The Business Times, 13 August 2012
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2012-08-13
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The Business Times
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Title Section25 2012-08-13 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Monday, August 13, 201225 words
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Article, Illustration685 2012-08-13 1 TEH SHI NING - Finding could point to a possible contraction for Singapore economy in 2012 By TEH SHI NING [SINGAPORE] Business sentiment soured rapidly in the second quarter of the year, according to the BT–UniSIM Business Climate Survey, making for a much darker picture than that paintedSource: BT-UniSIM Business Climate Survey - 685 words
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MARKETS DIGEST
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Article57 2012-08-13 1 Weekly Change ST INDEX 3,054.20 +2.87 KL COMP 1,645.36 +10.32 NIKKEI 225 8,891.44 +336.33 HANG SENG 20,136.12 +470.02 SET INDEX 1,219.37 +21.84 JAKARTA COMP 4,141.56 +41.75 MANILA COMP 5,263.35 -22.56 SEOUL COMP 1,946.40 +97.7 SHENZHEN B 572.36 -5.55 MUMBAI IND 17,557.70 +359.80 DOW 13,207.95 +111.78 NASDAQ 3,020.86 +52.96 S&P57 words
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Article, Illustration18 2012-08-13 1 Source: Bloomberg SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.036 JAPAN 1.475 KOREASource: Bloomberg - 18 words
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Article49 2012-08-13 1 us$ s$ US$ (S$ per US$) 1.246 (US$/S$ per 1.559 1.943 EURO (US$/S$/€) 1.228 1.531 Foreign currency per US$ S$ YEN 78.50 63.00 RM 3.117 2.500 HK$ 7.758 6.224 BAHT 31.49 25.26 RUPIAH 9,478 7,604 RENMINBI 6.358 5.101 INDIAN RUPEE 55.37 44.42 A$ 0.951 0.763 NZ$ 1.235 0.99149 words
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Article, Illustration526 2012-08-13 1 VEN SREENIVASAN - Point-to-point travel strategy pays off for MAS-owned airline By VEN SREENIVASAN [SINGAPORE] Malaysia Air-lines-owned Firefly will focus on dominating its niche short haul point-to-point business and tourism routes, says its chief. “By being singularly focused on what we do, we achieved 20526 words
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Page 1 Advertisements
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Advertisement117 2012-08-13 1 BizIT Panasonic unit using S’pore as growth hub PAGE 27 DINING OUT More traditional than molecular PAGE 21 COMMENTARY Don’t confuse STI with the market PAGE 2 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance stories, go to btinvest.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838.117 words
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Advertisement8 2012-08-13 1 VIEWS FROM THE TOP People-friendly growth PAGES 8-98 words
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TOP STORIES
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Article, Illustration672 2012-08-13 2 R SIVANITHY - On Aug 6, the index closed at a 12-month high but, at the same time, 9 in 10 stocks were down COMMENTARY R SIVANITHY Senior Correspondent SEVEN days ago on Aug 6, the Straits Times Index (STI) closed at a one-year high of 3,071.82.672 words
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318 2012-08-13 2 JAMIE LEE - By JAMIE LEE [SINGAPORE] The government is looking to improve its process of procurement, Deputy Prime Minister Tharman Shanmugaratnam said in a Channel NewsAsia (CNA) report yesterday. His comments come after an internal audit found discrepancies in the way the National Parks Board318 words
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Article629 2012-08-13 2 S’pore business sentiment deteriorates in Q2 BUSINESS sentiment soured rapidly in the second quarter of the year, according to the BT-UniSIM Business Climate Survey making for a much darker picture than that painted by official business expectations surveys conducted around the same time. It is a finding that629 words
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Article, Illustration866 2012-08-13 2 ROB CURRAN - Traders now seek out black lining in positive reports WALL STREET INSIGHT By ROB CURRAN SOME of the main threats to the bull market this week are reports showing that factory output, the job market or retail sales grew in recent weeks. Huh?866 words
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404 2012-08-13 2 Bloomberg [BRUSSELS] European Central Bank bond purchases won’t solve Spain and Italy’s difficulties maintaining investor confidence, ECB governing council member Luc Coene said in an interview to Belgian newspapers De Tijd and L ’Echo. Bond yields have been rising because financial marketsBloomberg - 404 words
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1178 2012-08-13 3 ANNA LEE - But bidders must beware pitfalls; detractors compare such sites to gambling By ANNA LEE [SINGAPORE] A penny saved is a penny earned. And the emergence of online penny auction sites may offer more bang for the buck for tech-savvy Internet users. The “penny” in1,178 words
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Article, Illustration586 2012-08-13 3 AFP [LONDON] Jamaica stormed to a world record-breaking 4x100m relay victory last Saturday, a perfect send-off to a track-and-field programme at the Olympic Stadium dominated by Usain Bolt, who became the first athlete in history to successfully defend his Olympic 100m and 200m titles earlierAFP; REUTERS - 586 words
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Page 3 Advertisements
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Advertisement420 2012-08-13 3 PEOPLE STRATEGIES FOR ASIA-Harnessing Change, Managing Complexity BOOKNOW! EXTENDED EARLY BIRD RATES Insights for tomorrow’s business challenges The need for organisations to focus on leadership and human capital strategies is more vital than ever in these uncertain economic times. The Singapore Human Capital Summit on 19-20 September provides unique Pan-Asian420 words
