The Business Times, 21 March 2011

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|2l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Monday, March 21,
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  • 720 1  -  But mass defections unlikely, as local banks give smaller basic/monthly pay By SIOW LI SEN [SINGAPORE] Local banks are said to be paying much higher bonuses than foreign banks as high as 30 months’ salary after posting record profits for 2010. Headhunters
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  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST INDEX 2,935.78 -107.71 KL COMP 1,503.89 +8.27 NIKKEI 225 9,206.75 -1,047.68 HANG SENG 22,300.23 -949.55 SET INDEX 1,003.29 -3.77 JAKARTA COMP 3,494.07 -48.16
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  • 956 1 Coalition forces will work at cutting off Gaddafi’s logistic lines next, says US admiral Reuters Bloomberg AP [TRIPOLI] US and allied forces have effectively established a no-fly zone over Libya and stopped an offensive by Muammar Gaddafi’s forces on rebels in the city
    Reuters; Bloomberg; AP; REUTERS  -  956 words
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  • TOP STORIES
    • 550 2 Local banks beat foreign peers on bonus payouts SINGAPORE banks are said to be paying much higher bonuses than foreign banks as high as 30 months’ salary after posting record profits for 2010. Headhunters say they have been getting a lot more calls from envious bankers working in
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    • 904 2  -  Death toll likely to top 15,000; damage and lost output around 5% of GDP By ANTHONY ROWLEY in Tokyo WITH Japan’s nuclear crisis showing some initial signs of stabilising, and rescue efforts giving way to dealing with a massive death toll from the
      AP  -  904 words
    • 701 2  -  Exec: Proceedings don’t fall into S’pore disclosure rules By LYNETTE KHOO [SINGAPORE] Even as shareholders debate the merits of a contentious exit offer for Financial One, legal proceedings involving the Taiwanese lender’s US subsidiary have gone largely unnoticed here. Grand Pacific,
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    • 771 4  -  It takes 15th spot in global ranking of 71, ahead of Germany, France and Italy By CHUANG PECK MING [SINGAPORE] Singapore is better known for the multinational corporations that dominate its economy, than for entrepreneurs. Especially compared with Asian economies such as Hong Kong
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    • 741 4 Countries jumping on bandwagon to draw tourist dollars AFP [DANANG] The gambler leans back comfortably in his chair at a card table inside Vietnam’s new Crown casino, waiting for his female companion to fetch more cash. At Asia’s casinos, the money just keeps on
      AFP  -  741 words
    • 1024 4  -  Modest pullback paving way for a rebound: analysts WALL STREET INSIGHT By in ANDREW MARKS in New York IT may sound strange to talk about declines ranging from 1.5 per cent (for the Dow) up to 2.6 per cent (for the Nasdaq)
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    • 49 2 This announcement appears as a matter of record only. S$500,000,000 3.14% Notes due 2021 issued under HDB’s S$7,000,000,000 MediumTerm Note Programme Joint Lead Managers DBS Bank Ltd. The Hongkong and Shanghai Banking Corporation Limited Oversea-Chinese Banking Corporation Limited March 2011 Standard Chartered Bank, Singapore Branch United Overseas Bank Limited
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  • Page 3 Advertisements
    • 125 3 SARASIN From Every Angle we Offer a Distinct Perspective on Wealth. We've spent some 170 years crafting distinctive private banking solutions. Bank Sarasin cherishes a balanced and sustainable approach not only in terms of growth, resources and investing, but to expertise that has been trusted for generations. Bank Sarasin offers
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    • 100 4 LUXURY TOURS TRAVEL PTE LTD The Leading Operator Established 1985 "Fullfilling your requirments with finesse" Our experienced team of planners takes charge right from the start. We offer you the best venues available, suggestions settings. These include transportation, meals, sightseeing tours tourist guides. Our services at a glance Incentive Conference
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    • 101 5 (Z)L£XU5 LFA SOME WILL SENSE /I HIGHER PRESENCE A FEW WILL DRIVE IT a 1 LFA r a; V/ There are fewer of them than there are billionaires in the world, They use the same resin technology chassis that rocket ships do. They have digital rev needles because analogue needles
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  • SINGAPORE MARKETS
    • 442 6 CURRENCIES Bloomberg [NEW YORK] The yen slumped against all of its major counterparts after the Group of Seven (G-7) nations intervened in for-eign-exchange markets on Friday, paring gains made earlier last week, as Japan copes with a deadly earthquake.
