The Business Times, 21 January 2012
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2012-01-21
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The Business Times
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Title Section14 2012-01-21 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| JANUARY 21-22, 2012 S$1.00| MICA (P) 121/08/201114 words
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Article, Illustration651 2012-01-21 1 Emilyn Yap - They count on the single currency to sell more bags, shoes and frocks, particularly to Asians By Emilyn Yap emilyny@sph.com.sg Singapore THE fashion world is about to embrace a new trend, and it’s got nothing to do with paisley prints or exotic silks. AsBLOOMBERG - 651 words
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694 2012-01-21 1 Siow Li Sen - Affected will be millions of ATM cards, thousands of ATM machines and 60,000 Nets point-of-sale terminals By Siow Li Sen lisen@sph.com.sg Singapore BANKS here are scrambling to count the cost of boosting card payment security as the industry reluctantly agrees to switch694 words
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Page 1 Advertisements
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Advertisement204 2012-01-21 1 the business www. usinesstimes.com. THE RAFFLES CONVERSATION SYMANTEC CEO ENRIQUE SALEM 10-11 MOTORING The new five-door Audi A1 Sportback L18-19 CHINA ECONOMY Manufacturing activity weak CHINA’S factory activity likely fell for a third month in January, suggesting Beijing’s pro-growth policies will remain in place. 2 ELDERLY CARE Government to ramp204 words
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Advertisement6 2012-01-21 1 WEALTH Investment outlook for 2012 30-316 words
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TOP STORIES
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Article, Illustration61 2012-01-21 2 NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-9 Style L10-11 Weekend With L12 Clipper Race61 words
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747 2012-01-21 2 New export orders tick to a three-month high but fail to get back above the 50 level Reuters Beijing CHINA’S factory activity likely fell for a third successive month in January, suggesting Beijing’s pro-growth policies will remain in place despite early signs that the downwardReuters - 747 words
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MARKETS
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Article48 2012-01-21 2 us$ s$ US$ (S$ per US$) 1.274 (US$/S$ per 1.549 1.973 EURO(US$/S$/E) 1.297 1.652 Foreign currency per US$ S$ YEN 77.20 60.60 RM 3.105 2.437 HK$ 7.762 6.094 BAHT 31.52 24.74 RUPIAH 8,965 7,038 RENMINBI 6.327 4.967 INDIAN RUPEE 50.37 39.54 A$ 0.959 0.753 NZ$ 1.246 0.97848 words
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Article58 2012-01-21 2 GSTI 2,849.38 (+38.18) GSTI FUTURES 2,849.00 (+38.00) GSIMSCI 325.12 (+3.99) GSIMSCI FUTURES 324.90 (+3.80) Friday Change KL COMP 1,522.66 +5.85 NIKKEI 225 8,766.36 +126.68 HANG SENG 20,110.37 +167.42 SET 1,058.66 -0.28 JAKARTA 3,986.51 -14.56 MANILA 4,747.90 +47.53 KOSPI 1,949.89 +34.92 SHENZHEN B 595.92 +9.54 MUMBAI IND 16,739.01 +95.27 11am58 words
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Article30 2012-01-21 2 SiNGsAI>OP.t U8 MAI AfSIA 6 55 HONG KONG 5j00 INDONESIA ***** TAIWAN 5036 JAPAN 1.475 KOREA 9L53 BRITAIN 050 US Ji CANADA 500 SWITZERLAND 050 INDIA 1*75 Source:30 words
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Article, Illustration527 2012-01-21 3 Chuang Peck Ming - Gan Kim Yong says the outreach of home-based healthcare services will be at least doubled By Chuang Peck Ming peckming@sph.com.sg Singapore IN the race against a rapidly ageing population, the government will be pushing for a big and faster ramp-up of elderly careFILE PHOTO - 527 words
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Article, Illustration681 2012-01-21 4 Ven Sreenivasan - It handles record passengers last year, last month and on a single day; aircraft movements also touch new levels Reports by Ven Sreenivasan ven@sph.com.sg Singapore SINGAPORE Changi Airport broke new records in traffic numbers last year, thanks to buoyant travel demand in theREUTERS FILE PHOTO - 681 words
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322 2012-01-21 4 CHANGI Airport has emerged as one of the region’s if not Asia’s key low-cost carrier (LCC) hubs. Last year, LCCs carried 26.3 per cent more passengers through Changi, while passenger movements on full service airlines grew 6.2 per cent, albeit from322 words
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Article, Illustration705 2012-01-21 6 Anna Teo - Manu-services represent a new approach for firms and customers to do business By Anna Teo anna@sph.com.sg Singapore THE typical sectoral split of many economies into manufacturing and services, may before long become a bit off, with the rise of manu-services said to have replaced high-techROLLS ROYCE - 705 words
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Article, Illustration386 2012-01-21 6 Kelly Tay - By Kelly Tay kellytay@sph.com.sg Singapore A 30-MINUTE meeting between the Singapore Exchange (SGX) and the Securities Investors Association (Singapore), or Sias, came and went yesterday, leaving investors none the wiser about the fate of suspended S-chip China Sky Chemical Fibre, as386 words
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305 2012-01-21 7 Bryan Koh - By Bryan Koh bryankoh@sph.com.sg Singapore A GLOBAL survey of 3,775 professional accountants, including 1,414 senior executives, has revealed fears of a renewed global economic downturn in 2012. The latest quarterly survey, which is also the largest, was jointly published by the305 words