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Advertisement439 2012-08-13 3 Value Investing is the key to billionaire investor Warren Buffett’s success. Join Mary Buffett at the Asian Value Investing Conference 2012 as she shares Warren Buffett's stock picking strategies using the time-tested method of Value Investing. Saturday 8 September 2012 8.00am to 5.30pm Marina Bay Sands Convention Centre, Level 4,439 words
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SINGAPORE MARKETS
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Article, Illustration673 2012-08-13 4 R SIVANITHY - Direction dependent on Europe, US data STOCKS R SIVANITHY Senior Correspondent THE performance of equity markets over the past couple of months has hinged almost entirely on the extent of intervention by the European Central Bank and the US Federal Reserve, the former by673 words
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578 2012-08-13 4 COMMODITIES AFP [LONDON] Oil and metals prices mostly rose last week as traders reacted to mixed Chinese economic data and positive figures out the United States, while maize and soya futures jumped on drought conditions. Oil: Crude oil prices hit three-month highs before easingAFP - 578 words
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636 2012-08-13 4 CURRENCIES Bloomberg [NEW YORK] The euro declined versus the dollar for the first time in three weeks as signs of slowing global economic growth added to concern that Europe’s sovereign-debt crisis is worsening, damping appetite for riskier assets. The yen rose against theBloomberg - 636 words
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Article1525 2012-08-13 4 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 2 10.00 12.70 1.42 1.27 Amtek Engineering Ltd 1.67 1.67 6 0.07 7.33 0.87 0.61 ARA Asset Mgt 1.38 1.381,525 words
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Article66 2012-08-13 4 Aug 10 VALUE CLOSE BT OB/OS 144.00 +59.00 BT CADI -*****.00 +69.00 BT 10-day MA -*****.00 +14.00 FTSE ST Mid Cap 703.45 +2.55 FTSE ST Small Cap 460.01 +3.60 FTSE ST All Share 737.85 +1.09 FTSE ST China Top 202.46 +0.93 FTSE ST China 222.91 +1.64 FTSE66 words
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Article59 2012-08-13 4 VOLUME Golden Agri 342,166,000 IPC Corp 321,578,000 GSH Corp 209,135,000 Noble Grp 175,991,000 HLH Grp 175,634,000 Genting SP 172,237,000 SingXpress 138,026,000 MDR 100,836,000 TT Intl 100,215,000 SingTel 97,227,000 VALUE($) F&N 535,496,700 SingTel 333,018,155 Golden Agri 242,927,042 Genting SP 223,277,535 DBS Grp 197,170,647 Noble Grp 197,079,916 Keppel Corp59 words
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Article112 2012-08-13 4 BY CENTS CLOSE UP DBXT Nifty 10US$ 9826 477.4 4.1 DBXT MSKorea 10US$ 5726 390.1 5.8 DBXT USDIGInfl 5US$ ***** 373.9 1.1 IS DJ US Tech 7415 292.9 3.3 DBXT MSEurope 10US$ 4313 269.2 5.3 JSH 3467 218.1 5.3 DBXT E50 10US$ 3517 213.1 5.1 GLD 10US$ ***** 170.8112 words
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Article112 2012-08-13 4 BY CENTS CLOSE DOWN DBXT iBoxxUSTr 5US$ ***** -259.3 -1.0 DBXT S&P Short 10US$ 3637 -86.0 -1.9 Great Eastern 1359 -25.0 -1.8 Isetan 460 -23.0 -4.8 Star Hub 363 -21.0 -5.5 OmegaNav 15.5 -19.5 -55.7 SingTel 336 -18.0 -5.1 SingTel 10 336 -17.0 -4.8 SIA Engg 406 -14.0 -3.3112 words
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COMPANY NEWS
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475 2012-08-13 5 JAMIE LEE - Company hit by loss from sale of its 37% interest in Pine Agritech By JAMIE LEE PEOPLE’S Food Holdings sank into the red for the second quarter compared to the same period a year ago, hit mainly by a substantial disposal of475 words
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Article1631 2012-08-13 5 Payment Ex Books Pay Ann (cts) date close date date AEM Hldgs aw 0.350 01-Aug 03-Aug 17-Aug 14-May AIMS AMP Cap Ind Reit ag 2.500 30-Jul 01-Aug 18-Sep 19-Jul Ascendas REIT ES ad 0.030 23-Jul 25-Jul 28-Aug 18-Jul Ascendas REIT ES ao 1.770 23-Jul 25-Jul 28-Aug 18-Jul Ascott1,631 words
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Article, Illustration16 2012-08-13 5 Note: Net profit refers to profit attributable to equity holders Compiled by BTCompiled by BT - 16 words
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Article, Illustration15 2012-08-13 5 Note: Net profit refers to profit attributable to equity holders Compiled by BTCompiled by BT - 15 words
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Article313 2012-08-13 5 Aug 10 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Bangkok Bank Public Co. Ltd 6 Bank Julius Baer Co. Ltd 5 Banco Bilbao Vizcaya Bank of China Limited 5.5 Bank of Communications 5.5 6 Bank Julius Baer Co. Ltd313 words
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Article197 2012-08-13 5 COMPANY MEETING PLACE DATE TIME WeiYe Hldgs E 17 Kian Teck Road 13-Aug 3.00pm Xinren Aluminium E Level 4 Bras Basah Room Raffles City Conv Centre 80 Bras Basah Road 14-Aug 10.00am Global Prem Hotels E 168 changi Road #05-01 (Attic Level) Fragrance Building 17-Aug 9.00am Hanwell Hldgs197 words
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Article, Illustration1813 2012-08-13 6 MANO SABNANI - Yoma Strategic’s major shareholder Serge Pun tells MANO SABNANI about the company’s origins and its recipe for success COMPANY INSIGHT MANO SABNANI Mano Sabnani, a veteran writer, editor, and investment adviser, wrote this piece based on a case study he completed recently on 36 successful local listed companies1,813 words
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Article, Illustration1555 2012-08-13 6 ROBERT HALILI - INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd DIRECTOR activity was low for the fourth straight week, based on filings on the Singapore Exchange during the holiday-shortened week of Aug 6 to 10. A total of four companies recorded five purchases1,555 words