      Bloomberg  -  442 words
    • 504 6  -  COMMODITIES By ONG YILING The writer is an investment analyst at Phillip Futures COPPER surged to an all-time record high above US$10,000 a tonne in mid-February. As prices soared, the red metal has garnered much attention from investors, physical players, and even organised gangs
      504 words
    • 1498 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Properties 2.73 2.58 11 13.49 7.86 1.33 1.06 Amtek Engg 1.75 1.75 4 13.81 7.97 1.61 1.10 ARA Asset Mgt 1.75 2.25 4 9.28 19.19 1.82
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    • 4 6 WEEKLY
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    • 66 6 Mar 18 VALUE CLOSE BT OB/OS -868.00 -9.00 BT CADI -*****.00 +69.00 BT 10-day MA -*****.00 -87.00 FTSE ST Mid Cap 725.62 -0.29 FTSE ST Small Cap 522.03 +4.69 FTSE ST All Share 724.26 -1.02 FTSE ST China Top 257.09 +1.36 FTSE ST China 289.57 +3.88 FTSE
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    • 61 6 VOLUME HPH Trust US$ 616,785,000 Genting SP 449,066,000 Golden Agri 346,408,000 Dyna-Mac 245,931,000 Noble Grp 215,058,000 SingTel 144,149,000 GLP 139,715,000 BerlianLaju 136,602,000 *Genting HK US$ 135,903,000 GMG Global 127,490,000 VALUE($) Genting SP 851,427,709 HPH Trust US$ 753,344,873 Noble Grp 435,131,350 SingTel 415,915,372 DBS Grp 391,652,890 Wilmar 357,666,392
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    • 612 6  -  STOCKS R SIVANITHY Senior Correspondent FORMER US Secretary of Defense Donald Rumsfeld once spoke of “known knowns”, “known unknowns” and “unknown unknowns” when referring to Iraq’s supposed weapons of mass destruction. The phrases drew much criticism from linguists for their torturing of the English language; but
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    • 110 6 BY CENTS CLOSE UP GLD 10US$ ***** 843.6 4.8 DBXT USDIGInfl 5US$ ***** 616.8 2.0 DBXT AUDMM 5AU$ ***** 582.8 2.4 DBXT iBoxxUSTr 5US$ ***** 224.3 0.9 DBXT iBoxxKR 5US$ ***** 71.4 0.5 DBXT S&P Short 10US$ 4397 35.7 0.6 Kep Corp.ES.1103 1156 26.0 2.3 HsuFuChi 380 24.0 6.7
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    • 114 6 BY CENTS CLOSE DOWN DBXT MSJAP 10US$ 3705-633.3 -11.8 JMH 4360-418.0 -7.0 DBXT FTVietnam 10US$ 3184-327.5 -7.5 DBXT FTChina25 10US$ 3021-239.6 -5.9 JSH 2600-234.5 -6.6 IS S&P500 *****-219.2 -1.3 DBXT MSEurope 10US$ 4631-214.1 -3.5 IS DJ US Tech 6366-214.1 -2.6 DBXT DBLCI-OY 5US$ 3994-206.4 -3.9 Jardine C&C 3342-178.0 -5.1
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    • 5 6 WEEKLY
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    • 155 8 MAR 18 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE Advance SCT 0.045 0.0 3,735 Bio-Treat Tech 0.040 0.0 4,000 China Auto Electronics 0.115 0.0 11,500 China Titanium 0.005 0.0 625 JEL 0.025 0.0 6,250 Jiutian Chemical 0.060 0.0 5,400 Lereno Bio-Chem 0.005 0.0 1,250 MoyaDayen 0.060 0.0 7,500
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    • 170 8 MAR 18 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE The Hour Glass 0.970 1.6 8,730 Noble Group 2.030 0.5 21,961 Del Monte Pacific 0.435 0.0 4,350 Sino Techfibre 0.085 0.0 3,230 Rotary Engineering 0.895 -0.6 14,320 First Resources 1.250 -0.8 23,750 Food Empire 0.455 -1.1 5,005 Golden Agri-Resources
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    • 161 8 MAR 18 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE Straits Asia Resources 2.420 5.2 12,100 Ho Bee 1.370 0.0 15,070 Hupsteel 0.215 0.0 6,665 Pacific Andes 0.320 0.0 21,760 Sino Techfibre 0.085 0.0 3,230 CWT 1.160 -2.5 16,240 SC Global 1.340 -2.9 14,740 Li Heng 0.155 -3.1 3,100
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    • 172 8 MAR 18 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE Guocoleisure 0.735 0.7 7,350 Auric Pacific 0.635 0.0 3,810 Fuxing China 0.145 0.0 7,540 Pacific Andes 0.320 0.0 16,000 QAF 0.615 0.0 15,375 Sino Techfibre 0.085 0.0 3,230 United Fiber System 0.045 0.0 4,050 Rickmers Maritime 0.390 -1.3 3,900
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    • 440 8  -  TEH HOOI LING Senior Correspondent AT A media lunch earlier this year, the host a US investment bank asked the guests for their views of the market in 2011. My response was: “Everybody seemed very bullish. When everybody’s bullish, it might be prudent
      440 words
    • 172 8 MAR 18 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE TT Int'l 0.040 14.3 1,800 Shanghai Asia 0.180 2.9 6,840 Jaya Holdings 0.520 0.0 3,120 Sino Techfibre 0.085 0.0 3,230 Rotary Engineering 0.895 -0.6 14,320 Nera Telecoms 0.400 -1.2 8,800 Innotek 0.580 -1.7 8,120 Poh Tiong Choon Logistic 0.425
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    • 152 8 sentiment MAR 18 ‘11 BID PRICE VALUE WEEK-ON-WEEK CHANGE People's Food 0.780 1.3 8,580 Macquarie Int'l Infra 0.575 0.9 8,050 Chemoil Energy 0.401 0.0 11,629 Del Monte 0.435 0.0 4,350 UIC 2.770 -1.4 11,080 Bright World 0.555 -1.8 10,545 Cityspring Infra Trust 0.525 -2.8 4,725
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    • 1499 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director at Asia Insider Ltd THE sharp drop in share prices this quarter has prompted directors to support prices. Thirty-one companies recorded 66 insider acquisitions worth $31.36 million, based on filings
