
      69 18 BY CENTS CLOSE UP OCBC Bk 5.1%NCPS 100 ***** 119.0 1.1 DBXT FTVietnam 10US$ 2387 106.1 3.6 DBXT MSKorea 10US$ 5141 80.6 1.2 DBXT MSEurope 10US$ 4079 32.0 0.6 JSH 2807 25.6 0.7 Lyxor US DJIA 10 US$ 1177 21.7 1.5 IS Asia BND 100US 971 20.5 1.7
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    • Article
      Lock icon TOP LOSERS
      59 18 BY CENTS CLOSEDOWN DBXT Nifty 10US$ ***** -108.7 -0.8 IS S&P500 ***** -84.4 -0.5 STXPO 100 773 -64.0 -7.6 Pru 500US$ 965 -55.0 -4.3 DBXT MSTaiwan 10US$ 1597 -51.2 -2.4 CIMBAsean40 100US$ 933 -25.6 -2.1 DBXT MSTHAI 10US$ 1414 -25.6 -1.4 JMH 4976 -24.3 -0.4 Lyxor Asia 10US$
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    • Article, Illustration
      Lock icon Rest of Asia ‘could perhaps gain from change in China’
      528 19  -  By Michelle Tan michtyz@sph.com.sg DOES Asia’s growth titan, China, deserve to remain the apple of investors’ eyes? This issue was among questions raised yesterday at The Business Times Investment Dialogue 2011, which was presented by Bank Julius Baer. According to
      ARTHUR LEE  -  528 words
    • Article
      Lock icon Causeway Point helps FCT post record quarterly, full-year DPUs
      449 19  -  Q4 DPU rises 8.8% to 2.35 cents, taking FY11 DPU to 8.32 cents; Q4 NPI jumps 13.7% By Mindy Tan tanmindy@sph.com.sg FRASERS Centrepoint Trust (FCT) yesterday posted record quarterly and full-year distributions per unit (DPUs), helped by the strong performance upswing
      449 words
    • Article
      Lock icon First Reit’s amount distributable for Q3 rises to $12.08m
      385 19  -  By Nisha Ramchandani nishar@sph.com.sg FIRST Real Estate Investment Trust (First Reit) saw the amount distributable for the third quarter ended Sept 30 rise to $12.08 million, up from $5.35 million in the previous corresponding quarter. This was helped by other gain
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      304 15 NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF MONIN ASIA PRIVATE LIMITED (IN MEMBERS’VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****5930C) At an Extraordinary General Meeting of the members of the above-named Company held at 10 Anson Road #12-14 International Plaza Singapore *****3 on 15 October
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  • Page 17 Advertisements
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      699 17 ilEV IEV HOLDINGS LIMITED (Company Registration No.: *****7734D) (Incorporated in the Republic of Singapore on 26 July 2011) Invitation in respect of 37,000,000 New Shares at S$0.30 each by way of placement, payable in full on application APPLICATION RESULTS The Board of Directors of IEV Holdings Limited (the "Company") is
      699 words
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  • SINGAPORE
    • Article
      Lock icon Growth and happiness issue discussed again
      486 20  -  MPs from both the ruling party and the Opposition give their takes on the issue after it’s raised by PAP MP Penny Low yesterday in parliament By Chuang Peck Ming peckming@sph.com.sg THE rebuttals and clarifications have not put the issue to rest. The question
      486 words
    • Article, Illustration
      Lock icon Uniqlo plans 15 more stores here in 3 years
      410 20  -  Its S-E Asia HQ in Singapore could be set up by year-end By Nisha Ramchandani nishar@sph.com.sg JAPAN fashion retailer Uniqlo, which is planning to set up a regional headquarters in Singapore, is looking to quadruple its outlets here from five to
      FILE PHOTO  -  410 words
    • Briefing
      • Article
        Lock icon Work pass entry criteria
        67 20 tightened to raise standard THE government has not tightened foreign worker quotas, but only the entry criteria for work passes. And this was done to raise the standard and quality of the workers, according to Minister of State for Manpower Tan Chuan-Jin. He said the government
        67 words
      • Article
        Lock icon Thai rice’s export price up 9% from Jan to Sept
        133 20 THE export price of the Thai fragrant rice Singaporeans like jumped about 9 per cent from January to September, Minister of State for Trade and Industry Lee Yi Shyan said yesterday when he was asked about the fallout of the
        133 words
      • Article
        Lock icon Fewer reports of loan sharking and harassment