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Page 5 Advertisements
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Advertisement479 2012-08-13 5 I 4 A Win V' s SIX THINKING HATS® CoRT® THINKING SKILLS THINK NOTE WRITE™ JUNIOR LATERAL THINKING" "Dr de Bono's innovative thinking methods have been tried and tested by many pupils and professionals, and they do seem to help people to be more creative and original. I saw the479 words
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Advertisement154 2012-08-13 5 n/»Vt n ■vi l* ittf Savour the joy of having time on your side and ENJOY GREAT VALUE-ADD BENEFITS THIS SUMMER. STAY LONGER COMPLIMENTARY 3RD NIGHT* Linger a little longer in our refurbished interiors soothing, sleek and streamlined with the latest technology. Also enjoy the SUMMER VALUEADD** benefits with any154 words
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SINGAPORE NEWS
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883 2012-08-13 7 Directors interests and proxy issues ASK QUESTION: Our company secretary drafted one resolution pertaining to the sale and purchase of assets of the company and another pertaining to the lease of a factory from a statutory body. As directors, we have to sign the resolutions. The resolutions mentioned that “none883 words
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331 2012-08-13 7 White Paper to be put out at year-end, says DPM Teo THE Marriage and Parenthood package will soon be reviewed by the government, said Deputy Prime Minister Teo Chee Hean in a Channel NewsAsia (CNA) report yesterday. This comes as the government is331 words
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Page 7 Advertisements
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Advertisement20 2012-08-13 7 www.omy.sg m -j IS ©lifestyle.omy.sg N v/ Mg'S? IK' m. More at yzone.omy.sg Download FREE QR Code Reader, e.g. BeeTagg20 words
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Advertisement277 2012-08-13 7 HAVE a pressing question about a corporate-law-related issue that your company is facing? Lawyers from Stamford Law will provide their expert advice and answers to your queries on a weekly basis. All you need to do is send us an e-mail with your query at btnews@sph.com.sg and include particulars such277 words
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VIEWS FROM THE TOP
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Article, Illustration3187 2012-08-13 8 THIS WEEK’S TOPIC: How can an organisation’s promotion of sustainable practices support its business strategy? Can corporate responsibility combine with business strategy to catalyse positive change in the community? Kwek Leng Joo Managing Director City Developments Limited BUSINESS is interconnected with society and the environment. For close to3,187 words
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Page 8 Advertisements
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Advertisement91 2012-08-13 8 IG MARKETS See the markets from a new perspective *Largest retail CFD provider by revenue [excluding FX). Source: Published financial statements. As at November Access global and local financial markets through CFDs. Take advantage of rising or falling prices on shares, forex, indices and commodities. Control your risk with Guaranteed91 words
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Page 9 Advertisements
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Advertisement363 2012-08-13 9 IBM, the IBM logo, ibm.com, Smarter Planet and the planet icon are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at www.ibm.com/legal/copytrade.shtml. International363 words
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BT-CITIBANK YOUNG INVESTORS' FORUM
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Article, Illustration1038 2012-08-13 10 ERIC TACHIBANA - It is a due diligence that shows the entrepreneur is serious about his business and that he knows his stuff, says ERIC TACHIBANA ERIC TACHIBANA ONE of the most common questions young entrepreneurs starting out on their first venture ask is: “Why should I1,038 words
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Article, Illustration1192 2012-08-13 10 KENNETH FOO - Tin Peishan tells KENNETH FOO she’s afraid of losing oppportunites if she doesn’t grab them STARTING YOUNG KENNETH FOO MOST people dream of starting their own business; for Tin Peishan, however, one venture wasn’t enough. The 28-year-old has delved into the wilds of businessARTHUR LEE - 1,192 words
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Page 10 Advertisements
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Advertisement157 2012-08-13 10 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to157 words
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MALAYSIA
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Article, Illustration643 2012-08-13 11 PAULINE NG - Just look at how Olympian Lee Chong Wei has managed to rouse and unite the nation MALAYSIA INSIGHT PAULINE NG KL Correspondent FOR a loser, the adulation heaped on Lee Chong Wei was amazing. Then again, few consider Malaysia’s top badminton643 words
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Article1673 2012-08-13 11 VOL Aug 10 RM +/-(‘000) A M Realty 0.49 unch 10 VOL Advance Synerg 0.16 unch 206 Adventa Bhd 1.82 -0.01 112 Ae Multi Hldgs 0.21 -0.01 175 Affin Holdings 3.56 -0.03 1211 Ahmad Zaki Res 0.69 unch 112 Airasia Bhd 3.67 -0.01 3334 Alliance Finan 4.30 unch1,673 words
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Page 11 Advertisements
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Advertisement3035 2012-08-13 11 XMH HOLDINGS LTD. Company No,: *****0562M (the "Company") (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of XMH HOLDINGS LTD. (the “Company”) will be held at Warren Golf Country Club, 81 Choa Chu Kang Way, Singapore *****3 on Tuesday, 28 August3,035 words