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Article, Illustration533 2012-01-21 7 Ven Sreenivasan - European Aviation Safety Agency order will mean a third of global fleet are affected By Ven Sreenivasan ven@sph.com.sg Singapore SINGAPORE Airlines is inspecting its fleet of A380 jumbos after receiving an airworthiness directive (AD) following the discovery of wing cracks in more of theREUTERS - 533 words
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Article, Illustration896 2012-01-21 8 But corporate watchers are sceptical and question its turnaround strategy NYT New York IN filing for bankruptcy protection, Eastman Kodak executives say they are seeking to follow the path of US corporations that have reinvented themselves after a court-supervised reorganisation, like UnitedNYT; REUTERS - 896 words
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400 2012-01-21 8 Bloomberg San Francisco BUOYANT business demand appears to be girding the largest technology companies against Europe’s debt crisis and a consumer spending slump, as Microsoft Corp, Intel Corp and International Business Machines Corp issued results on Thursday that topped analysts’ estimates. Microsoft’sBloomberg - 400 words
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Page 3 Advertisements
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Advertisement1335 2012-01-21 3 AXA WORLD FUNDS (In short “AXA WF”) Investment Company with Variable Capital Registered Office: 49, avenue J-F Kennedy, L-1855 Luxembourg Register of Commerce Luxembourg B ***** The Shareholders of AXA WORLD FUNDS have been convened to the Extraordinary General Meeting held on January 2nd, 2012 at 2.00 p.m. at 15,1,335 words
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Page 5 Advertisements
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Advertisement2086 2012-01-21 5 the business timesweek nd www. usinesstimes.com. g| 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 rates DBS Bank, OCBC Bank and UOB will offer a mere 0.05 per cent come October, even as HSBC and Stanchart dish2,086 words
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Page 7 Advertisements
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Advertisement212 2012-01-21 7 IN THE MATTER OF THE COMPANIES ACT CHAPTER 50 AND IN THE MATTER OF SALA MARITIME PRIVATE LIMITED (In Member’s Voluntary Liquidation) (Company Reg. No. *****5784C) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 that the Final Meeting of the212 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK | January 16-20, 2012
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53 2012-01-21 9 BOUTIQUE fund managers are bracing themselves for higher costs and other challenges as regulators look set to bring in new rules tightening supervision of the industry. Some have hired experienced help to meet competency requirements; others are mulling over the risk controls to53 words
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51 2012-01-21 9 GLOBAL market fears have returned following a brief respite. Once again, the eurozone is at the centre of uncertainty after talks with Greece broke down on Friday and Standard Poor’s downgraded France and Austria, leaving only four triple A nations in the currency51 words
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53 2012-01-21 9 IT is seen by most as a significant step in the right direction, but even as the government reiterated core principles behind the reform of political salaries and addressed key concerns in Parliament yesterday, it acknowledged that the issue is, ultimately,53 words
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80 2012-01-21 9 THE introduction of the additional buyer’s stamp duty (ABSD) last month sent developers’ private home sales in December to their lowest level in two years, latest official statistics showed, even though the figure for the full year was still a record. The80 words
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51 2012-01-21 9 THE Singapore Exchange has executed a dramatic U-turn, backing away from its unprecedented court application against China Sky Chemical Fibre. SGX said on Monday that it had withdrawn its originating summons filed with the High Court on Jan 6 in its51 words
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53 2012-01-21 9 SINGAPORE has to be pragmatic about paying for talent, and not take a chance on the belief that the spirit of public service will always prevail, said Prime Minister Lee Hsien Loong yesterday. He also said that attracting good ministers will be53 words
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54 2012-01-21 9 BANKS here differ widely in how they tackle ATM security, but there are signs that the Monetary Authority of Singapore (MAS) may be pushing the industry to enhance protection for customers. Banks told BT that they decide on and implement54 words
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71 2012-01-21 9 OCBC’s incoming chief executive will have his work cut out for him as he takes over the reins amid an economic slowdown and stiffer competition. In addition, Samuel Tsien the current global head of the Global Corporate Bank who will step into David71 words
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Article, Illustration30 2012-01-21 9 Singapore has to be pragmatic about paying for talent, and not take a chance on the belief that the spirit of public service will always prevail FILE PHOTOFILE PHOTO - 30 words