        186 20 REPORTS of loan sharking and harassment have dropped, while authorities have moved against legal moneylenders who have broken the law. Second Minister for Home Affairs S Iswaran said the reports of illegal moneylending and harassment fell 24 per cent to 10,439 in the
        186 words
    • Article
      Lock icon Merck to invest US$800m in Singapore
      515 21  -  Manufacturing facilities to be upgraded, research capabilities to be strengthened in the next 10 years By Chen Huifen xuifen@sph.com.sg DRUG giant Merck Co may be cutting jobs elsewhere, but in Singapore, it is planning to invest US$800 million over the next 10 years in
      515 words
    • Article
      Lock icon Lift capabilities of local firms, urge economists
      430 21  -  By Lynn Kan lynnkan@sph.com.sg AS Singapore’s economic policies become more welfare-minded, policymakers need to improve social safety nets and change the course of development policy, local economists say. Speakers at the Singapore Economic Policy Forum yesterday called for policymakers to focus on boosting
      430 words
    • Article
      Lock icon More help at hand for debtors and bankrupts
      237 21 DEBTORS and the bankrupt will get more help from the Insolvency and PublicTrustee’sOffice (Ipto)towork towards repaying their debts and being discharged from bankruptcy. The Ipto yesterday announced two financial rehabilitation programmes one providing financial counselling and the other, job referral and skills
      237 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Getting on board boating and yachting
      877 22  -  You don’t need to be a multimillionaire in order to enjoy the nautical lifestyle. Join the seafaring community by becoming a member of a marina club, of which there are several in Singapore from the desk of Tan Kay Toh Commodore Republic of Singapore
      877 words
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      586 23 /A\ VV II M A S T H SI I @0(Di7[iaQfl o ©EDGOPQ o Lifestyle azdiidKjji L2»lrLnl Gourmet Signatures Cuisine of Chef David Du 1-13 Nov Lunch Dinner mezza9 Cuisine of Chef Max Levy 7-13 Nov Lunch Dinner KU DETA Restaurant Cuisine of Chef Wan 13-19 Nov Lunch, Dinner Masterclass
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  • WORLD
    • Article, Illustration
      Lock icon Saab owner spurns Chinese takeover offer
      550 24 North Street pressing ahead with US$70m deal that will keep struggling carmaker alive Reuters Amsterdam THE chief executive of Swedish Automobile, owner of troubled carmaker Saab, said yesterday that he had turned down a full-blown takeover offer from China’s Zhejiang Youngman Lotus Automobile Co
      Reuters; AFP FILE PHOTO  -  550 words
    • Article
      Lock icon Jakarta may pass bill on new financial regulator by Oct 27
      323 24 Reuters Jakarta INDONESIA’S parliament expects to pass a longdelayed bill creating a new financial regulator next week, after resolving the main sticking point of who will choose its board of commissioners, a lawmaker said yesterday. The new regulator, to
      Reuters  -  323 words
    • Article
      Lock icon OSK sees improved result for BN in next Malaysian GE
      412 24  -  Ruling coalition has recovered some support, says bank By S Jayasankaran btworld@sph.com.sg Kuala Lumpur IN a take that has surprised many, investment bank OSK has predicted that the ruling Barisan Nasional (BN) coalition will improve on its 2008 performance due
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    • Article
      Lock icon Japan govt approves US$157b quake budget
      557 25 Ruling Democrats are negotiating with opposition parties that control the upper house to secure their support, with the aim of submitting bills on Oct 28 Reuters Tokyo JAPAN’s government approved a US$157 billion extra budget yesterday including the issuance of new bonds to pay
      Reuters  -  557 words
    • Article, Illustration
      Lock icon Ex-Wall Street banker identified as key figure in Olympus scandal
      632 25 Ex-CEO’s documents show whopping US$687m paid as advisory fee Reuters Tokyo A FORMER Wall Street banker of Japanese descent has emerged as a key figure in the scandal engulfing Japanese blue-chip firm Olympus Corp, according to documents provided by the
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      Lock icon Extra meeting to find EU debt crisis solution
      568 26 Berlin, Paris still at loggerheads on how to scale up rescue fund and reduce Greek debt Reuters Bloomberg Brussels EUROPE’S efforts to solve its escalating debt crisis plunged into disarray after Germany and France could not bridge their differences in time for