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GREATER CHINA/INDIA
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Article, Illustration599 2012-08-13 12 YONNEX LI - Eurozone crisis takes toll; rebound in H2 demand, domestic, overseas not in sight By YONNEX LI EJ Insight [HONG KONG] China looks set to miss its 10 per cent trade growth target this year, as no cure is in sight forEJ Insight; AP - 599 words
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649 2012-08-13 12 Aiming for a bigger presence in economy, diversification Reuters [LONDON] Sovereign wealth funds are increasingly interested in buying China’s domestic bonds to get a bigger foot in the world’s second largest economy, benefit from good yields and diversify their exposure to moreReuters - 649 words
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598 2012-08-13 12 Reuters [NEW DELHI] The return of a pro-market reformer to India’s finance ministry has cheered investors and contributed to a market rally, but Palaniappan Chidambaram will need both political deftness and some luck to tackle the problems dragging the economy down. Faced withReuters - 598 words
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319 2012-08-13 12 Reuters [NEW DELHI] India’s Prime Minister Manmohan Singh expects a better performance from the economy this fiscal year even as private economists cut growth forecasts for Asia’s third largest economy, citing a drought and policy gridlock. Several research organisations including Moody’s Analytics have predictedReuters - 319 words
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248 2012-08-13 12 Bloomberg [MUMBAI] Reliance Communications Ltd, India’s third-largest mobile-phone company, has reported first-quarter profit that missed analysts’ estimates as rising competition and finance cost squeezed margins. Net income rose 3 per cent to 1.62 billion rupees (S$36.4 million) in the three months ended JuneBloomberg - 248 words
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Page 12 Advertisements
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Advertisement22 2012-08-13 12 m wMm SINGAPORE'S HOTTesr HITS 5k r, *§0>f///y C .'v ■•'•fg*? ,Jy HEAR oMetx&moirs HOTTEST HITS ON HOT FM 91.3 iff -> •-.w<22 words
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Advertisement29 2012-08-13 12 THE STRAITS TIMES SUBSCRIPTION PLEASURES Subscribe Now And Get This Or Other 0T0 Gifts! OTO e-Cuddle Neck Shoulder Massager u.p.$180 Find out more at www.STsubscribe.com or call 6388 383829 words
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ECONOMY WATCH
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Article, Illustration661 2012-08-13 13 Bankers cite slowing recovery, eurozone impact, uncertainty about tax laws Reuters [CHARLOTTE, North Carolina] Loan growth at banks in the United States slowed in July, the US Federal Reserve said, snapping a 10-month streak of acceleration. Bankers that spoke to Reuters recentlyReuters; REUTERS - 661 words
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Article389 2012-08-13 13 Govt minister asked if Swiss banks urged transfer ahead of tax deal Reuters [ZURICH] A deal between Switzerland and Germany that would tax German assets in Swiss accounts has not yet led to a mass exodus of German funds, the Swiss finance minister saidReuters - 389 words
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Article, Illustration644 2012-08-13 13 Reuters [NEW YORK] Teenager Fanta Bagayoko personifies US retailers’ worst nightmare this back-to-school season. “I feel like the economy is messed up,” the 18-year-old said while shopping at a Walmart store in New Jersey for herself and her niece. “Moneywise, IReuters; REUTERS - 644 words
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756 2012-08-13 13 NYT [ROME] Micaela Pallini stood amid the heady perfume of anise-scented sambuca in the Roman distillery run by her family for five generations and pointed to a gleaming row of bottles rolling off a packaging line. She recently had a chance toNYT - 756 words
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Article18 2012-08-13 13 Branchen Stars R1C-A 06/08/2012 146,97 EUR 1 db X-MACRO Trading Index Fund I4D 02/08/2012 95,41 GBP18 words
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Page 13 Advertisements
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Advertisement42 2012-08-13 13 GROUP TOUR SPECIALIST Retreats Meetings Team Building Incentive Tours East West Malaysia Hong Kong Indonesia Thailand Vietnam Cambodia Macau China We are looking forward to get a challenging assignment from you Luxury Tours Travel Pte Ltd mice@luxury.com.sg S www.luxury.com.sg Tel: 6309 085042 words
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Advertisement85 2012-08-13 13 U.S. LICENSING EXPANDING IN SINGAPORE AND MALAYSIA Educational programs focused on creativity, innovation entrepreneurship for corporate executives, schools and children ages 5-15. Seeking Master Licensees Single Center Licensees Licensee US$28,000 (Single Center) Master Partner US$50,000 (Single Area) Presentation and meetings will be held in Singapore on: 25 th August (Saturday),85 words
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WORLD
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Article, Illustration891 2012-08-13 14 It accedes to NY regulator’s demand; to ensure that it complies with laws Bloomberg [NEW YORK] Standard Chartered plc has agreed to a New York Department of Financial Services demand that the bank hire an outside monitor to ensure compliance with US anti-money launderingBloomberg; BLOOMBERG - 891 words