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    • 81 6 Phillip Futures Bringing Global Markets Closer to You I www.phillipfutures.com.sg 6538 0500 Brought to you by Phillip Futures Pte Ltd (A member of PhillipCapital) The above information does not constitute an investment advice, an offer/solicitation to buy/sell the above mentioned investment product(s). Trading in the above products carries a high
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  • COMPANY NEWS
    • 613 7  -  HOCK LOCK SIEW By R SIVANITHY WHAT a difference two weeks makes. As recently as early March after the 2010 earnings reporting season had ended, brokers were projecting plenty of good times in the coming months for the local stock market “More upside ahead”,
      613 words
    • 341 7  -  They will together pay some $2,300 psf for the property By CONRAD TAN KEPPEL Land’s property fund management arm and NTUC Income have agreed to buy Capital Square for some $889 million in the biggest office deal so far this
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    • 290 7  -  By CONRAD TAN A RECENT spate of new orders for oil rigs won by rigbuilders here suggests that offshore and marine firms are thriving, say analysts, who recommend that investors take another look at stocks of such companies. The recent declines in the stock
      290 words
    • 561 10  -  With her passion and proven calibre, CEO is boldly taking PanUnited Corp places By KELLY TAY WHEN May Ng first joined Pan-United Corporation Ltd (PUC) over 20 years ago, she was, in her own words, a “young rookie” with much to learn.
      ARTHUR LEE  -  561 words
    • 206 10  -  By KELLY TAY FRASER Neave, Limited (F&N) launched 100PLUS in Thailand on Saturday. The move comes just eight months after the company launched 100PLUS in Indonesia. With Thailand’s non-al-coholic ready-to-drink market valued at $8.7 billion, F&N hopes to tap into the vast potential of the
      206 words
    • 396 10 Mar 18 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 1632 10 Payment Ex Books Pay Ann (cts) date close date date Action Asia ak 1.000 06-May 10-May 20-May 25-Feb Adampak Ltd ak 2.000 09-May 11-May 26-May 02-Mar Adv Integrated Mft an 0.330 20-May 24-May 06-Jun 28-Feb AEI Corp an 1.000 06-May 10-May 20-May 23-Feb AIMS Amp Cap Ind Reit
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  • Page 7 Advertisements
    • 309 7 i HALAL MAUKLTTUACIf Ml HAS Expanding your business horizon 8 INTER NATIONAL HALAL SHOWCASE Kuala Lumpur Convention Centre, KLCC, Malaysia 6-9 April 2011 MIHAS 2011, brings you more than 500 booths from 32 countries showcasing a variety of halal certified food, beverages, cosmetics, herbals, toiletries, pharmaceuticals, banking and more! Definitely
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    • 95 9 2000 -2010 10 years of achievements, fun and friendships. Topped off with the highest recognitions: Law Firm of the Year IFLR M&A Law Firm of the Year Global Law Experts Corporate Governance Law Firm of the Year DealMakers Monthly M&A Law Firm of the Year Corporate Intl Magazine Banking Finance
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    • 1567 10 <'$=;(?,=:[(:~&+"{!!"|'@&[@]\^( CHINA ANIMAL HEALTHCARE LTD. 中 (Incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 0940) (Singapore Stock Code: EP4) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Eleventh Annual General Meeting of China Animal Healthcare Ltd. (the ‘‘Company’’) will be held at M Hotel Singapore,
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    • 19 10 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices MATS NOTICES <? O
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  • SINGAPORE NEWS
    • 488 11  -  Spotlight Singapore puts a softer spin on business with food, cultural shows By in LYNN KAN in Cape Town LAST week marked the start of Singapore’s engagement with the newest member of the BRIC economies, South Africa. Over 60 business delegates from
      488 words
    • 422 11  -  It plans to set up technology centre in S’pore, says CFO By JERMAINE NG GLOBAL science company Royal DSM aims to further expand its presence in Asia, said chief financial officer Rolf-Dieter Schwalb. DSM posted a strong fourth-quarter operating profit of 170
      422 words
    • 294 11 COMPANY MEETING PLACE DATE TIME Reyoung Pharm S Meeting Room 309, Level 3, Suntec Singapore International Convention Exhibition Centre, 1 Raffles Boulevard, Suntec City, Singapore *****3 22-Mar 10.00am Unionmet A Amara Hotel Singapore, Connection 1, Level 3, 165 Tanjong Pagar Road, Singapore *****9 23-Mar 10.00am Tritech Grp E
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  • VIEWS FROM THE TOP
    • Article, Illustration
      3784 12 THIS WEEK’S TOPIC What are the major challenges facing Singapore’s ageing population? What more needs to be done? Leong Horn Kee Chairman/CEO CapitalCorp Partners Pte Ltd WE NEED a seismic shift in how we as a society view ageing. Singapore has to overcome the conventional perception that older
      ST FILE PHOTO  -  3,784 words