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51 2012-01-21 9 THE global economy “has entered a very difficult phase”, the World Bank declared on Wednesday while slashing its growth forecasts in the light of slumping world trade growth and plunging global capital flows. The trigger, of course, was the eurozone51 words
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51 2012-01-21 9 WHAT a difference a year makes. Amid greater economic uncertainty, small and medium-sized enter- prises here are less bullish about their business prospects in the first half of the year compared to a year ago, and expect to cut back on expansion and capital51 words
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84 2012-01-21 9 THE Singapore High Court has ordered Marina Bay Sands to declare whether it has CCTV video footage that a patron claims could prove that the casino violated local gaming laws when it allegedly offered unsolicited credit to him. Assistant registrar Paul Chan Wei84 words
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Article85 2012-01-21 9 NEXT WEEK Jan 23-27, 2012 US DATA Jan 25 MBA mortgage index Dec pending home sales Crude inventories Jan FOMC rate decision SINGAPORE DATA Jan 25 Dec consumer price index Jan 26 Dec industrial production Jan 27 Dec producer and international trade price indices Q4 real estate information EVENTS Jan85 words
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Page 9 Miscellaneous
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Miscellaneous321 2012-01-21 9 CRYPTIC CROSSWORD Across 1 Supports a lot of practical details (5,5) 6 Expression of incredulity disgraced cricketer (2,2) 9 Very old times seeing unfortunate Troy perish (10) 10 Unproductive old film director (4) 12 Strongly built den about right (6) 13 Most severe saint with ‘important’ name (8) 15 Consequence321 words
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Miscellaneous15 2012-01-21 9 SATURDAY with Ludwig ‘No, it’s not someone else it’s the Euro that’s keeping me awake15 words
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THE RAFFLES CONVERSATION
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Article, Illustration2440 2012-01-21 10/11 Amit Roy Choudhury - Symantec CEO Enrique Salem feels managing information is about knowing what needs protection and what can be shared. By Amit Roy Choudhury amit@sph.com.sg THE US National Football League(NFL) is one of those places where size does matter. It’s a sports league where even a highly athletic six-footer couldYEN MENG JIIN - 2,440 words
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COMPANIES
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Article, Illustration809 2012-01-21 12 Kalpana Rashiwala - Portfolio committed occupancy dips to 95.8% at end-201 1 down from 99.3% a year earlier By Kalpana Rashiwala kalpana@sph.com.sg Singapore CAPITACOMMERCIAL Trust (CCT) has posted declines in its Q4 and full-year distribution per unit (DPU) figures. The trust, which makes semiannual distribution payouts,ST FILE PHOTO - 809 words
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Article, Illustration340 2012-01-21 12 Kelly Tay - By Kelly Tay kellytay@sph.com.sg Singapore SINGAPORE Post Ltd yesterday announced that it is acquiring Hong Kong-based Novation Solutions Ltd for US$9.8 million (approximately S$12.7 million), through its wholly owned subsidiary, DataPost Pte Ltd. DataPost’s purchase of Secured Financial Services Ltd’s entire 100 per cent340 words
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Article, Illustration406 2012-01-21 13 Kelly Tay - Banks face 5 -6% negative earnings surprises Credit Suisse report says there is high probability net interest margins and credit costs will go up this year By Kelly Tay kellytay@sph.com.sg Singapore A CREDIT Suisse research report released yesterday says that there is a “high probability” that net interest margins (NIMs)ST FILE PHOTO - 406 words
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Article, Illustration434 2012-01-21 13 Jamie Lee - By Jamie Lee leejamie@sph.com.sg Singapore GUOCOLAND posted a 67 per cent drop in net profit for the second quarter, dragged down by a slide in quarterly revenue. The property developer said net profit for the three months ended Dec 31 stood at $12.9 million, down434 words
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Article, Illustration976 2012-01-21 14 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent R Sivanithy THANKS to encouragement from Western markets, it has been a good week for contrarians who took the plunge, provided of course they didn’t stray too far from the Straits Times Index component stocks. Over the976 words
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540 2012-01-21 14 Bloomberg Singapore SINGAPORE may displace Hong Kong as Asia’s hub for synthetic exchange-traded funds due to regulatory changes, Boston-based financial research and consulting firm Celent said in a report. The market in Singapore for the investments, which produce returns throughBloomberg - 540 words
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327 2012-01-21 15 Jamie Lee - By Jamie Lee leejamie@sph.com.sg Singapore SINGAPORE Exchange (SGX) is working with Singapore’s first futures brokerage on a professional traders development programme, SGX said yesterday. SGX said it would work with futures broker Ong First Tradition to set up a new trading arcade327 words
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469 2012-01-21 15 Kenneth Lim - Market may pick up in H2 if eurozone fears ease and investors seek higher returns By Kenneth Lim kenlim@sph.com.sg Singapore ASIA Pacific high-yield corporate debt issuance will remain slow in the first half of 2012 as defaults creep higher, but469 words