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Article, Illustration505 2012-08-13 14 Move may result in major changes to firm’s cash plan Bloomberg [SAN FRANCISCO] Yahoo! Inc chief executive officer Marissa Mayer has embarked on a strategy review that may result in a reversal of plans to restructure operations and return billions of dollars inBloomberg - 505 words
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408 2012-08-13 14 Reuters [LONDON] The incoming chairman of Barclays, David Walker, is looking for a “polymath” to fill the bank’s vacant CEO post and wants to retain its investment division, he said in a newspaper interview released on Saturday. Barclays shares rose on Friday afterReuters - 408 words
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Article, Illustration584 2012-08-13 14 Bloomberg [LONDON] Former telecommunications executive Sol Trujillo is trying to drum up interest in a buyout of Deutsche Telekom’s T-Mobile USA unit and has so far been unsuccessful in pitching a deal to private equity firms including Blackstone Group and KKR Co, according to peopleBloomberg; BLOOMBERG FILE PHOTO - 584 words
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401 2012-08-13 14 Bloomberg [SEATTLE] Microsoft Corp will probably hang on to its stock in social-network operator Facebook Inc after a ban on share sales expires this week, a person with knowledge of the company’s plans said. Microsoft views the stake as aBloomberg - 401 words
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701 2012-08-13 17 In the past five years, businesses have started realising it’s not cheap to produce in China anymore CNN CHINA has established itself as the world’s workshop but is that about to change? In 2010, Nike began moving its shoe manufacturing operationsCNN - 701 words
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Article, Illustration607 2012-08-13 18 Electronics giant faces worrying cash crunch as it tries to re-tool its business AFP [TOKYO] Japan’s Sharp Corp is fast running out of options to repair its disintegrating balance sheet, analysts say, raising fears about its viability as investors bolt for theAFP; REUTERS - 607 words
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340 2012-08-13 18 Bloomberg [CANBERRA] The Australian national broadband network’s state-owned operator said it can change its A$37.9 billion (S$49.8 billion) project should Prime Minister Julia Gillard’s Labor government lose power. “It’s always possible to change direction, it’s possible to stop things as theyBloomberg - 340 words
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432 2012-08-13 18 ANTHONY ROWLEY - Singapore, Malaysia among countries in region to be linked By ANTHONY ROWLEY in Tokyo JAPAN’S NTT Communications Corporation will launch operation of the Asia Submarine-cable Express connecting major regional cities, including Singapore and Malaysia, from August 20, the company announced. The Asia Submarine-ca-ble432 words
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Article, Illustration751 2012-08-13 19 Running outdoors soars in popularity as gym memberships fall in debt-ridden EU Reuters [LONDON] As budgets tighten and working lives get more stressful, running is experiencing a boom as people hit the parks and streets of their cities to escape from it all– Reuters; STOCK.XCHNG - 751 words
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590 2012-08-13 19 Bloomberg [TOKYO] Japanese lawmakers are pushing to ease restrictions on non-bank lending which they say limits credit to small businesses in a stagnant economy They are referring to a law passed in 2006 which clamps down on predatory lending after the numberBloomberg - 590 words
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Article, Illustration624 2012-08-13 19 Contrite institutions sweat it out as US, Europe mull redress Reuters [ZURICH] Swiss banks hoping to atone for decades of complicity in tax evasion may be left to sweat it out for months as the United States and Germany ponder theReuters - 624 words
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Article, Illustration427 2012-08-13 19 Reuters [NEW YORK] Billionaire investor George Soros had a lot to celebrate on Saturday evening: his 82nd birthday and the engagement to his much-younger girlfriend Tamiko Bolton. Mr Soros and Ms Bolton, who met in the spring of 2008, formally announced their engagementReuters; REUTERS - 427 words
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400 2012-08-13 19 AFP [VARZAQAN, Iran] Iran yesterday wrapped up its rescue operations in hundreds of villages flattened by twin earthquakes a day earlier in its north-west, as officials gave a toll of 227 dead and 1,380 injured in the disaster. “Search and rescue operationsAFP - 400 words
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Advertisement3593 2012-08-13 15 VOLUNTARY CONDITIONAL CASH OFFER fUOB TUT ±mm t UNITED OVERSEAS BANK LIMITED (Company Registration Number: *****0026Z) (Incorporated in the Republic of Singapore) for and on behalf of AHC PTE. LTD. (Company Registration Number: *****8364D) (Incorporated in the Republic of Singapore) to acquire all the issued and paid-up ordinary shares in3,593 words
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LONDON OLYMPICS 2012
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633 2012-08-13 16 Games may have only a small positive effect, and there are no additional visitors either AFP [LONDON] With the London Olympics set to wrap up later yesterday, analysts said Britain’s recession-hit economy was unlikely to have won a major boost from the GamesAFP - 633 words
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Article, Illustration727 2012-08-13 16 In boxing, Japan bags gold after 48 years and Cuba gets one after 8 years Reuters [LONDON] Stephen Kiprotich of Uganda broke away from two Kenyan rivals to win the men’s marathon near Buckingham Palace yesterday in front of vast crowds enjoying theReuters; AP - 727 words