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    • 57 13 R Exclusively At SINGAPORE KUALA LUMPUR JAKARTA BANGKOK PARAGON T: (65) 6333 6663 STARHILL GALLERY T: (603)2141 3131 GALLERIA GRAND HYATT T: (6221 3983 881 O SIAM PARAGON T: (662) 61 O 9883 PARMIGIANI HERITAGE IN THE MAKING THE KALPAGRAPH COLLECTION Entirely manufactured in Les Ateliers Parmigiani in Switzerland If
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1622 14 A tribute to empire builders and their grit, assertiveness, ambition, vision, pragmatism and entrepreneurial spirit WILDhorsescould not drag Captain GR Gopinath away f rom h i s dreams. He resigned from a highly sought after army commission despite his father’s protests and started work on a
      1,622 words
    • 1016 14  -  It was a rare exposure to a different world in Kalimantan for 25 SMU undergrads, says KIMBERLY PHUA CAMPUS LIFE KIMBERLY PHUA This writer is a fourth-year student on the International Trading Track at Singapore Management University WHEN we arrived at the open-cut coal mine,
      1,016 words
  • Page 14 Advertisements
    • 249 14 Be smart with your finances FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors’ Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
      249 words

  • ECONOMY WATCH
    • 597 15 Analysis undercuts president’s claim of fiscal responsibility, claim Republicans Reuters Bloom berg [WASHINGTON] In a blow to US President Barack Obama, an independent analysis found that his latest budget proposal would worsen the country’s fiscal situation over the coming decade. The estimate by the
      Reuters; Bloomberg  -  597 words
    • 405 15 This will help reduce debt by 20%, says finance minister Reuters [ATHENS] Greece’s ambitious plan to raise 50 billion euros (S$90.2 billion) from asset sales in 2012-15 can help reduce its debt mountain by 20 per cent, its finance minister said in a newspaper
      Reuters  -  405 words
    • 578 15 AFP Reuters [LONDON] Britain’s government unveils its annual budget on Wednesday, and it is expected to focus on nurturing economic growth in the face of deep spending cuts and tax hikes aimed at slashing the nation’s huge deficit. Prime Minister David Cameron’s
      AFP; Reuters; REUTERS  -  578 words
  • Page 15 Advertisements
    • 97 15 Trade beyond borders That’s what participants in international commerce can do when they’re smart about managing risk.And smart managers work with CME Group, the world’s leading derivatives marketplace. Companies doing business around the world come to us to manage virtually every kind of risk. Changing currency valuations, energy costs, interestratefluctuations,commodityshifts–whateverthe
      97 words

  • MALAYSIA/INDONESIA
    • 720 16  -  KL has a tougher job ahead convincing M’sians that the country needs nuclear energy MALAYSIA INSIGHT PAULINE NG KL Correspondent THE nuclear plant crisis currently unfolding in Japan has reignited local debate on Malaysia’s plans to use nuclear energy as a source of
      720 words
    • 719 16  -  Jakarta and Indonesian distributors locked over import duties By S JAYASANKARAN in Kuala Lumpur A STANDOFF is developing between Jakarta and Indonesian importers of Hollywood movies together with the Motion Picture Association of America (MPAA) that threatens to block the distribution of
      AP  -  719 words
    • 241 16 Bernama [KUALA LUMPUR] Stocks on Bursa Malaysia are expected to rally in the second quarter of 2011 despite global uncertainty stemming from political turmoil in the Middle East and North Africa as well as Japan’s devastating earthquake and tsunami, according to
      Bernama  -  241 words
    • 1919 16 VOL Mar 18 RM +/-(‘000) A M Realty 0.45 0.01 14 Abric Bhd 0.30 -0.01 68 Advance Synerg 0.23 unch 2220 Adventa Bhd 2.46 unch 112 Ae Multi Hldgs 0.30 0.01 411 Affin Holdings 3.48 0.20 719 Ahmad Zaki Res 0.86 unch 285 Aic Corp 1.20 unch 0
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  • GREATER CHINA/INDIA
    • 467 17 Govt will encourage local businesses to expand abroad as it works to attract FDI AFP Xinhua [BEIJING] China’s Minister of Commerce Chen Deming yesterday urged foreign governments to improve their investment environment and provide equal access for Chinese investors, state media reported. Beijing will encourage
      AFP; Xinhua; BLOOMBERG  -  467 words
    • 654 17 AFP [NEW DELHI] Two of the world’s richest men, software pioneer Bill Gates and investor Warren Buffett, are set to visit India this week to persuade the country’s super-wealthy to part with more of their cash. The pair made headlines last
      AFP  -  654 words
    • 229 17 Bloomberg Reuters [DUBAI] Saudi Aramco and China National Petroleum Corp (CNPC) have agreed to build a 200,000 barrels per day (bpd) refinery in southern China as producers seek to meet rising fuel demand in the world’s fastest-growing major economy. The state-owned oil company
      Bloomberg; Reuters  -  229 words
    • 531 17 AFP Xinhua [SHANGHAI] Chinese consumers caught up in panic salt buying in the mistaken belief that it would protect against radiation from Japan’s nuclear crisis are finding that stores are refusing to refund them for their hoards of salt. Supermarkets said they were unable
      AFP; Xinhua  -  531 words
    • 440 17 Official: Govt trying to cut budget deficit to lowest in 4 years Bloomberg [NEW DELHI] The Indian government is likely to open the year starting April 1 with a minimum cash surplus of 330 billion rupees (S$9.34 billion), a finance ministry