      Reuters; Bloomberg; REUTERS  -  568 words
    • Article
      Lock icon Murdoch’s News Int’l to pay £2m to slain girl’s family
      349 26 AFP London NEWS International confirmed yesterday that it would pay £2 million (S$4.1 million) to the family of a murdered girl at the heart of Britain’s phone-hacking scandal, just hours before Rupert Murdoch faces angry shareholders. In a joint statement
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    • Article
      Lock icon Floodwaters spill into northern Bangkok
      332 26 AFP Bangkok Millions of nervous Bangkok residents were warned yesterday to move their belongings to safety as the kingdom’s worst floods in decades poured into the outskirts of the sprawling city. In a desperate attempt to drain the mass of muddy water, the authorities have
      AFP  -  332 words
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      41 25 herworld.com Sign up as a member and stand to win over $10,000 worth of prizes! > For more details, please visit: www.herworld.com/bt Kara Ross clutch ring worth $1,230 From Doorstep Luxury > 1 3A lv* $500 Gift Voucher From Calvin Klein Jeans SPHmagazines
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  • SGX
    • Article
      Lock icon SGX CATALIST
      9543 30 Transaction date: Oct 21 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 $mil 21 12 8Telecom 13.5 +1 198 13.5 13.5 13.5 13.8 7.8 4.5 2.8 64.7 9.5 4.1 A-Sonic 4.6 4.6 5 2.8
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 30 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 1 2 0 0 0 9 1 2 Manufacturing 51 33 40 2 5 5 53 38 45 Commerce 19 12 8 7 2 2 26 14 10 Tpt/Stor/Comms 15 12 10
      186 words
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      Lock icon BT SHARE INFORMATION SERVICE
      812 30 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Oct 17 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Koda Ltd 20-Oct-11 James Koh Jyh G Buy 555 0.09 ***** 20.12 ***** 20.53 Koda Ltd 20-Oct-11
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      Lock icon SECURITIES TRADING TURNOVER
      119 30 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 36,966 36,966 108,971 108,971 Manufacturing 106,851 2,441 109,292 91,910 51 91,961 Commerce 69,711 3,946 73,657 88,107 434 88,541 Tpt/Stor/Comms 161,558 458 162,016 200,488 44 200,532 Finance 9,047 9,047 81,663 81,663 Construction 68,703 2,499 71,202 21,688
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  • MARKETS
    • Article
      Lock icon LIFFE
      82 31 Oct 20 COCOA (£/tonne) Close Prev High/Low Dec 11 1671 1687 1685/1666 Mar 12 1691 1706 1706/1686 May 12 1706 1721 1723/1702 Jul 12 1721 1734 1736/1715 COFFEE (US$/tonne) Close Prev High/Low Nov 11 1814 1872 1882/1805 Jan 12 1848 1899 1910/1840 Mar 12 1878 1929 1935/1871 May 12
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    • Article
      Lock icon METALS
      68 31 Oct 21 GOLD (US$/oz) Oct 20 Oct 21 Hong Kong 1627.*****7.00 Oct 19 Oct 20 London 1648.*****3.89 1650.*****4.80 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 39.17 38.50 Source: UOB PLATINUM Lon (US$/oz) Oct 20 Close Previous PM Fix 1490.*****2.00 AM Fix 1490.*****5.00 Source: Thomson Reuters PLATINUM /NYMEX
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      Lock icon CHICAGO BOT
      95 31 Oct 20 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Nov 11 1225.00 unch 1226.*****1.50 Jan 12 1230.*****1.*****2.*****7.50 Mar 12 1237.*****8.*****9.*****5.00 May 12 1243.*****3.*****3.*****0.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Dec 11 51.39 51.48 51.57 50.54 Jan 12 51.66 51.74 51.82 50.81 Mar 12 52.00
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      Lock icon PALM OIL
      57 31 Oct 21 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 11 2935 2860 2935 2869 364 6265 Dec 11 2900 2866 2908 2869 1390 ***** Jan 12 2895 2866 2903 2867 ***** ***** Feb 12 2900 2873
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      Lock icon GOVERNMENT SECURITIES
      79 31 Oct 21 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****S 19.01.2012 0.26 0.2 0.2 1-Year BY*****X 02.05.2012 0.25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.48 5-Year N*****0W 1.125 01.04.2016 102.59 102.69 102.69
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      Lock icon INTERBANK CURRENCY RATES