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Advertisement1759 2012-08-13 16 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TAI ON LOONG COMPANY (PRIVATE) LIMITED (In Members’ Voluntary Liquidation) (Company Registration No. *****0246Z) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the1,759 words
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Advertisement406 2012-08-13 16 MSD VENTURES SINGAPORE PTE LTD COMPANY REGISTRATION NO. *****3161H (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY WAS DEEMED TO BE HELD AT 21 TUAS SOUTH AVENUE 6, SINGAPORE *****6 ON THE 10TH DAY OF AUGUST406 words
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Advertisement1545 2012-08-13 17 ESATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices ACE ACHIEVE INFOCOM LIMITED (Incorporated in Bermuda) (Registration No: *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of Ace Achieve Infocom Limited (the “Company”) will be held at Katong Room, Level 3, Grand Mercure1,545 words
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Advertisement1802 2012-08-13 17 SCORPIO EAST HOLDINGS LTD. Registration No. *****5164G (Incorporated in the Republic of Singapore) NOTICE OF EIGHTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Eighth Annual General Meeting of SCORPIO EAST HOLDINGS LTD. (the “Company”) will be held at 25 Tai Seng Avenue #01-01 Scorpio East Building Singapore *****41,802 words
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Advertisement245 2012-08-13 18 Jobs updated EVERY MINUTE A world of options at your fingertips. Sales Executive Sales Manager Sales Director Marketing Executive Marketing Manager Marketing Director Account Executive Account Manager Account Director Finance Executive Finance Manager Financial Controller Customer Service Executive Customer Service Manager Customer Service Director FIR Executive FIR Manager FIR Director245 words
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AVIATION/SHIPPING
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Article, Illustration505 2012-08-13 20 The airline’s net loss widened to 6.6b rupees in the quarter to June AFP [MUMBAI] Cash-strapped Kingfisher Airlines on Saturday said quarterly losses more than doubled from a year earlier, fuelling fresh doubts about the future of the private Indian carrier. Kingfisher’s net loss widenedAFP - 505 words
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287 2012-08-13 20 Bloomberg [LONDON] London’s Heathrow airport will operate a special terminal for 8,000 departing Olympians as the busiest day for Games travel brings 22 per cent more passengers than usual through Europe’s biggest hub. About 6,000 athletes will leave the airport today through a temporaryBloomberg - 287 words
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Article, Illustration701 2012-08-13 20 Pilots have reported occurrences of such incidents Bloomberg [WASHINGTON] A computer glitch caused a United Continental Holdings Inc flight to take off earlier this year about 9,000 kilograms heavier than pilots believed, prompting the carrier to add extra checks to ensure accurate weight calculations.Bloomberg; AFP - 701 words
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Article260 2012-08-13 20 SGX '000 Aug 10 S$ +/-Vol CH Offshore 0.43 -0.01 151 Chuan Hup Hldg 0.24 unch 201 Cosco Corp 0.99 0.01 2218 s$ Ezra Hldgs 1.00 unch 3381 First Ship Lea 0.15 unch 305 Freight Links 0.07 unch 2465 Grand Banks 0.23 0.01 66 Jaya Hold Ltd 0.53260 words
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307 2012-08-13 20 Bloomberg [SEATTLE] Boeing Co named John Wojick as the planemaker’s new sales chief, filling a post vacant for more than a month after a management shakeup in June. A 32-year veteran, Mr Wojick began his career as an aerospace engineer and ledBloomberg - 307 words
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324 2012-08-13 20 Reuters [DAR ES SALAAM, Tanzania] Tanzania said a shipping agent based in Dubai had reflagged 36 Iranian oil tankers with the Tanzanian flag without the country’s knowledge and approval. Tanzania said it was now in the process of deregistering the vessels after anReuters - 324 words
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3276 2012-08-13 25 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination Destination STXPO3,276 words
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Page 20 Miscellaneous
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Miscellaneous301 2012-08-13 20 CRYPTIC CROSSWORD Across 1 Evidence of steps taken to pay for pictures (10) 6 Investor closing theatre early (4) 9 Pole dancer’s last couple put on taxi (5) 10 A quiet tip following crook’s first source of money (9) 12 Rants in front of HGV, amazed (13) 14 Runs in301 words
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DINING OUT
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Article, Illustration701 2012-08-13 21 Debbie Yong - By Debbie Yong NEW RESTAURANT 81 Duxton Berjaya Singapore Hotel 81 Duxton Road Tel: 6225 4381 IT is always heartening to hear that a new restaurant wants to work with our budding local farmers to advocate the farm-to-dining concept in Singapore. Even more701 words
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Article, Illustration886 2012-08-13 21 JAIME EE - Sample elBulli alumni chef Tolosa’s home-style cooking, says JAIME EE JAIME EE NEW RESTAURANT Catalunya The Fullerton Pavilion 82 Collyer Quay Singapore *****7 Tel: 6534-0188 NOW that the most anticipated Spanish restaurant in Singapore has opened its doors, the next question to be886 words
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Page 21 Advertisements
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Advertisement11 2012-08-13 21 In Conjunction With Produced By Supported By Held In Award Partner11 words
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SINGAPORE STOCKS