      Bloomberg  -  440 words
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    • 1329 17 :*ATci NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF WANG WANG PAWNSHOP PTE LTD (IN CREDITORS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****8323W NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the final meetings of member and of creditors of the abovenamed Company
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  • WORLD
    • 769 18 They also plan to buy back stock after passing Fed’s stress test NYT [NEW YORK] For long-suf-fering bank investors, the wait is over. After securing the Federal Reserve’s blessing, a series of financial giants rushed to raise their dividends and buy back stock on Friday,
      NYT; BLOOMBERG FILE PHOTO  -  769 words
    • 586 18 Rail station closed, no tourists, empty supermarket shelves Reuters [TONO, Japan] More than a week after an earthquake and tsunami smashed into much of Japan’s north-east coast, a small tourist town tucked safely between mountains has ground nearly to a halt. Tono, a
      Reuters; REUTERS  -  586 words
    • 539 18 AFP [ATHENS] After two lean seasons and a year marred by austerity protests, Greek tourism operators expect a rebound in 2011 with the global economy in recovery and unrest in North Africa turning demand elsewhere. And although visitors avoiding Egypt and Tunisia may
      AFP  -  539 words
    • 255 18 Reuters [NEW YORK] Bailed-out insurer American International Group (AIG) said that it would post an estimated US$1 billion in pre-tax catastrophe losses in the first quarter, mostly from exposure to the March 11 earthquake in Japan. AIG said that its exposure would be about
      Reuters  -  255 words
    • 219 18 Reuters [DUBAI] UAE telecom firm Etisalat scrapped on Saturday its US$12 billion offer to buy a controlling stake in Kuwaiti rival Zain, citing Zain’s divided board, extended due diligence and regional unrest. The Gulf’s largest telecom firm offered last year to buy a
      Reuters  -  219 words
    • 701 19 Manufacturers relying on Japanese parts and exporters to Tokyo in a bind AP [MUMBAI] Economic aftershocks of the devastation in Japan are rolling through Asia. It is here, among Japan’s neighbours, that the reverberations of the catastrophe are being felt hardest. Automakers in
      AP; AP FILE PHOTO  -  701 words
    • 590 19 MSCI Asia-Pacific Index is 12.6 times estimated profit Bloomberg [SINGAPORE] The lowest valuations for Asian stocks in more than two years is not enough to lure Schroders plc’s Lee King Fuei, who says that Japan’s nuclear crisis may spur further losses. The
      Bloomberg; FILE PHOTO  -  590 words
    • 314 19  -  By ANTHONY ROWLEY in Tokyo A JAPANESE restaurant in Singapore has caused consternation at the highest levels of the Japanese government by declaring that it will no longer serve vegetables and rice grown in Japan in the light of radioactive contamination found in milk and spinach
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    • 440 19 Bloomberg [WASHINGTON] The mounting debt burden of the world’s most developed nations, set for a post-World War II record this year, is unsustainable and risks a future fiscal crisis, the International Monetary Fund’s John Lipsky said. The average public debt ratio of
      Bloomberg  -  440 words
    • 405 19 AFP [HANOI] Vietnam is looking to balance its long-standing “addiction” to growth with measures to stabilise the troubled economy, but its success depends on restoring public confidence, analysts say. Strong action began only in February when the State Bank of Vietnam announced the country’s
      AFP  -  405 words
    • 290 19 Reuters [LONDON] Making UK banks restructure their operations by splitting their retail and investment arms could cost the nation’s big five lenders up to £15 billion (S$31 billion) a year, according to a report in the Sunday Telegraph quoting a study. The figure is contained
      Reuters  -  290 words
    • 759 20 US president offers to deepen trade ties with the Latin American giant Bloomberg [BRASILIA] President Barack Obama said he wants the US to become one of Brazil’s “best customers” when recent oil discoveries come online and pledged to work with his counterpart
      Bloomberg; REUTERS  -  759 words
    • 613 20 Reuters [ROME] Critics of Mario Draghi may have few arguments to block his chances of becoming Europe’s top central banker other than just mentioning the fact that he worked at Goldman Sachs for a number of years. So powerful is
      Reuters  -  613 words
    • 456 20 Benchmark Tadawul All Share Index up 4.3%, highest in 2 weeks Bloomberg [DUBAI] Persian Gulf shares rose and Saudi Arabia’s benchmark stock index climbed the most in two weeks after King Abdullah ordered increases in spending, including US$67 billion on housing, to
      Bloomberg  -  456 words
    • 458 20 But economists expect factories to pick up the slack Bloomberg [WASHINGTON] US home sales probably fell in February while orders for longlasting goods climbed, a reminder of an economic recovery reliant on manufacturing as housing struggles, economists said before reports this week.