      154 31 Oct 21 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3084 1.3107 1.0232 1.0242 Canadian dollar 1.2574 1.2589 0.9834 0.9838 Euro 1.7574 1.7591 1.3744 1.3746 NZ dollar 1.0129 1.0142 0.7921 0.7925 Sterling pound 2.0183 2.0203 1.5784 1.5787
      154 words
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      Lock icon OIL
      75 31 Oct 20 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 108.60 -2.52 WTI (Near Mth) 85.85 -0.26 Dubai (1-Mth F) 105.14 -1.26 Tapis blend 117.51 -1.44 Minas 110.71 -1.44 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 96.22 -2.34 Jet Kerosene 124.34 -1.29 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      374 31 In local curr In S$ In US$ dy yr dy yr dy yr Oct 20 Index Change Change Change Change Change Change World Index Preliminary 807.2 -0.8 -10.1 -0.6 -10.0 -1.1 -9.3 ‡EAFE Preliminary 674.0 -1.4 -15.8 -1.4 -14.6 -1.9 -13.9 Europe Preliminary 995.9 -1.5
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 31 Oct 21 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.333 1.27 Can dollar 1.276 1.227 Euro 1.787 1.719 Sterling pound 2.048 1.97 NZ dollar 1.038 0.989 US dollar 1.292 1.243 Local dollars to 100 units of foreign currency: Currencies Sell
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      Lock icon LONDON METALS
      71 31 Oct 20 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2063.50 2160.00 3 months 2085.00 2182.00 Copper, Grade A (US$/tonne) Cash 6721.50 7196.75 3 months 6735.00 7210.00 Lead (US$/tonne) Cash 1765.25 1846.50 3 months 1790.00 1870.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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      Lock icon STOCK MARKETS
      87 31 YTD change:-14.97% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg YTD change:-21.75% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg YTD change:-0.31% 52-week high: 12,876.00 on May 2,2011 52-week low: 10,404.40 on Oct 4,2011 (Chart shows
      Source: Bloomberg  -  87 words
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      127 31 SMX MARKET UPDATE As on 20 October 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS GOLD FUT DEC2011 1631.50 1606.20 1612.80 1647.20 SILVER FUT DEC2011 31.215 30.320 30.275 31.285 CURRENCY AUD-USD FUT DEC2011 1.0227 1.0075 1.0163 1.0164 EUR-USD FUT DEC2011 1.3836 1.3650 1.3725 1.3746 GBP-USD FUT DEC2011
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon The quest for inclusive growth
      1477 32 / 33  -  While a growth-at-all-costs policy is not advisable, history suggests that job creation is still the most inclusive policy of all, and higher growth means more jobs Vikram Khanna vikram@sph.com.sg Associate Editor ‘WE represent the 99 per cent.” That is the slogan adopted by the Occupy
      AP  -  1,477 words
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      Lock icon Libya’s shadow on sovereign wealth funds
      753 32 / 33  -  By Efraim Chalamish New York ~The writer is an international economic law scholar and adviser, and the founder of the Global Center for Economic Development and Security AS Libya’s citizens rebuild their lives and economy, undoing the corruption in the Libyan Investment Authority (LIA),
      753 words
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Chasing investments
        1451 34 / 35  -  In these perilious markets, those investing fall into 3 distinct approaches: the bargain hunters, the natural resource crowd and the bettors.By bettors.By Paul Sullivan Bloomberg NICOLASBerg-gruen is nateaboutinvesting. A compact, handsomebillionaire, Mr Berggruen is often talked about for his eccentricities he does not own a home, preferring to
        Bloomberg; AFP  -  1,451 words
      • BROKERS' TAKE
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          Lock icon Singapore Banks
          186 34 / 35 DMG Partners Research Oct 21| TEMASEK Holdings is raising up to S$800 million through the sale of a three-year zero coupon bond that can be exchanged into Standard Chartered’s stock at a 27 per cent premium over the bank’s £14.29 closing price on Monday, Oct 17. While Temasek
          186 words
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          Lock icon Keppel Corporation
          491 34 / 35  -  Compiled by Conrad Tan Buy OCBC Investment Research Oct 21 Close: S$8.95 KEPPEL Corporation reported an 18.1 per cent year on year rise in revenue to S$2.7 billion and a 33.3 per cent increase in net profit to S$406.1 million in Q3 2011, such that the 9M 2011
          491 words