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Article3242 2012-08-13 22 Week ended: Aug 10 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div GrYld 132 92.5 AIMSAMPIReit 127 -3.5 1289 131 126 126.5 127 6.6 12.23,242 words
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Article278 2012-08-13 23 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 1.8 unch 1212 1.9 1.8 1.8 1.9 23.8 Vol Week Last Quote 3iv Gr Yld Net278 words
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Article117 2012-08-13 23 Stock name Close Change CapMallsAsia 1.690 +0.010 CapitaLand 2.990 -0.070 CapitaMall 1.990 -0.005 CityDev 11.920 +0.070 ComfortDelGro 1.645 +0.010 DBS Grp 14.700 -0.050 F&N 8.570 +0.080 GLP 2.330 Genting SP 1.280 +0.005 Golden Agri 0.695 -0.005 Stock name Close Change HK Land 6.170 +0.050 JMH 54.250117 words
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Article2226 2012-08-13 23 Transaction date: Aug 10 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.40 unch 0 Aeon Stores 22.80 0.80 27 Angang Steel 4.54 -0.03 ***** Anhui Conch 21.55 -0.10 ***** Anhuiexpresswa 3.52 0.04 655 Asia Satellite 22.10 -0.40 2 Asm Pacific 88.30 -2.70 945 Bank Of E Asia 28.652,226 words
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Article203 2012-08-13 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 41.5 25.5 Genting HK US$ US33.5 unch ***** 35 33 33 33.5 2205.8 10.5 6.9 OGL Resources A$ A6.9 2.5 8.9 1 220 168 TanChongInt HK208cd203 words
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Article186 2012-08-13 23 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 6 3 0 0 0 8 6 3 Manufacturing 72 72 42 18 11 7 90 83 49 Commerce 32 27 17 8 6 2 40 33 19 Tpt/Stor/Comms 13 27 3186 words
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Article1085 2012-08-13 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 114.4 ABF SG Bond ETF 120 -0.1 65 122 120 118.3 123 547.8 126.8 122.2 CIMB APAC Div 100S$D 126.8 127 127.8 103 95.8 CIMB1,085 words
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Article123 2012-08-13 23 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 84,057 84,057 308,127 308,127 Manufacturing 888,172 166,808 1,054,980 1,276,049 4,423 1,280,472 Commerce 853,632 18,797 872,429 571,486 1,834 573,320 Tpt/Stor/Comms 356,187 61,975 418,162 651,145 18,268 669,413 Finance 138,437 10,743 149,180 540,230 3,776 544,006 Construction 381,871 27,522123 words
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Advertisement26 2012-08-13 23 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES26 words
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FINANCE & COMMODITIES
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Article644 2012-08-13 24 Aug 10 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8931.92 8954.85 8857.23 Sep12 8970.00 8990.00 8850.00 8880.00 *****7 *****4 Dec12 8815.00 8815.00 8810.00 8815.00 119 9964 MSCI TAIWAN INDEX FUTURES SPOT 263.67 264.20 262.41 Aug12 263.80 264.40 262.60 263.70 ***** *****0 Sep12 262.90644 words
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373 2012-08-13 24 In local curr In S$ In US$ dy yr dy yr dy yr Aug 10 Index Change Change Change Change Change Change World Preliminary 898.8 -0.3 8.3 -0.1 3.5 -0.2 7.8 EAFE Preliminary 722.3 -0.5 5.9 -0.2 0.2 -0.2 4.4 Europe Preliminary 1095.2 -0.3 6.7373 words
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Article, Illustration122 2012-08-13 24 As on 10 August 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT OCT2012 541.15 534.95 541.50 717 INDIA GOLD (E-GOLD) FUT DEC2012 537.60 537.10 547.85 50 CURRENCY EUR-USD FUT SEP2012 1.2319 1.2248 1.2299 914 BASE METAL COPPER FUT SEP2012122 words
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Article107 2012-08-13 24 Aug 10 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 12 1709.50 1694.50 1738.50 1694.50 Sep 12 1673.25 1654.75 1699.75 1646.75 Nov 12 1643.75 1631.25 1668.00 1621.00 Jan 13 1635.50 1616.75 1654.50 1607.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 12 53.60107 words
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Article70 2012-08-13 24 CRUDE OIL PRODUCTS Aug 9 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 111.53 0.13 WTI (Near Mth) 93.49 0.17 Dubai (1-Mth F) 107.56 1.33 Tapis blend 116.09 1.27 Minas 116.94 1.27 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.39 unch Jet Kerosene 127.45 unch US$/barrel OpecOil Basket70 words
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Article22 2012-08-13 24 Aug 10 S$ Bid Offer 1-month 1.2464 1.2465 2-months 1.2463 1.2465 3-months 1.2462 1.2463 6-months 1.2451 1.2453 Source: OCBC22 words
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Article65 2012-08-13 24 Aug 10 Aug Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1841.25 1861.50 3 months 1881.00 1900.00 Copper, Grade A(US$/tonne) Cash 7483.75 7530.00 3 months 7490.00 7534.00 Lead(US$/tonne) Cash 1889.00 1913.75 3 months 1892.00 1921.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.50 *****.00 3 months65 words
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Article80 2012-08-13 24 Aug 10 COCOA (£/tonne) Close Prev High/Low Sep 12 1650 1666 1679/1645 Dec 12 1650 1667 1678/1645 Mar 13 1628 1642 1653/1623 May 13 1630 1639 1650/1622 COFFEE(US$/tonne) Close Prev High/Low Sep 12 2167 2166 2182/2161 Nov 12 2168 2168 2180/2162 Jan 13 2149 2150 2158/2142 Mar 13 214080 words
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1165 2012-08-13 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 456 6.75 21 Conv Ratio Exer Baker Technology Ltd W*****6 1 0.2 144 1 32 6 31.00 3 Prem Best World Intl Ltd W*****5 0.61,165 words
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Article470 2012-08-13 24 Aug 10 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.045 6.688 0.857 8.161 58.246 99.699 0.826 11.884 3.278 1.299 99.046 44.066 1.311 8.574 1.029 31.526 33.126 0.675 1.052 Canada 0.957 6.401470 words