      Bloomberg  -  458 words
    • 346 20 Reuters [AMSTERDAM] The Dutch government says it wants to grant licences for Internet gambling services in the Netherlands and lift restrictions that hundreds of thousands of Dutch ignore every year. The proposal made known last Saturday by a new coalition government that took
      Reuters  -  346 words
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    • 40 18 Japan quake will have only short-term impact on a small number of S-chips 将对少数龙筹股造成短期冲击日本特大地震 To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      40 words



  • MIDDLE-EAST CRISIS
    • 810 21 Though relatives may stick by him, the loyalty of officials will depend on allied action, they say NEWS ANALYSIS Reuters [LONDON] Fight to the end for Muammar Gaddafi? Or defect and save your skin? The second question may not occur to most
      Reuters  -  810 words
    • 330 21 Reuters [RABAT] Thousands took to the streets in cities across Morocco yesterday demanding better civil rights and an end to corruption in the moderate North African country where the king this month promised constitutional reform. “Morocco should start drawing some serious lessons
      Reuters  -  330 words
    • 732 21 Wefaq calls for dialogue, urges release of activists Reuters [MANAMA] Bahrain’s main opposition groups have eased conditions for talks to end a crisis that has drawn in neighbouring Gulf armies and raised tension in the oil-exporting region. Led by the largest Shi’ite opposition party
      Reuters; AFP  -  732 words
    • 389 21 AP [SANAA] The Yemeni president’s own tribe has called on him to step down after a deadly crackdown on protesters, robbing the US-backed leader of vital support in a society dominated by blood ties. Some of the country’s most important religious
      AP  -  389 words
    • 310 21 Thousands march, demanding an end to emergency law Reuters [DAMASCUS] Thousands of Syrians demanded an end to 48 years of emergency law yesterday, a third straight day of protests emerging as the biggest challenge to Syria’s rulers since unrest swept the Arab world
      Reuters  -  310 words

  • SHIPPING/AVIATION
    • 630 22 Fleet expansion will overshadow any demand surge as Japan reconstructs Reuters [SINGAPORE] Japan’s reconstruction efforts will do little to boost global freight rates that are near two-year lows as fleet expansion overshadows any demand surge from the world’s third-largest economy. The benchmark index for seaborne
      Reuters; BLOOMBERG FILE PHOTO  -  630 words
    • 590 22 Lockheed Martin, Boeing lobbying for fighter jet deal AFP [WASHINGTON] Two US aerospace firms are jostling with global rivals to win a US$11 billion to US$12 billion Indian fighter jet contract, hoping a nascent US-India strategic partnership can help seal the deal. As defence
      AFP  -  590 words
    • 278 22 SGX '000 Mar 18 S$ +/-Vol CH Offshore 0.43 0.01 71 Chuan Hup Hldg 0.22 unch 45 Cosco Corp 1.81 -0.01 ***** CWT Ltd 1.17 0.01 887 Ezra Hldgs 1.68 0.01 3130 First Ship Lea 0.40 -0.01 843 Freight Links 0.06 unch 880 Grand Banks unch unch 0
      278 words
    • 467 22 Reuters [SEOUL] Japan’s neighbours have pledged to ramp up liquefied natural gas (LNG) exports to the quake-stricken nation, helping it to replace power supply crippled by the disaster. Japan’s worst earthquake on record has caused the loss of around 9,700 megawatts (MW)
      Reuters  -  467 words
    • 3294 22 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1230 SQ456 1245 --EY473 1940 VA7473 1940 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 Amsterdam LO4031 0605 LO4032 2350 SQ323 0605 SQ324 2350 US5410 0605 US5411 2350 AZ3992 1615 KL835 1615 Athens
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  • Page 22 Miscellaneous
    • 371 22 CRYPTIC CROSSWORD Across 9 Staged work with some rare power on reflection (5) 10 English girl with posh date possibly given an assessment (9) 11 Time a prude is shaken up to buy a better property? (5,2) 12 Old bachelor with, say, ace comment (7) 13 Sign of agreement seen
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  • DINING OUT
    • 746 23  -  NEW RESTAURANT By Geoffrey Eu Limoncello 95 Robertson Quay Rivergate #01-19/01-20 Tel: 6634-5117 THE odds of a new Italian restaurant opening in Singapore every few weeks are roughly equal to the chances that flowers will bloom in the spring, so it’s hardly surprising that Limoncello which
      PHOTOS BY ARTHUR LEE  -  746 words
  • Page 23 Advertisements
    • 269 23 WINE DINE AND HOSPITALITY m 'f' f&tz'&t-'Z. t- *S; it- *44-; 33 1 i r t?L i W" V CHEF'S FAVOURITES ARE STEAMED WAGYU BEEF DUMPLING, NANBU BIJI (SAKE) WAGYU BEEF SALAD PAN-SEARED WAGYU BEEF IN HOME-MADE SESAME DRESSING. THE FINEST CUTS FROM AUSTRALIA Wagyu Beef Delights are available from