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224 2012-01-21 15 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg Singapore SINGAPORE Technologies Engineering clinched $350 million of contracts in the last quarter of 2011, including a light-rail communications project in a third Taiwan city, the company said yesterday. The contracts are not expected to have any material impact224 words
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Page 13 Advertisements
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Advertisement19 2012-01-21 13 SINGAPORE'S HOTTEST MORNING SHOW ■PviAKc) O'f v n s V ANDRE HOEDENI THE MARRIED MEN WEEKDAYS SAM TD lOAM19 words
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Page 15 Advertisements
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Advertisement22 2012-01-21 15 Choose from Prime Stock 1 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices WAT3 NOTICES CLA/FEB1 1/g22 words
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Advertisement57 2012-01-21 15 Check out these positions and other exciting career opportunities in CATS Recruit Executive Appointments in The Straits Times now! Giant has vacancies in Retail Management FedEx Express is recruiting a Senior/ Technical Advisor National Library Board has positions open for Library Services Frasers Centrepoint is hiring an Advertising Promotions Manager57 words
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FROM THE DESK OF
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Article, Illustration1029 2012-01-21 16 Wong Lup Wai - While the economic future looks brighter than ever for Asia, there is also rising concern for quality of life issues like safety, access to healthcare and sustainability Wong Lup Wai Chairman and chief executive officer, Philips Electronics Singapore THE economic weight of Asia in the1,029 words
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SINGAPORE
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395 2012-01-21 17 Ronnie Lim - Industry says negative demand growth mirrors govt’s estimates of 4.9% slide in Q4 GDP By Ronnie Lim ronnie@sph.com.sg POWER demand in Singapore fell 2.2 per cent in the fourth quarter of last year compared with the same period a year earlier,395 words
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920 2012-01-21 17 Grace Leong - It explains why prosecution guidelines can’t be made public By Grace Leong gleong@sph.com.sg THE Attorney-General Chambers yesterday explained why guidelines for prosecutorial decisions are not made public, in a bid to address issues raised after a recent appellate court decision concerning two drug920 words
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336 2012-01-21 17 SINGAPORE Press Holdings (SPH) is hoping to cement its track record of owning Paragon and The Clementi Mall and establish a foothold in the retail mall sector in the long term. “We aim to build on the track record of our property portfolio and336 words
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286 2012-01-21 18 Felda Chay - They need not remove or make good any renovations/alterations from their premises By Felda Chay felda@sph.com.sg THE new master tenant of Turf City has stepped in to help resolve tenancy issues brewing between the existing sub-tenants and the current master tenant, Singapore286 words
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238 2012-01-21 18 PARKWAY Pantai Ltd has gone ahead to change the name of its newest hospital to Mount Elizabeth Novena Hospital, despite earlier protests from a group of doctors practising at Mount Elizabeth Medical Centre near Orchard Road. Formerly known as Parkway Novena Hospital,238 words
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Article269 2012-01-21 18 Mindy Tan - It says ABSD does not apply to DC, defines residential properties By Mindy Tan tanmindy@sph.com.sg IN its revised e-Tax Guide on the government’s latest property cooling measure, the Inland Revenue Authority of Singapore (IRAS) has stated that the additional buyer’s stamp duty (ABSD) is not269 words
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Article, Illustration286 2012-01-21 18 MINISTER of State for Trade and Industry and National Development, Lee Yi Shyan, launched a competition yesterday calling for ideas from residents and industries on growing vegetables in HDB flats. Titled “Cool Ideas on Growing Vegetables At Home”, the competition was launched286 words
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Page 18 Advertisements
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Advertisement54 2012-01-21 18 9 i s m-m k itussimm m I* Hbi NDS TOZ «MHN±S« WHAT'S YOUR BODY AGE m GET YOUR FEBRUARY ISSUE NOW! WIN 31 SETS OF THEFACESHOP HAMPER WORTH $129.80 EACH MORE DETAILS ON PAGE 209 SUBSCRIBE AT NUYOU.COM.SG AND RECEIVE A JYUNKA ULTRA DEFENSE UV PROTECTION VEIL* WORTH $14154 words
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WORLD
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298 2012-01-21 19 Reuters London CHINA’S US$410 billion sovereign wealth fund said it had bought a minority stake in Thames Water, the water network that serves London, marking the fund’s first acquisition in Britain. China Investment Corporation (CIC) said yesterday it had bought an 8.68Reuters - 298 words