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        Lock icon Protests become stimulus package for some
        1229 36  -  New York’s financial titans are cranking up their security measures as the mood on Main Street turns increasingly hostile. By Kevin Roose NYT THEY call when they make the Forbes 400 list. They call when annual hedge fund rankings appear, when their names are
        NYT; AP  -  1,229 words
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        Lock icon Opportunities despite poor sentiment
        1601 37  -  Companies with under-appreciated value will eventually be recognised, either via privatisation or when the market recovers show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent BENNY Ong, founding director of Life Planning Associates, called me last week to say that he had something to share
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    • WEALTH REAL ESTATE
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      50 40 M iUDEMARS PlGUET Le maitre de I'horlogerie depuis 1875 1 i 1 Wm pf-s f < W. fipr l ift I a w ■y'^r <mv. m w«e Kii ®»1S8H SSltssP HHHL Hi I SgdHn f<\ -TV -V .AvA JISU •f§^ 81 JULES AUDEMARS EXTRA-THIN For enquiries, Tel: (65) 6238 6678
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      60 1 LivingTHEBUSINESSTIMESWEEKEND|OCTOBER22-*****1BTTHE BUSINESS TIMES WEEKEND OCTOBER 22-23 2011 OLD IS GOLD A crop of new eateries play on nostalgia and go retro PHOTO: YEN MENG JIIN GUEST CHEF Anthony Genovese L5-6 BT CORPORATE GOLF League of extraordinary golfers L16-17 TRAVEL Carbon neutral luxury L10-11 STYLE Haute couture looks east L7-8 MOTORING
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  • BT Living
    • DINING
      • Article
        Lock icon OLD IS GOLD
        17 2/3 A crop of new eateries play on nostalgia with retro interiors and vintage themes.
        17 words
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        Lock icon Escape to 1984
        711 2/3  -  By Debbie Yong debyong@sph.com.sg The Coffee Daily 75 Brighton Crescent, Singapore *****6 Z6284-8894 Open Tues-Sun 9am-6pm, Fri 9am-4pm MOST people look out for things like location, rental and accessibility when scouting for a retail venue, but for The Coffee Daily’sco-ownerAlexTan,it was thefloor. “I fell in love with
        PHOTOS OF THE COFFEE DAILY BY YEN MENG JIIN  -  711 words
      • Article, Illustration
        Lock icon Seeing stars
        522 4 L’etoile Cafe 160 Owen Road, Singapore *****3 Z6298-2872 Open Tues-Sun 9am-8pm NAMED based on its owner’s whim, L’etoile which means star in French has lately fulfilled its namesake by becoming a hangout spot among the stars. Local actor Chen Hanwei has been spotted sipping at the two-month-old cafe
        522 words
      • Article, Illustration
        Lock icon Spin and dine
        739 2/3 12” Pizza 70 Jellicoe Road, V Hotel, Level 4 Z6296-1622 Open 12-2.30pm and 6-10.20pm daily WHAT do pizzas and vinyl records have in common? One, they both evoke a sense of communal sharing, according to Danny Loong, co-founder and chief creative director of the Timbre Group, which
        739 words
      • Article, Illustration
        Lock icon The lure of Asia
        809 5  -  Italian chef Anthony Genovese’s love for spices and Asian cooking methods has served him well at his two Michelin star restaurant. guest chef By Cheah Ui-Hoon IT WASN’T easy trying to introduce new style cuisine to Italians, but two Michelin star chef Anthony Genovese’s perseverance eventually
        809 words
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        Lock icon Cooking Masterclass: Chef Anthony Genovese
        365 6 Fried-smoked amberjack, rolled courgettes, and citrus tea (Serves 4) Ingredients Fish: 4 fillets of 60g amberjack or sea bass 200g smoked eel, cut into cubes Marinade: 100g brown sugar A sprig of thyme 30 peppercorns 30 fennel seeds 30 anise seeds Method Blend all the
        365 words
    • SHOPPING
      • Article, Illustration
        Lock icon Haute couture goes East
        1431 7  -  EastCouture houses realise that Asia is where the money is. EastCouture By EastCouture Melissa Lwee-Ramsay IF there was a pinnacle fashion event, it would have to be Paris Haute Couture Week theloftiest of all lofty fashion weeks, a bi-annual celebration of inaccessible French glamour. That is,
        1,431 words
    • TRAVEL
      • Article, Illustration
        Lock icon Working up an appetite