      269 words

  • SINGAPORE STOCKS
    • 8821 24 Week ended: Mar 18 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 8Telecom 17.5 unch 420 17.5 16.5 17 17.5 7.8 3.5 3.7 83.8 12 4.5 A-Sonic 6.5 -0.5 4953 7
      8,821 words
    • 1763 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 7 4 t AA Grp 4.5 3.5 4.5 21.4 4.3 225 130 t APStrategic 160 -10 1 160 160 157 168 94.9 1.5 0.5
      1,763 words
    • 112 25 Stock name Close Change CapMallsAsia 1.720 +0.030 CapitaLand 3.140 +0.030 CapitaMall 1.710 -0.020 CityDev 10.360 +0.020 ComfortDelGro 1.500 DBS Grp 14.000 -0.040 F&N 5.360 +0.080 Genting SP 1.880 Golden Agri 0.640 HK Land 6.750 +0.290 Stock name Close Change JMH 43.600 -2.400 JSH 26.000 -1.240 Jardine
      112 words
    • 2647 25 Transaction date: Mar 18 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.60 unch 0 Aeon Stores 15.80 0.40 24 Angang Steel 10.40 0.04 8363 Anhui Conch 40.80 0.10 3452 Anhuiexpresswa 6.41 -0.05 978 Asia Satellite 13.50 unch 1 Asm Pacific 88.55 2.25 798 Bank Of E Asia 32.10
      2,647 words
    • 248 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 AVJennings A50.5cd 49.5 55 3.6 6.9 4 131.5 55 16 Genting HK US$ US38.5 -1 *****3 39.5 36 38.5 39 2535 21 8 Over&Gen A14
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    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 14 2 0 0 0 3 14 2 Manufacturing 26 142 50 3 16 17 29 158 67 Commerce 13 48 16 6 12 2 19 60 18 Tpt/Stor/Comms 6 33 7
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    • 940 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 112.3 +0.5 10 112.3 112.3 111.8 113 512.6 1070 761 CIMBAsean40 100US$ US997 -19 135 1014 950 949 1024 39.9
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 123,393 123,393 507,270 507,270 Manufacturing 1,371,899 119,178 1,491,077 1,385,030 4,147 1,389,177 Commerce 518,728 46,712 565,440 748,307 8,772 757,079 Tpt/Stor/Comms 1,334,442 9,229 1,343,671 1,912,106 1,311 1,913,417 Finance 146,167 915 147,082 1,066,905 119 1,067,024 Construction 124,417 15,044
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  • Page 25 Advertisements
    • 26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 26 In local curr In S$ In US$ dy yr dy yr dy yr Mar 18 Index Change Change Change Change Change Change World Index Preliminary 893.1 0.8 -0.5 0.4 0.2 0.7 0.7 EAFE Preliminary 772.5 0.9 -3.5 0.5 -1.5 0.7 -1.0 Europe Preliminary 1143.5 0.5
      374 words
    • 177 26 Mar 18 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.30 0.20 1 month 0.38 0.28 2 months 0.43 0.33 3 months 0.48 0.38 6 months 0.58 0.48 9 months 0.80 0.60 12
      177 words
    • 22 26 Mar 18 S$ Bid Offer 1-month 1.2741 1.2751 2-months 1.2739 1.2750 3-months 1.2738 1.2748 6-months 1.2733 1.2743 Source: OCBC
      22 words
    • 176 26 Mar 18 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Apr 11 525.0 524.0 524.9 34 318 May 11 520.0 498.0 525.0 23 130 Jun 11 525.0 524.0 524.0 40 158 Jul 11 524.0 524.0 524.0 4 146 Aug
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    • 81 26 Mar 18 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 16.06.2011 0.30 0.24 0.23 1-Year BY*****N 01.11.2011 0.37 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.53 5-Year N*****0S 2.875 01.07.2015 107.97 108.05 108.05
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    • 109 26 Mar 18 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 11 1362.50 1335.25 1385.75 1322.75 Jul 11 1371.50 1343.50 1393.75 1331.25 Aug 11 1367.25 1339.75 1390.50 1334.75 Sep 11 1350.75 1321.00 1369.00 1309.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May
      109 words
    • 77 26 CRUDE OIL PRODUCTS Mar 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.12 3.11 WTI (Near Mth) 101.42 3.08 Dubai (1-Mth F) 106.67 2.20 Tapis blend 118.16 2.85 Minas 114.46 2.25 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 102.67 1.50 Jet Kerosene 131.40 1.35 US$/barrel Opec Oil
      77 words
    • 2880 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left AFP Properties EW*****8 20.5 -2 974 1 10 -10 1.66 56 Asia-Pacific Strategic W*****6 26 -1 13 1 150 10 6.15 38 ASJ Hldgs W*****1 1 -0.5 350 1 4 11
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    • 121 26 Mar 18 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.303 1.23 Can dollar 1.32 1.27 Euro 1.817 1.748 Sterling pound 2.092 2.012 NZ dollar 0.949 0.904 US dollar 1.294 1.245 Local dollars to 100 units of foreign
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    • 27 26 Mar 18 Open High Sett STI Mar 2936 SIMSCI Mar 345.6 350.6 344.6 Taiwan Mar 293.8 297.2 296.5 Source: MF Global (S) Pte. Ltd