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Article, Illustration318 2012-01-21 19 Japan will consider how to respond to the IMF’s plans after hearing details, he adds Reuters Tokyo JAPAN’S Finance Minister Jun Azumi urged the International Monetary Fund (IMF) to seek US cooperation for its plan to raise funds to containReuters - 318 words
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443 2012-01-21 19 But they expect quake reconstruction to boost economy later this year Reuters Tokyo JAPANESE manufacturers remained pessimistic about business conditions for the second straight month in January as Europe’s debt crisis and slowing global growth cloud the outlook, a Reuters poll showedReuters - 443 words
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430 2012-01-21 20 Failure to fix the problem will overshadow recovery in US and Asia, says minister Bloomberg Stockholm THE worst is yet to come for Europe’s debt crisis and the region’s failure thus far to fix its woes now threatens to overshadow growth inBloomberg - 430 words
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Article, Illustration708 2012-01-21 20 EU official to meet British minister to discuss issues Reuters LONDON MICHEL Barnier, the official in charge of regulating finance in the European Union, meets George Osborne on Monday in what are likely to be tough talks over rules theReuters; PHOTOS: AP, REUTERS - 708 words
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230 2012-01-21 20 Bloomberg Tokyo OLYMPUS Corp was allowed to keep its stock market listing after an accounting fraud that cut the company’s market value by about US$4 billion. The camera maker was fined 10 million yen (S$165,476) and told to submit annual reports on effortsBloomberg - 230 words
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Article, Illustration625 2012-01-21 21 Founder, three Megaupload employees had been arrested in NZ on US accusations AP Wellington WITH 150 million registered users, about 50 million hits daily and endorsements from music superstars, Megaupload.com was among the world’s biggest file-sharing sites. Big enough, according to a USAP; PHOTO: AP - 625 words
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233 2012-01-21 21 AFP New Delhi INDIA’S Supreme Court rejected yesterday a US$2.5 billion tax bill slapped on British phone giant Vodafone by India over its purchase of a local operator in a ruling closely watched by foreign investors. “Indian tax authorities had no jurisdiction toAFP - 233 words
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315 2012-01-21 21 Reuters Geneva ECONOMIC growth, jobs and protectionism are the top three worries at the start of 2012, according to a “Call to Action” published by 11 leaders of international organisations yesterday in a bid to kick-start debate at next week’s Davos Forum.Reuters - 315 words
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Article, Illustration605 2012-01-21 22 Latter likely to incur real loss of 65-70% of the loans that they have given to Athens Reuters Athens GREECE was closing in on an initial deal with private bond holders yesterday that would prevent it from tumbling into a chaotic default but loseReuters; BLOOMBERG - 605 words
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391 2012-01-21 22 Bloomberg Brussels THREE candidates will contend for a seat on the European Central Bank’s board, setting the stage for a potential clash between northern and southern nations in the euro region. Luxembourg yesterday nominated its central bank governor, Yves Mersch, for theBloomberg - 391 words
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353 2012-01-21 22 LATEST US DATA Bloomberg Washington SALES of previously owned US homes rose for a third month in December to the highest level since January 2011, a sign that the housing market ended last year with momentum. Purchases increased 5 per centBloomberg - 353 words
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Page 19 Advertisements
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Advertisement12 2012-01-21 19 o www.omy.sg u kl m^iesoriiiiie om v^lS 'I* V m t9$ Mimm12 words
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Article8118 2012-01-21 23 Transaction date: Jan 20 Transaction date: Jan 20 Transaction date: Jan 20 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 19.5 11.6 8Telecom 15.5 10.6 14.5 7.8 3.9 3.2 74.2 9.5 4 A-Sonic 4.78,118 words
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Article1732 2012-01-21 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 16 unch 248 17 15.2 15.4 16 4.7 3.4 6.2 28.6 5.5 2.5 t AA Grp 3.3 2.6 3.5 15.71,732 words
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Article186 2012-01-21 26 MAIN CAT TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 4 5 0 0 0 7 4 5 Manufacturing 59 41 43 8 2 9 67 43 52 Commerce 28 16 15 6 3 1 34 19 16 Tpt/Stor/Comms 18 16 7186 words
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Article836 2012-01-21 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jan 16 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Pacific HC Hldgs 19-Jan-12 Chong Lai Leong W *Buy 417 na ***** 5.83 ***** 5.93 CMZ Hldgs836 words
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Article121 2012-01-21 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 33,523 33,523 90,687 90,687 Manufacturing 291,831 30,972 322,803 271,222 584 271,805 Commerce 269,834 7,321 277,155 296,574 813 297,388 Tpt/Stor/Comms 178,748 22,886 201,634 283,758 3,274 287,032 Finance 21,103 21,103 194,689 194,689 Construction 48,365 3,949 52,314 13,650121 words