        648 9  -  New celebrity chefs and restaurants popping up everywhere have brought a buzz back to Sydney. By Dylan Tan SYDNEY-SIDERSareredis-covering their taste buds and arguably, it’s thanks to reality cooking program MasterChef Australia. With the country’s multicultural mix of people as well as the abundance of fresh
        648 words
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        Lock icon Carbon neutral luxury
        981 10 / 11  -  Spoil yourself without destroying the environment at Australia’s 6-star Wolgan Valley Resort and Spa, the first hotel in the world to achieve carbon neutral status. By Dylan Tan dylant@sph.com.sg DON’Tworryifyou’veleftyourmo-bile phone charger at home when you arrive at Wolgan Valley Resort and Spa;you’renotgonna need it. Sited between
        981 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Designer showcase
        1111 12 / 13  -  In the case of Aisha Ashraf Khawaja’s home, this is literally true for she is an interior architect with her own design firm. personal space By Geoffrey Eu btnews@sph.com.sg WHEN Aisha Ashraf Khawaja couldn’t find a writing desk to fit into a small space in the study of
        PHOTOS BY YEN MENG JIIN EXCEPT FOR PHOTOS OF FURNITURE  -  1,111 words
    • GADGETS
      • Article, Illustration
        Lock icon e-Shop till you drop
        676 14  -  Window-shop on the go with snazzy new app browsers and shopping tools that help you nail the best bargains super-fast. By Christopher Lim comPare app for iPhone/iPod touch; Free from iTunes Store Any iPhone owner who likes to buy stuff online from the United States should
        676 words
    • SPORT
      • Article, Illustration
        Lock icon Ready to capture that moment of magic
        608 15  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor WHAT I love most about football is the sport’s ability to produce countless moments of magic that make you want to hit the replay button over and over again on your DVD player. In
        AFP  -  608 words
      • Article
        Lock icon All Blacks to win against underdogs Les Bleus
        658 15  -  touch down with jason de la pena TOMORROW, the curtain comes down on the seventh Rugby World Cup with the final taking place in Auckland between the very same two teams that took part in the first competition back in 1987. Hosts
        658 words
    • BT CORPORATE GOLF LEAGUE 2011
      • Article, Illustration
        Lock icon League of extraordinary golfers
        1682 16 / 17  -  Last year’s BT Corporate League winners OAAG snatched the trophy again this year from some of the finest players on the fairways, pipping formidable contenders Team SunMoon to the post. By Justine Moss LIKE the inaugural Business Times Corporate Golf League’s final round last year where
        FAIRWAY PHOTOS: YEN MENG JIIN  -  1,682 words
    • MOTORING
      • Article, Illustration
        Lock icon 8 to the fore
        697 18 / 19  -  The flagship Audi S8 4.0 TFSI combines sporty luxury with enhanced performance. By Samuel Ee samuelee@sph.com.sg THE high-performance saloon is not a novel concept but Audi says its new S8 is unique for the ability to produce the requisite power expected with equally high fuel efficiency.
        697 words
      • Article
        Lock icon Sum of its parts
        385 18 / 19  -  Samuel Ee looks under the hood of Audi’s flagship model to find out what makes the S8 tick Samuel Ee samuelee@sph.com.sg THE new Audi S8 is the first of three generations of this high-powered sedan to employ forced induction. Under the hood, the S8 has a
        385 words
      • Article, Illustration
        Lock icon TOP GEAR
        807 20  -  The Ferrari 458 Spider offers an exceptional driving experience. By KL Tay btnews@sph.com.sg LOOKING at a Ferrari 458 Italia (Berlinetta) or Spider (convertible), it is hard not to believe that Earth has been visited by futuristic spacecraft piloted by extraterrestrial beings hoping to establish contact. That design house
        807 words
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      26 4 :*AT>i CLASSIFIED Bring in the professionals to beautify your home! To find out more, turn to CLASS 114 in CATS Classified in The Straits Times now.
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      772 6 wine&dine with BTWeekend Mandarin Court Mandarin Orchard, Singapore Level 35, 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,
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