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    • 65 26 Mar 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 11 3436 3499 3499 3436 665 5780 May 11 3425 3473 3473 3400 3054 ***** Jun 11 3389 3446 3450 3376 ***** ***** Jul 11 3389 3428
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    • 466 26 Mar 18 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun11 99.6300 0 2645 Sep11 99.5650 0 3875 Dec11 99.4650 0 2023 Mar12 99.2850 0 593 EUROYEN TIBOR FUTURES Jun11 99.6550 0 2946 Sep11 99.6475 0 866 Dec11 99.6325 0 1936 Mar12 99.6300 99.6300 99.6300 99.6050 0
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    • 464 26 Mar 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.974 6.522 0.705 7.738 44.728 87.051 0.812 11.179 3.023 1.365 84.684 43.369 1.265 6.982 0.897 29.364 30.079 0.615 0.992 Canada 1.026 6.694
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    • 85 26 Mar 18 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 26 Mar 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2642 1.2655 0.9921 0.9923 Canadian dollar 1.2973 1.2989 1.0180 1.0185 Euro 1.7937 1.7956 1.4076 1.4080 NZ dollar 0.9258 0.9271 0.7265 0.7270 Sterling pound 2.0546 2.0565 1.6123 1.6126
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    • 138 26 Mar 18 GOLD (US$/oz) Mar 18 Mar 17 Hong Kong 1414.00 1398.50 Mar 17 Mar 18 London 1403.20 1418.77 1403.95 1419.54 Source: Thomson Reuters CAST BAR Mar 18 (S$) Selling Buying Kilobar 62,015.06 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 139 58 5gm 394 289 10gm 704
      138 words
    • 71 26 Mar 18 Mar 18 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2536.75 2493.75 3 months 2560.00 2523.00 Copper, Grade A (US$/tonne) Cash 9512.50 9564.50 3 months 9510.00 9565.00 Lead (US$/tonne) Cash 2699.00 2665.00 3 months 2677.00 2651.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
    • 82 26 Mar 18 COCOA (£/tonne) Close Prev High/Low May 11 2003 2126 2142/1999 Jul 11 2008 2121 2136/2004 Sep 11 2018 2121 2130/2016 Dec 11 2028 2121 2132/2023 COFFEE (US$/tonne) Close Prev High/Low Mar 11 2550 2525 2580/2569 May 11 2596 2615 2672/2586 Jul 11 2436 2440 2486/2418 Sep 11
      82 words

  • 6009 27 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. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
    6,009 words
  • Page 27 Advertisements

  • Page 28 Advertisements
    • 51 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES FREIGHT FORWARDER urgently needed by shippers I Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING
      51 words

  • BizIT
    • 920 29  -  Akamai focuses on security and speed as the Web spreads to billions of new users in Asia, <the bizIT interview> reports VICTORIA HO IT’S a funny thing for all the Internet’s leaps in progress over the past decade, its challenges and objectives have remained
      920 words
    • 378 29  -  By VICTORIA HO THE idea of going to a hair salon conjures images of sitting and flipping through stacks of magazines as you wait for the stylist to be done. One hair salon in Singapore is changing that experience by going digital. Mode Hair
      LONG KWOK HONG/LIANHE ZAOBAO  -  378 words
    • 423 29  -  RapidStart offers training in cloud computing, green IT By AMIT ROY CHOUDHURY RAPIDSTART, an accredited training and certifications provider, has launched training and certification programmes in cloud computing and green IT here, in conjunction with the Global Science and Technology Forum (GSTF). The certification programmes Mastering
      423 words
    • 1289 29  -  <viewIT> CHRISTOPHER LIM Correspondent WALK into a CD store and you will probably see a CD that’s been remastered at better-than-CD quality. “24-bit, 96KHz high resolution restoration”, one album proudly proclaims. Since the record label went through all that effort, why isn’t it selling the
      1,289 words
    • 774 30  -  Indian IT major has doubled its staff here and bagged several significant deals, writes AMIT ROY CHOUDHURY INDIAN technology company Mahindra Satyam is bullish about its prospects in Singapore, where it has bagged a number of public sector deals and doubled headcount over the past
      774 words

  • Page 30 Advertisements
    • 77 30 k THEJOURNEYTOTHE PRIVATE CLOUD STARTS NOW Find out what IT executives at leading U.S. companies are saying about cloud computing in a new EMC-sponsored study by McKinsey Company. Visit www.emc-s0uthasia.com/J2PC-BTBizlTad now Call EMC NOW at 6779 0886 EMC? where information lives 9 2 EMC EMC, the EMC logo, VNX, VNXe,
      77 words
    • 11 30 the bizIT interview Tackling the challenges of the Net Page 29
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