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Article80 2012-01-21 27 Jan 19 COCOA (£/tonne) Close Prev High/Low Mar 12 1537 1503 1540/1504 May 12 1548 1517 1551/1516 Jul 12 1563 1532 1564/1531 Sep 12 1575 1547 1576/1546 COFFEE(US$/tonne) Close Prev High/Low Jan 12 1863 1834 1846/1846 Mar 12 1878 1849 1880/1844 May 12 1904 1878 1905/1874 Jul 12 193080 words
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Article71 2012-01-21 27 Jan 20 GOLD(US$/oz) Jan 19 Jan 19 Hong Kong 1674.50 1674.50 Hong Kong Jan 19 Jan 18 London 1655.66 1652.39 1656.43 1653.36 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 39.30 38.63 Source: UOB PLATINUM/ Lon (US$/oz) Jan 19 Close Previous PM Fix 1530.00 1507.00 AM Fix 1537.0071 words
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Article60 2012-01-21 27 Jan 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 12 3180.0 3163.0 3181.0 3161.0 158 3553 Mar 12 3185.0 3162.0 3185.0 3153.0 2561 ***** Apr 12 3176.0 3165.0 3183.0 3147.0 6559 ***** May 12 3174.0 3152.060 words
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Article78 2012-01-21 27 Jan 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 26-Apr-12 0.34 1-Year BY*****W 01-Nov-12 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01-Jul-13 102.8 5-Year N*****0W 1.125 01-Apr-16 102.44 Day's 10-Year NX*****X 2.25078 words
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Article154 2012-01-21 27 Jan 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3272 1.3290 1.0422 1.0432 Canadian dollar 1.2573 1.2583 0.9873 0.9877 Euro 1.6512 1.6521 1.2966 1.2968 NZ dollar 1.0217 1.0226 0.8023 0.8027 Sterling pound 1.9729 1.9739 1.5492 1.5494154 words
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Article, Illustration114 2012-01-21 27 As on 19 January 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT FEB2012 1670.30 1649.50 1654.20 277 CURRENCY AUD-USD FUT MAR2012 1.0364 1.0305 1.0334 4160 EUR-USD FUT MAR2012 1.2941 1.2844 1.2942 ***** USD-JPY FUT MAR2012 77.21 76.69 77.16 3884 BASE METAL114 words
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Article103 2012-01-21 27 Jan 19 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 12 1197.00 1183.50 1198.00 1181.50 May 12 1204.25 1192.25 1205.00 1189.50 Jul 12 1212.50 1201.25 1213.00 1198.00 Aug 12 1210.00 1199.25 1210.00 1206.50 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Mar 12 51.06 50.40 51.07 50.45103 words
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Article75 2012-01-21 27 Jan 19 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 110.81 -0.10 WTI (Near Mth) 100.32 -0.45 Dubai (1-Mth F) 109.21 -0.58 Tapis blend 117.75 -0.33 Minas 115.95 -3.33 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.61 1.05 Jet Kerosene 125.55 -0.75 US$/barrel Opec Oil Basket Price75 words
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Article118 2012-01-21 27 Jan 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.354 1.29 Can dollar 1.28 1.231 Euro 1.68 1.616 Sterling pound 2.007 1.93 NZ dollar 1.048 0.999 US dollar 1.291 1.242 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article69 2012-01-21 27 Jan 19 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2196.75 2168.00 3 months 2232.00 2205.00 Copper, Grade A (US$/tonne) Cash 8355.00 8226.75 3 months 8365.00 8239.00 Lead (US$/tonne) Cash 2156.50 2111.25 3 months 2183.00 2139.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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373 2012-01-21 27 In local curr In S$ In US$ dy yr dy yr dy yr Jan 19 Index Change Change Change Change Change Change World Preliminary 865.2 0.7 4.3 0.5 2.5 0.9 4.3 EAFE Preliminary 708.3 1.0 3.8 1.0 1.9 1.4 3.7 Europe Preliminary 1071.3 1.2 4.4373 words
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PERSPECTIVE
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Article, Illustration1067 2012-01-21 28 / 29 Jan Verplancke - Software innovation eOps opens up a whole new way to outsource work to individual groups of virtual employees. By Jan Verplancke By Jan Verplancke ~The writer is CIO and Group Head of Technology and Operations at Standard Chartered IN the tribal village of Masinagudi inBLOOMBERG - 1,067 words
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Article866 2012-01-21 28 / 29 Benedicta Marzinotto - By Benedicta Marzinotto ~The writer is a research fellow at Bruegel and Lecturer in Political Economy at the University of Udine Project Syndicate THROUGHOUT the crisis period, the European Central Bank’s behaviour has been conditioned by the tension between what it can do and whatProject Syndicate - 866 words
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Page 30 / 31 Advertisements
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Advertisement13 2012-01-21 30 / 31 Brokers who wish to send in their reports can email us at btnews@sph.com.sg13 words
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Wealth
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WEALTH INVESTING
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Article, Illustration914 2012-01-21 32 Genevieve Cua - Sentiment has picked up and fund managers are more optimistic, reflecting an uptick in in risk appetite Genevieve Cua gen@sph.com.sg Personal Finance Editor THE consensus view among analysts remains one of caution for 2012, but some are beginning to express more positive views particularlyREUTERS - 914 words
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Article, Illustration974 2012-01-21 33 Teh Hooi Ling - Buying high dividend paying stocks trading at deep discounts to their asset values can be a viable strategy SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder IN a chat with Benny Ong, founding director of Life Planning974 words