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Article59 2012-08-13 24 Aug 10 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 0.***** 0.***** SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates 1 yr59 words
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Article134 2012-08-13 24 Aug 10 GOLD(US$/oz) Aug 10 Aug 09 Hong Kong 1617.00 1622.30 Aug 09 Aug 09 Aug 10 London 1614.33 1620.94 1615.23 1622.16 Source: Thomson Reuters CAST BAR Aug 10 (S$) Selling Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 155 65 5gm 440 323 10gm 787134 words
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Article90 2012-08-13 24 Aug 10 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 08-Nov-12 0.24 6-Month BS*****S 07-Feb-13 0.24 1-Year BY*****T 02-May-13 0.24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.08 5-Year N*****0Z 2.375 01-Apr-17 108.9790 words
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Article57 2012-08-13 24 Aug 10 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 2750.0 2817.0 2750.0 2750.0 1 1524 Sep 12 2825.0 2827.0 2843.0 2800.0 1327 ***** Oct 12 2861.0 2865.0 2885.0 2839.0 ***** ***** Nov 12 2869.0 2884.057 words
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Article156 2012-08-13 24 Aug 10 Against US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3108 1.3116 1.0517 1.0522 Canadian dollar 1.2546 1.2550 1.0068 1.0065 Euro 1.5302 1.5310 1.2277 1.2282 NZ dollar 1.0088 1.0095 0.8094 0.8099 Sterling pound 1.9429 1.9434156 words
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Article121 2012-08-13 24 As at 9am Aug 10 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.347 1.283 Can dollar 1.285 1.224 Euro 1.566 1.492 Sterling pound 1.982 1.906 NZ dollar 1.038 0.989 US dollar 1.263 1.215 Local dollars to 100 units of foreign121 words
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Article160 2012-08-13 24 Aug 10 $S Offer Bid 0vernight 0.05 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.05 0.85 12160 words
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Advertisement59 2012-08-13 25 Experienced sH s p maintenanc services wanted. Can they find your services Here in the Shipping Times? TO ADVERTISE, CALI IOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times I FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here59 words
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Advertisement18 2012-08-13 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times18 words
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Advertisement194 2012-08-13 26 TO ADVERTISE IN The Business times Shipping times CALL JOE WONG FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 Announce Your Corporate Developments Come publicise your Corporate Developments, Corporate Image, Company Anniversaries, Award Wins194 words
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BizIT
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Article, Illustration804 2012-08-13 27 AMIT ROY CHOUDHURY - PSCAP leads company’s thrust into new Asia-Pac areas, reports AMIT ROY CHOUDHURY reportsAMIT AMIT ROY CHOUDHURY JAPANESE giant Panasonic, as part of its restructuring, has increased the focus on its business-to-business (B2B) and business-to-government (B2G) sectors. Singapore will play an important role in804 words
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379 2012-08-13 27 Move part of new CEO’s strategic review, says source Reuters [TORONTO] BlackBerry maker Research In Motion is looking to sell cloud services provider NewBay and some of the other minor assets it recently acquired, as part of a strategic review process, according toReuters - 379 words
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975 2012-08-13 28 CLEMENT TEO - Singapore’s XDel develops its own software to streamline business By CLEMENT TEO IF innovation and out-of-the-box thinking were the exclusive domains of multinational companies, local courier company XDel might not have been in business for almost 20 years. With an entrepreneur’s mindset and975 words
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Article787 2012-08-13 28 ANDY COCKS - <you say> By ANDY COCKS The writer is chief technology officer at Dimension Data Asia Pacific THERE will be few listed companies in the world that do not experience fraud. For big business, it would not be a case of “if” a company has787 words
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522 2012-08-13 28 VICTORIA HO - LearningHub acquires bandwidth boost to satisfy demand By VICTORIA HO As NTUC LearningHub grew out of its training wheels as a small start-up, it had to get serious about connectivity. The training course centre is one of the social enterprises under NTUC, corporatised522 words
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Article, Illustration315 2012-08-13 28 AFP [SAN FRANCISCO] Facebook will submit to external audits of how well it guards users’ data under the terms of a settlement finalised on Friday with US authorities concerned about privacy abuses. The deal with the Federal Trade Commission (FTC) was announced inAFP; AP - 315 words
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Article, Illustration597 2012-08-13 28 Bloomberg [SAN FRANCISCO] Hewlett-Pack-ard Co chief executive Meg Whitman, in her drive to boost profitability, took another step towards dismantling the computing empire former CEO Mark Hurd built with US$24.3 billion in acquisitions. The company is writing down the value of its enterpriseBloomberg; AP - 597 words
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Advertisement841 2012-08-13 27 SERIES Effective Leadership Customer Service Skills AUGUST 2012 FULL-DAY WORKSHOPS 27 Aug, 2012 (Mon) 23 Aug, 2012 (Thu) Unlock Your Personal Charisma The Unspoken Secret of the Successful SPH News Centre (9.30am to 6.00pm) Who should attend: What you will learn: How to connect with anyone (including difficult people) and841 words
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