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Article, Illustration1164 2012-01-21 30 / 31 Shane Oliver - WEALTH INSIGHTS Shane Oliver AMP Capital Investors ~The writer is head of Investment Strategy and chief economist at AMP Capital Investors THE latest rating downgrades to various countries in Europe and its bailout fund itself are a reminder the European crisis is continuing. However, theBLOOMBERG PHOTO - 1,164 words
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BROKERS’ TAKE
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Article256 2012-01-21 30 / 31 Sell DBS Group Research Jan 20 Close: S$0.235 WHILE First Ship Lease Trust’s (FSL Trust) operating cash flows in Q4 2011 were largely in line with estimates, the key surprise was a 90 per cent cut in distribution per unit (DPU) to 0.10 US cent. The256 words
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Article278 2012-01-21 30 / 31 Hold OCBC Investment Research Jan 20 Close: S$1.00 ASCOTT Residence Trust (ART) announced FY2011 distributable income of S$96.2 million, which was up 67 per cent year on year (y-o-y). This was mostly in line with our full-year forecast of S$99.1 million. Full-year distribution per unit came in278 words
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Article276 2012-01-21 30 / 31 Conrad Tan - Compiled by Conrad Tan Underperform CIMB Research Jan 20 Close: S$1.145 Q4 AND full-year 2011 distribution per unit is broadly in line with our forecast and consensus. We fine-tune our DPU estimates but keep our target price of S$1.04. Maintain “underperform”. While Q4 was decent, we remain negative276 words
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WEALTH REAL ESTATE
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Article1099 2012-01-21 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN DEC 21 AND DEC 27,2011 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 23/12/2011 99 980 2388 2437 One Shenton Apt 21/12/2011 99 1130 25761,099 words
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Article, Illustration1030 2012-01-21 35 Kalpana Rashiwala - Surge in new supply at developer launches from earlier land sales sends buyers flocking to primary market By Kalpana Rashiwala kalpana@sph.com.sg Singapore THE percentage of private homes purchased in the primary market, that is, from developers, increased last year while conversely the proportion boughtFILE PHOTO - 1,030 words
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Page 36 Advertisements
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Advertisement103 2012-01-21 36 ■wr TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE UNIQUE ASYMMETRIC STYLING OF THE AUDEMARS PIQUET MILLENARY COLLECTION HAS TRANSFORMED THE WAY DESIGN ENGINEERS DEVELOP CALIBRES, THIS TRI-DIMENSIONAL MOVEMENT COMBINES PERFORMANCE AND CHRONOMETRY WITH HAUTE HOROLOGY MICRO-DETAILING. IN THE TRANSVERSAL BALANCE-BRIDGE, OPTIMUM SHOCKRESISTANCE IS COMBINED WITH THE ELEGANCE103 words
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Advertisement63 2012-01-21 1 LivingBTTHE BUSINESS TIMES WEEKEND JANUARY 21-22 2012 REACHING NEW PEAKS Three F&B players up their game with Michelin-starred chefs and haute cuisine in their portfolios L2-4 PHOTOS: ARTHUR LEE, YEN MENG JIIN DINING Malaysian food fare L6-9 GOLF World class Classic L17 WEEKEND WITH Afire with flamenco L12 STYLE Man63 words
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BT Living
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DINING
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Article, Illustration2663 2012-01-21 2/3 Debbie Yong - At a time when some restaurants are downsizing, going downmarket or simply shutting down, three F&B groups are padding up their ranks with Michelin-starred chefs and spawning new outlets. By Debbie Yong debyong@sph.com.sg Deliciae group THE Deliciae group burst onto the local culinary scene last year whenPHOTOS BY ARTHUR LEE - 2,663 words
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Article, Illustration733 2012-01-21 5 Debbie Yong - Three Michelin-starred chefs from Britain spent four days here to learn about local cuisine. By Debbie Yong debyong@sph.com.sg THEY came, they sniffed and slurped, and they went home inspired. Those, at least, were the aims of the most recent round of the Global Chef Exchange organised by733 words
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Article, Illustration1336 2012-01-21 6 / 7 Geoffrey Eu - There is less reason to go north of the border for Malaysian hawker food now that Resorts World Sentosa has opened Malaysian Food Street. BT Weekend also tells you where else you can go for Malaysian-style hawker cuisine By Geoffrey Eu btnews@sph.com.sg NEVER in the field ofYEN MENG JIIN; ARTHUR LEE; JOHN HENG - 1,336 words
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Article, Illustration864 2012-01-21 8 / 9 Cheah Ui-Hoon - By Cheah Ui-Hoon uihoon@sph.com.sg TO most foodies and even non-foodies, Penang is synonymous with good hawker fare. Even hawkers from other Malaysian states concede this point, hence the penchant to slap on the word “Penang” on their stalls. In Singapore, only a handful of restaurateurs peddle Penang food,864 words
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Article952 2012-01-21 8 / 9 wine&dinewith BTWeekend Chatterbox Level 5, Mandarin Orchard Singapore, 333 Orchard Road.Z6831 6288 Mandarin Orchard Singapore Home to the signature Mandarin Chicken Rice, Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Most recently, Chatterbox opened its new premises on Level 5 of the952 words
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STYLE
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Article, Illustration1620 2012-01-21 10 / 11 Melissa Lwee-Ramsay - The menswear market has evolved both sartorially and in commercial importance, as evidenced by the strong showing at last week’s Pitti Uomo, the bi-annual men’s fashion trade fair. By Melissa Lwee-Ramsay mellwee@sph.com.sg EVERY January, the relative tranquillity of Florence as compared to its frenzied chic sister city Milan1,620 words
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WEEKEND WITH
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Article, Illustration1169 2012-01-21 12 Natalie Koh - For Dr Daphne Huang, flirting with flamenco sparked a lifelong passion for the art form. By Natalie Koh WEEKEND WITH DR DAPHNE HUANG MEDICAL DOCTOR IN NURSING HOMES, LIM HWANG ASSOCIATES By Natalie Koh Taking up a hobby isn’t much of a big deal. In this day1,169 words
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KEPPEL CLIPPER ROUND THE WORLD
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Article, Illustration938 2012-01-21 13 Vincent Wee - The boats are now heading to Batam before arriving at Marina at Keppel Bay next Saturday. By Vincent Wee btnews@sph.com.sg THE end stages of Race 7 of the Clipper 2011-12 Round the World Yacht Race are proving to be a bit of an anti-cli-max asonEDITION - 938 words
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GADGETS
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Article, Illustration648 2012-01-21 14 Christopher Lim - Gun for big-screen fun on your small screen with three souped-up options to the prosaic DVD player. By Christopher Lim By Christopher Lim limchris@sph.com.sg AC Ryan Veolo $329 MOVIE players that play digital mov- ie files instead of plastic discs have been around for years, but they’ve been648 words
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HEALTH
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Article, Illustration576 2012-01-21 15 Walking and jogging for at least 30 minutes five times a week could prove beneficial NYT New York ALZHEIMER’S disease, with its inexorable loss of memory and self, understandably alarms most of us. This is especially so since, at the moment, there are noNYT; FILE PHOTO - 576 words
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SPORT
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Article, Illustration1252 2012-01-21 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor ONE is an Indian tennis legend, while the other is a seasoned television anchor. Clearly, Vijay Amritraj and Alan Wilkins love the game. They easily feed off each other’s energy and enthusiasm for tennis, as was evident when1,252 words
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GOLF
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Article, Illustration1150 2012-01-21 17 Justine Moss - The Laguna National Golf Country Club’s World Classic course mirrors the legendary courses that created the very foundations of great golf. By Justine Moss By Justine Moss btnews@sph.com.sg EVERY so often a golf architect will come along and craft a course that challenges golfers of every level aLAGUNA NATIONAL GOLF & COUNTRY CLUB WORLD CLASSIC - 1,150 words
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MOTORING
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Article, Illustration617 2012-01-21 18 / 19 Samuel Ee - The new five-door Audi A1 Sportback is targeted at young urban families. By Samuel Ee samuelee@sph.com.sg TWO more doors and, when possible, two less cylinders. With this, Audi has made its A1 model more practical and more efficient. Eighteen months after the German premium carmaker617 words
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Article, Illustration402 2012-01-21 18 / 19 Samuel Ee - A WLAN hotspot in the A1 allows passengers to connect up to eight mobile devices. The newest and most revolutionary Audi connect function to be showcased in the A1 is Google Street View. This means a selected destination can appear on the navigation screen before402 words
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Article, Illustration702 2012-01-21 20 Samuel Ee - The Civic’s usual sportiness has been toned down and replaced by something more grown-up refinement. By Samuel Ee By Samuel Ee samuelee@sph.com.sg OVER eight generations and four decades, the Honda Civic has blended distinctive styling and sporty driving so well that it has become one of the most702 words
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Advertisement86 2012-01-21 13 Clipper Race at Keppel Bay Keppel celebrates the homecoming of Singapore and the international Clipper fleet into Marina at Keppel Bay on 28 January 2012. Marina at Keppel Bay 2 Keppel Bay Vista Singapore *****2 Tel: (65) 6303 8448 Email: enquiry@marinakeppelbay.com www.marinakeppelbay.com Presenting the best in urban and waterfront lifestyles,86 words
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Advertisement8 2012-01-21 13 THIS SERIES IS BROUGHT TO YOU BY www.marinakeppelbay.com8 words
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Advertisement107 2012-01-21 15 s 7 r-*TrV3 I r r j 3 hr rj vV^ «f2 r‘ r V IJ* mi I rf-5a We're giving away Star Cruises Holidays from January to March 2012, starting with a 3-Night Penang Phuket Krabi Cruise for 2 worth $1,400*. For your chance to win, simply upload your107 words
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Advertisement24 2012-01-21 17 WAT3 CLASSIFIED Beat the heat with new air-conditioners. To find out more, turn to CLASS 90 in CATS Classified in The Straits Times now.24 words
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